Belgian tanker operator Euronav reported a sharp drop in core profit for the first nine months of the year as freight rates in the oil tanker sector continued to fall. Excess tonnage in the global tanker market has put pressure on freight rates…
International law firm Watson Farley & Williams (WFW) advised Banca Popolare di Milano S.p.A. (BPM) regarding a US$28.8m loan facility granted to L.G.R. di Navigazione and secured by, inter alia, mortgages over two medium range ice class tankers…
State-owned Indian Oil Corp Ltd aims to have capacity to import about 13.5 million tonnes of liquefied natural gas (LNG) in five years, its head of business development said on Friday, helping India to gradually move to a gas-based economy. Prime…
Nordic American Tankers Limited (NAT) has announce that it has signed the main terms with a major international financial institution for the financing of the outstanding commitments, due on delivery, for the three Suezmax newbuildings to be delivered during the latter part of 2018…
Vopak, the world's largest independent storage tank operator, has launched a new service that allows tankers docking at its Singapore Sebarok oil terminal to refuel while simultaneously loading or discharging cargoes. 'The new concurrent…
The freight volume handled by the Port of Antwerp continues to expand. After nine months the total this year stands at 167.1 million metric tons, an increase of 3.3 percent compared with the same period last year. Strong growth has been…
Rosnefteflot, a subsidiary of Russia’s petroleum company Rosneft, has inked agreements with compatriot Zvezda Shipbuilding Complex for construction of ten Arctic shuttle tankers. At the same time Rosnefteflot and Taimyrneftegaz signed an agreement for 20 year time chartering of these tankers…
Qatar Gas Transport Company (Nakilat), the largest LNG ship owner in the world, concluded its financial results for the nine-month period ended 30 September 2017, with a net profit of QR 607 million compared to QR 749 million of the same period last year in 2016…
Shuttle tankers are an alternative to subsea pipelines. Typically for large water depths. For harsh weather operation the use of shuttle tankers is a necessity. DNV GL has incorporated the latest findings related to their design, operation and safety in an updated shuttle tanker paper…
India imported a record 4.83 million barrels per day (bpd) of oil in September as several refiners resumed operations after extensive maintenance to meet rising local fuel demand.The world's third-biggest oil importer shipped in 10 percent…
d’Amico International Shipping (DIS) has launched the first three LR1 (long-range) vessels in its history, at the Hyundai Vinashin shipyard in Vietnam, ANSA reported. The company invested USD 131 million in the construction of the three 75…
BP said it will take delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers in 2018 and 2019 to support its expanding global LNG portfolio. BP’s finance partners KMarin and ICBC Leasing are investing more than $1 billion in the tankers…
Odfjell Terminals B.V. has entered into an agreement with a fund managed by Macquarie Infrastructure and Real Assets to sell its 50 percent ownership in Oiltanking Odfjell Terminal Singapore Pte Ltd for a price around $300 million. This implies…
Reinforcing its three-decade-long presence in North America, transportation and logistics firm Bahri took part in Breakbulk Americas, being held from October 17-19, in Houston. The Bahri booth at Breakbulk Americas was opened by Mr. Sultan bin Abdullah Al-Angari…
India is set to emerge as a key market for American crude exports in coming months, as refineries in that country are ramping up 'test' purchases of U.S. grades to diversify their imports. U.S. exports recently set a weekly record with nearly 2 million barrels of crude a day sent overseas…
