Marine Shipping

Source: Reuters

Shipping giants warn of worsening Red Sea security situation

Oil Price


Security threats to commercial shipping in the Red Sea are not abating, they are escalating instead, and disruptions to maritime trade are expected to last up to a year, according to some of the biggest shipping companies in …

Source: Reuters

ANALYSIS-Energy traders, shippers grapple with Red Sea fallout

Nasdaq


SINGAPORE/NEW DELHI/LONDON – To avoid the Red Sea, the supertanker Grand Bonanza set out early this month on a roughly 40-day journey carrying 1.8 million barrels of Abu Dhabi crude for TotalEnergies from the United Arab Emirates all the …

Houthis target U.S.-owned tanker in Red Sea

Houthis target U.S.-owned tanker in Red Sea

Oil Price


The Iran-aligned Houthis fired late on Thursday two anti-ship ballistic missiles at a U.S.-owned chemical tanker in the Red Sea, the U.S. Central Command said in what it described as the third Houthi attack on a commercial vessel …

Source: Oil Price

9 million barrels of Saudi and Iraqi oil delayed amid Red Sea chaos

Oil Price


Tankers carrying nearly 9 million barrels of oil from Saudi Arabia and Iraq will delay their deliveries as they have diverted away from the Red Sea/Suez Canal route in recent days, and are now headed on the longer …

Source: Reuters

Brent breaks past $80 barrier as Houthis attack Red Sea

Oil Price


Brent crude oil broke past the $80 resistance level on Wednesday, as tensions in the Middle East continued to rise and as Houthi attacks on Red Sea shipping showed no signs of easing, prompting concerns of price-impacting disruptions …

Source: Reuters

U.S. launches Red Sea force as ships reroute to avoid attacks

US News


MANAMA/DUBAI – The United States on Tuesday launched a multinational operation to safeguard commerce in the Red Sea as attacks by Iran-backed Yemeni militants forced major shipping companies to reroute, fueling concern over sustained disruptions to global trade.…

Source: Oil Price

Mysterious Saudi oil tanker cluster off Suez starts to clear

Oil Price


A cluster of mostly Saudi supertankers loaded with oil that has been idling off Egypt’s Red Sea coast for weeks has shown signs of starting to clear as two of the 11 tankers are no longer anchored near …

Source: Oil Price

U.S. crude trading at big discount to Dubai oil

Oil Price


Heavy trading in Dubai oil has lifted its premium to WTI crude to its highest since late March, a development that could make U.S. crude even more competitive in Asia.  More traders have turned to Dubai after Persian …

Source: Reuters

Chief Executive of America’s largest oil port unexpectedly resigns

Oil Price


The chief executive of the port of Corpus Christi in Texas, Sean Strawbridge, resigned this week with the announcement providing no reasons for the move, Reuters reported.

 

Strawbridge took the helm of the port of Corpus Christi …

Source: Oil Price

Tanker carrying oil for Chevron seized by Iran

Oil Price


A tanker carrying crude oil destined for Chevron has been seized by the Iranian Navy, the United States Navy said on Thursday. The tanker had reportedly been involved in a collision with an Iranian vessel in the Gulf …

Source: Oil Price

LNG shipping rates fall to a 7-month low as gas prices drop

Oil Price


LNG freight rates for Atlantic Basin spot LNG cargoes slid to below $50,000 per day on Thursday, the lowest level in over seven months, as natural gas prices in Europe drop with peak winter demand behind us.

 …

Source: Reuters

Oil spills and near misses: more ghost tankers ship sanctioned fuel

Nasdaq


LONDON – An oil tanker runs aground off eastern China, leaking fuel into the water. Another is caught in a collision near Cuba. A third is seized in Spain for drifting out of control.

These vessels were part of …

Source: Reuters

Western tankers ramp up Russian oil shipments under price cap

Nasdaq


MOSCOW – Western oil tankers ramped up their shipments of Russian crude in January as prices for Moscow’s flagship Urals grade held below an international price cap, according to market sources and Eikon data.

The Group of Seven nations …

Source: Reuters

LNG tanker orders soar 95% to hit a record high in 2022

Oil Price


Europe’s rush to replace Russian gas and an expected years-long bull market for LNG supply and prices have also created a race for LNG carrier orders this year.

 

With 2022 nearly at its end, the global order …

Source: Reuters

Tensions rise over oil tanker traffic jam in Turkish waters

Oil Price


Tankers carrying largely Kazakh crude oil from Russian ports to international markets are stuck in Turkish waters in the Bosphorus and the Dardanelles because Turkey is insisting on them presenting proof of insurance.

 

 

The tanker jam …

Source: Reuters

U.S. oil exports hit record high

Oil Price


U.S. exports of crude oil and petroleum products hit an all-time high of 11.8 million barrels per day (bpd) last week, The Maritime Executive reports.

 

In the week to November 25, a total of 11.776 million …

Source: CNBC

Treasury Department releases guidelines for Russian oil transport ahead of planned price cap

CNBC


The Treasury Department issued new guidance Tuesday about policies on the maritime transport of Russian oil ahead of a planned price cap in early December.

 

 

The guidance, which complements the U.K.’s newly-released policies, outlines how U.S. …

Source: World Oil

New LNG supplies from US to Europe will take two more years

World Oil


(Bloomberg) – It’s been eight months since Russia invaded Ukraine, sending global commodity prices soaring and forcing energy-ravenous countries into a mad competitive dash to secure new fuel sources ahead of winter.

 

While the US filled some …

Source: Oil Price

Oil executives warn G7 price cap could lead to stranded tankers

Oil Price


Oil cargo could soon be stranded at sea if G7 leadership fails to get insurers details regarding the upcoming—but undefined—price cap mechanism on Russian crude oil, senior industry executives told Reuters this week.

 

The price cap plan—although …

Source: Reuters

Dozens of LNG-laden ships queue off Europe’s coasts unable to unload

Natural Gas World


LONDON/MADRID – Dozens of ships carrying liquefied natural gas (LNG) are circling off the coasts of Spain and other European countries unable to secure slots to unload because plants that convert the seaborne fuel back to gas …

October 17, 2022 - 2:30 pm Energy News, LNG, Marine Shipping
Source: World Oil

Tankers that carried Iranian oil are switching to Russian crude

World Oil


(Bloomberg) — Oil tankers that previously carried Iranian oil are switching to haul Russian crude, according to shipping analytics company Vortexa.

 

Eleven of the tracked ships that previously carried Iranian crude have loaded Russian oil and products …

Source: Bloomberg

Guyana in talks to build deepwater port with Abu Dhabi

World Oil


(Bloomberg) — Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast.

“We must …

Source: Reuters

Global oil tanker rates jolt higher on high fuel prices, risk premiums

Nasdaq


SINGAPORE, Feb 25  – Oil tanker rates are soaring globally as traders scramble to cope with jitters over possible disruption in Russian supplies, as well as war risk premiums for ships plying the Mediterranean region following Moscow’s invasion of …

February 25, 2022 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, Marine Shipping
Source: Reuters

Oil shipments in European oil hub delayed after cyber attacks

Reuters


LONDON, Feb 4 – Tanker and barge shipments in and out of Europe’s biggest oil hub have been delayed by up to a week as four storage companies scramble to resume operations after cyber attacks, sources familiar with the …

Source: Reuters

U.S. safety firm withdraws certification for two oil tankers over Iran sanctions

Reuters


LONDON – Two tankers have had their environmental and safety classification withdrawn by a U.S. company that provides such certification, after accusations by a U.S. advocacy group that they had shipped cargoes of Iranian oil, documents seen by Reuters

Source: Reuters

Countries agree to create green shipping lanes in pursuit of zero carbon

Reuters


GLASGOW  – A coalition of 19 countries including Britain and the United States on Wednesday agreed to create zero emissions shipping trade routes between ports to speed up the decarbonisation of the global maritime industry, officials involved said.

Shipping, …

Source: Reuters

U.S. regulator expects to find abuses in shipping amid supply chain woes

Reuters


WASHINGTON – The head of a U.S. commission that oversees ocean transportation said in an interview on Tuesday he suspects some ocean carriers have improperly charged importers, one of many factors driving supply chain woes.

A broad range of …

November 3, 2021 - 1:30 pm Closing Bell Story‎, Marine Shipping, Regulatory
Source: Wall Street Journal

Transocean lands $252 million contract for new ultra-deepwater drillship

World Oil


Transocean announced that BOE Exploration & Production LLC (“BOE”) awarded Transocean a $252 million firm contract for its newbuild ultra-deepwater drillship, the Deepwater Atlas, including a mobilization fee of $30 million. Additionally, the contract provides for a …

Source: Reuters

Shipping industry seeks to combat dark oil transfers at sea

Reuters


LONDON/MEXICO CITY – Top oil shipping companies say they have tightened operational guidelines and deployed technology to prevent accidental breaches of sanctions, as the countries hit by ever tougher restrictions fight back with elaborate strategies to dodge them.

Washington …

Source: Reuters

Traders book tankers in Europe to ship gasoline across Atlantic after Colonial shutdown

Reuters


LONDON – Traders provisionally booked at least six tankers to ship gasoline from Europe to U.S. destinations following a cyber attack that shut the United States’ top fuel pipeline network, Refinitiv Eikon data showed on Monday.

The attack forced