Marine Shipping

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LONDON – Two tankers have had their environmental and safety classification withdrawn by a U.S. company that provides such certification, after accusations by a U.S. advocacy group that they had shipped cargoes of Iranian oil, documents seen by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

Source: Reuters

BHP completes its first refuelling of a ship with biofuel

Reuters


SINGAPORE -BHP Group Ltd said on Thursday it completed its first refuelling of a ship with biofuel this month in a trial run that is part of its efforts to reduce carbon emissions.

It was also the first time …

Source: Reuters

Arrested Suez ship fit for onward passage, manager says

Reuters


CAIRO -The cargo vessel that blocked global shipping in the Suez Canal and is caught in a legal dispute in Egypt is fit to sail once approval is given, its technical manager said on Wednesday.

The Ever Given was …

Source: Reuters

Suez Canal says close to clearing backlog after ship dislodged

Reuters


CAIRO – The Suez Canal said on Friday it was close to clearing a backlog of shipping that built up when a giant container ship was grounded in the waterway.

Suez Canal Authority (SCA) Chairman Osama Rabie told Egypt’s …

Suez Canal must upgrade quickly to avoid future disruption – shipping sources

Suez Canal must upgrade quickly to avoid future disruption – shipping sources

Reuters


CAIRO – Egypt’s Suez Canal must move quickly to upgrade its technical infrastructure if it is to avoid future shipping disruption, shipping industry sources said, as the major trade route tries to bounce back from a costly six-day closure.…

Source: Reuters

Egypt could ask for up to $1 billion in compensation for Ever Given crisis

CNBC


CAIRO — Egyptian authorities may seek over $1 billion in damages for helping to clear the Ever Given from the Suez Canal, as a dilemma emerges over who might foot the bill.

“We will reach over a billion …

Source: Reuters

Investigation begins into how ship got stuck on Suez Canal

Reuters


ISMAILIA, Egypt – Formal investigations into how the giant container ship Ever Given ran aground in the Suez Canal, shutting down shipping in the major global waterway for almost a week, begin on Wednesday, a canal official told Reuters.…

Source: Reuters

Suez ship congestion could delay 10 LNG deliveries to Europe, analysts say

Reuters


Dislodging a container ship blocking the Suez Canal, one the world’s busiest trade routes, may delay delivery to Europe of around 1 million tonnes of liquefied natural gas (LNG) on 10 vessels if the blockage lasts for two weeks, …

Source: Reuters

Suez Canal steps up efforts to remove blockage as shipping rates surge, tankers diverted away

Reuters


CAIRO – The Suez Canal stepped up efforts on Friday to free a giant stuck container ship and end a blockage that has sent shipping rates for fuel tankers soaring and disrupted global supply chains for everything from grains …

Source: Reuters

Global container crunch deepens with boxships stranded in Suez Canal

Reuters


LONDON/LOS ANGELES  – The suspension of traffic through the Suez Canal has deepened problems for shipping lines that were already facing disruption and delays in supplying retail goods to consumers, shipping sources said.

Container shipping companies, carrying retail goods

Source: Reuters

Oil rises as Suez Canal ship runs aground, demand fears weigh

Reuters


LONDON – Oil rose more than 2% on Wednesday after a ship ran aground in the Suez Canal raising supply concerns, although fears of a slow recovery in demand due to European lockdowns limited gains.

The giant container ship …

Source: Reuters

Exclusive: Three ships carrying U.S. ethanol head to China – sources

Reuters


NEW YORK – Three ships carrying ethanol were heading to China from the U.S. Gulf Coast, three trade sources told Reuters on Monday, in a sign that exports of the fuel were sharply increasing from the United States to …

March 9, 2021 - 12:30 pm China, Closing Bell Story‎, Energy News, Marine Shipping
Source: Reuters

Oil tanker market in rougher seas as supply surges, storage sinks

Reuters


LONDON – A plunge in the volume of crude oil stored on ships combined with unexpected cuts from top producer Saudi Arabia have created a glut of vessels available for hire, pressuring the outlook for supertankers this year.

Earnings …

Source: Reuters

Explosives-laden boat hits fuel ship at Saudi port, ministry says

Reuters


SINGAPORE -Saudi Arabia said on Monday that a fuel transport ship anchored at a Jeddah terminal was attacked by an explosive-laden boat, after shipping firm Hafnia said that one of its oil tankers, the BW Rhine, had been hit …

Source: Reuters

Brazilian prosecutors sue Maersk, seek to freeze $200 million

Reuters


RIO DE JANEIRO -Federal prosecutors in Brazil filed a civil lawsuit against Danish shipping company Maersk and former executives representing the firm for alleged corruption involving shipping contracts with state-run oil firm Petrobras, they said on Friday.

The lawsuit …

Source: Reuters

Container freight rates soar on consumer goods boom, supply chain kinks

Reuters


SINGAPORE – Global container shipping rates have surged to records on a spike in restocking demand in the United States and Europe, container scarcity at export hubs, and changes in freight flows because of the coronavirus pandemic, shipping sources …

November 18, 2020 - 2:30 pm Closing Bell Story‎, International, Marine Shipping
Source: Reuters

China’s oil buying binge to run on in 2021 as tank operators, refiners stock up

Reuters


SINGAPORE/BEIJING  – China’s commercial oil stockpiling sector, which emerged as a key swing buyer of crude as prices plunged earlier this year, is setting plans to grow again in 2021, supporting a further boost in imports.

Private tank farm …

Source: Reuters

Special Report: Phantom buyers in Russia, advice from Iran help Venezuela skirt sanctions

Reuters


MEXICO CITY – On Aug. 21, a tanker called the Otoman docked at the Jose oil terminal on Venezuela’s coast in the Caribbean to load 1.82 million barrels of heavy crude, according to the state oil company’s internal documents.…

Covid impacts crude oil tanker rates and are likely to remain low until global petroleum demand increases

Covid impacts crude oil tanker rates and are likely to remain low until global petroleum demand increases

EIA

Oil & Gas 360 Publishers Note: We have been covering the floating storage issues on our Daily Energy Market  News Desk, and the subsequent impact on world crude pricing. 

In March and April 2020, reduced demand for crude …

October 28, 2020 - 7:45 am Crude Oil News, International, Marine Shipping, Storage
Source: Reuters

Cargo from Dubai arrives in Haifa, cementing Israel-UAE trade route

Reuters


HAIFA, Israel – The ship-to-shore crane paused above the cargo ship just arrived from Dubai, then set its load down on the pier in Israel.

One after another, eight containers filled with electronics, cleaning supplies, iron and firefighting equipment …

October 12, 2020 - 10:00 am Closing Bell Story‎, International, Marine Shipping
LNG Carriers Wait in Gulf of Mexico for Hurricane Delta to Pass

LNG Carriers Wait in Gulf of Mexico for Hurricane Delta to Pass

Marine Link


More than half a dozen liquefied natural gas (LNG) tankers were waiting to enter U.S. export plants in the Gulf of Mexico as Hurricane Delta marches toward the Gulf Coast.

Most tankers were located outside of Cheniere Energy …

October 7, 2020 - 9:22 pm LNG, Marine Shipping
Offshore Oil and Gas Firms Prepare for Yet Another Massive Hurricane

Offshore Oil and Gas Firms Prepare for Yet Another Massive Hurricane

Image source: National Hurricane Center HOUSTON (Reuters) – Oil and gas workers wit…