Post Tagged with: "Oil tankers"

Source: Reuters

Pandemic forces virtual safety checks for oil tankers

Reuters


LONDON – Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships …

Source: Reuters

Oil tanker freight rates fall ahead of OPEC+ meeting

Reuters


SINGAPORE – Supertanker freight rates have fallen after last week’s highs as industry participants await the outcome of a meeting of oil producers on Thursday before making further bookings, industry sources said.

Freight rates could drop further if the …

April 8, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
U.S. sanctions hit global oil fleet as traders shun nearly 300 tankers

U.S. sanctions hit global oil fleet as traders shun nearly 300 tankers

Source: Reuters


MEXICO CITY/SINGAPORE (Reuters) – Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said.

The move has taken roughly …

Oil Tankers Dodge Top Mideast Refueling Hub After Ship Attacks

Oil Tankers Dodge Top Mideast Refueling Hub After Ship Attacks

From The Houston Chronicle


Oil tanker owners are avoiding sending their ships to the Middle East’s main refueling hub after a spate of attacks on vessels in the past two months ratcheted up tensions and highlighted the growing risks of …

Ports Jockey for Booming U.S. Crude Oil Export Trade

Ports Jockey for Booming U.S. Crude Oil Export Trade

Texas ports are taking measures to deepen, widen ship channels, expand port capacity; Florida port receives cargo from new Aframax crude tanker
By Bevo Beaven, Editor, Oil & Gas 360

The Texas Gulf Coast is host to two ports working

Get Used to Oil Tankers Hauling Seawater to America

Get Used to Oil Tankers Hauling Seawater to America

From Bloomberg

Supertankers hauling seawater across the Atlantic? That’s just one of the odder results of the U.S. shale boom.

Crude oil has always flowed backwards and forwards across the world’s oceans. A typical voyage by one of the global …

February 25, 2019 - 3:11 pm Closing Bell Story‎, Crude Oil News, Energy News
Oil Tanker Owners Junked a Record Number of Ships Before Boom

Oil Tanker Owners Junked a Record Number of Ships Before Boom

From Bloomberg

Oil tanker owners scrapped a record number of ships this year. Those who did missed out on a sharp rally in rates.

Owners purged a record 100 of the industry’s main crude carriers so far, with most of …

December 21, 2018 - 12:27 pm Closing Bell Story‎, Crude Oil News, Energy News
Oil Tanker Owners Find Solace in Shale as OPEC Readies Cuts

Oil Tanker Owners Find Solace in Shale as OPEC Readies Cuts

From Bloomberg

America’s shale boom could be about to spare the world’s oil tanker owners from a typical OPEC ravaging.

The producer group and allies decided on Dec. 7 to restrict output from the start of next year by about …

December 13, 2018 - 6:00 am Closing Bell Story‎, Crude Oil News, Energy News
Shipping Energy: What’s Safe, What’s Not?

Shipping Energy: What’s Safe, What’s Not?

Shipping choke points could be security threat

The EIA estimates that approximately 61% of the total world petroleum supply—or 58.9 million BOPD—travelled in maritime tankers. The oil in these tankers represents nearly 28% of the world’s shipping in weight alone.…

Oil Glut Creates $7.5 Billion Traffic Jam at Sea

Oil Glut Creates $7.5 Billion Traffic Jam at Sea

Around 200 million barrels of crude sits in tankers offshore waiting to be delivered

“If you’ve bought 100,000 barrels of crude at $40 (per barrel) that’ll cost you $4 million,” said one oil trader. “And if you’ve calculated another 1.5 …