Post Tagged with: "shipping"

Source: Houston Chronicle

U.S. firm invests $100 million into VLCC-ready oil export terminal

Houston Chronicle


Connecticut private firm Prostar Capital plans to invest $100 million into a recently acquired terminal in the Caribbean that will be able to receive some of the largest oil tankers in the world.

Prostar bought the facility on …

An oil tanker anchored near Marseille, France, in 2017. An array of factors are coming together to support high tanker earnings. Photo: jean-paul pelissier/Reuters

Crude Exporters Brace for Sustained High Shipping Costs

Wall Street Journal


The U.S. blacklisting of the Cosco tankers set tanker freight rates on fire, but maritime fundamentals will keep prices high

Crude oil exporters and users probably should get used to high shipping costs.

The freight-rate roller coaster …

Source: Reuters/Rodrigo Garrido

Tankers sail after U.S. allows sanctions-hit COSCO unit to wind down oil deals

Reuters


At least three tankers are on their way to Asia with U.S. oil cargoes after Washington gave temporary approval to wind down transactions with a Chinese shipping company that it sanctioned last month, according to data and shipping sources.…

World Powers Increasingly See Icy Arctic as a Hot Property

World Powers Increasingly See Icy Arctic as a Hot Property

From AP News


From a helicopter, Greenland’s brilliant white ice and dark mountains make the desolation seem to go on forever. And the few people who live here — its whole population wouldn’t fill a football stadium — are poor, …

Iranian Tanker Sought by US Heading Toward Greece

Iranian Tanker Sought by US Heading Toward Greece

From The Houston Chronicle


An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next …

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

From The Houston Chronicle


Iran expects an oil tanker seized by the U.K. in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about …

Can Blockchain Technology Bring Smooth Seas to Global Shipping?

Can Blockchain Technology Bring Smooth Seas to Global Shipping?

Can it shorten transit times, lower costs?

From Stratfor Worldview

Distributed ledger technology has the potential to substantially increase the efficiency of the global shipping industry by lowering costs and shortening transit times.

First movers will compete to set standards …

September 18, 2018 - 5:41 am Closing Bell Story‎, Energy News
Trans-Alaska oil pipeline

A Minimum of 5.7 Billion Barrels Await Drillers at ANWR

The Arctic National Wildlife Refuge (ANWR) is located on the northern coast of Alaska, due east of both Prudhoe Bay and the National Petroleum Reserve-Alaska (NPRA). The coastal plain (the 1002 Area) covers 1.5 million acres and is about 8% …

Too Many Crude Tankers is a Major Obstacle for Market’s Restoration of Balance

Too Many Crude Tankers is a Major Obstacle for Market’s Restoration of Balance

From Hellenic Shipping News

The single biggest stumbling block which is hindering the crude tanker market’s recovery and is bound to continue doing so, is the excess supply of ships, a trend which isn’t going away anytime soon.

In its …

February 13, 2018 - 1:20 pm Closing Bell Story‎, 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.…

The Fuel Mandate that Could Sway Refineries’ Appetites to Lighter Crude

The Fuel Mandate that Could Sway Refineries’ Appetites to Lighter Crude

International Maritime Organization legislation looks to lower emissions from ships to 0.5% from 3.5% by 2020

A push for cleaner fuels in the world’s maritime industry could drastically change the appetite of the world’s refineries, and the producers of …

November 8, 2016 - 6:14 pm Closing Bell Story‎, Downstream, LNG, Oil and Gas 360 Articles
OPEC: Too Close to Call - Oil & Gas 360

OPEC Update: Saudi Strikes Yemen Rebels, Oil Major Fined for Circumventing Sanctions

Conflict near Sea Trade Chokepoint, Schlumberger Fined $232 Million

Prices of West Texas Intermediate (WTI) climbed above $50 for the first time in two weeks after multiple outlets reported conflict in the Middle East. Saudi Arabia has engaged in airstrikes …

March 27, 2015 - 11:29 am International, Oil and Gas 360 Articles, OPEC