Post Tagged with: "Tankers"

Source: Reuters

Exclusive: Oil tankers turn away from Venezuela as more sanctions loom

Reuters


Two tankers that were sailing toward Venezuela to load crude have turned around since the weekend and three other vessels have left Venezuelan waters as the United States considers blacklisting dozens of ships for transporting the country’s oil, according …

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

RarePetro


Oil & Gas 360 Publishers Note:  Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

RarePetro

Oil & Gas 360 Publishers Note:  Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any

May 29, 2020 - 11:25 am Capital Markets, Crude Oil Storage, OPEC
Source: Forbes

Key Indicators On The Oil Price Path ‘After’ Covid-19

Forbes


Undoubtedly, the dominant factor in the oil market for the next twelve to twenty-four months will be the progress of the pandemic, which will reduce economic activity and thus oil demand to an uncertain degree and with unpredictable timing. …

Source: Reuters

Saudi crude buyers cancel at least seven supertankers after freight hike: sources

Reuters


LONDON – U.S. buyers of Saudi Arabian crude oil cancelled at least seven April-loading tankers after a jump in freight costs, two industry sources said, likely to result in lower-than-expected shipments from the world’s top exporter.

The move shows …

Source: Reuters

Saudi Arabia may re-route tankers if U.S. imposes crude import ban: sources

Reuters


LONDON/NEW YORK/MOSCOW – Saudi Arabia is looking into re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the Kingdom, shipping and trade sources say.…

Source: Reuters

Crude oil held in sea storage hits new record at 160 million bbls: sources

Reuters


LONDON – Traders are storing an estimated record 160 million barrels of oil on ships – double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand …

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 …

Source: Reuters

Tanker owners face insurance headache as Mideast war risk haunts shipping trade

Reuters


SINGAPORE – Even as the United States and Iran appear to signal a keenness to avoid further conflict, oil and gas shipowners are bracing to pay a price for the war of words that culminated in rocket strikes in …

January 9, 2020 - 3:00 pm Closing Bell Story‎, Energy News, International
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: AP

Dilemma for oil refiners as surging ship costs kill margins

Source: Houston Chronicle


Oil refiners hoping for some fourth-quarter gravy are facing disappointment as surging freight rates inflate the cost of buying crude.

U.S. sanctions on Chinese shipping companies and Friday’s attack on an Iranian tanker have turbo-charged transport costs, …

October 15, 2019 - 8:32 am China, Closing Bell Story‎, International
Panama Canal Will Not Block Venezuela Vessels Despite U.S. Sanctions

Panama Canal Will Not Block Venezuela Vessels Despite U.S. Sanctions

From Reuters


The Panama Canal will continue authorizing vessels coming from Venezuela provided they present the necessary paperwork, the waterway’s chief said on Wednesday, suggesting a new round of U.S. sanctions on the South American nation should not make a …

Operator of Venezuelan PDVSA’s Fleet Seeks to Detain Tankers to Collect on Late Payments: Reuters

Operator of Venezuelan PDVSA’s Fleet Seeks to Detain Tankers to Collect on Late Payments: Reuters

From  gCaptain/Reuters

German shipping firm Bernhard Schulte Shipmanagement (BSM) has moved to legally detain three of Venezuelan PDVSA’s oil tankers to collect on late payments owed to it by the state-run oil company, according to a document seen by …

May 24, 2019 - 11:54 am Closing Bell Story‎, Energy News, Transportation
OPEC Cuts? Rates Plunge? Oil Tanker Market to Shrug It All Off

OPEC Cuts? Rates Plunge? Oil Tanker Market to Shrug It All Off

From Bloomberg

It’s never ideal if you own a fleet of crude tankers and the world’s oil producers remove millions of barrels of cargo from the market to avert a glut. Nor is a collapse in charter rates normally the …

February 8, 2019 - 5:26 pm Closing Bell Story‎, Crude Oil News, Energy News
Pin Oak Acquires Expansion Land In Corpus Christi: More Rail, Suezmax Tanker Capability

Pin Oak Acquires Expansion Land In Corpus Christi: More Rail, Suezmax Tanker Capability

Pin Oak Acquires Expansion Land In Corpus Christi

Full LNG Tankers Stranded off Singapore, Malaysia

Full LNG Tankers Stranded off Singapore, Malaysia

From Reuters

* Half-dozen tankers sit offshore Singapore with unsold LNG

* Mild winter weather expected for Japan

* Meteorologists expect return of El Nino weather

* Japan has restarted seven nuclear power reactors

SINGAPORE, Oct 25 (Reuters) – A …

October 29, 2018 - 3:10 pm Closing Bell Story‎, LNG
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.…

Teekay Tankers Increases Fleet Size 60% with $662 Million Purchase

Teekay Tankers Increases Fleet Size 60% with $662 Million Purchase

Teekay purchases 12 Suezmax tankers

Teekay Tankers Ltd. (ticker: TNK) announced yesterday that the company purchased 12 Suezmax tankers from Principal Maritime for $662 million. The purchase will increase Teekay’s fleet size by 60%, and be immediately accretive to the …

August 6, 2015 - 6:46 pm Midstream, Oil and Gas 360 Articles