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Tankers

Scorpio Tankers to Sell, Leaseback Five Product Tankers

Photo: Scorpio Tankers

 Scorpio Tankers announced that it has agreed to sell and leaseback three MR product tankers (STI Ville, STI Fontvieille and STI Brooklyn) and two LR2 product tankers (STI Rose and STI Rambla) to AVIC International Leasing Co., Ltd. Upon completion, the Company’s liquidity is expected to increase by

Torm Stops Taking Orders in Iran Due to US Sanctions

(Photo: Torm)

Danish oil product tanker operator Torm on Tuesday said it has stopped taking new orders in Iran as a consequence of U.S. plans to reimpose sanctions on Tehran."We follow the situation closely and always follow the rules. Therefore, we have also stopped taking new orders in Iran," a spokeswoman told Reuters.

Norway Expects Gas Export Prices to Slip in 2019

© Carabay / Adobe Stock

Prices of Norwegian gas exports are likely to rise slightly this year amid strong demand, but will fall back in 2019 as liquefied natural gas (LNG) deliveries in Europe are expected to increase, the government said in its revised budget on Tuesday.Europe's largest gas supplier after Russia forecast gas export prices would rise by 0.

U.S. Coast Guard Responds to Collision

Coast Guard marine inspectors and investigators are investigating the cause of the collision and assessing the damage to the Tofteviken’s hull, and to ensure appropriate repairs are completed. Photo Credit: USCG Sector NY

The Coast Guard Sector New York is responding to a report of a collision at sea May 12, 2018, involving the loaded tankship Tofteviken and the commercial fishing vessel Polaris.   Coast Guard marine inspectors and investigators are investigating the cause of the collision and assessing the damage to the Tofteviken’s hull,

Gunvor to Lease Exmar FSRU

Photo: Exmar

 Gunvor will lease the floating storage and regasification unit (FSRU) for ten years from the Belgian gas tanker company Exmar.   "Exmar is pleased to announce that it has executed a fully effective ten year charter with Gunvor for the provision of its FSRU (floating Storage and Regasification Unit) barge and related services in Bangladesh,

Kutubu Light Crude Oil Exports to Resume in Spot Trade

Sales of Kutubu Light crude oil cargoes will resume in the Asia spot market in July after a major earthquake in Papua New Guinea shut production from late February to early April, three industry sources said on Monday.While production at the facility resumed in early April, producers of the light crude

China's Crude Oil Futures Boom Amid Looming Iran Sanctions

© Igor Groshev / Adobe Stock

A U.S. decision to reimpose sanctions on Iran is supporting China's newly established crude oil futures, and may spur efforts to start trading oil in yuan rather than dollars, traders and analysts said.Since launching in March, Shanghai crude oil futures have seen a steady pick-up in daily trading,

ADNOC to Run Ruwais Container Terminal

Photo: ADNOC Logistics and Services

 ADNOC Logistics and Services, the shipping and services arm of the Abu Dhabi National Oil Company (ADNOC), has signed a contract with Borouge, a leading provider of value creating plastics solutions, to handle its Ruwais container terminal operations.   The five-year contract, awarded through a competitive bidding process,

Shell Gets Mexico LNG Supply Tender

Photo: Royal Dutch Shell

 Royal Dutch Shell will supply Mexico with six LNG cargoes to be delivered in May and June, Reuters has reported, citing trade sources.   State-run utility CFE held a tender on 2 May for deliveries to Mexico’s Altamira terminal in the Gulf of Mexico.   According to the tender, deliveries are set

Diesel Tankers Turn to New York after Stocks Drop

© GM.Simon / MarineTraffic.com

Tankers carrying diesel from Asia and Europe, including a giant 200,000 tonne cargo, are sailing towards New York where fuel supplies have dropped to a three-year low in recent weeks.The very large crude carrier (VLCC) Maran Aphrodite changed its destination on Friday to New York from its previous port of Rotterdam,

ABS to Class Kyklades VLCCs

ABS said it has been selected to class two additional very large crude carriers (VLCC) being built for Greek shipping company Kyklades Maritime Corporation. The contract brings the number of Kyklades VLCC orders classed by ABS to four, with two already under construction.The 319,000-dwt vessels, each 330 meters long,

Gorgon LNG Faces Scrutiny on Delayed Carbon Capture Project

(File photo: Chevron)

The state of Western Australia has ordered an inquiry into a delay in burying carbon dioxide emissions at Chevron Corp's Gorgon liquefied natural gas (LNG) project, which could lead to a change in conditions on the project.The state approved the $54-billion Gorgon project in 2009 on the condition that

Croatia Acts to Cut Red Tape for FSRU Terminal Project

© Wojciech Wrzesien / Adobe Stock

The Croatian government proposed a special law on Thursday to facilitate the construction of an EU-backed liquefied natural gas (LNG) terminal in the northern Adriatic.The floating terminal is expected to start operations in 2020.The European Union wants the facility to help diversify sources of supply and reduce dependence on Russian gas,

Buyers Seek US Waivers to Buy Iranian Oil amid New Sanctions

© nicolagiordano / Adobe Stock

South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. sanctions on Tehran, which will tighten world oil markets and push up prices.Iran is the third-largest oil producer in the Organization of the Petroleum

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