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Tankers

Saudi Attacks, High Demand Leaves U.S. Short on Oil Tankers

© Carabay / Adobe Stock

 A disruption in global oil flows following attacks on Saudi Arabian facilities has left U.S. crude exporters without enough tankers to cover rising demand for cargoes, traders and shipping sources said.Missile attacks last Saturday temporarily cut Saudi oil production by more than 5 million barrels per day,

DNV GL Grants AIP for DSME Ethylene Carrier Cargo Tank

The certificates were presented at DSME’s booth at Gastech in Houston (left to right): Odin Kwon, Chief Technology Officer (CTO) of DSME, receives the AIP certificates from Johan Petter Tutturen, DNV GL – Maritime Business Director Gas Carriers (image courtesy of DNV GL)

At Gastech trade fair in Houston, DNV GL presented South Korea’s Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) with Approval in Principle (AIPs) certificates for two new 98,000 cubic meter (cbm) ethylene carrier cargo tank designs. In a hand-over ceremony at the DSME booth, Odin Kwon,

Frontline Says No to Tankers Options from Trafigura

Image: Trafigura

The world's largest oil tanker shipping company Frontline Ltd has declined options to buy four more tankers from Trafigura Marine Logistics (TML) and said that it will keep to buying only 10 tankers.Last month, the Bermuda based company announced an agreement with TML  to acquire ten Suezmax tankers,

IMI Shipyard Inks VLCC Order with HHI

IMI & Bahri L-R: Mr. Fathi K. Al-Saleem, Chief Executive Officer, IMI Eng. Abdullah Aldubaikhi, Chief Executive Officer, Bahri. Photo: IMI

Saudi Arabia’s International Maritime Industries (IMI) has signed a vessel purchase agreement (VPA) with the National Shipping Company of Saudi Arabia (Bahri) and a subsequent sub-contract agreement with South Korean shipbuilder Hyundai Heavy Industries (HHI) to build one very large crude carrier (VLCC).

ABS, SHI to Develop Next Generation LNG Carrier

Photo: ABS

ABS, the global provider of classification and technical advisory services to the marine and offshore industries, announced that it is collaborating with South Korean shipbuilder Samsung Heavy Industries (SHI) on a next generation LNG carrier in a joint development project (JDP) signed today at Gastech 2019.

China's Unipec Ramps Up U.S. Crude Shipments

Unipec, the trading arm of Asia's top refiner Sinopec, chartered at least four crude tankers this week from the United States, ramping up purchases after attacks on Saudi Arabia's oil facilities and as trade tensions between the world's two largest economies cool, sources said.Three Aframax vessels that can carry about 750,

Sovcomflot CEO to Switch to Chairman

(Photo: Sovcomflot)

Sergei Frank will step down as president and chief executive of Russian state-controlled shipping giant Sovcomflot after 15 years at the helm, four sources familiar with the decision told Reuters on Tuesday.Frank will give up operational control of Sovcomflot and take over as chairman of the company's board, two of the sources said.

Cargill, Maersk Tankers to Run Joint Pool

Image: Maersk Tankers

Commodities trader Cargill and shipowner Maersk Tankers aim to build a joint Medium Range (MR) tanker pool with more vessels as they seek to cut emissions."The strategic partnership will improve flexibility for customers and reduce fuel consumption and emissions, whilst having a positive impact on time-charter-equivalent earnings for partners,

At Least Two Empty Oil Product Tankers Diverted from Saudi Port

©Patrick Deenik/ MarineTraffic.com

At least two refined product tankers that were due to load at Saudi Arabia's Jubail port in mid to late September have been diverted, data from analytics firm Vortexa showed.The moves come after attacks on Saudi Arabia's oil infrastructure on Saturday that cut the country's crude output by more than

Frontline, Trafigura Extend Suezmaxes Option

Image: Trafigura

Frontline, the world's largest oil tanker shipping company, and Trafigura Maritime Logistics (TML) have agreed to extend an option for Frontline to acquire two Chinese-built suezmax tankers.The first option to acquire two Suezmax tankers expires on 12 September 2019. Frontline and TML have agreed

USCG Shuts Upper Houston Ship Channel Amid Protests

The U.S. Coast Guard closed the upper Houston Ship Channel on Thursday morning as 11 Greenpeace USA protesters blocked a portion of the country's largest oil port near Baytown, Texas, the agency said.The channel is closed from Light 102A to Light 104, the Coast Guard said in a notice.The closure of

Hunter Join's World's First Scrubber VLCC Pool

Image: Tankers International Pool

Hunter Tankers, a subsidiary of Norwegian investment company Hunter Group, has selected Tankers International Ltd as commercial manager for its fleet of very large crude carriers (VLCCs).According to Oslo-based company, Tankers International, a chemical tanker company, would establish “the world’s first scrubber-fitted VLCC pool.

LNGC Containment Market to Reach $16Bln By 2025

Image: Teekay LNG Partners

The global liquefied natural gas (LNG) carrier containment market was USD 11.21 billion in 2018 and is expected to reach around USD15.56 billion by 2025, growing at a CAGR of 4.9% between 2019 and 2025.The LNG carrier containment market is majorly driven by the rising demand for natural gas from various

Iran says Tanker Oil Sold at Sea, Buyer Sets Destination

©MarineTraffic.com

Iran's envoy to London said on Wednesday the oil cargo of tanker Adrian Darya 1 was sold at sea to a private company, denying Tehran had broken assurances it had given over the vessel, but he insisted EU's Syria sanctions did not apply to Tehran."At (the) meeting with the British Foreign Secretary,

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