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Tankers

S.Korea LNG Imports Set to Ease from Record

© alexyz3d / Adobe Stock

South Korean imports of liquefied natural gas are set to ease from record levels racked up in the first-half of the year, with appetite for the fuel from utilities seen fading as a raft of nuclear power stations come back online.The country's imports of the commodity jumped nearly 16 percent year-on-year to a record 22.

First of Six New LNG Carriers Delivered to BP

(Photo: BP Shipping)

BP Shipping has taken delivery of British Partner, the first of a half dozen new 173,400 cubic meter capacity liquefied natural gas (LNG) carriers to be delivered through 2018 and 2019 from the DSME shipyard in South Korea.BP Shipping, which launched a fleet rejuvenation program in 2016 that includes

Novatek Ships First LNG Cargo to China via Arctic

Eduard Toll (File photo courtesy Teekay)

Russian natural gas producer Novatek delivered on Thursday the first ever liquefied natural gas (LNG) cargo to China via the Northern Sea Route (NSR) alongside the Arctic coast, which drastically cuts delivery time to Asian consumers.The shipments of LNG from Yamal LNG project via the NSR to China cuts

Japan's LNG Imports Slide to Lowest Since May 2016

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Japanese imports of liquefied natural gas (LNG) in June fell to the lowest in more than two years as the country's utilities switched on more nuclear reactors that had been shut in the wake of the Fukushima atomic disaster in 2011.Japan has six reactors operating and three others have passed safety inspections and could be operating by October,

US Accuses N.Korea of Fuel Smuggling

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The United States accused North Korea on Thursday of breaching a U.N. sanctions cap on refined petroleum by making illicit transfers between ships at sea, according to a document seen by Reuters, and demanded an immediate end to all sales of the fuel.The United States submitted the complaint to the U.

Stena Bulk Grows Sonangol Suezmax Pool

(Photo: Stena Bulk)

Over the last six months, Stena Bulk has expanded its fleet in the Sonangol Suezmax pool with the addition of six Suezmax tankers: SKS Skeena, Istanbul, Almi Galaxy, Almi Voyager and Almi Sky. The TC in fleet consists of modern tonnage of varying length and with different options.“In what has generally speaking been a stable low market,

Philly Shipyard Looks to End Order Drought

(Photo: Philly Shipyard, Inc)

Philly Shipyard said it is in the early stages of potentially securing an order to build two Jones Act compliant medium range (MR) product tankers for an undisclosed buyer.The U.S. shipbuilder revealed in its second quarter report that it has executed a nonbinding Term Sheet with a potential customer for the construction of two newbuild 50,

d'Amico International Shipping Sells MT High Trust

MT High Trust. Photo: © Robert Weber, Marinetraffic.com

 Luxembourg-based d’Amico International Shipping announced that its operating subsidiary d’Amico Tankers signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Trust for a consideration of US$ 29.5 million.   The marine transportation company operating

d'Amico International Shipping Sells Handy Vessel Cielo di Milano

Cielo Di Milano. Photo: Port of Hamburg

 d’Amico International Shipping nnounced that its operating subsidiary d’Amico Tankers (Ireland)  signed a memorandum of agreement for the sale of the MT Cielo di Milano, a 40,081 dwt handy product tanker vessel, built in 2003 by Shina Shipbuilding, South Korea for a consideration of US$ 8.025 million.

US Oil Exports to India Soar Ahead of Iran Sanctions

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U.S. crude oil exports to India hit a record in June and so far this year are almost double last year's total as the Asian nation's refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration.U.S. President Donald Trump's administration has been pressuring its allies

Shipping’s Half Year Report: Extra Classes Needed?

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With the industry hoping for better “grades” after the “effort” of recent years, this week’s Analysis updates our half year shipping report showing a ClarkSea Index up 9% y-o-y but still below trend since the financial crisis (see Graph of the Week). After comments of “must do better” and “showing potential” in recent years,

Key Oil Export Terminals Reopen in Libya

Damage at Ras Lanuf terminal June 18, 2018 (Photo: NOC)

Tripoli-based National Oil Corp (NOC) said on Wednesday four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of Libya's oil output.Production and export operations would be restored "within the next few hours", an NOC statement said,

Samsung Heavy Industries Delivers New Vessel to Nordic American Tankers

Image: Nordic American Tankers

 South Korea's Samsung Heavy Industries (SHI) delivered the first new building, named Nordic Aquarius, to Nordic American Tankers (NAT).   The Bermuda-based NAT said in a press release: "We have previously advised you of the new buildings coming from Samsung shipbuilding in South Korea in 2018, the first one now in July.

BW Group Acquires Higher Stake in Hafnia Tankers

Photo: BW Group

 BW Group has entered into a definitive agreement to buy a 36.3% stake in Hafnia Tankers, a shipping company formed by the management team of former Tankers Inc.    The majority of the shares will be acquired through BTS, a collaboration between Blackstone-managed funds, Tufton Oceanic and Hartmann,

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