rss icon Subscribe
desktop mobile

Tankers

Stena Bulk to Run MR Tanker on 100% Biofuel

During the coming weeks, MR tanker Stena Immortal will run on 100% biofuel (Photo: Stena Bulk)

Swedish based tanker shipping company Stena Bulk will become the latest to run a ship on biofuel as owners and operators explore alternative fuels to help slash emissions.During the coming weeks, Stena Bulk will perform a test running MR tanker Stena Immortal on 100% MR1-100 bio-fuel oil, produced from

China Merchants Energy Shipping's Unit Orders and Sells Ships

China Merchants Energy Shipping Co Ltd  says it inked a deal to order four ships worth up to $118.7 million.It has also agreed to sell three ships worth $15 million to Sinopec Fuel Oil Singapore and Sinopec Fuel Oil Sri Lanka.

Brent's Fall Creates Steepest Contango in 11 Years

Oil Tanker - Image by Gudellaphoto - AdobeStock

The discount on front-month Brent crude oil futures to later contracts increased to an 11 year high on Thursday, as the coronavirus pandemic continued to cause an unprecedented slump in global demand. The spread on the May to November contracts had widened to as much as minus $10.31 per barrel at 1004 GMT, a level not seen since January 2009.

Coronavirus-related Inspections Delay Venezuelan Oil Exports

© Igor Dashko / MarineTraffic.com

At least two cargoes of Venezuelan crude have been delayed due to health inspections aboard tankers to prevent the spread of the coronavirus, according to an internal document from state oil company Petroleos de Venezuela seen by Reuters.The delays add to a growing glut of tankers loaded with Venezuelan

Saudi Arabia's Tanker Power Play Could Backfire

© Carabay / Adobe Stock

Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments.That could leave the kingdom stuck with tens of millions of barrels in expensive ships at anchor when the

Tanker Rates Fall, but Storage Demand Stays Firm

© Vladimir / Adobe Stock

After a frantic week that sent crude oil freight rates to record highs amid a bookings bonanza to ship Saudi oil to the world, rates are now easing as charterers balk at the nosebleed charges and await Saudi volume plans for April, shipping sources said."Sentiment remained softer today," said one ship

BP to Store Jet Fuel at Sea as Glut Looms

Stena Polaris (Photo: Concordia Maritime)

BP has provisionally chartered a 60,000 tonne tanker to store jet fuel at sea starting this week, trading sources said on Wednesday, after a collapse in demand from the aviation sector due to the coronavirus pandemic led to a huge glut.Asian jet fuel refining margins and European jet fuel prices dropped

BIMCO Revises 2020 Forecast

© Igor Yu. Groshev / Adobe Stock

The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the full consequences. Nevertheless, we see a need to update our 2020 forecast to make some of this massive uncertainty tangible.What is going on in addition to

Shell Books Supertanker to Store Crude Oil at Sea

© Nightman / Adobe Stock

Royal Dutch Shell has booked a supertanker to store 2 million barrels of oil at sea to park mounting global stocks, shipping sources said on Wednesday.Shell declined to comment.The sources said Shell had booked a very large crude carrier (VLCC), which can store up to 2 million barrels of oil, for a five-month charter.

Indonesia Revokes Rule Requiring Domestic Ships for Some Exports

© Stephane Rochon / Adobe Stock

Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinating Minister for Maritime and Investment Affairs Luhut Pandjaitan told reporters on Wednesday.Indonesia, the world's biggest thermal coal exporter, issued regulations

Team Tankers Forms JV with V.Group

© Carlos Antonio Perez Dasilva / MarineTraffic.com

Tanker shipping company Team Tankers International Ltd. said it has formed a joint venture (JV) with ship management specialist V.Group, whereby Team will transfer its in-house managed fleet, consisting of ten MRs and two 25k coated vessels, to the JV, along with its on shore technical organization and seafaring expertise.

Glencore Charters World's Largest Tanker to Store Crude

ULCC Europe (Photo: Euronav)

Trading house Glencore has chartered the 3 million barrel crude carrier Europe to store oil at sea for at least 6 months, trading sources on Tuesday.The vessel is one of two so-called ultra large crude carriers (ULCC), the largest tankers in the world.Glencore booked the vessel at a rate of $37,000 a day for the first six months,

Chembulk Tankers to Join Womar

Chembulk Tankers signed commercial management agreements for its entire fleet of owned and chartered stainless-steel chemical tankers to enter commercial pools managed by Womar Logistics. “Chembulk’s commercial shift to the Womar chemical pools places our quality vessels in an established and growing revenue sharing platform,

Sovcomflot Updates Fleet Status

Image: Sovcomflot

PAO Sovcomflot (SCF Group), a Russian maritime shipping company specializing in petroleum and LNG shipping, announced that it has taken delivery of four newbuildings during last year.Three ‘Green Funnel’ LNG-fuelled Aframax crude oil tankers (Korolev Prospect, Vernadsky Prospect, Samuel Prospect) and Mikhail Lazarev,

Maritime Apps