The Maritime Industry's original and most viewed E-News Service
The opening of the offshore season in northern waters has seen specialist oil industry vessels return to Lerwick Harbor during April to support subsea development projects.
For much of 2015, talk of floating storage was dominated by speculation that the contango in crude futures might support crude floating storage, says Gibson Tanker Report.
Russia is set to export 1.256 million tonnes of ultra-low sulphur diesel from the Baltic Sea port of Primorsk in May, slightly up from 1.209 million tonnes in April, trading sources said on Friday.
International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed but that would depend on global economic growth.
Asked if oil prices had reached a bottom,
* Earnings of $1.8 billion decreased 63 percent from the first quarter of 2015.
* Earnings per share were $0.43 assuming dilution.
The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa