Tanker Trends

Joe Pyne Joins DHT Holdings’ Board of Directors

Crude oil shipper DHT Holdings, Inc. announced today that it has appointed Joseph H. Pyne to its board of directors, expanding the board from three to four independent directors.

Nigeria Ramps up Push to Eradicate Oil Theft

Nigerian authorities hope to put an end to rampant oil theft in eight months by increasing drone and naval monitoring of territorial waters and working with local communities,

TEN Charters Tanker at 20% Premium

Tsakos Energy Navigation Limited announces two-year charter renewal at a 20 percent premium to prior contract reflecting strong tanker market fundamental, oil price

Brent Crude Falls More than 7 Percent

Brent crude futures tumbled more than 7 percent on Tuesday, falling back below $50 a barrel as data highlighting China's contracting manufacturing sector revived

Gunvor Emerges as Winner in Rosneft's Jumbo Oil Tender

Trading house Gunvor, which has been selling assets in Russia, has again emerged as the winner of a semi-annual Rosneft tender, traders said on Tuesday.   They said Gunvor would lift from 200,

Oil Exports Could Push US Gasoline Prices Lower

The price of U.S. gasoline could fall if Washington were to allow crude oil exports, an independent government report on Tuesday concluded, adding political firepower

New Tanker Stena Imperial Named in Savannah

A new 50,000 DWT MR chemical and product tanker based on the IMOIIMAX concept, Stena Imperial, was named yesterday in Savannah, Ga.   Built by Chinese shipyard

Tankers to Require Stability Instruments Starting 2016

Lloyd's Register informs that new stability instrument requirements will apply to all tankers constructed (keel laid) on or after January 1, 2016. These ships will

Fleet Growth Weighs on Product Tanker Earnings

Healthy returns enjoyed by the product tanker market in recent years are under threat as impending fleet growth is expected to reduce the sector’s earnings over the medium term,

Oil Falls on Weak China Factory Data

China manufacturing contracts at fastest in 3 years. Oil prices fell sharply on Tuesday after official data showed China's giant manufacturing sector, one of

Hundreds of Rail Tank Cars Now Idle

Amid the rolling mountains surrounding this quiet town in southwest New York state, tucked away on miles-long stretches of underused rail tracks, hundreds of idle

Braskem, Petrobras Naptha Deal Being Finalized

Brazilian petrochemical company Braskem SA said on Tuesday it was finalizing a short-term extension of its contract to buy naphtha from state-run oil company Petrobras,

Traders Scramble for Caribbean Crude Storage

Demand for crude storage in the Caribbean, one of the world's most important oil hubs, is rising as producers and traders try to ride out the worst price crash

Weak China Metrics Might not Lower Commodity Imports

China's various purchasing managers' indexes gather significant attention as indicators of the health of the world's second-biggest economy, but they are less useful

Gazprom to Sign Gas MOU with CNPC

Russia's top natural gas producer Gazprom will this week sign a memorandum of understanding with China's CNPC on Russian pipeline gas supplies during President Vladimir Putin's visit to Beijing,

Asian LNG Price Faces Steep Fall

Asian liquefied natural gas (LNG) prices could fall a further 25 percent in coming months as new supply, falling demand and weaker oil prices put it on par with

Chinaoil Propels Asia August Crude Volumes to Record High

Chinaoil buys 72 cargoes, or 36 million barrels, in August. The number of cargoes traded during a pricing process for Middle East crude exports to Asia hit an all-time high in August as Chinaoil,

Strong Returns for Sovcomflot

 Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months.

CSDC Profts Soar

 The bulker and tanker unit of state conglomerate China Shipping Group, China Shipping Development Co (CSDC) has delivered a first half performance which saw its profit spike,

Med Crude-Russian Urals Edges Lower in Med, Baltic

Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said.

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