Tanker Trends

Lithuania Seeking to Renegotiate LNG Supply Contract with Statoil

Lithuania is seeking to renegotiate a liquefied natural gas (LNG) contract with Norway's Statoil due to falling demand, head of energy group Lietuvos Energija said on Tuesday.

Concordia Maritime Charters MR Tanker

Concordia Maritime has signed a contract for the charter of an IMO2/3 class MR tanker, the company announced today. The vessel will be chartered jointly with Stena Weco,

Stena Bulk Orders Tankers from China

Stena Bulk has placed an order for three 50,000 dwt IMOIIMAX MR tankers with the Chinese shipyard CSSC Offshore & Marine Engineering (CSSC OME), formerly Guangzhou Shipyard International (GSI),

Oil Rises on Middle East Tension, Weaker Dollar

Turkey downs Russian-made fighter jet near Syrian border. Oil prices rose on Tuesday as tensions in the Middle East escalated following the downing of a Russian-made

Fredriksen's Firms See Diverging Fortunes

Rig firm Seadrill sees tough market continuing in 2016. Firms in Norwegian-born billionaire John Fredriksen's empire saw contrasting fortunes on Tuesday, as rig firm Seadrill booked $1.

Russia to cut Baltic December Oil Exports

Russian Urals crude oil exports from Baltic Sea ports are seen declining next month, a preliminary loading schedule showed on Tuesday. Urals supplies from the

Navios Maritime to Axe Dividend

Navios Maritime Holdings Inc. a global, vertically integrated seaborne shipping and logistics company, today reported financial results for the third quarter and nine months ended September 30, 2015.

Frontline Reports Strongest 3Q

  * Frontline achieved net income attributable to the Company of $17.4 million, or $0.09 per share, for the third quarter of 2015 and net income attributable to the Company of $65.

Putin Says Eyes Trade Boost with Iran

Russian President Vladimir Putin said on Monday he wants to boost trade ties with Iran after meeting with leaders of the Islamic Republic in Tehran.   Putin,

Commodities Hit 2002 Lows Before Rebounding on Oil

Commodities hit 13-year lows before rebounding on Monday after Saudi Arabia's pledge to work toward crude price stability bolstered oil and France's first wheat

EASTMED Selects Marlink Comms

Greece-based Eastern Mediterranean Maritime Limited (EASTMED), a shipping operator servicing the energy, industrial and agricultural sectors, has chosen to install

Ferguson Supplies DNV 2.7-1 Tote Tanks to South East Asia

Ferguson supplies DNV 2.7-1 offshore tote tanks from their South East Asian bases in Singapore, Thailand, Malaysia and Vietnam. The 4,000 liter tank is used

Parker Bestobell Marine Launches Compact Valve

Parker Bestobell Marine has launched a new compact version of its Float Isolation Valve (FLIV). The compact FLIV, which is 150mm in diameter and 600mm high, was

Bearish Bets on Brent Crude Oil at a High

Investor are betting more heavily on a fall in Brent crude oil than they have at any time in more than a year, according to data on Monday from the InterContinental Exchange (ICE).

Oil Markets Unmoved as Air Strikes Ramp Up

Since the first oil shock of 1973, instability in the Middle East has frequently been associated with higher oil prices. In an industry desperate for positive movement in crude price,

Latest Deliveries Complete Ardmore Newbuild Program

Tanker shipper Ardmore takes delivery of 23rd and 24th vessels, completing its initial newbuilding program Ardmore Shipping Corporation has taken delivery of

BW Offshore Suspends Dividend

BW Offshore, a builder and operator of ships that can produce and store oil offshore, suspended its dividend until outlook for the oil sector improved, it said on Monday.

Hedge Funds Turn Bearish on U.S. Crude

Hedge funds and other money managers had amassed short positions in U.S. crude oil amounting to 154 million barrels by last Tuesday according to data from the U.

Oil Rises as Saudis Work with non-OPEC

Saudi cabinet issues statement reiterating policy. Oil prices turned around to rally on Monday after the Saudi Arabian cabinet said in a statement the kingdom

Malaysia Detains 3 Vessels Over Illegal Oil Transfer

 Three oil tanker ships were detained by the Malaysian Maritime Enforcement Agency (MMEA) off the waters of Pengerang  for illegal ship-to-ship transfer of marine fuel oil (MFO) near Pengerang.

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