Tanker Trends

Creole Spirit Sets Sail for Sea Trials

Teekay’s first M-type, Electronically Controlled, Gas Injection (MEGI)-powered LNG vessel, Creole Spirit, has sailed out from the Daewoo Shipbuilding & Marine Engineering

House Passes Bill to Repeal US Oil Export Ban, Veto Looms

The U.S. House of Representatives passed a bill on Friday to overturn the 40-year-old ban on oil exports, but the measure did not get enough support to overturn any veto by President Barack Obama,

Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

House Expected to Pass Bill Axing US Oil Export Ban

A bill to repeal the U.S. oil export ban was expected to pass the House of Representatives on Friday, but faces an uncertain future after a veto threat by President Barack Obama.

Trafigura to Supply 2 LNG Cargoes to Indian Oil Corp

Commodity trading house Trafigura will supply Indian Oil Corp. with one liquefied natural gas (LNG) cargo in October and another in November, trade sources said.

Gail India Closes LNG Tender for October/December

Gail India closed its tender seeking one liquefied natural gas (LNG) cargo each in October and December, while it may still be taking bids for two deliveries in November, traders said.

Soraz Refinery Still Not Exporting Despite Restart

China National Petroleum Corp's (CNPC) oil refinery in Niger is continuing to limit production to the domestic market rather than for export, despite resuming after a 45-day shutdown,

Teekay Veteran Glendinning to Retire

Long-time Teekay leader David Glendinning, president of Teekay Gas Services, will retire December 17, 2015, after more than 28 years at Teekay. Stepping up to replace Glendinning is Mark Kremin,

Pemex Restarts Minatitlan Refinery Unit

Mexican oil giant Pemex on Thursday said it had restarted a catalytic plant at its Minatitlan refinery in southeast Mexico, after fixing the plant's temperature sensor.

Amid Commodity Crisis, LPG Emerges with Demand

Biggest growth seen in India; Vietnam and Philippines also see strong growth. Liquefied Petroleum Gas, long a niche product used by the poor to cook and the rich to barbecue,

Oil Set for Best Week Since 2009

Brent set to rise 12 pct this week; PIRA forecasts oil at $70 at end-2016. Oil extended gains on Friday and was set for its biggest weekly rise in over six years after U.

Traders Eye Floating Diesel Storage in Atlantic

Europe diesel stocks reach fresh record high; huge imports from Asia, Middle East weigh on supplies. Oil traders are preparing to store diesel in giant tankers

Tsakos Fixes Three LR2s on Timecharter

 Crude, product and LNG tanker operator Tsakos Energy Navigation Ltd (TNP) announced the charter for an average of 36-months per vessel for its three LR2 Aframax

Amid Commodity Crisis, LPG Emerges as Accidental Bright-spot

Liquefied Petroleum Gas, long a niche product used by the poor to cook and the rich to barbecue, has become a rare bright spot amid a broad commodities rout, riding

Urals Weakens Further in Baltic

Russian Urals crude differentials continued to slide in the Baltic on Thursday amid a flurry of activity with softer refining margins, pushed down by higher oil prices, still keeping buyers at bay.

N. Asia Snaps up Russian Crude Oil

Mideast crude freight to Japan highest since 2010. North Asian refiners have snapped up Russian crude oil loading in the last two months of this year to meet

Commodity Slump Puts Emerging Markets at Risk

Oil, gas and mining accounted for nearly nine percent of all new greenfield foreign direct investment (FDI) projects announced over the last decade. Oil, gas

Oil Spill Statfjord North Sea Field - Statoil

Loading of tankers suspended, unclear when it will resume. Oil spilled into the North Sea during the loading of a tanker at Norway's Statfjord field on Thursday, operator Statoil said.

Venezuelan Crude Exports to US Fell 10% in Sept

Venezuelan crude exports to the United States declined 10 percent in September versus the previous month due to lower sales of heavy and medium grades to some of regular customers,

White House Issues Veto Threat for US House Oil Export Bill

The White House issued a veto threat on Wednesday for a U.S. House of Representatives bill that would lift a ban on crude oil exports, saying the legislation was "not needed at this time.

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