Tanker Trends

Idling Fleet Continues to Surge

 Owners are rapidly laying up containerships as the market slows. The size of the idle fleet will get bigger while rates and profits slide, says Drewry Shipping Consultants Limited.

OPEC to Stay the Course in 2016

Gulf delegates say OPEC won't cut supply without non-OPEC. OPEC is determined to keep pumping oil vigorously despite the resulting financial strain even on the policy's chief architect,

BG Group's Australian LNG Plant Fully Operational

BG Group has started commercial operations at the second train at its Queensland Curtis LNG (QCLNG) plant and has taken full control of both trains and associated facilities at the Australian site,

U.S. EPA to Push Biofuels Mandates

The U.S. Environmental Protection Agency (EPA) is widely expected to increase requirements for biofuels use through 2016 due to higher total fuel demand, when it

Egypt to Complete East Port Said Side Channel in 2016

Egypt plans to complete a side channel in East Port Said, near the Suez Canal, that would speed up shipping and allow ships direct entry into the port by the end of June 2016,

U.S. Road Traffic Soars

Traffic on U.S. roads is growing at the fastest rate in almost two decades, as cheap gasoline, coupled with a strong economy, encourages motorists to use their cars more.

Oil Falls as Glut, Dollar Weigh

Dollar at 8 month high against currencies basket; U.S. crude stocks rise 2.6 mln barrels in week ended Nov 20. Crude oil futures fell back towards $45 per barrel

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

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