Tanker Trends

Fitch Updates Oil Vessel Financing Criteria

Fitch Ratings has published the latest version of its criteria for rating oil vessel backed financings in Latin America. This report updates and replaces the prior criteria of the same name dated Jan.

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

Benghazi Port Still Closed, Imports Rerouted

The commercial port in Libya's second city, Benghazi, remains closed due to fighting between pro-government and Islamist forces, forcing wheat imports to make a detour via Tobruk harbour,

EGAS Tenders for as many as 48 LNG Cargoes

Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery in 2015/16, three traders said. A senior

Teekay Tankers to Acquire 5 Tankers

   Teekay Tankers Ltd. announced that it will acquire four coated Aframax tankers and one uncoated Aframax tanker for an aggregate purchase price of approximately $230 million.

NASSCO Cuts Steel on APT "ECO Tanker"

General Dynamics NASSCO started construction of another ship in its commercial shipbuilding backlog, starting construction of a second “ECO” tanker to be built

Oil Prices Retreat from Short-covering Rebound

Global crude prices fell more than $1 a barrel on Thursday, retreating from a short-covering charged rally as traders bet the market had not shaken off a six-month long rout on oversupply concerns.

Saudis: OPEC Can't Cut Pricing Without Help

Saudi Arabia's powerful oil minister said on Thursday that OPEC could not cut output without the support of other big producers and attempts to get them on board had not worked.

Slashed Energy CapEx Pumps Brent Pricing

More companies cut upstream investments around world; strong U.S. production continues to drag on prices. Brent crude jumped 3 percent to above $63 a barrel on Thursday,

INTERTANKO Launches ECA Bunker Surcharge Clauses

INTERTANKO’s documentary committee has launched bunker surcharge clauses for Emission Control Areas (ECA).   Rising bunker prices due to rising oil prices and

DSME Returns for More Dual-Fuel Engines

MAN Diesel & Turbo received an order for four MAN B&W 5G70ME-GI engines in connection with Daewoo Shipbuilding & Marine Engineering Co.,Ltd. (DSME) agreeing a deal

USCG Addresses Future of Marine Fuels

The future of marine fuels from the Liquefied Gas Carrier National Center of Expertise   The Pacific Merchant Shipping Association hosted The Future of Marine

IMF: Gulf Can cope with Cheap Oil

The Arab energy exporting states of the Gulf can cope comfortably with sliding oil prices, an International Monetary Fund official said on Tuesday, as a plunge

Sovcomflot Names New LNG Carrier

Russia’s largest shipping company is continuing to develop its potential in the LNG transportation segment by entering into a new long-term agreement with Royal Dutch Shell.

Scana Industrier Receives Turret Equipment Order

Scana Industrier ASA has through its subsidiary Scana Offshore Vestby, signed a letter of intent (LOI) for delivery of a FSO turret pull-in and locking system to

MARAD Considers Deepwater O&G Exports

A U.S. agency is considering how the country could export crude oil and natural gas from deepwater ports as the domestic drilling boom adds pressure for Washington

Tanker Markets See Storage Boon from Oil Price Collapse

The oil price drop will hand tanker markets an unexpected bonus next year, boosting demand for oil storage at sea while distant eastern markets also bargain-hunt fuel and need shipping.

Oil at Five-Year Low Before Rallying to $62

OPEC repeats intention to keep output steady despite glut. Crude oil weakest in five years in Asian trading. Brent crude oil hit a fresh five-year low close

Tug KOC Shahem Named in Romania

  On 30 October Kuwait Oil Company (KOC) CEO Mr Hashem Sayed Hashem attended the naming ceremony of the ASD 3212 tug vessel KOC Shahem at Damen Shipyards Galati.

Global LNG Prices Steady, Demand Remains Weak

Asian spot liquefied natural gas (LNG) prices stabilised on Friday, taking a breather from the steady decline seen since September, as demand remained weak in an oversupplied market.

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