Tanker Trends

Owner Fined for 'Dangerously Unsafe' Vessel

The owner of a harbor tanker has been fined £3,000 with more than £7,000 costs after pleading guilty to a charge of operating a vessel for being dangerously unsafe.

U.S. Refiners Eye Gasoline Demand After Storms

The prospect that U.S. oil refiners might respond to rising stockpiles of refined fuels and weakening margins by cutting the amount of crude they process has roiled oil markets in recent days.

U.S. Refinery Cuts Quicken, Impact Crude Markets

For the past six years, U.S. refiners from Texas to Philadelphia have bought every barrel of crude they can lay their hands on to cash in on a golden era of healthy margins.

Oil Prices Up, Weekly Loss Looms

U.S. crude surges after hitting 12-year low; more talk of coordinated production cut lifts Brent. Oil prices jumped on Friday on prospects of a coordinated production

Maersk Tankers Project Best Performance

Maersk Tankers emerges from 2015 with its best result in many years. Increasing rates and results from the Taking Lead Strategy mean that Maersk Tankers has achieved an underlying result of USD 156 m,

Shipping Corporation Q3 Profit Surges

The Shipping Corporation of India (SCI) declared its unaudited financial results for the quarter ended 31st December 2015 posting a net profit of Rs. 59.66 crores as against a net profit of Rs.

Sea IT, Veritas Tankers Ink Long-term Software Deal

Sea IT has entered a long term ICT agreement with Veritas Tankers. The agreement comprises installation of BlueCORE Generation 4, an ICT platform specifically developed for the marine industry,

Chemical Shipping Freight Rates to Remain Under Pressure

On the back of low bunker prices and more new buildings to be delivered in 2016, chemical shipping freight rates for both contracts of affreightment and spot cargoes

Total CEO: Refining Capacity Cuts Necessary

Total spurs European shutdowns; urges others to follow suit despite strong profits. Refiners buoyed by cheap oil and fat margins face a return of tougher times due to stubborn overcapacity,

Oil Down on U.S. Supplies, Weak Demand

Iran offers crude to Asia at discount to Saudi Arabia. Oil slid on Thursday, dented by record U.S. crude inventories, worries about the demand outlook and a

Glencore's Debt-Reduction Plan Includes Output Cut

Firm to cut 2016 oil production by 20 pct as prices slide. Glencore has taken another step to reduce its debt by selling $500 million of future precious metals output,

Total Proposes 0.61 ‎€ per Share Dividend

The Board of Directors of Total met on February 10, 2016, and agreed to propose to the Annual Shareholders’ Meeting on May 24, 2016, a 2015 annual dividend of 2.

Rosneft, Pietro Barbaro Form JV for Shipping

Rosneft and Pietro Barbaro S.p.A. signed a Memorandum of Understanding with the scope of creating a Joint Venture (JV) in the area of international shipping. The

Top 10 Shipowning Nations by Value

 VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the

TTS Group Secures Marine Equipment Contracts

TTS Group ASA has secured several marine equipment contracts for delivery of heavy-lift cranes for multipurpose vessels and for anchor and mooring winches for LNG tankers.

2016 a Busy Year for VLCC Deliveries - BIMCO

When it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, 2016 is off to a flying start. Six

U.S. Okays ConocoPhillips Alaska LNG Exports

The U.S. Department of Energy approved ConocoPhillips' application to export about 40 billion cubic feet of natural gas from its Kenai liquefied natural gas export

Bibby Tops IoM Ship Management

Bibby Ship Management is once again the largest representative for vessels flying the Isle of Man flag in providing representative services for 30% of vessel tonnage registered on the island.

Maersk Profit Down 82%

Danish shipping and energy conglomerate Maersk Group delivered a profit of USD 925m for the full year ending December 31st 2015, against USD 5.2bn reported in 2014, a drop of 82%.

GTT, DSME Ink Cooperation Deal

GTT, the world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) announces the signature

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