Oil Tankers Turn Away From Venezuela as More Sanctions Loom
Oil tankers that were sailing toward Venezuela have turned around and others have left the country’s waters as the United States considers blacklisting dozens of ships for transporting Venezuelan oil, according to shipping data and industry sources.The threat of tighter sanctions is already disrupting the global shipping market. Chinese oil firms are considering whether to decline to charter any tanker that has visited Venezuela in the past year, no matter where the ship is now or for what voyage, four shipping sources told Reuters on Tuesday.Washington is seeking to oust the socialist government of President Nicolas Maduro by choking the oil exports that provide its main source of income.
Verifavia Performs Audit for Dynacom
Verifavia, the world’s leading emissions verification company for the transport sector (aviation and shipping), has commenced a ‘pre-verification GAP-Analysis’ audit for Greek-based Dynacom Tankers Management Ltd. (Dynacom). The tanker operator is taking proactive steps to meeting the requirements of the EU’s Monitoring, Reporting and Verification (MRV) Regulation (2015/757), which came into force on 1st July 2015. The regulation is the industry’s first step towards cutting CO2 emissions from maritime transport in the European Union (EU). From August 2017, all ship owners and operators operating ships exceeding 5,000 GT within the EU will be required to submit a Monitoring Plan (MP) to verifiers…
Highest Tanker Shipping Rates in Six-Years
Morgan Stanley and Evercore Partners Inc. predicting the highest shipping rates in six-years are possible with demand to store oil on vessels is strengthening, says a Bloomberg report. Supertanker owners from Tokyo to Athens days that oil-at-sea storage demand has gone up. Frontline Ltd., Nippon Yusen Kaisha and Dynacom Tankers Management Ltd., who control 11 percent of the fleet, said orders are multiplying as the global oil glut expands. Brent crude plunged 60 percent since June. The report says that the price of oil for delivery at later dates is so far above current costs, a market structure known as contango, that it can be profitable to store cargoes and lock in returns now in the futures market.
Drydocks World & Dubai Maritime City Participate In Posidonia
Drydocks World & Dubai Maritime City, the international service provider to the shipping, maritime, offshore, oil, gas and energy sectors, announced its participation in Posidonia from June 2-6, 2014, at Metropolitan Expo, Athens, Greece. The exhibition is one of the largest industry shows in Europe.Drydocks World & Maritime World has been a regular participant at the exhibition as it provides an unique access to Greek and international ship owners and buyers. According to His Excellency Khamis Juma Buamim, Chairman of Drydocks World & Maritime World, “We are really pleased to be back once again at Posidonia, an event that takes place every two years in which we participate on a very regular basis.
Hijackers Release Tanker, Dynacom Says
The oil tanker reported missing on January 18 at Angola, Luanda Anchorage was allegedly released by hijackers, according to a statement from the vessel's owner, Greece-based Dynacom Tankers Management Ltd. The Liberian-flagged MT Kerala was hijacked by pirates who stole a large amount of cargo before leaving yesterday, Dynacom said, adding that it was able to reestablish contact with the ship’s master, and all crew members are alive and accounted for. One injury has been reported. “Representatives of international law enforcement and intelligence agencies that are experienced in dealing with piracy incidents will be attending on board…
Pirates Board SuezMax Oil Tanker off Somalli Coast
Operators Dynacom Tanker Management report their motor tanker 'Smyrni' hijacked by pirates in the Arabian Sea At approximately 1115 UTC on 10 May, 2012, an oil tanker managed by Dynacom Tankers Management Ltd. was reported hijacked while it was transiting the Arabian Sea. The Liberian-flagged Tanker, the M/T SMYRNI, is carrying a cargo of 135,000 MT of crude oil. The operators say that no communications have been received from the ship since the ship was boarded. Dynacom Tanker Management's top priorities are the safe return of the ship and crew and the integrity of the cargo and they have notified all relevant authorities. This is the largest ship to be seized in over a year.
Supertanker Rates May Jump Next Week
According to a report from Bloomberg, the chartering manager of Dynacom Tankers Management Ltd., an Athens-based operator of supertankers, told Bloomberg that vessel supply is balanced and rates are expected to go from 70 to 75 Worldscale points by next week. (Source: Bloomberg)
Oceanfreight Names New COO
OceanFreight Inc., a provider of seaborne transportation services announced today that Michael Gregos was appointed as the Company's Chief Operating Officer. The search for a Chief Financial Officer is still ongoing. Prior to joining OceanFreight in September 2007, Michael Gregos was Project Manager for Dynacom Tankers Management Ltd. which he joined in 2001. Prior to that period, he worked for a shipping concern based in Athens and New York for five years and the Corporate Finance arm of a Greek bank for one year. He is a graduate from Queen Mary University in London and holds an MSc in Shipping, Trade and Finance from City University.
