Fuel Oil Stored in Ships Near Singapore to Rise on More Russian Supplies
The number of tankers used for storing fuel oil along the Singapore Strait has risen since the Ukraine war broke out and could rise further as more of Russia's supplies hit by sanctions head to Asia, industry sources and analysts said.A rise in floating storage supply along the strategic waterway is an indicator that more supplies are available to Asia, which will help ease tight markets. But, at the same time, it could limit a recovery in spot fuel oil prices for the year and weigh on Asian refining profits for the grade.Earlier this month…
Floating Oil Storage Stacks up in the Singapore Strait
The number of tankers used for storing fuel oil along the Singapore Strait has risen since the Ukraine war broke out and could rise further as more of Russia's supplies hit by sanctions head to Asia, industry sources and analysts said.A rise in floating storage supply along the strategic waterway is an indicator that more supplies are available to Asia, which will help ease tight markets. But, at the same time, it could limit a recovery in spot fuel oil prices for the year and weigh on Asian refining profits for the grade.Earlier this month…
Sovcomflot's LNG-Fuelled Tanker Navigates NSR
Korolev Prospect, Sovcomflot's LNG-fueled Aframax crude oil tanker, completed a commercial voyage along the Northern Sea Route (NSR).The Russian maritime shipping company specializing in petroleum and LNG shipping said in a press release that for the first time in the history of shipping, a large-capacity oil tanker has crossed the full length of the NSR using only cleaner-burning LNG fuel.The voyage from Cape Zhelaniya to Cape Dezhnev took 7 days and 6 hours to complete, during which the tanker covered a distance of 2,118 nautical miles at an average speed of 12.2 knots, said Sovcomflot (SCF).“Both the ice conditions and weather we encountered during the voyage were quite favorable…
An Open Arctic and its Impact on Oil Drilling
William Cho, Head of MatthewsDaniel Weather, a division of the Bureau Veritas Group, explains why improvements in drilling technologies and weather monitoring systems have made offshore shelf drilling operations in the Arctic Circle increasingly attractive to upstream oil and gas companies and their investors. Rising crude oil prices motivate not only technological innovators to explore cheaper alternative energy sources, such as solar panels and wind turbines, but also upstream oil and gas companies to explore new oil reserves which had not otherwise been economical.
Tankship NSR Passage: All Alone Without the Icebreaker ...
Stena Bulk’s tanker 'Stena Polaris', with a cargo of 44,000 tons of naphtha, is sailing from the Gulf of Finland via the North-East Passage to South Korea. The 'Stena Polaris' left Russian Ust Luga in the Gulf of Finland on 17 September 2013, and is expected to arrive at the port of Yosu in South Korea on 18 October. The voyage is a joint project between Stena Bulk and South Korean Hyundai Glovis. IcebreakerTaymyr is leading the way. However there is no more ice, only open water. So there is not really any need for the 36.8 MW nuclear icebreaker to escort us and the Boris Vilkicky any longer.
Turkey To Close Bosphorus Strait For 12 Hours
The Turkish government will close the Bosphorus strait to sea traffic for ships over 3,000 tons for 12 hours from 1600 GMT on December 31 to minimize possible effects from the millennium bug problem in computers. Ships over 3,000 tons will not be allowed to pass through the strait from 1600 GMT on December 31, 1999 to 0400 GMT on January 1, 2000 for traffic safety. Ships longer than 200 m will not be allowed to sail through the 19-mile-long strait unless they provide millennium compliance certificates and ensure that their cargo is not dangerous.
