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Hardy Takes Over as Vitol CEO
Ian Taylor, who helped build Vitol into the world's biggest oil trader, will step down as chief executive and continue as chairman, the company said on Friday, naming a long-time ally and insider…
India's Oil Imports from Venezuela Hit Lowest in over 5 Years
Indian imports of oil from Venezuela have fallen to their lowest levels in over half a decade, shipping and industry data showed, as a severe economic and political crisis hits crude output in the South American OPEC member. India's oil imports from Venezuela averaged around 300,000 barrels per day (bpd) between November, 2017 and February, 2018, a drop of about 20 percent from the same period a year earlier and the lowest such level since 2012…
U.S. Crude Exports to Asia Slump as WTI Outperforms
Exports of U.S. crude oil to Asia appear to be starting to struggle under the weight of a narrowing discount for its domestic benchmark crude to international grades…
Distillate Demand Boost from Shipping Sulphur Rules to be Brief
A sharp increase in demand for distillates following new shipping fuel rules will fade quickly, the International Energy Agency said on Monday. New rules implemented…
Military to Maritime Digital Career Platform Launched
The American Maritime Partnership today announced the launch of the Military to Maritime digital career platform (www.militarytomaritime.org), which is dedicated to helping veterans find meaningful, family-wage jobs in the maritime industry while supporting America’s national and economic security. Building on the numerous Military to Maritime career fairs across the country, the enhanced digital platform connects veterans with career opportunities in the U.S.
BMT Hires Strategy Director Tomlinson
BMT has appointed Guy Tomlinson as Group Capability and Strategy Director. Tomlinson joins BMT from QinetiQ where he led a 35-strong business development team as UK Sales Director. He brings to the role experience from across the maritime, defense, cyber and information and training domains, as well as leading on several sales and business development transformation programs. Prior to joining QinetiQ…
India's Oil Imports Surged in 2017
India's oil imports rose by about 1.8 percent in 2017 to a record 4.37 million barrels per day (bpd) as the country boosted purchases to feed its expanded refining capacity, ship-tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed. To meet its growing fuel demand India, the world's third-biggest oil consumer, raised its refining capacity in the second half of 2017.
Battle of the Atlantic Memorial Planned in Liverpool
A fundraising campaign to build a international memorial dedicated to the estimated 100,000 people who lost their lives during the Battle of the Atlantic in World War II, as well as those who served and survived, is being launched in Liverpool. The Battle of the Atlantic Memorial (BOAM), the charity leading the campaign, will stage a press call with war veterans on the Liverpool’s iconic waterfront…
Moore Stephens: Optimism to Outweigh Shipping Pessimism in 2018
International accountant and shipping adviser Moore Stephens expects optimism to triumph over pessimism in the shipping industry during the next 12 months. Writing in the latest issue of Bottom Line…
Nimitz Carrier Strike Group Returns to Washington
Washington-based ships assigned to Nimitz Carrier Strike Group (CSG) 11 returned Dec. 10, just in time for the upcoming holidays following a six-month deployment…
SBM Offshore to Pay $238 Mln in US Bribery Case
SBM Offshore NV, a Netherlands-based maker of offshore oil drilling equipment, and its U.S. subsidiary, SBM Offshore USA Inc, agreed to settle criminal charges of…
Lubricants Manufacturer Exol Eyes Maritime Markets
A new worldwide distributor deal signed between Yorkshire-based maritime diesel engine specialist Maktec Marine and Midlands headquartered lubricant giant Exol aims to catapult the U.K. lubricants manufacturer into the maritime industry. “Exol is a sleeping giant in the maritime sector,” said Mark Cornforth, owner of Maktec, a brand with 20 years of maritime industry experience. “Exol is flourishing in the industrial…
Brent Oil Stays Above $60
Brent oil held above $60 a barrel on Monday, near its highest since mid-2015, on expectations OPEC-led production cuts would be extended beyond March although rising Iraqi exports put a lid on prices.
Oil Rallies on Chinese Import Boost and Mideast Tensions
Oil prices firmed on Friday as bullish news from strong Chinese oil imports to turmoil in the Middle East put Brent on track for a nearly 3 percent weekly gain. The developments added to other signs that the market was finally rebalancing after years of excess, but analysts warned that the 2018 balance was still shaky. Brent was at $57.20 at 1335 GMT, up 95 cents. U.S. West Texas Intermediate (WTI) crude was at $51.44 per barrel, up 84 cents from its last settlement.
Crowley's 24/7 Response to Puerto Rico Crisis is Ongoing
20 Vessels, 6,500 Loads of Cargo will be Offloaded by Week’s End. The Full-Scale Logistics Operation includes 375 Trucks Used to Expedite Deliveries. With employees…
US Denies Iran Report of Confrontation with US Vessel
An Iranian military vessel confronted an American warship in the Gulf and warned it to stay away from a damaged Iranian fishing boat, Tasnim news agency reported on Sunday, but the U.S.
16 More Bodies Recovered from Sunken Iraqi Ship
Rescuers have recovered the bodies of 16 more sailors from an Iraqi ship that sank at the weekend in the country's territorial waters, bringing the death toll to 20…
USS Rafael Peralta Destroyer Powered by GE Gas Turbines
The U.S. Navy’s USS Rafael Peralta (DDG 115) destroyer was commissioned at its homeport of San Diego, Calif., on Saturday, July 29. The vessel is powered by four GE LM2500 marine gas turbines. “This sophisticated new Arleigh Burke-class destroyer is part of the U.S. Navy’s Flight IIA for the DDG 51 and it is powered by on our LM2500 – the world’s most reliable marine gas turbine – in a combined gas turbine and gas turbine or COGAG configuration…
Hutchison Ports, Basra Port in Management Deal
Hong Kong-based port operator Hutchison Ports has agreed to partner with NAWAH Port Management (NPM) to manage existing and future operations at the Port of Basra in southern Iraq.
ICTSI Net Income Rises 19%
Manila-based global container terminal operator International Container Terminal Services, Inc. (ICTSI) reported unaudited consolidated financial results for the…