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US Navy Ship Fires Warning Shots near Iranian Vessel
A U.S. Navy ship fired warning shots when an Iranian vessel in the Gulf came within 150 yards (137 meters) on Tuesday in the first such incident since President Donald Trump took office in January…
Tanker with Disputed Kurdish Oil Reappears off Malta
The Neverland tanker has reappeared off the coast of Malta after going off radar near Canada on June 30, when it was chartered by oil trader Vitol carrying Iraqi Kurdish crude oil…
Canada Orders Seizure of Oil Tanker
The Federal Court of Canada has ordered the seizure of a 721,915-barrel cargo of crude from Kurdistan aboard the "Neverland" oil tanker on the request of the Iraq Oil Ministry, court documents show.
Saudi Navy Detains IRGC Boat
The Saudi navy has captured three members of Iran's Revolutionary Guard Corps (IRGC) from a boat seized last week as it approached the kingdom's offshore Marjan oilfield…
Iran Raises Oil Exports to West, Almost on Par with Asia
Iran's oil exports to the West surged in May to their highest level since the lifting of sanctions in early 2016 and almost caught up with volumes exported to Asia, a source familiar with Iranian oil exports said. Iran, which used to be OPEC's second biggest oil exporter, has been raising output since 2016 to recoup market share lost to regional rivals including Saudi Arabia and Iraq. While many Asian nations continued to purchase oil from Iran during sanctions…
Qatari Export Costs to Rise as Port Ban Disrupts Trading
Region's largest bunkering hub shuns Qatari vessels; affected shippers may face delays, higher costs. The costs of Qatari energy and commodity exports are likely…
Jawar Al Khaleej Takes Delivery of Two Vessels
Jawar Al Khaleej Shipping LLC (JAK), a provider of specialist services to the offshore oil and gas sector in the Arabian Gulf, has taken delivery of a Damen Fast Crew Supplier (FCS) 5009 and an ASD 3213 tug for operations at the Al Basra (ABOT) and Khor Al Amaya (KAAOT ) oil terminals. Between them, these facilities handle more than 90 percent of Iraq’s crude oil exports. The FCS 5009 is named the Jawar Abu Dhabi and the ASD 3213 is the Jawar Faw.
Cannon Tapped to Lead FLIR Systems
FLIR Systems, Inc. has appointed James J. “Jim” Cannon as its new president and chief executive officer, effective June 19, 2017, succeeding Andy Teich, who will retire after 33 years of service. Cannon previously served for more than 16 years in a variety of senior leadership positions at Stanley Black & Decker, Inc., most recently as president of Stanley Security North America & Emerging Markets.
OPEC Set to Prolong Oil Cuts
OPEC will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude. OPEC's de facto leader, Saudi Arabia, favours extending the output curbs by nine months rather than the initially planned six months, as it seeks to speed up market rebalancing and prevent oil prices from sliding back below $50 per barrel.
Hapag-UASC Tie-up Nears Completion
German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company (UASC) after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters. The deal to create the world's fifth-biggest shipping company, valued at about 7 billion to 8 billion euros ($7.8-$8.9 billion), had been scheduled to complete at the end of last year. It would give Hapag Lloyd access to bigger ships on the major Asia to Europe trade route.
Iraq's Oil Exports Fall in April Amid Port Work, OPEC Cut
Oil shipments from Iraq's southern terminals have fallen so far in April, according to loading data and an industry source, reflecting a temporary drop in export…
Iraq Completes Basra Oil Jetty Repairs
Repair work at a Basra oil jetty damaged by a tanker collision last month were completed on Sunday, two officials at state-run South Oil Company told Reuters on Monday.
Abu Dhabi Ports, Jaheziya Provide Maritime Courses
Abu Dhabi Ports, the master developer, operator and manager of the Emirate's commercial and community ports, as well as Khalifa Industrial Zone, signed a Memorandum…
A Glimmer of Hope for Asia Dirty Tankers
As we enter Q2 2017, Asia’s crude tanker market finds itself flooded with a flurry of newbuilds that hit the water over the last quarter. According to Lloyd’s List Intelligence, new tonnage delivered hit 15m dwt in Q1 and is expected to stand at 8.7m dwt in Q2. The gradual but steady unwinding of floating storage in global hotspots due to a flattening Brent futures curve is likely to release a constant stream of tonnage into the market, exacerbating the situation of oversupply.
India's Oil Imports from Iran top 500,000 bpd in 2016/17
India's Iran oil imports jumped to a record high in 2016/17 topping half-a-million barrels per day (bpd) as refiners boosted purchases after lifting of some Western sanctions against Tehran last year.
Rosneft Takes First Shipment of Kurdish Oil
Russian state oil giant Rosneft will buy its first shipment of oil from Iraq's Kurdistan in early April, becoming the first oil major to take Kurdish crude directly into its refining system…
Hapag Lloyd-UASC Merger Hits Snags
A merger of Hapag-Lloyd and United Arab Shipping Company (UASC) has hit a snag, with the German shipping line and some banks seeking assurances that UASC's top shareholder Qatar remain committed to the deal for the long term, sources say. Hapag Lloyd Chief Executive Rolf Habben Jansen told a news conference this week he had underestimated the complexity of the 7 billion to 8 billion euro ($7.6-$8.7 bln) deal, which will create one of the world's largest shipping lines.
George H.W. Bush CSG Conducts OIR Missions Against ISIS
The George H.W. Bush Carrier Strike Group (CSG) is currently launching missions against the Islamic State of Iraq and Syria (ISIS) in support of Operation Inherent Resolve (OIR) from the Arabian Gulf.
Asia Tankers-VLCC Weighed by Excess Tonnage
MidEast, West Africa rates diverge; oil output curbs in Iraq and West Africa could weigh on tanker market. Freight rates for very large crude carriers (VLCCs) are…
Australian Navy Communications Sailors Excel on Operations
Being used to the challenges of ship-borne communications has been an asset to delivering flexible and capable communications networks ashore as Australian Navy sailors are finding in the Middle East.