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S.Korea Plans to Boost Iran Oil Imports
South Korea plans to boost imports of Iranian oil, especially condensate, this year to meet growing demand after sanctions on the Islamic nation were lifted in January.
Volumes at Gothenburg Port Spiral
Freight volumes at the Port of Gothenburg for 2015 increased by more than one million tonnes – up from 37.1 million in 2014 to 38.2 million last year. The number…
Iran to Resume Shipping Oil to Japan
The media in Tehran said on Saturday that Japan plans to extend a contract to purchase crude oil from Iran. Shana news agency – affiliated to Iran’s Ministry of…
Greece to Restart Crude Oil Purchases from Iran
Greece's biggest oil refiner Hellenic Petroleum agreed on Friday to buy crude oil from the National Iranian Oil Company (NIOC), the first European refiner to restart…
U.S. Light Crude Imports Surge Again
U.S. imports of light crude from across the Atlantic are set to jump this month to their highest in more than two years, according to market sources and trade data…
US Light Oil Imports Resurge to Highest in Years
U.S. imports of light crude from across the Atlantic are set to jump this month to their highest in more than two years, according to market sources and trade data…
S.Korea's December Crude Imports up 21.1 % y/y
South Korea's crude oil imports in December rose 21.1 percent from a year earlier to 97.9 million barrels, preliminary data from the Ministry of Trade, Industry and Energy showed on Friday.
China Crude Cargoes Stranded on VLCCs
About 4 million barrels of crude oil bought by a Chinese state trader for the country's strategic reserves have been stranded in two tankers off an eastern port…
Senator Urges Obama Admin to Detail Oil Swaps with Mexico
One of the U.S. Senate's top advocates for lifting the ban on domestic crude exports urged the Commerce Department on Thursday to disclose whether any oil swaps with Mexico have actually been finalized after the agency approved the transactions in August. Administration officials told Reuters in August that the Commerce Department was "acting favorably on a number of applications" to export U.S. crude in exchange for imported oil from Mexico…
Slower China Growth Hurts Global Shipping Sector: Fitch
China's slower growth and economic transition will pose significant risks for the already struggling shipping sector, rating agency Fitch said. The shipping sector is already faces overcapacity…
China Shipping Firms, Dynagas Mull Arctic LNG Vessel Deal
China Merchants Energy Shipping, Sinotrans Shipping and Greek shipping firm Dynagas are in talks to form a joint venture to build five vessels to ship liquefied natural gas (LNG) from the Arctic…
China’s Crisis Not Impacting Tanker Market
In its latest weekly report, London-based shipbroker Gibson noted on China that “certainly, Chinese manufacturers have lost their appetite for commodities which…
TEN Charters Tanker at 20% Premium
Greece-based crude, product and LNG tanker operator Tsakos Energy Navigation Limited (TEN) announced today a charter renewal of a handysize product carrier to a…
Aussie-Indian Submarine Drill, China Cautious
As part of growing strategic relationship to counter China's increased activity in the Indian Ocean, India and Australia will focus on anti-submarine warfare in…
Chinese Trading Rivalry Ruffles Asian Oil Markets
An intensifying rivalry between China's two top oil traders Chinaoil and Unipec is whipsawing Asia's oil market, pitting the state-owned firms against each other…
Alberta Panel to Review Climate-change Policy
The Canadian province of Alberta, the biggest source of U.S. oil imports, announced the members of its climate change policy review panel on Friday, part of its…
Brent Edges Up off Six-Month Low
Chinese exports tumble 8.3 pct, biggest fall in 4 months; Chinese crude oil imports up 4.1 pct in July. OPEC has no plans to hold emergency meeting. Crude oil futures…
Mumbai Port Registers 15% Growth
Continuing its record breaking performance of handling all time high cargo volume of 61.61 metric million tonnes in the preceding financial year, Mumbai Port Trust…
Tanker Shipping's Fortunes Rest on US Shale Oil Production
How much US shale oil production is taken out of service will be a key driver of future tanker shipping earnings, according to the latest edition of the Tanker Forecaster…
Face Off: China and US in South China Sea
China has voiced “serious concern” over US plans for military air and sea patrols in the South China Sea. There has been reports that US official reportedly said…