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Ahmad News

05 Feb 2024

Up to 35 Aframax Tankers Could Switch to Carrying Cleaner Fuel -Kpler

© Vladimir / Adobe Stock

As many as 35 oil tankers that usually carry crude or fuel oil could switch to carrying cleaner products like diesel and jet fuel in the next two months as shipowners chase higher profitability, oil analytics firm Kpler said in a LinkedIn post.An LR2 (long-range 2) type tanker typically carries cargoes of about 90,000 metric tons of cleaner fuels.

01 Feb 2024

Russian Oil Flows Through Red Sea Face Lower Risks

© Carabay / Adobe Stock

Tankers carrying Russian oil have continued sailing through the Red Sea largely uninterrupted by Houthi attacks on shipping and face lower risks than competitors, according to shipping executives, analysts and flows data.Russia has become more dependent on trade through the Suez Canal and the Red Sea since it invaded Ukraine, which led to Europe imposing sanctions on Russian imports and forced Moscow to export most of its crude to China and India. Before the war, Russia exported…

25 Jan 2024

UK and US Sanction Senior Houthis Over Ship Attacks

Bulk carrier Genco Picardi was hit by a Houthi drone attack on January 17. (Photo: Indian Navy)

Britain and the United States on Thursday said they had imposed coordinated sanctions on four key Houthi figures for their roles in supporting or directing attacks on commercial shipping in the Red Sea.Attacks by the Iranian-backed Houthis have disrupted global shipping and stoked fears of global inflation. They have also deepened concern that fallout from the Israel-Hamas war could destabilize the Middle East.Those sanctioned were Houthi Defence Minister Mohamed Nasser al-Atifi…

15 Jan 2024

Houthis Say They Will Target US Ships

© Andrea Izzotti / Adobe Stock

Yemen's Houthi movement will expand its targets in the Red Sea region to include U.S. ships, an official from the Iran-allied group said on Monday, as it vowed to keep up attacks after U.S. and British strikes on its sites in Yemen.Attacks by the Houthis on ships in area since November have impacted companies and alarmed major powers in an escalation of Israel's more than three-month war with Hamas militants in Gaza. The group says it is acting in solidarity with Palestinians.British…

18 Dec 2023

Bab al-Mandab Shipping Lane Becomes Target as Israel Fights Hamas

© AUUSanAKUL+ / Adobe Stock

Yemen's Houthis have been targeting vessels in the southern Red Sea and the Bab al-Mandab Strait in attacks that the Iran-aligned group says aim to support the Palestinians as Israel and Hamas wage war.Several freight firms including MSC, the world's largest container shipping line, said they would avoid the Suez Canal as a result, which could mean having to circumnavigate Africa instead.War risk insurance premiums have risen as a result.WHAT ARE THE RECENT HOUTHI ATTACKS?* Dec.

04 Dec 2023

Pakistan Becomes Party to Hong Kong Convention

Source: IMO

Pakistan has become a Party to the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (Hong Kong Convention).Vice Admiral (Retd.) Iftikhar Ahmad Rao, Maritime Minister and Special Assistant to the Prime Minister (SAPM) on Maritime Affairs, Pakistan, deposited the instrument of accession with IMO Secretary-General Kitack Lim at IMO Headquarters in London on November 30.The deposit follows an IMO-run national seminar in Karachi to…

20 Nov 2023

Pakistan Takes Next Step Towards Hong Kong Convention Ratification

Source: IMO

Pakistan is a step closer to becoming a party to the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (Hong Kong Convention).Following an IMO-run national seminar in Karachi, Pakistan, (November 13-15) to support the country’s implementation of the Convention and related guidelines, the Pakistan (Federal) Cabinet completed the processes needed to prepare the instrument of accession to the convention.The seminar was hosted by Pakistan's Ministry of Maritime Affairs.

07 Nov 2023

US-flagged Laker Grounds in the St. Clair River

(Photo: U.S. Coast Guard)

A U.S. registered laker ran aground in the St. Clair River near Marine City, Mich. on Tuesday, the U.S. Coast Guard said.The Coast Guard said it was notified at 7:21 a.m. that the 617-foot-long vessel American Courage grounded with a cargo of 20,000 tons of stone on board. No injuries or pollution have been reported.The river remains open to navigation, though a marine safety broadcast has been issued urging mariners to use caution while transiting the area.The Coast Guard said it is coordinating with the vessel's owner—Traverse City…

20 Oct 2023

Strait of Hormuz: The World's Most Important Oil Artery

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The Israel-Hamas war has raised the spectre of a wider regional conflict which could embroil Iran and other regional factions.Analysts and market observers say the conflict could prompt the United States to tighten sanctions on Iran, which may spur Tehran to take retaliatory action against ships in the Strait in Hormuz.The Marshall Islands registry, one of the world's top shipping flags, last week flagged that vessels with links to Israel or the United States may face a heightened threat of attack within Israeli territorial waters…

13 Sep 2023

Libyan Oil Ports Reopen after Storm Forced Closure

Credit: Wilding/AdobeStock

Four major oil ports in Libya have reopened after shutting down on Saturday because of the powerful storm that swept the country, killing thousands of people, port agent Al Omran International Maritime Agencies said on Wednesday. The eastern ports of Brega, Es Sidra and Ras Lanuf opened on Tuesday and the port of Zueitina opened on Wednesday morning, Al Omran said. Oil prices rose on Wednesday, with Brent firming around a 10-month peak reached during trading a day earlier, as…

20 Mar 2023

French Strikes Continue to Block Refinery Shipments and LNG Terminals

© Wojciech Wrzesień / Adobe Stock

Shipments of refined products from French refinery and depots were blocked on Monday by a 13th day of strike action, though some refineries operated with a reduced flow, a company spokesperson said.The industrial action is part of a nationwide movement against pension system changes that lift the retirement age two years to 64. The changes were forced through parliament without a vote last week.There is an increasing expectation of diesel supply shortages in France and Europe as a result of the strike-caused outages…

08 Feb 2023

BP Azerbaijan Declares Force Majeure on Crude Loadings from Turkey's Ceyhan Port

©BP (File photo)

BP Azerbaijan has declared force majeure on loadings of Azeri crude from the Turkish port of Ceyhan, after a series of earthquakes on Monday, the company said on Wednesday.The notice was issued to oil shippers following a temporary suspension of loading operations from the Ceyhan Marine Terminal (CMT), BP Azerbaijan spokeswoman Tamam Bayatly told Reuters by email.BP Azerbaijan operates the Azerbaijan and Georgia sections of the Baku-Tblisi-Ceyhan (BTC) pipeline.BP did not immediately respond to a request for comment.Azerbaijan uses the Turkish port of Ceyhan as its main crude export hub…

30 Jun 2022

Shipbroker Gibson Says a Number of Employees Have Resigned

© STOCKSTUDIO / Adobe Stock

Shipbroker Gibson said that it had received a number of resignations from its Suezmax and Aframax broking desks on June 29, according to an email from its managing director Roger Harrison on Thursday.Suezmax and Aframax tankers are usually used in the transport of crude and some oil products."Whilst we are always disappointed to see people leave our company ...

09 Jun 2022

Iran Expects Confiscated Oil Cargo to be Returned in Full

Iran expects an oil cargo confiscated by the United States off the coast of Greece to be returned in full, Tehran's ambassador to Athens said on Thursday, following a Greek court ruling quashing the original decision to confiscate it.The case arose when Greece in April impounded the Iranian-flagged Lana, formerly Pegas, with 19 Russian crew members on board, near the island of Evia due to European Union sanctions.The ship was released due to complications over its ownership. The United States in May confiscated part of the Iranian oil cargo onboard…

19 May 2022

Greece Emerging as Hub for Russian Ship-to-ship Fuel Oil Exports

© yriy47 / Adobe Stock

Russian fuel oil arrivals offshore Greece jumped to record levels in April, as sanctions on Moscow drive traders to find new ways to export Russian oil via ship-to-ship (STS) loadings, Refinitiv Eikon data showed and sources said.Trading Russian crude and oil products remains legal for now as the European Union is yet to fully agree on a proposed embargo, but banking and other financial sanctions on Russia following its invasion of Ukraine on Feb. 24 has made it increasingly more difficult to do so.In April…

19 Apr 2022

Libya's NOC Declares Force Majeure at Brega Oil Port

© Puchthanun / Adobe Stock

Libya's National Oil Corporation (NOC) declared force majeure at the Brega oil port on Tuesday, saying it was unable to fulfil its commitments towards the oil market."At a time when oil prices are witnessing a significant recovery due to the increase in global demand... Libyan crude is subjected to a wave of illegal closures," the state-owned company said in a statement.(Reuters - Reporting by Ahmed ElumamiWriting by Ahmad ElhamyEditing by Louise Heavens)

13 Apr 2022

Eni Inks Deal for Egyptian LNG Exports to Europe

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Italy's Eni has signed a framework agreement with the Egyptian Natural Gas Holding Company (EGAS) to provide shipments of Egyptian liquefied natural gas (LNG) for Italy and Europe, the Egyptian government said on Wednesday."The agreement also aims to exploit the great potential in the field of research and exploration in Egypt, especially in the Nile Delta, the Eastern Mediterranean, and the Western Desert," a cabinet statement added.(Reuters - Reporting by Momen Said Atallah; Writing by Ahmad Elhamy; Editing by Jan Harvey)

29 Mar 2022

Argus Launches a Non-Russian Diesel Cargo Assessment

Copyright Tomas Ragina/AdobeStock

Price reporting agency Argus launched a new non-Russian diesel cargo assessment delivered into the Antwerp-Rotterdam-Amsterdam (ARA) port complex, the agency said."The new price will represent fair market value of non-Russian diesel, providing buyers and sellers which do not wish to trade Russian diesel with an alternative benchmark value," Argus said.Russia has been a key supplier to Europe, accounting for up to 60% of diesel imported into the region each year, according to Argus.The…

28 Feb 2022

Suez Canal to Increase Tolls By Up to 10%

© Val Traveller / Adobe Stock

Egypt’s Suez Canal Authority said on Sunday it was increasing canal tolls by up to 10% for laden and ballast vessels, effective March 1.The decision was “in line with the significant growth in global trade, the improvement of ships’ economics, the Suez Canal waterway development and the enhancement of the transit service”, according to a series of circulars by the canal authority.(Reuters - Reporting by Ahmad Elhamy and Moaz Abd-Alaziz; Editing by Alison Williams)

24 Feb 2022

Major Buyers of Russian Oil Struggle with Bank Guarantees

The global oil market was thrown into chaos on Thursday after Russia invaded Ukraine, with top buyers of Russian oil struggling to secure guarantees at Western banks or find ships to take crude from one of the world's largest producers.At least three major buyers of Russian oil have been unable to open letters of credit from Western banks to cover purchases on Thursday, four trading sources said, citing market uncertainty after the Russian invasion.Russia produces every 10th barrel in the world and oil prices jumped to above $105 per barrel on Thursday, their highest since 2014, due to fears of disruptions.In the Black Sea, a Turkish-owned ship was hit by a bomb off the coast of Ukraine's port city Odessa…

05 Nov 2021

Suez Canal Authority To Raise Transit Fees

Credit: Carabay/AdobeStock

Egypt plans to raise fees by 6% on ships transiting the Suez Canal in 2022, the canal authority's chairman Osama Rabie said on Thursday.Tankers transporting liquefied natural gas and tourist cruise ships will be excluded from the fee hike, Rabie added. (Reporting by Momen Saeed Atallah; Writing by Shakeel Ahmad; Editing by Jan Harvey)

22 Oct 2021

Lebanon-Israel Maritime Border Talks Need to Be Quick, U.S. Mediator Says

For Illustration: Leviathan field offshore Israel (File Photo: Noble Energy)

The U.S. mediator for indirect talks on border demarcation between Lebanon and Israel said on Thursday that the negotiations he was hoping to revive should be concluded in a short period if they were to succeed.Amos Hochstein, speaking to Al Hadath TV during a visit to Beirut, said holding the indirect talks last year between the two sides in the presence of the United States and the United Nations was an important milestone but that it remained to be seen whether the right time to resume the talks was now."Perhaps there should be some shuttle diplomacy first…

22 Nov 2021

Iran's Guards Seize Foreign Ship in Gulf

© Andrea Izzotti / Adobe Stock

Iran's Revolutionary Guards said on Saturday they had seized a foreign ship in Gulf waters loaded with what they described as smuggled diesel.Guards commander Ahmad Hajian said the ship's 11 crew had been detained, but did not give details on their nationality or identify the ship."After inspection, more than 150,000 liters of smuggled diesel were discovered," Iran's state broadcaster quoted Hajian as saying.The semi-official Fars news agency, which is close to the Revolutionary Guards…