Crude Oil Cargo News

A U.S.-sanctioned Venezuela-owned supertanker that had mechanical problems since January is transferring its 2-million-barrel cargo of heavy crude to other vessels in Asia, according to three people familiar with the matter.The very large crude carrier (VLCC) Maximo Gorki left Venezuela in November amid an export push designed to generate funds for cash-strapped state oil company Petroleos de Venezuela (PDVSA), which has been under U.S. trading sanctions since 2019.Aging infrastructure problems, including a lack of oil storage and vessels, frequent refinery outages and export port congestion, are undermining PDVSA's increased oil production, impeding efforts to boost revenue, according to company documents and sources.

China's refining giant Sinopec Corp said on Wednesday it has jointly certified the country's first carbon-neutral crude oil cargo with shipping giant Cosco Shipping and China Eastern Airlines.The 30,000-tonne cargo was produced by Sinopec in Angola and shipped by Cosco Shipping to an east China-based Sinopec refinery for processing, Sinopec said.To offset the carbon dioxide produced during the process from crude production to shipping to consumption by vehicles and airplanes, the three state firms bought Chinese Certified Emissions Reductions credits.These credits will go to investing in carbo

In the first four months of 2021, the amount of oil product tanker capacity that has been sent for demolition has already reached the total amount of demolished capacity in each of 2019 and 2020 due to unfavourable freight rates. If that pace continues for the rest of the year, an 11-year record is set to be broken.This according to a report out today from BIMCO, which shows that so far this year, 10 crude oil and 38 oil product tankers have left the active trading fleet and the…

Abu Dhabi-based ADNOC Logistics & Services, the shipping and maritime logistics branch of Abu Dhabi National Oil Company (ADNOC), has ordered two additional Very Large Crude Carriers (VLCC), bringing the total number of VLCCs added to its fleet in 2021 to eight.ADNOC L&S said Tuesday that the VLCC fleet expansion played a significant role in supporting ICE Murban Futures, which is expected to boost trading of the UAE’s flagship Murban crude oil, enabling it to reach new customers and markets around the globe.

The owners the New Diamond supertanker which caught fire with a cargo of two million barrels of oil aboard has agreed to pay 340 million rupees ($1.84 million) to Sri Lanka for its help in extinguishing the blaze and averting disaster.The interim claim is for services provided by the Sri Lankan navy, air force, ports authority and Marine Environment Protection Authority (MEPA) after the fire on Sept. 3 until Sept 15, said Nishara Jayaratne, coordination officer of Sri Lanka's Attorney General.Insurers of the vessel West of England will settle the bill…

Chevron Corp crude oil cargo has become embroiled in U.S. sanctions on shipping companies for violating restrictions on doing business with Venezuela, the company confirmed on Friday.Adamant Maritime Ltd, the owner of very large crude-oil carrier (VLCC) Seahero was sanctioned by the U.S. Department of Treasury on Tuesday for carrying a Venezuelan cargo in February. The vessel currently is heading to Asia after recently stopping in Trinidad and Tobago, according to vessel tracking data.The tanker on short term charter and "performing a voyage that is not related to Venezuela," Chevron spokesman Ray Fohr said. "We are working with the appropriate government agencies to ensure compliance with U.S. laws and regulations," he said.The U.S.

An Iranian Revolutionary Guards commander threatened on Friday to seize a British ship in retaliation for the capture of an Iranian supertanker in Gibraltar by Royal Marines."If Britain does not release the Iranian oil tanker, it is the authorities duty to seize a British oil tanker," Mohsen Rezai said on Twitter.The Gibraltar government said the crew on board the supertanker Grace 1 were being interviewed as witnesses, not criminal suspects, in an effort to establish the nature of the cargo and its ultimate destination.British Royal Marines abseiled onto the ship off the coast of the British territory on Thursday and seized it. They…

Saudi Arabia said on Thursday it was suspending oil shipments through a strategic Red Sea lane after Yemen's Iran-aligned rebels attacked two tankers in the waterway, underscoring the risk of an escalation in tensions in the region.Brent crude futures rose 59 cents to $74.52 a barrel by 1008 GMT, extending their rally into a third day but falling from a 10-day high in earlier trading.Saudi Arabia and arch-foe Iran have been locked in a three-year proxy war in Yemen, which lies on one side of the Bab al-Mandeb strait at the southern mouth of the sea, one of the most important trade routes for oil tankers heading from the Middle East to Europe.The Houthis…

Unipec charters 20 VLCCs for West Africa, MidEast cargoes; China's oil demand to climb 3.4 pct this year - CNPC. Freight rates for very large crude carriers (VLCCs) are expected to remain stable next week as buoyant chartering activity from the Middle East is offset by the large number of supertankers available for charter, ship brokers said. "We're going to see rates holding at current levels," a European supertanker broker said on Friday. "Saudi Arabian cargoes for February loading should be out on Monday. Charterers might be a bit nervous, trying to fix as soon as they see the cargoes in case rates climb. But it looks like there's enough ships to keep the market in check," the supertanker broker said.

Oman Oil Company Exploration & Production LLC (OOCEP) shipped its first crude oil cargo from the Musandam gas plant (MGP) with the support of UAE-based Marsol International. OOCEP, a subsidiary of Oman Oil Company S.A.O.C exported 300,000 barrels of crude oil as part of the operation, which were fully processed at the MGP on May 4 in Oman. Marsol, a global marine solutions provider focused on the offshore oil terminal market and related infrastructure, said its involvement included the provision and management of all marine and offshore activities related to the tanker loading…

ClassNK has issued approval for Nippon Steel & Sumitomo Metal Corporation’s newly developed corrosion resistant steel (NSGP-2) for use on the upper deck and/or inner bottom of crude oil tanker cargo oil tanks (COT). Following earlier approvals of steels for the inner bottom plating of COTs, this marks the first time that approval has been granted for corrosion resistant steels for both the top and bottom parts of the COT, providing owners and shipyards with a practical alternative to coating systems. In order to reduce COT corrosion and improve crude oil tanker safety, new amendments to the SOLAS Convention were issued in May 2010 requiring oil tankers over 5…

Angola's Sonangol is hoping to start supplying crude oil to Indonesia's state oil firm early next year in a possible joint venture, company officials said on Monday. Indonesia has struggled to attract sufficient investment to halt declining domestic output, which has dropped to about half of its 1995 peak of 1.6 million barrels per day. The former OPEC member has relied increasingly on foreign imports and purchases of overseas oil and gas assets. Sonangol and Pertamina executives are meeting this week to discuss closer cooperation, which could start with the shipment of one crude oil cargo to Indonesia a month. "We are considering a joint venture company with Sonangol related to three groups of businesses -- upstream…

There has been a significant increase in shipyard construction in Brazil in yards large and small alike. Maritime Reporter’s Contributing Editor in Brazil visited Brasa Shipyard in Rio de Janeiro and spoke to Philippe Levy, Country Manager for SBM Offshore, who is one of the yard directors. Brasa Shipyard is building FPSO deck modules for integration onto FPSO hulls. “Brasa shipyard was created by Synergy and SBM in order to simplify FPSO module integration for FPSOs leased to Petrobras for pre-salt oil production,” said Philippe Levy, Country Manager for SBM. Since Brasa shipyard is located in the city of Niterói, across Guanabara Bay from the city of Rio de Janeiro, SNV managed to resolve three major bottlenecks at the same location.

INTERTANKO is delighted that the Irene SL has been released by the Somali pirates who hijacked this tanker and her 2m barrel oil cargo in February, and that Master, officers and crew are in good health after 58 days in captivity – especially after 12 days being used as a pirate mothership. At the time INTERTANKO’s Managing Director Joe Angelo remarked that the Irene SL hijacking marked a significant shift in Somali piracy, taking the crisis into the middle of the main sea lanes coming from the Middle East Gulf. Her crude oil cargo represented 20% of total U.S.

The Beacon Council announced that Tanker Pacific Management from Singapore has established its North and Latin American headquarters in Miami. Tanker Pacific is the largest privately owned tanker operator in Singapore. Founded in 1990, Tanker Pacific specializes in maritime transportation of petroleum, as well as management of offshore storage terminals. The focus of the Miami office is mainly on expanding the company's commercial reach and providing better service to its customers in the Americas. The company also plans to have a dedicated team of professionals explore new business opportunities and investments in the region. The focus of Tanker Pacific's operations has historically been large tankers…