Oil Exports News

16 Oct 2019

U.S. Frets About Untrackable China Ships with Iran Oil

Stock / © Carabay

The White House is warning Chinese shipping companies against turning off their ships' transponders to hide Iranian oil shipments in violation of U.S. sanctions, two senior administration officials said."We've been messaging very heavily to the shipping companies, you don't want to do this, it's not worth it," said one official, who spoke to Reuters on condition of anonymity. "It's incredibly dangerous and irresponsible behavior."China is the largest remaining buyer of Iranian oil after U.S. President Donald Trump reimposed sanctions on Tehran's main export. Trump tightened U.S.

15 Oct 2019

US Crude Exports Expected to Double by 2022

Graph: Rystad Energy

The U.S. could see its crude oil exports nearly double by 2022, according to energy research firm Rystad Energy. US crude exports could grow from current levels of 2.9 million barrels per day (bpd) to nearly 6 million bpd by 2022.With US production expected to increase by 1.2 million bpd year-over-year (y/y) in 2020, and with domestic refineries already maxing out capacity to absorb shale growth, Rystad Energy expects exports to balloon and reach 4.7 million bpd by the end of…

11 Oct 2019

CNOOC Seeks Replacements for Sanctioned COSCO LNG Tankers

AdobeStock / © Kasto

China National Offshore Oil and Gas Company (CNOOC) is on the hunt for liquefied natural gas (LNG) tankers to charter, several industry sources told Reuters, looking to replace ships it had previously hired that are linked to a Chinese company sanctioned by the United States for allegedly transporting Iranian oil.The company, COSCO Shipping Tanker (Dalian), is one of four Chinese firms on which the Trump administration imposed sanctions on Sept. 25, in what it described as the biggest sanctions taken by the U.S.

11 Oct 2019

U.S. Sanctions Deal Blow to LSFO for 'IMO 2020'

file image (credit: AdobeStock / © dbvirago

Highly sought after types of oil best suited to making cleaner shipping fuel are suddenly finding they are a tougher sell for thirsty East Asian markets, traders say, in an unintended consequence of U.S. sanctions on a Chinese shipping fleet.With just over two months until environmental rules are set to mandate the biggest changes to ship power in over a century, certain rare types of West African oil have soared in value but have had to be marked down due to the higher costs of transport.The United States imposed sanctions on units of China's COSCO on Sept.

01 Oct 2019

Iran building oil pipeline to terminal outside Gulf

© alexyz3d / Adobe Stock

Iran is building a $1.8 billion oil pipeline to its port of Jask outside the mouth of the Gulf, the country's oil minister said, as part of plans to protect its exports against potential problems in the region and to boost shipments of Caspian oil.Iran has been planning since at least 2012 to set up the terminal on the Gulf of Oman, just outside the Strait of Hormuz.Tehran has threatened to block the vital Gulf oil shipping route during its standoff with the United States, after Washington last year withdrew from Iran's 2015 nuclear deal with world powers and reimposed sanctions…

23 Sep 2019

British Tanker Stena Impero Free to Leave - Iran ambassador

©Erwin Willemse/ MarineTraffic.com

The detained British-flagged tanker Stena Impero is "free to leave," Iran's ambassador to the United Kingdom, Hamid Baeidinejad, said on Twitter on Monday."The British-flagged tanker 'Stena Impero', pursuant to the completion of the judicial and legal process, is now free to leave," he wrote.The seizure on July 19 of the ship, two weeks after Britain detained an Iranian tanker off Gibraltar, ratcheted up tensions in the region in the wake of attacks on other merchant vessels that Washington blamed on Tehran.Iran denied responsibility for those attacks…

30 Aug 2019

McQuilling Mid-Year Tanker Market Outlook

File Image: AdobeStock / © Carabay

McQuilling Services Announces the Release of the 2019 Mid-Year Tanker Market Outlook Update.The Mid-Year Tanker Market Outlook Update provides an outlook on the global tanker market in the context of global economic growth and oil fundamentals influencing tanker demand and vessel supply. The outlook includes a view on future asset values, time charter rates, market freight rates and TCE revenues for 24 major tanker trades and four triangulated routes across eight vessel segments for the second half of 2019 through the remaining four years of the forecast period 2019-2023.

30 Aug 2019

UK highlights Gulf shipping threats

Trouble on the high seas: tensions grow over Gulf shipping security

(Photo: ©Carabay / Adobe Stock)

The UK Foreign Secretary Dominic Raab is to call for more international support to protect shipping in the Strait of Hormuz when he meets his French and German counterparts later today (Friday, August 31) for talks about Iran. Last month, Iran seized a British-flagged oil tanker in the Strait in apparent retaliation for the UK’s seizure in Gibraltar of an Iranian ship accused of violating European sanctions by taking oil to Syria.The UK joined a U.S.-led mission to escort merchant vessels through the Strait of Hormuz at the start of this month but Germany and France declined to take part…

27 Aug 2019

BIMCO: US Crude Exports Soar in June 2019

Chart: BIMCO

The highest US crude oil exports to China in 11 months lifted total seaborne US crude oil exports to a record high at 11.9 million (m) tonnes in June 2019. Also contributing to the June record was South Korea, as exports to the other main Far Eastern buyer reached an all-time high volume of 2.3m tonnes.1.2m tonnes were shipped to China between June 1, and  June 30, , up from 1m tonnes in May and worlds apart from no exports at all in the months of August through October in 2018…

26 Aug 2019

Iran: Oil Sold from Tanker Released by Gibraltar

File Image: the former M/T Grace 1 at sea (CREDIT: MarineTraffic.com)

Iran has sold the oil from a tanker released by Gibraltar after weeks in the custody of British Royal Marines and the vessel's owner will decide on its next destination, IRIB news agency quoted an Iranian government spokesman as saying on Monday.Separately, Tehran - embroiled in a spiralling confrontation with Washington over U.S. sanctions meant to strangle Iranian oil exports - announced that it had deployed a naval destroyer with cruise missiles to help secure Iranian ships.The Iranian government spokesman did not identify the recipient of the oil carried by the Adrian Darya tanker.

21 Aug 2019

Iran: Waterways Won't be Safe if its Oil Exports

A US Navy fleet oiler on station. CREDIT: USN

If Iran's oil exports are cut to zero, international waterways will not have the same security as before, its president said on Wednesday, cautioning Washington against upping pressure on Tehran in an angry confrontation between the longtime foes.The comment by President Hassan Rouhani coincided with a remark by Iranian Foreign Minister Mohammad Javad Zarif that Tehran might act "unpredictably" in response to "unpredictable" U.S. policies under President Donald Trump."World powers know that in the case that oil is completely sanctioned and Iran's oil exports are brought down to zero…

19 Aug 2019

Iran Tanker Released, Sets Sail for Greece

The newly renamed Adrian Darya 1, in a file image under its previous name of Grace 1. CREDIT: MarineTraffic.com

An Iranian tanker sailed through the Mediterranean towards Greece on Monday after it was released from detention off Gibraltar, and Tehran said that any at U.S. move to seize the vessel again would have "heavy consequences".The Grace 1, renamed the Adrian Darya 1, left anchorage off Gibraltar about 11 p.m. (2100 GMT) on Sunday. Refinitiv ship tracking data showed on Monday that the vessel was heading to Kalamata in Greece and was scheduled to arrive next Sunday at 0000 GMT.The…

02 Aug 2019

U.S. Crude Exports Reach a Record of 3.16 mln bpd

File image: A crude vessel alongside and loading at the U.S. port of Corpus Christi, Texas

U.S. crude oil exports surged 260,000 barrels per day (bpd) in June to a monthly record of 3.16 million bpd as South Korea bought record volumes and China resumed purchases, data from the U.S. Census Bureau showed on Friday.South Korea surpassed Canada to become the biggest purchaser of U.S. crude at about 605,000 bpd. China purchased about 292,000 bpd, the most since June last year and was the third-largest buyer of U.S. crude in June, the data showed.China, once the top buyer of U.S.

30 Jul 2019

Rivals Iran and UAE to Hold Maritime Security Talks

© Vladimirs Ozolins / Adobe Stock

Iran was to revive maritime security talks on Tuesday with traditional foe the United Arab Emirates (UAE) in an apparent bid to calm tensions in the Gulf, although a Gulf official described the discussions as routine and technical.The talks follow weeks of heightened political friction around the strategic waterway stemming from hostility between between Tehran and Washington, the main Western ally of Gulf Arab states long wary of the Islamic Republic.The discussions had been off since 2013…

30 Jul 2019

For China, U.S. Soybeans are Small Fry

File Image: AdobeStock / © Igor Strukov

China's purchase of some U.S. soybeans is being viewed as a tentative sign of a little détente in the dispute between the world's two largest economies, but real progress would be a resumption of what had been a burgeoning energy trade.U.S. and Chinese negotiators are meeting for two days of talks in Shanghai starting on Tuesday amid modest expectations for progress to resolve the trade imbroglio that has resulted in tit-for-tat tariffs being imposed on billions of dollars worth…

29 Jul 2019

U.S.: Ships Should Keep AIS On

File Image: AdobeStock / © Taras

The United States wants all ships to keep their tracking transponders on to cut down on illicit activity and smuggling, and to increase transparency with movements of ships around the world, a senior State Department official told Reuters.Automatic identification systems trackers are the most accessible way of observing where ships are located.The practice of turning off AIS by some vessels from countries such as Iran has become common to evade closer scrutiny as the United States pushes to cut off Iranian oil exports.The official…

26 Jul 2019

INSIGHTS: Noose Tightens Around Iranian Shipping

Grace 1 remains impounded, not because of its flag but because it was suspected of taking oil to Syria in breach of EU sanctions, an allegation that Iran denies. Image Credit: © MarineTraffic.com

Somewhere on its journey from the waters off Iran, around Africa's southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and ceased to be registered to Panama. Iran later claimed it as its own.The ship carrying 2 million barrels of Iranian crude was seized by British Royal Marines off Gibraltar, raising tensions in the Gulf where Iran detained a UK-flagged ship in retaliation.Grace 1 remains impounded, not because of its flag but because it was suspected of taking oil to Syria in breach of EU sanctions…

26 Jul 2019

American Shipbuilding Act Re-introduced

Image: US Govt

Congressman John Garamendi and U.S. Senator Roger Wicker reintroduced the Energizing American Shipbuilding Act (H.R.3829), that seeks to revive domestic shipbuilding and maritime industries by requiring that increasing percentages of liquefied natural gas and crude oil exports be transported on U.S.-built, flagged and crewed vessels.The bill would require 15% of LNG exports to be carried on US-built ships by 2041 and 10% of crude oil exports to be carried on US-built ships by 2033.If enacted…

19 Jul 2019

Iran Denies Drone Loss, Gibraltar to Detain Grace 1 longer

The 'Grace 1' will remain in detention until at least August 15th. Image credit: MarineTraffic.com

Iran on Friday denied President Donald Trump's assertion that the U.S. Navy has destroyed one of its drones, saying all of its unmanned planes were accounted for, amid growing international concern that both sides could blunder into a war in the Gulf.In the latest episode to test nerves around the strategic waterway, Trump said on Thursday the drone had flown to within 1,000 yards (914 metres) of the U.S. warship Boxer in a "provocative and hostile action" and had ignored several…

05 Jul 2019

Iran threatens UK in Retaliation for Tanker Seizure

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…

10 Jul 2019

TIMELINE: Rising Tension between Iran, West

The seized VLCC 'Grace 1 (CREDIT: MarineTraffic.com)

Tensions between Iran and the West have escalated since U.S. sanctions on Iranian oil exports took full effect and British naval forces seized an Iranian supertanker.Below is a timeline of recent incidents:May 2 - The United States, which withdrew from an international nuclear accord between Iran and global powers in 2018, ends waivers that had allowed some mainly Asian importers to continue buying Iranian crudeMay 5 - The United States says it is deploying an aircraft carrier strike group and bombers to the Middle East…

11 Jul 2019

Iran Attempts UK Tanker Block, Fails

Civilian Mariner Kevin Sauls, Ship's master aboard the Henry J. Kaiser-class fleet replenishment oiler USNS Guadalupe (T-AO 200), observes the Royal Navy Duke-class frigate HMS Montrose (F 236) during a replenishment-at-sea drill. Guadalupe is conducting operations, providing logistical support to U.S. Navy and allied forces operating in the U.S. 7th Fleet area of responsibility. (U.S. Navy photo by Mass Communication Specialist 2nd Class Tristin Barth)

Britain says it fended off Iranian attempt to block its oil tankerThree Iranian vessels tried to block a British-owned tanker passing through the strait that controls the flow of Middle East oil to the world, but backed off when confronted by a Royal Navy warship, Britain said on Thursday.A week after Britain seized an Iranian tanker accused of violating sanctions on Syria, London said the British Heritage, operated by oil company BP, had been approached in the Strait of Hormuz…

17 Jul 2019

U.S. Unsure About Details of Tanker Towed to Iran

The Tanker riah (File Image: CREDIT MarineTraffic.com / © Marinko)

U.S. officials say they are unsure whether an oil tanker towed into Iranian waters was seized by Iran or rescued after facing mechanical faults as Tehran asserts, creating a mystery at sea at a time of high tension in the Gulf.The MT Riah disappeared from ship tracking maps when its transponder was switched off in the Strait of Hormuz on July 14. Its last position was off the coast of the Iranian island of Qeshm in the strait.Iran says it towed a vessel into its waters from the strait after the ship issued a distress call.

Maritime Reporter Magazine Cover Oct 2019 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News