Oil Transport News

Major geopolitical events have led to massive changes in the patterns of global oil transport at sea. This underlines the importance of effective Danish marine environmental preparedness when almost five million barrels of oil pass through Danish waters every day, according to Danish Shipping Companies.In the first half of 2025, as much oil was shipped through the Great Belt and the Sound as through the Suez Canal. Here, 4.9 million barrels of oil were shipped through both places per day. For the Great Belt and the Sound, this is an increase of 58 percent from 2021 to 2025.

Russia's oil pipeline monopoly Transneft has cut crude intake into its system by some 250,000 barrels per day after a Ukrainian drone attack on its Kaleykino pumping station on Monday, two sources familiar with the situation said on Tuesday.The cuts mostly affected shipments from Tatarstan producer Tatneft, one of the sources said.Ukrainian drones hit the major Kaleykino station, which serves the Druzhba pipeline carrying Moscow's crude to Eastern Europe and to Russia's main western ports…

The Trump administration on Thursday issued more Iran-related sanctions, targeting 13 entities based in Hong Kong, China, the United Arab Emirates and the Marshall Islands, as well as eight vessels, the U.S. Treasury Department said.The measures cover Greek national Antonios Margaritis and his network of companies and vessels that Treasury said was involved in transporting Iranian oil exports in violation of sanctions.Treasury also designated Ares Shipping Limited in Hong Kong…

Belgian oil tanker company CMB Tech says it will focus on the fast growing market in India as it reported third quarter results above market expectations on Thursday, boosted by vessel disposals as it diversifies its fleet.After last year's Euronav-Compagnie Maritime Belge takeover, the group shifted strategy by selling 24 tankers to Frontline and acquiring CMB.Tech's fleet. It now operates a diversified fleet of around 160 vessels, including dry bulk, container, and chemical tankers, rather than focusing solely on oil transport with Very Large Crude Carriers (VLCC) and Suezmax tankers.CMB Tech shares fell 1.3% at 0817 GMT, extending a 7.1% decline over the past year.

Belgian oil tanker company CMB.Tech says it will focus on the fast growing market in India as it reported third quarter results above market expectations on Thursday, boosted by vessel disposals as it diversifies its fleet.After last year's Euronav-Compagnie Maritime Belge takeover, the group shifted strategy by selling 24 tankers to Frontline and acquiring CMB.Tech's fleet.

Singapore authorities detained one of the oil tankers from Gatik Ship Management's fleet, a major carrier of Russian oil to India, for three days last month over safety issues, according to port state control data from Tokyo MoU.The Gabon-flagged tanker Lefkada was detained on May 11 after several deficiencies were found, the report from the leading port body showed.They included maintenance of the ship and equipment, fire protection system and life-saving gear.The ship was released on May 13 after the safety issues were rectified, a source familiar with the matter said.The source added the inspection was part of random checks on ships.

An Indian agency has stepped in to provide safety certification for most of Gatik Ship Management's fleet, a major carrier of Russian oil to India, after Lloyd's Register and the American Bureau of Shipping (ABS) withdrew classification for many of its vessels, records show.Mumbai-based Gatik, which has emerged this year as a significant player in Russian oil transport, also recently reflagged at least four of its vessels to Mongolia, according to data from maritime platform Lloyd's List Intelligence.This followed the de-flagging of 36 of the Gatik-managed fleet by St.

Frontline signaled optimism over its planned merger with rival Euronav on Tuesday, supported by recovering oil tanker markets in the first quarter and expectations of tight vessel supply in the coming years.The crude shipping market has struggled with low earnings since the pandemic first hit oil transport demand two years ago.This year's sanctions against Russia following the invasion of Ukraine has disrupted trade flows, however, and both crude and oil products take longer voyages to reach European markets…

The European Commission has proposed to ban in a month's time all shipping, brokerage, insurance and financing services offered by EU companies for the transport of Russian oil worldwide, an EU source told Reuters on Wednesday.The measure is part of a proposed embargo on Russian oil that is meant to cripple Russia's oil industry. Read full storyProvided the proposal gets the approval of EU governments, all insurance, finance, and shipping services for Russian oil transport would be banned in a month's time…

The number of oil tankers passing through the Suez Canal in October has declined sharply, down 27% for the month year-on-year amid persisting subdued demand for oil transport since the April crash in oil prices that fueled high demand for oil tankers, according to shipping association BIMCO.A total of 3,708 oil tankers passed through this key chokepoint for global shipping between January 1 and October 31, representing 76 less oil tanker transits (or a 2% decline) compared to the same period last year, BIMCO says.

Around midnight on February 23, Eulalio Bravo, a marine electrician, was dozing in his rack aboard the San Ramon, an oil tanker anchored off the coast of Venezuela.Suddenly, he heard footsteps pounding along the passageway outside. His captain, Jaime Herrera, cried for help."Be still!" an unfamiliar voice ordered.A gun fired.By the time Bravo and eight other shipmates emerged to see what had happened, the captain lay dead, a gunshot in the back of his head. Herrera's stateroom had been pillaged, drawers flung open, his bunk overturned. The killers were gone, as were thousands of dollars the captain kept under lock and key, according to crew members interviewed by Reuters.The murder…

Crude oil tanker company Euronav said that it has disposed one of its oldest Suezmax vessels, the 2003-built Finesse.The international shipping enterprise which focuses on oil transport by sea informed that it sold the 2003-built, 149,994 dwt for USD 21.8 million.A capital gain on the sale of approximately USD 8.3 million will be recorded during the current quarter. The vessel has been delivered to her new owners."Euronav considers regular fleet rejuvenation an important function of vessel management in providing quality services to our clients," said a statement.With the transaction Euronav sold one of its oldest Suezmax vessels, bringing the total balance of its Suezmax fleet to 26 vessels (including JVs).

Spain's SENER will be present at the 15th edition of the Asia Pacific Maritime (APM) Exhibition, which will be held from March 14 to 16, 2018 at Marina Bay Sands in Singapore. SENER will participate in this event as part of the Spain Pavilion, organized by the public business entity, ICEX Spain Exportación e Inversiones, whose mission is to promote the internationalization of Spanish companies. At the exhibition, SENER will showcase its latest ship projects, including the project involving the supply of LNG to ships (Ship to Ship) and to land (Ship to Shore)…

When marine safety collides with environmental advocacy and non-maritime business interests, the discussion can be contentious, confusing and cumbersome. In June 2016, the U.S. Coast Guard (USCG) opened a public comment period regarding new anchorage zones in the Hudson River; usually a rather low-key set of issues. This proved different. Opponents jumped on the proposal – initially suggested by three maritime organizations – as a backdoor way to facilitate a huge expansion in crude oil shipments on the Hudson.

The 50 years since the grounding of the tanker Torrey Canyon in 1967 have seen dramatic and sustained reduction in major oil spills from ships, thanks to cooperation between Governments and industry. The story of how that incident served as a catalyst for positive change is told in a new exhibition which was launched on Monday (16 January) at the headquarters of the International Maritime Organization (IMO), the United Nations agency with responsibility for the safety and security of international shipping and the prevention of pollution from ships. A series of panels chart the collaborative work which has resulted today in a comprehensive regulatory framework…

In a sign the massive Alberta wildfire is taking a toll on oil transport, Canadian crude exports to the United States dropped 12 percent last week, while another blend of Canadian sweet crude oil rallied as concerns grow about supply. Overall, trading in Canadian crude was quiet, as the second half of the month is generally inactive. Hot and dry weather and strong winds were expected to push the wildfire burning near Fort McMurray, Alberta eastward on Wednesday, continuing to threaten facilities and work camps in Canada's prized oil sands. With the fire projected to grow further, producers are starting to scramble for needed oil supply.

China Shipping Development Company Limited (CSDC) achieved 34.95% higher profit for 2015 totaling in RMB417 million ($64.3 million) when compared to figures from 2014, mostly due to a very strong tanker market. The revenue was stable at RMB12.21bn in 2015 compared to RMB12.27bn in 2014 for CSDC, the tanker and bulker unit of China Shipping Group. “In 2015, the oil shipping market was better than in 2014 in general. Affected by beneficial afactors such as the higher shipping prices, significant decrease in fuel prices and gradual realisation of results from various innovative measures of the company, oil shipping business obtained a good result,” CSDC stated. The Shanghai-and Hong Kong-listed company added that lower fuel cost was the “highlight” of its cost controlling efforts.

Weathernews Inc., a privately owned weather company, will provide weather routing services, port forecasts and other weather driven risk communication services to Maersk Line and Maersk Tankers, for safety and bunker saving purposes. Operating from five global operations centers, Weathernews Inc. will provide continuous monitoring and communication year-round twenty-four hours a day for Maersk vessels with its Optimum Ship Routing service. Niels Bruus, Head of Fleet Performance…

2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, says a report BIMCO. The six new VLCCs were delivered in a strong winter market. Having reduced slightly, since the turn of the year, VLCC average earnings currently sit at USD 50,000 per day, in early February. For the full year, an additional 58 VLCCs are scheduled for delivery, but delays and postponements usually decrease that number to a certain degree. Taking that into consideration, BIMCO expects 37 VLCCs to be delivered during the final 11 months of 2016. South Korean shipyards will provide the lion’s share of these newbuilds.

When it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, 2016 is off to a flying start. Six new VLCCs were delivered in a strong winter market. Having reduced slightly, since the turn of the year, VLCC average earnings currently sit at $50,000 per day, in early February, reports BIMCO. For the full year, an additional 58 VLCCs are scheduled for delivery, but delays and postponements usually decrease that number to a certain degree.

The Lloyd's of London insurance market said on Tuesday that from a European Union perspective its managing agents can now provide insurance and reinsurance for the transportation of Iranian oil and petroleum products, following the lifting of sanctions. However it added that some restrictions on U.S. trade remain in place. "The U.S. has also lifted sanctions on Iran regarding the oil and shipping sectors, although principally this relief targets non-U.S. persons conducting business with Iran," Sean McGovern, Lloyd's chief risk officer, said in a market bulletin. "With a few exceptions, the general U.S. trade embargo on Iran remains in place and U.S.

‘VWGate’ has raised a flag for managers and technicians in the transport business. ‘Efficiency’ used to be left to the market, but the intrepid twins, consumer health and climate change, have changed all that, says a report from Clarkson Research Services. Shipping boasted of being the most ‘efficient’ transport mode, but the twins took a look at what was coming out of the funnel and the rest is history (as is anyone not paying attention to emission regulations). The shipping industry has been squeezing diesel technology for fifty years and faces similar problems to the VW engine designers. The technical cupboard appears fairly empty, so the opportunities for improving performance look slim. The challenge is to find another way to measure and improve performance.

Vessel operators have an additional tool in their arsenal for preventing oil spills during bunkering operations. “Bunkering Best Practices: Protecting People and the Environment” is a free, 14-minute training video that demonstrates bunkering best practices applicable to the North American West Coast. That said; any marine operator – located anywhere on the globe – can glean valuable ‘take-aways’ from this video. The states of Alaska, California, Hawaii, Oregon and Washington…