Iran Confirms Seizure of Oil Tanker Involved in US-Iran Dispute
Iran seized a tanker with Iraqi crude destined for Turkey on Thursday in retaliation for the confiscation last year of the same vessel and its oil by the U.S., Iranian state media reported, a move likely to stoke regional tensions.The seizure of the Marshall Islands-flagged St Nikolas coincides with weeks of attacks by Yemen's Iran-backed Houthi militias targeting Red Sea shipping routes."After the theft of Iranian oil by the United States last year, St Nikolas tanker was seized by Iran's Navy this morning with a judicial order ...
Oil Tanker Involved in US-Iran Dispute Boarded by Armed Guards Near Oman
An oil tanker caught up in a dispute last year between the United States and Iran was boarded by armed individuals off the coast of Oman on Thursday and appeared to have changed course towards Iran, according to UK maritime sources.The Marshall Islands-flagged tanker St Nikolas was boarded by armed intruders as it sailed close to the Omani city of Sohar, according to British maritime security firm Ambrey, and its AIS tracking system was turned off as it headed in the direction…
W. Africa Crude-Buyers Wary as Freight Rates Weigh
Sellers returned to the window on Monday to entice buyers spooked by high freight rates due to Washington's sanctions on subsidiaries of a major Chinese shipping firm at the end of September.Long-haul rates to Asia have risen sharply prompting refiners to shed some cargoes.China's Unipec offered four cargoes in the window for a third session all November loading on a fob basis. These were Angolan Saturno at dated Brent plus 35 cents, Dalia at dated Brent plus $1.90, Mostarda at…
New Rules on Ship Emissions Herald Sea Change for Oil Market
New rules coming into force from 2020 to curb pollution produced by the world's ships are worrying everyone from OPEC oil producers to bunker fuel sellers and shipping companies.The regulations will slash emissions of sulfur, which is blamed for causing respiratory diseases and is a component of acid rain that damages vegetation and wildlife.But the energy and shipping industries are ill-prepared, say analysts, with refiners likely to struggle to meet higher demand for cleaner…
NITC Signs 200 Tanker Charter Deals
The National Iranian Tanker Company (NITC) has signed over 200 leasing contracts for its vessels since the lifting of the Western-imposed economic sanctions two years ago, Financial Tribune reported on Thursday. The report quoted Iran Tanker Company's Chief Executive Officer Sirous Kianersi saying that from the easing of the sanctions (in January 2016) until the end of last month, foreign companies signed 215 time-charter and single-voyage deals for NITC tankers. NITC signed agreements with France's Total, Royal Dutch Shell, Spain's Cepsa, Vitol, Hanwha Total of South Korea, India's Essar, Turkish refiner Tupras, China's CNPC, among others.
Iran Raises Oil Exports to West, Almost on Par with Asia
Iran's oil exports to the West surged in May to their highest level since the lifting of sanctions in early 2016 and almost caught up with volumes exported to Asia, a source familiar with Iranian oil exports said. Iran, which used to be OPEC's second biggest oil exporter, has been raising output since 2016 to recoup market share lost to regional rivals including Saudi Arabia and Iraq. While many Asian nations continued to purchase oil from Iran during sanctions, Western nations halted imports, halving Iran's overall exports to as little as one million barrels per day (bpd).
Urals Prices Weaken in Med, Baltic
Russian Urals crude price differentials weakened in the Mediterranean and the Baltic due to ample supplies, traders said on Thursday. In the Platts window, Litasco sold to Shell a 80,000 tonne cargo in the Mediterranean loading on Jan. 18-22 at a discount of $1.45 a barrel to dated Brent, some 30-35 cents a barrel weaker than previous levels, traders said. Vitol unsuccessfully offered its Jan. 19-23 cargo at a discount of $1.45 a barrel, market participants said. Ample supplies of Urals in January were putting levels under pressure and some traders said they expected some cargoes to remain unsold after the New Year holidays. In the Platts window, Vitol offered in the Baltic a 100,000 tonne cargo for loading on Jan.
Heavy Lift Consignment: SAL Pull Out All the Stops
SAL Heavy Lift's MV “Regine” needed a combined shipboard crane operation to deliver 8 massive reactors from Japan & Korea to Turkey. The Type 176 heavy-lift ship had all necessary facilities for a complex contract like the Tupras Project: a combined crane capacity of up to 1,400 mtons, huge deck capacity and a wide range of lifting equipment. Destined for the Tupras Refinery, MV “Regine transported eight reactors from Japan and Korea to Turkey. Four units were loaded in Muroran/Japan, the heaviest being a cracking reactor of 917 mtons.
