The European Union is set to soften its sanctions package on Russian oil exports after a weekend of wrangling, though it aims to keep a key shipping provision that will hinder Moscow’s ability to export its crude.
The market is waiting to see if Russian firms such as Surgutneftegas PJSC proceed with monthly sell tenders for ESPO crude this week. The offers are unlikely to attract any bids, oil traders said, Instead, shipments at steep discounts will probably be marketed privately on a one-on-one basis.
Turkish ship repair yard Besiktas Shipyard says it welcomed LNG Unity as the first shipyard in the region providing in-house services for LNG repair activities.
The merger enhances INSW’s capabilities in the crude and product markets, as well as in the large crude – VLCC and suezmax – and LR1/panamax and MR markets.
Belgium-based Euro Marine Logistics N.V., a wholly-owned subsidiary of Japanese MOL, has started sea trials of its operated car carrier, the City Of Oslo, using biofuel.
The agreement includes a one-year time charter for the 2013-built liquefied natural gas (LNG) carrier GasLog Sydney with a subsidiary of TotalEnergies. The charter for the tri-fuel diesel-electric (TFDE) 155,000 cu m vessel will begin this week.
An Iranian-flagged tanker seized by Indonesia in January over the suspected illegal transfer of oil has been released, an Indonesian official and Iranian state media said on Saturday.
Removing 10 VLCCs from the global orderbook is significant. Prior to Hyundai Heavy’s news yesterday, Alphatanker data showed there were just 86 VLCCs on order around the world.
Japanese shipbuilder Kawasaki Heavy Industries (KHI) has selected Corvus Energy to supply the energy storage system (ESS) for the world’s first zero-emission electric tanker.
The Moss type vessel was delivered from Mitsui Ichihara in February 1984, and has sailed nearly 2m nautical miles – the equivalent of going to Mars and back – while completing 733 voyages for the Japanese owner.
Danish owner and operator Norden continues to shift its exposure from tankers to dry bulk, revealing the sale of two tankers and the acquisition of two bulkers.
Spot rates for VLGCs are on the cusp of hitting $100,000 a day, having hit highs in recent days not seen since August 2015.
Of all the dry bulk segments it is the supramax sector that has experienced the most radical changes in age profile over the last two years, according to new analysis by Alphabulk.
Pankaj Khanna, a key lieutenant of George Economou for many years, has bought out the Greek shipping magnate’s tanker pool Heidmar. No price has been revealed for the acquisition of one of the best known brands in the pools business.
The justice minister in Mauritius has given an update on the size of insurance claims across the island in the wake of the grounding of the Wakashio bulk carrier earlier this year.
Multiple broking reports carry news that Hong Kong-based Korean owner Cido Shipping has placed its first newbuild orders since 2015.
Japanese shipping major Mitsui OSK Lines (MOL) has placed an order at South Korean yard Daewoo Shipbuilding & Marine Engineering (DSME) for the construction of three icebreaking LNG carriers.
Greek owner Spring Marine Management has been reported by brokers as the buyer of Blue Wake Shipping’s 2010-built MR2 product tanker Carina.
Offshore drilling company Cox Operating LLC, USA, sued Turkish manager of a Suezmax tanker ATINA for an alleged contact with COX’s oil platform, which took place on Oct 17.