Category: Tankers
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US seizes renamed Venezuela-linked VLCC after weeks-long chase
US seizes renamed Venezuela-linked VLCC after weeks-long chase The US forces have seized two Venezuela-linked tankers, one after a two-week chase, a name change, and reports of a Russian submarine nearby. One of the tankers seized by US authorities is the 2002-built VLCC Marinera, formerly known as the Bella 1. While still under its previous…
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FEATURE | Caracas, Washington reach deal to export Venezuelan oil to US
FEATURE | Caracas, Washington reach deal to export Venezuelan oil to US Reuters Go to baird maritime
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Venezuela crisis widens gap between mainstream and grey tonnage
Venezuela crisis widens gap between mainstream and grey tonnage The extradition of Venezuelan president Nicolás Maduro to the United States has sent fresh ripples through tanker markets, not because barrels have suddenly disappeared, but because the political shock is reshaping trade routes, risk appetite and the definition of what constitutes tradable tonnage. Brokers and analysts…
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India’s Reliance says it expects no Russian crude deliveries in January
India’s Reliance says it expects no Russian crude deliveries in January Reuters Go to baird maritime
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Scorpio Tankers fixes LR2 tandem on five-year charters
Scorpio Tankers fixes LR2 tandem on five-year charters Monaco-headquartered product carrier major Scorpio Tankers has secured five-year charters for two of its LR2 product carriers at a rate of $29,000 per day. The New York-listed owner said the 2015-built, 110,000 dwt STI Rose and STI Alexis have been fixed to an undisclosed charterer, with the contract starting…
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FACTBOX | Venezuelan oil industry: world’s largest reserves, decaying infrastructure
FACTBOX | Venezuelan oil industry: world’s largest reserves, decaying infrastructure Reuters Go to baird maritime
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FEATURE: | Trump: US oil companies will spend the billions needed to restore Venezuela’s crude output
FEATURE: | Trump: US oil companies will spend the billions needed to restore Venezuela’s crude output Reuters Go to baird maritime
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Five FSL Trust product tankers secure bareboat charter extensions
Five FSL Trust product tankers secure bareboat charter extensions Alan Bosworth Go to baird maritime
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First of four VLCC newbuilds delivered to DHT Holdings
First of four VLCC newbuilds delivered to DHT Holdings Alan Bosworth Go to baird maritime
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Cornered Maduro seeks US oil investment and “serious” talks
Cornered Maduro seeks US oil investment and “serious” talks Reuters Go to baird maritime
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Russia asks US to stop pursuit of sanctioned Venezuela-bound tanker
Russia asks US to stop pursuit of sanctioned Venezuela-bound tanker Reuters Go to baird maritime
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Venezuela’s refining units at risk as US blockade triggers residual fuel glut
Venezuela’s refining units at risk as US blockade triggers residual fuel glut Reuters Go to baird maritime
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FSL extends product tanker cover with James Fisher
FSL extends product tanker cover with James Fisher Singapore-listed First Ship Leasing Trust (FSL) has strengthened earnings visibility after agreeing a package of charter extensions with James Fisher Everard, the tanker arm of the James Fisher Group. FSL said it has extended the charters for the product tankers Speciality, Seniority and Superiority, with new periods…
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DHT trims vintage tonnage with twin VLCC sale
DHT trims vintage tonnage with twin VLCC sale Supertanker specialist DHT Holdings has struck a deal to sell two of its three oldest VLCCs, continuing a steady refresh of its fleet as asset values remain firm. The New York-listed owner is shipping out the 2007-built DHT China and DHT Europe for a combined price of…
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d’Amico signs up MR1 newbuild deal in China
d’Amico signs up MR1 newbuild deal in China Italian product tanker owner d’Amico International Shipping (DIS) has moved to renew its fleet with a fresh newbuilding deal in China, ordering two MR1 units at Guangzhou Shipyard International (GSI). The company said its operating arm, d’Amico Tankers has signed contracts for a pair of 40,000 dwt…
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Winning in lead
Winning in lead China is dominating the secondhand capesize market this year, and Winning is topping the buyer table. Winning Shipping is closing in on double-digit capesize purchases in 2025, emerging as the buyer of its six-vintage newcastlemax deals in as many months. The latest addition is an 18-year-old heavyweight, purchased for an undisclosed fee.…
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Essberger’s newbuild push rolls on with up to six chemical tankers in China
Essberger’s newbuild push rolls on with up to six chemical tankers in China German chemical tanker owner John T. Essberger is pressing ahead with its fleet renewal programme, signing up to six newbuildings at a another Chinese shipyard. The Hamburg-based group has placed firm orders for two 7,900 dwt duplex stainless steel chemical tankers, with…
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Monte Nero expands tanker play with LR2 order in China
Monte Nero expands tanker play with LR2 order in China Greek interests remain active in the newbuilding market, with Monte Nero Maritime securing a pair of LR2 product tanker orders at China’s fast-growing Hengli Shipbuilding. In a regulatory filing over the weekend, Songfa Ceramics, the Shanghai-listed parent of Hengli Shipbuilding, disclosed that the yard has…
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Oil marginally lower as investors weigh US data, geopolitical tensions
Oil marginally lower as investors weigh US data, geopolitical tensions Reuters Go to baird maritime
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US orders military to focus on quarantine of Venezuela oil
US orders military to focus on quarantine of Venezuela oil Reuters Go to baird maritime
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Oil steady as US weighs sale of seized Venezuelan crude
Oil steady as US weighs sale of seized Venezuelan crude Reuters Go to baird maritime
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PDVSA turns to floating storage as onshore tanks hit capacity amid US blockade
PDVSA turns to floating storage as onshore tanks hit capacity amid US blockade Reuters Go to baird maritime
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Trump says it would be smart for Maduro to leave power
Trump says it would be smart for Maduro to leave power Reuters Go to baird maritime
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Barriers to entry, barriers to exit and disintermediation
Barriers to entry, barriers to exit and disintermediation Pierre Aury writes for Splash that in shipping, low barriers to entry are being offset by digital barriers to exit quietly built by IT vendors. The dry bulk and tanker markets are classic examples of commoditized, low-differentiation industries with hardly any barriers to entry. Vessels are more…
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Fredriksen’s SFL cashes in on oldest suezmaxes
Fredriksen’s SFL cashes in on oldest suezmaxes John Fredriksen-backed SFL Corporation has agreed to sell two of its older suezmax tankers, continuing a selective reshuffle of its tanker portfolio. The US- and Oslo-listed owner said it will dispose of the 2015-built SFL Thelon and SFL Ottawa, both 160,000 dwt vessels currently on charter to Koch…
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FEATURE | US pursuing third oil tanker near Venezuela, officials say
FEATURE | US pursuing third oil tanker near Venezuela, officials say Reuters Go to baird maritime
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Second tanker seized as US tightens Venezuela oil net
Second tanker seized as US tightens Venezuela oil net US authorities have intercepted and boarded an oil tanker carrying Venezuelan crude east of Barbados, marking the second seizure of a vessel linked to Venezuela’s oil trade and the first since President Donald Trump ordered a blockade on sanctioned tankers moving to and from the country.…
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Sanctions enforcement intensifies as US seizes third Venezuela-linked tanker
Sanctions enforcement intensifies as US seizes third Venezuela-linked tanker US authorities have seized a third oil tanker linked to Venezuela after a pursuit in the Caribbean Sea. This is also the second tanker seized by US forces in less than 24 hours. The US Coast Guard tried to intercept the 2002-built VLCC Bella 1 late…
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Sanctioned naphtha tanker from Russia enters Venezuelan waters, others dither
Sanctioned naphtha tanker from Russia enters Venezuelan waters, others dither Reuters Go to baird maritime
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Kyiv takes drone war to Mediterranean shipping lanes
Kyiv takes drone war to Mediterranean shipping lanes Ukraine has carried out a long-range drone strike against a tanker linked to Russia’s so-called shadow fleet, marking its first confirmed attack this far from the Black Sea. The target was the Oman-flagged aframax tanker Qendil, which was hit in international waters of the Mediterranean Sea, more…
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The year of the caveat
The year of the caveat Splash’s editor gives readers his take on the world of shipping in the year 2025. At financial newswire Bloomberg, the official style guide has always shied away from using words such as but or if in sentences. “Clauses that start with although, but, despite or however often confuse more than…
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US crude futures jump in Asia trade on Trump’s Venezuela blockade
US crude futures jump in Asia trade on Trump’s Venezuela blockade Reuters Go to baird maritime
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Ukrainian drones hit tanker in Russia’s Rostov port causing deaths, says mayor
Ukrainian drones hit tanker in Russia’s Rostov port causing deaths, says mayor Reuters Go to baird maritime
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Venergy steps into boxships with feeder newbuild deal in China
Venergy steps into boxships with feeder newbuild deal in China Greek tanker newcomer Venergy Maritime has moved to diversify its fleet, placing its first order in the containership segment after an active year in tanker newbuildings. The Piraeus-based owner, led by Vyron Vasileiadis, has signed up for up to four 1,900 teu feeder container vessels…
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Swedish navy flags armed guards aboard Russian shadow tankers
Swedish navy flags armed guards aboard Russian shadow tankers Sweden’s navy has confirmed that Russia is mounting a military-style operation in the Baltic Sea to protect its sanctioned shadow fleet, with uniformed and potentially armed personnel observed aboard some oil tankers used to evade Western sanctions on Russian crude exports. According to Sweden’s naval operations…
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Trump moves to choke Venezuelan oil shipping with ‘total and complete’ tanker blockade
Trump moves to choke Venezuelan oil shipping with ‘total and complete’ tanker blockade In a major escalation of maritime pressure on Caracas, US president Donald Trump has ordered “a total and complete blockade of all sanctioned oil tankers going into, and out of, Venezuela,” intensifying efforts to squeeze president Nicolás Maduro’s lifeline crude exports. The…
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Trump orders blockade of sanctioned oil tankers leaving, entering Venezuela
Trump orders blockade of sanctioned oil tankers leaving, entering Venezuela Reuters Go to baird maritime
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Scorpio Tankers pivots from older LR2s to newbuilds
Scorpio Tankers pivots from older LR2s to newbuilds Scorpio Tankers has moved to refresh its LR2 fleet, agreeing to sell two 2016-built vessels while lining up two scrubber-fitted newbuildings in China. The Monaco-headquartered owner and operator said it has struck a deal to sell the LR2 product tankers STI Goal and STI Gallantry for $52.3m…
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EU and Ukraine tighten the net on Russia’s shadow fleet
EU and Ukraine tighten the net on Russia’s shadow fleet The European Union and Ukraine have escalated their campaign against Russia’s shadow fleet, rolling out fresh sanctions targeting both vessels and the facilitators accused of keeping Moscow’s oil exports moving despite international restrictions. On Monday, the EU sanctioned five businessmen linked to Russian state-owned oil…
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Navios Partners rolls out new leadership structure
Navios Partners rolls out new leadership structure Navios Maritime Partners has announced a series of senior leadership changes as the New York-listed diversified owner reshapes its top management structure under chairwoman and chief executive Angeliki Frangou. At the centre of the move is the creation of an office of the chairwoman, designed to bring senior…
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Black Sea shipping carnage deepens as Turkish vessels hit in Russian retaliation
Black Sea shipping carnage deepens as Turkish vessels hit in Russian retaliation The risks facing commercial shipping in the Black Sea escalated sharply over the weekend after two Turkish-controlled vessels were struck amid a wave of Russian attacks on Ukrainian port infrastructure, following Kyiv’s recent strikes on Russian-linked shipping and energy assets. On Friday, Cenk…
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Nigerian officials refute US claims regarding seized tanker
Nigerian officials refute US claims regarding seized tanker Jens Karsten Go to baird maritime
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Ukraine claims Russian drone attack hit civilian Turkish vessel
Ukraine claims Russian drone attack hit civilian Turkish vessel Reuters Go to baird maritime
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Venezuela’s oil exports fall sharply after US tanker seizure as only Chevron ships sail
Venezuela’s oil exports fall sharply after US tanker seizure as only Chevron ships sail Reuters Go to baird maritime
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Iran seizes foreign tanker carrying 6m litres of “smuggled diesel” in Gulf of Oman
Iran seizes foreign tanker carrying 6m litres of “smuggled diesel” in Gulf of Oman Reuters Go to baird maritime
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Splash Wrap: Raids, record orders and rewired trade
Splash Wrap: Raids, record orders and rewired trade US forces seized the VLCC Skipper off Venezuela as the battle between Washington and Caracas intensified with the Trump administration suggesting other vessels could be hijacked, too. China’s state-run shipping COSCO, the world’s largest shipowner, placed a massive order for 87 newbuildings worth more than $7bn with…
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US identifies dozens of tankers for possible seizure
US identifies dozens of tankers for possible seizure Washington is gearing up for a wave of tanker seizures off Venezuela as the Trump administration revives and escalates sanctions enforcement against the country’s oil trade. A day after announcing the dramatic capture of a stateless VLCC (pictured) carrying sanctioned Venezuelan crude, the US treasury on Thursday…
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No tenders yet announced under Australian Government’s “strategic fleet” program
No tenders yet announced under Australian Government’s “strategic fleet” program Jens Karsten Go to baird maritime
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Port of Auckland subsidiary Seafuels orders new bunkering vessel from Turkish yard
Port of Auckland subsidiary Seafuels orders new bunkering vessel from Turkish yard Jens Karsten Go to baird maritime
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Klaveness Combination Carriers seals long-term contract of affreightment with Alunorte
Klaveness Combination Carriers seals long-term contract of affreightment with Alunorte Klaveness Combination Carriers has secured a new long-term contract of affreightment with Brazil’s Alunorte, extending the Norwegian owner’s presence in the alumina supply chain. The 32-month deal, starting in March 2026, will see KCC move caustic soda solution to Alunorte’s refinery. The work will be…
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FSB clearance and underwater checks slow Russian port calls
FSB clearance and underwater checks slow Russian port calls To add to the complications brought about by Ukraine’s renewed maritime attack campaign in and around the Black Sea, shipowners and charterers planning to call at Russian ports should brace for delays and heavy regulatory friction after Moscow introduced sweeping new entry rules for foreign vessels,…
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Bidders circle again as Dongwon revives hunt for HMM
Bidders circle again as Dongwon revives hunt for HMM The race to acquire state-controlled South Korean flagship HMM is heating up once again. Two years after the first sale attempt failed, Dongwon Group, South Korea’s largest fishing company, has signalled its renewed interest, stirring up the market. Although the company’s valuation has soared to as…
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OPINION | G7’s Russian oil tanker ban shows teeth, but bite is in doubt
OPINION | G7’s Russian oil tanker ban shows teeth, but bite is in doubt Reuters Go to baird maritime
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Performance Shipping keeps oldest tanker as FPSO conversion bid fails
Performance Shipping keeps oldest tanker as FPSO conversion bid fails Greek tanker owner Performance Shipping has confirmed that the planned forward sale of its 2009-built aframax P Sophia has fallen through after the vessel was not selected for an offshore conversion project. The company said the buyer, an unnamed third party, informed it that the…
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Bad weather stalls Bulgaria’s rescue of “shadow fleet” tanker
Bad weather stalls Bulgaria’s rescue of “shadow fleet” tanker Reuters Go to baird maritime
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d’Amico clinches high-rate charters for MR pair
d’Amico clinches high-rate charters for MR pair Italian product tanker owner and operator d’Amico International Shipping has strengthened its forward cover with two fresh long-term charter deals for a pair of MR tankers, securing earnings visibility across the next two years. The Milan-and OTCQX-listed company said its operating arm, d’Amico Tankers in Ireland, has fixed…
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Zodiac Maritime unleashes $1.6bn VLCC and boxship play in China
Zodiac Maritime unleashes $1.6bn VLCC and boxship play in China Eyal Ofer’s Zodiac Maritime has joined the latest wave of crude carrier orders, placing a major VLCC newbuilding programme in China as part of its broader $1.6bn fleet renewal drive. The London-based owner has ordered six firm and up to eight conventionally fuelled VLCCs from…
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Black Sea war risk premiums surge
Black Sea war risk premiums surge Insurance rates for ships trading in the Black Sea have jumped sharply following a fresh wave of attacks on vessels linked to Russia. Citing data from Marsh, the world’s largest insurance broker, Bloomberg reported yesterday the cost of covering port calls in the region has more than tripled in…
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Kremlin threatens wider retaliation as Black Sea security deteriorates
Kremlin threatens wider retaliation as Black Sea security deteriorates Security in the Black Sea and surrounding waters has taken an ominous turn following a spike in attacks on Russian-linked shipping and fresh threats from the Kremlin, raising alarm and insurance rates. Vladimir Putin has warned that Moscow may expand military action against commercial tonnage if…
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Malaysia’s Maharani Energy Gateway opens new freeport in Johor
Malaysia’s Maharani Energy Gateway opens new freeport in Johor Jens Karsten Go to baird maritime
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Gunvor hits reset button with leadership buyout and governance overhaul
Gunvor hits reset button with leadership buyout and governance overhaul Gunvor has entered a new chapter after its management team agreed to buy out the company’s existing ownership, ending Torbjörn Törnqvist’s long run as majority shareholder. The Swiss-based commodity trading giant will now be fully owned by a group of senior employees, with no outside…
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A new blast zone emerges for Russia-linked tankers
A new blast zone emerges for Russia-linked tankers A Russian-flagged tanker sailing from Russia to Georgia loaded with sunflower oil reported that it was attacked off the Turkish coast but its 13 crewmembers were unharmed, Turkey’s maritime authority said on Tuesday, likely the latest incident in a renewed, sprawling campaign being carried out by the…
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Norsepower wins contract to install rotor sails on two Japanese VLCCs
Norsepower wins contract to install rotor sails on two Japanese VLCCs Norsepower has won the contract to install rotor sails on a pair of methanol-fuelled VLCCs in a world-first for shipping. Japan’s Idemitsu Tanker first revealed its contract to build these new-look ships in May this year, signing with Japan Marine United Corporation (JMU) and…
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Top Ships lines up $200m Dubai property grab from CEO
Top Ships lines up $200m Dubai property grab from CEO Greece’s Top Ships is preparing to diversify again with a move into Dubai real estate through a deal tied to its chief executive and major shareholder, Evangelos Pistiolis. The New York-listed tanker owner has signed a letter of intent to acquire all or part of…
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Hafnia trims ageing tonnage with four-ship sale
Hafnia trims ageing tonnage with four-ship sale Product tanker heavyweight Hafnia has moved ahead with a fresh round of fleet trimming, selling four older MR tankers as part of its rolling renewal programme. The BW Group-backed owner confirmed it sold the 2011-built Hafnia Andromeda in September, followed by the 2012-built Hafnia Lupus in October. Two…
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OPINION | OPEC+ sticks to its “all is fine in oil” mantra, but uncertainty rises
OPINION | OPEC+ sticks to its “all is fine in oil” mantra, but uncertainty rises Reuters Go to baird maritime
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Greek owner Super-Eco Tankers signs four-ship MR order in China
Greek owner Super-Eco Tankers signs four-ship MR order in China Greek tanker owner Super-Eco Tankers Management has returned to the newbuilding market with an order for up to four MR product and chemical tankers in China, marking the company’s first newbuild investment in more than two years. The Piraeus-based company has signed a 2+1+1 order…
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Eastern Pacific locks in 12 newbuilds at Hengli
Eastern Pacific locks in 12 newbuilds at Hengli China’s Hengli Shipbuilding has confirmed a major newbuilding programme for Eastern Pacific Shipping (EPS), detailing a 12-ship order that marks one of the most substantial commitments at the yard this year. The deal, valued between $1.1bn and $1.6bn, spans three vessel types and signals the Idan Ofer-led…
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Ukraine hits two Russian shadow fleet tankers with drones in Black Sea
Ukraine hits two Russian shadow fleet tankers with drones in Black Sea Reuters Go to baird maritime
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Black Sea blasts set sanctioned tankers ablaze off Turkish coast
Black Sea blasts set sanctioned tankers ablaze off Turkish coast Two tankers linked to Russia’s shadow fleet were hit by blasts and caught fire in the Black Sea on Friday, prompting a major rescue response from Turkish authorities. All crewmembers from both ships are reported safe. The 150,000 dwt 2002-built suezmax Kairos was the first…
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Two Russian “shadow fleet” tankers struck by blasts in Black Sea
Two Russian “shadow fleet” tankers struck by blasts in Black Sea Reuters Go to baird maritime
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Splash Wrap: All eyes on the Suez Canal
Splash Wrap: All eyes on the Suez Canal The Suez Canal Authority was in bullish form this week, suggesting that many shipping companies are readying to ditch the Cape of Good Hope and return to Red Sea transits, something that will have an enormous impact on freight rates. Diana Shipping made its move on New…
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Evalend adds to expanding suezmax line-up
Evalend adds to expanding suezmax line-up Evalend Shipping has moved to bulk up its suezmax newbuilding programme in South Korea, with the Greek owner eyeing another two units at HD Hyundai as crude tanker contracting continues at pace. Shipbuilding players have linked the Kriton Lendoudis-led company to a fresh pair of 157,000 dwt newbuildings, understood…
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d’Amico offloads oldest tanker in $19.5m deal
d’Amico offloads oldest tanker in $19.5m deal Italian product tanker owner and operator d’Amico International Shipping has agreed to sell the oldest vessel in its fleet, marking another step in the company’s ongoing fleet-renewal drive. The 47,200 dwt MR tanker Glenda Meryl, built in 2011 at Hyundai Mipo in South Korea, will change hands for…
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Splash Singapore confirms stellar global shipowner cast
Splash Singapore confirms stellar global shipowner cast Big names in global shipowning are signing up to speak at next year’s Splash Singapore with organisers determined to make the event Asia’s largest shipowner gathering. Splash Singapore is a new event building on eight editions of the Maritime CEO Forum Singapore, organised by the team behind shipping…
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AET orders pair of suezmaxes
AET orders pair of suezmaxes MISC’s tanker subsidiary AET has contracted for two LNG dual-fuel suezmax vessels at an unspecified yard. With this order, MISC, Malaysia’s largest shipping firm, will have dual-fuel capability in all the tanker sectors it operates in – aframaxes, shuttle tankers, suezmaxes and VLCCs. “This milestone reinforces MISC Group’s commitment to…
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Atlas Maritime revealed as seller in $194m Okeanis suezmax deal
Atlas Maritime revealed as seller in $194m Okeanis suezmax deal Greek owner Okeanis Eco Tankers disclosed last week that it is expanding its crude fleet with the purchase of two suezmax newbuilding resales. Brokers now reveal the seller as Atlas Maritime, with the vessels identified as Viking Star and North Star. The New York- and…
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Are surging Chinese imports of Indonesia oil rebranded Iranian crude?
Are surging Chinese imports of Indonesia oil rebranded Iranian crude? Reuters Go to baird maritime
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Singapore port issues licences to supply methanol as marine fuel
Singapore port issues licences to supply methanol as marine fuel Reuters Go to baird maritime
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Emarat Maritime emerges behind Hengli’s six-tanker series
Emarat Maritime emerges behind Hengli’s six-tanker series Dubai’s Emarat Maritime has made a move into tanker newbuildings, emerging as the owner behind a sextet of LR2 product carriers ordered at China’s Hengli Shipbuilding. Industry players said the Sharaf Group–owned company is the buyer of the six 114,000 dwt aframax/LR2 units recently revealed by the yard.…
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Eastern Pacific makes VLCC comeback with newbuild deal in China
Eastern Pacific makes VLCC comeback with newbuild deal in China Eastern Pacific Shipping (EPS) has returned to the VLCC market with its first large crude carrier order, contracting two 306,000 dwt tankers at China’s Hengli Shipbuilding. Industry sources say the Singapore-based owner should see the vessels delivered in the fourth quarter of 2027. The move…
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US targets sprawling Iranian shadow fleet network in latest sanctions drive
US targets sprawling Iranian shadow fleet network in latest sanctions drive The United States has unveiled one of its most extensive crackdowns to date on the Iranian oil-ecosystem, blacklisting a web of front companies, intermediaries and tankers that Washington says bankroll Tehran’s armed forces through clandestine crude sales. The action, announced overnight by the US…
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Splash Wrap: Bridges, bombs, bottlenecks
Splash Wrap: Bridges, bombs, bottlenecks The Black Sea entered one of its most volatile phases as Ukraine and Russia escalated long-range strikes on each other’s critical energy and port infrastructure, leaving commercial shipping exposed to huge levels of risk. Latest shipping traffic data points toward a rise in Suez Canal transits, with authorities in Egypt…
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Odfjell and Nissen Kaiun team up in new chemical tanker venture
Odfjell and Nissen Kaiun team up in new chemical tanker venture Norwegian chemical tanker owner Odfjell has joined forces with Japanese shipping major Nissen Kaiun to launch a new Bergen-based joint venture for operating stainless-steel chemical tankers. The new company, Odfjell Hakata Maritime, will pool 10 modern chemical tankers contributed equally by the two partners.…
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China fuel oil exports hit year-to-date low in October
China fuel oil exports hit year-to-date low in October Reuters Go to baird maritime
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Okeanis Eco Tankers moves for two suezmax resales in $194m deal
Okeanis Eco Tankers moves for two suezmax resales in $194m deal Greek owner Okeanis Eco Tankers is moving to expand its crude fleet with the purchase of two suezmax newbuilding resales, backed by a planned share issue to help finance the deal. The New York- and Oslo-listed company, controlled by the Alafouzos family, has agreed…
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FEATURE | California refinery closures spark pipeline race to West Coast as rival refiners bet on waterborne fuels
FEATURE | California refinery closures spark pipeline race to West Coast as rival refiners bet on waterborne fuels Reuters Go to baird maritime
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Yangzijiang Maritime seals SGX debut with multiple vessel deals
Yangzijiang Maritime seals SGX debut with multiple vessel deals Yangzijiang Maritime Development marked its first day on the Singapore Stock Exchange’s mainboard with a string of new vessel deals, underscoring its ambitions as a growing maritime financial and asset management player. The company said it has signed contracts with a Marshall Islands-based owner for the…
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Black Sea threat level red
Black Sea threat level red The Black Sea has entered one of its most volatile phases as Ukraine and Russia escalate long-range strikes on each other’s critical energy and port infrastructure, leaving commercial shipping exposed to huge levels of risk. Over the weekend, Ukraine claimed fresh hits on Rosneft’s Ryazan refinery — one of Russia’s…
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Hijacked tanker found in Iran’s familiar holding ground
Hijacked tanker found in Iran’s familiar holding ground The Talara, a Marshall Islands-flagged product tanker, apprehended by the Iranian military on Friday has been tracked down. The vessel is moored in the Khuran Strait, north of Qeshm Island, a familiar location for vessels hijacked by the Iranian Revolutionary Guard Corps (IRGC), according to TankerTrackers.com. State…
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Chelsea Logistics swings to $2.6m nine-month profit, revenue up 15 per cent
Chelsea Logistics swings to $2.6m nine-month profit, revenue up 15 per cent Alan Bosworth Go to baird maritime
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Oil prices spike as Russian port halts exports after drone strike
Oil prices spike as Russian port halts exports after drone strike Reuters Go to baird maritime
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Iranian forces seize Marshall Islands-flagged tanker off UAE coast
Iranian forces seize Marshall Islands-flagged tanker off UAE coast Reuters Go to baird maritime
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Iran seizes tanker transiting the Gulf of Oman
Iran seizes tanker transiting the Gulf of Oman A Marshall Islands–flagged crude oil tanker, Talara, has been apprehended today by three small boats belonging to the Iranian military whilst transiting the Gulf of Oman on a voyage from the United Arab Emirates to Singapore. The 73,371 dwt has since been redirected to the Iranian coastline.…
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Sanctions spur surge in Russian oil languishing at sea
Sanctions spur surge in Russian oil languishing at sea The amount of oil stranded on tankers worldwide has ballooned in recent months, with Russian barrels making up an outsized share of the floating glut as sanctions upend traditional trade flows. Analysts at Vortexa, Kpler and OilX estimate that roughly 1bn barrels are now sitting at…
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Splash Wrap: Flows shift again
Splash Wrap: Flows shift again The Houthis officially announced that they have paused maritime attacks on Israel and lifted their so-called naval blockade on Israeli ports. This announcement appeared at the end of a letter sent to Hamas’s military wing, Kata’ib al-Qassam, by the newly appointed Houthi chief of staff, Yousef Hassan Al-Madani, who succeeded…
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Ukrainian drones hit Novorossiysk as strikes on Russian Black Sea ports intensify
Ukrainian drones hit Novorossiysk as strikes on Russian Black Sea ports intensify Ukrainian forces mounted a large drone strike on Novorossiysk early Friday, damaging a ship in port, hitting apartment blocks, and igniting a blaze at one of Russia’s most important oil terminals in the Black Sea – the latest in a growing series of…
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Shipping hesitates on Red Sea return
Shipping hesitates on Red Sea return Experts covering the Red Sea shipping crisis have advised caution over any swift return to the Middle Eastern tradelane. Yesterday, the Houthis officially announced that they have paused maritime attacks on Israel and lifted their so-called naval blockade on Israeli ports. This announcement appeared at the end of a…
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Scorpio Tankers back in VLCC game with Hanwha Ocean deal
Scorpio Tankers back in VLCC game with Hanwha Ocean deal Monaco-based Scorpio Tankers has made a surprise return to the crude carrier newbuilding market after more than a decade, signing up for two very large crude carriers (VLCCs) at South Korean yard Hanwha Ocean. The New York-listed product tanker giant has inked letters of intent…
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Houthis signal end to Red Sea attacks as shaky ceasefire holds
Houthis signal end to Red Sea attacks as shaky ceasefire holds The Houthis have officially announced that they have paused maritime attacks on Israel and lifted their so-called naval blockade on Israeli ports. This announcement appeared at the end of a letter (pictured below) sent to Hamas’s military wing, Kata’ib al-Qassam, by the newly appointed…