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Hyundai Heavy Bags Double VLCC Order

May 21, 2020

South Korea's shipbuilding giant Hyundai Heavy Industries has secured an order to build two very large crude carriers for unnamed European shipowners.The value of the orders for two 300,000-ton VLCCs, which will be equipped with scrubbers to meet IMO emission regulations, is 200 billion South Korean Won ($162.5 million).The VLCCs will be 330 meters long, 60 meters wide, and 29.7 meters high. Hyundai Heavy…

China to Receive Rare U.S. Ethanol Shipment on Friday

May 21, 2020

A rare ethanol shipment of U.S. origin is expected to arrive in China this month, according to three industry sources and shipping data, probably the first such cargo since the two countries struck an initial trade deal in January.The market…

LNG Carrier Delivered to Nakilat

May 20, 2020

Qatari shipping company Nakilat took delivery of a newbuild liquefied natural gas (LNG) carrier Global Energy. Built by South Korea's Daewoo Shipbuilding & Marine Engineering (DSME), the vessel will be managed in-house by Nakilat and is the…

SFL Buys Newbild VLCC with Long-Term Charter Secured

May 20, 2020

Shipowner SFL Corporation has agreed to buy a newbuild 308,000 dwt very large crude carrier (VLCC), in combination with a seven-year bareboat charter with an unnamed oil major, adding nearly $60 million to SFL’s fixed-rate charter backlog.The…

Ocean Tankers Placed Under Court-appointed Supervisor

May 12, 2020

Two EY executives in Singapore have been appointed interim judicial managers of Ocean Tankers, the accounting firm said on Tuesday, following a Singapore court hearing to consider the shipping company's request to appoint independent managers…

Samsung Delivers LNG Carrier to GasLog

May 11, 2020

Greek shipowner GasLog has taken delivery of a newbuild liquefied natural gas (LNG) carrier from Korean shipbuilder Samsung Heavy Industries. The 180,000-cubic-meter-capacity GasLog Wales will operate on a 12-year time charter agreement with the principal LNG shipping entity of Japan’s JERA…

China Issues Second Batch Fuel Export Quotas

May 11, 2020

China has issued 28 million tonnes of refined fuel export quotas in the second allotment for this year, little changed from the first batch of 27.99 million tonnes issued last December, according to four sources with knowledge of the matter…

China's Crude Oil Imports Rebound in April

May 07, 2020

China's crude oil imports rebounded in April from a month earlier on daily basis as refiners ramped up output amid a recovery in fuel demand with the impact of the coronavirus outbreak easing while crude prices crashed on slumping consumption elsewhere…

China's Crude Imports from Saudi Slip, Russia Up 31%

Apr 27, 2020

China's March crude oil imports from top supplier Saudi Arabia fell 1.6% from a year earlier, while purchases from No.2 supplier Russia rose 31%, Reuters' calculations based on customs data showed on Sunday.China's March crude oil imports rose 4…

Supertanker Rates Ease After Spike. Could Jump Again Soon

Apr 24, 2020

Supertanker freight rates eased this week as surging demand for floating storage cooled and crude oil output is set to fall, but rates could jump again as fewer tankers become available and as traders take advantage of weak oil prices, sources said…

LNG Tanker to Discharge First US Cargo in China in 13 Months

Apr 20, 2020

The tanker Maran Gas Vergina has arrived in China with the first delivery of U.S. liquefied natural gas (LNG) in 13 months, shipping data showed on Monday.This is the first shipment since March 2019 after a long-standing trade war in which China…

Bank Seeks Impounding of Ocean Tankers' Ships

Apr 20, 2020

India's ICICI Bank is seeking the impounding of two vessels operated by Ocean Tankers (Pte) Ltd, a unit of Singapore oil-trading company Hin Leong Trading Pte Ltd (HLT), an ICICI source said on Monday.The tankers, Wu Yi San and Chang Bai San…

Singapore Oil Trader Hin Leong Meets Banks over Finances

Apr 15, 2020

Singapore oil trader Hin Leong held a call with banks on Tuesday after they failed to provide a letter of credit to the firm to purchase at least one cargo of oil products due to load this month, four sources said.The coronavirus pandemic has…

SHI Wins $314M Orders for 3 Shuttle Tankers

Mar 02, 2020

South Korean shipyard giant Samsung Heavy Industries (SHI) has won a 361.1 billion won ($314.4 million) deal to build three shuttle tankers in Asia.The shipbuilder disclosed in a regulatory filing that Suezmax shuttle tankers will be delivered to the unnamed Asian shipper by July 2022…

Coronavirus Leaves China-bound Tankers Stranded

Feb 14, 2020

The coronavirus's effect on energy markets is worsening, as the sharp fall in demand in China, the world's largest importer of crude, is stranding oil cargoes off the country's coast and prompting shippers to seek out other Asian destinations…

Current News

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Malaysia: Tanjong Baram Field Contract Terminated

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Lightning Sparks Fire at Hengyuan's Malaysian Refinery

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Petronas Braces for Severe 2020 Hit. 1Q Profit Down 68%

South Korea's DSME Wins $330M FSRU Order

South Korea's DSME Wins $330M FSRU Order

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China to Boost Energy Reserve Capacity, Support Unconventional Gas Exploration

Rosneft Re-appoints Sechin as CEO

Rosneft Re-appoints Sechin as CEO

Indonesia OKs Coro's Duyung PSC Farm-In

Indonesia OKs Coro's Duyung PSC Farm-In

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