Frontline will buy 10 Suezmax oil tankers from Trafigura in a cash and share deal worth up to $675 million, and may buy a further four vessels later, the two companies announced on Friday.The deal will allow Frontline, which is controlled by Norwegian-born billionaire John Fredriksen…
Two new dual-fueled tankers capable of operation using clean-burning Methanol, Mari Couva and Mari Kokako were named at the Hyundai Mipo Dockyard (HMD) by owners Marinvest and Waterfront Shipping.The Methanol Institute has welcomed the launch of the 49…
During the second quarter 2019, spot liquefied natural gas (LNG) freight rates stabilized and started gradually to recover, says Flex LNG, the owner of LNG carrier vessels and floating storage regasification units (FRSUs).Unseasonably slow…
During the first half of 2019, the tanker markets produced voyage result per day levels that exceeded the corresponding period in the slump year 2018 by 50-100 percent, said Concordia Maritime.The Swedish international tanker shipping company's…
Chinese oil trader Unipec chartered a supertanker to ship U.S. crude to China in September, trading sources said, the first such cargo since U.S. President Donald Trump announced additional tariffs on Chinese import, ending a monthlong trade truce…
Energy Transfer LP said on Thursday it was in discussions to build an export facility in Texas capable of handling supertankers with the capacity to transport about 2 million barrels of crude.The facility would be connected to its Nederland…
Cheniere Energy Inc said on Monday it is conducting previously scheduled turnarounds on Trains 3 and 4 at the Sabine Pass liquefied natural gas (LNG) export terminal in Louisiana as part of its maintenance plan for the facility.The company did…
U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row as most independent producers cut spending even though majors were still pushing ahead with investments in new drilling.Drillers cut six oil rigs in the week to Aug…
U.S. crude oil exports surged 260,000 barrels per day (bpd) in June to a monthly record of 3.16 million bpd as South Korea bought record volumes and China resumed purchases, data from the U.S. Census Bureau showed on Friday.South Korea surpassed Canada to become the biggest purchaser of U…
Enterprise Products Partners LP said on Wednesday it expects to take about two years to construct its oil export project called Sea Port Oil Terminal, or SPOT, in the U.S. Gulf of Mexico.Permitting for the terminal was expected to reach the…
China's purchase of some U.S. soybeans is being viewed as a tentative sign of a little détente in the dispute between the world's two largest economies, but real progress would be a resumption of what had been a burgeoning energy trade.U.S.…
Some August-loading Angolan cargoes cleared but trading was slow on Monday as new programs were expected to emerge this week.The preliminary Angolan loading program for September is expected to emerge on Tuesday. New Nigerian programs are expected at the end of the week…
U.S. crude exports are gaining traction in Europe as even Ukraine turns into a significant consumer of American barrels at the expense of Russian supplies amid heightened U.S. political pressure on Moscow and problems over contaminated Russian oil…
The Louisiana Offshore Oil Port (LOOP) exported a record 283,333 barrels per day of light sweet crude last month, according to trade sources, as prices weakened against global Brent.LOOP, which exports mostly medium sour grades produced in the U…
With U.S. sanctions blocking Venezuela from selling oil to the United States, state-owned energy firm PDVSA has turned to several little-known buyers that include a tiny Turkish company with no refineries but ties to President Nicolas Maduro's government…
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