Oil Tankers News

The Oil Companies International Marine Forum (OCIMF) has published a revision of its Guidelines for the Purchasing and Testing of SPM Hawsers – critical equipment used to ensure the safe mooring of tankers during the loading and discharging of oil cargoes from offshore facilities.Single point mooring (SPM) hawsers connect tankers to FPSOs, FSOs or offloading buoys. Testing and specification of SPM hawsers is crucial for ensuring the hawsers have the required strength, durability and reliability to perform safely and effectively under demanding circumstances…

Germany seized a decrepit tanker found adrift off its northern coast in January that is believed to be part of a shadow fleet used by Russia to circumvent oil sanctions, Spiegel news magazine reported on Friday, citing security sources.The Panama-flagged ship, called Eventin, was secured by German maritime authorities after being found off the Baltic Sea island of Ruegen, prompting Berlin to sharply rebuke Moscow. The tanker had been heading from Russia to Egypt.Spiegel reported that a confiscation order has been issued for the tanker…

A ship carrying Russian crude transferred from three smaller tankers that are under U.S. sanctions unloaded last week at a Chinese port, shiptracking data shows, ending an unusual month-long voyage highlighting the efforts of producers and traders to keep Moscow's oil flowing despite tightened curbs.The Panama-flagged Daban, one of dozens of non-sanctioned vessels drawn to the Russian oil trade by fat margins following the January 10 U.S. sanctions, was received at a berth run by the privately-controlled Qingdao Haiye Group at the port of Qingdao…

An oil tanker and a cargo ship a collided off the northeastern coast of England on Monday causing a huge fire, with authorities mounting an emergency response involving aircraft and lifeboats.Shipping industry sources told Reuters the two vessels involved were the chemical tanker Stena Immaculate and container ship Solong.Television images from the BBC showed at least one vessel ablaze with clouds of black smoke billowing into the air.The coastguard agency said a helicopter, fixed-wing aircraft, lifeboats and nearby vessels with fire-fighting capability were called to the incident.The Royal Na

Qatar Gas Transport Co is currently the top Gulf Cooperation Council (GCC) company in monetary terms, with a live and on-order fleet value of $11.9 billion, reports Rebecca Galanopoulos of Veson Nautical.Based on VesselsValue data, the fleet consists of 36 live LNG and LPG vessels with a further 30 on order. Qatar Gas also placed the highest value newbuilding order in February 2024 with their investment in 15 large LNG vessels, scheduled to be built at Samsung and contracted for…

Russia has ordered divers to inspect ships in its ports, a government letter seen by Reuters shows, after suspected attacks on four oil tankers that visited in recent weeks.At the same time the Russian navy will help protect from the threat of drones and unmanned vessels, it said.Three oil tankers around the Mediterranean, and another in the Russian Baltic, have been damaged by blasts in the last month.All four had recently called at Russian ports, according to shipping sources…

The Maritime and Port Authority of Singapore (MPA) has conducted a table-top exercise with Indonesia and Malaysia to enhance regional coordination and strengthen response capabilities for oil spills. The exercise brought together over 20 representatives from MPA, Indonesia’s Directorate General of Sea Transportation, Malaysia’s Environment Department, and oil spill response experts from ITOPF.As part of Singapore’s chairmanship of the Revolving Fund Committee (RFC) from April 2022 until March 2027, MPA led the exercise to foster collaboration.

Oil executives called on Thursday for a return to navigation through the Red Sea en route to the Suez Canal following a halt in attacks by Iran-backed Houthi rebels, but said firms were cautiously monitoring shipping conditions and competitors.A Liberian-flagged oil tanker that was attacked last year sailed through the Red Sea this week, the Suez Canal said on Monday, in one of the first voyages since the Houthi rebels last month said they would limit attacks on commercial vessels to Israel-linked ships until the Gaza ceasefire is fully implemented.

Liberian-flagged crude oil tanker Chrysalis, which was attacked by Yemen's Houthis last year, sailed through the Red Sea this week, the Suez Canal said on Monday, in one of the first voyages since the militia announced a halt in attacks on ships not linked to Israel.Shipping companies, many of which have suspended Red Sea voyages and rerouted vessels around southern Africa to avoid potential Houthi attacks, have been anxiously waiting for confirmation of safe voyages through the Red Sea since the Gaza ceasefire.The Iran-aligned Houthis…

McQuilling Services announced the release of its 28th anniversary edition, 2025-2029 Tanker Market Outlook.This 183-page report provides a detailed analysis of oil fundamentals, global economic and geopolitical context in addition to tanker demand and supply projections across eight vessel classes. The interaction of tanker demand and vessel supply variables is processed using advanced quantitative modeling to produce a five-year spot and time charter equivalent (TCE) forecast for eight vessel classes across 27 benchmark tanker trades, plus five triangulated trades.

Oil prices slipped on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost U.S. oil and gas output in his first week in office.Brent crude futures LCOc1 dropped 53 cents, or 0.68%, to $77.97 a barrel by 0430 GMT after settling up 21 cents on Friday.U.S. West Texas Intermediate crude CLc1 was at $74.16 a barrel, down 50 cents, or 0.67%.Trump on Friday reiterated his call for the Organization of the Petroleum…

A tanker subject to the new U.S. sanctions is discharging Russian oil at a port operated by Shandong Port Group in east China, shipping data on LSEG Eikon showed on Thursday.The tanker is the first since last week's sanctions announcement to discharge in Shandong province where many of China's independent refineries that have been big importers of Russian crude are based.It will be monitored closely by those in the industry anxious to know how strictly the measures will be implemented.The sanctions include a grace period exempting cargoes loaded before Jan.

"This time it's different" is a well-worn cliché that seems to be getting another whirl with the latest U.S. sanctions against Russia's crude oil exports.Oil prices jumped in the wake of the new measures aimed at preventing Russia from shipping crude using a so-called "dark fleet" of tankers.It does seem strange an industry which has been arguing since Russia's 2022 invasion of Ukraine that sanctions are largely ineffective, should suddenly switch to thinking the new steps are…

Colonial Pipeline's main U.S. gasoline artery is expected to be shut through Friday as the company continues to search for the source of a suspected leak in Paulding County, Georgia, the company said in a statement on Wednesday.Line 1, one of two mainlines on the more than 5,500-mile Colonial system, was shut on Monday night after Colonial received reports of a gasoline release and began investigating. The pipeline moves gasoline from Texas to North Carolina and was earlier expected to resume service on Tuesday night…

Supertanker freight rates jumped after the U.S. expanded sanctions on Russia's oil industry, sending traders rushing to book vessels to ship supply from other countries to China and India, shipbrokers and traders said.Chinese and Indian refiners are seeking alternative fuel supplies as they adapt to severe new U.S. sanctions on Russian producers and tankers designed to curb the world No. 2 oil exporter's revenue due to its war in Ukraine.Many of the newly-targeted vessels, part of a so-called shadow fleet that seeks to avoid Western restrictions…

Navig8 TopCo Holdings Inc. announced that it has been acquired by ADNOC Logistics and Services plc.Navig8 is an international shipping pool operator and commercial management company with a modern owned fleet of 32 tankers and a presence in 15 cities across five continents. The Navig8 Group also holds investments in technical management companies, a marine fuels provider operating in over a thousand ports worldwide, and other enterprises serving the marine sector.This deal represents a significant milestone for the Company, founded in 2007 as a private organisation by former traders Gary Brocklesby and Nicholas Busch. The acquisition is set to deliver value to both Navig8 and ADNOC L&S’ clients and shareholders…

The price of Iranian crude oil sold to China has risen to the highest in years as fresh U.S. sanctions have tightened shipping capacity and driven up logistics costs, trade sources and analysts said.Rising prices for Iranian oil as well as Russian crude are raising costs for independent Chinese refiners that account for about a fifth of demand at the world's top crude importer, underscoring challenges ahead as the Trump administration is expected to ramp up pressure on Iran.Some of the refiners are switching to supplies not under sanction restrictions, including from the Middle East and West Africa, to meet seasonal winter and pre-Lunar New Year demand…

Oil rose almost 1% on Thursday in thin holiday trade driven by hopes for additional fiscal stimulus in China, the world's biggest oil importer, and supported by an industry report showing a decline in U.S. crude inventories.Chinese authorities have agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year, Reuters reported on Tuesday, citing two sources, as Beijing ramps up fiscal stimulus to revive a faltering economy.Brent crude futures rose 48 cents, or 0.7%, to $74.06 a barrel by 1445 GMT. U.S. West Texas Intermediate crude was at $70.72, up 0.9%, or 62 cents, from Tuesday's pre-Christmas settlement."I see two factors supporting oil prices.

The United States hit North Korea and Russia on Monday with new sanctions that the Treasury Department said targeted Pyongyang's financial activities and military support to Moscow.The sanctions, which list North Korean banks, generals and other officials as well as Russian oil shipping companies, are the latest U.S. measure aimed at disrupting North Korea's support to Russia's war in Ukraine.The North Korean banks targeted include Golden Triangle Bank and Korea Mandal Credit Bank…

Oil prices eased about 1% to a one-week low on Tuesday on demand worries following the release of negative economic news from Germany and China, while investors remained cautious ahead of a U.S. Federal Reserve decision on interest rates.Brent futures fell 90 cents, or 1.2%, to $73.01 a barrel by 1:36 p.m. EST (1836 GMT), while U.S. West Texas Intermediate crude slipped 86 cents, or 1.2%, to $69.85. That puts both crude benchmarks on track for their lowest closes since Dec. 10 and cut the premium of Brent over WTI to a 12-week low of $3.56 a barrel, based on the February contracts.Analysts have said when Brent's premium over WTI falls below $4 a barrel, it does not make economic sense for energy firms to send ships to pick up U.S. crude, which should result in lower U.S.

A Russian oil tanker carrying thousands of tonnes of oil products split apart during a heavy storm on Sunday, spilling oil into the Kerch Strait, while another tanker was also in distress after sustaining damage, Russian officials said.The vessels were in the Kerch Strait between mainland Russia and Crimea, which Russia annexed from Ukraine in 2014, when they issued distress signals.Russian investigators opened two criminal cases to look into possible safety violations after at least one person was killed when the 136-metre Volgoneft 212 tanker…

Belgian oil tanker company CMB.TECH has soled three Suezmax vessels to Bocimar International, a wholly owned subsidiary of CMB.The Suezmax vessels include Selena (2007, 150,205 dwt) Cap Victor (2007, 158,853 dwt) and Cap Felix (2008, 158,765 dwt).The sale will generate a capital gain of $70.9 million, and the vessels will be delivered to their new owner in December 2024, CMB.TECH said.“The transaction enables the company to manage its portfolio of ships in line with its strategy of decarbonizing and optimizing its fleet.

Spilled oil has washed up along "tens of kilometres" of the Russian Black Sea coast after two tankers were badly damaged in a storm at the weekend, a regional official said on Tuesday, and state media said a third vessel was now in trouble.TASS news agency said the third ship, also a tanker, had issued a distress signal off the port of Kavkaz, but its hull was still intact, there was no oil spillage and the crew was safe.The first ship, the Volgoneft 212, split in half on Sunday in the Kerch Strait, between the Black Sea and the Sea of Azov.