Tankers News

The majority of the jet fuel aboard the U.S.-flagged tanker Stena Immaculate remains secure despite a collision with a container ship off the British coast, the tanker's owner, Stena Bulk, reported on Wednesday. Only two of the vessel’s 18 fuel tanks have leaked.The incident occurred on Monday when the Portuguese-flagged container ship Solong struck the Stena Immaculate, which was carrying jet fuel for the U.S. military. British authorities have since arrested the captain of the…

Tanker owner Performance Shipping entered into a sale and leaseback agreement with an unaffiliated third party for a previously announced newbuild LR2 Aframax tanker vessel. This concludes the financing for all three newbuilding LNG-ready, scrubber-fitted LR2 product/crude oil tanker vessels of approximately 114,000 dwt each, expected to be delivered in August and September 2025, and January 2026.The bareboat financing amount totals $45 million. As part of this agreement, the vessel will be sold and then chartered back to Performance Shipping Inc.

Akdeniz Shipyard launched a new 1200-cbm capacity tanker for delivery to an American client.The tanker will operate in the Bahamas, and measures 61 x 10.95m, most notable with only a 2.9-m draft.Last year Akdeniz Shipyard delivered a 1500-cbm capacity chemical tanker that was highly praised for meeting international quality standards. Additionally, the shipyard is currently working on bulk carriers and tugboats of various capacities.Akdeniz continues to export ships to many countries worldwide, especially in Europe and America.

“Year-to-date, Canadian crude tanker exports have reached 618 thousand barrels per day (kbpd) up from 388 kbpd during the same period last year, an increase of 59%,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.When the Trans Mountain Pipeline extension opened on 1 May 2024 its capacity grew from 300 kbpd to 890 kbpd. Consequently, exports from Vancouver increased significantly starting in June.So far this year, the Vancouver exports have reached 373 kbpd to contribute 60% of total Canadian crude tanker exports.

Asia's crude oil imports are off to a weak start in 2025, as top importer China continues to buy less and new sanctions put the brakes on cargoes from the continent's top supplier Russia.Asia's imports for the first two months of the year are on track to be 26.17 million barrels per day (bpd), down 780,000 bpd from the 26.96 million bpd for the same period last year, according to data compiled by LSEG Oil Research.The drop of about 3% in crude imports by Asia in the first two…

The cancellation of a license for Chevron to operate in Venezuela could lead to the negotiation of a fresh agreement between the U.S. producer and state company PDVSA to export crude to destinations other than the United States, sources close to the talks said.U.S. President Donald Trump said on Wednesday he was reversing the license, accusing President Nicolas Maduro of not making progress on electoral reforms and migrant returns.U.S. Secretary of State Marco Rubio later said…

Belgian oil tanker group CMB Tech said on Thursday its profit sunk 76% in the fourth quarter amidst slow tanker and dry bulk markets, although it still beat market expectations aided by the disposal of some older vessels.The group, formed after Euronav's takeover of Compagnie Maritime Belge last year, reported a net gain of $0.48 per share for the final quarter of 2024, compared to $2.01 a year earlier. Analysts were expecting $0.21 per share on average, LSEG's IBES data showed.CMB Tech is continuing to carry out its long-term strategy of rejuvenating and optimizing its fleet…

Nigeria's state oil firm NNPC announced a joint venture with Swedish tanker giant Stena Bulk and Nigerian offshore logistics leader Caverton Marine to overhaul maritime transportation in West Africa.The newly formed company will streamline crude oil, refined products and LNG shipping across West Africa and cater to other oil producers and traders in the region with modern vessels.The companies did not share financial details of the deal, which was signed last week."By combining our expertise with Stena Bulk and Caverton Marine, we are creating a robust platform that will enhance our domestic r

Mines attached to the hulls of ships and set off with timers likely caused blasts that have damaged two crude oil tankers in the Mediterranean Sea since January, three sources close to the investigation said on Monday.At least five vessels have been damaged, including explosionson the Greek-managed tankers Seacharm and Seajewel which Reuters reported last week. The incidents have raised concerns of a new security threat in the typically safe waters of the Mediterranean, just as the shipping industry is dealing with attacks in the busy Red Sea route.It is not clear who is responsible for the alleged attacks. The vessels had recently called at Russian ports, according to ship tracking data and sources.

Spanish wind propulsion systems supplier bound4blue has installed its eSAIL wind assisted propulsion system on Pacific Sentinel tanker, owned by Eastern Pacific Shipping (EPS).Three 22-meter, DNV-Type Approved eSAILs were installed on the 50,000 dwt Pacific Sentinel in under a day per unit, as planned, bound4blue said.The installation occurred during a scheduled vessel drydock, with preparatory work completed in advance.The fully autonomous wind assisted propulsion system will…

The Singapore trading arm of U.S.-based refiner Phillips 66 has recently leased a new floating storage vessel along the Singapore and Malacca Straits for storing fuel oil, market sources told Reuters.The 300,000 metric-tons capacity Southern Emperor is the latest addition to 19 existing fuel oil floating storage vessels along the Straits chartered by various market participants, said sources.So far, Phillips 66 has been partially renting the EM Splendour for fuel oil storage.The Singapore and Malacca Straits are a key location for fuel oil storage in Asia, with traders building inventories of

Russia may be forced to reduce its oil production in the coming months as U.S. sanctions restrict access to tankers needed for exports to Asia, while Ukrainian drone attacks continue to damage key refineries.Last month, the U.S. imposed sanctions targeting 180 Russian tankers, coinciding with an escalation in Ukrainian drone strikes aimed at strengthening Kyiv’s bargaining position. These developments come amid growing expectations that U.S. President Donald Trump will pressure Russian President Vladimir Putin to negotiate an end to the war in Ukraine.

U.S. President Donald Trump will restore his "maximum pressure" campaign on Iran and drive its oil exports down to zero, a U.S. official said on Tuesday.Iran has repeatedly threatened to close the Strait of Hormuz for traffic as a retaliation for Western pressure. That would shut down the region's trade and lead to a spike in oil prices.The Streit of Hormuz & OilThe strait lies between Oman and Iran and links the Gulf north of it with the Gulf of Oman to the south and the Arabian Sea beyond.It is 21 miles (33 km) wide at its narrowest point…

Russia's seaborne diesel and gasoil exports rose almost by a quarter in January from December as traders sought to increase supplies before new U.S. sanctions come into effect and amid seasonal low domestic demand, LSEG and market sources data show.The U.S. Treasury announced sweeping new sanctions against the Russian energy sector on Jan. 10, targeting two major oil companies, dozens of traders and some 180 vessels.A transition period allows cargoes to be discharged from sanctioned tankers until Feb.

Marine transportation company operating in the product tanker market d’Amico International Shipping has, through its subsidiary d’Amico Tankers D.A.C. (Ireland), signed time charter agreements for five vessels.The new time charter agreements are for four Handysize vessels and extended a time-charter contract on one MR vessel.The agreements have been concluded with reputable counterparties at highly profitable daily hire rates.The company did not disclose additional details regarding…

The trade of Russian oil for March-loading in Asia has slowed significantly as a growing gap between buyer and seller expectations in China has emerged. This disconnect comes amid rising costs for chartering non-sanctioned tankers following new U.S. sanctions, according to traders and shipping data.Fresh sanctions imposed by Washington on January 10 targeting Russia's oil supply chain have caused tanker freight rates to surge. Many buyers and ports in China and India are avoiding ships affected by the sanctions…

The California Air Resources Board (CARB) has provided new information about the Vessel Incident Event (VIE) and Terminal Incident Event (TIE) compliance option under its 2020 At Berth Regulation.Emission reduction requirements began on January 1, 2025, for tanker vessel visits to Los Angeles and Long Beach and for roll-on/roll-off (ro-ro) vessel visits statewide. To ensure these fleets and terminal operators were ready for the regulations, CARB issued VIEs and TIEs via email prior to December 31…

Freight rates for Russian ESPO Blend oil loading from the Far Eastern port of Kozmino have jumped fivefold amid a lack of vessels after fresh U.S. sanctions cut availability of tankers, three traders said and data showed.Higher freight costs cut Russian oil sellers' revenues that are already under pressure from U.S. sanctions and complicated logistics, while a lack of vessels in the region during the winter season may lead to loading disruptions, traders said.On Jan. 10 the U.S.

“In 2024, new crude oil tanker deliveries dropped to a 36-year low as only 17 new tankers, with a capacity of 2.5m deadweight tonnes (DWT), joined the fleet. Compared to 2023, the capacity delivered dropped by 74%,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.During the year, the recycling of crude tankers increased to 1.7m DWT wherefore the fleet ended only 0.2% larger in 2024 than at the end of 2023, the slowest growth in 23 years.The Aframax and Suezmax segments saw capacity growth of 0.5% and 1.1% respectively.

Abu Dhabi National Oil Company's logistics arm has transferred its tankers to Navig8 after it bought 80% of the firm for more than $1 billion and will cut part of its workforce, the state oil giant said in a statement.ADNOC Logistics & Services, which raised nearly $770 million in an initial public offering in 2023, said in June it was buying Singapore-headquartered Navig8 as part of its growth strategy.ADNOC has listed several of its units in recent years and pursued a string of deals to expand in nearly every part of its business, including in chemicals and natural gas.Transferring its comme

The Protected Transfer System (PTX) jointly developed by Safe STS and Gall Thomson represents a significant advancement in the safe handling of crude oil transfer at sea which has already been successfully integrated into hundreds of offshore ship-to-ship (STS) operations and mandated by a growing number of jurisdictions and oil majors.STS operations have the potential for spills and physical risk to personnel during transfer as well as damage to the transfer equipment itself.

James Fisher and Sons has ordered four new LNG dual-fuel tankers from China Merchants Jinling Shipyard (Yangzhou) Dingheng as part of its ‘fleet of the future’ business strategy.The new tankers, which will carry oil products and IMO Class II chemicals, will have LNG dual-fuel propulsion capability, expected to help to reduce operational CO2 emissions and associated environmental impact over the long-term.A number of features that will add to the overall sustainability of the new builds have been carried over from recent additions to the company’s fleet…

A report from Windward indicates that new methods of illicit activity, including underwater infrastructure damage and the emergence of new convenience flags, complicated the global trading landscape in the last quarter of 2024.The Q4/2024 Windward Trade Patterns & Risk Insights Report suggests there is a behavioral pattern related to the suggested sabotage of undersea critical infrastructure cables in the Baltic region, for which the monthly average increased by 29% in 2024 compared to 2023.A suggested sabotage pattern includes visits to the Russian Baltic Sea…