Tankers News

 

Brent's Fall Creates Steepest Contango in 11 Years

Mar 26, 2020

The discount on front-month Brent crude oil futures to later contracts increased to an 11 year high on Thursday, as the coronavirus pandemic continued to cause an unprecedented slump in global demand. The spread on the May to November contracts had widened to as much as minus $10.31 per barrel at 1004 GMT, a level not seen since January 2009. The so-called contango market structure implies traders expect oil prices to be higher in the future…

Wärtsilä to Equip KNOT's New Shuttle Tankers

Jun 08, 2020

Wärtsilä said it secured an order to supply its emissions abating volatile organic compounds (VOC) recovery system, together with an liquefied natural gas (LNG) fuel gas supply system, for two new 124,000 DWT shuttle tankersordered by Knutsen NYK Offshore Tankers (KNOT)…

Qatar Petroleum in 'Largest LNG Shipbuilding Deal in History'

Jun 01, 2020

Qatari state-owned oil and gas company Qatar Petroleum has entered into what it says 'are the largest LNG shipbuilding agreements in history to secure more than 100 ships valued in excess of QR 70 billion [USD19,2 billion] to cater for its LNG growth plans…

China, India Soak Up Oil from Floating Storage as Demand Picks Up

May 28, 2020

The volume of crude stored on ships in Asia has come off the peaks seen earlier this month on a recovery in demand in China and India, trade sources and analysts said. A total of 3.4 million tonnes (24.8 million barrels) of crude oil was discharged…

Record Oil Output Cuts Fail to Make Waves in Coronavirus-hit Market

Apr 14, 2020

The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as the coronavirus shreds demand and sends stockpiles soaring, industry watchers said…

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…

Petrobras Charters AET Shuttle Tanker Trio for $525.6M

Feb 06, 2020

Tanker operator AET has won a long-term deal with the Brazilian oil company Petrobras for the charter of three shuttle tankers that will offload oil from Petrobras' offshore oil platforms and FPSOs.AET said Thursday the long-term charters would…

Iranian Tanker Hit by Missiles, Oil Rises

Oct 11, 2019

Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants…

Baker Hughes: U.S. Cuts Rigs for Fifth Straight Week

Aug 02, 2019

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…

Oil Prices Jump 2% After Tanker Attacks

Jun 13, 2019

Oil prices settled 2.2% higher on Thursday after attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude trade flows through one of the world's key shipping routes.The attacks near Iran and the Strait of Hormuz reignited…

Statfjord Loadings Resume After Leak

May 20, 2019

Equinor has resumed crude oil loadings from its Statfjord field in the North Sea following a spill last week, the Norwegian oil and gas company said on Monday.Production from Statfjord remains unaffected, and the offloading of crude is now taking place from an alternative buoy on the field…

Statfjord Loading Still Shut After Spill -Equinor

May 16, 2019

Equinor has still not identified the source of an oil spill at its Statfjord field in the North Sea, and the loading of crude onto tankers remains shut, the Norwegian company told Reuters on Thursday.The leakage consisted of 'small observations' of oil on the surface of the ocean…

Oil Spill at Statfjord

May 15, 2019

An unspecified amount of oil was observed on the sea surface early Wednesday morning in connection with loading oil from buoy to shuttle tanker on the North Sea Statfjord field, Equinor announced.The loading operations were stopped when this was discovered…

Ichthys Ramps Up Output

Apr 29, 2019

A tanker carrying liquefied natural gas (LNG) has been floating off Australian waters for nearly two weeks as production at Ichthys project ramps up, industry sources told Reuters.The tanker 'Symphonic Breeze' has been moored at Darwin anchorage…

Oil Slips Below $62 as U.S. Inventories Rise

Feb 06, 2019

API reports increase in U.S. crude stocks; Venezuela sanctions yet to spark rally but still supportive.Oil fell below $62 a barrel on Wednesday after a report showed a rise in U.S. crude inventories, countering expectations of a tightening market in 2019 because of OPEC-led supply cuts and U…

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