Freight rates to ship Russian oil have fallen this month towards parity with those for other global exporters for the first time since 2022 as more tankers were available despite Western sanctions and exports fell, three sources said on Wednesday.Freight rates to ship Russian oil soared to more than $20 million per voyage in 2022 after the West imposed sanctions and a $60 dollar price cap to try
Esgian reports an eventful week with contract confirmations, terminations and suspensions in its Week 18 Rig Analytics Market Roundup.Report SummaryContractsBurullus Gas Company, the self-operated joint venture between Shell Egypt, the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC) and Petronas
Chevron is sending cargoes of Kazakhstan's CPC Blend oil to Asia around Africa's Cape of Good Hope rather than via the Red Sea to avoid the risk of attacks by Yemen’s Houthis, according to three industry sources and LSEG ship-tracking data.The Iranian-aligned Houthis have stepped up attacks on shipping despite U.S.
Russian ports are operating during more severe storms and easing restrictions for non ice-class vessels during winter, traders said and regulations showed, in an attempt to boost exports following disruptions from Western sanctions and harsh weather.Following the European Union oil embargo, Russia has to rely mostly on seaborne loadings
Oil loadings from Russia's Black Sea port of Novorossiisk have resumed after being suspended due to a storm on Dec. 27, two sources familiar with the matter told Reuters on Thursday.The port will likely be able to ship all the crude volumes scheduled for December, as the weather has improved, the sources added.Oil loadings from Russia's Black Sea port of Novorossiisk were suspended on Wednesday.
Chicago Propeller Club celebrated being named International Propeller Club of the Year at its latest event.Guests from across the Great Lakes and Mid West maritime industry gathered for the reception, a Chicago River cruise aboard club sponsor Wendella Cruises vessel the Iris.Club President Chris Carr, managing partner of SBSB Eastham law firm