Vietnam has been in talks with Iranian authorities over the seizure last month of a Vietnamese oil tanker off the Iranian coast, in an effort to guarantee the safety of the crew, the Southeast Asian nation's said on Thursday.Talks had taken place on a diplomatic level in Hanoi and Tehran "to verify information and settle the incident to ensure safety and humane treatment for Vietnamese citizens
Food traders are switching from containers back to dry bulk vessels to transport refined sugar and rice, hoping to avoid shipping delays caused by container shortages and port congestion that the industry is calling "containergeddon", according to traders.Container-based transportation has been hit by sky-high costs and delays amid booming shipping demand
Tanker rates to ship liquefied natural gas (LNG) have more than doubled since the start of the month as a power crisis in Asia and Europe drives up demand for vessels, industry sources said on Tuesday.The daily charter rate for a tri-fuel diesel-electric (TFDE) vessel that can carry 160,000 cubic meters of LNG to Pacific basin ports rose to $202,500 a day on Tuesday, the highest since Jan.
Singapore-based oil trader Winson Group denied on Tuesday a U.N. Security Council report alleging that it supplied fuel to North Korea in breach of international sanctions."Winson denies, in the strongest possible terms, any and all allegations and/or insinuations that it knowingly facilitated the illicit supply of oil to North Korea in breach of any United Nations Security Council resolutions
U.S. oil major ExxonMobil has made another oil discovery at the prolific Stabroek offshore block in Guyana. This adds to around nine billion barrels of oil equivalent discovered over the past few years and paves way for future development.The discovery was made at Whiptail-1 well at the 6.6 million acres (26,800 square kilometers) offshore block.
Indonesia's state oil company Pertamina's new unit, Pertamina International Shipping (PIS), is looking to spend $4 billion in the next seven years to refurbish its fleet of vessels and upgrade terminals, a top official said on Friday.The new unit plans to replace 23 vessels and expand its fleet
Deutsche Bank is on course to make up to $1 billion on a long-shot bet on Israeli shipping firm Zim after it surged in value on the back of record-high global freight rates, Bloomberg reported on Tuesday.Citing unnamed sources familiar with the matter, the report said that Mark Spehn, a distressed debt trader at the German bank
Traders provisionally booked at least six tankers to ship gasoline from Europe to U.S. destinations following a cyber attack that shut the United States' top fuel pipeline network, Refinitiv Eikon data showed on Monday.The attack forced the Colonial Pipeline to shut down its entire system on Friday, stoking expectations of gasoline shortages along the U.S. East Coast.
Three Chinese vessels, one with a manned submersible capable of descending to 10,000 meters (32,800 ft), have arrived in Indonesian waters to help retrieve a submarine that sank and broke apart last month, killing 53 on board, an official said.Indonesian navy officials and experts have acknowledged how difficult the salvage operation will be to recover the Nanggala-402 submarine lying on the sea
Chinese officials were waiting for better weather before deciding whether to siphon off the remaining cargo from a stricken tanker after hundreds of tonnes of oil spilled into the Yellow Sea after a collision in dense fog two days ago.The size of the spill from the Liberia-flagged tanker A Symphony was revised down to about 400 tonnes (2,920 barrels) on Thursday
Congestion delaying LNG shipments via the Panama Canal is expected to last through the peak demand winter months, traders close to the situation said, although the canal's regulator said it had made changes to speed up transit.The price of liquefied natural gas (LNG) and shipping rates have hit record highs because of the bottleneck, supply constraints and heavy demand from Asia
Freezing temperatures across Asia and Europe are driving liquefied natural gas (LNG) prices to record highs and pushing up the cost of shipping the fuel globally as buyers grapple with tight inventories and a shortage of tankers.Demand for super-cooled natural gas has surged in recent years as buyers, particularly China and India, move away from dirtier coal-polluting power plants.