Traders have rebranded more than $1 billion of Venezuelan oil shipments to China as Brazilian crude over the past year, according to two tanker tracking firms, company documents and four traders, helping buyers to cut logistics costs and circumvent U.S. sanctions.Independent refiners in China are the main buyers of seaborne oil shipments from countries sanctioned by the United States
Russia's oil pipeline monopoly Transneft has cut crude intake into its system by some 250,000 barrels per day after a Ukrainian drone attack on its Kaleykino pumping station on Monday, two sources familiar with the situation said on Tuesday.The cuts mostly affected shipments from Tatarstan producer Tatneft, one of the sources said.
On Yonges Island, South Carolina, just up the Wadmalaw River from Charleston, the fourth-generation maritime company Stevens Towing Company continues to rewrite its own history. Long known for its towing and barge work, its ship repair business is growing at light speed, transforming what began decades ago as an internal maintenance yard into a dynamic commercial shipyard serving tugs, barges
Dutch and German oil refineries have snapped up all four cargoes of Chadian Doba crude in April to profit from soaring demand for cleaner marine fuel in Europe from shipping companies including Maersk, according to shipping data and trade sources.Asia was the main destination of Doba cargoes prior to April, as China and Malaysia received several cargoes, according to Kpler.