Shipowners are struggling to know what trades are still legal as a raft of sanctions against Russia and tough measures on other countries including Iran remain confusing, leading Greek shipowner George Procopiou said on Monday.Sanctions imposed on Moscow after it invaded Ukraine in February, including a U.S.
Russian fuel oil arrivals offshore Greece jumped to record levels in April, as sanctions on Moscow drive traders to find new ways to export Russian oil via ship-to-ship (STS) loadings, Refinitiv Eikon data showed and sources said.Trading Russian crude and oil products remains legal for now as the European Union is yet to fully agree on a proposed embargo
Despite concern that sanctions against Russia would cause a shortfall of fertilizer in Brazil, preliminary shipping data shows orders being fulfilled and vessels heading for Brazil, potentially allowing a normal grain planting season.At least 24 vessels carrying almost 678,000 tonnes of Russian fertilizers from ports in the country are expected to reach Brazil in the next weeks
Tanker operator TOP Ships said Wednesday it had taken delivery of the "very high specification" scrubber fitted, 300,000 dwt newbuilding Very Large Crude Oil Carrier (VLCC) vessel M/T Legio X Equestris.Built at the Hyundai Heavy Industries shipyard in South Korea, the vessel is gearing up to start its previously announced time charter in a few days.The charter is with an unnamed major oil trader.
Oil benchmarks are hitting multiple price and spread milestones across several key markets as the fallout from severe sanctions on key exporter Russia sows confusion and panic among global crude oil traders, shipping firms and importers.The oil industry has been gripped by acute risk aversion in the finance and shipping sectors after several nations including the United States sanctioned
Oil tanker rates are soaring globally as traders scramble to cope with jitters over possible disruption in Russian supplies, as well as war risk premiums for ships plying the Mediterranean region following Moscow's invasion of Ukraine.Shipowners are also grappling with higher fuel costs after oil prices soared nearly $2 per barrel on Friday, with Brent back above $100.
Ukraine's military has suspended commercial shipping at its ports after Russian forces invaded the country, an adviser to the Ukrainian president's chief of staff said, stoking fear of supply disruption from the leading grain and oilseeds exporters.Russia earlier suspended the movement of commercial vessels in the Azov Sea until further notice
An oil vessel used for storage that exploded off the coast of Nigeria last week had not been maintained for some time and had technical issues, two sources and an environmental group said on Friday, as its wreckage lay in the sea after the fire was put out.The 10 crew members who were on board at the time of the explosion early on Wednesday remained unaccounted for, according to witnesses
Shipowner Costamare Inc. announced it has ordered eight newbuild containerships and acquired seven secondhand bulk carriers.The Monaco-headquartered company said Thursday it signed contracts with an unspecified Asian shipyard for two 13,000 TEU capacity newbuilds and exercised options under a previous agreement for two more of the same capacity plus four additional 15,000 TEU capacity vessels.
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