Chinese ports are struggling to unload record volumes of crude with storage tanks full after the country rushed to buy extra barrels during April's oil price crash, according to traders and shipping data seen by Reuters.More than 80 million…
Tens of millions of barrels of crude and oil products stored on tankers at sea due to the coronavirus crisis are being sold, in a sign fuel demand is recovering as lockdowns ease, shipping sources say.Fuel demand tumbled as much 30% from March to May…
Hudong-Zhonghua Shipbuilding Co, a unit of China State Shipbuilding Corp, has signed contract to construct three liquefied natural gas (LNG) carriers worth 3.9 billion yuan ($551.62 million), reported the state-backed Jiefang Daily on Tuesday…
China's crude oil imports from Saudi Arabia nearly doubled in May from a year earlier to all-time high as refineries snapped up cheap fuel, while the kingdom retained its position as the top supplier to the world's biggest oil buyer.Arrivals from Saudi last month reached 9…
Two of six tankers used to store gasoline in Asia have arrived in Indonesia, with shipments into Asia's largest petrol importer expected to rise this month versus May as Pertamina replenishes stocks, according to industry sources and Refinitiv shipping data…
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…
Iran will continue fuel shipments to Venezuela if Caracas requests more supplies, the Iranian Foreign Ministry spokesman said on Monday, despite Washington's criticism of the trade between the two nations, which are both under U.S. sanctions…
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…
South Korea's shipbuilding giant Hyundai Heavy Industries has secured an order to build two very large crude carriers for unnamed European shipowners.The value of the orders for two 300,000-ton VLCCs, which will be equipped with scrubbers to meet IMO emission regulations…
A rare ethanol shipment of U.S. origin is expected to arrive in China this month, according to three industry sources and shipping data, probably the first such cargo since the two countries struck an initial trade deal in January.The market…
Qatari shipping company Nakilat took delivery of a newbuild liquefied natural gas (LNG) carrier Global Energy. Built by South Korea's Daewoo Shipbuilding & Marine Engineering (DSME), the vessel will be managed in-house by Nakilat and is the…
Shipowner SFL Corporation has agreed to buy a newbuild 308,000 dwt very large crude carrier (VLCC), in combination with a seven-year bareboat charter with an unnamed oil major, adding nearly $60 million to SFL’s fixed-rate charter backlog.The…
Two EY executives in Singapore have been appointed interim judicial managers of Ocean Tankers, the accounting firm said on Tuesday, following a Singapore court hearing to consider the shipping company's request to appoint independent managers…
Greek shipowner GasLog has taken delivery of a newbuild liquefied natural gas (LNG) carrier from Korean shipbuilder Samsung Heavy Industries. The 180,000-cubic-meter-capacity GasLog Wales will operate on a 12-year time charter agreement with the principal LNG shipping entity of Japan’s JERA…
China has issued 28 million tonnes of refined fuel export quotas in the second allotment for this year, little changed from the first batch of 27.99 million tonnes issued last December, according to four sources with knowledge of the matter…
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