Saturday, December 9, 2023

Oil

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Oil

China crude oil imports post first year-on-year decline since April

China’s crude oil imports in November fell 9.2% year-on-year, customs data showed on Thursday, in the first annual decline since April as high inventory...

OPEC+ Agrees on Deeper Output Cuts to Avoid Renewed Surplus

OPEC+ agreed to make 1 million barrels a day of additional oil-supply cuts to go alongside Saudi Arabia’s much-anticipated extension of its voluntary reduction...

Shell Sues Greenpeace for $2.1 Million Over High Seas Boarding

Shell is suing Greenpeace for $2.1 million in damages after the environmental group’s activists boarded the company’s oil production vessel in transit at sea...

Argentina’s Massa Threatens to Cut Fuel Exports Amid Shortage

Argentina’s oil producers will be barred from exports unless they increase fuel supplies to address shortages in the country, Economy Minister and presidential candidate...

OPEC+ members send less oil to U.S., adding to tight supply outlook

U.S. waterborne imports of crude from OPEC+ members including Saudi Arabia have dropped steadily over the last year, further tightening supplies in the U.S....

World’s ghost fleet in focus over US Russian price cap crackdown

U.S. penalties on shippers transporting Russian oil in breach of the G7’s price cap could push more Russian cargoes onto vessels referred to as...

Chevron to buy Hess Corp for $53 billion in all-stock deal

Chevron Corp agreed to buy Hess for $53 billion in stock to gain a bigger U.S. oil footprint and a large stake in rival...

Russia’s western sea port oil exports seen falling as refinery runs rise – sources

Russia’s oil exports via its western sea ports in November may fall by some 300,000 barrels per day (bpd) after ample supplies in September-October...

Oil falls more than $1 a barrel on Venezuela deal hopes

Oil futures fell more than $1 a barrel on Monday as expectations rose the U.S. and Venezuela could soon reach a deal easing sanctions...

Oil Freight Has Surged Everywhere Since Hamas Attacked Israel

The cost of transporting oil has surged on almost every mainstream trade route in the week since Hamas attacked Israel. Freight rates on 16 global...

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Global Ship Lease Announces CEO Transition

Global Ship Lease has announced that Ian Webber, its Chief Executive Officer, has chosen to retire from the CEO role he has held since...

Awilco LNG refinances ships in leasback deal

Awilco LNG announcde that a term sheet for refinancing of the Company’s two 2013-built 156,000 cbm TFDEs WilForce and WilPride has been agreed and...

George Economou acquires 5% stake in Seanergy

According to a relevant SEC filing, George Economou has acquired a stake in Seanergy Maritime. Specifically, the filing shows Sphinx, a subsidiary of Maryport Navigation,...

Frontline Reports $107.7 Million Profit in Q3

Frontline reported unaudited results for the nine months ended September 30, 2023: Highlights Profit of $107.7 million, or $0.48 per basic and diluted share for the...

Euronav: Dividend Distribution For Q3 2023 & Business Update

Euronav NV provides a business and dividend update following the recent board and management changes. The Supervisory board has agreed to distribute USD 0.57 per...

Maersk to deploy first large methanol-enabled vessel on Asia – Europe trade lane

Maersk is about to launch the first of its 18 large methanol-enabled vessels currently...

Baltic index extends losses on lower vessel demand

The Baltic Exchange’s dry bulk sea freight index, tracking rates for ships carrying dry...

IMO Adopts Tougher Resolution to Tackle ‘Shadow’ Tanker Fleet

The United Nations’ shipping agency on Wednesday adopted a resolution targeting illicit shipping practices...

Weaker vessel rates push Baltic index lower

The Baltic Exchange’s dry bulk sea freight index, tracking rates for ships carrying dry...

Panama Chaos Grows as US Diesel Shippers Bypass Canal

The worsening bottlenecks at the drought-stricken Panama Canal are pushing at least one US...

Clasquin: Exclusive Negotiations With SAS, Subsidiary of MSC

Mr. Yves REVOL and OLYMP, controlling shareholders of Clasquin SA (Paris:ALCLA), announced that they have entered into exclusive negotiations with SAS Shipping Agencies Services...

Port Houston Breaks Export Record

October was the biggest month ever for loaded exports at Port Houston, up 6% compared to last October. Port Houston’s loaded exports are up...

Port of Piraeus working on first shore power connection slots for 2024

The Piraeus Port Authority (PPA), which manages the largest and busiest port in Greece, announced the first five shore power connection slots for ferry...

Two major US cruise operators interested in buying Lavrio port

The tender for the concession of Lavrio port is set to begin in the next few weeks. Sources tell Kathimerini there are at least two...

Biden Administration Invests Over $650 mln in US Ports to Strengthen Supply Chains

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced over $653 million to fund 41 port improvement projects across the nation under the Port...