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Wednesday, May 22, 2024

Oil

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Oil

Greece extends naval drills to drive Russia oil tankers away

Greece’s Navy extended a series of exercises aimed at preventing tankers from transferring Russian oil just miles off its coastline. The navy said in a...

Greece extends naval advisory to deter Russian oil ship-to-ship transfers

The Greek navy on Wednesday extended an advisory effectively banning ship traffic off the coast of the southeastern Peloponnese that two sources said was...

Venezuela oil sector braces for loss of US license

Venezuela’s loss of a key U.S. license that allowed it to freely export and increase investment in its oil sector will hit the volume and quality of...

Russian oil and products trapped on tankers hit by new Iran-related sanctions

Russian oil and products have become trapped at sea on four tankers after the United States hit the vessels with fresh Iran-related sanctions, LSEG...

OPEC keeps forecasts for oil demand unchanged

Crude Oil Price Movements In March, the OPEC Reference Basket (ORB) value increased by $2.99, or 3.7%, m-o-m, to average $84.22/b. Oil futures prices averaged...

Saudi Aramco reviewing its production operational plans

Energy firm Saudi Aramco is potentially reviewing operational strategies as the oil giant engages in discussions with drilling companies to suspend its offshore processes...

OPEC+ unlikely to change output policy before June meeting

OPEC+ is unlikely to make any oil output policy changes until a full ministerial gathering in June, three OPEC+ sources told Reuters ahead of...

Russia remains China’s top crude supplier in Jan-Feb

Russia remained China’s top oil supplier in the first two months of this year, data showed on Wednesday, as Saudi supply cuts continued. China’s imports...

Russian Oil Squeeze Tightens as Sovcomflot Admits Difficulties

Russia’s state oil tanker company PJSC Sovcomflot said that US sanctions are putting pressure on its operations, the latest sign that the measures are...

Asian oil demand growth in focus as OPEC+ move carves out supply roadmap

Asian crude buyers are unlikely to face a supply squeeze following extended production cuts by OPEC+ and Russia’s move to slash output by an...

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ZIM reports financial results for the first quarter of 2024; raising full year 2024 guidance

ZIM Integrated Shipping Services, a global container liner shipping company, announcedits consolidated results for the three months ended March 31, 2024. First Quarter 2024 Highlights Net...

Okeanis Eco Tankers – New financings update

Okeanis Eco Tankers announced the following financings update relating to its fleet: On May 20, 2024, we entered into a new $60.0 million senior secured...

Pyxis Tankers announces joint venture agreement to acquire modern dry-bulk vessel, expansion of common share repurchase program & partial redemption of series a cumulative...

Pyxis Tankers, an international shipping company, announced key strategic and financial actions to further enhance its shareholder value. The Company has entered into an agreement...

Mitsui invests in Navigare Capital Partners shipping fund

Mitsui & Co. Alternative Investments Limited has decided to participate in Maritime Investment Fund III K/S (“MIF III”), a maritime investment fund established and...

Scorpio Tankers: $223.6 million prepayment under 2023 credit facility

Scorpio Tankers announced that it has received approval from majority lenders under its 2023 $1.0 Billion Credit Facility to make an unscheduled repayment on...

Damen Shipyards and SAFEEN Group to bring the first electric tug to the Middle...

Damen Shipyards and SAFEEN Group, part of AD Ports Group, have signed an agreement...

Baltic index dips on lower capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Baltic index steady as gains in capesize offset lower rates for smaller vessels

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Houthis strike M/T Wind in Red Sea

At approximately 1 a.m. (Sanaa time) May 18, Iranian-backed Houthis launched one anti-ship ballistic...

Houthis threaten all ships heading to Israel

All ships heading to Israeli ports will be targeted by Yemen’s Iran-backed Houthis and...

Port Houston posts double digit box growth – container volumes up 12 percent through April

Port Houston continues to exceed last year’s container volumes and is up 12% through April with 1,394,094 twenty-foot equivalent units (TEUs). In the month...

Port of Los Angeles cargo rises 12% in April; up 25% in 2024

The docks at the Port of Los Angeles were busy in April, handling 770,337 container units, a 12% increase over the previous year. It...

Baltimore workers to move crashed cargo ship that downed bridge

Workers in Baltimore were preparing to clear a crashed cargo ship nearly as long as the Eiffel Tower from the channel it is blocking,...

The Port of Hamburg begins the year on a positive note

Container throughput improved to 1.9 million TEU in the first quarter of 2024 – despite tense geopolitical and economic conditions. USA traffic continued to...

DP World boosts European trade with €130m investment in Romania

DP World has opened three major new sites in Romania, providing a significant boost to the country’s growing status as a key hub of...