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Oil

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Oil

Asia Buys Near-Record Volumes Of US Crude, Replaces MidEast Oil

Asian refiners have booked near-record volumes of U.S. crude to be shipped in August, replacing Middle Eastern oil, as competitive prices and ample supplies...

Russian crude exports fall to 4-month low

Russian seaborne crude exports fell 10% on the month in June to their lowest levels since February, according to tanker tracking data, as sales...

Oil Giants Drill Deep as Profits Trump Climate Concerns

Oil and gas companies have intensified the hunt for new deposits in a long-term bet on demand, as they reinvest some of the record...

Russia to cut oil exports by 500,000 bpd in August, oil rises

Russia will cut oil exports by 500,000 barrels per day (bpd) in August, President Vladimir Putin’s point man on oil said on Monday, as...

Iran’s oil exports hit 5-year highs as US holds nuclear talks

Iran’s crude exports and oil output have hit new highs in 2023 despite U.S. sanctions, according to consultants, shipping data and a source familiar...

Russian Urals crude freight costs from Baltic to India at 6-month lows- trade

Shipping costs for Russian Urals crude from Baltic ports to India for loadings in July eased to their lowest level in six months amid...

Unipec boosts Oman crude sales, caps oil prices despite Saudi cuts

China’s Unipec, the trading arm of top Asian refiner Sinopec 600028.SS, has emerged as a major seller of August-loading Oman crude this month, a...

Russian Crude Exports Stay High as OPEC+ Partners Call for Clarity

Russian crude oil flows to international markets continue unabated, with no substantive sign of the output cuts that the Kremlin insists the country is...

Saudi Pledges Big Oil Cuts in July

Saudi Arabia will make a deep cut to its output in July on top of a broader OPEC+ deal to limit supply into 2024...

G7 price cap threatens to squeeze tonnage supply in crude tanker market

Brent prices, which surged past the $85 per barrel mark after the voluntary production cut by OPEC+, have dipped below $75 per barrel because...

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Sphinx Investment Corp Increases Stake in OceanPal

On September 28, 2023, an OceanPal SEC filing revealed that Sphinx Investment Corp. had raised its ownership in OceanPal, now holding a substantial stake...

Star Bulk Announces the Repurchase of 10 Million of Its Common Shares

Star Bulk announced that it entered into a Repurchase Agreement (with OCM XL Holdings, LP, a limited partnership incorporated in the Cayman Islands, pursuant...

Trafigura announces executive leadership changes

Trafigura Group Pte Ltd. has announced an evolution of its executive team to further strengthen leadership and focus across its global activities during a...

Woori, HMM, KOBC to buy Polaris in prospective $448 mln deal – report

Polaris Shipping Co. is poised to sell its entire stake at around 600 billion won ($447.5 million) to Woori Private Equity Asset Management Co....

Pyxis Tankers Announces Closing of Ultramax JV Investment

Pyxis Tankers, an international shipping company, reported that on September 14, 2023, the Company closed on its previously announced newly formed drybulk joint venture...

Baltic index snaps 4-day winning streak as capesize rates slip

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

Baltic index scales 11-month peak on strong capesize rates

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

Baltic index scales over 9-month high on capesize surge

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

Baltic index rises to over 4-month high on stronger capesize rates

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

Houston-Japan VLGC freight rates reach multi-year high

VLGC freight rates from Houston to Chiba, Japan, reached $245/mt Sept. 21 for the...

Piraeus Port reports strong H1 2023 results

The Piraeus Port Authority SA, which operates Greece’s biggest and busiest port, reported a 48.8-percent increase in pre-tax earnings for H1 2023 – 49.4...

Greece names Thessaloniki port operator preferred bidder for Volos port

Greece’s privatisation agency has named the operator of Thessaloniki port as the preferred bidder for acquiring a 67% stake in the port of Volos,...

Drewry: Port Throughput Index Down 2.1% in July

The Global Container Port Throughput Index fell 2.1% MoM in July 2023, with the small rises recorded in Africa and Oceania having been insufficient...

Vopak: Agreement with Infracapital on sale of Rotterdam chemical terminals

Vopak announces that it has reached an agreement with Infracapital on the sale of its three chemical terminals in Rotterdam (Botlek, TTR and Chemiehaven)...

Port Hedland Iron Ore Exports Edge Up 4% in August

Pilbara Ports Authority has delivered a total monthly throughput of 62.8 million tonnes (Mt) for August 2023, consistent with the August 2022 throughput. The Port...