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Tankers & Gas
US seizes Iranian gasoline on Greek-owned tankers
Unverified reports that cargoes were shifted through ship-to-ship transfers from the four original tankers into two other vessels bound for Houston
LNG sails for an unprofitable summer
The unprofitable conditions are expected to continue until October or November, when the seasonal rise because of the northern hemisphere winter is expected to lift rates
Cosco sets up tanker unit in Hainan to support national strategy
CSET says the arrangement is an important step for the company in implementing the national maritime strategy to turn Hainan into a large free trade port
TEN orders up to three suezmax shuttle tankers
The move will double TEN’s presence in the shuttle tanker sector. This is a niche area within the shipping industry with very high barriers to entry, which can help to boost profits
Vitol to run bunker operation for major Caribbean terminal
Prostar earlier this year announced it was investing $100m for storage tank upgrades at the terminal
Stranded Cosco VLCC waits for rescue off South Africa
Vessel had no cargo on board when the incident occurred
Asia-Pacific oil products demand expected to fall
Oil products demand in Asia-Pacific is expected to fall by 1.8m barrels per day year on year in 2020, according to consulting firm Wood Mackenzie
Hafnia seeks dialogue after Ardmore rejects ‘takeunder’
The two companies’ chief executives open up on the failed merger attempt that would have created the world’s large product tanker operator
US acts to seize cargoes on four Venezuela-bound Iranian tankers
The four vessels have turned off their identification systems since May and their whereabouts are unknown, but it is unclear how they might be seized unless they enter US territorial waters
Stolt-Nielsen prepares for tougher times ahead
The company increased contract coverage at better rates to protect its revenue base
Jiangnan Shipyard clinches VLGC trio from AW Shipping
AW Shipping is a joint venture between China’s Wanhua Chemical Group and Abu Dhabi National Oil Co
Qatar’s LNG shipping arm boosts profit
Doha-based Nakilat says there have been no disruptions to its business despite the ‘ongoing challenges’ of the coronavirus pandemic
VLGC supply-demand pressure seen continuing
Poten expects to see significant increase in global seaborne supply of LPG with total exports at slightly above 111m tonnes in 2020 and less than 113m tonnes in 2021
China adds plants to fuel LPG recovery
Dorian expects 20 planned projects to add around 11.9m tonnes per annum of LPG demand through 2023
LNG shipping demand up in the air as traders enter market
Many inquiries have come in for winter shipping requirements but charterers want shorter tenors than what shipowners desire, says Poten & Partners
Japan launches first LNG-VLSFO bunker tanker
Tanker is owned by a joint venture of Sumitomo Corp, Yokohama-Kawasaki International Port Corp and Uyeno Transtech
Greece move prompts GasLog Partners leadership change
Savings expected to be about $3m annually from a reduction in overheads at the partnership come in addition to an estimated $6m yearly that has already been carved off the costs of GasLog Ltd
Pandemic overhang clouds LNG uptick in second half
The threat of a second coronavirus wave has dampened LNG demand and depressed prices to persistently low levels, which is not supporting ramp-ups at liquefaction plants
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