Oil tankers turn away from Venezuela as more sanctions loom

Jun 11 2020

Oil tankers that were sailing toward Venezuela have turned around and others have left the country’s waters as the United States considers blacklisting dozens of ships for transporting Venezuelan oil.

Reuters

Poor earnings prompt VLCCs to cut costs by idling, slow steaming

(Mar 18 2021)

Weak or negative returns for VLCCs hauling crude from the Persian Gulf to North Asia are prompting shipowners to adopt cost-cutting measures like curtailing sailing speed and idling their ships near Singapore or Sri Lanka’s port of Galle.

Oil demand drag takes toll on tankers, U.S. refiners

(Mar 18 2021)

U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels.

New tanker transforming the Panama Canal bunker industry

(Mar 11 2021)

In a pioneering tanker move, Monjasa enables outer anchorage bunker supplies off Cristobal.

2020: The rise and fall of Floating Storage

(Dec 17 2020)

Floating storage told the story of the extraordinary moves in oil demand and supply in 2020.

Japan extends Middle East mission to protect tankers