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

VLCC spot earnings $500 a day on slow steaming, non scrubber basis, Gibsons says

(Jul 23 2021)

Gibson Shipbrokers Weekly Tanker Market Report - Why So Weak?

Oil traders keep North Sea crude on tankers despite rally to $72

(Jun 15 2021)

Tankers are holding several million barrels of oil in the North Sea in what is normally a strongly bearish indicator.

Massive oil tanker blocks Bosphorus after steering controls reportedly malfunction

(Jun 03 2021)

Technical problems onboard a 249-meter-long oil tanker have led to a temporary suspension of traffic in the Bosphorus, conjuring uneasy memories of the Suez Canal blockage earlier this year.

Poten's Weekly Opinion: No Quick Fix

(May 20 2021)

The tanker market is out of balance.

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.