Canada’s West Vancouver council is preparing to revisit the unanimously approved recommendation to ban LNG tanker traffic in Howe Sound after several councillors said they did not understand the content of the motion they voted on. Craig Cameron, one of the councillors confused by the matter, said he didn’t realize he had voted to send a […]
Greek oil tanker MT Fair Artemis, hijacked by pirates off Ghana’s waters in June this year, has finally berthed at the Takoradi Port to offload oil, according to the Director-General of the Ghana Ports and Harbours Authority (GPHA), Mr. Richard Anamoo. He said the pirates siphoned 3,500 metric tonnes of crude oil from the Liberia-flagged […]
August 11, 2014 | Posted in
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A U.S. Coast Guard helicopter crew evacuated the captain of a tanker approximately 50 miles offshore of Corpus Christi, Texas, Wednesday morning. Watchstanders at the Coast Guard Sector Corpus Christi command center were notified Tuesday at approximately 4:30 p.m. that the 50-year-old captain of the Weser, a 422-foot oil and chemical tanker vessel, was experiencing […]
Crude tanker spot rates in the second quarter of 2014 averaged approximately 20 to 30 percent higher compared to the same period of 2013, reflecting improving tanker market fundamentals and higher fleet utilization compared to the previous year, according to Tanker Investments Ltd. Since the beginning of the third quarter of 2014, Aframax and Suezmax spot […]
Tanker company Overseas Shipholding Group, Inc. (OSG) announced yesterday that it has emerged from Chapter 11 as a newly reorganized company. According to the announcement, OSG emerged with a strong balance sheet, focused strategy and solid customer base. “Today marks the start of a new beginning for our company,” said Captain Bob Johnston, President […]
The Kurdistan Regional Government (KRG) of Iraq asked a U.S. court on Monday to dismiss seizure order of 1 million barrels of disputed crude oil and allow the cargo to be freely delivered in Texas, Reuters reports. The idle United Kalavrvta pending unloading amid cargo ownership dispute has clocked up nine days anchored off […]
The Kiribati-flagged oil tanker MT Hai Soon 6 carrying 21 sailors, which had been hijacked off Ghana a week ago, was released on Sunday in waters off Nigeria, Seoul’s Foreign Ministry said. Besides cargo officer Yeo Eu Loone, 38, there were 12 Chinese, six Myanmar nationals and two Koreans in the crew, according to the Ministry. […]
August 4, 2014 | Posted in
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Chemicals firm LyondellBasell has been revealed by Reuters as the mystery American buyer of Kurdish crude oil this year. “We have canceled further purchases and will not accept delivery of any of the affected crude until the matter is appropriately resolved,” the company told Reuters. The company confirmed that it had purchased modest amounts […]
New York-listed tanker owner Ardmore recorded a net profit of $100,000 for the three months ended June 30, 2014, overturning a loss of $1.2m recorded for the same period last year. Earnings per share of $0.02 trumped Wall Street expectations for a $0.01 per share loss, according to Doug Mavrinac of Jefferies. Anthony Gurnee, […]
August 1, 2014 | Posted in
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The sale and purchase market of secondhand vessels is experiencing positive vibes as summer shoppers avail of the asset prices on the market. According to the latest weekly report from shipbroker Lion Shipbrokers, the week was very active, as 3 panamaxes, 3 supras & 2 handies changed hands. “Almost all of the units have […]
July 30, 2014 | Posted in
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