Tag: oil

According to Reuters, while traders said the Israel-Hamas war did not seem to pose a short-term danger to oil supply, anticipation that the U.S. and Venezuela would soon achieve a deal relaxing restrictions on Venezuelan crude exports caused oil futures to fall more than $1 a barrel.

In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, looks at China's crude inventory expansion during the first three quarters of 2023, which is estimated at 0.7 million barrels per day. These increased inventories could allow China to maintain strong exports of refined products even if crude oil imports are lowered. 

A cargo of Iranian crude oil that was seized by the United States, for transporting Iranian oil, was sailing to the Bahamas on 20th September, with a new name, ship tracking data reflected.

According to the Calcutta High Court, a crude oil tanker that flies the Liberian flag will pay Rs. 88 crores for damaging Haldia oil jetty or it will face arrest.

According to EIA, record volumes of crude oil were imported into China during the first half of 2023 because of refinery expansions in the country and initiatives to reopen the economy after the government eased COVID-19 mobility restrictions.

In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, looks at the jump in US dirty tanker export demand during the first eight months of the year.

Avance Gas Holding announced that it has declared the option of the two mid-sized LPG/ammonia carriers (MGCs) from Nantong CIMC Sinopacific Offshore & Engineering Co, announced in June 2023.

In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, looks at the decline in Russian seaborne crude oil export volumes which may continue to fall as Russia implements export cuts in August.

On 21st July, Iran denied the ownership of oil tanker Arman 114 (IMO 9116412), which was seized by Indonesia on July 11th.

Today, Indonesia’s coast guard seized an Iranian-flagged very large crude carrier suspected of involvement in the illegal transshipment of crude oil.