The Business Times

oil tankers

Global Enterprise

Japanese gas tanker giant Mitsui OSK sees difficulty buying Chinese vessels

An undated photo of a VLCC (Very Large Crude Carrier) manufactured by the Universal Shipbuilding Corporation sailing off the coast of Japan. Source: Universal Shipbuilding Corporation via Bloomberg News.
Transport & Logistics

Oil shipping rates surge after US sanctions tighten global fleet

Shandong Port oversees major ports on China’s east coast including Qingdao, Rizhao and Yantai, which are major terminals for importing sanctioned oil.
Transport & Logistics

China’s Shandong Port, entry point for most sanctioned oil, bans US-designated vessels

The cleaning works at Pengerang waters, which started last Friday (June 21) morning, are scheduled to be completed by Saturday (June 29).
ASEAN Business

Over 180 Malaysia fishermen hit by Singapore oil spill; losses estimated at RM480,000

A British navy maritime security agency said armed men boarded the Greek-owned, Marshall Islands-flagged St Nikolas off Oman and changed course towards Bandar-e Jask in Iran.
Transport & Logistics

Iran seizes oil tanker off Oman in dispute with US

Cargo ships wait at the entrance of the Panama Canal at Panama Bay off Panama City, on September 24, 2023. The Panama Canal Authority is continuing to restrict the number of vessels that pass through the Panama Canal locks as drought has caused water levels at Gatun Lake to drop. The locks depend on millions of gallons of fresh water from the manmade lake to fill locks in Panama City and Colon in order to transit shipping vessels from the Pacific Ocean to the Caribbean Sea. (Photo by Luis ACOSTA / AFP)
International

Shipping costs soar as war, climate risks choke key waterways

War risk premium gets added to regular tanker insurance expenses following the commencement of Russia's military action in Ukraine.
International

Insurers raise premiums for Black Sea tankers as tensions mount

Opening remarks for the cases were delivered at the High Court of Singapore by the lawyers of both parties, with Justice Philip Jeyaretnam presiding over the cases. 
Singapore
OK LIM SAGA

Hin Leong liquidators, top creditor HSBC sue OK Lim and his kids for US$3.5 billion

The Iranian flagged vessel MT Arman 114 (left) is captured after being spotted in Indonesia’s North Natuna Sea, carrying out a ship-to-ship oil transfer with the Cameroon-flagged MT S Tinos.
ASEAN Business

Indonesia seizes Iranian-flagged tanker suspected of illegal oil transfer

The rise in freight rates come ahead of higher crude demand in Asia in third quarter as refineries complete maintenance and ramp up output to meet peak summer fuel demand.
International

Supertanker freight rates jump as Mideast crude exports to Asia rise

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