Oil prices slid in early Asian trade on Wednesday after touching their lowest in nearly six years the previous session, with analysts predicting further falls as oversupply plagues the market.
Oil tumbled 5 per cent to near six-ye
After a legal show-down in Texas this week, the outlook for a handful of tankers holding some $300 million worth of Kurdish oil is not looking good.
Seemingly unable to find enough buyers willing to take a risk on million-barrel c
Kuwaiti group Agility said its fuel logistics unit Tristar Transport had signed a $200 million charter contract with Royal Dutch Shell for six new tankers.
The seven-year deal has an option for an additional three years, Agility s
Western pressure that forced foreign ship classifiers out of Iran has increased safety risks including the danger of an Iranian vessel spilling oil on another country's coast, the chief executive of Lloyd's Register said.
Pirates have hijacked a Greek-owned oil tanker carrying 135,000 metric tonnes of crude oil while in the Arabian Sea off Oman, the vessel's manager said.
Dynacom Tankers Management said it had lost contact with the crew of the MT Smyrni fol
Virtually every day there is news on how Iran's oil exports to Asia are being squeezed by Western sanctions, but the question that still remains unresolved is just how much pain is Tehran feeling.
The latest sign that Iran may be starting
Suspected militants in Pakistan set fire to more than two dozen tankers carrying fuel for Nato troops in Afghanistan on Friday, officials said, a day after three soldiers were killed in a cross-border Nato air strike.
Angered by repeated i
Kuwait, the world's fourth-largest oil exporter, is in the process of renewing its shipping fleet, a senior official said on Monday.
'We are...changing most of the tankers we have, around 25 ships, said Saad al-Shuwaib, chief execu
The world's fifth-largest oil exporter Iran is storing millions of barrels of crude on tankers as it struggles to sell the product on which it depends, trade sources said on Thursday.
The development comes at a time of seasonally lower
Leading tanker operator Gulf Energy Maritime (GEM) has acquired its 12th vessel, thus marking a 63 per cent completion of its newbuilding acquisitions.
GEM has taken delivery of the first out of six new vessels scheduled for delivery this