Tag: Oil Tanker

Energy, Industry Focus Areas

US Fuel Crisis Sparks Refiners to ‘Smash and Grab’ Tankers

May 11, 2021

Via: Transport Topics

Oil tanker charter rates skyrocketed in the U.S. with refiners scrambling for ships to store fuel that has nowhere to go due to a cyberattack on the country’s main pipeline. Companies such as Marathon Petroleum Corp, Valero Energy Corp and […]

Energy, Industry Focus Areas, Logistics, Process

Oil Tanker Owners Pay to Move Crude in Wake of Supply Cuts

January 20, 2021

Via: Transport Topics

Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s main trade route. Supertankers delivering 2 million-barrel shipments of the kingdom’s oil to China […]