Maritime News from gCaptain.com

U.S., China Said to Reach Partial Deal, Could Set Up Trade Truce

News from gCaptain - Fri, 10/11/2019 - 11:45
By Jenny Leonard (Bloomberg) — The U.S. and China reached a partial agreement Friday that would broker a truce in the trade war and lay the groundwork for a broader deal that Presidents Donald Trump and Xi Jinping could sign later this year, according to people familiar with the matter. As part of the deal, […]
Categories: Maritime News

U.S. Sanctions Hit Global Oil Fleet as Traders Shun Nearly 300 Tankers

News from gCaptain - Fri, 10/11/2019 - 09:40
By Marianna Parraga and Roslan Khasawneh MEXICO CITY/SINGAPORE, Oct 11 (Reuters) – Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said. The move has taken roughly 3% of the global oil tanker fleet out of […]
Categories: Maritime News

Asia Oil Buyers Grapple with Rising Costs as Tanker Rates Surge

News from gCaptain - Fri, 10/11/2019 - 09:31
By Nidhi Verma and Chen Aizhu NEW DELHI/SINGAPORE, Oct 11 (Reuters) – Asian oil refiners are grappling with a jump in global freight rates that shows no sign of abating, driving up costs of crude imports from all regions in the fourth quarter, industry officials said. The cost of shipping crude from the Americas, Europe, […]
Categories: Maritime News

LNG Shipping Rates Surging as Vessels Drop Out of Service

News from gCaptain - Fri, 10/11/2019 - 09:24
By Anna Shiryaevskaya and Stephen Stapczynski (Bloomberg) –The cost of chartering a liquefied natural gas vessel on the short-term market has jumped the most since at least 2013. The day rate for a standard tanker East of the Suez Canal jumped 57% in the week to Oct. 9, as issues related to U.S. sanctions on […]
Categories: Maritime News

Iranian Tanker Reportedly Hit by Missiles Off Saudi Coast, Iran Media Reports

News from gCaptain - Fri, 10/11/2019 - 08:21
By Parisa Hafezi and Sylvia Westall DUBAI, Oct 11 (Reuters) – An Iranian-owned oil tanker was struck, probably by missiles, in the Red Sea off Saudi Arabia’s coast on Friday, Iranian media said, an incident that if confirmed will stoke tension in a region rattled by attacks on tankers and oil sites since May. The […]
Categories: Maritime News

Phillips 66 Charters Supertanker for Record $14 Million as Rates Surge

News from gCaptain - Thu, 10/10/2019 - 15:03
NEW YORK, Oct 10 (Reuters) – Phillips 66 tentatively chartered a supertanker to ship U.S. crude from the U.S. Gulf Coast to South Korea for a record $14 million this week, sources said Thursday, as tanker rates continued to soar after U.S. sanctions on units of Chinese giant COSCO. Phillips 66 provisionally chartered the Very […]
Categories: Maritime News

Port of Los Angeles Imports Fall in September as Trade War Roils Shipping

News from gCaptain - Thu, 10/10/2019 - 14:17
LOS ANGELES, Oct 10 (Reuters) – The Port of Los Angeles, the busiest for ocean trade with China, processed fewer containers of imported goods in September as the prolonged U.S.-China trade war whipsaws global supply chains. Imports fell 2.9% to 402,320 TEUs, or 20-foot equivalent units, in September – the first decline at the Port […]
Categories: Maritime News

China’s Unipec Bans Venezuela-Linked Oil Tankers

News from gCaptain - Thu, 10/10/2019 - 13:24
By Devika Krishna Kumar and Collin Eaton NEW YORK/HOUSTON, Oct 10 (Reuters) – China’s Unipec, the trading arm of Asia’s top oil refiner Sinopec, has banned the use of vessels linked to oil flows from Venezuela in the last year, according to sources familiar with the matter and a contract clause seen by Reuters on […]
Categories: Maritime News

Carr: You Have Illegally Disposed of Garbage

News from gCaptain - Thu, 10/10/2019 - 12:14
By Michael Carr – We were all beyond exhausted. Muscle memory and caffeine were keeping us going. And now I was certainly going to jail when all I had wanted to do was wash the sticky, smelly mud from the Gulf of Mexico off our tug’s deck. “Really?” I thought to myself. This guy wearing […]
Categories: Maritime News

Ship Strike Kills Humpback Whale Spotted Swimming in Thames

News from gCaptain - Thu, 10/10/2019 - 10:34
LONDON, Oct 10 (Reuters) – A humpback whale found dead in the River Thames just east of London had likely been struck by a ship, scientists who conducted an autopsy on the animal said on Thursday. The 8-meter long whale, a young female, was sighted swimming in the Thames on Monday, but was found lifeless […]
Categories: Maritime News

U.S. Retail Imports Expected to Surge Ahead of December Tariffs, NRF Says

News from gCaptain - Thu, 10/10/2019 - 10:07
Imports at the nation’s major retail container ports are expected to hit their highest level of the year again next month ahead of new tariffs set to take effect in December, according to the Global Port Tracker report released Wednesday by the National Retail Federation and Hackett Associates. New 15 percent tariffs that took effect […]
Categories: Maritime News

Panama Canal Containership Transits Dip in 2019

News from gCaptain - Thu, 10/10/2019 - 09:28
By Mike Wackett (The Loadstar) – The number of containerships transiting the Panama Canal during its fiscal year ending 30 September declined slightly, by 1.1% to 2,575. But there could be further reductions after ocean carriers announced a number of blanked sailings in the coming weeks on their Asia to US east coast all-water schedules […]
Categories: Maritime News
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