Global shippers of crude and fuels are grappling with a spike in booking costs for some tankers taking lengthy diversions to avoid disruptions at the Suez and Panama canals. Chartering costs for a so-called Suezmax, the largest class of oil …
Searing temperatures from Texas to Tokyo over the summer are the latest reminder of a growing headache for the energy system, as extreme heat becomes a threat to fuel supply. In addition to causing spikes in electricity demand as people …
A top buyer of Russian oil is bracing for trading trouble as the price of Urals, the country’s main export grade, breaks through a $60-a-barrel cap set by Western nations to curb Moscow’s revenue. India and China have been the …
An armada of tankers ferrying sanctioned oil around the globe is starting to get younger, bucking a months-long trend of using the world’s oldest and most dangerous vessels. Shortly after President Vladimir Putin’s invasion of Ukraine early last year, hundreds …
A handful of shipowners still willing to transport Russian crude are reaping big rewards on at least one route as others shun the trade. Shippers can earn around $1.6 million hauling Russian ESPO oil on a small tanker from the …
A logistically risky and costly transfer of crude between tankers at sea highlights the steps at least one Chinese buyer is willing to take to ensure the smooth flow of oil from eastern Russia to Asia. Buyers are using creative …
Reports alleging that fuel tankers appeared to breach U.S. sanctions against Iran were cited in court filings by a bank as it sought to seize the ships, accusing the owners of loan default. The accusations, which led to the the …
