July 14, 2023
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 …
July 13, 2023
Russia’s flagship Urals crude oil breached a price cap set by the Group of Seven, a blow to western sanctions efforts and arguably an economic win for Moscow. According to price reporting agency Argus Media, Urals crude topped $60 a …
July 11, 2023
Indonesia’s coast guard said on Tuesday it seized an Iranian-flagged supertanker suspected of involvement in the illegal transshipment of crude oil, and vowed to toughen maritime patrols. The MT Arman 114 was carrying 272,569 metric tons of light crude oil, …
July 11, 2023
A fleet of tankers that sprouted up out of nowhere to keep Russia’s oil moving has disbanded even faster than it emerged, underscoring the challenges involved in keeping track of who’s helping Moscow to get its petroleum to buyers around …
July 3, 2023
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 …
June 1, 2023
Singapore’s detentions of oil and chemicals tankers have surged since early last year, highlighting growing concerns over the environmental and safety impact of an expanding fleet of aging vessels plying major shipping lanes. The city-state has held 33 ships for …
May 31, 2023
A giant oil tanker that was detained in China failed its safety inspection on more than 20 counts, spotlighting the dangers posed by a rapidly expanding fleet of aging vessels sailing the world’s oceans. The ship, currently called the Titan …
May 8, 2023
Off the coast of Malaysia, in one of the world’s busiest shipping channels, an explosion on board the aging oil tanker Pablo ripped off its deck like a sardine can and began a fire that sent dark plumes of smoke …
May 2, 2023
Three crew members are missing from a Gabon-registered tanker that caught fire on Monday in the South China Sea, a Malaysian maritime enforcement agency official said on Tuesday. The Pablo, an Aframax-class crude oil tanker whose insurers are unknown, was …
April 27, 2023
A rise in spot prices for Russian crude oil to above the $60 per barrel cap imposed by western powers has made ship insurers even more nervous of running foul of the rules as they are unable to independently track …