The Economics of Storing Oil – How Filling Up Old Tankers Work?
In yet another example of the world economy shell game coming to a hard stop amid the coronavirus pandemic, oil is incredibly cheap as demand plummets and speculators panic sell and even pay others to...
Huge Demand for JA Vessels As Oil Majors Rush To Ship Oil Overseas!
According to a Reuters report, oil traders are hiring expensive U.S. vessels, normally only used for domestic shipments, to store gasoline or ship fuel overseas, five shipping sources said, in a sign of the...
1.3 Billion People But Only 1000 COVID19 Deaths – How Did They Do It!
A nationwide lockdown in India's 1.3 billion population seems to be working because of early imposition and other effective measures.
The blanket ban of flights seemed to have curtailed the numbers.
A low...
A Look at the Global Oil Surfeit in Images!
A pandemic-led demand crunch is causing storage tanks around the world to fill up with oil that no one wants.
Nearly 90% of the globe’s 4.3 billion barrels of crude oil storage is...
Massive Number of Tankers Anchored in Singapore – Are Players At Risk?
Hin Leong Trading and Ocean Tankers filed for bankruptcy protection.
Singapore hosts the largest number of oil tankers at anchor in the world.
Hin Leong owns and operates Universal Terminal, one of the...
[Watch] First Effective Treatment Likely for Covid-19
Fauci says Remdesivir helps patients to recover much faster.
Gilead suggests that Remdesivir could become the first effective treatment for the Covid-19.
Gilead shares jumped as much as 8.1% after the company’s statement.
...
Singapore Regulators Reassures That Bunker Trading Sector Remains Resilient!
MPA, ESG and MAS agencies closely monitor developments related to Hin Leong Trading Pte Ltd and the broader oil trading and bunkering sectors, says a press release published on MPA website.
Developments closely monitored
In response...
Governments Asked To Enhance Seafarers’ Repatriation
Nautilus International urges that crew changes issue becomes a crisis, reports Safety4Sea.
Crew change difficulties
Shipping industry is facing major difficulties in dealing with crew changes due to the COVID-19 pandemic and the related major restrictions.
Needs...
$3 billion Deal Signed for LNG Ship Construction in China
Qatar Petroleum (QP) enters into an agreement to reserve LNG ship construction capacity in China.
It will be utilized for Qatar Petroleum’s future LNG carrier fleet requirements.
It also includes those of its...
Coronavirus Rampant Attack from Brain To Toes
The number of confirmed cases of COVID-19 surges past 2.2 million globally and deaths surpass 150,000.
Clinicians and pathologists struggle to understand the damage wrought by the coronavirus as it tears through the...