2024.08.22
- SLOW
- 2024년 9월 11일
- 3분 분량
[SLOW] https://slowspace.io/ _ MT LIBERTY
Sovcomflot tankers loaded oil at Russian Baltic ports, defying sanctions
Two Sovcomflot tankers, recently sanctioned by European regulators, have managed to load oil at Russian Baltic ports, indicating the shipowner's ability to bypass restrictions. The tankers, Liberty (formerly NS Laguna) and NS Spirit, have undergone changes in name, ownership, and flag registration to continue operations. Despite the sanctions, they successfully loaded oil for delivery to Asia, raising questions about the effectiveness of these measures. The tankers' activities highlight the challenges in enforcing sanctions, particularly given the complex global nature of shipping and finance. The U.S. sanctions are seen as more impactful due to the potential for secondary sanctions.
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Greek oil tanker adrift after multiple Houthi attacks in the Red Sea
The Greek-flagged oil tanker Sounion was left adrift in the Red Sea after suffering multiple attacks by small boats near Yemen's port city of Hodeidah. The attacks, which involved projectiles and small arms fire, caused a fire on board and disabled the vessel's engine, leaving it unable to maneuver. Fortunately, no injuries were reported among the 25 crew members. The attacks are believed to be part of a series of incidents by Iran-aligned Houthi militants targeting international shipping in the region. These assaults have prompted U.S. and British retaliatory strikes and led to disruptions in global trade as vessels are rerouted to avoid the Red Sea.
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Nigeria to sell crude oil in Naira to Dangote refinery starting October
Starting October 1, Nigeria will begin selling crude oil in its local currency, the naira, to the Dangote refinery. This move is intended to reduce the country's foreign exchange pressure and support the refinery, which has struggled to secure enough crude to meet its 650,000-barrel-per-day capacity since beginning operations. Previously, Dangote had to purchase oil internationally and faced challenges due to the lack of enforcement of laws requiring domestic supply. The shift comes amid Nigeria's ongoing dollar shortages, which have led to multiple currency devaluations. However, local oil producers are concerned that selling in naira may reduce their foreign exchange earnings.
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[SLOW] Trade Flow https://slowspace.io/ Norway seaborne crude oil export
Norway urges oil firms to boost exploration to avert sharp production decline
Norway's petroleum industry regulator has urged oil and gas companies to increase exploration and investment to slow the expected decline in the country's production in the coming years. As Europe's largest gas supplier and a major oil producer, Norway's output is projected to peak in 2025 before declining due to the depletion of major offshore fields. Without new discoveries and enhanced recovery from existing fields, production could drop significantly by mid-century. The regulator highlights the need for more aggressive exploration, especially in frontier areas like the Arctic Barents Sea, to mitigate this decline. This call comes amid environmental concerns and the industry's impact on climate change.
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[SLOW] Weekly Clean Tanker Research _ Aframax/LR2 Orderbook
Product tanker orders surge to near record high, driven by major industry players
Product tanker newbuilding orders have surged to their second-highest level on record, driven by companies like Cido Shipping and Union Maritime. In the first seven months of 2024, 194 product tankers with a combined capacity of 13.3 million dwt were contracted, marking a 17% increase compared to last year. This boom in orders, especially from Chinese shipyards, has significantly expanded the global orderbook, which grew 135% in 2023 and has risen another 45% in 2024. Despite short-term declines in tanker rates, the year-to-date earnings remain strong, with expectations of a seasonal demand increase in the fourth quarter.
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