#crude-oil-transport
(12 articles)IOC to Own Crude Oil and LPG Carriers Amid West Asia Crisis
Indian Oil Corporation is pursuing a strategic shift toward vessel ownership of crude oil and LPG carriers in response to escalating freight costs and geopolitical disruptions in West Asia. The compan
Noatum Maritime Expands Tanker Fleet to Boost Global Energy Capacity
Noatum Maritime, operating as part of AD Ports Group's Maritime and Shipping Cluster, has expanded its tanker fleet with six new vessels over the past 12 months, including two VLCCs, two LR1 tankers,
Russian Oil Tanker Rates Hit Records Amid Black Sea Disruptions
Freight rates for Russian crude oil have reached record highs as tanker availability tightens and Black Sea geopolitical risks persist. The confluence of limited vessel capacity and regional shipping
COSCO Energy Reports 171% Profit Surge on Record VLCC Rates
COSCO SHIPPING Energy Transportation reported a substantial 171.90% increase in nine-month attributable profit to RMB7.389 billion, primarily driven by record-high VLCC (very large crude carrier) rate
Bahri Posts 891% Profit Surge on VLCC Rate Spike Amid Maritime Disruptions
Bahri, a Saudi Arabia-based shipping company, reported a dramatic 891% year-on-year profit increase in Q3 2024, driven primarily by elevated VLCC (very large crude carrier) freight rates resulting fro
300+ trucks stranded at Assam-WB border amid GST compliance row
More than 300 trucks remain stranded at the Assam-West Bengal border in a detention crisis that threatens regional supply chains and industrial production schedules. The Andhra Pradesh Lorry Owners' A
Russian Oil Tanker Rates Hit $30M as Black Sea Risks Soar
Shipping costs for Russian Urals crude to Asian markets have climbed to unprecedented levels, with Suezmax tanker voyages from the Black Sea to India now commanding $27-30 million per one-way trip, up
Oil Supply Crisis Shifts: Logistics Now the Real Constraint
The oil industry faces a new constraint: logistics capacity rather than production capacity. While crude oil supply remains adequate, transportation and logistical infrastructure cannot efficiently mo
Oil's Real Crisis: Logistics Infrastructure Strain, Not Supply Shortage
The global oil industry confronts a structural constraint that diverges from traditional supply-side narratives. While crude production capacity remains adequate, the infrastructure required to transp
Aramco CEO warns global oil buffer at critical low due to Hormuz risks
Saudi Aramco CEO Amin Nasser has publicly flagged that the global oil supply buffer has become critically thin due to disruptions affecting the Strait of Hormuz, one of the world's most critical energ
Canadian Oil Reroutes Away from California Amid Freight Surge
Canadian crude oil producers are routing shipments away from traditional California stops as freight transportation demand surges across North America. This routing shift reflects broader adjustments
Reliance Pays Record Tanker Rates for Iraqi Crude Lift
Reliance Industries has secured a supertanker to transport crude oil from Iraq at unprecedented freight rates, reflecting tightening tanker capacity and elevated energy logistics costs in the current