PUNTO FIJO –– More than half of the 22 oil tankers in Venezuela’s fleet are so run down that they should be immediately repaired or taken out of service, according to an internal report from state-run oil company PDVSA that …
LONDON –– An oil tanker runs aground off eastern China, leaking fuel into the water. Another is caught in a collision near Cuba. A third is seized in Spain for drifting out of control. These vessels were part of a …
Insurers are about to pay state-owned Bangladesh Shipping Corp. (BSC) $22.48 million for its vessel that was hit by a missile during fighting in Ukraine, two officials involved said on Tuesday. The expected settlement is one of the first shipping …
Insurers are facing half a billion dollars in claims for up to 60 commercial ships still stuck in Ukraine a year after the start of the war with Russia, industry sources said. When the conflict started, more than 90 merchant …
CAIRO (AP) — The world’s biggest shipping company said Monday it sued a rival shipping line in a Danish court, seeking compensation for ship delays that resulted from the blocking of the Suez Canal by a hulking vessel two years …
LONDON –– Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said. The Black Sea is crucial …
OMAHA, Neb. (AP) — Federal regulators and shippers are questioning Union Pacific’s decision to temporarily limit some businesses’ shipments as part of its effort to clear up congestion across the railroad. The head of the U.S. Surface Transportation Board, Martin …
ISTANBUL —Turkey welcomed an agreement reached with its counterparts on Tuesday that allows the continuation of a new regulation requiring crude oil tankers to present an insurance confirmation letter before transiting Turkish straits. The Turkish measures, which came into effect …
ISTANBUL –– Turkey emerged as a critical stumbling block to a complex international plan to deprive Russia of wartime oil revenues as the number of tankers waiting to exit the Black Sea through Turkish straits continued to rise on Friday. …
Western officials are in talks with Turkish counterparts to resolve oil tanker queues off Turkey, a British Treasury official said, after the G7 and European Union rolled out new restrictions on Dec. 5 aimed at Russian oil exports. “The UK, …