Oil Tankers News

Oil tankers are crossing the Strait of Hormuz and Iran's actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration's position that the war should be over in weeks, not months."Already you're seeing tankers are starting to dribble through the straits, and I think it's a sign of how little Iran has left," he said."We're very optimistic that this is going to be over in the short run…

Ships must coordinate with Iran's navy to pass through the Strait of Hormuz, the country's foreign ministry spokesperson said in comments carried by Mehr news agency on Thursday.Iran will fight on and keep the Strait of Hormuz shut as leverage against the United States and Israel, new Supreme Leader Mojtaba Khamenei said on Thursday in defiant first comments attributed to him since he succeeded his slain father."The security of the Strait of Hormuz is of vital importance to Iran, because the country’s security is tied to the security of the region.

Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters review of tanker tracking data showed.Iran has exported about 13.7 million barrels of crude oil since Israel and the U.S. launched attacks on the country on February 28, according to analysis from TankerTrackers.com, a maritime intelligence company that specializes in tracking the so-called shadow fleet…

The United States issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets roiled by the Iran war.The announcement comes a day after the U.S. Energy Department said that the U.S. would be releasing 172 million barrels of oil from the strategic petroleum reserve in an effort to curb sky-rocketing oil prices in the wake of the war in Iran.That…

Iran's U.N. Ambassador said on Thursday Tehran was not going to close the Strait of Hormuz, but added that it was Iran's right to preserve the security of the key shipping route.Amir Saeid Iravani made his comments to reporters at the United Nations when asked about remarks by new Iranian supreme leader, Mojtaba Khamenei, who said on Thursday that the "lever of blocking the Strait of Hormuz must continue to be used.""We are not going to close the Strait of Hormuz," Iravani said.

Two foreign tankers carrying Iraqi fuel oil were subjected to unidentified attacks inside territorial waters, causing them to catch fire, Iraq's director general of the General Company for Ports Farhan al-Fartousi told Reuters on Wednesday.Iraq evacuated the 25 crew members from the two vessels and fire is still ablaze on both ships, he added.This follows news that three vessels had been hit by unknown projectiles, with one of the strikes leading to a fire onboard a ship which forced most of its crew to evacuate it.Meanwhile…

DHT Holdings has taken delivery of the second VLCC newbuilding from Hanwha Ocean.The vessel is named DHT Addax and is entering the spot market.It is the second in a series of four VLCC newbuildings to be delivered to the company during the first half of 2026.The newbuildings are fully funded and will increase the company’s customer offerings and earnings power.The next newbuilding is scheduled for delivery in late March 2026.

More tankers came under attack in Gulf waters on Thursday as the U.S.–Iran war escalated, and Iranian drones entered Azerbaijan, threatening to spread the crisis to more oil producers in the region.A Bahamas-flagged crude oil tanker was targeted by an Iranian remote-controlled boat laden with explosives while anchored near Iraq's Khor al Zubair port, according to initial assessments. A second tanker at anchor off Kuwait was taking on water and spilling oil after a large explosion on its port side.Nine vessels have come under attack since the conflict broke out between the U.S.…

Iran's Revolutionary Guards said on Thursday that they had hit a U.S. tanker in the northern part of the Gulf and the vessel was on fire. There was no immediate confirmation of the incident or of a similar attack that Iran claimed earlier this week.The Guards said in their Thursday statement carried by state media that, in time of war, passage through the Strait of Hormuz will be under the control of the Islamic Republic.(Reuters - Reporting by Elwely Elwelly; additional reporting by Jonathan Saul; editing by Philippa Fletcher)

Insurance broker Marsh McLennan said on Wednesday it had met with U.S. officials to explore solutions for restoring maritime trade amid escalating fighting in the Middle East, as attacks in the region threaten energy shipments through the Strait of Hormuz.The waterway, a critical chokepoint between Iran and Oman, carries about a fifth of globally traded crude oil and liquefied natural gas.Shipping through the strait has slowed significantly following Iranian strikes on commercial vessels…

Saudi Arabia's state oil company Aramco is attempting to reroute some of its crude exports to the Red Sea to avoid the Strait of Hormuz, where the risk of Iranian attacks has slowed shipping to a near halt, sources said on Tuesday.Saudi Arabia and other regional Gulf oil producers, such as the United Arab Emirates, Kuwait and Iraq, have been unable to move oil through the Strait since the U.S. and Israel launched attacks on Iran on Friday. Hundreds of ships have anchored on either side of the Strait as a precaution…

Belgium seized an oil tanker belonging to the Russian shadow fleet on Sunday and suspected of sailing with a "false flag and false documents", Belgian Defence Minister Theo Francken said.Western sanctions imposed on Russia for invading Ukraine and aimed at cutting its oil revenues have led to the rise of a "shadow fleet" of tankers helping Moscow to keep its crude exports flowing."Over the past few hours, our armed forces, with the support of the French Defence, have boarded an oil tanker belonging to the Russian shadow fleet…

Frontline’s Ørjan Svanevik has resigned as Director of the company and has been replaced by Mikkel Storm Weum.Weum is employed as an Investment Director in Seatankers Management Norway AS, responsible for sale and purchase, newbuildings and projects. He is also serving as a director on the Board of NYSE listed Flex LNG Ltd and on the Board of NYSE listed Star Bulk Carriers Corp.Prior to being employed by Seatankers Management AS, Weum served as Senior Vice President, responsible for Business Development in SFL Management.

OPEC+ has decided to increase its crude oil production target by 206,000 barrels per day (bpd) for April against a backdrop of heightened geopolitical risk as conflict in the Middle East escalated rapidly over the weekend.Oil markets will enter the new week facing a materially higher risk of supply disruption, as approximately 15 million bpd of crude oil transits the Strait of Hormuz, representing close to 30% of global seaborne crude trade.This makes it the world's most critical oil chokepoint.Any sustained disruption…

At least three tankers were damaged off the Gulf coast and one seafarer was killed as Iranian retaliation for U.S. and Israeli strikes on Iran exposed ships to collateral damage, shipping sources and officials said on Sunday.Risks to commercial shipping have surged in the past 24 hours, with more than 200 vessels including oil and liquefied gas tankers dropping anchor around the Strait of Hormuz and surrounding waters, shipping data showed on Sunday.Iran has said it has closed navigation through the critical waterway…

A Hong Kong-flagged tanker carrying fuel likely bound for Cuba has halted navigation in the Atlantic Ocean, ship tracking data showed on Wednesday, a blow for the oil-thirsty Caribbean nation.The tanker Sea Horse loaded through a ship-to-ship transfer in the Mediterranean before departing towards the Caribbean Sea, according to monitoring service TankerTrackers.com. The vessel had been expected to arrive in Cuban waters later this week, according to its speed and trajectory.Hongkong Hangda Shipping LTD…

The U.S. Department of Defense conducted a maritime interdiction and boarding of the vessel Veronica III, which tried to defy President Donald Trump’s quarantine, the department said on Sunday."Overnight, U.S. forces conducted a right-of-visit, maritime interdiction and boarding of the Veronica III without incident in the INDOPACOM area of responsibility," it said in a post on X."We tracked it from the Caribbean to the Indian Ocean, closed the distance, and shut it down," it added.(Reuters - Reporting by Preetika Parashuraman in Bengaluru; editing by Philippa Fletcher)

Odfjell SE has reported preliminary full-year and fourth-quarter 2025 results, delivering what the company calls a resilient financial result that demonstrates a robust business model.“The fourth quarter concluded a year dominated by significant uncertainty and more challenging market conditions. The 2025 result is a testament to the strength of our business model, the breath of our contract portfolio, and the relentless focus on safety and efficiency across the organization.

McQuilling Services has released its 29th anniversary edition, 2026-2030 Tanker Market Outlook with the theme: “You Can’t See the Forest for the Trees.”The report frames the outlook for crude tankers over the next five years. Structural forces (the “forest”) including: 1) macroeconomic conditions, 2) a weakening US dollar, 3) a commodity price super cycle, 4) emerging market oil demand, and 5) global shipyard capacity constraints are expected to dominate market direction. Geopolitical…

Belgian oil tanker group CMB.TECH has agreed to sell two very large crude carriers (VLCCs) in a transaction expected to generate a capital gain of about $98.2 million.The vessels sold are 2012-built, 314,000 dwt Ingrid and Ilma VLCCs.The ships are scheduled to be delivered to their new owner in the second quarter of 2026.CMB.TECH said the capital gain, calculated based on the net sales price and book values of the vessels, will be recognized in the second quarter of 2026.

Two tankers suspected of illegal ship-to-ship oil transfers were detained and more than 512 million ringgit ($129.9 million) worth of crude oil seized 24 nautical miles west of Muka Head, Penang last week, the Malaysian Maritime Enforcement Agency said on Saturday.The agency did not specify the origin of the oil being transferred.The waters off Malaysia are known as a regular site for illegal ship-to-ship transfers, where oil is shifted between tankers at sea to obscure its origin.

Tankers International has extended its coverage beyond the VLCC market to include Suezmax vessels. With the formation of a new pool, International Seaways, who today acquired sole ownership of Tankers International, will add their spot trading Suezmaxes to Tankers International’s long-standing platform.A dedicated Suezmax pool provides greater flexibility to secure cargoes across similar crude movements, while expanding optionality to routes beyond those accessible to VLCCs.Charlie Grey…

The captain of a Venezuela-linked crude oil tanker seized by the U.S. this month has been taken from British territorial waters and is now aboard a U.S. Coast Guard vessel, a lawyer for the captain's wife said on Tuesday.The U.S. Coast Guard and U.S. military special forces, bearing a judicial seizure warrant, apprehended the Russian-flagged Marinera in the Atlantic near Iceland on January 7 after pursuing it for more than two weeks as part of Washington's efforts to block Venezuelan oil exports.After its capture…