Ship-to-ship transfers resume in GOM after storm

: Freight
24/07/09

Ship-to-ship transfers of crude, refined products and other commodities off the Texas coast resumed Tuesday after Hurricane Beryl postponed operations on Saturday.

The US National Weather Service (NWS) forecast workable conditions with winds of 5-10 knots (6-12 mph) for the remainder of the week off the Texas coast from Corpus Christi to Beaumont after Hurricane Beryl brought gusts of up to 95 mph on Sunday and Monday.

Ship-to-ship transfers, also referred to as lighterings and reverse lighterings, typically are postponed when sustained winds exceed 25 mph.

Due to draft restrictions at ports in Texas, ship-to-ship transfers are required to fully load 2mn bl very large crude carriers (VLCCs). The transfer typically is from an Aframax or Suezmax at designated zones near Corpus Christi, Galveston and Beaumont-Port Arthur.

Prolonged delays can prevent crude tanker tonnage from becoming available and exert upward pressure on freight rates, while also adding to demurrage fees.

By Tray Swanson

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25/06/18

Контейнерные перевозки через Каспий дешевеют

Riga, 18 June (Argus) — Стоимость транспортировки контейнеров по Транскаспийскому международному транспортному маршруту (ТМТМ) в мае снизилась относительно апреля. В июне цены на транспортировку снизятся в среднем еще на 6%, полагают перевозчики. Перевозки дешевеют третий месяц подряд на фоне возобновления и стабилизации транспортировки контейнеров из Китая по альтернативному маршруту через Красное море. В условиях растущей конкуренции перевозчики вынуждены предлагать более низкие цены на контейнерные поставки по комбинированному маршруту из Китая в Европу через Каспий, — полагают участники рынка. Скорость движения поездов несколько повышается в условиях снижения интенсивности контейнерных поставок, сообщили отраслевые источники. ________________ Больше ценовой информации и аналитических обзоров рынка транспортировки грузов в странах Каспийского региона и Центральной Азии — в отчете Argus Транспорт Каспия . Вы можете присылать комментарии по адресу или запросить дополнительную информацию feedback@argusmedia.com Copyright © 2025. Группа Argus Media . Все права защищены.

AWRP tanker insurance to jump in Mideast Gulf

25/06/18

AWRP tanker insurance to jump in Mideast Gulf

London, 18 June (Argus) — Additional War Risk Premiums (AWRP) in the Mideast Gulf could be set to rise sharply in the coming days in the wake of the Iran-Israel conflict, potentially pushing up freight rates, sources indicated to Argus , as the number of underwriters willing to commit at current levels appears to be shrinking. Offers from underwriters in line with last-done levels are becoming increasingly scarce, sources told Argus , with a number of underwriters now offering at significantly higher premiums. The situation is extremely fluid and even the higher offer levels are expected to climb in the coming days, sources said. One source suggested that tomorrow would be a trigger point to revise AWRP rates upwards for all oil and gas cargoes seeking Mideast Gulf cover and the new level would require "a massive uplift". AWRP cover protects a vessel against any physical loss or damage incurred from war related activities such as missile, drone or mine attacks, as well as capture, seizure or detainment. Although vessels are still able to secure AWRP in line with the standard 0.125pc for the Mideast Gulf before the conflict, participants have indicated that some offers are now at or above 0.2-0.4pc of the insured value of the vessel — hull and machinery value. Offers vary widely depending on the specifics of the vessel or providing insurer but several sources have indicated that some offers are at least 50pc higher than early last week. One source stressed that protection and indemnity (P&I) clubs have not yet made a definitive statement on insurance but there is increased alertness. P&I clubs provide marine protection and indemnity insurance for about 90pc of the world's oceangoing tonnage and are key determiners of the overall policies around marine insurance. AWRP in the Black Sea for a Russian crude cargo on a Suezmax tanker peaked at 1.5pc of the insured value of the ship according to Argus assessments, (around $800,000) in 2022 and 2023 as a result of the Russia-Ukraine conflict. Argus estimated that the insured value of a very large crude carrier (VLCC) at around $90mn, and a 0.4pc AWRP would equate to around $360,000. A shipowner could receive up to 50pc of this back as part of a no claims bonus but it remains a substantial extra cost faced by crude exporters from the Mideast Gulf. The Mideast Gulf to Asia-Pacific VLCC rate already jumped to the equivalent of $2.14/bl for Murban crude ($16.35/t or WS70) on 17 June from $1.34/bl ($10.28/t or WS44) on 12 June before the first missile strike on Iran. VLCC tankers carrying crude from the Mideast Gulf is the single largest crude trade in the world and since the start of the current conflict between Israel and Iran the cost of freight has bounced almost to a 2025-high from close to a 2025-low. A higher AWRP would most likely be passed on to charterers, leading to further gains in the spot freight market. There is also the likelihood that some insurers could cease offering cover citing inherent risks. But, higher AWRPs are also an opportunity for insurers to generate higher revenues, albeit with significant risks. By John Ollett, George-Maher Bonnett, and Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Two oil tankers collide off UAE coast: Update

25/06/17

Two oil tankers collide off UAE coast: Update

Adds fire, details on both tankers throughout Dubai, 17 June (Argus) — Two oil tankers have collided off the coast of the UAE, the country's national guard said today, with at least one seemingly on fire as a result. The collision occurred early today, 17 June, in the Sea of Oman, around 24 nautical miles off the port of Khor Fakkan on the UAE's east coast, according to the national guard. It identified one of the vessels as the Antigua and Barbuda-flagged Adalynn , a Suezmax-class tanker that had departed Fujairah heading for the Suez Canal, according to MarineTraffic data. Unverified video on social media shows the Adalynn on fire. The national guard said 24 crew members were removed and brought ashore at Khor Fakkan. Adalynn was, under a previous name, under US sanctions from March 2022 to September 2023, accused of being used for illicit shipments in support of Iran's Islamic Revolutionary Guard Corps. Shipping company Frontline said its very large crude carrier (VLCC) Front Eagle was the other tanker. Frontline said there was a fire on the Front Eagle's deck, which was quickly extinguished. All its crew are safe, Frontline said. Tracking data show the tanker had departed Khor Fakkan and was bound for Zhoushan, China. MarineTraffic data show both tankers are stationary. The incident comes a day after the UK Maritime Trade Operations (UKMTO) said it had received multiple reports of "increasing electronic interference" in the Mideast Gulf and strait of Hormuz. The interference is probably linked to the latest escalation between Israel and Iran, triggered by Israeli air and missile strikes on several Iranian military and nuclear sites on 13 June. The two sides have since exchanged missile fire with growing intensity, and critical infrastructure was hit over the weekend. By Nader Itayim, Elshan Aliyev and Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Two oil tankers collide off UAE coast

25/06/17

Two oil tankers collide off UAE coast

Dubai, 17 June (Argus) — Two vessels have collided off the coast of the UAE, the country's national guard said today, with at least one confirmed as a crude oil tanker. The collision occurred early on 17 June in the Sea of Oman, around 24 nautical miles off the port of Khor Fakkan on the UAE's east coast, according to the national guard. It identified one of the vessels as the Antigua and Barbuda-flagged Adalynn , a Suezmax crude tanker that had departed Fujairah and was en route to the Suez Canal, according to MarineTraffic data. The national guard said 24 crew members were evacuated and brought ashore at Khor Fakkan. The second vessel was not officially named, but market sources pointed to the Liberia-flagged Front Eagle , also a crude tanker, which had departed Khor Fakkan and was bound for Zhoushan, China. MarineTraffic data show both vessels are currently stationary, with the Front Eagle listed as "not under command." The incident comes a day after the UK Maritime Trade Operations (UKMTO) said it had received multiple reports of "increasing electronic interference" in the Mideast Gulf and strait of Hormuz. The interference is likely linked to the latest escalation between Israel and Iran, triggered by Israeli air and missile strikes on several Iranian military and nuclear sites on 13 June. Iran responded with ballistic missile and drone attacks on military targets in Israel, including the Kirya complex in Tel Aviv, which houses the defence ministry. The two sides have since exchanged missile fire with growing intensity, and critical infrastructure was hit over the weekend. By Nader Itayim and Elshan Aliyev Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

VLCC rates jump on Mideast Gulf disruptions

25/06/16

VLCC rates jump on Mideast Gulf disruptions

London, 16 June (Argus) — Freight rates for very large crude carriers (VLCC)in the Mideast Gulf soared today to the highest since the start of May, as the escalating conflict between Israel and Iran creates significant turbulence in the shipping market. Rates were near a 2025-low as recently as 12 June, the day before the conflict began. Violence continued over the weekend, including a strike on Israel's 197,000 b/d Haifa refinery and against gas treatment facilities in southern Iran. Shipowners have become increasingly reluctant to operate in the Mideast Gulf and there are indications that marine insurers are considering implementing an additional war risk premium (AWRP) in the coming days. This would lead to significantly higher freight costs. The shortage of willing shipowners has driven the Mideast Gulf to east Asia rate, the bellwether VLCC route, up by nearly 60pc, to WS67.5 or $15.78/t today from WS44 or $10.28/t on Thursday, 12 June. In addition to rising rates, vessel speeds throughout the Mideast Gulf region appear to be slowing as shipowners hesitate before committing to a booking. Fixing activity has been minimal, with shipowners reluctant to commit to any deal within the Mideast Gulf even at higher rates. Charterers have made at least eight VLCC cargoes available and all are struggling to find a tanker. But rising rates could make shipowners increasingly likely to commit to bookings, and so fixing activity could resume shortly. VLCC markets in other regions are surging as well, as charterers hike their bids to pull shipowners away from the Mideast Gulf market. A charterer in Brazil wrapped up a fixture at WS62, considerably higher than previous market conditions. The market has been certainly been inflated by concerns around the Israel-Iran conflict and a ceasefire would probably drop the cost of freight back to previous levels. During previous flare ups of tension, the VLCC market has usually firmed rapidly in the early stages but then quickly declined once a ceasefire is declared. By John Ollett and Rhys van Dinther Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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