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Scorpio Tankers expects weaker market after USD 144 million profit

The favorable conditions in the oil market continued for most of the second quarter, although they slowly subsided by late-June, writes Scorpio Tankers after booking yet another profit. The coronavirus crisis will cause market uncertainty for the remainder of the year.

Frontline reports best quarter in 11 years

Frontline's net earnings came to USD 108.8 million in the fourth quarter 2019, the highest result in more than 11 years. 2020 has started off well, but the coronavirus outbreak creates uncertainty, says CEO Robert Hvide Macleod.

British North Sea crude can be used as low-sulfur ship fuel

Crude oil from a field in the British North Sea contains so little sulfur that it can almost be used directly as ship fuel complying with the new global sulfur requirements that take effect next year. Major tanker company has bought the first shipment.

Authorities: Detained tanker is full of crude oil

Local authorities in Gibraltar now establish that tanker vessel Grace 1 is loaded with crude oil, writes Reuters. The vessel is being detained in Gibraltar on suspicions that it was heading to Syria.

Trafigura to build large oil terminal in Texas

Swiss-based commodity trader Trafigura has filed for permission to build a terminal in Texas which can be used by the largest oil tanker vessels. The project will facilitate the growing export of US crude oil.

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