Freight Rates for Crude Oil Fall Further

• Sunday, 6th August 2017
• by Editorial Team

Crude-oil transport rates between Asia and the Middle East fell again on Thursday, sinking to W46.25, Reuters reports. Cargo rates fell from W49.50 the previous week, a drop of 7%. Rates for older, less efficient vess...

Saudi Bahri, APICORP Agree to Launch $1.5b Investment Fund

• Monday, 18th July 2016
• by Egypt Oil & Gas

National Shipping Company of Saudi Arabia (Bahri) said it signed an agreement with the Arab Petroleum Investments Corporation (APICORP) to establish an investment fund worth around $1.5b, Reuters reported. Bahri said ...

Suez Canal Authorities Set New Fares for VLCCs

• Monday, 20th June 2016
• by Egypt Oil & Gas

New toll rates have been set by Egypt’s Suez Canal Authority, as part of a six-month experiment, for the oil tankers that will be using the vital waterway to deliver very large crude carriers (VLCCs), reported Reuters...