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Oil tankers

Oil tanker costs climb as Russia ties up system with longer routes

by Lily Jamali
Apr 13, 2023
The cost to ship fuel has more than doubled since February.
Sanctions forced Russia to sell more of its oil to countries like India and China, straining the availability of tanker ships.
Angelos Tzortzinis/AFP via Getty Images
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Aging oil tanker in Yemen raises concern about catastrophe in the Red Sea

by Daniel Ackerman
Jul 23, 2020
Observers worry that the ship — a "pawn" in Yemen’s civil war — could spill its oil and affect fisheries and drinking water.
A 2019 view of the Yemeni port of Hodeida, near where the FSO Safer is moored. Observers say the ship poses risk to the area.
AFP via Getty Images
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Cost of shipping oil rises as tankers face more attack risk

by Scott Tong
Oct 11, 2019
A string of recent oil tanker attacks is leading the industry to take extra precautions and raise shipping and insurance rates.
Fire and smoke billow from a Norwegian-owned oil tanker said to have been attacked in the waters of the Gulf of Oman in June 2019.
AFP/Getty Images
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Canada proposes tougher standards for oil tankers

by Scott Tong
Mar 16, 2015
Stricter rules are likely south of the border too.
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Oil traders are hedging their bets

by Adam Allington
Jan 20, 2015
One strategy: Buying oil then storing it in tankers until prices go back up.
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