Tray Swanson

Dec 6, 2023 | argusmedia.com | Tray Swanson

An Aframax tanker hauling crude from Mexico's west coast has sailed around South America en route to the US Gulf coast to avoid record-long wait times at the drought-stricken Panama Canal. The Frankopan, laden with 740,000 bl of Maya crude, sailed through the Magellan Strait on 6 December after loading in Salina Cruz, Mexico, on 20 November.

Nov 29, 2023 | argusmedia.com | Haik Gugarats |Tray Swanson |Carlos Camacho

The US' lifting of sanctions against Venezuela's oil sector may prove to be rather brief, as Washington is threatening to reimpose some of the economic restrictions it waived barely six weeks ago. Washington is keeping Caracas to a 30 November deadline to meet political conditions associated with a waiver from US sanctions that have been in effect since 2019.

Nov 22, 2023 | argusmedia.com | Tray Swanson

Medium range (MR) clean tanker rates for shipments out of the US Gulf coast have jumped to the highest since 2022 on a surge in spot refined tanker product exports ahead of the US Thanksgiving holiday and strained tonnage due to record-high wait times at the Panama Canal. US Gulf coast-loading MR rates for voyages to east coast Mexico surged to $1.6mn lump sum on 21 November, up from $475,000 on 1 November, after a sharp uptick in demand injected momentum into the Gulf coast market.

Sep 8, 2023 | argusmedia.com | Tray Swanson

Saudi Arabia's unilateral 1mn b/d production cuts have helped boost very large crude carrier (VLCC) earnings on the US Gulf coast to a premium over VLCCs in the Mideast Gulf for seven weeks, the longest span this year, as refiners in the Asia-Pacific region look to the Atlantic basin for replacement supplies.

Aug 31, 2023 | argusmedia.com | Tray Swanson

Florida ports on the US Gulf coast from Fort Myers to Panama City remained closed as of 11am ET Wednesday after Hurricane Idalia made landfall the day before. The ports are awaiting confirmation from the US Coast Guard and Army Corps of Engineers to ensure the harbors are safe to transit, a port agent said.