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Three tankers stranded off China due to new sanctions against Russia

Three tankers with a total of 270,300 tons of oil on board are drifting off the coast of China as the consequence of a new US sanctions package against Russia. The measures were decided by Washington last week and appear to be causing major problems for Russian oil exports. The Chinese port of Shandong has banned ships that are subject to US sanctions because of the package of measures. Most of the oil is imported via the port of Shandong. Affected by the sanctions are the "Huihai Pacific", the "Mermar" and the "Olia". What will happen to the ships now was unclear at this stage. The 'Olia' had left the Russion oil port of Kozmino on Dec 3, 2024, and moored in pos. 38° 16' N 121° 55' E on Jan 13, 2025.

Teekay sells aframax pair for $28m each

Brokers report that Teekay has sold two aframaxes to Greece’s Estoril Navigation. Estoril Navigation declined to comment when contacted by Splash. The Korean built, 111,000 dwt American Spirit and the 106,000 dwt, Japanese built Fuji Spirit fetched $28m each, reports say. The ships are believed to have been taken back on three-year time charters at an undisclosed rate. Online portal VesselsValue.com values the 2003-built tankers at around $24m each. Estoril Navigation was established in January 1993 by Alex Karidopoulos and it constitutes a continuation of Empire Marine Transport which was founded 10 years earlier. The new ships brings Estoril Navigation’s aframax fleet up to five ships.