Explosion

Singapore oil tanker hit by explosion caused by ‘external source’ off Saudi Arabia

The incident, which occurred at approximately 00:40 local time, caused “an explosion and subsequent fire onboard,” the company said, as well as hull damage. It remains unclear at this time what the “external source” was.

“The Master immediately ceased all discharge operations and enacted emergency procedures onboard,” the statement added.

The crew has extinguished the fire with assistance from the shore fire brigade and tug boats, and all 22 seafarers have been accounted for with no injuries. Hafnia said “it is possible that some oil has escaped from the vessel, but this has not been confirmed and instrumentation currently indicates that oil levels on board are at the same level as before the incident.”

Cooling procedures and inerting of cargo space have been started to avoid any more potential fires, while ship stability is being assessed before continuing with any further operations, the company added.

Inerting is the introduction of

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Oil Climbs Toward $47 on U.S. Vaccine Rollout, Tanker Explosion

(Bloomberg) — Oil advanced toward $47 a barrel before the rollout of the first Covid-19 vaccine in the U.S. and as news of another tanker explosion in the Middle East raised concerns over the region’s stability.

Futures rose 0.6% in New York after losing 0.5% on Friday. First deliveries of the Pfizer Inc.-BioNTech SE vaccine will be made Monday after the drug gained emergency authorization last week, with President Donald Trump and other officials offered the shot as part of a plan to ensure continuity of government.

A ship was hit by an explosion near the Saudi Arabian port city of Jeddah on Sunday, according to the United Kingdom Marine Trade Operations. The incident highlights the potential for supply to be disrupted in the region and comes three weeks after an oil tanker was damaged in a possible attack at the Saudi terminal of Shuqaiq.



chart: Oil has climbed amid vaccine breakthroughs


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Oil has climbed

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