TTE News & Events

The U.S. will allow Iran to immediately begin selling oil and fuel under the deal to end the war, Dov Lieber, Summer Said and Alexander Ward of Wall Street Journal report, citing people familiar with the agreement. The waiver of sanctions takes effect immediately upon signing the agreement this week and also covers services including banking, transportation and insurance needed to facilitate the sales, sources told the Journal. Publicly traded companies in the oil space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).

Capital Clean Energy Carriers (CCEC) announced the formation of a joint venture company with CMA CGM. Each party will hold a 50% ownership stake in the joint venture, which has been established for the purpose of constructing, chartering, and operating one 20,000 cbm dual-fuel LNG bunkering vessel. The joint venture marks CCEC's entry into the LNG bunkering segment, the company's first vessel dedicated to marine fuel supply. In connection with this transaction, the joint venture has entered into a shipbuilding contract with Nantong CIMC Sinopacific Offshore & Engineering for the construction of the vessel at a contract price of $82.8M, with delivery expected in the third quarter of 2028. In addition, the joint venture is expected to enter into a 12-year time charter with a joint venture company formed between CMA CGM and TotalEnergies (TTE), commencing upon delivery of the vessel from the shipyard.