Both companies are under the control of China Merchants Group which signed an agreement with the provincial government to restructure…
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With floating storage having peaked and more tonnage being gradually released, supply is on the rise in the tanker market. With predictions for oil demand growth also ominous, the tanker market could be heading for a tough second half of the year. In i…
Tanker Market Could Suffer During the Second Half of 2020 Read More »
Mostly missing or infrequently discussed in the COVID-19 pandemic is the current oil crash deepening from crippling fuel demand, sending prices spiraling to an all-time low (crude oil future prices turned negative at some point). As Americans continue …
Dry bulk shipowners have had solid reasons to smile this week and rightfully so. The physical market recorded an impressive rally and fixtures reported seem unable to “beat the index” as it is breaking records day by day. Same rally was followed by the…
Has the dry bulk tide turned? Read More »
The dirty tanker market has fallen from the recent highs during the month of May, OPEC said in its latest monthly report. More specifically, the tanker market came back down to earth in May, after reaching strong levels in March. A major contributor to…
Tanker Market in Retreat During May Read More »