‘Exciting period’: VLCC term charter market roars as Tsakos highlights deal at 15-year high
Three-year contract comes in at nearly $55,000 per day as spot rates continue to languish during annual slow period
September 2023
Four Former US Navy Officers Cleared in Fat Leonard Case Due to Prosecutor Misconduct
Four former U.S. Navy officers charged in a massive bribery scandal linked to the man known as Fat Leonard were cleared of felony charges on Wednesday by a judge citing prosecutor misconduct.U.S. District Judge Janis Sammartino said in a sentencing…
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Newbuilding Activity Still Behind 2022 Levels
Even though newbuilding activity has increased over the past couple of months, it remains below last year’s level. In its latest weekly report, shipbroker Allied Shipbroking said that “total contracting remains below last year’s pace as earnings …
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Shipping in ‘decisive decade’ to meet tighter emission targets
Faced with tough competition for greener fuels from other sectors, new 2030 maritime emission targets hang in the balance. According to the latest edition of DNV‘s Maritime Forecast to 2050 the shipping industry will find it challenging to secure enoug…
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Russian crude oil exports to India in August at lowest level since beginning of the year
The first week of September brings a downward movement in crude oil freight rates and a continued downward trend in VLCC tonne days demand growth. MEG -Rates for China have now fallen to their lowest levels since the beginning of this year, but there i…