Crude and product tanker flows in the Atlantic could shift as a result of a potential ramp up of production by the Olmeca refinery in Mexico. In its latest weekly report, shipbroker Gibson said that “the Olmeca refinery in Dos Bocas, Mexico, was inaugu…
Crude Tanker Market: Atlantic Flows Could Shift Read More »
Capesize The Capesize market experienced a mixed week, beginning with positive sentiment but gradually facing increasing pressure. It was a slow start, although optimism remained as the BCI 5TC rose by $400 to $28,232, driven by limited but stronger Pa…
Dry Bulk Market: Mixed Week for Capesizes Read More »
Drewry projects a 3.3% YoY gain in Capesize shipping demand in 2024 due to the shift in Colombia’s coal exports to the Far East. Freight rates on the Colombia-ARA route will be dampened as Europe, Colombia’s erstwhile major trade partner, is reducing i…
Asia’s appetite for Colombian coal pushing up Capesize demand Read More »
Cypriot shipowner and fund manager wants to bridge the shipping funding gap with new credit venture
The operation has started to tow a Greek-registered oil tanker stranded in the Red Sea after an attack by Houthi militants last month, a shipping source told Reuters on Saturday.Towing the 900-foot (274.2-metre) MV Sounion to safety is the first…
Salvors Begin Towing Stricken Tanker Sounion in Race to Avert Catastrophic Oil Spill Read More »