The second week of September maintains its grip on the crude oil freight market’s sentiments, as VLCC rates have yet to display the anticipated rebound. The struggle persists in the VLCC MEG-China rates, leaving industry observers closely monitor…
Continued downward pressure with a significant decline in VLCC demand growth rates Read More »
The International Group (“IG”) Standard Form Letters of Indemnity (given in return for delivery of cargo without production of an original bill of lading and/or delivery of cargo at a port or place other than stated in the bill of lading) w…
Updated suite of IG-recommended Letter of Indemnity wordings Read More »
Ship owners have been quite active in the newbuilding and S&P markets this past week. In its latest weekly report, shipbroker Allied Shipbroking said that “a substantial number of newbuilding orders have come to light over the past week, with bulk …
Ship Owners Splurge The Money for Newbuildings Read More »
In the second week of September, despite the ongoing challenges surrounding China’s economic recovery and uncertainties regarding grain trade negotiations between Ukraine and Russia, we observed a continued firm momentum of freight rates. It is u…
US oil production has increased since 2013 while US refinery runs peaked before the COVID pandemic. This has allowed dirty tanker exports to increase from 0.4 million barrels per day (mbpd) in 2016 to 3.5 mbpd during the first eight months of 2023. Dur…
US dirty tanker export demand jumps 33% year-on-year Read More »