2023 will be remembered for many reasons. For the tanker market, it was the year that VLCC freight finally remained within positive territory for a full 12 months. But it wasn’t a smooth ride. The market had increased volatility, and earnings swung dra…
2023: a rollercoaster year for tanker markets Read More »
In the second week of December, the outlook for the crude oil freight market is subdued despite earlier expectations of stronger momentum. In the clean segment, however, there are encouraging signs that sentiment is brightening, particularly on the LR2…
Tanker market has retained healthy freight rates, despite challenging conditions. In its latest weekly report, shipbroker Xclusiv said that “despite ongoing volatility stemming from seasonality and market shifts, freight rates in the tanker market rema…
Healthy Tanker Rates Bode Well for the Future Read More »
Congestion for ships loading grain cargoes at Brazilian ports has surged this year due to large harvests and low water levels in the Amazon River. Between January and November, the average waiting time reached 15 days, up from nine days average between…
New solutions needed as waiting times at Brazilian ports reach 15 days Read More »
The Bahamian flagged M/V Galaxy Leader was the target of a Houthi insurgent hijacking, approximately 50 nautical miles west of Hodeida in the Red Sea on November 19. The 189-metre car carrier, which was transiting empty, was en-route from Körfez, Turke…
Houthi Hijacking in the Red Sea: A Disturbing Escalation Read More »