This year, tanker shipping will not benefit from the usual strong winter seasonal effect. Though the new lockdowns being introduced in many countries are less strict than in the spring, the effect on tanker shipping will be worse, given the oil supply …
Tanker shipping: worst not yet over as industry pays for strong second quarter Read More »
Innovation is touching every corner of the shipping industry, with major changes underway in the way owners are buying bunkers. Rising oil volatility has caused an increasing number of shipping companies to start procuring their fuel months in advance….
Shipowners Rush to Bunker Hedging Read More »
Letters of indemnity (LOIs) are common in the shipping industry and are often used to ‘oil the wheels’ where a charterer wants to do something that does not fall squarely within the terms of the charterparty. The owner may be willing to comply, as long…
Careful drafting of LOI invocation clauses in charterparties avoids later surprises Read More »
The sale of Sam (formerly Zoya 1), an almost 25-year-old 300,500 DWT crude oil tanker, marks the end of the fourth longest streak of zero VLCC demolitions in history, this time lasting 512 days. The last VLCC to be demolished was the 300,361 DWT “Watba…
Sale of 25-year-old VLCC ends 512 days demolition draught Read More »
This time a year ago the market was talking about the upcoming IMO2020 sulphur regulations change. The operators of the non-scrubber tonnage were in the process of putting together the switch-over plans from HSFO to VLSFO and starting to purchase the c…
A year on: better VLSFO quality but watch HSFO Read More »