A group of companies has come together to develop a better understanding of the practical realities involved in using ammonia as a fuel for ships. Ammonia is one of a number of options to be a marine fuel of the future. One of the key elements in the g…
Can ammonia be a safe fuel for the shipping industry of the future? Read More »
The conclusion of the P&I renewal season and rising risk exposure from Covid-19 confirms that marine insurance costs are hardening which will raise vessel operating costs just when earnings are expected to come under pressure as trade contracts. Th…
Shipowners face perfect storm of rising opex as earnings fall Read More »
On 21 February 2020 details were first published of an historic and unprecedented information-sharing agreement among the world’s three biggest open shipping registries – Panama, Marshall Islands and Liberia. The Registry Information Sharing Compact (R…
Members of OPEC and allies (OPEC+), agreed to a historic production cut of 9.7 million barrels of crude oil per day (m/bpd) to reduce the massive production overhang and set a price floor to limit the fall in oil prices. The production cut is however n…
OPEC+ Production Cuts Will End Profitable Crude Oil Tanker Journeys Read More »
The recent cut in oil production by OPEC and its non-OPEC allies (OPEC+) is insufficient to balance the oil market, considering a sharp decline of 23 mbpd in demand in 2Q20 because of the COVID-19 outbreak. OPEC+ has finally managed to reach a historic…
Tanker rates will hit the roof if producers outside OPEC+ fail to curb output in 2Q20 Read More »