Maritime transport reportedly emits around 940 million tonnes of CO2 annually and is responsible for about 2.5% of global greenhouse gas (GHG) emissions (3rd IMO GHG study), with a projection to increase significantly over the next few years (estimated…
Exports of refined petroleum products from China declined by 51% month-on-month in May as the COVID-19 pandemic kept oil demand firmly depressed. Total volumes of refined petroleum products in May amounted to 3.8 million (m) tonnes, a glaring contrast …
Shipping Number of the Week: Chinese petroleum product exports drop 51% in May Read More »
We are now around 4 months into this global pandemic, and in the analysts’ world ideas about oil demand and how it may rebound are converging. In midApril we did a webinar reflecting the wide range in expectations of the collapse in global oil demand a…
Crude oil and product tanker markets alike have faced high volatility in recent weeks and months, largely due to geopolitics and the constantly evolving situation in the global oil markets. The first major disturbance since the fall in the oil price be…
Developments in the oil tanker market in the past decade dominated by geopolitics Read More »
The adoption of the ‘Initial International Maritime Organization (IMO) Strategy on Reduction of Greenhouse Gas (GHG) Emissions from Ships’ by IMO Resolution MEPC.304(72) in April 2018 demonstrates IMO’s commitment to support the Paris Agreement. The IM…
LNG as Marine Fuel: ABS Issues Guidance Read More »