Further to the club’s web alerts on 17 June and 22 July and news article on 19 July, the Warlike Operations Area Committee (WOAC) has temporarily designated the Strait of Hormuz as a high-risk area from 2 August. This follows the UK Government advice t…
Temporary Agreement for Strait of Hormuz issued by Warlike Operations Area Committee Read More »
With the first half of 2019 plagued by increased net tanker fleet growth and a higher than expected refinery maintenance, things weren’t going to be all that rosy for tanker owners. However, ship owner Teekay Tanker remains optimistic on the futu…
Ship Owner Optimistic About Tanker Market Recovery Read More »
Liaoning High Court recently issued a judgment ending a six-year legal battle over a consignment of iron ore stored in Dalian Port. The judgment addressed a tricky issue: where the warehouse receipt holder is different from the bill of lading holder, a…
China: Cargo Delivery By Port Authority – Dilemma Resolved Read More »
The tanker market is in a perilous place, as the US/China trade war is alive and kicking and world oil demand growth is trending downwards. Product tankers could suffer more, given that a number of oil products are directly correlated to global economi…
Tanker Market In a Tight Spot Read More »
Capesize Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. Currently the market is at a bit of a standoff, with a wide bid/offer spread. For the West Australia to China,…
Dry Bulk Market: Capesizes on Correction Mode Read More »