This past week saw the latest reports from OPEC, EIA and IEA alike. In its latest weekly report, shipbroker Gibson noted that “it is official. After weeks of speculation and some minor reshuffling in terms of meeting dates, in early July OPEC+ announce…
Average dirty tanker spot freight rates were broadly flat in June, with ample tonnage availability dampening the impact of increased activity as refineries returned from maintenance, said OPEC in its latest monthly report. In June, Very Large Crude Car…
Tanker Rates Flat During June Read More »
The oil market has been highly volatile in 2019 on account of uncertain supply. Although Drewry expects growth in non-OPEC oil supply to be higher than growth in global demand in 2019, US sanctions on Iran and Venezuela and OPEC’s market management hav…
A usual trend has been emerging of late in the demolition market, with more ship owners hesitating to sell their older carriers for demolition, after the recent rise in dry bulk rates. However, even before this, 2019 has been a lackluster year for ship…
Demolition Market Needs to Pick Up for Rates’ Rise to Be Sustainable Read More »
Additive manufacturing, or 3D printing, has the potential to transform the maritime equipment supply chain. With the adoption of technology enabling printing in metal, vital spare parts and system components can now be printed on demand in locations ar…
Testing the potential of additive manufacturing Read More »