Spot freight rates for a Very Large Crude Carrier (VLCC), carrying 2 million barrels of oil, between the Arabian Gulf and China reached USD 25,994 per day on 20 June, their highest level since March and significantly above the May average of USD 9,979 …
Little over a month after four tankers were damaged by explosions in the Middle East’s Gulf of Oman, another two tankers have been rocked by blasts in the same area. Last week, on 13 June, the methanol-carrying, Panama-listed Kokuka Courageous and the …
Testing times in the Gulf of Oman Read More »
A renewed sense of sentiment direction could emerge over the course of the next few days, after the latest developments, with regards to the latest budgetary impact on the shipbreaking industry in Southeast Asia and more specifically Bangladesh. Accord…
In less than 200 days , the mandatory IMO regulations to reduce sulphur emissions from ships, also known as Low Sulphur Cap, will be implemented. These regulations will increase fuel cost for most ships, with up to 50%. It creates a direct need for fue…
Fuel cost for ships to increase up to 50% in only 200 days from now Read More »
Product tankers and more specifically those of the MR class have been in high demand throughout 2018 and during the first half of 2019. In its latest weekly report, shipbroker Allied Shipbroking said that “for more than 6 months now, we have repeatedly…
Ship owners Snap Up Product Tankers, as Transactions are Up by 27% in 2019 Read More »