It will be recalled that this entity (plus others) was designated on 25 September 2019 under Executive Order 13846. Simultaneous with notice of the designation, OFAC also published a FAQ which sought to emphasise that the impact of the designation was …
Impact of the designation of COSCO Shipping Tanker (Dalian) Co. Read More »
The upcoming IMO 2020 rule on the use of lower sulphur fuel oil could send more older tonnage for scrapping, as evidenced by last week’s surge in enquiries after months of lackluster performance. Still, market reports are contradicting each other…
Older Tonnage Could Be Headed for Scrapping, Ahead of the IMO 2020 Rule Read More »
Chinese steel production dropped by one million (1m) tonnes, a decline of 1.2%, compared to October last year. China produced 81m tonnes of crude steel in October 2019. This is the first decline in steel production year-on-year since December 2017. The…
The recently concluded deal between China’s Wanhua Chemicals and Qatar Petroleum for LPG supply indicates the continued push by China to diversify away from US LPG in light of the US-China trade tensions. China’s LPG demand is projected to increase at …
China continues to diversify away from US LPG Read More »
The dry bulk market is perilously close to ending the year in the same dire manner with which it began it. In its latest weekly report, Allied Shipbroking commented that “on Friday, the average of the year so far for the BDI closed at 1,346bp, almost p…
Dry Bulk Market: Capesize Segment Could Face More Downward Pressure Read More »