Dirty tanker spot freight rates largely recovered from the previous month’s declines. Suezmax rates saw the strongest gains, up 34% on average, m-o-m, and 38%, y-o-y, OPEC said in its latest monthly report. Spot freight rates on the West Africa-toUS Gu…
Tanker Market Stages August Recovery Read More »
In an age defined by ultra-fast digital transformation, the global trade landscape remains anchored in a bygone era of paper. Despite the acknowledged benefits of going digital, international trade continues to depend heavily on paper-based documents a…
Shipping’s outdated paper chase Read More »
This week, the spotlight is on the evolving monthly volumes of dirty oil flows, specifically the increasing trend from Saudi Arabia to China. In August, Saudi crude shipments to China surged by 19% year-on-year, exceeding 50 million barrels. This marks…
Tanker Weekly Market Monitor: Dirty Oil Flows to China Read More »
The tanker market is fragmented with each class showing varying performance, as a direct result of changing trade flows. In a recent weekly report, shipbroker Xclusiv said that “the oil market is once again caught between contrasting narratives, with t…
Tanker Market Fragmented With Performance Varying Read More »
“Between January and August, product tanker newbuilding contracting dropped 86% y/y to 2.6 million deadweight tonnes (DWT) representing a nine-year low,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO. The development marks a stark reversal fr…
Product tanker newbuilding contracting drops 86% to nine-year low Read More »