Russia's June Urals crude exports from the Baltic Sea ports are expected to fall by 15 percent compared with May on a daily basis to 5.51 million tonnes, a preliminary loading plan seen by Reuters showed on Thursday.Crude loadings from the port of Primorsk were set to fall by 30 percent to 2…
Gulf-based bidders have emerged for the part-owned subsidiary of United Arab Shipping Company (UASC) whose sale is key to finalising the merger between UASC and German container shipping line Hapag Lloyd , sources close to the matter said. Last week…
Oman Shipping Company (OSC) has officially set up a new commercial chartering desk offering its Very Large Crude Carrier (VLCCs) to major traders and charterers covering VLCC routes worldwide. OSC, one of the biggest ship owners in the MENA region…
DryShips Inc, a diversified owner of ocean going cargo vessels, announced that it has taken delivery of the previously announced 115,666 deadweight tons Aframax tanker built in 2012, which will be employed in the spot market. 'Since the commencement of our acquisition program…
Greece-based Tsakos Energy Navigation (TEN) said that its 15-vessel newbuilding program is nearing completion with the final three aframax tankers expected to be delivered in the coming months. In the second half of the year, with all…
The beginning of 2017 found both the drybulk and containership markets recovering from the historical low levels observed during 2016, says Euroseas Chairman. Aristides Pittas, Chairman and CEO of Euroseas said that the drybulk market improved…
Recovery in the crude tanker shipping market is not expected until 2020 as weak trade growth and a bloated orderbook limit any rate recovery. But the timing of any market upturn will be heavily influenced by the level of scrapping, according to the latest edition of the Tanker Forecaster…
South Korean shipyards emerged on top for new orders in April, Business Korea reported quoting industry data. The global total amount of new shipbuilding orders reached 750,000 CGT last month and 340,000 CGT and 260,000 CGT went to South Korean and Chinese shipbuilders…
Thailand’s MTT Arranges Emergency Response Framework The Map Ta Phut Tank Terminal Company (MTT) has signed an official preparedness framework agreement with Ardent. The deal is the first of its kind in Thailand and is specifically structured…
Cuban exports of refined oil products fell about 97 percent between 2013 and 2016, according to a United Nations trade report released this week, reflecting falling supplies from its political ally Venezuela. The UN Comtrade annual report put the value of Cuban fuel exports last year at $15…
Demand for methanol and vegoil will moderately support global seaborne trade causing the shipping fleet trading in chemicals and vegoils to expand, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry…
Scorpio Tankers, provider of marine transportation of petroleum products, announced that it has reached an agreement with an unrelated third party to sell two of its 2013 built MR product tankers (STI Sapphire and STI Emerald) for approximately $56…
Crude oil tanker company DHT Holdings rejected on Sunday a fifth takeover proposal from shipping tycoon John Fredriksen's Frontline. A statement from DHT Holdings said that its Board of Directors has unanimously rejected Frontline April…
d'Amico International Shipping believes that the supply-demand balance in the product tanker freight market is improving. The key drivers that should affect the product tanker freight markets are (i) global oil supply (ii) the crude oil…
FSL Trust Management (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust), reported a net profit of $3.4 million for the three months ended March 31, 2017, compared to $2.3 million reported in 1QFY16. This positive result was achieved despite challenging industry conditions and a 17…