Newbuilds expand AET’s dual-fuel fleet to all of its sectors: Aframaxes, Shuttle Tankers, Suezmaxes and Very Large Crude Carriers (VLCCs)AET signed shipbuilding agreements with Samsung Heavy Industries (SHI) for the construction of two LNG dual-fuel Suezmax tankers.The vessels will further expand AET’s growing dual-fuel fleet operating worldwide. With these orders, AET will have dual-fuel capability in all the tanker sectors it operates in – Aframaxes…
Bahri posted record financial results in 2025, underpinned by a strengthening crude tanker market and a larger, younger owned fleet that increased exposure to improving rate conditions.Full-year revenue reached $10.35 billion, up 9% year-on-year…
U.S. military forces boarded a crude oil tanker in the Indian Ocean after pursuing it from the Caribbean, Defense Secretary Pete Hegseth said on Monday, accusing the vessel of breaching Washington's blockade on sanctioned vessels traveling to or from Venezuela…
Frontline plc (NYSE and OSE: FRO) entered into one-year time charter-out agreements for seven of its VLCCs. The charters will commence during the period from late-January to April 2026 at a rate of $76,900 per day per vessel.“We are in unprecedented times…
'In 2025, China’s total import of crude oil rose nearly 5% -- 4.9% to 11.6 million barrels per day (mbpd) from 11.1 mbpd in 2024 according to data released by the General Administration of Customs (GACC) in China. Seaborne imports increased an estimated 4…
Global shipping company Diana Shipping plans to launch a proxy fight to replace rival Genco Shipping & Trading's six current directors, making its decision just days after the board rejected Diana's takeover offer, two people familiar with the matter said…
DHT Holdings, Inc. has taken delivery of a VLCC newbuilding from Hanwha Ocean Co., Ltd. The vessel is named DHT Antelope and is entering the spot market. It is the first of a series of four VLCC newbuildings to be delivered to the company during the first half of 2026…
After several years of volatility, 2025 became the year the global shipping markets began to reset. Not collapse—but recalibrate.According to Veson Nautical’s 2025 End-of-Year Market Report, the past year was defined by persistent geopolitical disruption…
“Due to low contracting volumes in 2022, the crude tanker order book/fleet ratio bottomed out at 2.8% in March 2023. It has climbed steadily since and has now hit a nine-year high of 14.1%. The order book may kickstart the renewal of a fleet that has grown older on average since 2018…
Russia will deliver oil to Brunei via the Northern Sea Route for the first time this September, expanding its export reach through the strategic Arctic passage, two sources familiar with the shipping data told Reuters.Until now, NSR shipments…
“We forecast a balanced development in the crude tanker market in 2025 and 2026 while we expect the product tanker market to remain weaker than in 2024. The product tanker suffers under the weight of increasing supply growth and weaker demand growth due to shorter sailing distances…
“During the first seven months of 2025, Nigeria’s seaborne imports of clean petroleum products (CPP) declined by 39% compared to the same period in 2024, reaching 230 thousand barrels per day (kbpd). The decrease follows a 19% reduction during 2024…
Current global economic and geopolitical landscapes are shaped by several key uncertainties. Tensions between Israel and Iran, particularly regarding the Strait of Hormuz, pose risks to regional stability and energy supply routes. Similarly…
While global energy markets are not yet pricing in worst-case scenarios for the Israel-Iran war, oil tanker rates are providing a good real-time gauge of the escalating risks.Geopolitical risk has spiked following Israel's surprise bombardment…
“In a possible sign that the unwinding of OPEC+ production cuts could increase seaborne volumes, the combined crude tanker loadings of OPEC countries has jumped 24% week-on-week to 2.281 million barrels per day (mbpd) in week 23, the bloc’s highest weekly loadings since April 2023…
