Two of the world's top shipping companies, Maersk and Hapag-Lloyd, said on Thursday they did not see an immediate return to Red Sea after the ceasefire between Hamas and Israel was announced.Both companies said they would be closely monitoring the situation in the Middle East and would return to the Red Sea once it was safe to do so.'The agreement has only just been reached. We will closely analyze the latest developments and their impact on the security situation in the Red Sea…
McQuilling Services announced the release of its 28th anniversary edition, 2025-2029 Tanker Market Outlook.This 183-page report provides a detailed analysis of oil fundamentals, global economic and geopolitical context in addition to tanker demand and supply projections across eight vessel classes…
The price of Iranian crude oil sold to China has risen to the highest in years as fresh U.S. sanctions have tightened shipping capacity and driven up logistics costs, trade sources and analysts said.Rising prices for Iranian oil as well as Russian…
A tanker carrying Iranian oil to Syria turned round in the Red Sea to head away from its original destination after the fall of Syrian President Bashar al-Assad, according to ship tracking data.The Suezmax tanker Lotus, carrying around 1 million barrels of Iranian oil…
Idemitsu Tanker Co., Ltd., IINO Kaiun Kaisha, Ltd. (IINO Lines), Nippon Yusen Kabushiki Kaisha (NYK), and Nihon Shipyard Co., Ltd. announced that the consortium established in early 2024 for the joint research and development of an eco-friendly…
The economic incentive to import oil from the U.S. Gulf Coast to Asia has closed as the cost of booking supertankers on the route has surged amid a jump in bookings for the vessels, traders said this week.With the arbitrage for U.S. shipments closed…
Malaysian shipowner AET said it signed a deal with Total's Chartering and Shipping Services SA for the time charter of two liquefied natural gas (LNG) dual-fuel very large crude carriers (VLCC). The two newbuilds, which are able to carry about 300…
Belgium's tanker shipping company Euronav NV has entered into an agreement for the acquisition through resale of three very large crude carrier (VLCC) newbuilds.The three VLCCs are currently completing construction at the DSME shipyard in South…
South Korean shipbuilding major Daewoo Shipbuilding & Marine Engineering Co (DSME) said that it has secured a US$380 million order to build three vessels from Angelicoussis Shipping Group (ASGL), the Greek provider of marine shipping services…
The UK-based maritime classification society Lloyd’s Register (LR) has granted approval in principle (AiP) to a quartet for an LNG-fueled VLCC design that uses a prismatic GTT Mark III membrane LNG tank.The AiP was granted to China Merchants Energy Shipping (CMES)…
The tanker market fundamentals are expected to be strong through the upcoming winter months and into 2020 on the back of firm tanker tonne-mile demand, low fleet growth over the next two years, and supportive near-term factors, including the impact of IMO 2020 and geopolitical factors…
Navios Maritime Acquisition Corporation, the provider of transportation of petroleum products (clean and dirty) and bulk liquid chemicals, announced that its fleet consisted of a total of 41 vessels as of November 7, 2019.The owner and operator of tanker vessels said that out of 41 vessels…
Norwegian investment company Hunter Group said that its wholly owned subsidiary Hunter Tankers has taken delivery of its third newly built very large crude carrier (VLCC) and subsequently delivered it to its new owner.The new VLCC with hull number 5457…
Belgium's Exmar, the Nicolas Savery-led shipowner, reported strong earnings for the very large gas carriers (VLCCs), and midsize gas carriers for the the third quarter of 2019. The current trading fleet of Exmar in the VLGC segment is the 83…
Hunter Tankers, a wholly owned subsidiary of the Norwegian investment company Hunter Group, has taken delivery of its first of seven identical ECO design VLCC newbuildings, the Hunter Atla.The vessel was handed over from the South Korean shipbuilding…