RUSSIAN OIL DELIVERY TAKES SEVEN TIMES LONGER AFTER SANCTIONS The delivery of a two-million-barrel cargo of Russian oil to China took seven times longer than it would have done prior to a round of US sanctions imposed on Moscow back in January. The drawn out delivery of Sokol crude from Russia’s Sakhalin 1 project into Chinese storage […]

TANKER MARKET ON THE RISE DURING FEBRUARY The tanker market rose during the month of February, OPEC said in its latest monthly report. Dirty spot freight rates showed gains across almost all monitored routes in February. VLCC rates in particular rose as a fresh round of sanctions resulted in efforts to bring in alternative supplies. […]

TANKERS: SAILING THE SEA OF SANCTIONS The tanker market has been facing a flurry of sanctions of late, with Russian and Iran oil trades in the forefront. In its latest weekly report, shipbroker Gibson said that “just before the end of his presidency, the Biden administration gave a parting gift to the tanker markets as […]

DNV WHITE PAPER ON SAFE AND SCALABLE ADOPTION OF AMMONIA AND HYDROGEN FUELS As the shipping industry continues its transition to carbon-neutral fuels, ammonia and hydrogen are emerging as possible fuel options, however mandatory regulations governing their use are not yet in place. DNV’s latest white paper, Safe introduction of alternative fuels – Focus on […]

US INCREASES SANCTIONS ON IRANIAN OIL AND TANKERS AFTER TALKS ARE REJECTED Hours after reports surfaced that Iran’s supreme leader Ayatollah Ali Khamenei was rejecting Donald Trump’s overtures for new talks, the U.S. Department of the Treasury announced a new round of sanctions targeting the oil industry and tankers. The move by the Office of […]

TANKER WEEKLY MARKET MONITOR: VLCC AG SUPPLY This week’s focus is on the evolution of VLCC net supply growth in the Arabian Gulf (AG), the performance of Baltic Rates, and a comparative analysis of Gross Supply versus Cargo Demand over the next 10, 20, and 30 days. VLCC Net Supply Trends, Baltic Rates Performance & […]

BULKER NEWBUILDING CONTRACTING PLUNGES 92% TO LOWEST LEVEL IN DECADES in Dry Bulk Market,International Shipping News 14/03/2025 “During the first two months of 2025, bulker newbuilding contracting dropped 92% y/y to the lowest level in at least 30 years. While contracting in January was low, no new ships were ordered in February. Weak freight rates, […]