crude tanker shipping

As Red Sea risk spooks container shipping, tankers remain unfazed

Shipping investors love trade disruptions, which generally boost freight rates. The mass diversions of container ships around the Cape of Good Hope are cheered by container shipping stock investors even as pundits and politicians warn of supply chain fallout for consumers and businesses.

Tanker shipping investors look on in envy at container shipping chaos. Tankers, as well as dry bulk vessels, continue to transit the Red Sea and the Bab-el-Mandeb Strait, unbowed by the threat of Yemen’s Houthi...

https://www.freightwaves.com/news/as-red-sea-risk-spooks-container-shipping-tankers-remain-unfazed

How Venezuelan invasion of Guyana could impact tanker shipping

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Shipping already faces fallout from two wars: trade shifts due to Russia’s invasion of Ukraine and...

https://www.freightwaves.com/news/how-venezuelan-invasion-of-guyana-could-impact-tanker-shipping

US pulls trigger on Russian sanctions, blacklists 2 crude tankers

It took a while but it finally happened: The U.S. Treasury Department has begun sanctioning tankers transporting Russian crude oil valued above the West’s price cap.

Since Dec. 5, 2022, the Group of Seven nations, members of the European Union and Australia have barred their countries’ marine service providers from working with tankers carrying Russian crude priced above $60 per barrel. Tankers carrying crude above the cap that use G-7, EU or Australian services have been threatened with...

https://www.freightwaves.com/news/us-pulls-trigger-on-russian-sanctions-blacklists-2-crude-tankers

War in Israel: The new geopolitical flashpoint for ocean shipping

Wars and pandemics — geopolitical and global health crises causing widespread suffering and death — have the side effect of hiking profits in certain industries. Wars inflate returns for defense contractors. The pandemic was a bonanza for certain pharmaceutical companies.

Shipowners have profited from both. Container-line owners made fortunes during COVID. Russia’s invasion of Ukraine buoyed rates for tanker companies.

Now there’s a new geopolitical crisis — the Israel-Hamas war in response to...

https://www.freightwaves.com/news/war-in-israel-the-new-geopolitical-flashpoint-for-ocean-shipping

Tanker shipping’s ‘odd couple’ prepares for divorce

Current ownership of Euronav (NYSE: EURN), one of the world’s largest tanker shipping companies, calls to mind a marriage of convenience doomed to fail from the day of the nuptials.

On one hand, there’s shipping tycoon John Fredriksen and his company Frontline (NYSE: FRO), with a combined 26% stake in Euronav and a focus on building scale in the tanker space. On the other is the Saverys family’s CMB, owning 23% and intent on diversifying Euronav into other shipping segments and developing...

https://www.freightwaves.com/news/tanker-shippings-odd-couple-prepares-for-divorce

Sanctions on Russian crude and diesel exports are failing

a chart showing premium for loading Russian tanker cargoes

Mainstream European tanker owners have largely abandoned the Russian trade now that the country’s crude and diesel have breached Western price caps. The so-called “shadow” fleet — tankers operating outside Western insurance and financial circles — has taken over.

Western sanctions had two goals: First, keep Russian oil flowing, and second, curb oil revenues to Putin’s military. Goal No. 2 is in major trouble. Russia’s export revenues are increasing as the price of its crude and products rises...

https://www.freightwaves.com/news/sanctions-on-russian-crude-and-diesel-exports-are-failing

Russian crude prices have breached the G-7 price cap. Now what?

chart of Russian crude pricing

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The price of Russian Urals crude, exported from ports in the Black Sea and Baltic Sea, is now at or...

https://www.freightwaves.com/news/russian-crude-export-prices-breach-g-7-eu-price-cap-now-what

Shipping faces fallout as China’s post-COVID rebound falls flat

chart showing spot rates from China to the US

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A strong Chinese economy creates a virtuous cycle for ocean shipping. The manufacture of goods...

https://www.freightwaves.com/news/shipping-faces-fallout-as-chinas-post-covid-rebound-falls-flat

European tanker owners make a fortune off Russian oil trade

a chart showing crude and product tanker exports from Russia

The critics were quick to pounce when the EU banned imports of Russian crude and products and the EU and G-7 implemented price caps. It won’t work, they said. There won’t be enough ships to keep Russian trade flowing. Russian diesel and crude production will get shut in. It will lead to a global shortage, causing prices for consumers and businesses to spike. The sanction plan will backfire on Western governments.

None of this happened. The Western plan is working as designed. Russia is being...

https://www.freightwaves.com/news/private-tanker-owners-are-getting-rich-off-russian-price-caps

OPEC+ throws tanker shipping a curveball, shaking confidence

“In classic Murphy’s Law fashion, shipping seems prone to misfortune,” lamented Stifel analyst Ben Nolan in the wake of Sunday’s surprise OPEC+ production cuts. “Things could not have been going more right for the tanker market” until OPEC+ gave tanker owners and investors a “poke in the eye.”

“OPEC+ blindsided oil and tanker markets,” said ship brokerage BRS.

OPEC+ countries, led by Saudi Arabia, agreed to cut production by 1.6 million barrels per day (b/d) starting in May. Analysts say actual...

https://www.freightwaves.com/news/opec-throws-tanker-shipping-a-curveball-shaking-confidence

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