crude tanker

Painful Crude Tanker Market Collapse Awaits As COVID Hangover Continues

Chinese water torture is defined as “a painful process in which cold water is slowly dripped onto the scalp, forehead or face for a prolonged period of time, allegedly making the restrained victim insane”, writes Greg Miller, Senior Editor of Freight Waves in an article investigating the crude tanker collapse. 

Crude-tanker owners and investors may face their own version of this ancient torment. Today’s agonizingly low rates could be just the beginning.

The massive floating storage volumes...

https://mfame.guru/painful-crude-tanker-market-collapse-awaits-as-covid-hangover-continues/

First Bonded Bunkering Operation for Crude Tanker Executed

  • Qingdao Shihua performed the first bonded bunkering operation on a foreign vessel, making it a first for the port.
  • The company conducted market feasibility research with port officials to explore the potential of tapping into bunkering services for large vessels.
  • Compared to previous services available, ships can now be bunkered while loading and unloading cargo in the port saving hours of waiting time.

Qingdao Shihua Crude Oil Terminal Co Ltd (Qingdao Shihua) performed the first bonded...

https://mfame.guru/first-bonded-bunkering-operation-for-crude-tanker-executed/

Ton-mile Demand For Oil Tankers Plunge Due To OPEC Restrictions

  • Ton-mile demand, a proxy for demand for oil tankers has slumped by 18.6 percent.
  • It has dropped to a three-decade low.
  • Exports were drastically cut as part of the OPEC+ deal.
  • It is the steepest fall since the coronavirus started to impact global oil markets.
  • Demand for tankers will be equally depressed in August due to COVID-19.
  • Saudi Arabia refrains from rushing into ramping up crude oil exports.

According to an article published in Oil Price, ton-mile demand, a proxy for demand for oil...

https://mfame.guru/ton-mile-demand-for-oil-tankers-plunge-due-to-opec-restrictions/

Leading Tanker Company To Acquire Stocks at Spot Rates

  • The leading tanker major DHT is back in takeover mode with asset prices poised to fall, DHT preps to buy.
  • The quarterly call of DHT Holdings (NYSE: DHT) was easy listening for its investors. Not so for stockholders of DHT’s competitors, which are much more exposed to spot rates.
  • DHT, unlike almost all other public crude-tanker owners, is heavily shielded from spot downside by time charters.
  • Now, it’s prepping to buy tankers as spot rates slump, ship values fall, and owners without period...

https://mfame.guru/leading-tanker-company-to-acquire-stocks-at-spot-rates/

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