Crude Tankers

The rise of crude tanker ‘cannibals’ in wake of Russia-Ukraine war

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The Ukraine-Russia war has rerouted crude tanker flows over the past year, equating to higher...

https://www.freightwaves.com/news/the-rise-of-crude-tanker-cannibals-in-the-wake-of-war

Will energy transition lead to boom or bust for crude tankers?

picture of a crude tanker

If you believe decarbonization will ultimately happen and the world will transition away from oil in the coming decades, how will that play out for crude tankers?

In one scenario, tankers are left with too few cargoes before they fully depreciate. Owners are stuck with big losses. As a tanker company CEO once told American Shipper, not for attribution, “Think about it. If everybody wants to decarbonize, what do I move? I move carbon.”

In another scenario, at the other end of the spectrum, new...

https://www.freightwaves.com/news/will-energy-transition-lead-to-boom-or-bust-for-crude-tankers

BIMCO: VLSFO premium of $200/tonne increases scrubber advantage

Niels Rasmussen, chief shipping analyst at BIMCO, says that the current $200 per tonne price spread between very low sulfur fuel oil (VLSFO) and high-sulfur fuel oil (HSFO) is increasing the advantage of ships fitted with exhaust gas scrubbers.

The price gap between VLSFO and HFSO has widened following Russia’s invasion of Ukraine, although the price of HSFO could rise should the volumes of Russian HSFO coming into the market start declining due to sanctions.

The entry into force of the IMO 2020 f...

https://www.marinelog.com/legal-safety/shipping/bimco-vlsfo-premium-of-200-tonne-increases-scrubber-advantage/

Crude Tanker market still showing signs of volatility into 2021

Crude Tanker market still showing signs of volatility into 2021

From rates soaring to record highs in 2020 to Covid-19 crippling some shipping markets more than others, Charlotte Cook, Head Trade Analyst, assesses the ups and downs of the Crude Tanker market in recent months and how things look for the sector moving forward.

“…Last year was a significant year for the Crude Tanker market, as rates soared to record highs from mid-March through to early May due to the very low oil price at the time...

https://allaboutshipping.co.uk/2021/04/09/crude-tanker-market-still-showing-signs-of-volatility-into-2021/

Q3 Report on Shipping Stocks

  • This should not be surprising given the strength in consumer spending and e-commerce.
  • It should not come as a shock that tanker and dry bulk [stocks] are down, given that demand for the products they carry is down and consequently so are freight rates.
  • In dry bulk, shipping equities are universally lower, [but] iron-ore mining companies are up 42% year-to-date and the S&P materials index is up 16%.
  • Two main factors drive the stocks of container-ship owners that rent vessels to liners:...

https://mfame.guru/q3-report-on-shipping-stocks/

3 New VLCCs Join Oman Shipping’s Massive Fleet

  • The delivery of Sur, a 300,000-tonne crude tanker, is set to bolster Oman Shipping’s VLCC fleet size to 18 ships in total.
  • Sur is one of three of three environment-friendly VLCCs ordered by Oman Shipping in a deal concluded with DSME in June 2019.
  • All three VLCCs are 336-metres-long and 60-metres-wide and capable of holding 300,000 tonnes of cargo.
  • Oman Shipping Company is owned around 80 per cent by Oman Global Logistics Group  with OQ and Oman Rail sharing the balance 20 per cent of the...

https://mfame.guru/3-new-vlccs-join-oman-shippings-massive-fleet/

Experts Call Divergence Between Crude and Product Tanker Markets

Euronav and Scorpio calls highlight divergence between crude and product tanker markets, reports Freight Waves.

A big seasonal boost

Speaking on Thursday’s call with analysts, De Stoop was explaining why Euronav is pulling forward required drydockings from H1 2021 and will drydock nine of its tankers — 15% of its fleet — this month and December.

“When you’re in the drydock, you’re not earning money,” he said. “It’s like those guys retrofitting scrubbers in a market that was absolutely fantastic...

https://mfame.guru/experts-call-divergence-between-crude-and-product-tanker-markets/