By Ruth Liao (Bloomberg) –Liquefied natural gas shippers increasingly are opting to travel up to two weeks longer and almost 6,000 nautical miles further to bypass the Panama Canal as transporters…
https://gcaptain.com/soaring-fees-at-panama-canal-have-lng-shippers-taking-long-route/
Monjasa acquired Monjasa Leader (68,589-dwt) and Monjasa Refiner (13,051-dwt) for floating storage and bunker operations in West Africa. Monjasa Leader, their largest fleet addition, enhances marine fuel operations with substantial loading capacity. Both vessels underwent refurbishments, aligning them with Monjasa’s fleet design. Photographer Kasper Fuglsang captured striking images of Monjasa Leader near the Rock of Gibraltar before departure.
Monjasa Expands Fleet with Double Tanker Acquisitionhttps://mfame.guru/monjasa-boosts-west-africa-operations-with-key-tanker-additions/
The Suez Canal blockage has delivered a significant boost to marine fuel volumes at Djibouti highlighting the country’s potential as a bunkering location for ships passing through the Gulf of Aden and the Red Sea, reports Ship & Bunker.
Bunker volumes climb highBunker volumes were up by around 25% from their normal levels last week as the 20,000 TEU container ship Ever Given blocked the canal, leaving a queue of ships building either side, a market source told.
“Whilst this was a temporary...
https://mfame.guru/djibouti-in-bunkering-spotlight-amid-suez-canal-crisis/
The volume of crude oil and condensate in tankers worldwide has fallen to a one-year low as the market’s recovery gathers pace, and with a strongly backwardated structure in the Brent crude market discouraging storage, says an article published in S&P Global.
Floating storageFloating storage had risen around the turn of the year due to port congestion off China and southeast Asia, but that situation has eased considerably in the past few weeks, boosted by the oil market’s recent strength,...
https://mfame.guru/oil-market-strengthens-with-lowering-of-floating-storage/
A recent ship and bunker news highlights that red sea bunkering adds floating storage to boost...
https://mfame.guru/top-marine-fuel-supplier-takes-an-oil-products-tanker/
By Andy Hoffman (Bloomberg) — Trafigura Group boosted its shipping fleet by 70% in April last year to profit from the wild price swings in the oil market caused by the…
By Jonathan Saul LONDON, Jan 28 (Reuters) – A plunge in the volume of crude oil stored on ships combined with unexpected cuts from top producer Saudi Arabia have created…
Euronav and Scorpio calls highlight divergence between crude and product tanker markets, reports Freight Waves.
A big seasonal boostSpeaking 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/
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/
Singapore bunker supplier Equatorial...
https://mfame.guru/singapores-emf-to-expand-its-storage-and-digitalize-bunker-processes/