Product Tanker

G E Shipping Bolsters Fleet with New Medium Range Product Tanker

In a recent development, the Great Eastern Shipping Company Limited (G E Shipping) has finalized a contract for the acquisition of a Medium Range product tanker, weighing approximately 49,990 deadweight tons (dwt), on June 6, 2024. This vessel, built in 2013, is set to join the company’s fleet during the second quarter of the fiscal year 2024-25.

Current Fleet Overview

G E Shipping currently operates a diverse fleet comprising 43 vessels, which includes 29 tankers (comprising 6 crude carriers, 19...

https://mfame.guru/g-e-shipping-bolsters-fleet-with-new-medium-range-product-tanker/

Red Sea conflict worsens, forcing more ship detours around Africa

U.S. and U.K. airstrikes on Houthi positions in Yemen have not made the Red Sea any safer for shipping. “Red Sea issues are getting worse, not better,” said Stifel shipping analyst Ben Nolan.

The dry bulk carrier Gibraltar Eagle, owned by Connecticut-based Eagle Bulk (NYSE: EGLE), was struck by an anti-ship ballistic missile in the Gulf of Aden on Monday. The dry bulk carrier Zografia, owned by Greece’s Thenamaris, was hit by a missile in the southern Red Sea on Tuesday.

Energy shipper Shell...

https://www.freightwaves.com/news/red-sea-conflict-worsens-forcing-more-ship-detours-around-africa

Red Sea fallout much greater for containers than tankers, bulkers

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Tuesday’s announcement of Operation Prosperity Guardian, a joint military operation to protect...

https://www.freightwaves.com/news/red-sea-fallout-much-greater-for-containers-than-tankers-bulkers

Red Sea chaos should boost tanker and container shipping rates

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The number of shipping companies refusing to risk Red Sea transits is growing by the day. The waters...

https://www.freightwaves.com/news/red-sea-chaos-could-boost-tanker-and-container-shipping-rates

Product Tankers Riding High, Winter Prosperity Ahead?

The tanker stocks are benefiting from the action in product trades as the winter season looms driving demand, says an article published on sea trade website.

Social Media Buzz And Positive Projections

Recent buzz on social media, particularly on X (formerly known as Twitter), has brought attention to the impressive performance of product tanker companies. Investor and analyst Ed Finley-Richardson highlighted sector-wide success, citing Pareto analysts who reported that product tanker names are...

https://mfame.guru/product-tankers-riding-high-winter-prosperity-ahead/

Ocean Yield AS To Invest In Four Product Tankers

Credit: venti-views-tm-unsplash

Ocean Yield AS (“Ocean Yield” or the “Company”) is pleased to announce that it has agreed to purchase four LR1 product tankers to be constructed at Guangzhou Shipyard International (GSI) in China, says an article on Marine Insight. 

Dual Fuel Operation

The vessels will be built with a design enabling them to be converted to dual-fuel operation with methanol as fuel. Upon delivery (in 2026 and 2027), the vessels will commence 15-year bareboat charters to guaranteed...

https://mfame.guru/ocean-yield-as-to-invest-in-four-product-tankers/

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