Product Tankers

How are tankers coping with floating-storage hangover?

empty glass

In the COVID era, tanker markets change more quickly and the past is not necessarily prologue. What matters in quarterly reports is what executives say about the present and future, far more than what they say about the latest quarter.

Two of the world’s largest public tanker owners — Euronav (NYSE: EURN) and Scorpio Tankers (NYSE: STNG) — reported results on Thursday. Two key takeaways emerged from the conference calls.

First, floating storage is coming down from its peak, faster for refined...

https://www.freightwaves.com/news/how-are-tankers-coping-with-floating-storage-hangover

E4C Orders World’s Fuel-efficient Product Tankers

  • E4C Shipping confirms an order of 2 – 4 MR products to be built by Hyundai Mipo Dockyard Ltd.
  • E4C is comprised of entities and individuals.
  • It is affiliated with ECCO Holding, Gunvor Group Ltd, and Dee4 Capital Partners.
  • The vessels will be amongst the most fuel-efficient product tankers operating in the world.
  • It possesses substantial savings on CO2 emissions as against existing tonnage on the water.
  • It will benefit the environment and in savings to the owners and charterers of the vessels.

Ac...

https://mfame.guru/e4c-orders-worlds-fuel-efficient-product-tankers/

CSSC Orders Two 50,000 dwt Dual Fuelled Product Tankers

CSSC Shipping orders two product tankers for Louis Dreyfus charter at Chengxi Shipyard, says an article published in Splash 247.

About the order 

CSSC Shipping, the financial leasing unit of China State Shipbuilding Corporation, has placed an order for the construction of two 50,000 dwt product tankers at Chengxi Shipyard. The price for each newbuilding is about $43m.

Vessels charter plan

Intermodal reported that the dual fuelled vessels will be chartered to commodity trader Louis Dreyfus under a...

https://mfame.guru/cssc-orders-two-50000-dwt-dual-fuelled-product-tankers/

Tanker stocks are sinking toward the bottom

underwater

With the first half in the rearview mirror, it’s time to take stock of shipping shares. How did they fare, particularly the tanker equities that stole the spotlight? 

FreightWaves ran the numbers on the larger U.S.-listed ship owners — and not to rub salt in the wound, but the numbers are ugly.

Among the larger companies, the best-performing stock by far is Nordic American Tankers (NYSE: NAT), an owner of Suezmax tankers (tankers that carry 1 million barrels of crude).

The worst performer by far...

https://www.freightwaves.com/news/tanker-stocks-are-sinking-toward-the-bottom

China congestion and stubborn storage buoy tanker rates

crude tankers

Good news for tanker rates: Port congestion is on the rise, particularly in China. Floating storage is down from its peak, but there’s a very long way to go before all those cargoes are unloaded. And on the tanker supply side of the equation, surging congestion in China is offsetting declines in floating storage.

The longer the global tanker fleet suffers supply chain logjams and the longer storage cargoes remain on board, the fewer ships are available for spot deals. That’s a plus for spot...

https://s29755.pcdn.co/news/china-congestion-and-stubborn-storage-buoy-tanker-rates

Tanker takeover talk heats up

product tanker

Trading of Ardmore Shipping (NYSE: ASC) shares surged to over 10 times normal volume on May 26. Shares closed up 18%. Industry publication Tradewinds attributed the jump to takeover talk. A banking source speaking to FreightWaves agreed. He was getting a lot more client calls than usual about Ardmore over the prior week.

The mystery of that late-May rumor is solved — probably. Loose lips appear to have been whispering about Hafnia Tankers (Oslo: HAFNIA), which is 65% owned by the BW Group.

Hafnia...

https://www.freightwaves.com/news/tanker-takeover-talk-heats-up

Seafarers still stranded at sea — and more test positive

tanker

Shipping groups and seafarer unions are desperately trying to convince governments to allow crew the right to transit after work contracts expire. Most governments still haven’t listened. An estimated 200,000 crew remain stranded at sea, unable to get back to their homes after their initial work contracts expired.

It will be even harder to convince governments to allow seafarers passage through their ports and airports if more shipboard outbreaks occur. And while still relatively rare, new...

https://s29755.pcdn.co/news/seafarers-still-stranded-at-sea-and-more-test-positive

PureSOx Express Makes Scrubber Installation in Handymax Bulkers Easy

  • For smaller vessels like handymax bulkers or product tankers, the cost of installing a scrubber for SOx compliance has sometimes outweighed the benefits.
  • Now Alfa Laval PureSOx Express makes it simple for these vessels to continue using HFO and comply with SOx regulations.

A recently published article in Alfalaval deals with smaller vessels installing a scrubber for SOx compliance with much benefits.

New PureSOx Express

The new PureSOx Express is an open-loop PureSOx system, but one delivered as...

https://mfame.guru/puresox-express-makes-scrubber-installation-in-handymax-bulkers-easy/

Tanker stocks eke out more gains as storm clouds gather

crude tanker

The Dow jumped 829 points Friday on shockingly high U.S. jobs numbers. Even in the topsy-turvy world of tanker stocks, where good news can often be bad news, equities ended green across the board.

Tanker stocks posted low- to mid-single-digit gains on below-average trading volumes. Nordic American Tankers (NYSE: NAT) rose by 7.8%, Teekay Tankers (NYSE: TNK) by 6.1%, International Seaways (NYSE: INSW) 5.8%, Scorpio Tankers (NYSE: STNG) 5.5%, DHT (NYSE: DHT) 4.1%, Frontline (NYSE: FRO) 2.6% and...

https://www.freightwaves.com/tanker-stocks-eke-out-more-gains

IMF develops real-time intel on container, tanker, bulker moves

containers

The modern history of global trade will be divided into B.C. and A.C. — before-corona and after-corona. What happened B.C. might as well have occurred in an alternate universe and the pace of change A.C. is so frenetic that even one-month-old data has lost much of its value.

With make-or-break business decisions in the balance, the focus has predictably turned to data that signals future trends, such as container-shipping “blank sailing” information from companies such as eeSea and...

https://s29755.pcdn.co/news/imf-develops-real-time-intel-on-container-tanker-bulker-moves

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