There may be a deepening energy crisis over the next three years due to the shrinking number of oil tankers. Although some maritime industry insiders thought the long decline in…
https://gcaptain.com/a-shrinking-oil-tanker-fleet-may-deepen-the-energy-crisis/
Data from Vortexa, a platform in the energy industry, shows that Iran, Russia, and Venezuela are all vying to sell oil to Asia. According to the analysis, Russia’s growing exports…
https://gcaptain.com/dark-tanker-market-is-getting-competitive/
By Chunzi Xu and Sheela Tobben (Bloomberg) — The global search for fuel after Russia’s war has thrust the US Gulf Coast into the role of a main supplier to the…
https://gcaptain.com/surging-tanker-rates-make-interesting-case-for-jones-act-fleet/
By Sharon Cho (Bloomberg) — For clues on how toxic Russian oil has become, look no further than the trade for tankers that export it. It now costs upwards of $3.5…
https://gcaptain.com/russias-toxic-oil-sends-tanker-rates-into-a-frenzy/
By Bloomberg News (Bloomberg) — The escalating crisis over Ukraine has catapulted the cost of shipping oil by sea. Freight rates for hauling crude from Russia are surging as sanctions imposed…
https://gcaptain.com/oil-tanker-rates-soar-for-key-routes-on-russian-invasion/
By Koustav Samanta (Reuters) Oil tanker rates are soaring globally as traders scramble to cope with jitters over possible disruption in Russian supplies, as well as war risk premiums for ships plying…
By Alex Longley (Bloomberg ) While for many shipping sectors Covid has brought a boom, for oil tankers it has meant loss-making trades for much of 2021 and owners effectively…
Asian spot prices for liquefied natural gas (LNG) and shipping rates to carry the super-chilled fuel soared to unusual highs last week, reports Nasdaq.
What is the reason?According to industry sources, Asian spot prices for liquefied natural gas (LNG) and shipping rates to carry the super-chilled fuel soared to unusual highs on the back of strong demand to restock gas inventories in Europe and Asia.
Highest spot priceAccording to data from price agency S&P Global Platts, Unipec Singapore sold...
https://mfame.guru/lng-spot-price-tanker-rates-unusually-high/
By Jonathan Saul and Laura Sanicola (Reuters) – U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when…
The extension of the Organisation of the Petroleum Exporting Countries plus (Opec+) output cuts into April may lend strength to oil prices, but will intensify the pain felt by the tanker shipping sector, reports The Star.
Production IncreaseNonetheless, analysts believed this would also set the stage for a strong production rebound and a sharp recovery in tanker rates in the second half of this year, which would benefit the likes of MISC Bhd.
“The good news is that oil inventories will continue...
https://mfame.guru/opec-production-cuts-may-lead-to-a-sharp-rise-in-tanker-rates/