Hamilton-based tanker shipping company Teekay Tankers plans to install Shipshave, a semi-autonomous hull cleaning […]
The post Teekay Tankers to install Shipshave on four ships in 2023 appeared first on Offshore Energy.
https://www.offshore-energy.biz/teekay-tankers-to-install-shipshave-on-four-ships-in-2023/
Teekay Tankers, one of the world’s leading providers of international seaborne transportation of oil, […]
The post Teekay Tankers resorts to engine power limitations to meet EEXI appeared first on Offshore Energy.
https://www.offshore-energy.biz/teekay-tankers-resorts-to-engine-power-limitations-to-meet-eexi/
“In classic Murphy’s Law fashion, shipping seems prone to misfortune,” lamented Stifel analyst Ben Nolan in the wake of Sunday’s surprise OPEC+ production cuts. “Things could not have been going more right for the tanker market” until OPEC+ gave tanker owners and investors a “poke in the eye.”
“OPEC+ blindsided oil and tanker markets,” said ship brokerage BRS.
OPEC+ countries, led by Saudi Arabia, agreed to cut production by 1.6 million barrels per day (b/d) starting in May. Analysts say actual...
https://www.freightwaves.com/news/opec-throws-tanker-shipping-a-curveball-shaking-confidence
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There have been two historic shipping booms since the turn of the century. Could a third be around...
https://www.freightwaves.com/news/in-search-of-shippings-next-supercycle-are-tankers-next
Is the shift in global crude flows due to the Ukraine-Russia war a fleeting event or a more lasting, structural change?
At first, many market watchers and investors viewed it as short-lived. It now seems like something to count on for at least the medium term. More Russian crude will likely head to India and China for a longer period of time, and more Atlantic Basin and Middle East crude will head to Europe to replace Russian barrels.
“Oil supply chain disruptions related to Russia’s invasion of...
https://www.freightwaves.com/news/war-effect-on-crude-trade-long-lasting-and-just-beginning
The Dow Jones Transportation Average has slumped 11% since late March on fears of waning domestic demand. Container shipping stocks have been dragged down along with domestic transports.
Not so with commodity shipping stocks, which have very different drivers. Tanker, gas carrier and dry bulk shipping equities are heading up.
Shipping stock charts were awash in double-digit green numbers on Thursday, a day when the main indexes were in the red.
Tsakos Energy Navigation (NYSE: TNP) and Teekay...
https://www.freightwaves.com/news/commodity-shipping-stocks-are-trouncing-dow-transport-average
Impact Today has released its new white paper which calls for the maritime sector to create a new data standard aimed at evolving noon reports into holistic vessel reports to support vessel and…
Group of 14 organisations including ZeroNorth, EuroNav, FedNav, Q88, Ultrabulk, Teekay Tankers and Siglar Carbon proposes evolution of noon reports into holistic vessel reports that match data gathering to the optimisation needs of the industry
Copenhagen, Denmark; 12 April 2022: Industry working group Impact Today has released its new Vessel Reporting and Data Quality white paper, which calls for the maritime sector to create a new data standard aimed at evolving...
One of the axioms of shipping is that war can boost freight rates and share prices, particularly for tankers.
Since Russia invaded Ukraine last week, tanker shares have indeed outperformed, but upside is not evenly spread and gains have eased.
Container and dry bulk stocks have been largely treading water, with multiple names underperforming the S&P 500, particularly on the dry bulk side.
Retail traders fueling tanker stocks
“There are always winners and losers and shipping markets have proven to...
https://www.freightwaves.com/news/tanker-shares-jump-as-war-rages-other-shipping-shares-mixed
The outlook for tanker rates was already dicey. After the worst year in three decades in 2021 and a terrible start to 2022, analysts have just cut their rate forecasts and pushed back their recovery timelines, yet again.
As one tanker owner told brokerage Fearnleys, “The light at the end of the tunnel has been visible for quite some time, but right now it feels more like that’s a truck coming toward you.”
Jefferies
Jefferies analyst Randy Giveans cut his tanker rate estimates on Wednesday, the...
https://www.freightwaves.com/news/how-low-can-tankers-go-analysts-slash-rate-forecasts-again