VLCC specialist Tankers International is projecting effective vessel supply growth of only 1% in the next three years due to the declining usable capacity of a rapidly-ageing global VLCC fleet.
VLCC
Texas Oil Export Port To Get Trump Team’s Blessing
By Ari Natter and Jennifer A. Dlouhy Feb 14, 2025 (Bloomberg) –Transportation Secretary Sean Duffy said the Trump administration planned to “move forward” with approval of a Texas port capable of…
https://gcaptain.com/texas-oil-export-port-to-get-trump-teams-blessing/
Tanker Owners Cash In on a Seller’s Market
By Ira Breskin NEW YORK — This is a seller’s market for tankers. That was the consensus of industry experts speaking here this week at the 31st annual Hellenic-American/Norwegian-American Chambers…
https://gcaptain.com/tanker-owners-cash-in-on-a-sellers-market/
Trump’s First Iran Sanctions Hit Three Ships in China Trade
President Donald Trump’s maiden sanctions package targeting a handful of vessels carrying Iranian oil stopped short of the “maximum pressure” campaign his administration had pledged, according to shippers and analysts.
https://gcaptain.com/trumps-first-iran-sanctions-hit-three-ships-in-china-trade/
Oil Tanker Attacked Last Year Crosses Red Sea as Houthi Ceasefire Holds
Liberian-flagged crude oil tanker Chrysalis, which was attacked by Yemen’s Houthis last year, sailed through the Red Sea this week, the Suez Canal said on Monday, in one of the first voyages since the militia announced a halt in attacks on ships not linked to Israel.
https://gcaptain.com/oil-tanker-attacked-last-year-crosses-red-sea-as-houthi-ceasefire-holds/
Russia Oil Trade to China, India Stalls as Sanctions Drive Up Shipping Costs
Trade for March-loading Russian oil in top buyer Asia has stalled as a wide price gap between buyers and sellers emerged in China after costs for chartering tankers unaffected by U.S. sanctions jumped, according to traders and shipping data.
https://gcaptain.com/russia-oil-trade-to-china-india-stalls-as-sanctions-drive-up-shipping-costs/
Russian Oil Freight Rates Soar on Sanctions-Driven Tanker Shortage
Freight rates for Russian ESPO Blend oil loading from the Far Eastern port of Kozmino have jumped fivefold amid a lack of vessels after fresh U.S. sanctions cut availability of tankers, three traders said and data showed.
https://gcaptain.com/russian-oil-freight-rates-soar-on-sanctions-driven-tanker-shortage/
Oil Tankers Reroute to Russian Pacific Port Hobbled by Sanctions
Tankers that used to haul oil from Russia’s western ports are being redeployed to the nation’s east to service a key crude route to China that’s been crippled by sweeping US sanctions.
https://gcaptain.com/oil-tankers-reroute-to-russian-pacific-port-hobbled-by-sanctions/
Oil Supertanker Rates on China Routes Double Since Sanctions
The cost to hire an oil supertanker on key routes to China has doubled since the US imposed sanctions on Russia, showing the extent to which the move has upended the global shipping market.
https://gcaptain.com/oil-supertanker-rates-on-china-routes-double-since-sanctions/
Russian Crude Oil Piles Up Near Chinese Coast After US Sanctions
The amount of oil stranded off the Chinese coast is growing as traders, refiners and shipping companies try to avoid being caught up in the US’s strictest-ever sanctions on Russian energy flows.
https://gcaptain.com/russian-crude-oil-piles-up-near-chinese-coast-after-us-sanctions/