Tankers & Gas
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Ukraine Black Sea strikes could further disrupt Russia’s refinery capacity
The extent of the damage caused to the Tuapse refinery is not yet clear, but operations had only restarted after the complex was shutdown by a drone strike hit in January
Product tanker owners savour heady mix of geopolitics, strong demand and shrinking debt
Earnings of product tanker owners have been juiced by trade disruptions from the Russia-Ukraine war and the Houthi attacks in the Red Sea. With lower debt and rising customer interest in long-term charters, owners are looking to ride the upcycle for longer
Ukraine Black Sea strikes could further disrupt Russia’s refinery capacity
The extent of the damage caused to the Tuapse refinery is not yet clear, but operations had only restarted after the complex was shutdown by a drone strike hit in January
Tanker freight rates strengthen even as electric cars weigh on oil demand growth
Slowing demand for middle distillates, such as diesel, gasoil and jet fuel, underpinned this month’s lower oil demand growth forecast of 1.1m bpd, to reach 103.2m bpd in 2024
The price of Navios and the pure play vs diversified fleet debate
The price of Navios Partners’ common units has been catalysed in 2024 by equity purchases of CEO Angeliki Frangou, not a sudden change of heart among investors on the company’s diversified-fleet model
US-sanctioned Hennesea tankers turn to fake flag of Eswatini
The future of Hennesea’s sanctions-busting tankers perceived as the first real test of the efficacy of enforcement and compliance of the G7 oil price cap imposed on Russia nearly 17 months ago
Ukraine Black Sea strikes could further disrupt Russia’s refinery capacity
The extent of the damage caused to the Tuapse refinery is not yet clear, but operations had only restarted after the complex was shutdown by a drone strike hit in January
China’s Zhoushan Changhong secures order for up to six tankers
The newbuildings will be delivered from 2026 to 2027
D’Amico family sells $43.7m of shares in tanker outfit
Italy’s d’Amico International, a holding company that owns the majority of Milan-listed d’Amico Shipping, sold $43.7m of shares in the tanker outfit to increase trading liquidity. The move reduced its holding by 5% to 60.65%
The week in newbuildings: SC Shipping boosts chemical tanker orderbook
Chinese chemical tanker operator SC Shipping has confirmed a second order for 25,900 dwt stainless steel ships, after signing up for five vessels in April
Avance Gas generously rewards shareholders in ‘blockbusting’ quarter
Oslo-listed Avance Gas reported a record quarter that was driven by sales of three ships, but also strong freight earnings. The company announced a $2.15 per share dividend, of which $0.99 is structured as reduction in par value of the share, and the remaining $1.16 is a regular dividend
As shipping stocks soar, controlling shareholders reap the rewards
Shipping stocks have rallied to new highs in recent days, but longer-term gains are even more impressive. Over the past half-decade, larger-cap shipping stocks have outpaced the S&P 500 by between two and 10 times. Insider wealth from shipping ownership has surged by hundreds of millions
Huangpu Wenchong wins landmark order for ammonia dual-fuel gas carriers
The two 25,000 cu m newbuildings are capable of carrying liquefied petroleum gas and ammonia
Widening arbitrage fuels VLGC rate recovery from winter lows
The propane price differential between the US and Asia continues to widen, a boon for VLGC freight rates. However, analysts are pointing to potential headwinds in the coming months that could limit rate recovery
Seeing is believing as Greek shipyards find saviours
The picture for Greece’s shipyard sector is looking much brighter as it undergoes a remarkable transformation after decades of gloom
Global alternative fuel demand could exceed 10m tonnes in 2026
Biofuels and LNG to increase bunker market share until 2030 on the back of stricter environmental regulations, such as FuelEU Maritime and CII
MISC, Petronas and MOL form joint venture to develop LCO2 carriers
Japan considers Malaysia a viable CO2 storage site as it strives to achieve carbon neutrality by 2050
As shipping stocks soar, controlling shareholders reap the rewards
Shipping stocks have rallied to new highs in recent days, but longer-term gains are even more impressive. Over the past half-decade, larger-cap shipping stocks have outpaced the S&P 500 by between two and 10 times. Insider wealth from shipping ownership has surged by hundreds of millions
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