Tankers & Gas
Stay informed with the latest news, analysis, and insight impacting the crude, LNG, and LPG sectors through our expert coverage
Growing sanctioned trade squeezes tanker markets, but China’s appetite peaks
Sanctioned oil now accounts for about 30% of crude imports in China and India, pressuring mainstream tanker markets, according to Vortexa. But this trend may soon reverse as Chinese demand for sanctioned barrels peaks and Opec supply rises
Tankers: geopolitics will be wildcard, but demand is fundamentally unexciting
Predicting what happens in the second half of the year with tankers (or any other shipping segment) may be a fool’s game, given all of the geopolitical chaos. But the base case for tankers is for steady, uninspiring profitability, as the fundamentals are not particularly strong
Rare aframax resale hints at downward price shift
But brokers cite a variety of factors that suggest any price drop is not by very much
Growing sanctioned trade squeezes tanker markets, but China’s appetite peaks
Sanctioned oil now accounts for about 30% of crude imports in China and India, pressuring mainstream tanker markets, according to Vortexa. But this trend may soon reverse as Chinese demand for sanctioned barrels peaks and Opec supply rises
Threats to Russian oil flows intensify but exports keep chugging along
It looks like the status quo will prevail for Russian exports of crude and products. US president Donald Trump’s threat of eventual tariffs on buyers of Russian exports is being viewed, for now, as a non-event
Red Sea traffic remains unchanged by resurgent Houthi attacks
There were 244 transits through the Bab el Mandeb last week, up from 232 the week prior
Ship recycling tonnage in June lifted by big bulkers and a gas carrier
A total of 22 merchant vessels, of a combined 676,976 gt, were beached at recycling destinations in June, Lloyd’s List Intelligence data shows
Crew evacuated after explosion rocks Hong Kong-flagged product tanker off Kandla
All 21 crew members were safely evacuated, and authorities have launched an emergency pollution prevention response
ITF staff vote for strike action for the first time in 129-year history
The union claims the ITF is planning to cut a quarter of the workforce this year in restructuring
Toro launches offer to buy back up to 4.5m shares
Buyback scheme starts as Petros Panagiotidis-led company agrees to sell LPG carrier to new spin-off Robin Energy
Limpet mine attack suspected cause of StealthGas blast
All 23 crew are reported safe and the liquid ammonia spill caused by the blasts is ‘minor’ and under control. But if the cause of this latest explosion is proven to be another limpet mine attack, as senior sources close to the company suspect, this will be the sixth such attack this year with no culprits yet identified
Ras Isa vessel queue dissipates amid sanctions and security threats
The long queue of oil and gas tankers awaiting off the Houthi-controlled fuel port of Ras Isa has dissipated in recent weeks amid the mounting security and sanctions threat
First two-stroke ammonia engine delivered to Exmar newbuild in South Korea
First two-stroke, ammonia-fuelled engine delivered for lead ship in series of four gas carriers for Nicolas Saverys-controlled shipowner
LNG bunkering surges in Shanghai and Shenzhen in first half as Singapore falters
More LNG-powered ships are coming, driving urgent demand for expanded bunkering capacity
Hyundai LNG sells second steam turbine gas carrier for scrap
Ship recyclers remain starved of tonnage but rising steel plate prices could lead to more owners selling aged ships for scrap
Ship recycling tonnage in June lifted by big bulkers and a gas carrier
A total of 22 merchant vessels, of a combined 676,976 gt, were beached at recycling destinations in June, Lloyd’s List Intelligence data shows
USTR urged to kill proposed rules on vehicle carriers and LNG shipping
America’s port fee plan is rife with unintended consequences. Proposals targeting vehicle transport and LNG shipping are prime examples of how port fees could backfire, hurting US interests and doing nothing to penalise Chinese shipbuilding
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