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Tankers & Gas

Stay informed with the latest news, analysis, and insight impacting the crude, LNG, and LPG sectors through our expert coverage

Tankers: Good times roll into 2025

Western sanctions against Russia and the Red Sea turmoil have recalibrated oil trades twice in two years to offset slowing oil demand growth that typically steers tanker freight rates

Mid-Year outlook Tankers and Gas Sanctions

Latest Articles

Crude Tankers

UK-sanctioned Russia-owned tanker reflags to Barbados

Some 25 tankers from the 114-vessel Sovcomflot fleet have been sanctioned by Western regulators since last October for breaching the G7 price cap on Russia’s oil and shipping sectors. Most have reflagged to Russia, with the vessel Liberty the first seen moving to Barbados

Sanctions Regulation

China ‘teapot’ refiners’ June demand slump weighs on VLCC rates

China is the biggest driver of demand for VLCCs, with slowing imports in 2024 reflected in lower spot rates and a fall in shipments from the Middle East Gulf

Tankers and Gas VLCC

Record numbers of larger ships ‘cleaning up’ jeopardise medium range tanker rate recovery in Pacific

Average medium range tanker rates in the Pacific have trailed Atlantic rates since June 26 and are now 31% lower, the greatest deficit seen so far in 2024, Baltic Exchange data show

Tankers and Gas VLCC

SSY hires Frølich from Maersk Tankers for new director role

Industry veteran sets out plans to change perceptions of brokers in Denmark

Tankers and Gas VLCC
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Product Tankers

No survivors found yet from capsized product tanker off Oman

No oil spill has been reported yet. Tanker was sold by a Chinese owner in April and then headed to the Middle East, according to vessel tracking data

Tankers and Gas Casualty

Scorpio discloses more share buybacks

Scorpio Tankers disclosed a further 756,312 in share repurchases after acquiring 641,654 shares in mid-June, for a total of $109.2m. Jefferies said it viewed the acquisitions as ‘attractive’ given Scorpio’s cash flow generation and discount to net asset value

Tankers and Gas Product tankers

The week in charts: Container rates in ‘doom loop’ | Global oil demand continues to slow | Panama Canal transits jump in June

Asia-US west coast spot rates are now on par with Covid-era peaks and the latest report from the International Energy Agency suggests vessels are switching to clean products, which could drive rates down

Week in Charts Containers

Torm boosts MR fleet with more secondhand buys

Denmark’s Torm is set to take delivery of its latest acquisitions by the fourth quarter of 2024 and brings total purchases since January 2023 to 31 ships

Sale and Purchase Consolidation
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LPG

Corpus Christi reopening suggests ‘limited impact’ on crude rates from Hurricane Beryl

Texas ports closed over the weekend ahead of Hurricane Beryl, which made landfall early on Monday as a category 1 hurricane, killing at least three people. The impact on the tanker and gas carrier market will depend on the length of port closures, although the reopening of Corpus Christi port suggests limited impact on crude tankers

Hurricane Season Tankers and Gas

Pertamina and BGN join forces with HD Hyundai to build very large gas carriers

South Korea’s HD Hyundai Heavy Industries will build the ships, which are options on a previous pair of tankers of the same size

Shipbuilding Tankers and Gas

Reconsidering the Big Apple? Avance Gas no longer ruling out US listing

John Fredriksen-controlled Avance Gas has brushed off the idea of a dual US listing in the past because the billionaire’s significant stake in the company would limit trading liquidity. But CFO Randi Navdal told a Marine Money forum in New York on Wednesday that a dual listing could make sense

Tankers and Gas Finance

China now as dominant in shipbuilding as Japan was in the 1960s

Since 2020, Chinese shipbuilders have taken the lead in bulkers, tankers and containerships, according to Clarksons’ data. They have also secured more than half of the orders for alternative fuel-capable vessels

Containers Tankers and Gas
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LNG

LNG carriers begin using the northern sea route

Rosatom, which oversees the northern sea route, has granted permits for several LNG carriers and four Gabon-flagged crude tankers to transit the route using icebreaker assistance

Ship operations Ports and Logistics

Yangzijiang bets on continued shipbuilding boom with $400m new yard plan

The Chinese shipbuilding giant currently boasts a new ship orderbook worth more than $16bn, nearly double the amount at the end of 2021

Tankers and Gas Dry Bulk

The week in newbuildings: More containerships and cruiseships

South Korean shipyard confirms new order for 12 neo-panamax containerships, while Germany’s Meyer Werft wins 4,000-passenger cruiseship from Japanese shipowner

Week in Newbuildings Shipbuilding

Bocom Leasing signs deal for LNG carrier trio

MOL, ENN Natural Gas and Cosco Shipping Energy Transportation previously collaborated on a deal involving a trio of LNG carriers

Finance Tankers and Gas
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