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

Turkish embargo to hit containerships, bulkers and general cargo vessels

Mid-sized tanker specialist Teekay Tankers is primed to capitalise on the new TMX pipeline as emerging routes should boost demand for aframaxes. The company reported strong first-quarter earnings as it achieved near-record rates

New technical, commercial and shipmanagement structures established to move tankers, underscoring what many describe as a giant game of regulatory ‘whack-a-mole’ under way in sanctions compliance and enforcement for the G7 oil price cap

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

Global container volumes extend their upward trajectory in March, a product tanker was the target of an attempted piracy attack off the coast of Somalia and Panama Canal continues to recover after drought

Amid a potential takeover by Saltchuk Resources, OSG reported another strong quarter, with earnings growing 35% year on year. Chief executive Sam Norton said the high-rate environment for international tankers was supporting domestic transportation of fuels, boosting demand for Jones Act tankers

A European warship responded first to the incident and apprehended the suspected pirates, treating some with "injuries of varied severity" 

The two 25,000 cu m newbuildings are capable of carrying liquefied petroleum gas and ammonia

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

Commodities trading giant Trafigura has penned newbuilding contracts for four ammonia dual-fuel liquefied petroleum gas carriers, which will also be capable of ammonia carriage

Scrutiny of Iran’s sanctioned energy trade tends to centre on the oil exports and the dark fleet servicing it. However, robust Chinese demand, coupled with growing Iranian output and deep discounts have propelled Iran’s liquid petroleum gas exports far above pre-sanctions levels, helped by a growing fleet of ageing gas carriers

The 12-year charter comprises rentals of up to $200m in line with the vessel transfer price and around $117.8m in interest

Adnoc Logistics & Services continued its fleet expansion strategy with new LNG carrier orders, after it took delivery of four VLCCs in 2023

Danish Ship Finance believes structurally declining demand and continued high newbuilding costs will force shipping to embrace more long-term contracts and tap more institutional money in the decades ahead

Latest round of EU sanctions will target LNG transhipment operations, but will stop short of restricting Russian gas imports amid a finely balanced energy market and warnings of energy security disruptions