Tankers & Gas
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Economou contracts four VLCCs at Hengli
Firm quartet of 306,000 dwt vessels is added to one of the largest tanker construction programmes of any independent shipowner
Ukrainian attacks change the balance of Russian crude and products exports
Less Russian diesel is reaching the seaborne market as Ukraine intensifies its attacks on Russian energy infrastructure. Buyers of Russian diesel are sourcing elsewhere, affecting product tanker tonne-mile demand
Economou contracts four VLCCs at Hengli
Firm quartet of 306,000 dwt vessels is added to one of the largest tanker construction programmes of any independent shipowner
Asian VLCC rates poised for gradual declines despite recent uplift
But VLCC rates are expected to remain higher than late-September to mid-October with winter demand, increased Opec+ production
Ship recycling activity hits five-month low amid steel market weakness
Vessel beachings in October included seven tankers, five bulk carriers and three containerships
Greek shipowners lead crude tanker newbuilding order spree as shipyard slots tighten
The VLCC orderbook has now surpassed 140 ships, representing around 15% of the existing fleet, while the suezmax orderbook equates to over 20% of the current fleet
Hellas Aphrodite crew liberated by navy
The ship’s crew were liberated by a EU Navfor vessel after several hours in the vessel’s citadel
Scorpio Tankers to replace 2014-built MRs with Chinese newbuilds in $180m deal
The deal continues chief executive Emanuele Lauro’s strategy to modernise the fleet while reducing debt
D’Amico: We didn’t expect this market to last as long as it has
On the back of another healthy quarter, d’Amico chief executive Carlos Balestra di Mottola cited the ‘exceptional circumstances’ that are keeping product tanker rates high
VLGC win streak continues as geopolitics pumps up rates yet again
No matter what happens in the next two months, 2025 will go into the books as a very good year for VLGCs. Rates in November have started out strong, buoyed by the positive outcome from the US-China trade negotiations
Sanctioned LPG fleet swells in October but impact remains to be seen
The US announced sweeping sanctions on Iran’s LPG shadow fleet last month, bringing the total of Iran-trading LPG carriers designated by Ofac to over 40%. Whether that impacts Iran’s LPG supply chain remains to be seen
More LPG carriers are spoofing loadings in Russia. It’s not entirely clear why
The gas carriers are employing the playbook of vessels moving sanctioned oil and gas cargoes, but the reason is unclear. Russian LPG is not subject to restrictions under the G7 price cap and is only subject to some import restrictions by the EU
The week in charts: CMA CGM eyes ULC Red Sea transit | Is proposed Panama LPG pipeline a ‘solution in search of a problem’? | Vessel debuts new jetty at Houthi-held port
Lloyd’s List’s weekly showing of the data and figures behind our news, analysis and markets coverage
VLGC win streak continues as geopolitics pumps up rates yet again
No matter what happens in the next two months, 2025 will go into the books as a very good year for VLGCs. Rates in November have started out strong, buoyed by the positive outcome from the US-China trade negotiations
Samsung Heavy expands MASGA efforts through partnership
South Korean shipbuilder plans to accelerate its expansion into global markets, including North America and Southeast Asia, with new agreement
Adani Ports’ logistics division grows 92% in first half of FY2026
Cargo handling volumes rise 11% year on year, with the port operator handling 45.5% of India’s container throughput
Global LNG trade flows teeter on knife’s edge ahead of EU’s due diligence rules
More LNG could be diverted to Asia instead if Corporate Sustainability Due Diligence Directive is adopted as exporters look to circumvent penalties associated with it
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