Shipowners are reportedly reviewing security arrangements for Fujairah and the Strait of Hormuz
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Tanker demolition is not expected to accelerate until the end of the year, when owners will gain clarity about how IMO 2020 will affect market economics. Coinciding with the fourth-quarter rally this could lift rates, particularly in the larger vessel sizes
For May, early tracking shows loadings plunging to around 475,000 barrels per day, but the final destinations are not yet known, says the IEA
Average VLCC earnings touched minus $2,385 per day last week, according to the London-based Baltic Exchange, after briefly reaching $3,024 per day mid-month and have remained below zero this week
On the face of the available data, oil exports from Iran to China appear to be significantly declining as the US ramps up its rhetoric on sanctions against Iran, but these figures will be revised in the weeks ahead as the picture becomes less opaque
Lloyd’s List vessel tracking data reveals how a network of Chinese-controlled tankers are moving Iranian crude and switching off AIS signals before conducting ship-to-ship transfers
UPDATED: Brent crude traded as high as $74.67 per barrel on Tuesday morning, although it later steadied to $74.12 on London’s ICE Futures Europe exchange
The inclusion of PB Tankers in the Ofac listing will be of great concern to other European shipowners who remain involved in the shipment of crude and other petroleum products to and from Venezuela
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