The vessels are equipped with modern eco-design features including exhaust gas cleaning systems

Below-average oil inventories, lower fleet-to-orderbook ratios and rising scrapping are expected to lift rates next year

Any increase in oil demand will be met by rising supplies as stock depletes, which will be positive for the tanker market as it expands seaborne volumes boosting tonnage demand

Orders are forecast to rise to 100m barrels per day by the end of the year or in the first quarter of next year

Hafnia and Evercore have cited the drawdown of the land-based surplus of crude and products as positive for tanker markets

The product tanker owner agrees with 10 banks on its first ever syndicated sustainability-linked financing deal. Its fleet’s emissions performance will affect future margin adjustments

How quickly and effectively coronavirus vaccine is rolled out globally will determine timing of the rebalancing oil tanker market, company says

‘This is a significant impact to one of the world’s largest concentrations of olefins capacities, just under 20% of the global total, and tops recent disruption seen in August 2020 from Hurricane Laura,’  WoodMac’s analyst says 

Delays through the Panama Canal may also force vessels to re-route via the Cape of Good Hope or Suez Canal, stretching the VLGC fleet

The two vessels are the first order that the Cosco Shipping unit has placed since it was established in 2019, which will add to its existing six-ship fleet

Poten’s LPG consultant Shantanu Bhushan estimates that liquefied petroleum gas exports from the US may require around 163 VLGCs this year due to the current waiting period in the canal, which is up 12% as compared with the previous year

According to the Japanese shipyard, the advantage of this dual-purpose vessel is its capability to simultaneously carry LPG, which is already used as a low-carbon energy source, and liquefied ammonia, a new fuel contributing to the establishment of a decarbonised society

US exports in September already gained 73% compared with the same period a year ago, as demand for vessels intensifies

While the liquefied natural gas market continues to perform well, earnings before interest, tax, depreciation and amortisation in the fourth quarter will be negatively affected by off-hire time for one of its vessels ahead of a long-term charter commitment

A spokesperson from the European Commission said the clock has been stopped for its investigation into the deal because of ‘an important piece of information’ was missing

Move signals commitment ‘to achieve significant near-term reduction’ in emissions, says chief executive Maria Angelicoussis