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LNG sails for an unprofitable summer

The unprofitable conditions are expected to continue until October or November, when the seasonal rise because of the northern hemisphere winter is expected to lift rates

International Tankers and Gas LNG
Crude Tankers

Vitol to run bunker operation for major Caribbean terminal

Prostar earlier this year announced it was investing $100m for storage tank upgrades at the terminal

US States Tankers and Gas

Stranded Cosco VLCC waits for rescue off South Africa

Vessel had no cargo on board when the incident occurred

Tankers and Gas Casualty

HHI wins $178m twin VLCC order

Hyundai’s last order was a pair of suezmaxes ordered at the beginning of May, also by an undisclosed European owner

Tankers and Gas VLCC

China Merchants orders two eco VLCCs at DSIC

Deal follows a contract for four VLCC newbuildings signed separately between the two parties in November

China Tankers and Gas
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Product Tankers

Hafnia seeks dialogue after Ardmore rejects ‘takeunder’

The two companies’ chief executives open up on the failed merger attempt that would have created the world’s large product tanker operator

Products Energy

US acts to seize cargoes on four Venezuela-bound Iranian tankers

The four vessels have turned off their identification systems since May and their whereabouts are unknown, but it is unclear how they might be seized unless they enter US territorial waters

International Tankers and Gas

Stolt-Nielsen prepares for tougher times ahead

The company increased contract coverage at better rates to protect its revenue base

International Tankers and Gas

Secondhand market for product tankers drops 15.7%

The low appetite for second-hand product tankers partly indicates that the medium-term outlook remains clouded by uncertainty, said BIMCO's chief shipping analyst Peter Sand

Tankers and Gas Sale and Purchase
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VLGC supply-demand pressure seen continuing

Poten expects to see significant increase in global seaborne supply of LPG with total exports at slightly above 111m tonnes in 2020 and less than 113m tonnes in 2021

International Tankers and Gas

China adds plants to fuel LPG recovery

Dorian expects 20 planned projects to add around 11.9m tonnes per annum of LPG demand through 2023

China Tankers and Gas

Suez Canal extends rebates for bulkers and tankers

The Suez Canal Authority has extended the discounts offered to bulk and liquid carrier transiting the canal until December 31 this year

Dry Bulk Tankers and Gas

How much further can VLGC rates fall?

Owners appear reluctant to charter out their vessels for longer terms, leaving their ships in the spot markets, Poten & Partners noted

Tankers and Gas Freight rates
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Cosco firms up orders of LNG tanker trio

The ordering plan was first unveiled in April when the project was said to be linked with US LNG exports

Asia Pacific China

Thailand to ramp up LNG imports

Thailand’s power generation project developers have made use of record low spot prices to secure LNG supplies  

Thailand Tankers and Gas

Tianjin tops China’s LNG import ports

Tianjin’s LNG imports expanded by a quarter in the first five months over the levels seen in the past year

China Tankers and Gas

Australia expects LNG export earnings to fall 26%

Export volumes are expected to hold steady but these will not assuage the damage from drastic falls in LNG prices

Australia Tankers and Gas
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