Tankers & Gas
Stay informed with the latest news, analysis, and insight impacting the crude, LNG, and LPG sectors through our expert coverage
Dark fleet operator Gatik reflags four tankers with Mongolia
Having been deflagged and removed from P&I cover because of its involvement in moving Russian oil, the world’s largest operator of dark fleet vessels, Gatik Ship Management, has turned to landlocked Mongolia to keep at least four of its tankers in business
EU persists with dark fleet sanctions despite enforcement difficulties
European Commission plans to ban ships engaging in deceptive practices including illicit ship-to-ship transfer operations and ‘dark’ AIS voyages as the EU considers its 11th package of sanctions, but concerns remain regarding legal and practical enforcement details yet to emerge
A Flag of Convenience is one thing. A Flag of Last Resort is another
Sanctions are only going to get more extensive. The past week shows that everybody in the industry — from Ulaanbaatar to the outskirts of Bristol — would benefit from greater situation awareness
Imabari Shipbuilding chief urges Japanese yards to combine design strength
Individual shipyards in Japan should form an alliance or combine their ship design, research and development division under the Japanese Shipbuilding Association, argues influential Imabari head Yukito Higaki
BIMCO and Danish Shipping appoint new heads
Nikolaus Schües takes over from Sabrina Chao as president of BIMCO. Meanwhile, Jacob Meldgaard stands down from Danish Shipping as Torben Carlsen becomes its new chairman
Suez Canal groundings double this year
While incidents are comparatively higher than previous years, the overall impact on traffic flow is often minimal given the Suez Canal Authority’s quick response time
World’s first electricity carrier unveiled in Japan to facilitate energy transition
The world’s first ‘battery tanker’ has been unveiled in Japan amid plans to catalyse the storage, supply, and utilisation of renewable energy
‘Firm’ tanker rates underpin MISC’s strong first quarter
MISC warns of some moderation in overall average tanker rates in the coming months as Opec+ production curbs crimp short-term oil supply. The major LNG shipping player also sees limited supply growth in the gas market
Aframax and suezmax tanker values still rising
‘Underlying fundamentals still appear favourable in terms of longer tonne-miles and fleet supply,’ says Gibson analyst
The week in newbuildings: Bulk carrier orders rising
Bulk carriers provided the majority of recent newbuilding orders with orders signed for six kamsarmax units and six ultramaxes
BW Epic Kosan expects continued strong markets ahead
The small gas carrier specialist will continue to focus on the liquefied petroleum gas, petrochemicals and specialty gases sector while growing the average size of its fleet. Improved cover will help insulate BW Epic Kosan from spot markets volatility through the second and third quarters, says chief executive Maltby
Dorian LPG reports strongest financial year on record
Strong supply and demand fundamentals for very large gas carriers coupled with robust arbitrage and logistical constraints have kept freight rates above five-year highs, Dorian says
High rates spark off record first quarter for BW LPG
BW LPG forecasts a strong, but volatile market for the rest of the year, as export growth from the US is balanced by normalising port inventories in China
The week in newbuildings: Vard wins wind farm operations vessels from UK owner
UK’s North Star Shipping has boosted its existing newbuilding orderbook by adding two, methanol-ready, wind farm service operations vessels at Norwegian shipbuilder Vard
‘Firm’ tanker rates underpin MISC’s strong first quarter
MISC warns of some moderation in overall average tanker rates in the coming months as Opec+ production curbs crimp short-term oil supply. The major LNG shipping player also sees limited supply growth in the gas market
Navigator Gas announces new capital return policy after strong results
Strong throughput of its joint venture ethylene export terminal, sticky demand for ammonia transportation and record US liquefied petroleum gas exports boosted Navigator’s first-quarter earnings. The company announced a new capital return policy and is eyeing investment in more energy infrastructure projects
Dry cargo sector dominates ship recycling market
Recycling markets have been on an upward trajectory during the past couple of weeks with tonnage supply at a minimum, says cash buyer GMS
Mitsubishi Shipbuilding and Nihon Shipyard aim to build liquefied CO2 carrier by 2027
Japan’s two leading shipbuilders believe the market for CO2 carriers will be expanded by Asia following the EU’s lead on promoting carbon dioxide capture and storage projects
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