The appetite for tanker and dry bulk forward freight agreements has risen significantly off the back of geopolitical uncertainty and the pandemic, while scrapping prices for tankers are tipped to rebound

The company will receive the two DSME 2016-built very large crude carriers during the first half of this year from an an undisclosed seller

A key question for bulker owners is the extent to which fleet inefficiencies will continue to distort vessel supply-demand balances, SSY notes. For tankers, with Atlantic basin refinery closures and run cuts, a surplus of Atlantic crude could be a prime export candidate for shipment to Asia

KSOE is a major builder of very large crude carriers, having won 65% of the total orders for this vessel type in 2020. Separately, South Korea has also announced that it will be providing some financial support to build environmentally friendly vessels for the local fleet

Diversions imply cargo surplus, adding further gloomy signal to depressed transatlantic tanker earnings which remain below operating expenses

A key question for bulker owners is the extent to which fleet inefficiencies will continue to distort vessel supply-demand balances, SSY notes. For tankers, with Atlantic basin refinery closures and run cuts, a surplus of Atlantic crude could be a prime export candidate for shipment to Asia

Hafnia says the Singapore-flagged, 76,580 dwt ship was ‘hit by an external source’ while discharging early Monday morning. The crew of 22 are unhurt and an investigation is under way. UK Maritime Trade Operations says a second vessel may have been affected

Maersk Tankers takes over commercial management of three Xihe Group MR product tankers and one more 9,500 dwt vessel. The company now manages over 220 ships

Vessels coming off service and going into the yard will continue to play a supportive role for freight rates as some 70 VLGCs still need to undergo dry dockings in the next 12 months, Poten forecasts

There has been a spate of very large gas carrier orders in recent months on the back of strong freight rates. There is however also strong competition from Chinese yards for these vessel types

Sources familiar with the deal confirm the orders include two firm 93,000 cu m very large gas carriers, with options for another four. The liquefied petroleum gas carriers are scheduled to be delivered in 2023

Kristian Sørensen will be joining Avance Gas on April 1 this year. The appointment comes three months after the gas company’s chief Peder Carl Gram Simonsen departed in early September last year

LNG demand is predominantly still tied to power generation, which subjects trade in the commodity to the vagaries of the weather, particularly during the winter season in North Asia. While the market turned against buyers during this year’s cold snap, it could just as easily have gone the other way

The French energy major will take in a newbuilding 174,000 cu m liquefied natural gas carrier from Sovcomflot in 2021 and have options to take in two more vessels

Gunvor and Commonwealth LNG are offering prospective buyers and bidders flexible pricing, shipping and cargo destination terms in exchange for committed term offtake 

Although full-year revenue from exports slipped in 2020 because of low prices for part of the year, a rebound is possible this year if prices for the commodity hold up after setting a new high last week, EnergyQuest suggests