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Tankers & Gas
MISC chief seeks niche targets to gain ‘first-mover advantage’
‘Each asset in the segments in which we are active costs a lot of money, so we strive to match the capital investment with the right client and contract,’ says MISC chief executive
Middle East leads steep fall in global crude tonne-mile demand
Tanker tonne-mile demand dropped 18.6% in July compared with the same month last year, with preliminary August data suggesting falls of the same magnitude this month. Tonne-mile demand, which measures volumes carried by distance travelled, is seen as a proxy for demand for crude tankers
Euronav eyes consolidation in response to peak oil demand
Peak oil demand may have passed or may be arriving soon. But the head of the significant crude tanker owner is not concerned as he sees room for consolidation in the market
Coronavirus resurgence weighs on oil demand and tanker earnings
Stalling crude demand may deepen contango trades, but doubts emerge this will offset lower-than-anticipated exports and lift tanker earnings
Will contango trades shield tankers from coronavirus resurgence?
Floating storage deployment may be sole driver of fourth-quarter tanker demand if slowing rebound dents exports
Salvors complete dive inspection of New Diamond
Sri Lanka’s Marine Environment Protection Authority has carried out hull inspections of the vessel, which has been assessed pollution-free and ready to be towed
Coronavirus resurgence weighs on oil demand and tanker earnings
Stalling crude demand may deepen contango trades, but doubts emerge this will offset lower-than-anticipated exports and lift tanker earnings
Hafnia warns of ‘extended rebound’ amid uncertain demand as shipowner posts record profits
Group reports profits of $97.7m on time charter equivalent earnings of $106.9m
Hyundai Heavy wins $70m orders for two product tankers
The vessels have been ordered by an Asian and a European owner. They are due to be delivered in the second half of 2021
Asia-Pacific oil products demand expected to fall
Oil products demand in Asia-Pacific is expected to fall by 1.8m barrels per day year on year in 2020, according to consulting firm Wood Mackenzie
Coronavirus resurgence weighs on oil demand and tanker earnings
Stalling crude demand may deepen contango trades, but doubts emerge this will offset lower-than-anticipated exports and lift tanker earnings
BW LPG bets on ammonia for zero-carbon future
BW LPG might also consider retrofitting the other vessels in its fleet. It estimates the payback period to be about six years for such investments
BW LPG sees challenging market in 2021
In the medium term, there is downward pressure on US LPG supply following lower oil prices, the Oslo listed company said
StealthGas posts best results since 2013
Looking ahead chairman Michael Jolliffe has warned that conditions will be difficult as it tries to ‘strategically navigate’ the coronavirus-affected market
First LNG-fuelled deepsea boxship enters service
CMA CGM has reaffirmed its commitment to carbon neutrality by 2050 with the service launch of the first of nine liquefied natural gas-fuelled, ultra-large containerships. It marks the first foray into alternative fuels on the main lane trades
Sovcomflot and Novatek order 10 LNG carriers
The Russian partners confirm orders for another 10 LNG carriers to service the upcoming Arctic LNG 2 exporting facility, raising the total number of ships to 15
LNG shipping sees post-pandemic rebound
Supply outages and demand recovery in Asia boosted LNG spot prices in the region, opening up arbitrage opportunities for trades between importers there and exporters in the US. Forward curves are providing incentives for the freight markets to move and a possible return to $100,000 rates is on the cards towards the end of the year as US loadings rise
Hurricane holds back US LNG output
The last LNG carrier sailed away from Sabine LNG, the largest US export terminal, yesterday as the storm is expected to make landfall along the southwest Lousiana or upper Texas coasts on Wednesday night or early Thursday morning
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