Tankers & Gas
Maritime Markets Outlook: Death and demand
A vaccine-led recovery is going to be a bumpy ride for the maritime markets, so we are looking at the leading indicators this month in tankers and predicting what happens now that the markets appear to have hit the bottom. Meanwhile, we are dismissing talk of a super-cycle and examining where the peaks really lie
Tanker demolition fails to hit targets
Higher scrapping was expected to help cut the oversupply of tankers weighing on rates
China’s new consumption tax to support tanker demand
Braemar ACM research analysts expect modest upsides for dirty tankers owing to China’s latest tax plan. The observers think the tax levy will be neutral for product tanker demand in Asia Pacific
China and US ‘lead tanker market turnaround’
Hafnia and Evercore have cited the drawdown of the land-based surplus of crude and products as positive for tanker markets
Frontline buys six eco VLCC newbuilds for $566m
Company did not identify the ships but said that the sextet was currently under construction at the Hyundai Heavy Industries shipyard in South Korea and due for delivery by the start of 2023
Tanker market fundamentals remain weak
Any near-term recovery will likely to be hampered by the reduction in extraordinary factors influencing fleet availability, such as floating storage demand seen last year
China and US ‘lead tanker market turnaround’
Hafnia and Evercore have cited the drawdown of the land-based surplus of crude and products as positive for tanker markets
Hafnia gets $374m sustainability-linked loan
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
Vessels sell-off lifts Maersk Product Tankers to record profit
How quickly and effectively coronavirus vaccine is rolled out globally will determine timing of the rebalancing oil tanker market, company says
Texas winter freeze lifts product tanker rates
‘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
Astomos to ship first carbon-neutral LPG in deal with Shell
Credits from Shell’s global portfolio of nature-based projects will be used to offset lifecycle CO2 emissions generated across the value chain from production to consumption and combustion, including transportation
BW Epic Kosan cautious about LPG shipping prospects
The transaction to form BW Epic Kosan increased the company’s fleet to 76 ships, including pressurised, semi-refrigerated and ethylene capable vessels
Newbuild VLGC orders already double 2020 total
A combination of factors underpins the recent ordering spree, but a key feature of recent contracting is the focus on LPG-fuelled vessels and their relative efficiency
Brave Maritime triples LPG order at Hyundai Mipo
Brave’s three liquefied petroleum gas carriers are all scheduled for delivery in 2023 and will cost $47m each
Pembina Pipeline buys 50% stake in Canada’s FLNG project
The FLNG, which will now draw on the financial backing from a home-grown gas pipeline owner-operator, stands to export up to 50 conventional shipments of LNG per year to buyers in Asia
Höegh LNG buys minority stake in green hydrogen company
The investment in the Vitol-backed Gen2 Energy will see Höegh LNG collaborate for the seaborne transportation and infrastructure development of green hydrogen out of Norway. The two companies will also work together on potentially green hydrogen propulsion system for ships
Off-peak LNG stages dramatic comeback
Gas trading platform data showed prices more than tripled year on year to reach their highest average in April since 2014
Trade spat threatens Australia-China gas shipments
Australia is the biggest supplier of LNG to China, accounting for 45% or imports last year, Lloyd’s List Intelligence data shows
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