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Tankers & Gas

Maritime Markets Outlook: Shipping’s big LNG bet

Some of the most powerful voices in shipping are among the most heavily invested in liquefied natural gas as a marine fuel, but the pathway for LNG as a transitional option is far from clear. With the World Bank now urging an end to public policy support for LNG as a bunker fuel and pushing for methane emissions regulations, this month’s edition of the Maritime Markets Outlook examines the implications for those LNG cheerleaders already exposed and analyses the rapidly changing dynamics of transitional fuelling options for shipping

Maritime Markets Outlook Fuels

Tanker demolition fails to hit targets

Higher scrapping was expected to help cut the oversupply of tankers weighing on rates

International Tankers and Gas Ship Recycling
Crude Tankers

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

Tankers and Gas Freight rates

Oil tanker demand ‘to contract by most in 11 years’

Quarterly forecast from Norwegian investment bank Cleaves Securities cites significant 2022 gains

International Tankers and Gas

Crude Greeks decide it’s time to go very large

Central Group, Latsco Shipping, Maran Tankers, Athenian Sea Carriers, Capital Maritime, Navios and Samos Steamship are among the Greek owners that have arranged to get their hands on new VLCCs as prices seem headed higher and building slots dry up

Europe Greece

Tankers to feel limited impact from Suez Canal shutdown

If the blockage is prolonged, Wood Mackenzie expects oil product trade flows from Europe and the Mediterranean to the East of Suez to suffer a greater impact, reducing the availability of naphtha, petrochemical feedstocks and fuel oil to Asia

Egypt Tankers and Gas
Product Tankers

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

Products Finance

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

International Maersk Group

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 

International Tankers and Gas

Transatlantic product tankers divert as US refined products demand stalls

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

International Tankers and Gas

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

Europe Greece

Freight rates for LPG carriers bounce as market hopes rebound

Demand growth is expected to be strong in Asia driven by both the petrochemical and retail sector and also in Northwest Europe, Poten & Partners’ LPG consultant Shantanu Bhushan said. Recovery in the oil market would mean LPG becoming more competitive relative to naphtha as a feedstock which would mean better arbitrage economics between the US and Northwest European and Mediterranean regions.

International China

Global LPG exports to rise as petchem demand grows

The tanker research and consulting group believes a forecast rise in LPG shipments will also be buoyed by strong incremental growth from several smaller exporters such as Algeria, Canada and Australia in the coming years

Tankers and Gas LPG

Petredec exercises option for three LPG-fuelled VLGCs

The move for the additional three 93,000 cu m LPG carriers is the second part of a deal for three vessels signed in November last year with the Chinese shipyard and would increase Petredec’s very large gas carrier fleet to 27 ships

Tankers and Gas LPG

Mozambique security delay fuels uncertainty over status of 17 newbuilding LNG carriers

The Mozambique LNG project is Africa’s largest energy project with liquefied natural gas supposed to come online in 2024, but is already subject to delays

Mozambique Tankers and Gas

Marine LNG fleet set to expand despite World Bank rejection

Titan LNG has questioned the the lifecycle emissions analysis available for hydrogen and ammonia, pointing out that liquefied natural gas has an established record of evidence backing up its status as an available pathway to decarbonising international shipping

Europe Tankers and Gas

Eastern Pacific Shipping bags Rio Tinto dual-fuel bulker charter

Eastern Pacific’s belief in LNG-fuelled tonnage during the past few years has led the shipowner and shipmanagement company to develop a deep expertise and knowledge of the cleaner alternative fuel

Singapore Dry Bulk

Philippines clears LNG project on Luzon island

Six regasification projects are now on the table for the Luzon Island, which used natural gas to meet almost 30% of its power generation needs last year

Philippines Tankers and Gas