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Tankers & Gas

LNG trade needs greater liquidity to counter volatility

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

International Tankers and Gas

Can a bipolar tanker market find equilibrium in 2021?

The old shipping adage that cargo is king applies more than ever for 2021. A rising east-west divide, post-Trump geopolitical policies, and post-pandemic consumer behaviour are recasting tanker market dynamics over the next 12 months

International Annual Outlook Market Outlooks
Crude Tankers

The week in charts: Freight derivative trading at 12-year high and tanker scrapping rebound

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

Containers Dry Bulk

DHT to buy VLCC pair for $136m

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

International DHT

Dry bulk and tanker markets face challenging year

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

International Dry Bulk

KSOE wins $182m twin VLCC order

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

South Korea Tankers and Gas
Product Tankers

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

Dry bulk and tanker markets face challenging year

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

International Dry Bulk

Saudi tanker blast sparks shipping security concerns

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

BW firms Casualty

Maersk Tankers takes in four Xihe product tankers

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

International Denmark
LPG

VLGC rates steady despite Panama Canal rule change, fleet issues

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

International Tankers and Gas

KSOE wins $79m VLGC order from compatriot KSS Line

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

China South Korea

Oriental Energy linked with VLGC orders at Jiangnan

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

China Tankers and Gas

Avance Gas names Fearnleys’ Sørensen as chief executive

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

BW firms Tankers and Gas
LNG

LNG trade needs greater liquidity to counter volatility

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

International Tankers and Gas

Total agrees LNG carrier charter deal with Sovcomflot

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

Sovcomflot Environment

Gunvor backs flexible US LNG tender

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

International Tankers and Gas

Australia tipped as top LNG exporter in 2020

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

Australia Tankers and Gas
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