Tankers & Gas
Stay informed with the latest news, analysis, and insight impacting the crude, LNG, and LPG sectors through our expert coverage
The Russian oil price cap — a shipping industry users’ guide
The $60 oil price cap — which comes on top of the EU import ban on Russian seaborne crude oil and oil products, and the corresponding bans of other G7 partners — is intended to reduce the revenues Russia earns from oil. But what does this mean for shipping?
Oil demand growth to slow by almost 25% in 2023, says IEA
A European Union ban on seaborne exports of Russian crude will force Moscow to redirect about 1.1m barrels per day, according to the International Energy Agency
MISC doubles third-quarter profits on booming tanker rates
MISC says spot rates continued to surge in the LNG shipping market in the third quarter. This was despite tonne-mile demand coming under some pressure from trade pattern shifts to shorter distances
Oil demand downgraded amid ‘worse global energy crisis in history’
Both the International Energy Agency and the Organisation of the Petroleum Exporting Countries lower oil demand forecasts in monthly reports released this week relating to the remainder of 2022 and 2023
Opec cuts cast cloud over VLCCs rates recovery
The largest tankers ship about 40% of the world’s seaborne crude, but 70% of all exports from the Middle East Gulf where most reductions are expected
EU finds legal basis for oil price cap on Russia oil as sanctions extended
Oil price cap to be integrated into existing bans on Russia crude exports, which begin on December 5, and refined products that start February 5
MISC doubles third-quarter profits on booming tanker rates
MISC says spot rates continued to surge in the LNG shipping market in the third quarter. This was despite tonne-mile demand coming under some pressure from trade pattern shifts to shorter distances
Top Ships posts largest first-half profit since 2005
First-half revenues jumped by 53% to $38.8m
Tanker companies more worried about recession than ending war
Executives at tanker companies told a Marine Money forum that they were keeping a close eye on macro-economic conditions, highlighting high inflation and rising prospects of a recession
Furetank adds product tanker newbuildings
Latest order for 17,999 dwt energy efficient dual-fuel tankers lifts Swedish-designed Vinga-class series to a total of 15 units
MISC doubles third-quarter profits on booming tanker rates
MISC says spot rates continued to surge in the LNG shipping market in the third quarter. This was despite tonne-mile demand coming under some pressure from trade pattern shifts to shorter distances
Dorian mulls first ethane carrier orders
US-based owner of liquefied petroleum gas carriers wants to enter the ethane shipping sector as technology advances. The ethane market’s established infrastructure and lower costs make it an increasingly attractive proposition
LPG shipping on track for solid rates through to 2025
Daily rates could rise to $55,000 in 2024 and $50,000 in 2025 after dipping next year due to a heavy newbuilding delivery schedule, analyst says
IMO to develop safety guidelines for ammonia and hydrogen
While guidelines for the use of liquefied petroleum gas have been finalised, the work to develop technical provisions for ammonia and hydrogen has begun and will hopefully be delivered to the International Maritime Organization next year
Samsung seals $251m LNG carrier newbuilding order
SHI has won orders for 36 LNG carriers in 2022, comprising 73% of its total orderbook
DSME cancels last of three Novatek-linked LNG carriers
Contracts for two other vessels were cancelled in May and June
10 Maria Angelicoussis, Angelicoussis Group
At home, the Angelicoussis Group is the largest user of the Greek flag and makes the largest annual intake of Greek cadets
China seals major long-term LNG supply deal with Qatar
Deal ‘marks the longest gas supply agreement in the history of the LNG industry’, said QatarEnergy chief executive
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