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Tankers & Gas

Stay informed with the latest news, analysis, and insight impacting the crude, LNG, and LPG sectors through our expert coverage

Tanker depression pushes owners to idle vessels

Lloyd’s List Intelligence data shows that at least 39 unladen VLCCs are at anchor off the southeastern coast of Malaysia and the Strait of Malacca. Not all are being idled, but more owners are expected to go down that path to reduce the bleeding should the dreadful market conditions continue

International Tankers and Gas Ship operations

Crude Tankers

SFL Corp buys LR2 quartet along with long-term charters

The vessels are equipped with modern eco-design features including exhaust gas cleaning systems

Tankers and Gas Suez and Aframax

‘It can’t get worse’: Tanker rate recovery seen in 2022

Below-average oil inventories, lower fleet-to-orderbook ratios and rising scrapping are expected to lift rates next year

International Tankers and Gas

Tanker earnings to remain under pressure well into 2022

Any increase in oil demand will be met by rising supplies as stock depletes, which will be positive for the tanker market as it expands seaborne volumes boosting tonnage demand

International Tankers and Gas

Global oil demand to reach pre-pandemic levels in early 2022

Orders are forecast to rise to 100m barrels per day by the end of the year or in the first quarter of next year

International Tankers and Gas
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Product Tankers

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

International China

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
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Avance Gas positive for VLGC freight rates into 2022

Delays through the Panama Canal may also force vessels to re-route via the Cape of Good Hope or Suez Canal, stretching the VLGC fleet

Tankers and Gas LPG

Cosco Shipping unit makes debut in newbuild market

The two vessels are the first order that the Cosco Shipping unit has placed since it was established in 2019, which will add to its existing six-ship fleet

Asia Pacific Tankers and Gas

Delays at Panama Canal to increase VLGC demand by 12%

Poten’s LPG consultant Shantanu Bhushan estimates that liquefied petroleum gas exports from the US may require around 163 VLGCs this year due to the current waiting period in the canal, which is up 12% as compared with the previous year

International Tankers and Gas

Kawasaki secures dual-fuel VLGC from Eneos Ocean

According to the Japanese shipyard, the advantage of this dual-purpose vessel is its capability to simultaneously carry LPG, which is already used as a low-carbon energy source, and liquefied ammonia, a new fuel contributing to the establishment of a decarbonised society

Japan Tankers and Gas
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LNG carrier spot rates surpass $424,000 per day

US exports in September already gained 73% compared with the same period a year ago, as demand for vessels intensifies

Asia Pacific Japan

Höegh LNG has 100% contract coverage amid refinancings

While the liquefied natural gas market continues to perform well, earnings before interest, tax, depreciation and amortisation in the fourth quarter will be negatively affected by off-hire time for one of its vessels ahead of a long-term charter commitment

Tankers and Gas LNG

EU may veto merger of South Korean shipbuilders

A spokesperson from the European Commission said the clock has been stopped for its investigation into the deal because of ‘an important piece of information’ was missing

Asia Pacific Containers

Maran Gas orders two LNG carriers plus options at DSME

Move signals commitment ‘to achieve significant near-term reduction’ in emissions, says chief executive Maria Angelicoussis

South Korea Greece
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