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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

International Dry Bulk

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

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 Tankers and Gas

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

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

Frontline Tankers and Gas

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
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

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

Japan Tankers and Gas

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

Singapore Tankers and Gas

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

Tankers and Gas Freight rates

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

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

Canada Tankers and Gas

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

International Norway

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

International Tankers and Gas

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

Australia China