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Tankers & Gas
Sinoocean recently signed bareboat charters with CNOOC for two China-built offshore support vessels
The unprofitable conditions are expected to continue until October or November, when the seasonal rise because of the northern hemisphere winter is expected to lift rates
Prostar earlier this year announced it was investing $100m for storage tank upgrades at the terminal
Vessel had no cargo on board when the incident occurred
Hyundai’s last order was a pair of suezmaxes ordered at the beginning of May, also by an undisclosed European owner
Deal follows a contract for four VLCC newbuildings signed separately between the two parties in November
The two companies’ chief executives open up on the failed merger attempt that would have created the world’s large product tanker operator
The four vessels have turned off their identification systems since May and their whereabouts are unknown, but it is unclear how they might be seized unless they enter US territorial waters
The company increased contract coverage at better rates to protect its revenue base
The low appetite for second-hand product tankers partly indicates that the medium-term outlook remains clouded by uncertainty, said BIMCO's chief shipping analyst Peter Sand
Poten expects to see significant increase in global seaborne supply of LPG with total exports at slightly above 111m tonnes in 2020 and less than 113m tonnes in 2021
Dorian expects 20 planned projects to add around 11.9m tonnes per annum of LPG demand through 2023
The Suez Canal Authority has extended the discounts offered to bulk and liquid carrier transiting the canal until December 31 this year
Owners appear reluctant to charter out their vessels for longer terms, leaving their ships in the spot markets, Poten & Partners noted
The ordering plan was first unveiled in April when the project was said to be linked with US LNG exports
Thailand’s power generation project developers have made use of record low spot prices to secure LNG supplies
Tianjin’s LNG imports expanded by a quarter in the first five months over the levels seen in the past year
Export volumes are expected to hold steady but these will not assuage the damage from drastic falls in LNG prices
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