Decarbonisation a “secondary issue” for Shipping

Decarbonisation a “secondary issue” for Shipping

Long asset lifespans, high energy dependency and limited viable alternatives make shipping one of the harder-to-abate sectors to decarbonise, according to Fitch Ratings.   In a special report on long-term climate vulnerability, Fitch said that low margins mean there is a reluctance in shipping to heavily invest, especially into unproven technology. In a business-as-usual scenario, […]

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Tanker Market Shows Mixed Performance During April

Tanker Market Shows Mixed Performance During April

Suezmax and Aframax rates in April continued to outperform those in the VLCC class, with gains of 61% and 28%, respectively. Suezmax was supported by a strong market in the Atlantic Basin, while Aframax was supported by both the East and West markets, OPEC said in its latest monthly report. After a sluggish start to […]

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Tankers: European Oil Trade Routes Are Being Redrawn

Tankers: European Oil Trade Routes Are Being Redrawn

The tanker market is in ever shifting waters, as the existing conditions are redrawing crude oil trade routes. North Sea oil production could return into play, while Urals exports are expected to move to the East. In its latest weekly report, shipbroker Gibson said that “the combination of high oil prices and the need to […]

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Russian Crude on Tankers is the Highest on Record

Russian Crude on Tankers is the Highest on Record

In what seems like a paradox, amid the current environment, the volume of Urals crude currently held on tankers, is the highest level since records began in 2016”. In its latest weekly report shipbroker Gibson noted that “it has been almost two months since Russia invaded Ukraine. Over this period, we have seen several rounds […]

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Tanker Market at Stalemate During February

Tanker Market at Stalemate During February

The dirty tanker market remained at muted levels for much of February, although volatility accelerated at the end of the month as geopolitical developments intervened, OPEC said in its latest monthly report. Rates remained elevated into March, although coming down somewhat after the first few days. In monthly terms, average rates for February primarily reflect […]

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Tankers: Will Oil Supply Become an Issue Moving Forward?

Tankers: Will Oil Supply Become an Issue Moving Forward?

With the war in Ukraine raging for nearly one month now, it’s becoming apparent that oil stocks could become a major issue moving forward. In its latest weekly report, shipbroker Gibson said that “each week, we monitor developments in refined product and crude oil inventories. Even before the invasion of Ukraine and subsequent sanctions on […]

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Tanker Premiums To Remain for the Time Being

Tanker Premiums To Remain for the Time Being

The surge in rates for Aframax and Suezmax tankers, as a result of the crisis in Ukraine could be the prevailing trend in the market for the near or even mid-term future, given the prevailing geo-political circumstances. In its latest weekly report, shipbroker Allied Shipbroking said that “the recent surge in commodity prices has sparked […]

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Tanker Market Fails To Take Off During January

Tanker Market Fails To Take Off During January

The tanker market is still lingering close to multi-year lows at the beginning of 2022. According to the latest monthly report from OPEC, coming off a year that saw multi-decade lows, dirty tanker spot freight rates started 2022 close to the bottom end of the five-year range, despite rising bunker fuel prices weighing on earnings. […]

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