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Marine News:

Tanker Demolitions in 2017 Reached 85 Ships of Over 25,000 dwt, As Prices Increased Says Gibson

Tankers sold for demolition last year were one of the few silver linings, as activity rose on the back of diminishing freight rates. In its latest weekly report, shipbroker Gibson reported that “one of the few bright spots for the tanker market last year was the notable increase in recycling sales. Of course, this could ......


Hellas: Fleet Grows By 7% on Dry Bulk and Tanker Increases in 2017 says Petrofin Research

In its latest annual report, Petrofin Research said that the overall number of Greek vessels has gone up to 5281 from 5230. Tonnage has again climbed up by 25,276,695 tons DWT to 387,210,742, from 361,934,047 in 2016, an increase of 7%. Last year the increase in tonnage was 10.26% and the year before it was ......


LNG in 2018 – Infrastructure must evolve to meet accelerating demand

One of the biggest stories of 2017 was the evolution of the market for LNG as a marine fuel, with a significant increase in new projects across the globe, demonstrating a growing embrace of gas-fuelled shipping throughout the industry. This year, we predict that a major challenge will be meeting the urgent demand for infrastructure ......


Tankers: December Market at a Standstill

Unlike the usual seasonal pattern, in December dirty tanker spot freight rates in general did not show any remarkable gains. Average dirty tanker spot freight rates were almost stable from a month before to stand at WS78 points, pressured by a decline of WS10 points in average spot VLCC freight rates during the month on ......


Hellas: Consolidation of Shipping Companies Continues Says Latest Petrofin Research

The consolidation of Greek shipping companies continues unabated with 41 fewer companies or 6.43% less in 2017. This has to be evaluated in conjunction with the rapid expansion of the fleet and the number of new entrants amounting to 11 companies. It becomes evident that the picture of Greek shipping that emerges shows an extensive ......


Tonnage on the Water

A beginning inventory figure for the eight vessel classes we track is extracted from our proprietary database during the Tanker Market Outlook process. For the clean sectors, we historically calculated supply for product carriers and IMO 3 class vessels only; however, are now including the Chemical IMO 2 fleet due to its increasing utilization for ......


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