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Marine News:

Shipbrokers See “Flood” of VLCCs Heading to the Scrapyards

The gates have opened and a flurry of old VLCC tonnage is heading towards the scrapyards, as most shipowners appear convinced that the market’s recovery will be prolonged even further, unless supply is curbed. In its latest weekly report, shipbroker Clarkson Platou Hellas raised the question of where is the market for VLCC tonnage heading. ......

West Africa Under Pressure

Suezmax rates in West Africa have come under pressure recently, with TD20 last assessed at WS 52.5, about 9% lower than the year-to-date average. Rates made considerable gains towards the WS 70 level at the start of the month in concert with a tightening of the regional position list, which fell to the lowest level ......

Energy efficiency in shipping – why it matters!

All industries are looking to becoming cleaner, greener and more energy efficient – and shipping is no exception. Improved energy efficiency means less fuel is used, and that means less harmful emissions. The International Maritime Organization (IMO) – the United Nations specialized agency with responsibility for safe, secure and environment-friendly shipping – is leading a ......

More VLCCs Ordered, But Trend Not Sustainable Claim Shipbrokers

Despite the malaise of the tanker market, there have been some speculative orders in the VLCC tanker market, also a prime candidate for scrappings. According to the latest weekly report from shipbroker Allied Shipbroking, “a rather surprising uptick in activity witnessed this past week, mostly due to the increased interest noted on the tanker front, ......

Shipping: Evolution Not Revolution

It was a relief to see the consolidation that took place in the shipping markets in 2017, which in turn has led to a healthier market and a stronger outlook for 2018. The energy sector, however, remains complicated with the LNG market rising, tankers falling, coal volumes up, and shale the wild card. All in ......

Title in bunkers – a success story

This article relates to a situation where the Owners of a vessel en route to the discharge port informed us that the Charterers have not paid hire and they have in addition failed to provide Owners with a bunkering schedule and the vessel needed to divert for bunker stemming. Owners therefore made all necessary arrangements ......

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