Category: Tankers
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VLCC day rates rocket above half‑million dollars
VLCC day rates rocket above half‑million dollars Amid soaring tanker rates, a US‑led naval coalition has warned shipping that stationary vessels and ships on predictable routes are “credible” targets for sabotage across the Middle East, after a tanker linked to the Stena‑Sonangol suezmax pool was struck off the Iraqi coast. The Combined Maritime Forces’ Joint…
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US grants 30‑day waiver to let Russian crude already at sea be delivered to India
US grants 30‑day waiver to let Russian crude already at sea be delivered to India The US Treasury has issued a narrowly targeted, 30‑day sanctions waiver allowing Indian refiners to accept Russian‑origin crude and petroleum cargoes already loaded aboard tankers by way of helping fill the gap left by the ongoing war between Iran and…
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Speak up for our sector
Speak up for our sector Maritime leaders must use a single voice to challenge roadblocks and spotlight opportunities in an operating landscape that is fraught with turmoil, writes Intent Communications CEO Namrata Nadkarni. The maritime industry is no stranger to volatility, but the start of 2026 has brought a convergence of crises that would test…
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Scorpio Tankers lands long-term LR2 cover and shores up cash with triple sale
Scorpio Tankers lands long-term LR2 cover and shores up cash with triple sale Monaco-based product tanker owner Scorpio Tankers has locked in long-term cover for two LR2s while agreeing to sell three ships, a move set to boost its cash position by about $110m. The New York-listed company said it has fixed the 2017-built 110,000…
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Nanjing Tanker orders trio of chemical carriers
Nanjing Tanker orders trio of chemical carriers China’s Nanjing Tanker has added three more vessels to its growing orderbook, signing up for a trio of stainless steel chemical tankers at a domestic shipyard. The Shanghai-listed owner, part of China Merchants Group, said in a filing that its wholly owned subsidiary, Nanjing Yangyang Chemical Transportation &…
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Worker killed following accident at South Korean shipyard
One person was killed as a result of an accident at a shipyard in South Korea’s South Jeolla Province on Saturday, February 28. The accident at Daehan Shipbuilding’s Yeongam County facilities occurred at around 11:40 local time on Saturday when a one-ton hull block suddenly fell as it was being lifted by a crane. The…
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Naftomar tied to suezmax deal as rates break the $300,000 mark in the Persian Gulf
Naftomar tied to suezmax deal as rates break the $300,000 mark in the Persian Gulf A suezmax deal concluded last week already looks well-timed amid a rapidly shifting geopolitical backdrop. Two years ago, UAE-based VLKR Ship Management acquired the 156,000 dwt Karvounis (built 2013, Sumitomo), paying $67.5m for the scrubber-fitted Japanese unit and renaming it…
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3,200 ships caught up in Hormuz paralysis
3,200 ships caught up in Hormuz paralysis VLCC freight surged to extraordinary theoretical levels on Monday as the war between Iran and the US‑Israel coalition roiled shipping in the Persian Gulf, with some 3,200 vessels stuck in the region. The benchmark TD3C from the Middle East to China was quoted at $423,700 a day, up…
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Adani Ports inaugurates India’s first VLCC terminal
India’s first dedicated very large crude carrier (VLCC) terminal has been inaugurated at the Port of Mundra in Gujarat, port operator Adani Ports and Special Economic Zone (APSEZ) said recently. The new terminal has been built with an exceptionally deep draught and advanced marine infrastructure, thus enabling it to handle some of the world’s largest…
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Who’s Who: Maritime Movements for January/February 2026
WORK BOAT WORLD: Unmanned systems specialist Nauticus Robotics has appointed Dr Kjerstin Easton as Vice President of Software. Easton brings more than a decade of software development leadership. At X, the Moonshot Factory (formerly Google X), she led marine-focused AI and autonomy teams at Tidal developing real-world robotic systems. She previously led robotic perception at…
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EPS boosts VLCC series with two more Hengli newbuilds
EPS boosts VLCC series with two more Hengli newbuilds Singapore-based owner Eastern Pacific Shipping (EPS) is expanding its renewed push into the VLCC segment with two more newbuildings lined up at Hengli Shipbuilding. The vessels form part of a five-ship order for 306,000 dwt VLCCs announced by the Dalian yard last week, with deliveries scheduled…
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Houthis vow to resume attacks following Iranian strikes
Houthis vow to resume attacks following Iranian strikes With the US and Israel attacking Iran on Saturday, Iranian allies, the Houthis from Yemen, have vowed to resume attacks on commercial shipping in and around the Red Sea, bringing to a close a four-month cessation of violence at sea. Shipping organisation BIMCO suggested ships with business…
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Splash Wrap: The world of shipping condensed
Splash Wrap: The world of shipping condensed Tariffs are back at the top of the shipping news agenda once again, creating confusion just as the transpacific contracting season gets underway. Last Friday, the US Supreme Court ruled that president Donald Trump violated federal law by using the International Emergency Economic Powers Act (IEEPA) to unilaterally…
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Marinakis tanker spin-off boosts Oslo IPO
Marinakis tanker spin-off boosts Oslo IPO Capital Tankers Corp has increased the size of its Oslo private placement to $500m after strong investor demand, ahead of a planned listing on Euronext Growth Oslo next month. The tanker owner, backed by Capital Maritime & Trading Corp, said the share sale was multiple times oversubscribed, prompting the…
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Fire Horse freight frenzy: VLCC markets smash records in supertanker anniversary year
Fire Horse freight frenzy: VLCC markets smash records in supertanker anniversary year In Chinese culture, 60 years signifies the beginning of a new life, symbolising the rebirth of a person or institution. It also represents five full cycles of the twelve Chinese zodiac signs. The year 2026 – the Year of the Fire Horse –…
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Hafnia lines up sales of 10 ageing tankers
Hafnia lines up sales of 10 ageing tankers Product tanker giant Hafnia has confirmed the sale of a batch of older vessels as part of its ongoing fleet renewal drive, validating recent market talk about multiple disposals. The BW Group-backed owner has agreed to sell 10 tankers to external buyers, with the ships currently pending…
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Marinakis spins out tanker arm for $345m Oslo raise
Marinakis spins out tanker arm for $345m Oslo raise Greece’s Capital Tankers Corp, a tanker owner linked to Evangelos Marinakis-led Capital Maritime & Trading, is preparing to list in Oslo, backed by a large crude tanker orderbook and plans to raise up to about $345m. The Athens-based owner aims to raise the NOK equivalent of…
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US naval forces board sanctioned Iran-linked tanker in Indian Ocean
US naval forces board sanctioned Iran-linked tanker in Indian Ocean US naval forces have boarded the Cook Islands-flagged tanker Bertha within the US Indo-Pacific Command Area of Responsibility in the Indian Ocean. The US Department of War stated that forces conducted a “right-of-visit maritime interdiction and boarding” overnight without incident. The Department said on X…
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UK hits shadow fleet and LNG trades in fresh Russia sanctions push
UK hits shadow fleet and LNG trades in fresh Russia sanctions push The UK has rolled out its largest sanctions package against Russia since the early months of the war in Ukraine, with oil tankers and LNG shipping among the main targets as London looks to squeeze Moscow’s energy revenues. Nearly 300 entities have been…
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Orkim secures MR2 charter with Petronas trading unit
Orkim secures MR2 charter with Petronas trading unit Malaysian tanker owner and operator Orkim has entered into a time charter contract for one of its vessels with Petronas’ trading arm, PETCO Trading Labuan Company. Under the contract, the charter period is for six months commencing from the end of February 2026, with an option to…
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Pistiolis-linked deal adds nine tanker newbuilds to Top Ships pipeline
Pistiolis-linked deal adds nine tanker newbuilds to Top Ships pipeline New York-listed tanker owner Top Ships has agreed to acquire nine ECO MR product/chemical tanker newbuildings backed by long-term charter employment, in a deal carrying a potential revenue backlog of about $679m. The Greece-based owner said it will acquire 100% of the shares in nine…
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Trump tariff turmoil clouds transpacific contracting season
Trump tariff turmoil clouds transpacific contracting season Tariffs are back at the top of the shipping news agenda once again, creating confusion just as the transpacific contracting season gets underway. On Friday, the US Supreme Court ruled that president Donald Trump violated federal law by using the International Emergency Economic Powers Act (IEEPA) to unilaterally…
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New Zealand unleashes its largest sanctions package aimed at Russian-linked shipping
New Zealand unleashes its largest sanctions package aimed at Russian-linked shipping New Zealand on Friday unveiled its largest sanctions package to date, targeting Russia-linked shipping, expanding measures to include 23 individuals, 13 entities and 100 vessels, and lowering the oil price cap for Russian-origin crude to $44.10 per barrel. The announcement comes as the European…
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Teekay Tankers offloads sole VLCC
Teekay Tankers offloads sole VLCC Teekay Tankers is pulling out of the VLCC segment, agreeing to sell its only supertanker in a deal that leaves the New York-listed owner focused squarely on suezmax and aframax tonnage. The Kenneth Hvid-led company said it has struck a deal to sell the 2013-built, 318,700 dwt Singapore Spirit —…
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Sinokor now controls one in four compliant VLCCs
Sinokor now controls one in four compliant VLCCs One in four compliant VLCCs are now controlled by Ga-Hyun Chung-led Sinokor, according to analysis by Norwegian broker Fearnleys, following the Korean company’s dramatic supertanker raid in the S&P and charter markets over the past few months. Fearnleys suggests Sinokor now controls about 25% of the compliant…
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Modernisation works at Russian shipyard Severnaya Verf to begin in Q3 2026
Russia’s state-owned United Shipbuilding Corporation has confirmed that the modernisation of the Saint Petersburg facilities of its Severnaya Verf business unit will commence in the third quarter of 2026. Severnaya Verf Technical Director Roman Obukhov said the works have a scheduled completion date of 2030, by which time the facility’s total area coverage will have…
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DHT VLCC clocks $90,000 a day on one-year deal
DHT VLCC clocks $90,000 a day on one-year deal A 14-year-old VLCC pulling in $90,000 per day would have raised eyebrows not long ago. In today’s market, it is the latest sign just how tight conditions have become for the world’s largest crude carriers. New York-listed owner DHT Holdings has fixed the 2012-built 320,000 dwt…
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Performance Shipping seals second try sale of its oldest tanker
Performance Shipping seals second try sale of its oldest tanker Nasdaq-listed Greek owner Performance Shipping has agreed the sale of its oldest tanker for $35.65m, securing a deal months after an earlier disposal attempt tied to an offshore conversion project fell through. The company has struck a deal with an unnamed buyer for the 2009-built…
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Sanctioned LR1 tanker heads for scrap at Alang
Sanctioned LR1 tanker heads for scrap at Alang A 2004-built, Jamaica-flagged LR1 tanker tied to high-risk trading patterns has been reported sold for recycling, according to market sources. The 72,700 dwt unit, named Diana, which was sanctioned by the US Treasury’s OFAC in December, has now been tracked as anchored in the demolition zone at Alang…
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OBITUARY | David Dearsley, former Deputy Secretary General of the International Shipping Federation
David Dearsley, who served as Deputy Secretary General of the International Shipping Federation (ISF) prior to its merger with the International Chamber of Shipping (ICS), has passed away at the age of 79, ICS said on Friday, February 13. Having started his career at sea, Dearsley was one of those who crafted the ILO Maritime…
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Trump/Netanyahu agreed US should press Iran to cut oil sales to China
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu agreed at a White House meeting on Wednesday that the US would work to reduce Iran’s oil exports to China, Axios reported, citing two US officials briefed on the issue. “We agreed that we will go full force with maximum pressure against Iran, for example, regarding…
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Precious Shipping diversifies with MR tanker acquisition
Precious Shipping diversifies with MR tanker acquisition Thailand’s Precious Shipping has made its first move into the tanker sector with the acquisition of a medium-range product tanker as it looks to diversify beyond dry bulk. The Bangkok-listed owner said its wholly owned Singapore subsidiary, Precious Horizon, has agreed to buy the 2006-built MR tanker Florence…
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Scorpio Tankers lifts Dalian LR2 order to four ships
Scorpio Tankers lifts Dalian LR2 order to four ships Scorpio Tankers has declared options for two more scrubber-fitted LR2 product tankers at China’s Dalian Shipbuilding Industry Co, doubling its order at the yard to four vessels. The New York-listed owner revealed the move alongside its fourth-quarter 2025 earnings, confirming that the two option ships are…
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Capital orders 11 VLCCs in China
Capital orders 11 VLCCs in China Greek shipowner Evangelos Marinakis is stepping up his tanker expansion, with Capital Maritime and Trading signing contracts for 11 VLCC newbuildings at China’s Hengli Heavy Industry. The order forms part of a wider package disclosed by Songfa Ceramics, the parent company of the Dalian-based shipbuilder, covering 15 VLCCs of…
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Dark fleet expansion looms as EU seeks to cut maritime lifelines for Russian oil
Dark fleet expansion looms as EU seeks to cut maritime lifelines for Russian oil Russia’s shadow tanker fleet faces greater pressure, although it is forecast to rise in numbers, if the European Commission’s proposed a 20th sanctions package gets voted through later this month. Europe plans to scrap the crude oil price cap and replace…
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Sinokor becomes the world’s ‘super operator’ of supertankers
Sinokor becomes the world’s ‘super operator’ of supertankers Sinokor’s stunning raid in the tanker markets over the past two months is making the Korean shipowner the largest operator of VLCCs in the world. Sinokor’s recent purchase of potentially over 50 secondhand VLCCs, plus the company’s securing of a significant volume of tonnage under time charter,…
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Dynacom steps up suezmax expansion with nine Hengli newbuilds
Dynacom steps up suezmax expansion with nine Hengli newbuilds George Procopiou is pressing ahead with his tanker expansion, placing an order for nine suezmax newbuildings at China’s Hengli Shipbuilding. According to a stock exchange filing by Songfa Ceramics, the parent company of Hengli Shipbuilding, Dynacom Tankers Management has secured nine of the ten 158,000 dwt…
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Russia: fuel situation in Cuba critical; US “suffocating” island
Russia: fuel situation in Cuba critical; US “suffocating” island Reuters Go to baird maritime
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Minerva books suezmax brace at Hengli
Minerva books suezmax brace at Hengli Greek owner Minerva Marine has returned to China’s Hengli Shipbuilding with an order for two suezmax crude tankers, continuing its steady fleet expansion across multiple segments. The deal covers two 158,000 dwt vessels, with a total contract value in the range of $160m to $200m, putting the unit price…
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Venergy steps up LR2 newbuild push
Venergy steps up LR2 newbuild push Fast-growing Greek owner Venergy Maritime is pushing further up the product tanker ladder, firming up a new order for LR2 newbuildings in China as it continues to build scale across the sector. The Vyron Vasileiadis-led company has signed for two more LR2 product tankers at New Times Shipbuilding, with…
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Kongsberg Maritime to design and equip new Transpetro tanker sextet
Kongsberg Maritime to design and equip new Transpetro tanker sextet Kongsberg Maritime has been contracted to design and equip four 15,600 dwt methanol/ethanol-ready handy size product tankers for Petrobras subsidiary Transpetro. The contract with Kongsberg Maritime has been placed by the shipbuilder: Consórcio Marenova, a partnership between Ecovix in Rio Grande and Estaleiro Mac Laren…
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EU proposes sweeping ban on services backing Russia’s seaborne oil exports
EU proposes sweeping ban on services backing Russia’s seaborne oil exports Reuters Go to baird maritime
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Splash Wrap: Ports in a storm
Splash Wrap: Ports in a storm The deepening dispute between Panama and China over two key ports at the Panama Canal was a constant source of headlines following a landmark Supreme Court ruling that invalidated CK Hutchison’s long-held concession contracts. A trade pact between the US and India that cuts American tariffs and ties New…
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MOL Chemical Tankers readies leadership change
MOL Chemical Tankers readies leadership change MOL Chemical Tankers has announced a change at the top, with chief executive Akira Sasa set to retire at the end of March. Sasa, who took over as president and CEO in April 2022, joined the Singapore-based chemical tanker operator as a director in 2020 and has led the…
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Pistiolis in for 10 MR tanker newbuilds in China
Pistiolis in for 10 MR tanker newbuilds in China Greek shipowner Evangelos Pistiolis has re-entered the newbuilding market, placing an order for 10 MR product tankers in China in a deal approaching $500m. Pistiolis’ privately held Central Group has signed up for the 50,000 dwt vessels at Guangzhou Shipyard International (GSI), marking the group’s first…
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Malaysia briefly detains two tankers off Penang
Malaysia briefly detains two tankers off Penang Two tankers were briefly detained off Penang last week after Malaysian authorities intercepted what they say was an illegal ship‑to‑ship (STS) transfer of crude in waters long notorious as a hotspot for shadow fleet activity. The Malaysian Maritime Enforcement Agency (MMEA) said a patrol vessel found two tankers…
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Fire ignites on fishing vessel off Galapagos Islands; all 27 crew rescued
Fire ignites on fishing vessel off Galapagos Islands; all 27 crew rescued Will Xavier Go to baird maritime
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Two ships seized for alleged illegal oil transfer in Malaysian waters
Two ships seized for alleged illegal oil transfer in Malaysian waters Jens Karsten Go to baird maritime
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Ecomar JV acquires final methanol dual-fuel tanker in series
Ecomar JV acquires final methanol dual-fuel tanker in series Jens Karsten Go to baird maritime
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International Seaways keeps pruning with $185m tanker sell-off
International Seaways keeps pruning with $185m tanker sell-off International Seaways is once again thinning out its fleet, pressing ahead with the sale of older ships as it reshapes its balance sheet and trading exposure. The New York-listed tanker owner said it has sold, or agreed to sell, five vessels since the start of the year,…
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ICS’ latest flag state performance table shows strong compliance with global standards
ICS’ latest flag state performance table shows strong compliance with global standards Gareth Havelock Go to baird maritime
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Rubio: Venezuela making progress; US not planning more use of force
Rubio: Venezuela making progress; US not planning more use of force Reuters Go to baird maritime
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Officials: US handing over seized tanker to Venezuela
Officials: US handing over seized tanker to Venezuela Reuters Go to baird maritime
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Stena Bulk takes control of GSB tanker venture
Stena Bulk takes control of GSB tanker venture Swedish tanker owner Stena Bulk has moved to strengthen its position in the chemical and specialised tanker market after lifting its stake in Golden Stena Baycrest Tankers (GSB) to become the majority shareholder. The additional shares were acquired from Bay Crest, with the joint venture remaining jointly…
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US sanctions another nine vessels linked to Iran
US sanctions another nine vessels linked to Iran Friday saw the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) slap sanctions on nine more shadow fleet vessels and their respective owners or management firms over their ties to Iran. “The Iranian regime is engaged in a ritual of economic self-immolation—a process that…
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Houthis tease new strikes amid US carrier build‑up in the Gulf
Houthis tease new strikes amid US carrier build‑up in the Gulf As a US carrier strike group makes its way to the Gulf, a familiar foe to commercial shipping has reared its head for the first time in months. A video titled ‘Soon’ published overnight by the Houthis, carried below, suggests the Iranian-backed Yemeni military…
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JHI Steamship widens tanker bet with HD Hyundai suezmaxes
JHI Steamship widens tanker bet with HD Hyundai suezmaxes Greek shipowner JHI Steamship has stepped up its tanker expansion with an order for two suezmax newbuildings at HD Hyundai Samho Heavy Industries in South Korea. The 157,000 dwt crude carriers are scheduled for delivery between the fourth quarter of 2028 and the second quarter of…
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Frontline fixes seven VLCCs at near-$77,000 a day
Frontline fixes seven VLCCs at near-$77,000 a day Frontline has locked in one-year time charters for seven of its VLCCs at rates not seen in decades, underlining just how hot the crude tanker market has become. The New York- and Oslo-listed owner said the charters will run for 12 months, starting between late January and…
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Trump: US has taken oil from seized Venezuelan tankers
Trump: US has taken oil from seized Venezuelan tankers Reuters Go to baird maritime
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Is the Trump administration considering naval blockade to halt Cuban oil imports?
Is the Trump administration considering naval blockade to halt Cuban oil imports? Reuters Go to baird maritime
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First US naphtha cargo for Venezuela arrives under oil supply deal
First US naphtha cargo for Venezuela arrives under oil supply deal Reuters Go to baird maritime
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FEATURE | Is Mexico weighing stopping oil shipments to Cuba amid US retaliation concerns?
FEATURE | Is Mexico weighing stopping oil shipments to Cuba amid US retaliation concerns? Reuters Go to baird maritime
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d’Amico doubles down on MR orders
d’Amico doubles down on MR orders Italian product tanker owner d’Amico International Shipping has added two MR2 product tankers to its orderbook, pressing ahead with a fleet renewal drive built around fuel efficiency and future fuels. The Milan-listed owner said its operating arm, d’Amico Tankers, has signed a shipbuilding contract with China’s Jiangsu New Yangzi…
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French navy boards false-flagged Russian aframax
French navy boards false-flagged Russian aframax French naval forces boarded and diverted the aframax tanker Grinch in the western Mediterranean yesterday after president Emmanuel Macron ordered an interception of what he described as a “false‑flagged” sanctioned vessel carrying Russian crude. In a post on X, Macron stated the operation was conducted on the high seas…
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Early dark fleet leader quits shipping
Early dark fleet leader quits shipping Radiating World Services, one of the more recognisable names linked to the so-called dark fleet, has exited VesselsValue’s fleet database. A vessel most closely associated with the outfit has meanwhile changed hands twice in short order. The ship in question is the 2006-built LR2 tanker Eastern Pearl (115,300 dwt),…
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Inaugural Splash Singapore targets top spot in Asian shipping calendar
Inaugural Splash Singapore targets top spot in Asian shipping calendar The speaker lineup for the inaugural Splash Singapore, scheduled for September 24, is making good on earlier promises to make the event Asia’s leading shipping conference. Among recent speaker signups are Martin Fruergaard, the CEO of Pacific Basin Shipping, Jeremy Sutton, the CEO of Swire…
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Two US-seized Venezuela tankers reappear near Puerto Rico
Two US-seized Venezuela tankers reappear near Puerto Rico Reuters Go to baird maritime
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Okeanis Eco Tankers lines up fresh suezmax resales
Okeanis Eco Tankers lines up fresh suezmax resales Greek tanker owner Okeanis Eco Tankers is looking to further expand its suezmax fleet, unveiling plans to acquire two newbuilding resales in South Korea alongside a proposed equity offering. The New York- and Oslo-listed company, controlled by the Alafouzos family, said it has signed a deal to…
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Indian officials slam Iran’s refusal to allow consular access to detained tanker crew
Indian officials slam Iran’s refusal to allow consular access to detained tanker crew Will Xavier Go to baird maritime
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Performance locks in long-term aframax cover
Performance locks in long-term aframax cover Performance Shipping has secured long-term cover for one of its aframax tankers, fixing the P Monterey on a three-year time charter. The Nasdaq-listed Greek owner said it has entered into the contract with PBF Holding, a subsidiary of US refiner PBF Energy. The deal will see the 2011-built 105,525…
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Greenland control and tariffs threaten to destabilise transatlantic shipping
Greenland control and tariffs threaten to destabilise transatlantic shipping Donald Trump has reiterated his vow to “100%” place tariffs on European countries that oppose his demand to take control of Greenland, with liners on the north Atlantic trades already coming under pressure. Westbound rates on the transatlantic container tradesfrom Europe to the US are already…
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Sinokor to top VLCC operator charts following stunning S&P raid
Sinokor to top VLCC operator charts following stunning S&P raid Sinokor’s stunning raid in the tanker sale and purchase markets over the past six weeks is on course to make the Korean shipowner the largest operator of VLCCs in the world. Brokers are agog at Sinokor’s market-altering decision to largely exit the container scene, selling…
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Nordic American Tankers firms up Korean yard choice with Daehan deal
Nordic American Tankers firms up Korean yard choice with Daehan deal Nordic American Tankers has firmed up its move into new steel, signing contracts for two suezmax newbuildings in South Korea as the New York-listed owner continues to reshape its fleet. The Herbjørn Hansson-led company said the previously announced preliminary agreements have now been converted…
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US denies mulling swap of Venezuelan heavy oil for domestic crude
US denies mulling swap of Venezuelan heavy oil for domestic crude Reuters Go to baird maritime
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CPC Blend crude prices fall as drone attacks disrupt exports
CPC Blend crude prices fall as drone attacks disrupt exports Reuters Go to baird maritime
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Splash Wrap: Global seaborne trading map redrawn
Splash Wrap: Global seaborne trading map redrawn The US said it will target ‘dozens’ of Venezuela‑linked tankers in a serious shadow fleet squeeze. Thursday saw a sixth tanker apprehended by US forces, while Vitol and Trafigura became the first international companies to start shipping oil out of Venezuela since the January 3 ousting of Nicolas…
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US forces seize sixth tanker linked to Venezuelan trades
US forces seize sixth tanker linked to Venezuelan trades US Southern Command has apprehended the 2003-built Veronica aframax during a pre-dawn operation yesterday, the sixth tanker with Venezuelan links to be taken by American forces in recent weeks. The Veronica, previously known as Pegas and Lana, has a troubled history; it was seized by Greek…
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Fredriksen goes back to Hengli for two more VLCCs
Fredriksen goes back to Hengli for two more VLCCs John Fredriksen has returned once again to China’s Hengli Shipbuilding, adding more VLCC tonnage as the shipping tycoon keeps pressing ahead with fleet renewal. Fredriksen’s private investment arm, Seatankers Management, has contracted two 306,000 dwt crude carriers at the Dalian-based yard. Chinese-listed ST Songfa confirmed that…
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Japan’s Kyoei Tanker taps local yard for VLCC newbuilding
Japan’s Kyoei Tanker taps local yard for VLCC newbuilding Gareth Havelock Go to baird maritime
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Asyad Shipping steps up VLCC expansion with fresh Hanwha Ocean order
Asyad Shipping steps up VLCC expansion with fresh Hanwha Ocean order Oman’s Asyad Shipping has added further weight to its crude tanker ambitions, signing contracts for three new VLCCs at South Korea’s Hanwha Ocean. The state-linked owner, part of the Asyad Group logistics platform, confirmed it placed the order, covering three 300,000 dwt newbuilds at…
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US targets ‘dozens’ of Venezuela‑linked tankers in shadow fleet squeeze
US targets ‘dozens’ of Venezuela‑linked tankers in shadow fleet squeeze The United States is gearing up to grab a lot more Venezuela‑linked tonnage, with scores of seizure warrants now in play as Washington tightens its grip on the country’s oil exports and the shadow fleet that moves them. According to sources quoted by Reuters, the…
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Kyoei Tanker adds VLCC slot at JMU
Kyoei Tanker adds VLCC slot at JMU Japanese owner Kyoei Tanker is expanding its VLCC fleet with a 310,000 newbuild ordered at Japan Marine United’s Ariake yard, with delivery slated for 2029. The Tokyo-based company confirmed the vessel will be acquired through a shared ownership structure, following board approval and final sign-off by partners late…
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Polemis tied to suezmax order in China
Polemis tied to suezmax order in China Adam Polemis’ New Shipping has been tied to fresh Chinese tonnage, extending its suezmax tanker orderbook and newbuilding programme that has gathered pace over the past year. CSSC Beihai Shipbuilding has secured a contract for a 161,800-dwt suezmax crude oil tanker from undisclosed Greek interests. However, Greek broking…
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At least two VLCCs depart Venezuelan waters carrying oil
At least two VLCCs depart Venezuelan waters carrying oil Reuters Go to baird maritime
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Korean-developed wing sail mounted on an HMM tanker
Korean-developed wing sail mounted on an HMM tanker Korean shipping and shipbuilding interests are stepping up collaboration on wind-assisted propulsion. HD Korea Shipbuilding & Offshore Engineering (HD KSOE), HD Hyundai’s mid-level holding company for institutional shipbuilding, has begun sea trials of its self-developed Wing Sail system after installing a prototype on a tanker operated by…
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Scorpio Tankers sheds 11-year-old LR2
Scorpio Tankers sheds 11-year-old LR2 Monaco-headquartered product carrier major Scorpio Tankers has sold one of its LR2 tankers. The New York-listed owner said the 2015-built scrubber-fitted LR2 product tanker STI Kingsway for $57.5m to an undisclosed buyer. According to the Emanuele Lauro-led company, the sale is expected to close within the first or second quarter…
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Oil climbs, intensifying unrest in Iran spark supply concerns
Oil climbs, intensifying unrest in Iran spark supply concerns Reuters Go to baird maritime
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Four tankers that left Venezuela with transponders off are back in its waters
Four tankers that left Venezuela with transponders off are back in its waters Reuters Go to baird maritime
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Vitol to load first diluent cargo under Venezuela supply deal this weekend
Vitol to load first diluent cargo under Venezuela supply deal this weekend Reuters Go to baird maritime
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Bessent: US may lift more Venezuela sanctions next week
Bessent: US may lift more Venezuela sanctions next week Reuters Go to baird maritime
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Trafigura, Vitol agree to help sell Venezuelan oil on US government request
Trafigura, Vitol agree to help sell Venezuelan oil on US government request Reuters Go to baird maritime
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Companies scramble to secure ships, assemble operations to transfer Venezuelan oil
Companies scramble to secure ships, assemble operations to transfer Venezuelan oil Reuters Go to baird maritime
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Frontline refreshes VLCC fleet in $2bn overhaul
Frontline refreshes VLCC fleet in $2bn overhaul John Fredriksen’s tanker giant Frontline is rolling out a $2bn-plus VLCC fleet revamp, selling older tonnage while lining up a slate of latest-generation newbuildings. The New York- and Oslo-listed owner has agreed to sell eight first-generation VLCCs, built between 2015 and 2016, for a total consideration of $831.5m.…
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US tightens naval grip on Venezuelan oil exports with new tanker seizure
US tightens naval grip on Venezuelan oil exports with new tanker seizure US forces are continuing the pressure on Venezuela with the seizure of a third tanker in just two days. Maritime security specialist Vanguard said that the falsely flagged Timor-Leste tanker Olina had been seized by US forces in the Caribbean after breaking away…
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Splash Wrap: US incursion into Venezuela dominates coverage
Splash Wrap: US incursion into Venezuela dominates coverage The tanker market grappled with fresh uncertainty all week after the arrest of Venezuelan president Nicolás Maduro in a dramatic US military operation over the weekend, an event that has effectively frozen the country’s oil exports and reinforced Washington’s hardline approach to maritime enforcement. The Trump administration…
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India receives first fully laden VLCC at Mundra
India receives first fully laden VLCC at Mundra In a sign of the sweeping upgrades in maritime infrastructure across the coastlines of the world’s most populous nation, Adani’s Mundra port has this week berthed a fully laden VLCC – a first for India, and something that promises to alter the global seaborne tanker trading map.…
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FEATURE | Chevron, Vitol, Trafigura vie to control Venezuelan oil exports
FEATURE | Chevron, Vitol, Trafigura vie to control Venezuelan oil exports Reuters Go to baird maritime
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Panama says it canceled flag of US-seized oil tanker a year ago
Panama says it canceled flag of US-seized oil tanker a year ago Reuters Go to baird maritime
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Tanker News Roundup | January 8 – Japan-India VLEC joint venture, Greek multi-gas carrier delivery and more
Tanker News Roundup | January 8 – Japan-India VLEC joint venture, Greek multi-gas carrier delivery and more Baird Maritime Go to baird maritime
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Suez traffic still 60% down 100 days after last Houthi attack
Suez traffic still 60% down 100 days after last Houthi attack Suez Canal traffic remains sharply lower more than three months after the last reported Houthi attack, underlining how slow ship operators have been to return to the Red Sea route. According to BIMCO, it has now been 100 days since the last vessel was…