NEW DELHI/MOSCOW : Russia’s state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers,
LONDON : “In 2023, sanctions on Russian oil exports by the EU caused a major shift in tanker trades and a 10% increase in average sailing distances for
LONDON : “In the first two months of 2024, crude tanker newbuild contracting surged to 7.4 m DWT, a 490% leap y/y, due to a rise in orders
LONDON : Supply/demand balance For crude tankers, we forecast that the supply/demand balance will tighten further during both 2024 and 2025. Low fleet growth, along with increasing sailing
ISTANBUL : Specialized ship manager Chemfleet has confirmed that an in-service Berg Propulsion upgrade to control systems onboard the tanker YM Miranda has yielded fuel savings of around 10%. Trials
LONDON : “In 2023, only seven product tankers with combined deadweight tonnes (DWT) capacity of 265,000 were recycled. This was a year-on-year drop of 82% compared to 1.5
SHANGHAI : COSCO Shipping Energy Transportation, has recently finalized significant shipbuilding agreements, securing contracts for the construction of six new tankers valued at a total of $449 million.
LONDON : Several shipping companies and a few liquefied natural gas (LNG) tankers have decided to avoid the world’s main East-West trade route, following attacks launched by Yemen’s
HAMBURG : Bernhard Schulte expands its fleet portfolio and announced the order of its first CO2 tanker. The newbuilding will be constructed at Dalian Shipbuilding Offshore (DSOC) and will
SINGAPORE : MariApps Marine Solutions (MariApps), with expertise in maritime digital solutions for maritime organizations, announced an agreement that will enhance the digitalization of Kuwait Oil Tankers’ Company