“The cut is negative for tankers, though, based on current output, we expect the ... Given the new OPEC+ quotas are likely to impact long-haul trade, Jefferies, and other tanker analysts, see the VLCC segment as the most vulnerable to a lower cargo count.
It’s a temporary disruption that often occurs without warning, due to a one-time event, like a stranded oil tanker blocking other ships from accessing a trade route, or longer-term issues, such as a war, an embargo, or a global health crisis.
More than half of the tankers now shipping Russia’s oil are Greek-owned. And the financial services that underpin that trade — including insurance, reinsurance and letters of credit — are overwhelmingly based in the European Union and Britain ...Asian tankers will be very, very busy.
Looking at today’s sale and purchase market in order to glean market sentiment, another audience member, Fergus Gifford, a broker with Arrow, described a two-tier market where there was immense demand for older crude ships with “crazy prices” for these tankers going into grey trades.
Vintage tankers, typically ready for the scrapyards, are changing hands for future trading in record numbers and at eye-catching prices as Russia gets its oil export plans in place for further bans ...Furious tanker trading has made up for limited S&P deals in most other sectors in recent weeks.
By going after Russia’s global market, these new sanctions stand to influence Russian trading beyond those independently set up by the US and the EU ... In the past, not only were clean oil tankers subject to few – if any – compliance checks or audit trials, but trading desks and trade banks dealing in clean petroleum were largely unregulated.
Over the past few years, there have been hundreds of pirate attacks on ships, putting trade routes at risk and causing losses for cargo owners, ships, traders and crew ...Closer to home, the Mozambique channel is an important tanker shipping route, and SA has patrolled it since 2011 to help protect trade vessels from being targeted.
“From a charterer point of view it is a bit uncomfortable situation - at the moment we seem to get very limited information about the vessel’s current CII levels, and even if we would, our trade (tanker) is most probably something different than the earlier, giving no ...
The tanker market could be set for a recession-defying multi-year bull run, according to a panel of market experts ... “However, what we do know is that this terrible conflict [in Ukraine] has caused change in trade flows, dislocations, increased tonne-miles and a tight tanker market.