Tankers & Gas
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To tackle Putin’s dark oil fleet, enforcement needs to be stepped up
More Russian oil than ever before is being transported on sanctions-circumventing tankers that exploit loopholes in international maritime regulations
International Seaways secures $160m sustainability-linked loan
Scorpio continues to cut finance costs with purchase of 21 leased vessels
The week in charts: Oil cap breach fails to stop compliant shipments from Russia | Limited interest in alternative fuel bulkers | Box spot rates slump
Fredriksen mulls Euronav share buyout in return for fleet
Dark fleet shipping sanctioned oil expands to 530 tankers after oil price cap breach
Global oil price gains have pushed prices for all Russian crude grades and diesel over thresholds of $60 per barrel for crude and $100 per barrel for diesel
To tackle Putin’s dark oil fleet, enforcement needs to be stepped up
More Russian oil than ever before is being transported on sanctions-circumventing tankers that exploit loopholes in international maritime regulations
Shipping urged to unify search for decarbonisation solutions
For all their talk, banks are as averse to risk on expensive ‘greener’ projects as owners are, says owner Aristides Pittas
International Seaways secures $160m sustainability-linked loan
US-listed crude and product tanker owner International Seaways has entered a $160m revolving credit agreement with a sustainability-linked pricing adjustment. The adjustment is linked to three factors related to fleet sustainability, amount of sustainability-linked investment and the frequency of lost time injuries, consistent with a facility Seaways entered in May last year
The week in charts: Oil cap breach fails to stop compliant shipments from Russia | Limited interest in alternative fuel bulkers | Box spot rates slump
CMA CGM boasts largest dual-fuel methanol boxship orderbook, VLGC rates ease from record-shattering highs, Russia’s Danube offensive fails to dent Ukraine exports, more containerships and bulker sold for recycling as prices jump and Baltic Dry Index hits year-to-date high
D’Amico eyes improved US investor exposure with OCTQX application
Trading in Milan and in the US OTC Pink Market, d’Amico is seeking to upgrade to OTC Markets’ top tier OCTQX, which requires higher financial and governance standards, and offers greater transparency to investors
International Seaways secures $160m sustainability-linked loan
US-listed crude and product tanker owner International Seaways has entered a $160m revolving credit agreement with a sustainability-linked pricing adjustment. The adjustment is linked to three factors related to fleet sustainability, amount of sustainability-linked investment and the frequency of lost time injuries, consistent with a facility Seaways entered in May last year
The week in charts: Oil cap breach fails to stop compliant shipments from Russia | Limited interest in alternative fuel bulkers | Box spot rates slump
CMA CGM boasts largest dual-fuel methanol boxship orderbook, VLGC rates ease from record-shattering highs, Russia’s Danube offensive fails to dent Ukraine exports, more containerships and bulker sold for recycling as prices jump and Baltic Dry Index hits year-to-date high
Norden chief executive says asset-light strategy keeps it profitable amid bulker rates slump
Norden attributes its business model that embraces freight trading over vessel ownership to combined profits of more than $1.3bn since 2016
Vafias orders pair of LPG/ammonia carriers in Japan
Spree running to 33 ships with accent on larger units than before seems to be expansion play more than gradual renewal
VLGC rates ease from record-shattering highs
US propane exports are up 20% year to date, which is helping to offset the newbuilding delivery schedule for very large gas carriers, according to Jefferies. VLGC spot rates fell from their recent record highs, but remain elevated
Russian diesel ban and Europe’s gasoil shortfall to push demand for product tankers higher
Seaborne flows of middle distillates to recalibrate yet again if Russia’s diesel ban extends through October
Japan’s three shipping giants team up to carry liquefied hydrogen
The trio plan to put the first large-scale LH2 carrier in operation by 2024
Vafias orders pair of LPG/ammonia carriers in Japan
Spree running to 33 ships with accent on larger units than before seems to be expansion play more than gradual renewal
The uses and abuses of fixed premium P&I
Emergence of dark fleet means non-mutual providers may have a larger market share than previously supposed. But participants stress this well-established commercial line is certainly not synonymous with subterfuge
Odjfell to test solid oxide fuel cell on chemical tanker
Odfjell will start testing a solid oxide fuel cell on a chemical tanker to demonstrate that the technology can cut emissions for deepsea ships
Seapath and Pilot team up for first US Gulf dedicated LNG bunkering station
Libra Group subsidiary and LNG terminals specialist aim to start serving vessels in Galveston Bay area by mid-2026
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