Tankers

The International Energy Agency (IEA) in its latest report Oil 2024, suggests world demand for oil will peak in 2029 at 105.6m barrels per day and start its decline thereafter, something that has got analysts discussing what this means for crude oil tanker markets. According to UK shipbroker Gibson “firstly, for the crude tanker sector, although peak demand is in sight, the

Asia loses LNG flows to Europe, as an increasing number of US LNG cargoes are being sent to the Old Continent and the Atlantic basin to take advantage of wide premiums, Platts reported citing traders and market sources. The price spread between Asian and European spot prices nears $15/MMBtu. This week alone, at least five LNG cargoes headed to Asia were diverted

Very large crude carrier (VLCC) newbuildings have dominated the tanker ordering space in the first four months of 2021 with 32 units of 9.6mdwt, Simpson Spence Young (SSY) said. But newbuilding prices, which have steadily risen since the last quarter of last year, could stem the order flow, the world’s largest independent shipbroker added, as per Trade Winds. A very large crude