Tag: Tanker Market

March 11, 2024

The tanker market could be set for another shift, if Russia’s oil exports force buyers in China and India to look elsewhere. In its latest weekly report, shipbroker Gibson said that “with OPEC+ set to roll over existing production cuts […]

September 29, 2023

The product tanker is expected to be impacted by the lack of diesel supplies, after Russia’s decision to ban exports. In its latest weekly report, shipbroker Xclusiv Shipbrokers said that “the world’s oil refineries are unable to produce enough diesel, […]

January 13, 2022

The swift reintroduction of international travel bans to stem the spread of the Omicron variant of COVID-19 has derailed the already faltering turnaround in rates and earnings for the global tanker market. In November it looked like a cold winter […]

May 11, 2021

After a weekend of outages, the Colonial Pipeline operator said on Monday it expects to “substantially restore operational service” by the end of the week. Despite this vote of confidence, traders have booked at least six tankers to ship gasoline […]

November 20, 2018

The upturn is particularly present in the crude oil market, based on the data from BIMCO, with rates moving from USD 4,000 per day during the summer to USD 33,500 in October. Commenting on the drivers behind the rate hikes, […]

November 16, 2018

Frontline added that during the quarter net loss attributable to the company adjusted for certain non-cash items was USD 8.4 million. According to Robert Hvide Macleod, Chief Executive Officer of Frontline Management AS, tanker markets are beginning to rebalance following […]

August 15, 2018

As the tanker market remained week during the second quarter of 2018, Swedish tanker owner Concordia Maritime widened its net loss. The shipping company suffered a net loss of SEK 57 million (USD 6.2 million) in Q2 2018, compared to […]