A pandemic-led demand crunch is causing storage tanks around the world to fill up with oil that no one wants.
Nearly 90% of the globe’s 4.3 billion barrels of crude oil storage is full, according to the research...
Hin Leong Trading and Ocean Tankers filed for bankruptcy protection.
Singapore hosts the largest number of oil tankers at anchor in the world.
Hin Leong owns and operates Universal Terminal, one of the largest crude oil terminal and...
Singapore port is showing how you can hold it steady during a pandemic and look beyond it.
Its high-end bunkering facility, digital technology and regulatory mechanisms is making it sail through COVID19
They have tied up with startups,...
According to an article published in Seeking Alpha and authored by Clark Schultz, the Baltic dry index is facing a plunge due to a lull in the global economy.
Market conditions
The Baltic Dry Index fell 4.67% to 694 points...
The demand for new ship acquisitions is diminishing.
Shipowners are refraining from more investments.
Owners are adopting a more cautious approach to their investment strategies.
Dry bulk side witnessed a further plunge of activity during this past week.
...
The Baltic Exchange added quarterly assessments of the cost of operating crude oil carrying Aframax tankers and clean product carrying Medium Range (MR) tankers to its growing suite of shipping investor tools, reports Market Screener.
Assessments by independent third-party
The new...
The plight of cruise ships, stranded off shore with sick passengers and crew has been the news in recent past. e
The current COVID-19 pandemic is having a significant effect on the shipping industry as a whole.
The...
The Baltic Briefing has released a report about the dry bulk market of the 17th week of shipping activities of this year. The report dated 24th April highlights the plight of the dry bulk market at the on-sight of...
In a major development, Dr Martin Stopford, eminent shipping economist and President of Clarkson Research Services, revealed that he believes, Covid-19 pandemic could prove to be the catalyst which forces shipping to undergo the radical adjustments needed if it...
Prices to become normal if OPEC+ members announce early production cuts.
A plus is escalation of military activity in the Middle East.
The real plus would be if U.S. producers announce output cuts.
This news could trigger a...
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