Very Large Crude Carrier (VLCC) News Monitoring

US Sanctions Disrupt Iranian Crude Flows to China, Vortexa Says

(Bloomberg) -- Iranian crude exports to China have been disrupted by broader US sanctions on tankers, according to Vortexa Ltd., squeezing oil flows to the OPEC producer’s most important customer. Most Read from Bloomberg Some November cargoes remain …

DHT offloads oldest VLCC for $43.4m

DHT, the New York-listed owner of very large crude carriers, has entered an agreement to sell its oldest vessel DHT Scandinavia (IMO: 9315147) for $43.4m to an undisclosed buyer. The vessel will be delivered in January 2025, the company said in a statement …

Angelicoussis finds Hong Kong buyer for ageing VLCC

AsiaEuropeGreater ChinaTankers Scorpio International Invest from Hong Kong has emerged as the buyer of an 18-year-old VLCC sold by Greece’s Angelicoussis Group, adding one of the oldest crude tankers in the Greek heavyweight’s fleet, the Daewoo-built Maran …

ExxonMobil fixes Yasa VLCCs for a year as brokers note period charter rates dipping

Weaker VLCC spot rates are dragging down term deals, allowing charterers to secure tonnage more cheaply. UK broker Braemar said ExxonMobil has booked two Yasa Tankers VLCCs for a year at $41,500 per day: the scrubber-fitted 314,000-dwt Yasa Scorpion (built …

VLCC rate woes leave Hunter Group $18,000 per day short of charter breakeven

Norway’s Hunter Group moved further away from breaking even on its VLCC charter bet last month. The Oslo-listed shipping investor said spot earnings for its two tankers averaged $34,130 per day in November, down from $39,795 per day the month before. …

Shadow VLCCs lined up for demolition

Iranian oil prices to China hit new multi-year highs as sanctions hit

SINGAPORE: The price of Iranian crude oil sold to China has risen to the highest in years as fresh US sanctions have tightened shipping capacity and driven up logistics costs, trade sources and analysts said. Rising prices for Iranian oil as well as …

Hydrogen Ships Are Seeing Same Pattern As All Hydrogen Fleets

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News! As the years pass and more re-enactments of the Odyssey of the Hydrogen Fleet are played out, they get staged in multiple settings, much like Shakespeare’s Tempest …

Owners circulating shadow fleet VLCCs for demolition as sanctions put Chinese imports under pressure

The floodgates may be set to open for the scrapping of older VLCCs, with shadow fleet tankers touted as prime demolition candidates. UK shipbroker Braemar said two unnamed vessels with links to Iranian business are being “pushed” in the recycling market as …

Kpler analyst throws cold water on Donald Trump-Iran VLCC story

If US president-elect Donald Trump can kneecap Iran’s oil exports, will other Middle East exporters pick up the slack? Maybe not, according to Kpler senior oil analyst Homayoun Falakshahi, who said fellow Opec members Saudi Arabia and the United Arab …

International Seaways on the verge of VLCCs-for-MRs tanker swap with Sinokor

International Seaways is on the verge of an innovative tanker swap with South Korean shipowner Sinokor Merchant Marine, market sources say. Brokers on both sides of the Atlantic told TradeWinds that New York-listed Seaways is swapping a pair of older VLCCs …

Bad news for VLCCs as Opec to keep taps turned down until spring before gradual opening

Opec and its allies have reportedly decided to keep the taps turned off, but there is a light at the end of the tunnel for VLCC owners. Opec+ decided to delay oil production hikes until April and then begin a slow unwinding process through to 2026 at an …

VLCC asset values track close to each other, except one: Resale

VLCC resale prices are all over the place. While other valuations for the largest crude tankers tend to group, several valuations for a vessel just hitting the water diverge considerably. Clarksons’ assessment is the highest at $149m, but VesselsValue …

CSET submits order for future fuel-ready 307,000 dwt tanker sextet

COSCO Shipping Energy Transportation (CSET), part of China COSCO SHIPPING Corporation Limited, has recently signed a construction contract with compatriot COSCO Shipbuilding Trading and Dalian Shipbuilding for six eco-friendly 307,000 dwt crude oil tankers …

Ray of light for tankers as latest US sanctions crackdown wipes out 2025 VLCC newbuilding deliveries

The sweeping sanctions issued by the US on Tuesday have more than wiped out the 2025 VLCC orderbook, Fearnley Securities analysts say. Fredrik Dybwad and Nils Thommesen said the blacklisting of 21 tankers, including 10 VLCCs, was the equivalent of phasing …

CSET sets up new entity focused on LPG shipping and hydrogen

China’s tanker major COSCO Shipping Energy Transportation (CSET) has established a new subsidiary centered around LPG fleet development and hydrogen-based new energy business. Courtesy of COSCO Shipping The new entity, Dalian COSCO Shipping Energy Supply …

DHT offloads oldest ship 

New York-listed supertanker specialist DHT is selling its oldest ship for $43.4m. The Svein Moxnes Harfjeld-led VLCC owner said it had struck a deal with an undisclosed buyer for the 2006-built DHT Scandinavia. Delivery of the Hyundai-built unit is …

DHT Holdings, Inc. announces sale of the DHT Scandinavia

HAMILTON, BERMUDA, December 12, 2024 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) has entered into agreement to sell the DHT Scandinavia, a 2006 built VLCC, for $43.4 million. The Company expects to deliver the vessel to its new owner in …

December 2024 Review

Changes are afoot in the Iranian-linked VLCC fleet with less than six weeks until Donald Trump is sworn in as the 47th president of the US. The US imposed further sanctions aimed at Iran’s tanker fleet this month, while China has started to ease imports of …

Warehousing And Storage Services: A Key Driver In the Portable Temperature And Humidity Data Loggers Market 2024

The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—for a limited time only! LONDON, GREATER LONDON, UNITED KINGDOM, December 16, 2024 /⁨EINPresswire.com⁩/ -- The Business Research Company’s …

BRASI Redefines Supply Chain Education with Industry-Relevant Innovations

Empowering supply chain leaders with innovative education, practical insights, and global expertise to master tomorrow’s challenges today. STROUDSBURG, PA, UNITED STATES, December 14, 2024 /⁨EINPresswire.com⁩/ -- In an era where supply chain …

DMGgo and Wedge Partner to Tackle Record-Breaking Online Shopping Boom

DMGgo Partners with Wedge to Streamline Delivery Driver Hiring Amid Unprecedented Holiday Surge WESTLAKE, TX, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- Grand Rapids, MI, December 2024 – Behind every package, delivery, and smiling …

SEAPEAK LLC DECLARES DISTRIBUTIONS ON SERIES A AND B PREFERRED UNITS

HAMILTON, BERMUDA, December 13, 2024 /⁨EINPresswire.com⁩/ -- Seapeak LLC (Seapeak or the Company) has declared cash distributions of $0.5625 per unit on the Company’s Series A preferred units (NYSE:SEAL PR A) and $0.5313 per unit on the Company’s …

8 Trends Influencing U.S. Freight Railroading In 2025

Consumer confidence, energy pricing & deregulation, among other factors, provide a favorable environment for short-term growth and long-term industry planning MARLTON, NJ, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- According to …

The Role of Logistics in Supporting Circular Economies: Opportunities and Innovations

Exploring How Logistics Supports Sustainability Through Innovative Circular Economic Practices TORONTO, ONTARIO, CANADA, December 13, 2024 /⁨EINPresswire.com⁩/ -- As sustainability becomes a global priority, the logistics sector is emerging as a …

Advancing Poultry Production: The Role of Innovative Live Haul Trailers

PHILADELPHIA, MS, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- Poultry production is a cornerstone of Mississippi’s agricultural economy, contributing over $2.8 billion in economic activity in 2022, according to USDA data. Supporting …

LOBO Systems: A 2025 Revolution in Safe and Cost-Effective Work Platforms

DERBY, DERBYSHIRE, UNITED KINGDOM, December 13, 2024 /⁨EINPresswire.com⁩/ -- As industries strive for greater efficiency and safety in the face of rising costs and tighter schedules, LOBO Systems offers a timely alternative to traditional …

Loftie Powers Commerce for Dreamy Consumer Experience with Stord

After experiencing a 518% increase since 2020, disruptive sleep-tech company incorporates world-class commerce enablement platform to power continued growth. ATLANTA, GA, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- Loftie, the premier …

Intermodal Freight Transportation Market worth $109.5 Billion by 2032, Fueling Global Trade Growth

Intermodal transportation is undergoing a transformation driven by technological advancements such as the Internet of Things (IoT), AI, and blockchain. WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- According …

Rail Logistics Market Expected worth USD 3,579.7 Billion by 2031 | Deutsche Bahn AG, CEVA Logistics AG, DB Schenker

WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- According to the report published by Allied Market Research, the global rail logistics market accrued revenue worth $1,995 billion in 2021, and will reach $3,579.7 …

Same Day Delivery Market to Witness Accelerated Growth by 2027: Key Trends Unveiled

Growth in the e-commerce industry and increase in trading activities due to globalization drive the global same day delivery market. WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- Factors such as development …

What’s Driving the Shift to 40% Smart Warehouses in India’s Warehousing and Cold Chain Market by 2030? : Makreo Research

India's warehousing market is shifting to smart solutions, with 40% of warehouses adopting automation by 2030, driving growth and technological advancements. MUMBAI, MAHARASHTRA, INDIA, December 13, 2024 /⁨EINPresswire.com⁩/ -- Asia's …

Safe Ship Moving Services Launches Charitable Initiatives to Support Communities in Need

Safe Ship Moving Services integrates philanthropy with business, aiding communities through disaster relief, charitable initiatives, and education support. BOYNTON BEACH, FL, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- Safe Ship …

ENSESO4Food and SGS Partner to Empower Global Food Businesses with FSMA 204 Compliance

Making FSMA 204 Easy: Empowering Businesses of All Sizes. BEAUFORT, SC, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- ENSESO4Food, a global leader in traceability solutions, and SGS, the world’s leading testing, inspection, and …

Cold Chain Logistics Market to Expand at a CAGR of 14.6% will Reach $782.27 billion by the End of 2030

Increase in refrigerated warehouses and the rise in growth of the processed food and pharmaceutical sectors drive the global cold chain logistics market. WILMINGTON, DE, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- According to a …

Contract Logistics Market Regional Outlook, Opportunity, Assessment, Forecast till 2031

The global contract logistics market is driven by e-commerce growth, increasing trade agreements, and expansion in manufacturing sectors. WILMINGTON, DE, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- According to a new report published …

LNG Bunkering Market Estimate to Hit $5.14 Billion by 2027

Global LNG Bunkering Market projected to grow at a CAGR of 45.2% from 2020 to 2027 WILMINGTON, DE, UNITED STATES, December 13, 2024 /⁨EINPresswire.com⁩/ -- According to a new report published by Allied Market Research, the global LNG bunkering …

Change to Pacific Green's Accounting Policy

DOVER, DE, Dec. 13, 2024 (GLOBE NEWSWIRE) --  Pacific Green Technologies, Inc. ("Pacific Green"), (OTCQB: PGTK) announces that it has amended some material accounting policies following extensive engagement with its auditors. These updates will …

Solution Systems’ Advanced Inventory to G/L Reconcile Report Now Available on Microsoft AppSource

Solution Systems announces the Advanced Inventory to G/L Reconcile Report, now on Microsoft AppSource, enhancing Dynamics 365 Business Central usability. ROLLING MEADOWS, IL, UNITED STATES, December 12, 2024 /⁨EINPresswire.com⁩/ -- Solution …