Tightening fleet capacity, lingering geopolitical conflicts and robust US crude exports are expected to boost tanker freight in 2024 despite ongoing OPEC+ supply cuts and a possible slowdown in oil demand growth, market participants and analysts said Jan. 8. A flurry...

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Nippon Yusen Kaisha (NYK), the major Japanese shipping company and among the world’s largest owners and operators of LNG carriers, has ordered 4 × 2 × 5G70ME-GA Mk. 10.5 engines in connection with the construction of 4 × 174,000 cbm. LNG carriers. All eight engines...

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Cash premiums for fuel oil were rangebound in single-digit premiums in Asia, though a rare trade for 180-cst high sulphur fuel oil (HSFO) emerged on Tuesday. PetroChina sold 20,000 metric tons of 180-cst HSFO to Trafigura on Tuesday, for loading between Jan. 31 and...

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The Baltic Exchange’s dry bulk sea freight index fell on Tuesday to a nearly seven-week low in its worst showing in more than a month, as rates across vessel segments hit multi-week lows. The overall index, which factors in rates for capesize, panamax and supramax...

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Russia has lifted duties linked to the rouble-dollar exchange rate on most coal exports, according to a decree published on the government’s website. The export duties — which were introduced on a number of goods in October and had been expected to last until the end...

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