The global dry bulk fleet is facing a sharp contraction in younger, more efficient tonnage, with the supply of vessels under 15 years of age projected to fall by 22% by 2028, according to new analysis shared by Oliver Kirkham, Senior Valuation Analyst at Veson...

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The ship recycling market was further hampered by the developments of the past week and the escalation of warfare between Iran and Israel. In its latest weekly report, Best Oasis, a leading cash buyer of ships said that “the ship recycling market enters the week on a...

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Ocean Network Express (“ONE”) announced today the naming of ONE Singapore, the sixth vessel in a series of 20 ammonia/methanol ready container vessels. The naming ceremony took place at the Hiroshima Shipyard of Imabari Shipbuilding Co. Ltd. in Japan, marking another...

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The European Commission is set to propose on Tuesday a ban on EU imports of Russian gas and liquefied natural gas by the end of 2027, using legal measures to ensure the plan cannot be blocked by EU members Hungary and Slovakia. The proposals will set out how the...

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The global petrochemical industry, as a first flagged up in early 2022 and discussed again last week, is in a deep and long-term structural downturn (the result of getting Chinese demand and capacity additions wrong) which has a few more years to run. Despite all the...

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China is continuing to build up crude oil stockpiles as it refines substantially less than what it has available from imports and domestic production. This allows the world’s biggest oil importer to buy lower volumes in coming months as prices surge over Middle East...

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