The LNG market softened this week, with shrinking cargo enquiry and a growing tonnage list putting pressure on freight rates. On the BLNG1 Australia–Japan route, rates eased by $800 week-on-week to settle at $73,500/day. The Pacific market remained relatively stable,...

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Oman has said positive talks have been taking place with Iran over an agreement to secure a shipping route through the Strait of Hormuz, as Tehran warned that any deal would not see an immediate reopening of the vital waterway. Both sides suggested on Saturday that...

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Competing proposals from Tuvalu, Brazil, Liberia and a four-country group can take the IMO’s Net-Zero Framework in very different directions. This November, the IMO’s Marine Environment Protection Committee (MEPC) will head back to the drawing board with competing...

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Japan has proposed easing greenhouse gas fuel intensity (GFI) reduction targets from 2030 onwards and replacing the IMO Net-Zero Fund with a “direct contribution” mechanism. The Net-Zero Framework (NZF) was approved at MEPC 83. It introduced a two-tier GHG fuel...

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Oil-producing countries that have frequently experienced blockages in major Middle Eastern shipping routes, such as the Strait of Hormuz and the Red Sea due to wars, are increasingly purchasing oil tankers directly—a unique trend. Traditionally, oil-producing nations...

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