VLCC Tanker Market Riding the Wave of Middle East Tensions

Clean LR2 LR2’s in the MEG saw the inevitable spike this week. The TC1 75kt MEG/Japan index sailed up 91.95 points to WS211.39. A TC20 90kt MEG/UK-Continent trip also went from $3.56mill to $5.17mill. West of Suez, Mediterranean/East LR2’s also ticked up $251,000 over...
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US urges China to dissuade Iran from closing Strait of Hormuz

U.S. Secretary of State Marco Rubio on Sunday called on China to encourage Iran to not shut down the Strait of Hormuz after Washington carried out strikes on Iranian nuclear sites. Rubio’s comments on Fox News’ “Sunday Morning Futures with Maria Bartiromo” show came...
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DNV: Ageing fleet driving increase in incidents

A clear uptick in casualties in 2024, driven by machinery damage/failure and an ageing fleet, stands out in the latest analysis of Lloyd’s List Intelligence casualty data. The number of maritime casualties rose by 15% in 2024. Coupled with a 7% rise in casualties in...
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Tanker Market Caught in War and Geopolitics “Fever”

Tanker Market Caught in War and Geopolitics “Fever”
With the threat of the closure of the Hormuz Strait gaining substantial ground after the weekend’s developments, it’s safe to say that any analysis about the tanker market can immediately become obsolete. This is further testament to the volatile nature of today’s...
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