Surge in tanker rates on oil storage unlikely to continue beyond Q2
Asian clean and dirty tankers have just had one of their best first quarters in years as traders rushed to store oil products on the water as the COVID-19 pandemic Continue Reading
Supertanker Rates Explode As Traders Race To Store Oil
Supertanker rates are surging again, for a second time this month, as a growing global glut is making more traders and companies look to charter carriers to store oil at Continue Reading
Coronavirus Rattles Shipping Industry as Supply Shock Moves to Demand Decline
“In China we had a supply shock, a production shortage from closed factories and reduced truck numbers,” Jeremy Nixon, chief executive of Japan’s Ocean Network Express, the world’s sixth biggest Continue Reading
Coronavirus Rattles Shipping Industry as Supply Shock Moves to Demand Decline
“In China we had a supply shock, a production shortage from closed factories and reduced truck numbers,” Jeremy Nixon, chief executive of Japan’s Ocean Network Express, the world’s sixth biggest Continue Reading
Trapped at Sea by Covid-19 Lockdowns, Crew Members Plead for Help
When Capt. Nilesh Gandhi’s oil tanker docked in coronavirus-ravaged China early last month, he understood that he would not be able to disembark and fly home as planned. He would Continue Reading
Tanker Rates Explode As Markets Brace For Record Oil Glut
The largest oil supply surplus the world has ever seen in a single quarter is about to hit the global market from April, creating an imbalance of around 10 million Continue Reading
There Aren’t Enough Containers to Keep World Trade Flowing
A shipping container shortage that’s left everything from Thai curry to Canadian peas idling in ports may be about to get a whole lot worse as China steps up its Continue Reading
Truckers Facing Coronavirus Hurdles in Keeping Supply Chains Moving
Truck-stop restaurants in some states have shut dining rooms and switched to takeout service to comply with health orders aimed at controlling the spread of the virus. On Tuesday, Pennsylvania Continue Reading
Supertanker Rates Soar 678% As Saudi Arabia Floods The Oil Market
As Saudi Arabia and Russia began an all-out oil price war for market share, the shipping industry is going through a supertanker run and charter rates for very large crude Continue Reading
Asian Oil Buyers Look For Smaller Ships As Supertanker Rates Explode
Asian refiners are increasingly looking to book smaller tankers to load oil from the Middle East as the freight costs for chartering supertankers have surged after Saudi Arabia pledged to Continue Reading