Author name: admin

Tankers: VLCC Market Weakens

Clean LR2 LR freight levels in the MEG continued downward this week. The 75kt MEG/Japan TC1 index lost 20% of its value to WS144.72. The 90kt MEG/UK-Continent TC20 trip to the UK-Continent also came down to the tune of $556,250 leaving the index currently at $4.47 million. West of Suez, Mediterranean/East LR2 freight took a …

Tankers: VLCC Market Weakens Read More »

Singapore’s LSFO arbitrage inflows from West to drop further in March on Red Sea woes

Singapore’s low sulfur fuel oil arrivals from the West are expected to witness a sizeable drop for a second straight month in March, as arbitrage economics remain mostly unviable amid the ongoing geopolitical tensions in the Red Sea. The world’s largest bunkering hub of Singapore is now expected to receive around 1.4-1.7 million mt LSFO …

Singapore’s LSFO arbitrage inflows from West to drop further in March on Red Sea woes Read More »

Lower freight and costs at Turkish straits support Urals prices above $60/bbl in Russian ports

Lower freight rates and fewer penalty fees at the Turkish straits are supporting Urals crude prices at Russian ports, as Moscow’s flagship grade holds firm above the Western price cap of $60 per barrel, data from traders, the Riverlake agency and Reuters calculations showed. Urals prices have climbed above $66 a barrel in western ports …

Lower freight and costs at Turkish straits support Urals prices above $60/bbl in Russian ports Read More »

Ship sunk by Houthis threatens Red Sea environment, Yemeni government says

The UK-owned Rubymar, attacked by Houthi militants last month, has sunk in the Red Sea, Yemen’s internationally recognised government said on Saturday, warning of a “environmental catastrophe” from the ship’s cargo of fertilizer. If confirmed, it would be the first vessel lost since the Houthis began targeting commercial shipping in November, forcing shipping firms to …

Ship sunk by Houthis threatens Red Sea environment, Yemeni government says Read More »

Scroll to Top