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Just over a month ago we put out a note on the collapse in oil prices and the pressures in the market from the significant loss in global oil demand because of ‘lockdowns’ against covid-19. Since then, estimates of demand losses have been even greater, and oil prices took another tumble at end April (only …
Several spot tankers’ freight deals to deliver around half a million mt of gasoil and jet fuel into Europe have been cancelled in the last few days as refineries in the Middle East reduce output and countries in Europe struggle to handle surplus oil products due to varying levels of coronavirus-related lockdowns, industry sources across …
Cancelled Asia-Europe freight fixtures to pressure rates lower – sources Read More »
For the first time in a decade, large numbers of ships are heading for lay-up as the COVID-19 pandemic crushes demand for consumer goods and widespread travel restrictions temporarily end passenger cruising. Cargoes carried on containerships are set to fall by 10 percent this year, the largest decline in this sector’s 64-year history. Owners of …
Owners look to lay-up as they navigate COVID-19 trade declines Read More »
Almost no facet of our global economy has been immune to the COVID-19 crisis. Much has been said about the disruption in more familiar sectors such as airlines, restaurants, and sports – but the long arm of COVID-19 has also reached out to sea, and is affecting our “blue economy”. This collection of formal and …
8 ways to rebuild a stronger ocean economy after COVID-19 Read More »
Two Singapore-based executives of consultancy EY have been appointed as the Interim Judicial Managers (IJM) of Singaporean shipping firm Ocean Tankers (Pte) Ltd, a unit of troubled oil trader Hin Leong Trading Pte Ltd, EY told Reuters on Tuesday. The appointment came into effect on Tuesday, a spokeswoman from EY said in response to a …
Hin Leong shipping unit Ocean Tankers placed under court-appointed supervisor Read More »
Edward Liu, Legal Director with Hill Dickinson Hong Kong, has been appointed as a member of the Steering Committee on Mediation and its Public Education and Publicity Sub-Committee each for a new term from 1 January 2020 to 31 December 2021. Mr Liu was informed of his appointment on 6 May by the Secretary for …
Oiler on Oil products tankerDuration of contract: 6+-1Vessel’s Type: Oil products tankerDWT: 15441Year built: 1999 Interesados: odessa@tenetmarine.com.ua
The government of West Africa’s Ghana is pushing for a fast-track development of a new oil discovery made by domestic operator Springfield E&P through a unitization agreement between Springfield and Eni as it came to light that the same reservoir straddles both Eni’s Sankofa field and Springfield’s Afina discovery. Premium content You are currently not …
The UK Chamber of Shipping — the voice of the country’s shipping industry — has urged the UK government to exempt seafarers and maritime workers from any quarantine restrictions planned to be imposed. The trade association has also called on the government to provide the industry with urgent clarification on the rules around the fourteen-day …
UK asked to exempt 200,000 seafarers, maritime workers from quarantine restrictions Read More »
