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NYK Europe warns against fragmented maritime emissions rules

Overlapping regimes for maritime greenhouse gas emissions would be “hugely detrimental” to global shipping by enacting multiple bunker fuel standards, NYK Group Europe President and CEO Carl-Johan Hagman has warned, while urging policymakers to pursue a global framework. In mid-October, International Maritime Organization member states voted to postpone the adoption of the Net-Zero Framework by …

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Excessive ordering to hurt long-term prospects of VLCCs

The VLCC market is enjoying a strong upswing, with spot earnings consistently exceeding $100,000pd as rising OPEC supply has boosted vessel demand in the Arabian Gulf. With OPEC+ targets indicating an oversupplied oil market through 1Q26, the corresponding firm stocking requirements are expected to support elevated VLCC earnings in the near term. Meanwhile, skyrocketing freight …

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Two ships of Russia’s sanctioned shadow fleet caught fire in the Black Sea off Türkiye

Two sanctioned oil tankers, the Kairos and the Virat, have caught fire in the Black Sea a few dozen nautical miles off the Turkish coast. Their crews are safe as the causes of the explosions are being investigated. Turkish authorities reported that two oil tankers linked to the notorious Russian “shadow fleet” which are on …

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