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BIMCO Tanker Market Report: OPEC+ ramps up oil supply while demand growth slows

“We forecast a balanced development in the crude tanker market in 2025 and 2026 while we expect the product tanker market to remain weaker than in 2024. The product tanker suffers under the weight of increasing supply growth and weaker demand growth due to shorter sailing distances,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO. …

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Tanker loads naphtha at Novatek’s Ust-Luga terminal, data shows

Panama-flagged tanker Star Energy was being loaded at Novatek’s terminal at the Baltic Sea port of Ust-Luga, where the company’s fuel-producing complex was damaged by fire last week, data from industry sources and LSEG showed on Thursday. Debris from a destroyed Ukrainian drone caused a fire at Novatek’s Ust-Luga terminal early on August 24, the …

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