VLCC Market: Is the Bottom In?

Clean LR2 LR’s in the MEG were subject to increased downward pressure again this week. The 75Kt MEG/Japan TC1 index dipped 15.28 points to WS135.28. The 90kt MEG/UK-Continent of TC20 similarly was knocked down to $4.2 million (down $356,250). West of Suez, Mediterranean/ LR2’s on TC15 dropped $641,000 below $4 million to $3.49 million. LR1 …

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The Role of Export Finance in Global Shipping’s Sustainable Growth

From mitigating risks associated with financing large-scale maritime projects to promoting sustainability and compliance, export finance plays a pivotal role in the shipping industry. Shipping moves 11 billion tons of goods each year, amounting to 1.5 tons per person worldwide, underscoring its indispensable role in international trade and economic development. Therefore, export finance strengthens the …

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Product tankers face short-term headwinds from dirty tanker competition: Norden

Product tanker markets are experiencing short-term downward pressure with more dirty tankers being used to transport refined products in recent weeks, while dry bulk freight rates remain well supported by healthy tonnage demand, Danish ship operator Norden said Aug. 8. Since last month, dirty tankers up to VLCCs have been cleaned and used to ship …

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