BIMCO: Tanker Market strengthens despite slowing oil demand growth

Supply/demand balance For crude tankers, we forecast that the supply/demand balance will tighten further during both 2024 and 2025. Low fleet growth, along with increasing sailing distances, create the foundation for the improvement despite a slowing of growth in oil demand. The product tanker supply/demand balance is also expected to tighten in 2024 but weaken …

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UN: Applying the Law of the Sea to Protect International Shipping

In recent decades, global shipping—carrier of 80 per cent of world trade—has faced numerous threats that challenge the long-established right to freedom of navigation for all merchant ships. Piracy, hijackings, armed robbery, regional conflict and the COVID-19 pandemic have put seafarers’ lives and well-being at risk—and, by extension, threatened to disrupt world trade and supply …

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Aframax dirty tonne days from Med/UK Continent to the Baltic / Black Sea

The Aframax dirty tonne days experienced a significant surge in growth starting from mid-January, particularly in the route from the Mediterranean to the Baltic/Black Sea. By the end of February, the freight market sentiment once again showed weakness in the VLCC MEG-China route, despite hopes for an upturn. Concurrently, the number of vessels in Ras …

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