Cosco Shipping Energy Transportation announced has organisation restructuring plan with newly named departments for VLCCs and tanker operations.
Qingdao port, the leading crude oil and ore handling port of China, has started building its second 300,000 tonne-class crude oil terminal at Dong Jia Kou port area with completion scheduled by the end of 2019.
VLCC owner DHT Holdings say its scrubber fitted vessels will be configured in such a way where it can burn 0.5% or less sulphur fuel where exhaust gas cleaning units are banned.
Energy logistics and bunker supply firm Brightoil Petroleum has ditched an earlier announced plan to sell 15 oil tankers in view of the recent upturn in the VLCC market.
DHT Holdings has raised $50m in financing for its scrubber retrofit programme.
As the reality of the US sanctions on Iran bite, Greek owners are the most likely to be affected, according to VesselsValue data.
Oman Shipping Company's (OSC) spot chartering VLCC desk has paid dividends for the shipping company in terms of fixtures.