DHT Holdings is the latest large tanker owner to take the plunge on retrofitting Alfa Laval scrubbers to 12 very large crude carriers (VLCCs) to meet the requirements of the International Maritime Organization's (IMO) 0.5% sulphur cap global from 2020.
Euronav is now the owner of the world's only two ultra large crude carriers (ULCCs) - the biggest tankers in the world.
For tanker owners, there is much at stake on 22 June when OPEC oil ministers gather in Vienna for what is likely to be a particularly bad-tempered meeting.
Bahrain shipyard ASRY has been contracted by Arab Maritime Petroleum Transport Co (AMPTC) to install ballast water treatment systems (BWTS) on part of its fleet.
Shipping is definitely on its way out of the recession but there is still some way to go. This was one of Martin Stopford’s key messages as he spoke to journalists at a press conference in Hamburg on Friday, held in advance of this year’s record-breaking SMM event.
Despite record levels of tanker recycling in the early months of the year, tanker analysts and brokers are increasingly concerned about continuing tonnage oversupply, particularly in the VLCC sector where a series of new contracts have been placed recently with more to follow.
Shipowners and commodity traders are now digesting the impacts of President Donald Trump’s widely anticipated announcement that the US would pull out of the six nation accord reached with Iran in 2015. The 2015 agreement with Iran- officially the “Joint Comprehensive Plan of Action” (JCPOA), with the European Union also a participant, saw a rigorous regime of economic sanctions against Iran rolled back.
Bahri has confirmed an attack earlier this week on one its VLCCs by Houthi rebels in the Bab al-Mandab Straits, but a wider threat to commercial shipping is not seen.
With 3.5m dwt of tankers scrapped so far this year alone, VesselsValue.com noted that high scrapping and market consolidation will contribute to better returns for owners over the next several years.