A stand-off has developed over the weekend between Greece and Iran over the seizure of oil tankers in the waters of Greece and the Persian Gulf.

Egypt expects Suez Canal revenues to hit $7bn in the 2021-22 financial year, ending on June 30, up 27% from $5.5bn in the last year, Finance Minister Mohamed Maait said on Saturday.

China Development Bank Financial Leasing is acquiring two LNG carriers from GasLog at a total cost of $270.4m.

The strength of the Greek-controlled fleet is at an all-time high, reflecting Greek shipowners' activity in the newbuilding and sale and purchase markets.

The continued growth of Greek shipowners sees 76-Greek-controlled fleets breaking the 1m dwt each barrier equalling the record set in 2020.

The first LNG terminal at Fangcheng port, Guangxi province is preparing to accept international vessels.

During the very last days of April, there was a fire aboard the tanker Endo Breeze transiting New York harbour’s Raritan Bay.

Iran is becoming brazen in its oil export activities despite international sanctions, and more customers are preparing for trade should sanctions be lifted.

In the year to date, scrubber-fitted VLCCs have earned about $11,000 more per day on the spot market compared with vessels using very low sulphur fuel oil (VLSFO), according to Gibson Shipbrokers.

K Line is shifting ship management of its gas and oil tankers from Japan to Singapore.