BW LPG announced on Monday that it has exercised options to retrofit four additional tankers with LPG dual-fuel engines, bringing the company’s commitment to eight vessels with the dual-fuel propulsion technology.
DHT Holdings has saved $14.6m in bunkering from fitting scrubbers on 12 of its vessels to comply with IMO 2020, but six more retrofits face delays of an uncertain length due to the impact of the coronavirus on Chinese yards.
MISC announced that its wholly-owned subsidiary AET Tanker Holdings has clinched long term charter contracts for three newbuilding suezmax shuttle tankers from Brazil’s Petrobras.
The US has lifted sanctions on one of two units of Cosco Shipping, partially lifting trade restrictions for the Chinese shipping giant and further driving tanker rates down.
The importance of Chinese demand in the long-haul VLCC sector, and the potential impact of the Wuhan coronavirus, is casting shadows over the entire tanker market.
Teekay Tankers has inked deals to sell three suezmax tankers and close a new five-year $533m revolving credit facility to refinance 31 vessels.
The tanker market could face short-term headwinds if the impact of the Wuhan coronavirus outbreak on China’s oil demand is similar to that of SARS in 2003, according to brokers Poten & Partners.
Danish shipowner Torm has ordered two scrubber-fitted LR2 tankers from Guangzhou International Shipyard.
South Korea’s Hyundai Heavy Industries (HHI) Group has clinched newbuilding orders totalling KRW266.6bn ($230m) for four MR tankers and one VLCC.