Diversions from transiting the Red Sea to avoid Houthi attacks have significantly strengthened ton mile demand to the benefit of investors listed product tanker owners.
Over 50 vessels attacked by Houthi rebels in the Red Sea, thousands of ships diverted via the Cape of Good Hope, and billions of dollars of trade disrupted in the Red Sea crisis.
The Deputy Administrator for the Panama Canal Authority (ACP), Ilya Espino de Marotta, says the waterway does not expect changes to current vessel transit restrictions until at least April.
CMB has launched its mandatory takeover bid for Euronav, a test of shareholder appetite for its vision of a sustainability-focussed future for the company.
The Norwegian-Japanese joint company Knutsen NYK Offshore Tankers (KNOT) has ordered for up to four suezmax shuttle tankers with Cosco Shipping Heavy Industry (Zhoushan).
Singapore shipyard group Seatrium has renewed a long-term contract with GasLog LNG Services and Shell International Trading and Shipping Company (STASCO) for the repair and upgrading of their fleet of LNG carriers.
The Lloyd’s Register (LR) and five Greek ship owning companies have banded together to launch a global nonprofit Maritime Emissions Reduction Center (M-ERC) in Athens to optimise the efficiency of the existing fleet.
UK-based wind propulsion specialist, BAR Technologies, and Spanish floating wind developer, Nervion Naval Offshore, have set up a partnership to manufacture, sell and supply BAR Technologies’ WindWings sails in Spain.
