The last quarter of the year has not started well for tanker owners. Spot rates on key routes are hovering at around breakeven, demand on major routes looks set to remain weak for some time, and there are prospects of more oil being pumped into a...

Salvors have managed to board the stricken VLCC New Diamond which suffered a serious fire following a boiler room explosion on 3 September off Sri Lanka that left one dead.

Sri Lankan and Indian Naval forces are working together to try and bring under control a fire onboard the laden VLCC New Diamond that erupted on the vessel at 8am on 3 September, leaving one crew member dead.

Tsakos Energy Navigation (TEN) chairman Nikolas Tsakos sees positive times ahead for VLCCs believing that “the worst is behind us”.

China Merchants Energy Shipping (CMES) has announced that the company is to order four very large crude carriers (VLCC) to further expand its tanker fleet.

Sanctions are not something generally seen as good for shipping, as they usually impede free trade, but the latest US sanctions against Cosco for carrying Iranian oil have caused the VLCC market to skyrocket.

The last very large crude carrier (VLCC) owned by Hong Kong-based Brightoil, Brightoil Gem, is to be auctioned via Chinese online platform Taobao.