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...
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 ...
Saudi Arabian shipowner Bahri has completed its current very large crude carrier (VLCC) fleet expansion with the delivery of 10th newbuilding from Hyundai Samho Heavy Industries (HSHI).
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.
Defying difficult market conditions traffic in the world's busiest shipping lane, the Malacca Straits, continued to grow over the last three years hitting an all time high of 84,456 transits in 2017.
Foresight Group run by London-based entrepreneur Ravi Mehrotra has bought a1999-built VLCC from John Fredriksen’s Frontline Shipping for an undisclosed sum.
Saudi Arabia’s Bahri is continuing to consolidate its position as the world’s largest owner and operator of VLCCs with delivery of its 42nd VLCC.
The joint venture between Saudi Aramco, Bahri, Lamprell and Hyundai Heavy Industries to build a $5.2bn mega-yard in Saudi Arabia has been officially launched.