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”.

Huangzeshan oil transfer terminal in Zhejiang province has officially opened for international trade.

The tanker shipping market has enjoyed an unexpectedly strong week, with a dramatic fixing binge by Saudi Arabia’s Bahri pushing up rates to around $250,000 a day.

A large crude oil tanker caught fire in the Persian Gulf west of the Strait of Hormuz, and rescue operations have evacuated the crew to safety.

North China-based shipyard, Dalian Shipbuilding Industry (DSIC), is to build the first LNG powered VLCC for Cosco Shipping Energy Transportation.

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.

Brazil’s Açu Petróleo, a joint venture between Prumo Logística and Oiltanking, and Petrogal, reaffirmed their partnership with a renewed contract for oil transhipment until 2023 at the Açu Port Terminal in São João da Barra (Rio de Janeiro).