Much to the chagrin of VLCC owners facing overcapacity, speculative orders in this tanker class continue to pile up. Is it time to get worried?

News & Analysis

2016-built crude oil tanker, Gem No. 1
19 Jul 2018
Japan’s shipping major has sealed a three-year charter deal with US energy group Koch for a newly constructed VLCC.
A Suezmax vessel
18 Jul 2018
There is renewed optimism for the Suezmax sector’s prospects, as the orderbook is limited and more tonnage is expected to be scrapped as the sulphur deadline draws near.
1982-built LPG tanker Gaz Unity
04 Jul 2018
Six VLGCs have been scrapped or sold for scrap so far in 2018 compared with just three in the past two years.
02 Jul 2018
US oil major ExxonMobil has secured a seven-year charter deal for a newly built Livanos VLCC.
2001-built DS Vector
27 Jun 2018
Tanker scrap sales cool amid the fluctuating market conditions and weak currency in Pakistan.
1999-built New Andros
20 Jun 2018
The Polemis family has sold its fifth VLCC for scrap in Bangladesh so far this year.
Iran’s Kharg Island Oil Terminal
19 Jun 2018
Rampant uncertainty and escalating risks surrounding renewed US sanctions are prompting many tanker interests to spurn crude cargoes from Iran, at least until the political dust settles.
Permian crude output
14 Jun 2018
Booming production in a single region in the United States could have significant consequences for crude oil, LNG, and LPG shipping demand.
Anna Angelicoussis (left) of Alpha Gas Jung Sung-leep of DSME
08 Jun 2018
Daewoo Shipbuilding & Marine Engineering has clinched an order for a VLCC pair from Alpha Gas, owned by Anna Angelicoussis. The order is scheduled for delivery in the first half of 2021.
Crude tankers in the sea
08 Jun 2018
While demand for crude oil and petrochemical products is expected to remain healthy, tanker capacity growth will continue to depress freight rates and earnings in 2018.