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

Crude oil tanker Brightoil Glory
07 Sep 2018
Escalating cost estimates have prompted Brightoil’s audit committee to hire an independent adviser to help review the financial statements.
Maran Hermione
06 Sep 2018
Sembcorp Marine secures Maran Tankers contract for installing marine scrubbers and ballast water management systems on 13 vessels.  
Crude oil tanker Ramlah
05 Sep 2018
The increase in steel prices has prompted a wave of vessel scrapping that had retreated during the Eid holidays.
COSCO Shipping vessel at sea
30 Aug 2018
Low tanker rates have pushed CSET into the red in the first six months of 2018, but its LNG profits have expanded at a healthy clip.
28 Aug 2018
An in-depth Fairplay data analysis of quarterly cash flows of public tanker and bulker companies reveals different approaches towards financing and investing
Chinese crude tanker at sea
28 Aug 2018
China could import more Iraqi crude, having inked various co-operative agreements with OPEC’s second-largest producer. 
2001-built crude oil tanker DS Vector
22 Aug 2018
IHS Markit’s data show that so far this year, 25 VLCCs have been scrapped and another 6 have been sold for recycling.
A tanker departing Venezuela’s Lake Maracaibo
21 Aug 2018
An agreement to pay a USD2 billion settlement is a plus for tankers, but it could serve as only a temporary reprieve for Venezuela’s PDVSA.
Eagle Bergen
20 Aug 2018
AET has ordered a Suezmax shuttle tanker, which will be employed on timecharter to Shell in Brazil.
Ship recycling activity seen here.
15 Aug 2018
Tanker recycling sales have started to resume in Bangladesh while demolition sales to Turkey have halted amid the currency crisis there.