Cosco expanding its tanker fleet
Cosco Shipping Energy Transportation ready to commission 11 newbuildings at a price of $1.1bn
Aframax freight rates soaring
Sanctions against Russia targeting its shadow fleet have driven up freight rates for ESPO crude oil
Shell suspends its Red Sea shipments
The oil giant fears further escalation after the US and British attacks against the Houthis
Maersk takes over Penfield Marine
The US shipping company that operates 83 tankers is to be merged with the Danish big carriier
IEA report, oil demand down in 2024
Next year, crude oil consumption will drop to 900,000 barrels per day. No growth-rate change in 2023
Crude oil consumption dwindling
Oil consumption will fall by approximately 240,000 barrels a day in the fourth quarter of the year
Thumbs up to Russian oil embargo
The 27 EU countries all agree: crude oil imports from Russia to be cut by 90% by the end of 2022
Scorpio running at a loss in 2021
The Monaco-based company closed last year reporting a net loss of 234 million dollars
Crude, is this the recovery year?
Belgian company Euronav is confident that the tanker market will soon be returning to 2019 levels