Topic
tankers
Logistics BW LPG India sells another aged VLGC in $64m disposal run
BW LPG India has agreed to sell the 2007-built VLGC BW Birch for about $64m in net cash, adding to a disposal run at the 52%-owned subsidiary of BW LPG. The sale follows the $64m disposal of sistership BW Elm and precedes a $940m newbuild programme of eight panamax VLGCs at HD Hyundai Heavy Industries.
Logistics Medcare Linked to Five-Ship MR1 Tanker Order at China's Anhui Zhongrun Heavy Industry
Greek tanker owner Medcare Shipping has been linked to an order for up to five MR1 product and chemical tankers at China's Anhui Zhongrun Heavy Industry, according to Splash247. The Wuhu-based yard confirmed a contract with an unnamed Greek owner for two firm 41,000 dwt ships and three options. No contract price was disclosed, but market indications value the firm pair at about $96m.
Logistics Yangzijiang Maritime Moves Into Stainless Chemical Tankers With Taihua
Singapore-listed Yangzijiang Maritime Development has been linked to a 4+2 order for 28,000 dwt duplex stainless-steel chemical tankers at Zhoushan Ningxing Shipbuilding, alongside Taihua Ship Management. Market indications value the firm quartet at roughly $184m and the full six-ship package at about $276m, according to Splash247.
Logistics ADNOC L&S Exercises Options for Two LNG Carriers, Lifting Newbuild Programme to 20 Ships
ADNOC Logistics & Services has exercised options for two 175,000 cu m LNG carriers at Jiangnan Shipyard, adding $444m to its newbuild bill and lifting its LNG newbuild programme to 20 ships. The company has committed around $2.7bn to vessel acquisitions and newbuildings in 2026, including a $1.3bn deal for six VLCCs and five VLGCs.
Logistics Iran blacklists 45 tankers over Strait of Hormuz rules amid fresh US sanctions threat
Iran's Persian Gulf Strait Authority has blacklisted 45 tankers for allegedly violating its rules for transiting the Strait of Hormuz, threatening fines, detention and cargo confiscation. The list includes vessels linked to ADNOC L&S, Navig8 Tankers, Bahri, Klaveness, Stolt Tankers and Sinokor. The move escalates tensions weeks after the US threatened 'the toughest sanctions in history' against Iran.
Logistics SPM Shipping enters gas shipping with $91m VLGC buy from Dorian LPG
Dubai-based SPM Shipping has entered gas shipping with the $91m purchase of the 2015-built, 84,000 cu m VLGC Clermont from Dorian LPG, according to Splash247. The deal, concluded in August, follows SPM Shipping's moves into capesize and VLCC segments. Dorian LPG has now sold three VLGCs this summer, with reported prices of $81.8m, $87.3m, and $91m.
Logistics Hormuz compliance clash traps owners between Tehran and Washington
Iran's Persian Gulf Strait Authority has blacklisted 45 vessels transiting the Strait of Hormuz, threatening fines, detention and cargo confiscation, while the US warns that complying with Tehran's regime could trigger sanctions. The list includes ships linked to ADNOC Logistics, Bahri, Sinokor and others, with 14 already attacked. The US Treasury expanded secondary sanctions to shipping, targeting five shadow-fleet vessels.
Logistics Yangzijiang Maritime orders six product tankers in $320m Haifeng newbuild deal
Yangzijiang Maritime Development has ordered six product tanker newbuildings from Jiangsu Haifeng Shipbuilding in a deal valued at more than $320m, according to Splash247. The package of four MRs and two LR2s takes the company's reported tanker programme at the yard to 14 ships, with deliveries spanning 2028 through 2030.
Logistics Sinokor's $6bn Tanker Bet Pays Off as Hormuz Crisis Fuels VLCC Buying Spree
Sinokor Maritime has acquired 73 secondhand tankers for $5.925bn in 2026, matching the combined spend of the next eight largest buyers. With MSC taking 50% joint control and Hormuz disruptions pushing VLCC earnings toward $510,000 a day, the buying spree has lifted asset prices to 2008 levels.
Trade India's Tanker Exports Surge Over Six-Fold to USD 1.36 Billion in Q1 FY27; UAE Leads
India's tanker exports grew more than six-fold to USD 1.36 billion in Q1 FY27 (April-June 2026-27), with the UAE emerging as the top destination. Export volumes rose from 10 to 23 vessels, and new markets including Egypt, South Africa, and Vietnam received first-time shipments.
Logistics Seacon Shipping refinances chemical tanker quartet in $103.4m sale-and-leaseback switch
Seacon Shipping is refinancing four 18,500 dwt chemical tankers in a $103.4m sale-and-leaseback switch that cuts financing margins by 50 to 65 basis points, according to Splash247. The Qingdao-based, Hong Kong-listed owner is moving three vessels to Guangzhou Yuexiu Financial Leasing and one to Tianjin Maxwealth Changyang No.4 Leasing, replacing AVIC-backed leases from 2024. The deal is expected to close by the end of August.
Logistics Wary of Red Sea Risks, Asian Refiners Push Saudi Aramco to Shift Crude Loadings
Asian refiners are reluctant to lift Saudi crude at Yanbu on the Red Sea and have asked Aramco to switch September cargoes to Egypt's Sidi Kerir. The shift follows Houthi attacks on tankers, and higher Africa-rerouting costs could push at least one refiner to skip its monthly allocation.
Logistics Dark Transits Keep Hormuz Oil Flowing as ADNOC Vessels Face New Attacks
Hormuz oil flows persist near 9 million barrels per day despite fresh attacks on ADNOC ships, as risk-tolerant tankers run dark and transfer cargo to mainstream operators off Oman. Satellite data shows ~150 vessels floating off Oman, up from ~40 in January, while ADNOC reports 19 vessels attacked. The Joint Maritime Information Center rates the threat as severe.
Commodities Asian refiners buy more US crude as Hormuz remains blocked, traders say
At least four Asian refiners bought US crude this week as the Strait of Hormuz remained effectively closed, according to traders cited by The Hindu BusinessLine. The purchases, spanning Mars and WTI grades for delivery later this year, came at premiums of $8–14 per barrel above Dubai, WTI, and Dated Brent benchmarks. Asia's July imports of US crude hit a record 2.35 million barrels per day, data from Kpler showed.
Logistics Pantheon Tankers Returns to MR Newbuilds With Two-Vessel China Order at COSCO Guangdong
Pantheon Tankers, led by Anna Angelicoussis, has returned to the MR newbuilding market with a two-vessel order at COSCO Guangdong Shipyard in China, according to Splash247. The 50,000 dwt newbuilds are the company's first purpose-built MR programme since a six-ship series from STX Offshore & Shipbuilding in 2019. The deal extends a fleet renewal drive increasingly centered on Chinese yards, spanning LR2/aframax, LNG dual-fuel suezmax, and VLCC newbuilds.
Logistics Minsheng steps up tanker push with $500m VLCC order at Jiangsu New Hantong
Minsheng Financial Leasing has ordered four 319,000 dwt VLCCs at Jiangsu New Hantong in a deal worth about $500m, tied to Clearlake Shipping. The Chinese lessor also expanded its Shell-backed MR tanker programme to 11 vessels and is building four LNG carriers for Shell Singapore.
Logistics Golar LNG orders fourth FLNG unit at CIMC Raffles as it exits LNG carrier shipping
Golar LNG has ordered a fourth MKII FLNG from CIMC Raffles for about $2.45bn, lifting its controlled liquefaction capacity 41% to more than 12 mtpa. The unit is due by end-2029, following a first MKII unit that starts a 20-year charter with Southern Energy off Argentina in 2028. Golar also sold its last LNG carrier in early 2025, exiting LNG shipping after 50 years.
Logistics UAE's Adnoc offers shuttle service for Iraqi oil exports through Strait of Hormuz
According to Bloomberg, Adnoc is offering to shuttle Iraqi oil exports through the Strait of Hormuz using dark-transit tactics. Iraq's SOMO has cut Basrah Medium prices by $25–$27 a barrel for Hormuz-bound volumes, while exports jumped to about 2 million bpd this month.
Logistics Pemont adds two LR2 newbuilds to Navigazione Montanari fleet renewal push
Navigazione Montanari, through Malta-based affiliate Pemont, has ordered two LR2 product tankers at China's Hengli Heavy Industry. The vessels, if built to Hengli's standard 114,000 dwt design, will become the largest ships in Pemont's fleet. Price, delivery dates and propulsion details have not been disclosed, according to Splash247.
Logistics Dynacom’s Hengli VLCC Program Reaches 20 as Procopiou Orders Four More
Greek owner Dynacom Tankers has expanded its VLCC order at Hengli Heavy Industry to 20 ships with a new four-vessel contract. Four units from the programme are already delivered, and the group is linked to additional VLCC tonnage at Hudong-Zhonghua, according to Splash247.
Logistics US Sends Seized Shadow Fleet Tankers to Scrap as GMS Wins Recycling Licences
The US has started sending seized shadow fleet tankers to scrap yards, permanently removing them from circulation. GMS won US Treasury licences to recycle four sanctioned ships, and estimates it could remove over 100 shadow tankers a year if a licensing regime develops.
Commodities Oil Prices Hold Near One-Week High as Strait of Hormuz Reopening Remains in Limbo
Oil prices held near a one-week high on Tuesday as US-Iran talks stalled over reopening the Strait of Hormuz. WTI crude stood at $82.22 a barrel and Brent at $87.80, after both benchmarks jumped more than 5% in the prior session. Iran demanded an end to sanctions and the US naval blockade before any reopening, according to Business Today.
Logistics Minsheng expands Shell-backed MR tanker programme to 11 newbuilds
Minsheng Financial Leasing has expanded its Shell-backed MR tanker programme at Guangzhou Shipyard International to 11 ships, adding five newbuildings. All 11 vessels will be chartered to Shell Tankers, with delivery estimated between 2029 and 2030. Prices for the latest five are estimated at $228m to $230m.
Logistics ADNOC L&S spends $1.3bn on six VLCCs and five VLGCs in tanker swoop
ADNOC Logistics & Services has committed $1.3bn to acquire 11 tankers — six VLCCs and five VLGCs — via secondhand and newbuild resale deals. Nine ships arrive in Q3, two VLGC newbuild resales in Q4, lifting its VLCC fleet to 14 and VLGC fleet to 12.
Commodities Crude oil gains as Iran plans to ban US, Israeli ships from Hormuz transit
Crude oil futures traded higher on Friday after reports that Iran intends to ban US and Israeli ships from the Strait of Hormuz, according to The Hindu BusinessLine. October Brent rose 1.72% to $83.91 and September WTI gained 1.49% to $78.44. ING strategists expect Brent to average $80 a barrel in Q3 despite growing US-Iran tensions.
Logistics Strait of Hormuz Reopening Hinges on Iran-Oman 60-Day Framework Deal
A U.S.-Iran standoff has cut Strait of Hormuz transits to eight vessels on Aug. 5, down from 100-plus daily before the conflict, while Iran and Oman finalize a proposed 60-day reopening framework, according to FreightWaves. The plan would route inbound vessels near Iran and outbound vessels on an Omani-side route with no transit fees, but a return to normal tanker, LNG and container flows requires weeks of incident-free transits, clear routing protocols and a stable U.S.-Iran agreement.
Logistics Excelerate picks up LNG carrier for first FSRU conversion, fleet charters expand
US-listed Excelerate Energy has acquired the 2010-built LNG carrier Methane Patricia Camila for $79m, earmarking the vessel for its first FSRU conversion, according to Splash247. The company also fixed the FSRU Express on a seven-year charter for a new Colombian LNG terminal and started the Excelerate Acadia on a nine-month charter at Jordan's Aqaba LNG terminal. Commercial deployment of the converted unit is expected in early 2028.
Logistics Tufton-backed Stainless Tankers to sell remaining six chemical tankers in fleet exit
Oslo-listed Stainless Tankers, backed by Tufton, plans to sell its six remaining chemical tankers within 18 months, exiting the fleet. The six Japanese-built IMO II vessels trade in the Womar pool. The company has sold three ships already and returned most proceeds to investors.
Logistics Bruton fixes second VLCC at $105,700 per day in 12-15 month charter
Tor Olav Trøim-backed Bruton has fixed its second VLCC newbuilding, the 300,000 dwt Mount Horizon, at a net rate of $105,700 per day for 12 to 15 months. The rate tops the $95,000 per day first nine months secured for its first VLCC, Mount Vision, giving the pair an average of about $101,000 per day, according to Splash247.
Logistics Centrofin linked to six-ship LR2 tanker order at China’s Titan Wind Energy
Splash247 reports that Centrofin has been linked to an order for six 114,000 dwt LR2 tankers at China’s Titan Wind Energy, a deal valued at up to $480m. The vessels are scheduled for delivery in batches during 2028 and 2029. This is Titan Wind’s second conventional tanker contract in less than two weeks.
Logistics Energy Secretary signals Jones Act waiver extension as pump prices remain elevated
U.S. Energy Secretary Chris Wright said another temporary Jones Act waiver extension is likely, as the existing exemption has helped lower fuel prices in California and the East Coast. The current waiver expires August 16, and the White House is expected to extend it, though analysts say the impact on pump prices is small. Maritime groups and some Republican lawmakers oppose further extensions.
Logistics Greece's Nautilus Makes Tanker Newbuild Debut at Wuhu Shipyard
Greek shipowner Nautilus Management has placed its first tanker newbuilding order — up to two MR1 product and chemical carriers at China's Wuhu Shipyard. The deal includes one firm 41,000 dwt vessel and an option for a second, with deliveries scheduled from Q3 2028 into early 2029.
Logistics Frontline Agrees to Sell Two VLCCs for $270m in Market-Clearing Deal
John Fredriksen's Frontline has agreed to sell two 2017-built VLCCs for $270m, or $135m per ship, in a deal analysts at SEB described as market-clearing. The sale is expected to generate a $110m gain and fund a $0.80 per share dividend, while revealing strong one-year charter rates of up to $110,000 per day.
Logistics Torm tied to up to eight MR newbuildings at China's Zhoushan Changhong International Shipyard
Shipbroking sources have linked Danish product tanker giant Torm to an order for up to eight 50,000 dwt MR newbuildings at Zhoushan Changhong International Shipyard, according to Splash247. Six firm vessels priced at about $46m each, plus two options, would be worth $276m firm and up to $368m if all options are exercised. The contract remains unconfirmed, with delivery pencilled in for 2029 and 2030.
Logistics Arcadia Shipmanagement expands newbuild programme with Hengli LR2 tanker trio
Greek tanker owner Arcadia Shipmanagement has ordered three aframax/LR2 newbuildings at China's Hengli Heavy Industries, lifting its tanker orderbook to nine vessels. The 114,000 dwt ships are scheduled for 2028 delivery, with pricing and technical specifications still undisclosed, according to Splash247. The order adds to a programme that includes aframax/LR2s from Dalian Shipbuilding and suezmaxes from HD Hyundai Samho.
Logistics Middle East Oil Tanker Threat Worst Since Iran War Began, Analysts Warn
Threat to oil tankers in the Middle East is at its worst since the Iran war began, as Strait of Hormuz transits fall to single digits and Houthi attacks target Saudi tankers in the Red Sea. Kpler data shows Hormuz traffic down from 100+ ships per day to 8-11, while Red Sea volume sits at 50% of pre-attack levels. Hapag-Lloyd warns restoring normal flows could take three to four months even if the strait reopens.
Logistics Navigator Gas secures $121.8m financing for two ammonia-fuelled carrier newbuilds
Navigator Gas has secured $121.8m in financing for two ammonia-fuelled gas carrier newbuilds developed with Amon Maritime, covering about 70% of the combined $168m price. The 51,530 cu m ships are under construction in China for 2028 delivery, with Yara Clean Ammonia taking five-year charters.
Logistics Tankers Face Fresh Hormuz Threats as Diplomacy Resumes, Houthis Deny Bab al-Mandab Tolls
Fresh threats and explosions in the Strait of Hormuz are disrupting tanker traffic, with two Liberia-flagged tankers reporting attacks and an LNG carrier left inoperable. The Houthis denied imposing tolls at Bab al-Mandab, while Gulf exporters accelerate alternative routes and war-risk cover remains uncertain.
Commodities US Crude Bound for Israel for First Time Since 2023, Times of India Reports
A Times of India report headlined 'US crude bound for Israel for first time since 2023' was published on 1 August 2026. The source text supplied no additional details about the cargo, pricing, or routing.
Logistics NYK invests in MidOcean Energy to expand LNG footprint via Mitsubishi joint venture
Nippon Yusen Kaisha (NYK) will invest in UK-based LNG company MidOcean Energy through Mitsubishi-created Diamond Gas MidOcean Limited, expected to become a jointly owned company. The deal includes a strategic partnership in LNG marine transportation, completing between August and September 2026.
Logistics Why 'Shipper of Choice' Is a Strategic Imperative in Chemical Logistics
Univar Solutions is doubling down on its 'shipper of choice' strategy to secure liquid bulk hazmat truck capacity. Vice President Rob McCray outlined the approach at the company's annual carrier kickoff, emphasizing long-term partnerships, disciplined route-guide strategies, and proactive fuel surcharge adjustments as market conditions shift toward carrier-favorable trends.
Logistics Transponders Off: Saudi Crude Tankers for India Exit Red Sea 'Dark' to Avoid Houthi Blockade
Two oil tankers carrying Saudi crude to Indian refiners—the Suezmax Amazon and Aframax Rodos—switched off their Automatic Identification System (AIS) transponders to safely exit the Red Sea via the Bab el-Mandeb Strait, after Houthi rebels announced a blockade on Saudi shipments. The vessels, managed by Dynacom Tankers, changed course southward on July 22 and are now heading to India, with Rodos due at Mangalore on August 1 and Amazon expected in Chennai in early August. This is the first known instance of 'dark' sailing for Saudi crude tankers to India since the blockade began.
Logistics Scorpio Tankers Takes Minority Stake in Eight VLCC Newbuilds and Orders Two LR2s
Scorpio Tankers has taken a minority stake in an eight-vessel VLCC newbuilding venture and signed a letter of intent for two LR2 product tankers at Jiangsu Hantong Ship Heavy Industry. The company also completed MR newbuilding agreements at Jiangsu Yangzi-Mitsui. The moves expand Scorpio's directly controlled newbuilding programme to 14 ships, with exposure to additional eight VLCCs through the joint venture. Net income surged to $387.5 million in the second quarter.
Logistics Vafias-backed Stealth Maritime Orders Two More MR Tankers from HD Hyundai, Extending $1.3bn South Korea Newbuilding Drive
Harry Vafias-backed Stealth Maritime has ordered two additional 50,000 dwt MR product tankers at HD Hyundai Heavy Industries for $53m each, extending a South Korean newbuilding drive valued at around $1.3bn. The company now has at least 15 tankers under construction at South Korean yards across MR, LR2, suezmax and VLCC segments, with deliveries stretching through 2030.
Logistics GTT Projects 550 New LNG Carriers Needed by 2035, Signaling Fleet Expansion
GTT expects around 550 LNG carriers to be ordered between 2026 and 2035, adding to the current record orderbook of 338 ships. The forecast is driven by 37m tonnes per annum of new liquefaction capacity reaching FID this year and a projected 5% annual LNG demand growth, primarily from Asia. Shipyard capacity is expanding to meet demand, with Korean and Chinese yards expected to exceed 100 annual slots by 2028.
Trade US Sanctions Iran’s Hormuz ‘Extortion Scheme’ and Eight Shadow Tankers
The US Treasury sanctioned Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority for running an IRGC-backed extortion scheme that forces commercial vessels to purchase maritime insurance before transiting the Strait of Hormuz. OFAC also designated eight tankers and their owning companies for transporting Iranian crude oil, bringing the total shadow fleet sanctions to over 100 ships since the start of the year.
Logistics Top Ships Redirects Dubai Refund into Three MR Tanker Newbuildings, Orderbook Reaches 10
Top Ships has redirected funds from a cancelled Dubai property deal into three MR tanker newbuildings, increasing its orderbook to ten vessels. The company will pay about $7.4m after deducting the $23.5m refund. The vessels have secured five-year charters with an unnamed oil major, with potential gross revenue of $140.6m.
Logistics BGN Launches US Gulf Bunkering Arm, Expanding into Direct Physical Supply of Marine Fuels
BGN has launched its first US retail bunkering operation, supplying conventional marine fuels from Houston across the Gulf Coast. The new business will serve the company's own LPG fleet and third-party customers, supported by a partnership with Centerline Logistics and two chartered barges. The move expands BGN beyond wholesale fuel trading into direct physical supply, while the company continues to grow its LPG and LNG shipping footprint.
Logistics Ditaş Orders Two Suezmax Tankers at DH Shipbuilding in $196M Deal
Turkish tanker owner Ditaş has been linked to an order for two 157,000 dwt suezmaxes at South Korea's DH Shipbuilding, valued at KRW271.3bn ($196m). This marks Ditaş's first suezmax order in about a decade and would double its suezmax fleet to four vessels. DH Shipbuilding's 2026 order intake reaches a record 17 ships.
Logistics UK Trade Body Urges Government to Approve Rosebank and Jackdaw Energy Projects
Offshore Energies UK (OEUK) has urged the UK government to approve the Rosebank and Jackdaw offshore energy projects, arguing delays threaten domestic supply and investor confidence. The combined £10.8bn projects could deliver 10% of UK gas and oil output, supporting thousands of jobs. OEUK warns that reliance on imports increases carbon footprint by up to four times.
Logistics Pan Ocean Confirms Two VLCC Newbuildings at Qingdao Beihai Shipyard
South Korean shipowner Pan Ocean has confirmed a pair of VLCC newbuildings at CSSC-controlled Qingdao Beihai Shipbuilding. The 319,000 dwt ammonia-ready vessels are scheduled for delivery in September 2030, priced around $122m each, according to market sources. This follows a single same-design VLCC ordered in March, bringing Pan Ocean's VLCC orderbook at the yard to three ships.
Logistics DH Shipbuilding Sets Annual Order Record with Fresh Suezmax Pair – New Deliveries Through 2029
South Korea's DH Shipbuilding has secured a KRW271.3bn ($196m) contract for two 157,000 dwt suezmax crude carriers from an unnamed European owner, pushing its 2025 order intake to a record 17 ships. The yard's orderbook now stands at 36 vessels, filling its construction schedule through the end of 2029.
Trade EU Grants Dynagas 12-Month Reprieve in Latest Russia Sanctions Package
The European Union has added 41 vessels to its shadow fleet blacklist while granting Greek shipowner Dynagas a temporary 12-month reprieve from restrictions on carrying Russian LNG to non-EU countries. The exemption limits volumes to 2025 levels and is part of the EU's 21st sanctions package.
Logistics Why America May Reflag Gulf Tankers Again: Strait of Hormuz Crisis Escalates
The US may reflag Gulf tankers again, escalating its escort operations in the Strait of Hormuz amid a direct conflict with Iran. According to Splash247, Iran's capabilities have grown since the 1987 Operation Earnest Will, with 17 damaged ships and 12 seafarers killed or missing since February 2026. The US already runs an improvised escort scheme, but formal reflagging would give insurers and shippers legal clarity to bring stranded tonnage back through the strait.
Logistics ABL Wins Papua New Guinea FSO Support Contract for Santos Subsidiary
ABL, a marine and energy consultancy, has won a contract from Santos subsidiary Oil Search Limited to provide marine warranty survey services for a new FSO facility in Papua New Guinea. The FSO, the country's first offshore floating facility, will be deployed at the Kumul Marine Terminal as part of the Kutubu Pipeline System. ABL's scope covers equipment supply and installation across India, Indonesia, the UK, and Papua New Guinea, with work expected to run through 2028.
Logistics Titan Wind Energy enters tanker building with order for two crude oil tankers
Titan Wind Energy, a Chinese renewable energy equipment manufacturer, has entered the tanker building sector with an order for two firm 113,800 dwt crude oil tankers, with options for two more. The deal is valued at CNY1.874 billion ($257.8 million) if all options are exercised, with deliveries scheduled for 2028-2029. The order marks the company's first move into mainstream tanker construction, adding to China's growing shipbuilding capacity.
Logistics Houthis Claim Missile and Drone Strikes on Two Saudi Tankers in Red Sea Escalation
Yemen's Houthi movement claimed to have struck two Saudi oil tankers in the Red Sea on July 23, 2026, the first attacks since declaring a naval blockade on Saudi Arabia. One tanker, the Encelia, was hit by an unknown projectile, causing a fire. The Houthis declared the Bab el-Mandeb strait closed to Saudi-flagged tankers, raising risks for shipping lanes and energy infrastructure.
Logistics Pelagic Credit Enters Chemical Tanker Market with $24.7M Pre-Delivery Financing for Two Newbuilds
Pelagic Credit has made its first investment in chemical tankers, committing $24.7m to pre-delivery financing for two 10,000 dwt newbuildings. The vessels have secured long-term time charters with an unnamed energy infrastructure company. The transaction is expected to close this month and represents a diversification of the Oslo-listed company's portfolio beyond multipurpose and offshore support vessels.
Logistics Tankers Carrying Saudi Crude for India, China Make U-Turn in Red Sea on Houthi Threats
Three tankers carrying Saudi crude oil bound for China and India reversed course in the Red Sea on Tuesday after Yemen's Houthi militia warned of a naval blockade on Saudi ports. The vessels are now heading toward the Suez Canal, lengthening voyages and raising insurance costs.
Logistics Two Tankers Carrying Saudi Crude Reverse Course After Houthi Maritime Threat
Two tankers carrying Saudi crude for China and India reversed course in the Red Sea, and a third diverted before a scheduled call at Yanbu, following a Houthi maritime embargo threat. This is the first publicly confirmed route change linked to the embargo, which could add weeks to voyage times if vessels are forced to reroute via Suez and around Africa.