Europe still sources roughly 50% of its oil import from Russia, but this will shift dramatically toward Feb. 1, 2023, when new EU sanctions enter force. This is one of three factors that will benefit the product tanker market, says Torm CEO Jakob Meldgaard.

Harald Fotland, Odfjell’s CEO, sees the upturn in the chemical tanker market lasting even longer than he initially expected. Three factors drive this, but a three-headed troll could potentially spoil the good markets, he tells ShippingWatch.

MPC Container Ships reports continued advancement in Q2, raising guidance for its operating result to almost half a billion dollars. High rates will continue for several quarters yet, the company expects.

Major northern European ports stand to be affected by delays due to the Rhine drying up and a planned strike at the UK Port of Felixstowe, Maersk warns.

Swedish carrier Concordia Maritime has turned a years-long downswing around and is now making money. In an interview with ShippingWatch CEO Erik Lewenhaupt expresses optimism about the future: ”We have turned a corner. That is a relief.”