Raw oil tanker owners on the brink of collapse

According to the analyst firm Fearnley, owners of raw oil tankers have been pressed so far down in their rental contracts that market participants are asking themselves how long it will be before certain companies have to throw in the towel.

BY OLE ANDERSEN

Desperate owners of raw oil tankers have been lowered so far by the charters that the rates continue at a level far below opex from the Middle East, writes the analyst firm Fearnley.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

VLCC rates prevented from going up
For subscribers
Fearnley: Frontline will be strong in 2013
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Lidl's shipping company, Tailwind Shipping Lines, has a total of eight ships with a combined capacity of approximately 108,000 teu. | Foto: Horst Galuschka/AP/Ritzau Scanpix

Container

Lidl's shipping company makes changes to get more customers in store

Tailwind Shipping Lines was launched during the pandemic, when the German discount chain was struggling to get goods on the shelves.

For subscribers

The coronavirus pandemic gave shipping a bad image as a workplace because thousands of seafarers were trapped on their ships for many months. Here, a seafarer is vaccinated in Bremen, Germany. | Foto: Mohssen Assanimoghaddam/AP/Ritzau Scanpix

Carriers

Professionals: Shipping has a bad image and struggles to attract women

For subscribers

Ports

Less freight risks mass layoffs at major UK port

For subscribers

ShippingWatch.com

Star Bulk buys back own shares from Oaktree Capital

For subscribers

Tanker

Russia's new ban could send more countries on a frantic hunt for diesel

For subscribers

Ports

Shanghai to set up first pan-Pacific green corridor with Los Angeles

For subscribers

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"
There is too much emphasis on expensive ships and new fuel when it comes to the green transition, says Norden’s Jan Rindbo.
For subscribers
A simple reason could explain low dry bulk rates despite good demand
Several dry bulk carriers remain positive to the dry bulk market despite lower rates. They point to one reason as to why these haven’t picked up yet.
For subscribers
Dubai challenges Singapore as shipping's favorite city
Singapore is still the favorite city of maritime executives, but high costs of living and skyrocketing rental prices make an increasing number of people look to Dubai, according to survey.
For subscribers
Opinion: Europe's key ports have become better connected after Covid
The major container ports are woven even more closely into the web of world trade. This is good news for customers, writes Lars Jensen.
Cosco to build production chain for green methanol
The Chinese shipping giant will establish a chain of production facilities for green methanol in partnership with a state-owned energy company and the world’s largest container port in Shanghai.
For subscribers
Russia’s diesel ban threatens to roil global markets – if it lasts
Russia’s decision to ban exports of diesel — and gasoline — risks disrupting fuel supplies ahead of winter, but how deep the impact will be depends on how long it lasts.
For subscribers

Lidl's shipping company makes changes to get more customers in store

Tailwind Shipping Lines was launched during the pandemic, when the German discount chain was struggling to get goods on the shelves.

For subscribers

Foto: Abdel Hadi Ramahi/reuters/ritzau Scanpix

Logistics

Dubai challenges Singapore as shipping's favorite city

Singapore is still the favorite city of maritime executives, but high costs of living and skyrocketing rental prices make an increasing number of people look to Dubai, according to survey.

For subscribers

Regulation

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

There is too much emphasis on expensive ships and new fuel when it comes to the green transition, says Norden’s Jan Rindbo.

For subscribers

Ports

Shanghai to set up first pan-Pacific green corridor with Los Angeles

The corridor is set up with some of the biggest shipping lines of the world like Maersk and CMA CGM.

For subscribers

Peder Simonsen CFO in Golden Ocean points to congestion as a main reason as to why freight rates haven't increased yet when demand is good. | Foto: Pareto Securities

Bulk

A simple reason could explain low dry bulk rates despite good demand

Several dry bulk carriers remain positive to the dry bulk market despite lower rates. They point to one reason as to why these haven’t picked up yet.

For subscribers

Container

Hapag-Lloyd rolls out Starlink internet to entire fleet

A test of Elon Musk’s satellite internet has ”revolutionized” communication for employees at sea and allows for remote maintenance of ships, according to the shipping company.

For subscribers

Jobs

See all jobs

Raw oil tanker owners on the brink of collapse

Read the whole article

With your free trial you get:

Get full access for you and your coworkers

Share article

Related articles:

VLCC rates prevented from going up

Fearnley: Frontline will be strong in 2013

Sign up for our newsletter

Front page now

Lidl's shipping company makes changes to get more customers in store

Professionals: Shipping has a bad image and struggles to attract women

Less freight risks mass layoffs at major UK port

Star Bulk buys back own shares from Oaktree Capital

Russia's new ban could send more countries on a frantic hunt for diesel

Shanghai to set up first pan-Pacific green corridor with Los Angeles

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

A simple reason could explain low dry bulk rates despite good demand

Dubai challenges Singapore as shipping's favorite city

Opinion: Europe's key ports have become better connected after Covid

Cosco to build production chain for green methanol

Russia’s diesel ban threatens to roil global markets – if it lasts

Further reading

Lidl's shipping company makes changes to get more customers in store

Dubai challenges Singapore as shipping's favorite city

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

Shanghai to set up first pan-Pacific green corridor with Los Angeles

A simple reason could explain low dry bulk rates despite good demand

Hapag-Lloyd rolls out Starlink internet to entire fleet

Jobs