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COVID-19 outbreak leads to a surge in tanker rates, says GlobalData

01/04/2020

The rates for chartering very large crude carriers (VLCCs) has surged exponentially due to a spike in demand for long-term offshore storage of crude oil following the Organization of Petroleum Exporting Countries' (OPEC's) disagreement with Russia over the impact of

Vitol Group establishes foothold in Singapore bunker operations: Acquires Sinanju Tankers Holdings’ bunkering fleet and

01/04/2020

Vitol Marine Fuels Pte Ltd, a subsidiary of the Vitol Group, has acquired 100% of Singapore-based bunkering specialist Sinanju Tankers Holdings (“Sinanju”). The Singapore Bunkering license holding entity has been renamed Vitol Bunkers (S) Pte Ltd and from 1st April