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VLCC Tankers Fall Amid Reduced Bunker Costs


Rates for 270,000mt Middle East Gulf to China slipped to WS 43.5, down two points. However, with a $50/mt fall in bunker prices over the week, earnings have remained flat. The assessment for 280,000mt Middle East Gulf to US

About 40% Of Resources Planned To Be Sanctioned In 2019 Have Been Given The Green Light


Sanctioning volumes year-to-date have reached 40% of resources planned to be sanctioned in 2019, driven by the $18 billion worth of awards surrounding the Berri and Marjan expansion projects in Saudi Arabia. Elsewhere, large projects such as the Area 1

Project Sanctioning In 2019 Could Soon Eclipse 2014


Overall offshore project sanctioning in 2019 has surpassed the $50 billion mark, driven by Saudi Aramco's recently announced $18 billion worth of project commitments associated with the Marjan and Berri expansion projects. This is yet another signal that the offshore

Oil market outlook for 2020


Global economic growth is expected to remain at 3.2% in 2020 (Graph 1). While the US and China are forecast to slow slightly, some severely hit economies – mainly in Latin America and Turkey – are forecast to recover, keeping

Summer natural gas prices on track to be the lowest in more than 20 years


In its July 2019 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts Henry Hub natural gas spot prices for June, July, and August this year will average $2.37 per million British thermal units (MMBtu). If realized, this

3 ways produced water could hamper Permian production


The entire Permian production cost curve is shifting as produced water volumes expand, posing a risk to production growth in the most prolific US shale play.

A lack of adequate investment and planning around water management could be detrimental to Permian

Inaugural Industry-Wide Survey and Study to Explore Diversity and Inclusion Across Shipping Launched


The first ever survey and study to explore levels of diversity and inclusion across the shipping industry has been announced by the newly-formed Diversity Study Group.

The Diversity Study Group (DSG) is the first organisation dedicated to championing diversity and inclusion

Iran drives unplanned OPEC crude oil production outage to highest levels since late 2015


Unplanned crude oil production outages for the Organization of the Petroleum Exporting Countries (OPEC) averaged 2.5 million barrels per day (b/d) in the first half of 2019, the highest six-month average since the end of 2015. EIA estimates that in

IMO2020 to result in 50% hike in bunker costs on Far East-Europe trade lane


Bunker costs per TEU are set to increase by over 50% from January 2020 as the IMO2020 rules force global container lines to switch to more expensive low sulphur fuels. Calculations by MDS Transmodal using its online BAF Calculator suggest

Environmental Concerns Drive Demand for Next-gen Marine Coatings


Frost & Sullivan’s latest analysis, Global Marine Coatings Market, Forecast to 2025, reveals that the increased development and adoption of more environmentally sustainable and durable antifouling coatings using higher priced chemistries such as silicones and fluorosilicones will propel revenues and

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