Fourth South Korean Tanker Transits Red Sea to Ship Crude Oil Home

On May 8, a South Korean oil tanker successfully transited the Red Sea and is currently on its return voyage to South Korea.

VLCC Idle Rate Climbs to 55%! Tanker Owners Grapple with Scarcity of Physical Cargoes

Recent data reveals a sharp increase in the number of idle crude oil tankers globally.

US Intercepts Chinese Oil Tanker? China Responds

On April 20, Foreign Ministry Spokesperson Guo Jiakun presided over a regular press briefing.

Hengli Heavy Industry Secures 4 More VLCC Newbuilding Orders, Strengthening High-End Vessel Portfolio

Recently, Dynacom signed a formal agreement with Hengli Heavy Industry for the construction of four additional 300,000-ton VLCCs.

All 18 crew safe after fire on Japanese-owned tanker off Singapore

All 18 crew of Panama-flagged tanker Hoyu are all safe after a fire broke on the vessel in Singapore waters today.

Tanker rates drop off but remain positive for owners

​Freight rates for the tanker shipping market have dropped off relatively quickly last week following the prior week’s dramatic surge, amidst a market that has seen significant adjustments for a better balance in the supply-demand equation.

China Dominates in Oil Tanker Market as Refiners Prepare for IMO

China’s demand for crude oil shows no signs of abating.