Geopolitics is the dominating variable in the tanker market these days. With the OPEC+ negotiations falling apart and Saudi Arabia initiating an oil price war, the crude oil tanker spot freight rates, and time charter (TC) rates have soared

Wan Hai Lines Profit Increases Significantly In 2019, Wan Hai Lines achieved revenue of about NT $73 billion (about US $2.4 billion) and NT $66.8 billion (about US $2.2 billion) last year, basically the same as last year. The net profit att

1.Chinese shipyard Hudong-Zhonghua has launched a floating storage and a regasification unit (FSRU) for Greek shipping company Dynagas. 2.Chinas PMI rose to 52 in March, indicating that while manufacturing grew compared to February, it rema

In the afternoon of March 31, China Merchants Port and Ping An OneConnect held the signing ceremony of Guangdong-Hong Kong-Macao Greater Bay Area Port Logistics and Trade Facilitation Blockchain Platform project. According to the agreement,

The world is a very different place to when the last edition of Drewrys Container Forecaster report was published in December. The only certainty is supply and demand volatility. The outbreak of coronavirus (COVID-19) has laid bare the frag

China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday. China started processing in March applicatio

The second edition of the Future Maritime Leaders essay competition encourages students and young professionals to submit essays about how the maritime sector can contribute to realizing the Sustainable Development Goals in the coming decad

1.LGM Engineering, formerly known as Gloryholder LGM, has secured a deal to supply an LNG fuel gas supply system to Dalian Shipbuilding Industry (DSIC). 2.CSSC (Hong Kong) Shipping Company released it full year financial results for 2019, b

Crude oil benchmarks fell sharply on Monday, with the Brent Crude hitting its lowest point since November 2002 as the novel coronavirus pandemic intensified and the Saudi Arabia-Russia oil price war showed no signs of abating. Saudi Arabia

CSSC (Hong Kong) Shipping Company, a Hong Kong-based ship leasing firm, released it full year financial results for 2019, boasting a 26.3% increase in net profit to HK$892.24m (US$115.87m) compared to last years HK$706.55m. Full year revenu

Edward Liu, legal director with Hill Dickinson Hong Kong, has been appointed as a member of the regions Advisory Committee on Promotion of Arbitration. The appointment was made on 25 March by Teresa Cheng, secretary for justice at the Depar

Call between Trump and Putin sets up efforts to stabilize global energy market Russian President Vladimir Putin and his US counterpart Donald Trump reached an agreement in a phone call on Monday to have their top energy officials discuss wa

1.On March 30, COSCO SHIPPING Holdings announced its 2019 annual results withrevenue of the company reached RMB151.06 billion. 2.A LNG tanker which loaded a cargo from the United States is currently heading to China, the first shipment sinc

China Gas Holdings and CG Fortune Marine have entered into a time charter contract for two new 84000 cubic meters VLGCs. CG Fortune Marine is a joint venture between China Gas and Hong Kong Fortune oil. The two new ships, ChinaGas Legend an

Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships to transport crude or store a fast-growing global glut of oil, industry sources said. Freight rates for very