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New gas tanker form paves the way for revision of ASBATANKVOY

21 September 2020

BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) have approved a voyage charter party, ASBAGASVOY, for publication to serve the growing gas tanker industry. Work will now begin to revise ASBATANKVOY, one of the most used tanker charter parties in the world.

Tanker market report dated 2 October 2020

05 October 2020

Since the beginning of last year less than 60 tankers over 25,000 dwt have been scrapped, roughly half of what was scrapped in 2018. In particular, just 4 VLCCs have been demolished over the period, compared to 38 in 2018. Weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 26 June 2020

29 June 2020

In early June the US Treasury department added several tankers to its Venezuela sanctions lists for allegedly lifting oil from the country between mid-February and late April this year. It does appear, however, that sanctions were applied only to the vessels in question, with limited broader legal exposure. Weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 20 December 2019

13 January 2020

This year started on a positive note for tankers. Healthy earnings were seen in early 2019 supported by strong demand at the time, weather factors and flat fleet growth, following robust demolition activity back in 2018. The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 5 July 2019

08 July 2019

The recent explosion at Philadelphia Energy Solutions’ (PES) 335,000 b/d Philly refinery has come at an opportune time for product tankers trading in the Atlantic, whilst the decision to permanently shut the facility will have longer term implications for product supplies into the US Atlantic Coast. The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 10 August 2018

13 August 2018

2018 has been a horrible year for product tanker owners, with sale and leasebacks being necessary for many to provide a financial bridge to better times. Many are pinning their hopes on 2020; which, as we have written in the past is expected to be supportive for product tankers. However, many are also hoping that new refinery developments will offer a further boost to tonne mile demand, similar to what was seen from 2014-2016. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 27 April 2018

30 April 2018

The acceleration in VLCC demolition activity this year has frequently been in the headlines late. As more tankers head to the beaches, this gives shipowners some cause for optimism in the future, particularly taking into account the current depressing market. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.