Tag: VLCC

Iraq Suspends Crude Loading at All Export Terminals, Impacting ~4 Million Barrels per Day – Incident at Basra Terminals in the Persian Gulf, Not a Strait of Hormuz Closure

Clark Savage45

Iraq has suspended crude oil loading operations at all its southern export terminals following a drone incident at the Basra (Basrah) terminal complex in the Persian Gulf. The move affects a significant portion of the country’s exports, which normally average around 3.3–3.6 million barrels per day (bpd) via these facilities (with some market commentary citing […]

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China Merchants Stay the Course on VLCCs – What does this mean for the energy markets?

Clark Savage354

China Merchants Energy Shipping (CMES) is doubling down on Very Large Crude Carriers (VLCCs), signaling strong long-term confidence in global crude oil trade despite short-term market volatility. In a recent Lloyd’s List report, the Chinese shipping giant dismissed a nearly 40% drop in VLCC spot rates since late June 2026 as a temporary distortion, raising […]

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South Korean Tanker Universal Winner Transits Strait of Hormuz Amid Cautious Signs of Easing Tensions

Clark Savage425

A South Korean-flagged Very Large Crude Carrier (VLCC) is making headlines today as it navigates the strategically vital Strait of Hormuz, marking the first such transit by a vessel from the East Asian nation since the onset of the 2026 Iran-related conflict and maritime disruptions. The Universal Winner (IMO 9837602, MMSI 440274000), operated by Seoul-based […]

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The market impact of an ageing VLCC fleet

Clark Savage204

Mette Frederiksen, head of research and insight at Tankers International, on the future of the VLCC trades. The VLCC market is changing significantly. While the global fleet continues to grow with the introduction of newbuilds, the ageing vessels in operation are losing efficiency, therefore slowing the actual growth of tonnage supply. Adding to this shift […]

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