According to an April 15 report from Bloomberg, Frontline Ltd. said that a plunge in supertanker rates to their lowest in at least 11 years will likely spur owners to scrap ships and cancel orders for new ones. Supertankers are making $4,335 a day after fuel costs for delivering Middle East crude to Asia and the U.S., according to data from the London-based Baltic Exchange.
(Source: Bloomberg)
ADNOC Logistics & Services (ADNOC L&S) has ordered three 90,000-cubic-meter Very Large Gas Carriers (VLGCs) for a total investment…
Saudi Arabia's first defence-focused venture capital fund, MASNA Ventures, is seeking to plough more money into local manufacturing…
TKMS and EDGE Group have signed a memorandum of understanding to explore jointly developing underwater surveillance and protection…
Ongoing fleet renewal by niche player Cool Carriers indicates continuing competitiveness at scale of the specialized, pallet…
Discover the operational costs hiding between your biggest transportation expenses.
Military Sealift Command (MSC) is looking to hire and onboard record numbers of licensed engineers—and its sign-on bonuses reflect that.
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