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COSCO Shipping Energy Transportation has unveiled a 24-vessel VLCC expansion combining firm newbuilding contracts with long-term bareboat charter arrangements at Chinese shipyards.
Piraeus-based Venergy Maritime has exercised options to double its debut VLCC order at China’s Hengli Heavy Industries to four crude carriers.
Iran’s Persian Gulf Strait Authority says it will pursue legal action against every vessel owned by South Korean shipping giant Sinokor starting November 1 over alleged Hormuz transit violations.
Informal WhatsApp messages from South Korea’s Sinokor Group to shipbrokers have become a dominant force setting global oil tanker freight prices as the Iran war disrupts traditional benchmarks.
Saudi Arabia’s national shipping carrier Bahri has signed a contract with shipyard International Maritime Industries to build three 320,000-dwt VLCCs for delivery between 2029 and 2030.
International Seaways has agreed to acquire Oslo-listed VLCC owner Bruton Limited for approximately $370 million, adding four very large crude carriers to its fleet.
Greek shipowners, led by George Procopiou’s Dynacom Tankers, have ordered 12 new tankers worth hundreds of millions of dollars at China’s Hengli Heavy Industries.
Attacks on commercial shipping in the Gulf widened beyond the Strait of Hormuz over the weekend, with a fully laden VLCC struck off the UAE and a tanker hit near Qatar as Iran extends its campaign against vessels it deems unauthorized.
Greek shipping magnate George Procopiou has placed close to $3 billion in newbuilding orders across VLCCs, ammonia carriers and LNG carriers in just over a week, led by an eight-ship, near-$1 billion package at China’s Hengli Heavy Industry.
Huajin Aramco Petrochemical has brought online a new 300,000 dwt crude berth at Panjin Port after the first laden VLCC discharged cargo, completing the marine feedstock supply chain for one of China’s largest new refining and petrochemical complexes.
