Tag: Oil Tankers
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Future of the Oil Tanker Industry: Trends and Forecasts
The demand for oil tankers may decrease as early as 2028 due to a gradual decline in demand for fossil fuels such as gasoline and diesel. Consequently, the global oil tanker construction industry will inevitably experience rebalancing, fleet adjustments, and order reductions. Currently, the tanker market is on the rise. Since 2023, it has been…
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Libya Blocks Access to All Oil Fields
π±πΎ Security guards protesting at Libya’s oil fields have declared the blocking of access to all wells and ports used for oil exportation. As reported by the Al-Wasat portal, this decision comes after the expiration of a 10-day deadline set by the oilfield guards for the Abdel Hamid Dbeiba-led National Unity Government (NUG) to meet…
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UN completes removal of oil from decaying FSO tanker
The UN has completed the transfer of oil from the FSO Safer supertanker offshore Yemenβs Red Sea coast, preventing the immediate threat of a massive spill. The FSO Safer, a floating storage and offloading unit, is located 60 kilometres (37 miles) north of the port of Hudaydah. It has been used for storing and exporting…
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Crisis Looms: Tanker Shortage in 2024
In 2024, the global tanker industry faces a dire situation with only two new supertankers slated for construction, marking a staggering 90% decrease from the annual average observed since the early 2000s. The repercussions of this scarcity are already being felt as owners increasingly avoid traversing the southern Red Sea, leading to a palpable shortage…
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