News

Global VLCC fleet capacity is projected to expand more aggressively through 2028. Taken together, scheduled deliveries from all major shipbuilding countries imply an average annual VLCC fleet growth rate of approximately 6% by 2028, assuming the current orderbook is delivered as planned. Within this evolving environment, Sinokor Merchant Marine (Sinokor) has expanded its VLCC commercial …

The dry bulk market has been trending higher so far in 2026, as it is being propelled by strong tailwinds. In its latest weekly report, shipbroker Xclusiv said that “the dry bulk market has entered 2026 on a markedly firmer footing, with the strong finish of 2025 and the solid opening weeks of the new …

China’s wheat import program has historically been concentrated mostly on Canada and Australia, which together account for roughly 70% of total volumes. Signal Ocean Platform flow data mirrors this concentration on the freight side. Approximately 70% of China-bound wheat shipments move on Panamax vessels, with around 20% carried on Supramax vessels. Argentina is entering the …

The BIMCO Emissions Trading Scheme Clause for Memoranda of Agreement 2025 was formally adopted in December 2025, reflecting BIMCO’s commitment to providing clear and practical contractual tools that address the growing complexity of environmental regulation in the sale and purchase of vessels. Developed by a BIMCO subcommittee comprising shipowners, brokers, legal specialists, and P&I experts, …

The ship recycling markets have been facing supply constraints, while political uncertainties are also evident. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “the Indian market came off towards the end of the week, with sentiment pressured by a firmer U.S. Dollar and a weaker Indian Rupee. …

The International Maritime Organization’s Sub-Committee on Pollution Prevention and Response held its 13th session at IMO Headquarters in London from 9 to 13 February 2026. The meeting was chaired by Dr. Anita Mäkinen of Finland. Outcomes are summarised below. 2026 Strategy and Action Plan on marine plastic litter agreed The Sub-Committee agreed to the draft …

America’s Maritime Action Plan outlines a coordinated effort to rebuild domestic shipbuilding capacity, expand the U.S.-flag fleet, reform procurement, strengthen workforce pipelines, and modernize maritime regulation. Key Takeaways • Commercial shipbuilding is formally tied to national and economic security. • U.S.-built and U.S.-flagged vessels are positioned as strategic priorities. • Multiyear procurement and financing reforms …

Tanker newbuildings have been the main target among ship owners over the past couple of weeks. In its latest weekly report, shipbroker Banchero Costa noted that “it was a significant week for crude oil tanker contracting, with multiple large contracts awarded to Chinese shipyards. Greece’s Capital Maritime placed an order of 11 x 306,000 dwt …

The LR story over the next few quarters is less about a single demand catalyst and more about how much supply quietly comes back into play. This piece unpacks the levers behind that shift: a heavy newbuild delivery schedule, the unwind of recent clean-to-dirty switching, and the potential for faster turnaround if East West routing …

The 13th session of the IMO’s Sub-Committee on Pollution Prevention and Response (PPR 13) was held in London from 9 to 13 February 2026. PPR commenced discussions on a legally binding framework on biofouling. PPR also agreed on amendments to requirements regarding NOx emissions certification for engines running on noncarbon fuels, P/V valves on new …