Amerikanske sanktioner får tankrater til at stige voldsomt Grounds for optimism after new car sales spike in December This December, new car registrations in the EU rose by 5% year-on-year, Spain leading the way with an impressive 29% growth. Although Germany and Italy experienced modest declines, the overall performance stabilized annual EU car registrations, which grew by 0.8% in 2024 after a record-high growth in 2023. Steady growth expected for year ahead As 2025 begins, global car sales are expected

More renewable ammonia projects in the offing VLGC rates remain steady, holding in the $35,000–$40,000/day range, well above break-even levels. With the market covered throughout January, optimism for further rate increases in February prevails as demand remains strong. CIP to break ground on Mexico ammonia project in 2026 Copenhagen Infrastructure Partners (CIP) is advancing its renewable ammonia project in Mexico, which will produce 900,000 tons of renewable ammonia per year, using wind and solar energy. The project, set to begin

Solid week for VLGC market Optimism over further rates increases throughout January The latest week has been a good, if quiet period for the VLGC market with current average spot market rates at more than $40.000 /d. The Western market has been bolstered bycharterers and a thinning tonnage list, resulting in increased earnings. Overall, the market seems covered throughout January, and hopes for further increases prevail. Source: Clarksons Research Fleet

OFAC sanctions send tanker demand soaring Nearly 10% of global tanker fleet blacklisted – remaining market set to benefit The Office of Foreign Assets Control (OFAC) has added further vessels transporting Iranian and Russian oil above the price cap to its sanctions list, raising the total to 400 — nearly 10% of the global tanker fleet. With some Indian and Chinese ports refusing these ships, a substantial share of capacity has disappeared, causing rates to spike sharply. “Tanker rates have

U.S. sanctions cause tanker rates to spike 2025 kicks off with forceful momentum Tanker rates have surged this week, largely due to the immediate impact of OFAC (The Office of Foreign Assets Control) sanctions on the physical tanker trade. The United Statesrecently sanctioned more than 180 vessels — mainly tankers — and some Chinese and Indian ports have begun banning these ships, reducing available tonnage and driving rates sharply upwards.Read more: https://maritimefinance.eu/ofac-sanctions-send-tanker-demand-soaring. While the entire tanker market has improved, crude

Massive ammonia project to launch in Argentina European market targeted – ammonia carrier segment set to benefit RP Global and GIZ have partnered to advance a green hydrogen and ammonia project in Argentina. This initiative aims to develop Argentina’s renewable energy potential to produce green ammonia for export to Europe, creating demand for VLACs. The project plans to install 3 GW of electrolysers powered by a 4.2 GW wind farm, producing 1.7 million tons of green ammonia annually. This production

IEA: Oil demand to rise this year Low stocks and supply growth set to boost tanker demand In its latest report, the IEA forecasts global oil demand to rise by around 1 million barrels per day (mbpd) in both 2024 and 2025, reaching nearly 103 mbpd this year. The medium-term outlook for oil demand is generally positive – however, factors such as slower economic growth in China, post-pandemic demand normalization, and the ongoing shift to clean energy may pose risks to

Optimism over Iran sanctions speculation US clampdown could fuel tanker rates boost The first week of 2025 brought limited activity to the tanker market, with only minor fluctuations in charter rates. However, growing speculation about stricter US sanctions on Iran is drawing attention. Iran’s oil exports — nearly all heading for China — have recently reached multi-year highs. If new sanctions come into effect, Chinese refiners may be compelled to turn to other Middle Eastern suppliers, shifting cargoes to compliant

Tanker outlook positive for 2025 Rising crude demand set to boost the year ahead By early December, average crude tanker earnings hovered around $36,000/day. Suezmax and Aframax have showed the most resilient segments. Seasonal improvements that typically bolster the fourth quarter have yet to fully materialize. However, shipbrokering house Fearnleys forecasts a potential rate rally in Q1, driven by seasonal shifts – offering a more optimistic outlook for the months ahead. OPEC+ decided to extend its production cuts until March

IMO safety guidelines drawn to enable use of zero-emission – if toxic – fuel Denmark, Copenhagen – 22 December 2024.   The IMO’s Maritime Safety Committee has adopted new guidelines and lifted restrictions, allowing ammonia to be used as a fuel for ships, supporting the industry’s shift toward decarbonization in line with the IMO’s 2050 net-zero emissions target. Ammonia, a promising, carbon-free fuel, can achieve zero emissions if produced from green hydrogen or biological waste.The new guidelines designate certain areas of