EMF attended Everrlence launch; maritime industry discusses decarbonization Everllence, formerly MAN Energy Solutions, the company behind the engines in EMF’s three VLAC’s, announced the launch of its new ammonia dual-fuel engine in Copenhagen last week, marking a major step toward zero carbon propulsion in the maritime sector. EMF attended the event, which brought together industry professionals for discussions on decarbonization, with attendees participating in technical sessions on ammonia as a marine fuel, the business case for ammonia, and the development

Refinery attacks, port disruptions and LNG shifts reinforce strong tanker conditions Ukraine has claimed a strike on Rosneft’s Ryazan refinery, one of Russia’s largest processing sites, with explosions and fire reported at the facility. This follows the recent attack on Novorossiysk, which briefly halted crude loadings at Russia’s main Black Sea export hub before operations resumed. Black Sea corridor under pressureRisk levels in the Black Sea continue to rise as long-range strikes by both sides target energy and port infrastructure.

Trading decreases due to Bahri Week Tanker: Average earnings close to $100k per day markVL earnings reached a five-year high last week at an average of $128,000 per day, supporting another strong week across the tanker market. The strength in the VL segment lifted overall tanker earnings to an average of $97,000 per day. Suezmax performance continued to benefit from the surge in VL activity, supported by firm conditions in the Mediterranean and Black Sea to Mediterranean routes. LPG/VLGC: Market

Europe’s largest port moves closer to commercial ammonia bunkering Rotterdam, Europe’s largest port, is taking a leading role in the maritime energy transition, moving closer to commercial ammonia bunkering following a successful pilot earlier this year. The development marks a major step toward establishing a full-scale clean fuel supply chain for global shipping. Large-scale ammonia adoption is advancingWith extensive infrastructure for ammonia, hydrogen, and methanol under development, Rotterdam is positioning itself as the continent’s central hub for low-carbon marine fuels.

Firm demand, realigned trade flows, and record freight rates continue to define the tanker market in 2025 US inventories and output revisionsIn the United States, crude inventories rose by 5.2 million barrels this week, notably above expectations, while gasoline stocks declined. Newly revised data confirmed that US oil output in August was higher than previously estimated by the US Energy Information Administration, pointing to stronger supply-side dynamics and reinforcing the country’s position as a crude exporter. The increase in available

Suezmax gains and Western VLGC momentum support a positive outlook into year-end Tankers: Suezmax gains lead another strong week for tankersTanker earnings remain strong as limited fleet growth and longer trade routes sustain positive momentum across crude segments. Suezmax earnings rose 8% week-on-week to $87,300/day. The LR2 segment has strengthened, supported by sustained switching from clean to dirty trades in response to higher crude earnings. OPEC+ has once again agreed to increase oil output in December by 0.14m bpd in

One week following the world leaders’ meeting, what has been concluded? What was agreed upon Port fee suspension: Both sides agreed to suspend new port fees and shipping tariffs for one year, easing cost pressures on the global maritime and logistics sectors. China agreed to pause for one year its export restrictions on rare-earth minerals, a major relief for global tech and automotive supply chains. The United States has cut its so-called “fentanyl-related” tariff on Chinese goods from 20 %

An overview of recent developments and their impacts Since Russia’s invasion of Ukraine in 2022, international sanctions have steadily reshaped global oil trade and tanker activity. The EU’s oil embargo and G7 price-cap framework redirected Russian crude flows away from Europe toward Asia, creating longer-haul voyages and structural changes in vessel utilization that continue to define the market today. Recent sanctions on Russian oil 18 July 2025 – EU 18th sanctions packageThe EU expanded its restrictions by blacklisting more than

OPEC+ hikes production in December, LPG segment gains strength following US-China trade truce Tankers: Highest earning week for the crude tanker market in the past 5 yearsThe tanker market experienced its strongest week since April 2020, following the global shutdown caused by the Covid-19 pandemic. VLCCs had the strongest week within the segment, with earnings surging by 42% week-on-week to $117,500/day. Suezmaxes and Aframaxes also experienced growth this past week, with the tanker segment undergoing 26% growth week-on-week. OPEC+ agreed

US targets Russian oil majors, prompting shifts in trade flows Roughly one-third of the global Aframax fleet has now been blacklisted as the shadow-sanctioned fleet continues to expand, according to new data from Clarksons. Western nations have added nearly 500 oil tankers to their sanctioned vessel lists so far this year, bringing the total to 908 tankers, equivalent to around 16% of the global fleet. Aframaxes account for the highest proportion of sanctioned vessels at 33% of fleet capacity, reflecting