Energy News Beat Nasdaq-listed Greek tanker owner and operator Performance Shipping has agreed to the refinancing of an existing outstanding loan of $29.75m with compatriot Alpha Bank. Proceeds from the facility will be used to fully refinance the existing debt maintained with Alpha Bank, secured by the 2013-built aframax P. Long Beach and the 2010-built […]
Energy News Beat Daily Standup Top Stories Trump Truths a Strategic Shift: China Can Buy Iranian Oil June 24, 2025 Clark Savage In a surprising pivot, President Donald Trump announced on Truth Social that “China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the U.S., also.” This statement, made […]
Energy News Beat GasMiddle EastTankers Johnnie / MarineTraffic Johnnie / MarineTraffic Ship operators report extreme GPS jamming continues in and around the Gulf, but the tentative truce reached between the US, Israel and Iran is holding, something that has been reflected in declining oil prices and tanker spot rates and stock prices over the past […]
Energy News Beat Terna Energy The Brazilian Institute of Environment and Renewable Natural Resources (IBAMA) has granted the first preliminary license for an offshore wind energy project in Brazil. The license was awarded to the Senai Institute for Innovation in Renewable Energy for the offshore wind turbine test site set to be implemented on the […]
Energy News Beat The maritime industry is undergoing a rapid technological transformation, with AI emerging as a driving force behind it. Recent publications, such as the Global Maritime Tech Startup Map 2025 by Flagship Founders and SkySail Advisors’ Maritime Technology Landscape, highlight the explosive growth of companies providing tech solutions for the sector as well […]
Energy News Beat Ship sales have been limited in June, with prices coming down by and large. According to Clarksons Research, secondhand prices have been easing since the third quarter of last year, with Clarksons’ five-year-old tanker and five-year-old bulker indices now down 16% and 14% respectively since August last year. Starting with dry bulk, […]
Energy News Beat Donald Trump’s chaotic trade policy making has led to unexpected volatility in container shipping freight markets. After the carriers pulled capacity from the Pacific, the US and China came to a short-term agreement on tariffs. On June 11, Trump said on his social media channel that “our deal with China is done” […]
Energy News Beat China’s air conditioning season increases electricity demand, which increases coal demand, which adds to the volume of spot fixtures of capesize and panamax bulk carriers to ship coal from Australia to China. Offsetting this, India’s monsoon season arrived eight days earlier than usual with above average rainfall predicted for 2025 with temperatures […]
Energy News Beat Oil and tanker markets generally benefit from geopolitical disruption. The outbreak of open warfare between Israel and Iran on June 12, with the US weighing in overnight on June 21/22, certainly has given the markets plenty to chew on. VLCC freight markets have reacted to events as one would expect. Freight rates […]
Energy News Beat Israel and Iran went to war, sparking massive tension in and around the Strait of Hormuz. Two tankers suffered a fiery collision south of the strait following extensive GPS spoofing. The US briefly joined the conflict before president Donald Trump claimed a ceasefire had been reached earlier this week. Two titans of […]
