Australian Transport Safety Bureau releases ‘Shen Neng 1’ initial report

The Australian Transport Safety Bureau has released its initial report into the grounding of the ‘Shen Neng 1’ at Douglas Shoal, north of he entrance to the port of Gladstone.

Samsung Heavy Industries, Korea, has added another newbuild contract to its orderbook, making it the sixteenth Suezmax order placed since December 2009.

The tanker market is headed for a 35 percent slump, according to a new report by Bloomberg.

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