On March 15, the Indian-flagged vessel ‘Jag Laadki’ departed from Fujairah port, carrying 80,800 metric tonnes of Murban crude oil to India. The Ministry of Shipping confirmed the safety of the vessel and its Indian crew. Additionally, two LPG carriers are en route, with ongoing monitoring of Indian seafarers in the region.
A recent spike in freight rates for crude oil has prompted tankers to switch from transporting refined products. In just four days of September, nine LR2 tankers moved to crude, bringing this year’s total to 35 shifts. Enhanced oil production and strict sanctions on Russia and Iran drive this trend.
The Protected Transfer System (PTX) by Safe STS and Gall Thomson revolutionizes crude oil transfer at sea. With integrated sealing mechanisms, it prevents spills and aligns with global environmental standards. Its rapid remote disconnection and lightweight design enhance safety and efficiency in offshore operations. Industry adoption is growing, making PTX a global solution for safe transfers.
The crude oil tanker market faces challenges due to an ageing fleet in need of replacement. Shipyards focus on building other vessel types. Trafigura orders five new VLCC tankers to modernize its fleet. The market requires around 1,100 new crude oil tankers, including 400 VLCCs, to meet demand. Trafigura sees potential growth in this segment.
