Frontline CEO flags impending VLCC + Suezmax shortage: Global VLCC and Suezmax fleets are set to face near term shortages as vessels age and order books fall short, Seatrade Maritime reports, citing statements by Frontline CEO Lars Barstad (Linkedin). Some 12.3% of VLCC vessels are over the age of 20 years, while VLCC newbuild orders represent just 1.5% of the current fleet. Suezmax tankers over the age of 20 are 14% of the existent fleet, but order books for the category are slightly greater at 4.5% of the current fleet size. What’s worse is that orders made now can only be delivered by 2H 2026. “It doesn’t really add up to the overall expectations of oil demand remaining fairly firm for the next three to four years,” Barstad said.

Market conditions are driving the shortage: Shipowners have been reluctant to make orders for new VLCC and Suezmax tankers, but shipyards are also unenthusiastic about filling orders even if the demand were present. “As long as there are higher margin kinds of ships to build, they will prefer that,” Barstad explained.

Shippers and governments are joining forces to combat costly pest infestations in cargo shipments, Seatrade Maritime News reports. Around 40% of global crops, worth some USD 220 bn, are lost to invasive pests every year, International Plant Protection Convention Secretary Osama El Lissy is quoted as saying. This year’s Global Shipper’s Forum explored methods of addressing the issue, including using steel floored containers that have no cracks or crevices as well as cleaning and inspecting containers before they are transferred to the next stakeholder, spokesperson for World Shipping Council Anna Larsson said.

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