Two newly built environmental service vessels—the boom layers and oil/debris skimmers of the R 2010 design were launched at Zvezda shipyard

Middle East Crude oil-Tanker Rates Slump asShipSurplus ExpandsBusinessweekThe supply of supertankers available in the Persian Gulf over the next four weeks expanded by five to 73ships, according to an e-mailed note from Marex Spectron Group today. The combined carrying capacity of the world VLCC fleet will expand 5.1...and more��

In its latest weekly report, London-based shipbroker Gibson noted that India could soon emerge as a decisive factor in providing a boost in the tanker market. According to the shipbroker,"over the past ten years, India’s crude oil imports have more than doubled to accommodate the country’s growing population and expanding economy. This has driven

China is to increase its investment in Greece's port industry, and deepen its economic ties with the southern European country as it struggles to clear its massive debts

Chinese shipyards have powered ahead and now produce more ships than anybody else, but the business of shipbuilding is becoming increasingly difficult

 Egypt and Turkey have agreed on an Iranian proposal calling for establishing an organization of ‘Petrochemical Producing Countries’

Moody's notes that the ongoing shift in trade patterns owing to falling US oil imports has credit-negative implications for the entire tanker industry as it is likely to depress freight rates.

South Sudan Information Minister Benjamin said China would purchase 40 %, Malaysia 30% and India 25% of South Sudan's total oil exports.