The International Energy Agency (IEA) says development finance support for clean energy must triple by the 2030s, accompanied by a huge mobilisation of private capital, in order to meet net-zero targets. National and multilateral development finance institutions (DFIs) play a “crucial role” in supporting energy transition investments, the agency says in a July report. “In ...| Global Trade Review (GTR)
In the Supply/demand balance For crude tankers, BIMCO forecasts the supply/demand balance will tighten further during both 2024 and 2025. Low fleet growth, along with increasing sailing distances, create the foundation for the improvement despite a slowing of growth in oil demand.| The Maritime Review
During the first 8 months of 2023, contracting of product tanker newbuilds hit a 10-year high, reaching 140 ships and 10.72 million deadweight tons (DWT). The last time more than 10 million DWT were contracted from January to August| The Maritime Review