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Read all the latest news about Crude tanker. ShippingWatch gives you independent, credible, critical and fair news.

Lower rates drag down DHT's results in Q2

Norwegian tanker carrier DHT took hits on the top and bottom lines in the second quarter this year due to lower rates during a period in which the carrier's fleet grew significantly following the acquisition of BW Group's fleet of VLCC supertankers.

JP Morgan: Crude oil could bottom out in two years

An imminent improvement for the crude oil segment will be short-lived, projects JP Morgan. A large number of orders weighs down and will send the market toward the bottom by 2020 at the latest, notes the bank.

Teekay Tankers sees earnings slide

The OPEC deal to reduce oil output along with refinery maintenance and towering fleet growth resulted in lower earnings at Teekay Tankers. The Bermuda-based carrier expects a challenging 2017.

Drewry: Scrapping could kick-start tanker recovery

A massive orderbook packed with new crude oil tankers set for delivery in 2017 means that overcapacity will continue to strain the sector. The large vessel influx will be replaced next year by weak demand, and the scrapping of vessels is thus crucial to the prospects of a tanker market recovery, writes Drewry.

DHT Holdings buys 11 VLCCs from BW Group

DHT Holdings is set to buy BW Group's fleet of 11 VLCCs including two newbuildings set for delivery next year, inform the parties Thursday. The transaction will make BW Group a major shareholder in DHT Holdings.

Euronav: Environmental regulations will remove tankers from the fleet

2017 could be a challenge to the tanker vessels transporting crude oil. But on the short and medium term, Euronav's CEO projects that a steadily increasing oil consumption across the globe combined with the new environmental requirements will make supertankers a sound business.

Frontline puzzled by rejection from DHT

Crude oil carrier Frontline, part of John Fredriksen's shipping and oil business, has a hard time understanding that the carrier's attempts to take over competitor DHT were rejected. The carrier expects strained tanker rates in 2017.

JP Morgan believes in improved shipping markets after 2018

J.P. Morgan has taken a closer look at the prospects for all shipping segments, and the investment bank points to the winners and losers among the shares. ShippingWatch presents a brief summary of the bank's predictions for container, dry bulk, tanker, and gas.

Tanker CEOs look with pessimism at 2017

The fourth quarter 2016 did not end well. This is the concurrent assessment from the head honchos of tanker; CEO of Euronav, Paddy Rodgers, and CEO of Torm, Jacob Meldgaard. And 2017 looks set to be weighed down by the many new vessels entering the fleet.

Euronav pads its coffers with VLCC deal

Belgian tanker carrier Euronav has signed a deal with investment companies to sell and lease back four VLCC supertankers. The transaction gives the carrier more than USD 100 million in free cash.

Morgan Stanley: VLCC rates at highest level since March

The fourth quarter is traditionally a good season for tanker carriers, but a surge in demand is currently keeping the vessels extra busy. A strong finish to the year for a segment which could face sliding rates following OPEC's announced cap deal.

Fredriksen's Frontline slips on weak summer

Unusually weak rates in the slow summer period are weighing down the bottom line in tanker carrier Frontline, yet management is pleased with the result despite sliding operating results and earnings.

McQuilling: Chinese oil thirst drives tanker market

Global capacity at refineries in the Far East and other regions is rising, thus boosting the demand for crude oil. China in particular is a driver in an otherwise tough year for tanker carriers, writes McQuilling in a new update.

Tanker carriers could benefit from Trump's triumph

If Donald Trump eases regulations of the oil and gas sector, the tanker carriers will likely get more to do, notes JP Morgan in a new analysis. The bank also voices concerns about the Republican's opposition to free trade.

Euronav pushes two VLCC deliveries to Q1 2017

Belgian crude tanker behemoth Euronav has made a deal with its shipbuilder to push back delivery of two VLCC vessels to the first quarter 2017. The carrier thus also defers a large payment to early next year.

Euronav buys two vessels ahead of challenging quarter

Crude oil carrier Euronav has acquired two VLCCs still under construction. This is a good time to buy, as asset values are low, says CEO Paddy Rogers in relation to the carrier's final interim report for the second quarter.

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