Tanker carrier Golar LNG has hired a new CEO in an effort to focus more on growth. The new CEO joins the carrier from an Australian consulting firm that deals mainly with the energy sector. Analysts praise the decision.
Belgian tanker carrier Exmar booked a deficit for the first half of the year, a period in which the carrier's LNG activities in particular had a negative impact, while LPG and offshore also caused problems.
Norwegian gas carrier Höegh LNG booked a USD 8.5 million profit in the second quarter. A new strategic alliance with an Arab carrier is a positive indicator of the expected boom for floating LNG terminals, says the CEO in the rpeort.
Qatar owns close to 15 percent of the share capital in Hapag-Lloyd, and this could pose problems for the planned capital expansion in light of the state's current conflict with its Arab neighbors, writes Alphaliner. Several container carriers are already hit by the boycott against Qatar.
If the conflict between Qatar and its neighboring states escalates further, the development could impact the supply of LNG. Six LNG vessels have so far been denied access to the United Arab Emirates, reports Reuters. But a consultant remains optmistic.
The gas carrier finished the first three months of the year with improvements across the board, a development attributed in particular to a new project in Colombia. The carrier also beat market expectations. "Balance sheet remains rock solid," notes Fearnleys.
Gas carrier Exmar went red in the first quarter in the weak LPG market where too many vessels are undermining an otherwise historically strong US gas export. The carrier has also called off negotiations to acquire a Dutch FSRU fleet.
Tanker carrier Exmar saw its revenue slide in 2016, though the bottom line grew following a series of one-off incomes, including payment for a canceled contract. A weak product tanker market combined with many new vessels will make 2017 challenging.
Tankrederiet Exmar fik en lavere omsætning i 2016, hvor bundlinjen dog røg i vejret efter en række engangsindtægter for blandt andet aflyste kontrakter. Et svagt produktmarked kombineret med mange nye skibe vil gøre 2017 svært.
Earnings at the Arabian LNG carrier decreased by a little under QAR 30 million in 2016. Despite the downturn in the oil and gas market and overcapacity in the shipping markets, the carrier is pleased with the result.
Norwegian gas carrier Höegh LNG has now become a partner in a huge gas project in Pakistan, where the company will also deliver and operate one of the FRSU plants. The consortium also includes energy companies such as ExxonMobil and Total.
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.
Gas carrier Höegh LNG has ordered a series of large FSRUs from South Korean shipyards Hyundai Heavy and Samsung Heavy. The ships are set for delivery in 2018 and 2019 and will work on contracts in Ghana and Pakistan.