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

Concordia Maritime in new fleet expansion

The listed tanker carrier has signed two new charter contracts which, according to CEO Kim Ullman, confirm the carrier's positive outlook for the product tanker market from mid-2018.

Tanker carriers could be hit by oil peak earlier than expected

The demand for oil could peak before many stakeholders expect, say several analysts. They advise tanker carriers to take it seriously when setting out future strategy, while there is some indication that at least one carrier is already in the midst of a transition.

Diamond S pulls 18 vessels out of Norden's tanker pool

Diamond S Shipping, controlled by current US Secretary of Commerce Wilbur Ross, is pulling its vessels out of Norden's tanker pool and Scorpio for strategic reasons. "Not a problem for us," says Søren Huscher, CEO of Norient Product Pool.

Hafnia Tankers books deficit for Q2

Hafnia Tankers' bottom line went negative in the second quarter, as the market remains characterized by an oversupply of vessels and full oil deposits.

Maersk Tankers books huge impairment on vessels

The Maersk Group's product tanker carrier, Maersk Tankers, lost more than USD 483 million in the second quarter, a deficit that pulls the group into the red. Port unit APM Terminals also booked impairments related to several ports.

Torm buys vessels again

The Danish tanker carrier is once again tapping the market with the purchase of another two MR vessels. Torm has now acquired six vessels within just a few weeks.

Torm buys four MR vessels from Chinese yard

Product tanker carrier Torm has purchased four MR vessels from Guangzhou Shipyard International. The order comes with options for up to four additional vessels, CFO Christian Søgaard tells ShippingWatch.

Equity funds preparing to exit tanker shipping

A series of private equity companies are approaching the perfect timing for selling their stakes in product tanker carriers, and this could be the beginning of an upheaval in the industry. Torm's CEO is ready to explore merger opportunities.

Bugbee calls on competitors to join forces

Not long ago, observers had little interest in Robert Bugbee as the Scorpio project looked set to fail. Now he is the man who has done what everyone is talking about in product tanker, and in an interview with ShippingWatch he calls on competitors to follow his lead.

Scorpio Tankers merges with Navig8

The consolidation wave in product tanker is now reality. Robert Bugbee's Scorpio Tankers will merge with Navig8 and issue new shares for USD 200 million. The new behemoth will have a fleet of 105 vessels and will compete directly with carriers such as Torm, Ardmore, and Hafnia Tankers.

Consolidation wave could be in store for product tanker

There will be more mergers, acquisitions, and general consolidation in the product tanker market within the next 12-24 months, Hafnia Tankers and Jyske Bank tell ShippingWatch. Torm Executive Director Jacob Meldgaard is also open to the idea.

Torm is open to consolidation in product tanker

Tanker carrier Torm is positive when it comes to a consolidation of the product tanker market. Bigger carriers will be more interesting to banks and investors, Executive Director Jacob Meldgaard tells ShippingWatch.

Torm's profit down big-time in Q1

Tanker carrier Torm exits the first quarter of the year with a profit of USD 4.8 million. The carrier no longer publishes guidance for earnings.

Ardmore Shipping in Q1 deficit

The tanker carrier suffered a deficit in the first quarter 2017, but points to very positive developments in the market for medium range tankers, notes CEO Anthony Gurnee.

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