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North Korean tankers loading oil in Russia

Eight vessels from North Korea, currently subject to sanctions, have this year loaded oil cargoes in Russia, with China and South Korea listed as their destination. But the course was changed at a later point, reports Reuters.

Navios' tanker unit in Q2 deficit

The tanker carrier at Greek Navios' was hit in the second quarter by fluctuating oil prices and uncertain commodity prices going forward. The company lost USD 4.6 million in Q2.

Carriers have ordered more tankers and bulkers this year

The first six months of 2017 saw a rise in orders for new tanker and dry bulk vessels compared to the first half of 2016. For one segment, no newbuild orders have been placed so far this year, show new numbers from VesselsValue.

Odfjell buys vessels and creates tanker pool

Norwegian carrier Odfjell has signed a declaration of intent to order as many as five chemical tanker vessels together with a US-based partner. The ships will be delivered within the next year and will be placed in a new pool.

Saga Tankers owner to cash huge dividend

Saga Tankers, controlled by investor Øystein Spetalen, will at the upcoming general assembly pay out dividends corresponding to almost half the company's market value.

Marshall Islands court rejects Frontline request

According to tanker carrier DHT Holdings, the court in the Marshall Islands has rejected Fredriksen-controlled Frontline's request for a preliminary ban on the transaction DHT has made with BW Group.

Media: Fredriksen in talks with new tanker carrier

John Fredriksen is, according to the Wall Street Journal, in talks related to an acquisition of US-based tanker carrier Gener8 Maritime in a deal which would create the world's biggest VLCC fleet. As such, Frontline looks to have quit its pursuit of DHT.

Tanker rates tumble after OPEC meeting

Rates for supertankers in the Middle East have plunged to the lowest level since 2014 for this time of year, reports Morgan Stanley. The investment bank expects strained rates for some time going forward.

Dwindling profits for Sovcomflot in Q1

Russian tanker carrier Sovcomflot – despite a weak market – finished the first three months of 2017 with a profit in the company's perhaps last interim report before an IPO.

Cosco to invest a billion dollars in tankers

Cosco's tanker division plans to expand its fleet with investments totaling USD 1 billion, reports Tradewinds. The investments will concern vessels set for delivery between 2019 and 2020.

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.

Norden logs USD 1 million profit in Q1

Norden booked a surprising profit on the bottom line in the first quarter. The bulk business still has an overall deficit, but is improving. Meanwhile, profits were reduced in the tanker business.

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