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.
Rates for product tanker vessels are up by 35-40 percent since Hurricane Harvey struck Texas and closed 10 refineries. Anders Engholm, CEO of Hafnia Management, sees long-term impacts as a result of the natural disaster.
Investor Jan Bech Andersen, who in his native Denmark is known as the main shareholder of a listed football club, has taken over the post as head of the tanker division in one of the world's leading trade houses within oil products, based in Geneva.
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.
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.
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.
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.