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

Drewry: Scrapping could kick-start tanker recovery

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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.

Drewry: Skrottede tankskibe kan sætte gang i opsving

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En massiv ordrebog af nye råolietankere sat til levering i 2017 betyder, at overkapacitet fortsat vil holde sektoren nede. Næste år vil den store flådetilgang blive afløst af svag efterspørgsel, og skrotning af tankskibe er derfor afgørende for at sikre et bedre tankmarked, skriver Drewry.

DHT Holdings books first quarter profit

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DHT Holdings performed above analyst expectations with the operating result in the first quarter this year. The carrier, which is subject to continuous acquisition offers from competitor Frontline, has also settled a new bank agreement.

Frontline to DHT: Let the shareholders decide

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DHT Holdings' board of directors rejects the Frontline bid announced on April 25. The board adds that it is about time that the parties move on. Instead, Frontline replies that the bid should be presented to the shareholders, according to a comment to ShippingWatch.

VLCC fleet growth in 2017 cause for concern

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Significantly more supertankers will join the fleet this year – and likely, in the years to come – than there are vessels leaving the fleet, shows a survey by McQuilling. As many as 30 new VLCCs are expected delivered this year while ten will leave the fleet, and that is cause for concern, notes the firm.

Frontline's new charge on DHT averted

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The Marshall Islands court has, like the court in New York, determined that the deal between BW Group and DHT Holdings does not pose a problem. Frontline has at both courts attempted to have the transaction voided in an attempt to get a bigger share in DHT Holdings' VLCC fleet.

Fredriksen makes new attempt to buy DHT

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John Fredriksen's Frontline has sent a new offer to DHT in which the company proposes a merger of Frontline and DHT. "We are convinced that the proposed new combination of Frontline and DHT will maximize value for both sets of shareholders," writes Frontline. DHT Holdings describes the new bid as "unimproved."

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