Login
Luxembourg.jpg
Photo: Euronav

Tanker carriers heading into gloomy 2017

Tanker:

Uncertainty concerning the oil price and many newbuildings in the first quarter means that 2017 looks set to be a tough year for tankers which transport crude oil, project two analyst firms.


BY NIKLAS KRIGSLUND
Published 30.12.16 at 14:44

Log in to read articles

Some of our content is exclusively for subscribers.

Try ShippingWatch free for 14 days

Get 14 days free trial access

Sign up for ShippingWatch newsletter
Most read Tanker

Drewry: This is why shipowners should invest in FSRUs

FSRU Höegh LNG Klaipeda.jpg Tanker:

FSRUs, floating LNG terminals, are a better investment than new LNG vessels, writes Drewry in a new analysis. This is despite declining rates on the floating terminals.

JP Morgan: Crude oil could bottom out in two years

Tanker:

An imminent improvement for the crude oil segment will be short-lived, projects JP Morgan. A large number of orders weighs down and will send the market toward the bottom by 2020 at the latest, notes the bank.

Torm buys four MR vessels from Chinese yard

Tanker:

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.

Bertram Rickmers could lose his entire empire

Tanker:

A financial restructuring of Rickmers Group could mean that Bertram Rickmers loses his entire stake in the storied German shipping group. One of the biggest symbols of German shipping's power is about to fall.

BW Group orders a series of new product tankers

Tanker:

BW Group is now entering the LR2 segment with an order for at least six new product tankers with an option for two more. CEO of BW Pacific, Tina Revsbech, confirms the order to ShippingWatch.

DHT's takeover of BW Group's VLCC fleet is complete

Tanker:

DHT Holding has completed its acquisition of BW Group's fleet of nine VLCCs together with contracts on two VLCCs. "Our fleet has been expanded by 50 percent at what we think is an opportune time in the cycle," says management.

Current front page

Attorney General: Lars Møller acted in his own interest

lars-moller (1).jpg Services:

The former CEO of OW Bunker's Singapore subsidiary, Lars Møller, had no interest in manipulating the numbers, said his defense team recently. Wrong, says the Danish financial police. The chief exec could bag himself a better bonus, according to the indictment.

German family acquires SAL from Japan's K-Line

Carriers:

The Briese and Harren family have a firm grip on the global heavy lift segment after K-Line has agreed to sell SAL Heavy Lift to company Salto, owned by Martin and Peter Harren. With Briese owning BBC Chartering and working closely together with Harren, the concentration of the segment in North Germany seems absolute.

Seadrill prepares investors for considerable losses

Offshore:

The drilling company has secured an extension of its deadline to negotiate a rehabilitation, but time is still running out and the company is now preparing its investors and other stakeholders for coming losses.

Subsea 7 projects rise in orders in first half of 2018

Offshore:

The offshore carrier achieved a higher revenue and improved bottom line in the second quarter. Recent acquisitions will contribute to a higher revenue for 2017 than last year, and the company expects a surge in orders in the strained offshore market.

Singapore's high court declares Ezra company bankrupt

Offshore:

Yet another company under Singapore's once-booming offshore company Ezra has collapsed. Subsidiary Lewek Champion, with the offshore vessel of the same name, has been declared bankrupt by Singapore's high court.

Oil hits USD 50, but Credit Suisse is slashing its forecast

Offshore:

Saudi Arabia has given the oil price a boost over the past few days, yet Credit Suisse is not positive about the future and is slashing USD 5 from its 2020 forecast.

ADVERTISEMENT

Vacancies

ADVERTISEMENT