Kuwait Oil Tanker Co
Photo: Kuwait Oil Tanker Co

Kuwait Oil Tanker Co said to weigh USD 3.3 billion fundraising


A Kuwaiti tanker carrier owned by the country's oil refiner is weighing whether to raise close to USD 3.3 billion to finance a fleet expansion, sources say.

Published 10.01.17 at 13:52

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

Depressed rates hit BW LPG in Q1

BW-Aries-(3).jpg Tanker:

The world's biggest LPG carrier left the first quarter with a significantly reduced result compared to the same period 2016. The pressure on rates will continue into the second quarter.

New tanker behemoth is a guidepost in consolidation wave


The idea that bigger companies enjoy increased interest from major investors will now be put to the test in the wake of the merger between Navig8 and Scorpio Tankers, says Mikael Skov, CEO of Hafnia Tankers, who has IPO plans of his own.

New shipping fund with Maersk players makes first acquisition


Navigare Capital Partners, a new investment company targeting the shipping industry, has made its first investment in two product tankers. "We will invest in different segments," CEO Henrik Ramskov tells ShippingWatch.

Fredriksen continues his crusade to become top supertanker player


Shipping magnate John Fredriksen continues the battle to take over DHT as the move could give his tanker carrier Frontline a superior position in the VLCC market. "Size does matter," one analyst tells ShippingWatch. "Very insufficient offer," says DHT.

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.

Frontline attacks DHT's leadership in takeover battle


The tone between the two tanker carriers with Norwegian roots, Frontline and DHT Holdings, has become increasingly irreconcilable and hostile – not least from Frontline's CEO, who now describes DHT's double CEO capacity as a waste of shareholder money.

Current front page

Maersk's gains from Grup Maritim TCB acquisition have yet to materialize

150906-TCB-Barcelona-container APM Terminals.jpg Ports:

One of APM Terminals' largest investments, the acquisition of Spanish Grup Maritim TCB, has yet to bring in major gains. This is evident from the annual report for the Maersk family's investment company A.P. Møller Holding, which has had to cut its dividends in half after a tough year for the Maersk Group.

Depressed rates hit BW LPG in Q1


The world's biggest LPG carrier left the first quarter with a significantly reduced result compared to the same period 2016. The pressure on rates will continue into the second quarter.

Norwegian dry bulk duo expands fleet and considers loan


Songa Bulk, controlled by Arne Blystad and Herman Billung, now owns ten vessels, eight of which have been delivered. The dry bulk carrier is also considering whether to issue a bond loan in Norway.

DFDS uses communication to encapsulate crises


"We were too slow," says DFDS' VP of Communications, Gert Jakobsen, about the case in which the Danish carrier was accused of wage dumping earlier this year. Crisis management is just one of the purposes of communication in the maritime sphere.

Wärtsilä tasks 400 employees with digitalization effort


The major Finnish supplier has established a new digital division. New people have been hired and 400 current employees from other divisions have been transferred to the division, which will focus in particular on cyber crime.

Large vessels have significantly reduced departure frequency


Since the first generation of larger container vessels hit the water in 2012, things have only gone one way for the number of weekly departures on major routes. SeaIntel has reviewed how many departures the major vessels have cut from their schedules.