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Tanker carriers await the effect of OPEC oil deal

Tanker:

The OPEC agreement to reduce oil output was already visible in January, but the effects still have yet to trickle into the tanker markets, writes investment bank Morgan Stanley in an analysis.


BY LOUISE VOGDRUP-SCHMIDT
Published 13.02.17 at 15:46

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Most read Tanker

DHT Holdings buys 11 VLCCs from BW Group

DHT_Ann_skyline.jpg Tanker:

DHT Holdings is set to buy BW Group's fleet of 11 VLCCs including two newbuildings set for delivery next year, inform the parties Thursday. The transaction will make BW Group a major shareholder in DHT Holdings.

Wilbur Ross' ownership of Diamond S under scrutiny

Tanker:

Several critical observers question US Secretary of Commerce Wilbur Ross' continued ownership of product tanker carrier Diamond S Shipping. The carrier's ties to China in particular are being criticized by ethics experts who point to possible conflicts of interest.

Analysts praise DHT Holdings for "splendid transaction"

Tanker:

Clarksons Platou and Fearnley Securities are both praising tanker carrier DHT Holdings for its purchase of BW Group's VLCC fleet. With the transaction, the company goes from being on the defense to an active player in the consolidation in the tanker market, say the analysts.

Frontline puzzled by rejection from DHT

Tanker:

Crude oil carrier Frontline, part of John Fredriksen's shipping and oil business, has a hard time understanding that the carrier's attempts to take over competitor DHT were rejected. The carrier expects strained tanker rates in 2017.

Investment bank: Hafnia Tankers equipped for acquisitions

Tanker:

US-based investment bank Seaport Global projects that IPO contender Hafnia Tankers will use its strong capital base to pursue a fleet expansion in the coming year.

Impairments made DHT Holdings' profit dive in 2016

Tanker:

Large-scale impairments pulled tanker carrier DHT Holdings' profit down significantly in 2016. The carrier, for which Frontline has just made a purchasing offer, has ordered two new VLCCs.

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Hapag-Lloyd: 2016 was "not satisfactory"

rolfhabbenjansen.jpg Container:

"The bottom line is still that this result is not satisfactory," says Rolf Habben Jansen, CEO of Hapag-Lloyd, which has just published its report for last year. 2017 also saw a tough start for the carrier.

Ultrabulk delivers yet another profit for 2016

Bulk:

Chilean-owned but Denmark-based Ultrabulk can, unlike many of its competitors, present yet another profit in its books for 2016. Speaking to ShippingWatch, CEO Per Lange describes 2017 as a year which showed several positive trends for dry bulk.

Wilbur Ross' ownership of Diamond S under scrutiny

Tanker:

Several critical observers question US Secretary of Commerce Wilbur Ross' continued ownership of product tanker carrier Diamond S Shipping. The carrier's ties to China in particular are being criticized by ethics experts who point to possible conflicts of interest.

Arkon Shipping bags capital from new major shareholder

Bulk:

Logistics group Rhenus has bought 40 percent of German shortsea and MPP carrier Arkon Shipping, and the two are establishing a joint investment unit.

Svitzer's growth in Asia lower than expected

Carriers:

Things have not moved quite as fast in Asia as expected since Svitzer opened office in Singapore in early 2016. The strategy in the region will change when the new overall strategy for Svitzer is settled in the second quarter this year, Managing Director Alan Bradley tells ShippingWatch.

Norwegian offshore carriers finalize merger deal

Offshore:

The merger between Solstad, Farstad, and Deep Sea Supply has now been signed by the three carriers' boards of directors. The new offshore behemoth is thus a step closer to becoming a reality.

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