Photo: Dorian LPG

Drewry: Oversupply of vessels will keep LPG rates in check


A steady rise in demand from Asia will lead to gradually improving market conditions for LPG, but a continued and significant overcapacity will keep rates down in 2017, projects Drewry.

Published 17.02.17 at 13:08

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

Torm Executive Director eyes flat development in product tanker

Torm3.jpg Tanker:

Danish product tanker carrier Torm finished the second quarter this year with an operating profit of USD 36 million and a negative bottom line of USD 2 million in a challenging market.

Torm and Hafnia are candidates in major merger wave


A group of 5 to 10 carriers could be swept up in the consolidation wave which has begun among dominant and equity fund-owned carriers in the product tanker sector, sources tell ShippingWatch.

Concordia looks ahead after booking new loss


The second quarter in 2017 brought another deficit for Concordia Maritime, which is struggling in a weak market for product tanker, just like its competitors. CEO Kim Ullman believes in a gradual recovery from 2018.

Euronav goes red with USD 24 million deficit


Numbers from Belgian Euronav, which operates one of the world's largest fleets of VLCC supertankers, confirms the weak tanker market in recent months.

Crude oil tanker rates circling three-year low


The upcoming interim reports from leading tanker carriers in crude oil in particular could contain depressing news for owners and investors.

Navig8 Chemical Tankers booked deficit


Navig8 Chemical Tankers suffered a deficit of USD 3.6 million, according to the interim report for the second quarter. The market for chemical products has stabilized, albeit at lower levels, says CEO.

Current front page

Smedegaard aims to land two acquisitions this year

DFDS CEO Niels Smedegaard 2-version1 Carriers:

The second quarter was historically good for DFDS which also bought new vessels during the period. CEO Niels Smedegaard tells ShippingWatch that there are two acquisitions in the pipeline, which he hopes to land this year. "It is a nice situation to be in," he says.

Jan Rindbo: Dry bulk rates must rise to ensure profit


They have seen the highest dry bulk rates in four years but it is still not enough, Norden CEO Jan Rindbo tells ShippingWatch. The carrier's bright spot came in the form of the struggling tanker segment.

Alphaliner: APM Terminals could be leaving India


An Indian newspaper reports that APM Terminals is preparing to sell its large stake in port Gateway Terminals India. If the sale happens, it could indicate that APM Terminals is on track to leave India entirely, writes Alphaliner in an analysis.

Svitzer will sell 11 laid-up vessels


The Maersk Group's towage company Svitzer will sell 11 laid-up vessels which have no prospect of securing work at sustainable prices due to market overcapacity.

Weak offshore market drags down Boskalis


Dutch Boskalis was hit by the weak offshore market in the first half of the year, as the net result dropped almost 50 percent to EUR 75.1 million compared to last year.

Maersk Drilling wins contracts for three rigs


Maersk Drilling has landed contracts and secured more work for three of its drilling rigs. One is a new contract while two are extensions on current projects.