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Photo: Stena Bulk

Stena Bulk: At least two tough years ahead for tanker

Tanker:

There will be significant challenges in the tanker market up until 2019, and it will be a matter of survival, says Stena Bulk CEO Erik Hånell in an interview with ShippingWatch. Digitalization is one of the carrier's means to handle the downturn.


BY LOUISE VOGDRUP-SCHMIDT
Published 22.02.17 at 12:44

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Most read Tanker

Carriers ordering far more tankers and bulkers this year

MaerskVLCC1.jpg Tanker:

The number of new dry bulk and tanker vessels ordered in the first half of the year has soared big-time – and this is far from what the sector needs, says Bimco's chief analyst in an update.

Frontline abandons corporate acquisitions and bets on own fleet

Tanker:

John Fredriksen's crude oil tanker carrier Frontline has given up its efforts to buy its way to a position as the world's biggest player in its segment. For now at least. The carrier bets on the benefits from its own fleet renewal, CEO Robert Hvide Macleod tells ShippingWatch.

Cosco Shipping secures financing for tanker vessels

Tanker:

Cosco Shipping has signed a credit agreement with bank Cexim for USD 544 million which will be used to finance ten tanker vessels, notes Fearnley Securities in an update.

Soaring activity in tanker market casts doubt on OPEC deal

Tanker:

The volumes of crude oil out of the Middle East along with higher tanker rates over the past week seem to confirm the OPEC members' poor commitment to their output cap agreement, notes Morgan Stanley.

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.

Torm and Hafnia are candidates in major merger wave

Tanker:

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.

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Maersk confirms: IT crash is caused by hackers

Maersk Line container 1 Container:

A hacker attack has triggered a large-scale crash of Maersk Group's IT systems, the company tells ShippingWatch. It remains unknown how the group's customers will be impacted. APM Terminals has also been struck in ports in the US and Netherlands.

Claus-Peter Offen will spearhead German consolidation

Container:

Just as a wave of mergers and acquisitions has consolidated container carriers in recent years, the many German tonnage owners need to join forces. One of the premier personalities in German shipping, Claus-Peter Offen, tells ShippingWatch that he is ready to spearhead the process.

EU tax negotiations for shipping could last rest of the year

Carriers:

Greece and the EU Commission could possibly spend the rest of the year negotiating the country's taxation of shipowners. The negotiations could affect other EU member states.

Acquisition grows bottom line at Shipping Holding

Services:

Shipping Holding, part of Torben Østergaard's USTC group, achieved growth on the bottom line after a major acquisition in the past fiscal year. More acquisitions are in store for the company.

JP Morgan slashes oil price estimate for the rest of the year

Offshore:

The major bank will now lower its oil price estimates for the third and fourth quarters this year.

China investing billions in African LNG projects

Offshore:

Chinese investors are looking to place around USD 7 billion in projects involving floating LNG production facilities, reports Reuters.

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