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Fewer floating oil storages could strain tanker market

It will soon not be worth it to store oil on tanker vessels while waiting for higher oil prices. The ships, which have previously been used as floating storages, could now reenter the market and worsen the oversupply in 2017.

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MSC to increase capacity of 11 vessels at Chinese yard

Container carrier MSC has signed a deal with a Chinese shipbuilder to increase the length of its 11 container ships, to boost their capacity to 17,000 teu. Competitor CMA CGM has also made a deal with the same yard, report several media.

Seadrill presents new business plan

The John Fredriksen-owned drilling company Seadrill, currently under Chapter 11 in the US, has released a new business plan. The plan indicates significant setbacks in revenue and earnings at Seadrill for the next five years.

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