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Team Tankers hit by lower rates in 2016

Tanker:

Chemical tanker carrier Team Tankers went from a profit of close to half a billion dollars in 2015 to a deficit in 2016, and the carrier thus tumbled along with the generally deteriorated tanker market. "We are not pleased with the results," says CEO Hans Feringa.


BY LOUISE VOGDRUP-SCHMIDT
Published 01.03.17 at 10:52

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Most read Tanker

Hafnia Tankers books deficit for Q2

Hafnia1-version2.jpg Tanker:

Hafnia Tankers' bottom line went negative in the second quarter, as the market remains characterized by an oversupply of vessels and full oil deposits.

Scorpio Tankers merges with Navig8

Tanker:

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.

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.

This man will steer Maersk Tankers through the divorce

Tanker:

Maersk Tankers will be separated from Maersk Group and become an independent company as part of the split of the conglomerate. Christian Michael Ingerslev will head this process. Meet him here.

Former CEO leaves Fredriksen's new tanker giant

Tanker:

Immediately following the merger of the two Frontline-companies, which has created the world's largest tanker carrier, former CEO Jens Martin Jensen has left the company. But he is not leaving the industry. "My heart beats for shipping," he tells ShippingWatch.

Media: Hafnia Tankers discussing merger with Diamond S Shipping

Tanker:

According to media Tradewinds, negotiations are taking place between Hafnia Tankers, headquartered north of Copenhagen, and US Diamond S Shipping, which is controlled by equity fund investor and current US Secretary of Commerce Wilbur Ross (pictured). Hafnia Tankers CEO declines to comment to ShippingWatch.

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CEO has leaned down J. Lauritzen for tough years

Mads Zacho 4.jpg Bulk:

CEO Mads P. Zacho has reduced expenses at J. Lauritzen in order to prepare the carrier for a protracted downturn on the dry bulk market. There is no need for more major cost cutting, he tells ShippingWatch.

Hafnia Tankers books deficit for Q2

Tanker:

Hafnia Tankers' bottom line went negative in the second quarter, as the market remains characterized by an oversupply of vessels and full oil deposits.

DFDS Executive VP: I've sometimes listened a bit too much

Carriers:

Is it possible to listen too much when collaborating? Yes, at times, says Executive VP Peder Gellert Pedersen of DFDS. For instance in the executive group. "I've been too attentive rather than forcing decisions through," he says in ShippingWatch's series on leadership.

Pacific Basin looking at new asset acquisition opportunities

Bulk:

Among the dry bulk carriers, Pacific Basin is one of the few players so confident in the market that it has performed a significant fleet expansion. And more could be underway. ShippingWatch has interviewed CEO Mats Berglund about where the optimism comes from.

Gothenburg port conflict could lead to bankruptcies

Ports:

The year-long conflict in the port of Gothenburg involving APM Terminals has proved expensive for Swedish industry. Swedish chamber of commerce projects that the conflict could trigger bankruptcies, according to newspaper Dagens Nyheter.

South Korean shipbuilders beat China in orders

Suppliers:

Shipyards in South Korea have surpassed China again in terms of receiving the most orders for new ships and platforms. The major South Korean yards have been in the doldrums in recent years, but 2017 has been positive so far.

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