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Product tanker soars on big slide in US gasoline reserves

Tanker:

Deutsche Bank points to significant upside in the oil product tanker market over the next 12 months. This would be good news for IPO candidates such as Torm and Hafnia Tankers.


BY OLE ANDERSEN
Published 20.03.17 at 13:18

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Most read Tanker

Fredriksen offloads DHT shares following failed offer

Fredriksen.jpg Tanker:

John Fredriksen and his tanker carrier Frontline are offloading shares in DHT Holdings. The sale comes after Frontline's attempts to buy the competitor failed last week, as DHT made a deal with BW Group instead.

Hafnia Tankers orders two newbuilds from China

Tanker:

The Danish product tanker carrier has ordered two large newbuilds through a Chinese joint venture for USD 74 million.

DHT Holdings buys 11 VLCCs from BW Group

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.

Upcoming Maersk-chairman: It is a matter of shaping the direction

Tanker:

In a short space of time, Jim Hagemann Snabe has been selected as the new chairman for the two huge companies, Siemens and Maersk. He projects that each post will amount to a part-time job.

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.

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.

Current front page

Chairman: Maersk has developed 15 digital prototypes

michaelpram.jpg Container:

Maersk has developed 15 digital prototypes, says Maersk's departing chairman Michael Pram Rasmussen at the Maersk General Assembly in Copenhagen on Tuesday. He also expresses "pride" at the work being done by Maersk at shipbreaking facilities in India.

Hapag-Lloyd: Aggressive Maersk Line conquered market shares

Container:

It was an aggressive Maersk Line which conquered nine percent of the global container market in 2016, says Hapag-Lloyd CEO Rolf Habben Jansen, who now risks losing longtime cooperation agreements with "neighbor carrier" Hamburg Süd to Maersk Line.

Lauritzen's head of dry cargo steps down

Bulk:

J. Lauritzens' head of dry cargo, Peter Borup, has stepped down from the carrier "following mutual agreement." The carrier is currently struggling to settle a refinancing agreement. The head of Lauritzen's gas vessels will serve as interim head of dry cargo.

Fredriksen offloads DHT shares following failed offer

Tanker:

John Fredriksen and his tanker carrier Frontline are offloading shares in DHT Holdings. The sale comes after Frontline's attempts to buy the competitor failed last week, as DHT made a deal with BW Group instead.

OW Bunker's former CEO has passed away

Carriers:

Jim Pedersen has passed away after a long period of illness, confirms his lawyer.

HMM: Not difficult to become world's 5th-largest container carrier

Container:

Hyundai Merchant Marine, currently ranked 13th among the world's largest container carriers, says that it would not be difficult to reach 5th place in the foreseeable future, reports Korea Times.

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