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Photo: PR/Exmar

Exmar expects challenging gas market in 2017

Tanker:

Tanker carrier Exmar saw its revenue slide in 2016, though the bottom line grew following a series of one-off incomes, including payment for a canceled contract. A weak product tanker market combined with many new vessels will make 2017 challenging.


BY DANIEL LOGAN BERG-MUNCH
Published 31.03.17 at 08:53

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Most read Tanker

Fredriksen makes new attempt to buy DHT

Fredriksen.jpg Tanker:

John Fredriksen's Frontline has sent a new offer to DHT in which the company proposes a merger of Frontline and DHT. "We are convinced that the proposed new combination of Frontline and DHT will maximize value for both sets of shareholders," writes Frontline. DHT Holdings describes the new bid as "unimproved."

Euronav projects challenging 2017

Tanker:

Lower revenue and earnings for Euronav in the first quarter this year, and the carrier stresses that 2017 as a whole could be challenging for the tanker market.

Milaha suffered setback in Q1

Tanker:

Doha-based carrier Milaha saw its revenue and earnings slide in the first quarter this year. "We are continuing to face the same market challenges as in 2016," says management.

Thun Tankers orders new ships for Gothia alliance

Tanker:

Swedish tanker carrier Thun Tankers orders four new product and chemical tanker vessels which will join the Gothia Tanker Alliance. The ships are set for delivery in 2019 and 2020.

Investment bank: Hafnia Tankers equipped for acquisitions

Tanker:

US-based investment bank Seaport Global projects that IPO contender Hafnia Tankers will use its strong capital base to pursue a fleet expansion in the coming year.

Bimco: Tanker scrapping will quadruple this year

Tanker:

There has been major growth in the number of scrapped oil and product tanker vessels during 2017, but this is not likely to ease the pressure on the tanker market, writes Bimco in a new forecast.

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EU preparing restrictions on maritime subsidies

MT Amalienborg 3x5.jpg Carriers:

Several EU nations are currently subject to comprehensive reviews of their subsidies to carriers and maritime businesses. The EU Commission is preparing a more restrictive practice, ShippingWatch is told.

"The era of privately owned carriers is coming to an end"

Carriers:

That was one of the arguments cited when Hafnia Tankers CEO Mikael Skov and CEO of Teekay Corporation, Kenneth Hvid, participated in a debate in which they had to convince representatives from family-owned carriers that they belong to the past.

Fredriksen makes new attempt to buy DHT

Tanker:

John Fredriksen's Frontline has sent a new offer to DHT in which the company proposes a merger of Frontline and DHT. "We are convinced that the proposed new combination of Frontline and DHT will maximize value for both sets of shareholders," writes Frontline. DHT Holdings describes the new bid as "unimproved."

Singapore cements its position as leading maritime hub

Carriers:

A new report from Norway's Menon Economics, published Wednesday in Singapore, cements Singapore's status as the world's number one maritime hub. The analysis names Hamburg, Oslo, Rotterdam, London, and Copenhagen as the five key European maritime capitals.

Euronav projects challenging 2017

Tanker:

Lower revenue and earnings for Euronav in the first quarter this year, and the carrier stresses that 2017 as a whole could be challenging for the tanker market.

Danish tax authority: OW Bunker abused tax legislation

Services:

Equity fund Altor blurred the cash trail when it via Deloitte took DKK 1.2 billion out of Denmark. Now the Danish Customs and Tax Administration wants repayment of DKK 140 million, reports Danish media DR.

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