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Frontline attacks DHT's leadership in takeover battle

Tanker:

The tone between the two tanker carriers with Norwegian roots, Frontline and DHT Holdings, has become increasingly irreconcilable and hostile – not least from Frontline's CEO, who now describes DHT's double CEO capacity as a waste of shareholder money.


BY TOMAS KRISTIANSEN
Published 16.05.17 at 09:19

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Most read Tanker

New shipping fund with Maersk players makes first acquisition

Henrik Ramskov.jpg Tanker:

Navigare Capital Partners, a new investment company targeting the shipping industry, has made its first investment in two product tankers. "We will invest in different segments," CEO Henrik Ramskov tells ShippingWatch.

BW Group orders a series of new product tankers

Tanker:

BW Group is now entering the LR2 segment with an order for at least six new product tankers with an option for two more. CEO of BW Pacific, Tina Revsbech, confirms the order to ShippingWatch.

Frontline hit by weak rates in first quarter

Tanker:

Crude carrier Frontline saw its profit slide in the first quarter 2017 due to weak rates in the tanker market. But the CEO is optimistic and maintains the strategy to grow despite the failed attempts to take over competitor DHT.

John Fredriksen to create new Norwegian tanker behemoth

Tanker:

Tanker carrier Frontline, controlled by John Fredriksen, has submitted a proposal for the acquisition of all shares in competitor DHT Holdings. The board of DHT Holdings is now deliberating the offer. If they accept, a new Norwegian crude tanker giant will be born covering 10 percent of the global fleet.

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.

Höegh LNG and Nakilat exploring potential partnership

Tanker:

The two gas carriers Höegh LNG and Nakilat will look into forming a joint business in Floating Storage and Regasification Units for LNG. The companies have signed a Memorandum of Understanding to explore the possibilities.

Current front page

Port of Gothenburg labor conflict required constant communication

magnuskårestedt.jpg Ports:

CEO of the Port of Gothenburg, Magnus Kårestedt, has spent much of his time in the last 18 months handling the port's labor conflict between APM Terminals and the dockworkers. "Many don't understand the core of the conflict," he says in the latest article in ShippingWatch's series on communication.

It has been a bit more fun to be a dry bulk carrier in 2017

Bulk:

Rates have generally been higher in 2017, a year projected by many to be a year of beginning recovery – but a decline since the boom in the spring has curbed the budding optimism. And this could be a good thing, says J.P. Morgan.

Svitzer awarded 15-year contract in Bangladesh

Carriers:

Maersk's towage unit has won a contract to service the first floating LNG terminal in Bangladesh. The contract supports the company's ambitions to grow in the oil and gas sector.

BP weighs divestment of oil fields in the North Sea

Offshore:

According to internal sources, BP has contacted potential buyers for its oil and gas fields in the North Sea, reports the Wall Street Journal. Asset managers are allegedly in the picture.

Keppel Marine & Offshore suffers half-year deficit

Suppliers:

Keppel's marine business, which covers several yards specializing in offshore, suffered a deficit in the first six months of the year, compared to a profit of USD 177 million in the same period last year. The offshore sector drags the business down.

Port of Rotterdam wants more state support

Ports:

Rotterdam's port booked a positive first half of the year with rising freight volumes. But if this development is to continue, the Dutch state must show more support, like in neighboring countries such as Germany, the port urges.

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