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Consolidation wave could be in store for product tanker

Tanker:

There will be more mergers, acquisitions, and general consolidation in the product tanker market within the next 12-24 months, Hafnia Tankers and Jyske Bank tell ShippingWatch. Torm Executive Director Jacob Meldgaard is also open to the idea.


BY SØREN PICO
Published 18.05.17 at 12:52

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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.

Concordia CEO welcomes tough tanker year

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Concordia Maritime's CEO is confident that his carrier is well padded for a challenging year in product tanker. And the Swedish carrier is watching the second-hand market, he says.

Consolidation wave could be in store for product tanker

Tanker:

There will be more mergers, acquisitions, and general consolidation in the product tanker market within the next 12-24 months, Hafnia Tankers and Jyske Bank tell ShippingWatch. Torm Executive Director Jacob Meldgaard is also open to the idea.

Maersk Supply Service will postpone vessel deliveries

Tanker:

The downturn in the offshore market means that Maersk Supply Service is attempting to delay the delivery of the nine vessels ordered by the carrier. But several ships will hit the water this year, says CEO Steen S. Karstensen to ShippingWatch.

Hafnia Tankers made USD 6 million in Q1

Tanker:

The tanker carrier anticipated higher earnings in the first quarter of the year. But a large number of newbuildings and a lack of fluctuations in the oil price resulted in a lower profit for Hafnia Tankers.

Torm is open to consolidation in product tanker

Tanker:

Tanker carrier Torm is positive when it comes to a consolidation of the product tanker market. Bigger carriers will be more interesting to banks and investors, Executive Director Jacob Meldgaard tells ShippingWatch.

Current front page

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.

Norway to accelerate oil drillings in the Barents Sea

Offshore:

Norway's minister for petroleum and energy wants to facilitate new drillings in the Barents Sea as soon as possible to make sure that Norway does not lag behind in the Arctic race against Russia.

Iraq paves way for OPEC deal with support for 9-month extension to cuts

Offshore:

One of the last remaining obstacles to forming a deal at the OPEC meeting in Vienna this week has been removed. Now Iraq will back a Russian and Saudi Arabian proposal to extend oil output cuts for 9 months.

Concordia CEO welcomes tough tanker year

Tanker:

Concordia Maritime's CEO is confident that his carrier is well padded for a challenging year in product tanker. And the Swedish carrier is watching the second-hand market, he says.

Seadrill's market value has plunged big-time in 2017

Offshore:

The share price of John Fredriksen's drilling company Seadrill has declined drastically since the turn of the year. Ahead of the interim report set for release Wednesday morning, analysts note that the company has been unable to settle its announced restructuring.

Lightship returned to profit in 2016

Services:

Shipbroker Lightship delivered a profit for 2016 and thus eradicated its deficit from 2016. The company anticipates an even better 2017.

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