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The lonely drifting oil tanker that signals OPEC's struggle

Tanker:

Tanker vessel Saiq is floating idly at sea, south of the Canary Islands, in search of a customer for its oil cargo, and the vessel seems emblematic of a broader trend in the physical oil market.


BY LAURA HURST & JAVIER BLAS, BLOOMBERG
Published 14.06.17 at 09:52

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Most read Tanker

This man will steer Maersk Tankers through the divorce

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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.

Torm and Hafnia are candidates in major merger wave

Tanker:

A group of 5 to 10 carriers could be swept up in the consolidation wave which has begun among dominant and equity fund-owned carriers in the product tanker sector, sources tell ShippingWatch.

Bugbee calls on competitors to join forces

Tanker:

Not long ago, observers had little interest in Robert Bugbee as the Scorpio project looked set to fail. Now he is the man who has done what everyone is talking about in product tanker, and in an interview with ShippingWatch he calls on competitors to follow his lead.

New tanker behemoth is a guidepost in consolidation wave

Tanker:

The idea that bigger companies enjoy increased interest from major investors will now be put to the test in the wake of the merger between Navig8 and Scorpio Tankers, says Mikael Skov, CEO of Hafnia Tankers, who has IPO plans of his own.

Stolt-Nielsen weighs spin-off of chemical tanker business

Tanker:

Following the acquisition of Jo Tankers, Stolt-Nielsen is now thinking about separating Stolt Tankers as an independent company in a move that could pave the way for more acquisitions, CEO Niels G. Stolt-Nielsen tells newspaper Finansavisen.

Bertram Rickmers could lose his entire empire

Tanker:

A financial restructuring of Rickmers Group could mean that Bertram Rickmers loses his entire stake in the storied German shipping group. One of the biggest symbols of German shipping's power is about to fall.

Current front page

MPC Container Ships could reach 50 vessels this year

BCO_quer_Print12.jpg Container:

Newly-established container carrier MPC Container Ships plans to have 35 to 50 feeder vessels within a year. "This would be a good starting point for us," the CEO of the Oslo-based company tells ShippingWatch.

Norway's new major carrier dubbed a "risky venture"

Offshore:

Two of Norway's biggest figures in shipping, Kjell Inge Røkke and John Fredriksen, are behind Norway's new offshore carrier Solstad Farstad which will become the country's largest carrier. "It's a tough market out there," CEO Lars Peder Solstad tells ShippingWatch.

Dry bulk terminals fail test of high-risk cargoes

Bulk:

The current methods for testing whether a dangerous cargo is at risk of liquefaction during sailing are inadequate and should be changed, says the Association of Bulk Terminal Operators, citing various samples of cargoes which have become liquefied despite passing tests.

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Offshore:

OPEC has few remaining tools left to boost prices, after investors seem unmoved by the decision to prolong supply cuts.

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Offshore:

The EU list of yards which are allowed to dismantle European vessels has led to greater interest in Spanish shipbreaker DDR Vessels, says CEO. However, there are still many carriers trying to circumvent the rules.

This week's top stories on ShippingWatch

Carriers:

APM Terminals lays off 160 in Gothenburg in a move to end the protracted port labor conflift. Shipowners look to postpone the ballast water convention by two years. Shippers worry about a shortage of reefer containers. Oil is headed for USD 40. Here are this weeks top picks.

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