Belgian tanker carrier Exmar booked a deficit for the first half of the year, a period in which the carrier's LNG activities in particular had a negative impact, while LPG and offshore also caused problems.
The LPG market is facing a period of slower growth ahead of 2019, a period in which China will replace Japan and South Korea as the main driving force in the market, notes DVB Research in a new analysis.
Gas carrier Exmar went red in the first quarter in the weak LPG market where too many vessels are undermining an otherwise historically strong US gas export. The carrier has also called off negotiations to acquire a Dutch FSRU fleet.
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.
Tankrederiet Exmar fik en lavere omsætning i 2016, hvor bundlinjen dog røg i vejret efter en række engangsindtægter for blandt andet aflyste kontrakter. Et svagt produktmarked kombineret med mange nye skibe vil gøre 2017 svært.
Belgian LNG carrier Exmar closed the first half of 2016 with a stronger bottom line and operational gains in a market where the company's long-term contracts provide protection from otherwise major fluctuations. Exmar is also in talks with a Dutch company for a sale of the FLNG business.
A planned merger between the John Frederiksen-owned carrier Flex LNG and Belgian shipping group Exmar has been called off as the carriers were unexpectedly not able to reach an agreement. The Flex LNG share price plummets.
Belgian LNG and offshore carrier Exmar saw its bottom line plummet by more than 50 percent the first half year of 2015. One key factor is a weak LNG market, explains the company, which recently signed a major cooperation agreement with John Fredriksen.
Det belgiske LNG- og offshorerederi fik mere end halveret bundlinjen i første halvår i år. Et svagt LNG-marked er en del af forklaringen, skriver rederiet, der har indgået en stor samarbejdsaftale med John Fredriksen.
Belgian Exmar, which operates in both gas and offshore, experienced a decline in the first quarter, though the major gas vessels delivered significantly increased earnings in the period, according to the carrier.