Read all the latest news about Crude tanker. ShippingWatch gives you independent, credible, critical and fair news.

Two VLCC players keep the order book hot and buy old ships

One is buying up 16-year-old ships. The other has an order book with upwards of ten newbuilds. ShippingWatch has spoken to two of the new players betting on the VLCC market at a time when the sector is crying for scrapping with a slowdown in ordering.

European refineries first in line for US shale boom

The US is on its way to becoming the biggest oil nation in the world in 2023, but the country's refineries do not have the capacity to handle the many new barrels of oil. Europe in particular could become a major buyer of US shale oil, says Wood Mackenzie.

Stena Bulk CEO: 2018 is a lost year for crude oil

"Let's just skip to 2019," says Stena Bulk CEO Erik Hånell about the coming year for the crude oil market. 2018 will be a year in which to take strong positions, he says in an interview with ShippingWatch.

Lower rates drag down DHT's results in Q2

Norwegian tanker carrier DHT took hits on the top and bottom lines in the second quarter this year due to lower rates during a period in which the carrier's fleet grew significantly following the acquisition of BW Group's fleet of VLCC supertankers.

JP Morgan: Crude oil could bottom out in two years

An imminent improvement for the crude oil segment will be short-lived, projects JP Morgan. A large number of orders weighs down and will send the market toward the bottom by 2020 at the latest, notes the bank.

Teekay Tankers sees earnings slide

The OPEC deal to reduce oil output along with refinery maintenance and towering fleet growth resulted in lower earnings at Teekay Tankers. The Bermuda-based carrier expects a challenging 2017.

Drewry: Scrapping could kick-start tanker recovery

A massive orderbook packed with new crude oil tankers set for delivery in 2017 means that overcapacity will continue to strain the sector. The large vessel influx will be replaced next year by weak demand, and the scrapping of vessels is thus crucial to the prospects of a tanker market recovery, writes Drewry.

DHT Holdings buys 11 VLCCs from BW Group

DHT Holdings is set to buy BW Group's fleet of 11 VLCCs including two newbuildings set for delivery next year, inform the parties Thursday. The transaction will make BW Group a major shareholder in DHT Holdings.

Euronav: Environmental regulations will remove tankers from the fleet

2017 could be a challenge to the tanker vessels transporting crude oil. But on the short and medium term, Euronav's CEO projects that a steadily increasing oil consumption across the globe combined with the new environmental requirements will make supertankers a sound business.

Frontline puzzled by rejection from DHT

Crude oil carrier Frontline, part of John Fredriksen's shipping and oil business, has a hard time understanding that the carrier's attempts to take over competitor DHT were rejected. The carrier expects strained tanker rates in 2017.

JP Morgan believes in improved shipping markets after 2018

J.P. Morgan has taken a closer look at the prospects for all shipping segments, and the investment bank points to the winners and losers among the shares. ShippingWatch presents a brief summary of the bank's predictions for container, dry bulk, tanker, and gas.

Tanker CEOs look with pessimism at 2017

The fourth quarter 2016 did not end well. This is the concurrent assessment from the head honchos of tanker; CEO of Euronav, Paddy Rodgers, and CEO of Torm, Jacob Meldgaard. And 2017 looks set to be weighed down by the many new vessels entering the fleet.

Euronav pads its coffers with VLCC deal

Belgian tanker carrier Euronav has signed a deal with investment companies to sell and lease back four VLCC supertankers. The transaction gives the carrier more than USD 100 million in free cash.

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