Dryships delisted by founder
Greek Dryships Founder and CEO George Economou has bought the remaining shares of the company, taking the company off the New York Stock Exchange.
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Greek Dryships Founder and CEO George Economou has bought the remaining shares of the company, taking the company off the New York Stock Exchange.
The first half of 2019 was a cold shower for most of the LNG market, says Flex LNG's chief executive in connection with the gas carrier's presentation of yet another deficit. However, he believes improvement might be just around the corner.
Maritime investment fund Dee4 Capital Partners, led by Carsten Mortensen, takes delivery of its first two product tankers. The fund previously informed that it has entered agreements on three vessels in total.
Nordic American Tankers' red figures on the bottom line diminished in the second quarter of 2019 compared to the year prior, shows the company's most recent interim report. Nordic American Tankers experienced significantly higher rates in 2019.
Product tanker rates remain low in the second half of the year, and if this trend continues, Torm will end up booking a deficit for the third quarter. CEO Jacob Meldgaard is positive, however, about the remainder of the year, in which several factors are expected to boost the sector.
Sweden's Concordia Maritime felt the effects of a weaker product tanker market in the second quarter, which triggered a combined deficit for the first half of the year. However, CEO believes in a "turnaround" in the fall.
The Iranian tanker vessel Grace 1 has been released by UK authorities in Gibraltar, where it had been held since early July. US authorities filed last-ditch request to seize the tanker.
While several competitors finished the second quarter with deficits, Torm is able to report a positive bottom line. The tanker company has just entered leaseback agreements for six vessels.
Chemical tanker operator Team Tankers' second quarter report shows lower rates, retreating revenue and a net deficit twice as deep as in the first quarter, with ship sales weighing down the bottom line.
Epic Gas, of which BW Group became majority shareholder earlier this year, booked a deficit in the latest quarter, according to interim report.
An Iranian news agency reports that the country expects tanker ship Grace 1, recently seized by the UK, to be released soon. Gilbraltar's Supreme Court is to hold a hearing on Thursday.
Dry bulk and product tanker ship operator Norden now downgrades the guidance for its dry bulk operator business. But stronger developments in tanker mean that the shipping company maintains its full-year expectations.
Gas carrier Navigator Holdings doubled its deficit despite stable revenue in the second quarter. And the shipping company has appointed a new CEO as of late August.
LPG rates have increased significantly in the past year, and the same applies to exports out of the US. This makes gas ship operator Dorian project a surge in US exports, which surpass the volumes coming out of the Middle East.
Belgium's Euronav reports a double-digit million-dollar deficit for the second quarter. According to the shipping company, the upcoming sulfur regulations in particular factor in. But the tanker shipping company remains confident that a recovery will emerge toward the end of the year.
Tanker company Diamond S finished the second quarter with a new deficit. However, this does not dampen the operator's expectations of an approaching tanker recovery.
Gas ship operator Dorian doubled its revenue in the latest quarter due to a 79.2 percent rate increase in LPG and fleet utilization that almost hit the highest level.
Bermuda-based DHT Holdings was not able to maintain its positive bottom line for long. After two profitable quarters, the company is back in the red. The deficit is smaller than at the same time last year, however.
Management at Stena Bulk now sharpens its rhetoric to the Iranian authorities, which 19 days ago detained ship Stena Impero and its crew. A Finnish representative has now been on a visit on board the vessel.
German bank NordLB reacts to allegations of fuel tankers breaching US sanctions against Iran, seeking to seize the vessels in question.
Tanker company Torm's vice president of sales and purchases has left the company, Torm confirms to ShippingWatch. The VP allegedly left for a competing tanker company.
The ongoing conflict in the Strait of Hormuz has made The Swedish Club double its premium for sailing and docking in the area near the Persian Gulf. However, it is not the general trend that insurance premiums are raised due to tensions in the region.
Crude oil carrier Teekay Tankers books a deficit for this year's second quarter, shows the company's interim report.
The deficit grew at Ardmore Shipping in the second quarter, when rates were allegedly kept down by refineries undergoing preparations for the IMO sulfur cap. The product tanker shipping company expects significant improvements going forward.
After having finally achieved a positive bottom line in the first quarter, Scorpio Tankers is back in the red with a deficit in the second quarter. The market experienced headwinds, says the company.
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