Swedish tanker shipping company Stena Bulk sets out five targets aimed at making the company climate neutral by 2050. Next year, Stena Bulk will launch its first vessel capable of running on methanol.
The start to 2021 proved challenging for Stolt-Nielsen's chemical tanker carrier, Stolt Tankers. According to chief executive, rates and earnings were strained due to product tanker carriers bidding on chemical tanker cargoes. Most recently, the Suez Canal blockage has caused delays.
With the purchase of four new vessels, bulk carrier Oldendorff now has a total fleet of 750 vessels.
Reports of increasing oil production from OPEC+ bring good news to tanker companies, estimates Clarksons. After a difficult 2021, the broker expects to see significantly higher tanker rates towards the end of the year.
International Seaways and Diamond S have agreed on a merger that will create the second largest tanker company in the US after Scorpio Tankers, with a market value of USD 2 billion and a fleet of 100 vessels.
The Höegh family and funds controlled by Morgan Stanley received enough votes at the general meeting to buy all stocks and now delists the company from stock exchange.
OK Lim, the founder of scandal-ridden Hin Leong group in Singapore, can now be met with a further 23 charges of forgery. The charges are expected to be processed in April, writes media.
Listed tanker company Diamond S Shipping, which has a large tanker pool collaboration with Norden, is about to be taken over by competitor International Seaways, reports Tradewinds.
Shipowner Celsius Shipping buys two new MR tankers currently under construction in China, confirms Chairman Jeppe Jensen to ShippingWatch. The ships are expected delivered this summer.
After a dreadful start to 2021, the product tanker market is now bottoming out, if you ask Paolo d'Amico, Executive Chairman of the Italien d'Amico Group. Two aspects will be vital for the recovery of the struggling market, he tells ShippingWatch.
Klaus Nyborg, chair of Norden, acknowledges that the company's instructions to keep fake logbooks for trips to Israel were inappropriate. Dominant shareholder Motortramp will not comment on the matter to ShippingWatch.
In the wake of ShippingWatch's exposure of Norden's fake logbooks, the Danish Maritime Authority now investigates the matter. Violations of the Maritime Act may result in fines.
Tanker carrier Hafnia lands a new large loan, which is tied to the company reaching a number of climate goals. The loan has been entered with a syndicate of ten banks and is the first green loan for Hafnia.
Shipping company Norden now expects a significantly better result for 2021 than previously announced. In particular, business unit Dry Operator is expected to benefit from a stronger dry bulk market, writes the company Tuesday.
Sea Cargo Charter has appointed 13 new members of its steering committee. Jan Dieleman from Cargill Ocean Transportation takes the chair.
State-owned Qatar Petroleum invites shipowners to bid on long-term charter contracts for more than 100 LNG ships, which the company will use to sail liquefied petroleum gas in coming years.
For years, tanker company Norden has instructed captains to write fake logbooks and paint over ship names in order to keep trips to Israel a secret. The activities were "wrong and unacceptable", the company states.
Oil giant Saudi Aramco is regarded as the world's most profitable company, and despite its new annual report showing almost halved earnings, the outfit keeps its title.
Gas carrier Navigator Holdings, which holds the world's biggest fleet of handysizes, booked its third consecutive quarterly profit in the fourth quarter, and yet the company's full year result ended in a deficit of USD 0.4 million. BW Group bought a 39 percent stake in the carrier in December.
Yard group Korea Shipbuilding & Offshore Engineering books orders totaling ten LPG vessels from various companies. The orders have a total value of more than USD 700 million.
Tanker company Ardmore and two partners will establish a joint venture to supply hydrogen to the maritime sector. As part of the agreement, Ardmore will receive USD 40 million from one of the partners.
The start of 2021 saw a lull in the scrapping of tankers despite record low earnings for ships and the highest scrap prices in almost two years. Only six tankers have left the market since New Year, writes Simpson Spence Young.
Dee4 Capital Partners, led by former Norden and BW Group CEO Carsten Mortensen, has ordered three product tankers from a South Korean shipyard with a new joint venture partner. In total, the order amounts to USD 175 million.
Supertanker spot rates have, rather unusually, turned negative, and Euronav expects more ships to be taken out of the market, the carrier informs ShippingWatch. Recovery on the heels of Covid-19 has yet to materialize.
Both LNG and LPG rates have now dropped below breakeven after both segments saw extremely strong earnings levels at the start of the year, writes Finansavisen.
Sales Lead with Operator / Bunker experience - Bunker Metric