The third quarter looks set to be more difficult for Norway's Stolt-Nielsen, which has implemented several measures aimed at cutting costs, and the company has also just bolstered its liquidity by issuing bonds.
Evergas books a USD 2.2 million profit for 2019 after being in the red for several years. The company expects to multiply its result this year following the sale if its loss-making ethylene fleet.
Selfinvest, the parent company of United Shipping & Trading Co., USTC, delivers a record result for 2019/2020 with a profit of DKK 1 billion before taxes. Prospects for the coming year are more uncertain.
Chemical tanker operator Navig8 reported a smaller deficit in 2019, according to its annual report. The result is not satisfactory, CEO Jens Grønning tells ShippingWatch.
The Trump administration plans to add another 50 tanker vessels to its sanction list, writes Bloomberg.
Bunker Holding books a pre-tax profit of USD 155.2 million, which is the best result for the group ever. Group CEO Keld R. Demant is proud of the result.
More than half of the crew aboard tanker vessel Minerva Oceania have tested positive for covid-19. The ship has now been quarantined in the Port of Antwerp until Saturday.
Singapore-based BW Group is open to selling its remaining shares in tanker operator DHT Holdings after the group has continually been divesting its shares in the shipping line since the fall.
An Argentinian energy company has declared force majeure on a contract that contributed more than a third of Exmar's operating profit in the first quarter. Exmar is now exploring its legal options.
A ship owned by tanker operator DHT Holdings was so delayed that the customer has torn up the time-charter contract. On the other hand, DHT can be pleased with a new two-year contract with an oil company.
USTC-owned product tanker operator Uni-Tankers delivers a significantly improved result for the year 2019/2020 compared to the year before. The shipping company is considering investing in new ships that pollute less.
Several banks and an oil company have made claims on Hin Leong's oil cargoes, reports Reuters. There are doubts about the ownership, as Hin Leong has been seeking financing for cargoes that did not exist.
Fear of sanctions mean that tanker ships carrying millions of tons of Venezuelan oil are unable to find buyers for their cargo, reports Reuters.
The alleged fraud at Singapore-based Hin Leong Trading has definitively killed off the oil trading company, which is seen as having no possibilities of an independent future, according to an accountant report, writes Reuters.
Maersk Tankers' new digital venture aims to increase the number of ships using its product to save fuel and reduce carbon emissions many-fold already this year, CEO Søren Meyer tells ShippingWatch.
After a successful attempt with bio fuel, Stena Bulk will make it possible for its customers to buy greener freight.
Hafnia describes Norden's new partnership with Diamond S as an important step in consolidating the product tanker market. Hafnia also says the company is headed into a new market segment in a partnership with an unnamed player.
Developments in recent days have shown that Maersk Tankers is not alone in looking to add ships to its pools. Even though Norden bagged its partnership with Diamond S, the ambition remains intact, CEO Christian M. Inglerslev tells ShippingWatch.
Two tankers have been blacklisted by the US, which accuses them of participating in a Mexican setup that has exported Venezuelan oil.
Scorpio Tankers has presented preliminary numbers for the second quarter, which indicate another strong quarter for the tanker shipping company. But the level will go down in the coming quarter.
New technology and digitalization in shipping are often used incorrectly or end up being a stress factor for officers, a new report from Danish university Aarhus University concludes based on data from eight vessels. At worst, it may lead to accidents.
The new deal between Norden and Diamond S Shipping makes Norden's tanker pool one of the biggest in the market. Analyst notes that Norden has generally operated its vessels better than Diamond S.
Several Danish product tanker ship operators as well as one in London were vying for a tender from Diamond S for a strategic partnership for 28 MR ships, ShippingWatch has learned. Norden considers the victory a result of a previous arrangement with Diamond S and eyes big prospects.
Norden and Diamond S form a strategic partnership that, according to the companies, will help to consolidate the product tanker sector.
The upswing in the first half of 2020 has been so strong that Maersk Tankers CEO Christian M. Ingerslev is confident in a better result for the entire year compared to 2019. However, the market will decline before long, he tells ShippingWatch in an interview.
Business Analyst for International Shipping Company - Lauritzen Kosan
Tanker Operator – Aalborg - Uni-Tankers 
Vice-President, Chartering - Fednav
Technical Superintendent to UltraShip 
Operator, Dubai - PSTV
