New tanker vessels cost more despite low orderbook

The demand for newbuilds, particularly in the container segment, has pushed up the price for new vessels. The same goes for tanker vessels, although the pressured market has led to fewer orders, writes Gibson.

Exmar reports growth after sale of vessels

In the first half of the year, tanker company Exmar saw higher rates in the MGC segment in particular, while the company entered sale agreements for multiple vessels. This helped boost the results in the first six months of 2021. The carrier has also appointed a new CFO.

Nordic American Tankers open to fleet expansion

Nordic American Tankers booked a significant deficit in the second quarter as a result of the weak tanker market. After having reduced the number of vessels, Herbjørn Hannson's tanker operator is now open to expanding its fleet by purchasing second-hand ships.

Hafnia suffers loss for the third consecutive quarter

Like many other product tanker operators, Hafnia is under pressure as a result of a weak oil market. For the third quarter running, the company sees red figures on the bottom line. Hafnia's CEO is seeing signs of a recovery.

Tax provision drags Höegh LNG further into the red

Both Höegh LNG and Awilco LNG raised their top linesi n the second quarter of 2021 compared to last year. Nevertheless, Höegh LNG still booked a deficit on the bottom line, which was dragged further down by a tax provision.

Frontline enters the red in dismal tanker market

Tanker carrier Frontline takes a dive into the red in the second quarter in a tanker market where a considerable proportion of the fleet is sailing at negative rates. "This is not sustainable," notes CEO Lars H. Barstad in the financial report.

Trial banner

Latest news

See all jobs