A significant portion of Scorpio Tankers and Scorpio Bulkers' fleet will be fitted with scrubbers in the coming years. The investment totals several hundred million dollars.
Gas carrier Flex LNG has raised over NOK 2 billion in a private share issue. The company, which is controlled by Norway's John Fredriksen, will use the money to finance new vessels.
Swedish Stena Bulk has entered a new partnership with Bay Crest Management in order to expand its tanker business in Asia with the new company GSB Tanker.
Who dares to challenge the US and continue to buy oil in Iran? Supertankers are already sailing around as ghost ships in order to dodge US monitoring.
One of the world's largest tanker shipping companies will tap the capital market to raise USD 300 million. A big part of the shares will be bought by Scorpio Bulkers. Analyst notes that the capital injection comes ahead of the 2020 regulations.
BW LPG Chief Executive Martin Ackermann still believes in consolidation in the gas tanker sector after the collapsed negotiations with Dorian. The latter's CEO denies having shut down the talks.
Mohammad Saeidi is the personification of Iranian shipping. Right now he has one, perhaps slim, hope left before the country is hit by renewed sanctions less than a month from now. Western shipping companies are leaving the country, and the question now is whether this will change.
After four months of courting, gas shipping company BW LPG has withdrawn its offer to buy competitor Dorian. A lost opportunity for shareholders and the sector, says BW Chairman Andreas Sohmen-Pao.
Stolt Nielsen's chemical tanker's operating result decreased in the third quarter of this year, where spot rates were kept down by too many vessels.
Maritime analyst firm Seaintel believes that container carriers' customers will have to cover the extra expenses when the global sulfur cap takes effect. No other party can, says Seaintel.
The first three months of the staggered fiscal year provided Cargill with growth on both the top and bottom line. The company highlights a new CO2 program in its shipping division.
Mats Berglund, CEO of dry bulk carrier Pacific Basin, joins the board of directors of Irish product tanker ship operator Ardmore Shipping. He is joined by another new board member.
The European Community Shipowners' Association wants the EU to add more yards to its list of approved sipbreakers. The latest comments follows shortly after two NGOs criticized shipowners for calling for more scrapping capacity.
State-owned Qatar Petroleum will increase its production of liquefied natural gas to more than 100 million barrels a year. Qatar thus emphasizes its focus on LNG as the fuel of the future, writes Wood Mackenzie.
Norwegian gas carrier IM Skaugen will probably be liquidated after it failed to settle a refinancing deal with Nordea. Morits Skaugen apologizes in a personal letter to shareholders and bondholders. Read the full affidavit from the Singapore High Court here.
BW Group has now officially entered the Hafnia Tankers board of directors after its acquisition of the Danish product tanker shipping company. Hafnia Tankers' CFO has also stepped down, while the work toward a merger with BW Tankers continues.
The Irish shipping company will install ballast water management systems on 18 chemical and tanker vessels. For the Norwegian supplier, this is "one of its biggest orders to date."
Shipowners and analysts project solid demand growth for product tanker ahead of the new global sulfur regulations in 2020. But many elements remain uncertain, and there is a lack of concrete data, renowned analyst tells ShippingWatch.
Next year will also be a tough year for many tanker ships, projects analyst firm McQuilling. A market recovery will take time and require patience, notes the firm.
The US's ambitions of becoming one of the world's largest LNG exporters are now being impacted by Chinese tariffs on the liquefied natural gas.
Deutsche Bank expects a significantly bigger surge in demand for product tanker with the IMO's upcoming 2020 sulfur regulations than the shipowners do themselves. The bank has described the sulfur cap as a potential game changer.
Professional consultant - CO-Sea
Account Manager - Port of Aarhus
Ocean agent - Expeditors
General Manager - On-site recovery, MAN Energy Solutions
