Crude tanker company DHT Holdings has employed two CEOs since 2010, but now, Trygve P. Munthe is retiring, making Svein Moxnes Marfjeld the sole chief executive going forward.
There’s no doubt that 2021 was a miserable year for the global tanker industry. But 2022 could end up strong, many parties say. Maersk Product Tankers is more doubtful. ”2022 won’t be an amazing year,” CEO Christian M. Ingerslev tells ShippingWatch.
Hafnia is in the process of acquiring 12 vessels from its largest rival, Scorpio Tankers, in a cash transaction estimated at USD 360m. It could prove difficult for Hafnia to finance such a large deal with the current stock prices, analyst tells ShippingWatch.
New gas shipping line Cool Company, a joint venture between Eastern Pacific and Golar LNG, will have a market value of USD 375m, the parties disclose in connection with a capital raise.
636 ships were sold for scrapping in 2021, an increase of 15 percent compared to the year before, reveal figures by VesselsValue. Tanker operators spearheaded demolitions.
Tanker operator Hafnia is in negotiations with Scorpio Tankers on buying 12 LR1 product tankers, the carrier confirms in a stock exchange notice Thursday.
It has long been discussed, and the chief executive of a competitor points to Maersk Tankers as a driver in the tanker sector's consolidation race. However, Maersk Tankers CEO Christian M. Ingerslev does not see much sense in combining balance sheets, he tells ShippingWatch.
Shipping groups NYK and Knutsen join forces in new joint venture to develop and operate fleet to transport liquefied CO2.
Number of crude and product tanker ships saw a net increase by 2.7 percent in 2021, as the largest number of tankers left the market since 2018, show numbers from shipbroker Simpson Spence Young.
It makes sense that carriers with fixed routes are the first to launch green, carbon-free ships. Carriers such as Torm will be hit by a lack of green energy, says Torm's chief executive to ShippingWatch.
By as early as 2025, Torm means to reduce carbon emissions from its operated tanker fleet by 40 percent, thereby moving forward its original target by five years. The tanker operator's end goal remains climate neutrality by 2050.
In a new Maersk Tankers strategy, CEO Christian Ingerslev aims to have 300 ships under commercial management in 2024. Since the current number is 220, ShippingWatch asks Ingerslev about the ambition level of the new target then.
The Wilhelmsen group's ship management company buys majority of German tanker line, taking over operation of five tankers as well.
Low capacity and rising demand may see the market for product tanker turn around this year, says shipping line Hafnia's CEO to Norwegian media Finansavisen. Clarksons Platou shares the carrier's optimism.
Shipowners commissioned more LNG-fuelled vessels in 2021 than the four previous years combined, writes DNV in an update.
With loans from three banks, Italian product tanker operator d'Amico International Shipping has secured financing for the next five years, among other things through a sustainability-linked loan.
European natural gas prices continue to fall on the outlook to increased supply from the US, which keeps sending ships carrying the commodity across the Atlantic, reports Bloomberg News.
Although demand for oil has nothing but grown for 45 years, tanker operators are still overestimating their market. Time and again, they have built excessively in anticipation of a golden age, says departing Concordia Maritime CEO Kim Ullman in an interview with ShippingWatch.
An IPO of chemical tanker carrier Stolt Tankers could be on the table for 2022, says Stolt-Nielsen CEO Niels G. Stolt-Nielsen to Norwegian media Dagens Næringsliv.
The comeback of the global economy and the shortage of energy have pulled the price of second-hand tankers for crude oil and LNG out of last year’s doldrums, according to Vesselsvalue.
Maersk Tankers and BP have run trials of using biofuel-blended fuel in two product tankers.
Jebsen Group's tanker operator joins forces with equity fund Hayfin Capital Management to operate ten product tankers in a joint venture, writes media. More vessels might be added.
In the wake of tanker operator Hafnia's acquisition of Chemical Tankers, two representatives of major shareholder Oaktree are appointed members of Hafnia's board.
Dee4 Capital Partners, headed by former CEO of Norden and BW Group Carsten Mortensen, expands its fleet of product tankers, with Mortensen "optimistic" about the tanker market in 2022, he tells ShippingWatch.
European benchmark crude Brent surges to a seven-year high on heightened demand and amid concerns spurred by an alleged drone strike on the United Arab Emirates.
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