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ShippingWatchSaturday28 January 2023

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Foto: PR/Sovcomflot

Income for ice class tankers has surged by 1,644 percent following sanctions

Purchase and sale of ice class tankers have more than doubled, and ship earnings have increased by an astounding 1,644 percent. Sanctions against Russia could be an explanation, according to VesselsValue.
  • EU considers capping Russian fuel prices at USD 100 a barrel
  • Ship trading increases on heated tanker market

For subscribers

Foto: Ints Kalnins/Reuters/Ritzau Scanpix/REUTERS / X02120

Fredriksen now owns nearly as many Euronav shares as the Saverys family

For subscribers

Axel C. Eitzen and Eitzen Group acquire the majority stake of a Norwegian supplier of automation and energy systems for shipping. | Foto: PR

Eitzen Group buys Norwegian marine tech company

For subscribers

Foto: Höegh Lng

Norwegian carrier lands another large gas deal with Germany

For subscribers

Foto: Edgar Su/Reuters/Ritzau Scanpix

Singapore jails former CFO 20 years for defrauding over dozen banks

Foto: PR-FOTO

Accident board blames faulty safety measures aboard Norden tanker for fatal incident

For subscribers

  • Foto: DHT Holdings

    Tanker carrier secures major credit facility with several Nordic banks

    Danish Ship Finance and Nordea among banks securing credit facility for tanker operator DHT Holdings.

    For subscribers

  • Foto: Carsten Lundager / Torm

    Torm changes tactics committing to a USD 233m purchase spree

    Two months ago, Torm chief exec Jacob Meldgaard claimed not to busy himself with ”planting new seeds” in spite of a booming tanker market with skyrocketing rates and record earnings. Now, however, Torm is buying up.

    For subscribers

  • Foto: Pr/hafnia

    Major US investor divests half of Hafnia stake

    A US private equity firm has made a large divestment of its Hafnia shares, withdrawing from the tanker operator’s board as well.

    For subscribers

  • Foto: Yoruk Isik/Reuters/Ritzau Scanpix/REUTERS / X06504

    Ship trading increases on heated tanker market

    The tanker market upswing has not only increased carrier earnings but also caused trading with tankers to surge by double-digit percentages. Maersk Broker recognizes the development.

    For subscribers

  • Foto: DHT Holdings

    Analyst firm expects higher prices for tankers in upcoming years

    Clarksons predicts increasing rates and values in the VLCC market until the end of 2024, with a low order book being a particular promoter of developments.

    For subscribers

  • Foto: Kim Dong-Min/AP/Ritzau Scanpix/AP

    Korean yard to build two gas tankers for almost USD 200m

    Major South Korean shipbuilder KSOE adds two LPG vessels to its order book at a total value of close to USD 200m.

    For subscribers

  • Foto: Thun Tankers

    Swedish shipping group contracts eight new vessels at European yard

    Swedish Erik Thun Group adds eight new dry bulk and tanker vessels to its orderbook. Ships are to be built in the Netherlands and set for delivery from October next year.

    For subscribers

  • Foto: Pr / Euronav

    Euronav files for emergency arbitration to halt Frontline merger exit

    Euronav has filed for an ”emergency arbitration” in relation to Frontline’s ”unilateral” actions in pursuing termination of a merger between the two crude oil tanker carriers. Frontline denies all claims.

    For subscribers

  • Foto: CMB

    Saverys wants to send Euronav board packing following scuttled merger

    The entire board of Euronav should be dismissed following the terminated Frontline merger, the Saverys family believes.

    For subscribers

  • Foto: Ritzau Scanpix/Ints Kalnins

    Fredriksen continues upping Euronav stake following scuttled merger

    John Fredriksen buys into Euronav in the week following the termination of merger plans between Frontline and the Belgian carrier.

    For subscribers

  • Foto: PR/Scorpio Tankers

    Scorpio Tankers sees higher rates so far in 2023

    The tanker operator has secured markedly higher rates in the beginning of 2023 compared to levels from preceding quarter.

    For subscribers

  • Foto: PR / Euronav

    Euronav threatens lawsuit following Frontline's scuttled merger

    Belgian crude oil tanker Euronav threatens to sue Frontline following the John Fredriksen-owned carrier’s decision to ”unilaterally” abandon merger plans between the two shipping companies. Frontline denies all claims.

    For subscribers

  • Foto: Ints Kalnins/Reuters/Ritzau Scanpix

    Frontline could pursue Euronav ships following botched merger attempt

    It might prove profitable for John Fredriksen-owned Frontline to acquire Euronav’s oil tankers, says Pareto chief analyst to Finansavisen in the wake of terminated merger schemes.

    For subscribers

  • Alexander Saverys, chief executive of CMB. | Foto: CMB / PR

    Saverys wants changes to Euronav after failed merger

    According to Euronav’s largest shareholder, the Belgian Saverys family, the failed fusion with Frontline calls for debate over the company’s future strategy as well as the composition of the board.

    For subscribers

  • Hugo de Stoop, CEO of Euronav (left), needs to pick up the pieces following terminated Frontline merger. Frontline CEO Lars H. Barstad will carry on as chief exec. | Foto: Euronav / Frontline

    Euronav takes severe stock market beating following scrapped Frontline merger

    Investors offload Euronav shares following reneging of heavily disputed merger with rival Frontline. Explanations are clear, says analyst.

    For subscribers

  • Foto: Dorian LPG / PR

    Dorian LPG enters new partner agreement with Mærsk Center for Zero Carbon

    Gas carrier Dorian LPG commits to future partnership with Copenhagen-based Mærsk Mc-Kinney Møller Center for Zero Carbon in joint decarbonization strides.

    For subscribers

  • John Fredriksen abandons plans of merging tanker majors Frontline and Euronav. | Foto: Ints Kalnins/Reuters/Ritzau Scanpix

    Frontline and John Fredriksen give up tanker fusion with Euronav

    Fierce resistance from Belgian shipping family Saverys has blocked John Fredriksen and tanker operator Frontline’s plans of merging with competitor Euronav.

    For subscribers

  • LNG tanker Grand Aniva arrives from Russia to Futsu in Japan. The ship is not part of MOL. | Foto: Tsuyosi Matsumoto/AP/Ritzau Scanpix

    MOL to continue transporting gas from Russia

    The Japanese shipping company will keep on carrying Russian natural gas, says CEO in New Year’s speech.

    For subscribers

  • Foto: David Butler / Marine Money

    Scorpio Tankers lands new credit facility

    The tanker operator continues refinancing debt. Company CEO has furthermore purchased call options for USD 4.4m.

    For subscribers

  • Tanker vessels at a Sinopec export terminal in central China. | Foto: China Stringer Network/Reuters/Ritzau Scanpix

    Raised Chinese oil quotas bode well for product tanker

    China raises quotas for refined oil products significantly compared to the start of 2022, following slow domestic demand, consultancies state to Reuters. That is all good news for tanker carriers.

    For subscribers

Latest news

  • Blue Water founder promises future "focus on profitable growth" – 27 Jan
  • Borr Drilling raises USD 400m to pay off debt – 27 Jan
  • Income for ice class tankers has surged by 1,644 percent following sanctions – 27 Jan
  • Floating power station to provide energy for one million Ukrainians – 27 Jan
  • Maersk rebrands Hamburg Süd and several other well-known subsidiaries – 27 Jan
  • Car carriers have rarely seen such profits: "We are probably at an all-time high" – 27 Jan
  • Fredriksen now owns nearly as many Euronav shares as the Saverys family – 27 Jan
  • EU considers capping Russian fuel prices at USD 100 a barrel – 27 Jan
  • New partnership to investigate potential human rights abuse at sea – 27 Jan
  • Singaporean competition authorities to probe DSME sale – 27 Jan
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