Major dividend payouts could be headed for stakeholders in Oslo-listed tanker shipping companies, projects broker Cleaves Securities. One shipping line stands to pay dividends to its shareholders in excess of half a billion US dollars next year.
BW Group has closed an accelerated sale of shares in its gas carrier BW LPG. The plans to sell 7 million shares were announced Monday afternoon, and the transaction closed Tuesday morning.
A number of South Korean shipping companies might band together to get their hands on major LNG transport orders coming from Qatar's large-scale LNG project, Yonhap writes.
A spokesperson from the Iranian government calls the missile attack on tanker vessel Sabiti last week "cowardly." The country's authorities will find a suitable reaction once the case is settled.
VLCC rates have climbed to USD 300,000 per day, the highest level in 15 years, analyst firm writes. The rates have increased massively over the past month, and the current situation is "not normal circumstances", according to the analysis.
Iran now says that missiles that hit one of its oil tankers in the Red Sea likely came from Saudi Arabia. This marks the latest escalation in a conflict between the two Middle Eastern nations that has roiled the oil market.
Iranian news agency ISNA and Reuters report that an Iranian tanker ship has burst into flames after being hit by an explosion off the coast of Jeddah in Saudi Arabia. The ship allegedly belongs to Iranian oil company National Petroleum Company.
When China and the US on Thursday begin the next round of negotiations in the ongoing trade dispute, China will ask the US to lift the sanctions on two of Cosco's subsidiaries. The US accuses them of having carried Iranian oil.
Ardmore Shipping has begun publishing details about its ships' CO2 emissions. The measuring will continue going forward, even though it is still "really early days" for the shipping sector's CO2 disclosures, CEO Anthony Gurnee tells ShippingWatch.
Oslo is an obvious place for a full listing of Hafnia, the product tanker operator's CEO Mikael Skov tells ShippingWatch. The plans for a potential listing come at a time when numerous stakeholders expect increasing rates.
After a period with soaring VLCC day rates from upward pressure on the tanker market due to uncertainty about US sanctions on Cosco subsidiary Dalian Tankers, oil traders are again booking Chinese vessels. Sources say these new charters are not going to push rates down anytime soon, though.
One third of Dalian Tankers' fleet have turned off their AIS systems after the company was struck by US sanctions.
Day rates for the large VLCC tankers have now surpassed USD 120,000 per day and stand at the highest level since 2015.
Product tanker carrier Hafnia pursues a listing on the Oslo Stock Exchange as the next strategic shift for the new major player. The company has hired two large banks as advisors.
US sanctions are a key driver boosting VLCC rates, writes shipbroker Clarksons Platou. The firm expects to see daily rates, which have now surpassed USD 100,000 per day, continue to rise.
Gas ships will likely play a bigger role in Navigare Capital Partners' new fund that recently received hundreds of millions of dollars in fresh funding. The ambition is to bring in more international investors, Managing Partner Henrik Ramskov tells ShippingWatch.
A Greek shipowner orchestrated a pirate attack on a tanker, which is why a number of insurance firms refuse to pay claims to the shipowner and a Greek bank, according to a verdict by the High Court of the UK.
South Korea now bans transport and piloting of dangerous cargoes in a number of terminals at major port Ulsan. This happens after two tanker ships caught fire in the port in late September.
The new pool collaboration between Maersk Tankers and commodity trader Cargill will contain up to 100 tanker vessels, which would render it the largest in the MR segment.
Stolt-Nielsen's stock is currently very attractive, assesses a Kepler Cheuvreux analyst who predicts a 90 percent increase by 2020. The optimism stems from confidence in rate increases on crude transports, which could spread to chemical tanker.
Tanker shipping company Stena Bulk enters a joint venture with manufacturer Proman, aimed at expanding the use of methanol as a marine fuel.
The Iranian tanker vessel formerly known as Grace 1 is now lying side-by-side with another Iranian tanker off Syria's coast, according to AP.
It is too early for Stolt-Nielsen to say what this weekend's explosion will cost the shipping company, according to its interim report, which shows an improved bottom line compared to the year prior.
Supertanker day rates could reach about USD 100,000 before New Year's, Norwegian shipping analyst predicts. He points to geopolitical unrest and sanctions against a Cosco subsidiary as the causes.
Freight rates for the VLCC tanker vessels have climbed to USD 65,000 per day following the news of US sanctions imposed on Dalian Tankers, a subsidiary of China's Cosco. It could take some time for clarity to emerge, says Euronav.
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