Equinor projects that oil field Johan Sverdrup can produce more oil faster than expected. Expectations for peak levels in both phases one and two have been raised.
The CEO of the Swedish tanker carrier Stena Bulk, Erik Hånell, is responsible for seven offices and several hundred employees across the globe, all affected by the coronavirus outbreak. Many work from home or in shifts. Hånell worries the most about the times to come after corona.
Nordic Shipholding is currently negotiating with another tanker shipping line as to a potential merger. The negotiations have been ongoing since late last year, and the plan is to create a new player based in Copenhagen.
Maersk Product Tankers, which operates more than 80 vessels on behalf of Maersk Tankers, turned red figures on the bottom line into a pre-tax profit of USD 91 million in 2019.
Frontline's chief exec believes that the company can make a profit of more than USD 1 billion after taxes in 2020. "The prospects are historically strong," he tells Dagens Næringsliv.
Two Chinese shipping companies have been hit by US sanctions as part of the White House's attempts to impact Iranian oil production.
As many as 20 ships in BW LPG's fleet could be sailing on liquefied petroleum gas in the coming years, CEO Anders Onarheim tells ShippingWatch. The consequences of coronavirus are unknown.
Oil outfits see a huge surge in tanker rates as fleet utilization approaches 100 percent, with analysts saying the market could "go higher" in the short run.
Chemical tanker carrier Team Tankers establishes a joint venture by acquiring 30 percent of V.Group's Dania Ship Management, at the same time entering a strategic partnership with Maersk Tankers.
Major gas shipping company BW LPG has found its new permanent CEO after Martin Ackermann opted to step down at the end of last year.
Asian oil refiners target smaller vessels to carry their crude oil after a Saudi Arabian booking spree has made VLCC rates skyrocket.
Stolt-Nielsen, which covers a large fleet of chemical tanker vessels, has called off dividend payments for 2019 to its shareholders. The decision is attributed to the coronavirus outbreak.
In the midst of the global coronavirus crisis and an oil price war between Russia and Saudi Arabia, tanker vessels emerge as the big winners. Rates continue to soar, and this time the recovery appears more sustainable, says analyst.
Frontline can now close the deal on buying ten vessels from Trafigura that the two parties agreed to last year.
The CEO of Italian product tanker carrier d'Amico International Shipping, Paolo d'Amico, is highly optimistic about 2020 despite the uncertainty generated by the coronavirus outbreak. 2019 ended in another deficit.
Coronavirus and a dispute over the oil price between Saudi Arabia and Russia triggered significant price drops on stock exchanges in the past week. Danish and Norwegian shipping and offshore shares also took a tumble. But one sector in particular saw share prices going up.
Sovcomflot boosted both top and bottom lines markedly in 2019. The Russian tanker operator says its financial results are closely tied to bank credit enabling fleet expansion.
Spot rates for tanker vessels soar yet again due to the current geopolitical unrest. The sudden plunge in the oil price has significantly increased demand for VLCC tankers.
The sliding oil price could pull more product tanker vessels out of the market to serve as oil storage spaces. At Torm, several customers are already inquiring about the possibility, Executive Director Jacob Meldgaard tells ShippingWatch. The market has reacted immediately and is not significantly higher than just a week ago.
Torm is off to a booming start to 2020, as the shipping company records the best beginning to a year in a decade, shows the annual report for 2019. The company reports a profit of USD 202 million.
In the wake of the oil plunge, Clarksons now projects that there could be a need for another 60 supertankers in April, which would make rates increase significantly.
While investors stare in shock at the dramatic slide in the oil price, tanker operators are watching excitedly from the sidelines.
Before long, the Trump administration will issue a warning to shippers, ports and insurers against storing Iranian oil and thus circumventing US sanctions, Reuters writes.
VL8 Pool, managed by Navig8, accuses Glencore and Valero of having supplied contaminated bunker fuel to a ship in March 2018. The ship suffered engine failure in the Indian Ocean.
Tsakos Energy Navigation has sold three suezmax vessels and two product tankers. The sale strengthens the Greek shipping company's cash position while also reducing its debt.
HR Crewing Personnel Officer for Stena Rederi A/S (Permanent position)
Product owner for trading platform - Bunker Holding Group
