Nordic American Tankers was still losing money in the fourth quarter of 2018, but the result was noticeably improved compared with the third quarter. The year ended in a large deficit.
Tanker shipping companies fought their way through a 2018 that hit rock bottom. At Swedish Stena Bulk, the year was spent on preparing for better markets, while the company launched a new venture, CEO Erik Hånell tells ShippingWatch.
The head of Qatar Petroleum, who also serves as the country's energy minister, confirms Qatar's plans to order as many as 60 new LNG ships. The country is looking toward Asian shipyards for starters.
Two yard workers were killed Monday during the scrapping of a Greek tanker vessel which caught on fire at the Chittagong beach in Bangladesh, reports Shipbreaking Platform. It is time for the Green government to intervene, says the NGO.
Just over one month after acquiring Nordic Tankers, Japanese MOL Chemical Tankers has continued on its shopping spree. This time, the company has purchased shares in and has entered a partnership with a Dutch logistics firm.
Epic Gas' bottom line was negative in 2018, but there are signs of improvement towards the end of the year for the gas shipping company, which booked a slight profit in the fourth quarter and sees signs of a strengthening LPG market.
Scorpio Tankers saw its net deficit grow in 2018 in a dire product tanker market, though the fourth quarter brought "a dramatic improvement in the product tanker market," says the company.
Companies linked to equity fund Oaktree Capital were the actual owners of the five Hansa Heavy Lift vessels sold to Spliethoff in January, learns ShippingWatch.
2018 was a challenging year for chemical tanker, says CEO Kristian Mørch in Odfjell's annual report, which shows a large deficit caused by the group's terminal business. Things should be looking better already in the first quarter this year.
Shipping company Nordic American Tankers has secured a new credit facility totaling a triple-digit million dollar figure.
Information about ships' emission of greenhouse gases should be published, maintains the EU Commission after revising the so-called MRV system. However, the commission did budge on one point.
Opponents of scrubbers are divided into two camps, says one of DHT's two CEOs. Those who do not have the funds to invest in them, and those who arrived at the party too late.
Gas tanker operator Avance Gas has emerged from 2018 with a smaller deficit and a larger revenue. The company expects a strong 2019 market, partly due to the upcoming sulfur requirements.
In a generally tough year for the tanker sector, shipping company DHT Holdings finished the last quarter of the year with a positive bottom line. The start of 2019 indicates improvements in the market, says JP Morgan.
Oil consumption and a record low order book are some of the reasons behind a product tanker recovery in 2019, predicts Ardmore's CEO. However, the carrier's deficit grew in both the fourth quarter and for the whole of 2018.
Protracted negotiations between BW LPG and Dorian LPG were an expensive affair for the latter, which spent millions on banks and lawyers, revealed Dorian in its quarterly report.
The prospects for product tanker are looking good, at least for the next two to maybe three years, says Concordia Maritime CEO Kim Ullman. His biggest worry is that tanker shipowners might do a classic shipping maneuver. ShippingWatch has interviewed Ullman.
Euronav CEO Paddy Rodgers will step down in 2019 now that he has completed the merger with Gener8. Euronav's strategy will remain unchanged, says chairman.
The shipping company claims that it has acted "100 percent correctly" in its conduct, even though two of the carrier's former vessels ended up on a beaching yard for scrapping, reports Dagens Næringsliv.
MOL Chemical Tankers has now completed its acquisition of Nordic Tankers from equity fund Triton. The sale means that the chemical tanker shipping company will now operate under the name MOL Nordic Tankers.
The chemical tanker market continued to pressure Stolt Tankers in the fourth quarter of 2018. CEO Niels G. Stolt-Nielsen, who had predicted a tight 2019, is a cautious optimist. Although several items will need to first fall into place.
2018 brought three "record-weak" quarters, which were replaced by a strong finish to the year for Swedish tanker operator Concordia Maritime. 2019 is off to a strong start, but the first half of the year will be challenged by, among other factors, new ships hitting the water, says CEO Kim Ullman.
US sanctions on Venezuelan imports will lead to tankers needing to sail further to pick up oil. This could make tanker rates increase, concludes analyst firm and broker Clarksons.
Celsius has exercised an option at South Korean yard Samsung Heavy Industries for another two large LNG ships. The order is worth USD 375 million. According to Reuters, Qatar plans to order a fleet of 60 newbuild LNG ships.
Norwegian tanker carrier Hunter Group has once again reached an agreement with shipyard DSME on three supertanker ships.
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