ShippingWatch

Frontline and BW LPG drive shipping shares in Oslo

2015 once again brought severe capital market beatings to dry bulk players such as Western Bulk as well as offshore supply carriers, while tank and gas are driving up share rate developments on the Oslo Stock Exchange.

Photo: Oslo Børs

If not for companies such as BW LPG, Avance Gas Holding and John Fredriksen-controlled tanker carrier Frontline, 2015 would have seemed a sad year for shipping shares on the Oslo Stock Exchange.

With preliminary rate increases among the three carriers of 78, 58 and 44 percent, and with one month left in 2015, the total increase of shipping shares will land at around 13 percent. The development is characterized by sharp price increases in oil and gas carriers, while dry bulk shipping companies, experiencing the worst market conditions in 30-40 years and with the benchmark Baltic-Dry index at at its lowest level ever, have taken another beating on the stock exchange this year.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs