Surprisingly, it seems that the use of VLCCs for floating storage has increased in recent weeks, says a report by Poten & Partners Information about the ships reveals that about every third vessel on charter contract earlier this year is now being used for floating storage…
General Maritime Corporation and Navig8 Crude Tankers Inc. complete merger to create large owner of modern eco VLCCsGeneral Maritime Corporation and Navig8 Crude Tankers Inc. have completed a merger to create Gener8 Maritime, Inc., a U.S…
General Dynamics NASSCO has held a keel-laying ceremony for the first ECO tanker currently under construction for SEA-Vista, at the company’s shipyard in San Diego. The ECO tanker is the first of a three-tanker contract between General Dynamics NASSCO and SEA-Vista…
Monaco-based liquefied natural gas carrier owner GasLog has reported a sharp increase in profits in 1Q15, saying the sector's medium- to long-term outlook remains encouraging. Group net profits jumped to $13.8 million in 1Q15 from $6.4 million in the same period last year…
The Round Table (RT) of International Shipping Organisations (comprising BIMCO, the International Chamber of Shipping, Intercargo and INTERTANKO) is deeply concerned if the international convention to regulate ships’ ballast water comes into…
Golar LNG has signed a binding Heads of Terms with Ophir Energy Plc for the provision of the GoFLNG vessel Gimi. Golar has started discussions with partners Keppel and Black & Veatch aimed at exercising an option, under an existing framework agreement…
UK- based shipping consultants Drewry said that it was only a matter of time before these carriers make the formal announcement that Hamburg Süd is to become a fully-fledged member of Ocean Three, or Ocean Four as it will presumably have to be re-named…
The booming VLCC tanker market has started to be reflected on the companies’ earnings and is “firing on all cylinders” and it is set to continue Poten & Partners say in their weekly report. The boom is evident by the rather impressive first…
The board of directors of Odfjell SE has appointed Kristian Mørch as the company's new president and CEO. He will succeed current president and CEO Tore Jakobsen by November 1, 2015. Mørch is a Danish citizen and presently holds the position as co-CEO of Clipper Group…
Suez Canal Authority said it controlled a blaze in a British container ship passing the waterway Friday, leaving no human losses. An ultra-large container ship owned by Hanjin Shipping caught fire while underway just south of the Suez Canal on 1 May…
Suezmax tankers are looking good for a strong 2015 year, before posting a mild downside during 2016, but are poised to accelerate yet again in 2017 on rising deliveries, said shipbroker Charles R. Weber in its latest weekly report (Ref. Weekly…
BP Shipping today celebrates its 100-year anniversary, making it the longest continually operating company in the BP group.Formed on April 30, 1915 as the British Tanker Company, the business has adapted to significant world events including two world wars…
A coalition of European shipping sector organisations, led by the European Community Association of Ship Brokers and Agents (ECASBA), has called on the European Parliament, Commission and Member States to honour the commitments to support…
Euronav delivered its best operating profit in seven years, with a 182 percent improvement, and a USD 80.8 million net profit, thanks to the 15 VLCC supertankers the company acquired from Maersk. Core profit rose 180 percent in the first quarter to $131…
Scorpio Tankers has announced a public offering of 15 million common shares, with an underwriter’s option to purchase up to an additional 2.25 million units. New York Stock Exchange-listed Scorpio says it plans to use the proceeds to fund…