Euronav reports its net loss slipped to US$ 10.7 million in the first three months of 2013, compared with US$ 9.0 million a year earlier.In its Q1 2013 financial report Euronav makes broad observations on the global tanker market as follows…
Wärtsilä to supply cargo handling package, dual-fuel engines & propulsion for Denmark's Evergas to be built at Sinopacific Offshore & Engineering in China.In addition to LNG, the ships will be able to carry and reliquefy Ethane and LPGs with the cargo handling package supplied by Wärtsilä…
Ridgebury Tankers LLC announce a $200 million commitment from Riverstone Holdings LLC, alongside a $5.7 million commitment from Ridgebury management. The Connecticut-based Company will use the capital to acquire clean product carriers of…
Increasingly lower oil demand in the U.S. prompts tankship operators to look towards the China market.According to a BIMCO review, the tanker market is doing full steam ahead – not in relation to demand, earnings or actual operating speed…
Teekay Tankers orders 4 LR2 product tankships from STX Offshore & Shipbuilding with options for 12 more.The agreement is for STX of South Korea to construct four fuel-efficient 113,000 dwt Long Range 2 (LR2) product tanker newbuildings for a fully built-up cost of approximately $47-million each…
Stolt-Nielsen Limited reported unaudited results for the first quarter ended February 28, 2013. Net profit attributable to SNL shareholders in the first quarter was $1.5 million, with revenue of $519.4 million, compared with $18.2 million…
Navios Maritime Acquisition Corp. to acquire 5 MR2 Product Tankers wth options for two more.The company which owns and operates tanker vessels, announce that it agreed to acquire five MR2 product tankers for an aggregate purchase price of approximately $143…
The company is to offer $87 million aggregate amount of common shares to the public to help fund its expansion programme.The Company's Chairman and Chief Executive Officer, Mr. Herbjørn Hansson is expected to purchase about $1.5 million worth…
London-based NYK subsidiary NYK Energy Transport (Atlantic) & GDF Suez time charter the LNG carrier 'Grace Barleiria' for 4 years.Grace Barleiria has been operated by NYK since her delivery in 2007. She has a capacity of 149,700 m3 and is equipped with GTT's Mark III technology…
So far, 120 companies have registered with the international KPI Project, started by InterManager but now an industry-led initiative. KPI data is being uploaded from more than 1,600 vessels into the web-based InterManager KPI Environment (IMKE) system…
China reached this milestone in December 2012, as its net petroleum imports surpassed those of the U.S. In a recent press release NYC-based PIRA Energy Group reports that weak reported oil demand in the U.S. reduced the commercial stock draw…
The market continues to struggle, and Drewry's latest Tanker Insight report saw the Drewry Tanker Earnings Index suffer a further decline in February.Weak demand hammered freight rates on major routes, especially for the larger vessel segments…
Mitsubishi Heavy Industries (MHI) and Imabari Shipbuilding jointly establish the MI LNG Company, Limited.Through establishment of the JV, the two companies aim to proactively prepare a structure capable of responding to large-scale LNG carrier construction projects…
The tankship 'Nord Integrity' took advantage of favourable winds & current to drift some 280 miles on passage to the loading port in order to save fuel.The 48,026 dwt tankship saved US$17,000 by shutting down the main engines and drifting…
Euronav, report a trading loss of almost US$ 119-million after tax in year-ending 2012 report, expect oil transportation market to re-balance in 2013.Prospects for 2013 On the supply side, given the current state of the tanker market and…