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…
Drewry's latest 'LNG Insight' saw heating demand subside in major importing regions in February & cargo availablilty also tightened.Regarding cargo availability, a few unplanned shutdowns, caused a 4% decline in the LNG Freight Index.LNG shipping enjoyed a dream run during 2011 and 2012…
China Shipping Development Co. to order six liquefied natural gas (LNG) to tap the nation’s rising demand for cleaner fuel.The addition of the tankers comes as the world’s largest energy consumer plans to more than double natural gas consumption to cut its dependence on coal and oil…
Nordic American Tankers Limited (NAT) is to acquire a Suezmax tankship delivered to its owners earlier this year .The company has entered into a preliminary agreement to acquire a modern double-hull Suezmax tanker delivered from a top yard in South Korea in early 2013…
Belgium's Euronav sells Samsung newbuild 'Cap Isabella' 157,648 dwt to new owners then charters the vessel back long-term.Cap Isabella was sold for US$ 54,000,000, with delivery from Korea's SHI to the new owners due shortly.The vessel…
Greece-based Tsakos Energy Navigation Limited (TEN) fix 3-year charters for 5 Panamax LR1 product tankers with a major national end-user.These fixtures are expected to generate close to $80 million in gross revenues over the duration of their contracts…