Scorpio Tankers is taking over Navig8 Product Tankers making it the largest owner of product tankers listed in the US.

Profits were up 39% in the first quarter for Dubai-headquartered tanker owner Gulf Navigation Holding (GulfNav).

Euronav have has ordered two ice-class suezmax newbuildings from Hyundai Heavy Industries (HHI) for time charters to Valero Energy.

Kawasaki Kisen Kaisha (K Line) reported a hefty loss of JPY139bn ($1.24bn) for FY2016 ended 31 March 2017 hit by restructuring losses and impairments.

Mitsui OSK Lines (MOL) returned to the black in FY2016 ended 31 March 2017 with a $46.9m net profit for the year.

Frontline has launched a renewed bid for DHT Holdings, this time including the VLCC fleet of BW Group, which came in a deal after its last offer was rejected.

The diversified BW Group has had an active last year or so including a foray into the dry bulk market with BW Dry, acquiring Aurora Tankers in the gas carriers sector, and a major VLCC deal with DHT Holdings. “For the past 12 months there’s been a lot of progress on most fronts in the group,” Andreas Sohmen-Pao, chairman of BW tells Seatrade Maritime.

First Ship Lease Trust (FSL Trust) has entered into an agreement with Teekay Group to employ an aframax tanker on a revenue sharing agreement (RSA).

Samudera Shipping Line is planning to dispose of six elderly ships including four boxships and two oil tankers, subject to approval from the shareholders.

George Economou’s Dryships has acquired a further six vessels for $268m as it lines up a $226.4m possible share sale to Kalani Investments.

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