Russia’s largest shipping company PAO Sovcomflot saw profits fall in 2016, and admitted the year had "severely tested the industry".
Danish owner Nordic Tankers Trading is partnering with V.Group in a new ship management venture based in Copenhagen.
When the subject turns to infrastructure investment in the States and the potential impacts on deepsea and domestic shipping, the booming energy markets are now receiving increased attention.
Malaysian oil and gas shipping firm MISC remains cautious on expansion despite the stabilising oil price and asset expansion will only be driven by secured long-term employment or contracts, local media reported.
Oman Shipping Company has successfully raised $227m to finance its purchase of 10 new medium range tankers, which are chartered to Shell Tankers Singapore for seven years.
Foreign demand for Iranian crude has more than doubled since sanctions against Iran were lifted early last year, according to new data from Vessels Value.
In a continuing war of words DHT Holdings say Frontline turned down an offer to meet its co-ceos after it rejected the revised takeover proposal from the Norwegian tanker company.
John Fredriksen’s Frontline says that DHT Holdings has rejected an improved takeover offer while it moves to expand VLCC newbuild resale buys instead.