The ban of Qatar vessels from many ports in the Middle East region could impact the VLCC market according to Affinity Research.
Consolidation is in the tanker waters. Teekay Tankers and Tanker Investments Ltd (TIL) have now announced a shares for shares merger, that would create an operator even bigger than the “…largest operator of midsized tankers…”- the tagline for Teekay Tankers even before the tie-up.
Scorpio Tankers is taking over Navig8 Product Tankers making it the largest owner of product tankers listed in the US.
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.