Denmark’s J. Lauritzen has removed 15 bulk carriers from its fleet amid a weak shipping market marked by low freight rates across all dry bulk vessel sizes.
Wilhelmsen Ship Management (WSM) is re-entering the crude tanker segment a decade after it exited with the sale of ITM Ship Management.
Pushing forward the boundaries on cleaner fuels, ABS has collaborated on the world’s first successful conversion of a slow-speed marine diesel engine to operate on Ethane as a fuel.
Navigator Holdings has entered into a $160.8m loan facility with Nordea Bank, BNP Paribas, DVB Bank America, ING Bank and Skandinaviska Enskilda Banken (SEB) to refinance an existing loan facility that is due to mature in February 2018.
Specialised shipbuilder Keppel Singmarine has inked an order to build two small LNG carriers for Stolt-Nielsen Gas, with options for three further newbuildings.
Odfjell has returned to the black in 2016 with a net profit of $100m, as it looks to expand its fleet to 100 ships in a continuing challenging market.
Dryships has bought its first VLGC from its chairman and ceo George Economou for $83.5m.