The joint venture between Saudi Aramco, Bahri, Lamprell and Hyundai Heavy Industries to build a $5.2bn mega-yard in Saudi Arabia has been officially launched.
Bimco says that caution will be needed in 2018 to sustain the improvement in shipping markets last year, with China remaining as the driving force of demand.
The announcement of Euronav’s all-share acquisition of Gener8 Maritime came after years of pounding the virtues of the C-word – consolidation - by Euronav’s ceo Paddy Rodgers.
Euronav is taking over Gener8 Maritime in an all stock merger creating a new giant in the large tanker sector.
Euronav has sold a 13-year old VLCC for $45m for conversion to an FPSO.
The US shale gas phenomenon is having an effect on traditional trading patterns, and owners and operators will have to react to this, said Navig8 Group coo Andrew Hoare at the Asian Logistics and Maritime Conference's Tanker and Gas Market Outlook panel.
John Fredriksen's Frontline says that tanker rates in the third quarter of the year were at their weakest since 2013.
BMT SMART has bagged more orders from Samsung Heavy Industries (SHI) for its performance monitoring system.
We are told, mainly by people with an axe to grind on climate change, that the world’s weather is getting more violent. And on cue, violent weather events seem to come along more regularly, whether it is this year’s hurricane season or the incidence of typhoons in 2016-17.