The long-running dust-up over shares of Euronav between the historically acquisitive tanker behemoth Frontline on the hunt for a larger market position, and privately held CMB is on course for a resolution.
The outbreak of new Middle East hostilities drew weakening oil prices to an abrupt halt yesterday as both benchmark crude oils – Brent and West Texas Intermediate – leapt by more than 4%.
The Cypriot shipping industry has long been a maritime powerhouse, both historically and in the modern era especially in the Eastern Mediterranean and more recently within the European Union.
Safetytech Accelerator, together with CoolCo, MOL, and Shell, has selected Green Instruments and Everimpact systems to be evaluated by the Methane Abatement in Maritime innovation initiative (MAMII).
The settlement of the long running wrangle for control of Euronav between Frontline and CMB will see the company diversifying away from crude oil transportation and taking a stronger role in decarbonisation.
Skarv Shipping Solutions, a joint venture between Peak Group and Grieg Edge, has signed a contract with China’s Huanghai Shipbuilding for four 7,000 dwt multipurpose vessels with an option for another four.
John Fredriksen’s Frontline is set to become the largest public-listed pure play tanker owner with the acquisition of 24 VLCCs from Euronav for $2.35 billion.
Derek Dickins, who joined Seatrade from day one and worked for the company in the UK, Greece and Hong Kong, passed away this week on the Greek island of Aegina after a long illness.