All of a sudden, there are deals in the air. The mood at the at last week's Marine Money 2018 conference, held over a span of three days, in New York was ebullient.
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.
Tanker owner Euronav says the delay in implementation of the IMO’s Ballast Water Management (BWM) Convention for all large tankers by two years will have little impact on the market.
Excess capacity in shipping and offshore will not go away “in a hurry” due to the sectors having witnessing a prolonged period of having access to “too much cheap money”, according to Piyush Gupta, ceo of DBS Group.
The Sea Asia Global Forum will kick-off the conference sessions at Southeast Asia’s largest maritime event on 25 April with top international executives discussing global shipping and energy markets.
Tanker shipowner Euronav saw its first half earnings decreased compared to the year-ago period due mainly to a one-time charge related to the termination of a joint venture deal.