Struggling South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has inked an order for up to 10 VLCCs from Hyundai Merchant Marine (HMM).
In a continuing war of words DHT Holdings say Frontline turned down an offer to meet its co-ceos after it rejected the revised takeover proposal from the Norwegian tanker company.
A 1993-built Singapore-flagged VLCC Varada Blessing has been sold at a price of RMB81m ($11.8m) after it was auctioned on Taobao, China’s largest online shopping website, reports said.
Despite the difficult shipping markets in 2016 traffic in the world’s busiest shipping lane – the Straits of Malacca and Singapore (SOMS) – were up 3.4% to a new all time high of 83,740 transits.
Coal and shipping solutions provider Agritrade Resources has completed the purchase of its third VLCC, the company announced to the Hong Kong Stock Exchange.