At last, there is some lift-off for the struggling crude tanker market. Earnings for VLCCs from the Gulf to Japan rose to $47,000 a day last week, and over $27,000 a day to the US Gulf.
Navios Maritime Acquisition Corp is to launch an initial public offering (IPO) of Navios Maritime Midstream Partners LP.
Expanding tanker owner Eurnoav has reported a $20.6m loss for the third quarter, improving on a $27.1m loss in the same period last year.
Improvements to the Suez Canal announced in August are expected to provide a near tripling of revenue over the next decade and see transit times reduced from 18 to 11 hours, according to new information provided by the Suez Canal Authority (SCA).
DHT Holdings has completed its takeover of Samco Shipholding for $317.5m.
DHT Holdings is raising $150m from a stock offering and selling $150m worth of bonds to part fund its acquisition of Samco Shipholdings and other fleet expansion plans.
DHT Holdings is buying Samco Shipholding for $317m increasing its VLCC fleet to 20.