John Fredriksen’s mighty Frontline second quarter results released last week will have sent shivers down the spines of owners in the crude tanker market. Despite its legendarily tight operation, the New York-listed tanker giant managed to lose ...
DHT Holdings has reported an $8m loss for the second quarter, in line with a $7.7m loss in the same period last year.
Frontline has reported a loss of $78.2m in the second quarter, as vessel impairment losses of $56.2m across three VLCCs hit the owner's bottom line.
Bureau Veritas (BV) has been nominated by Saipem to oversee the conversion of two VLCCs into turret-moored Floating Production Storage and Offloading (FPSO) vessels as part of a $4bn project commissioned by Total.
Owners of large tankers may still have been losing money as second quarter results of listed companies seem to show, but confidence in the sector appears to be growing. Increased earnings in the second quarter and further increases at the start of...
John Fredriksen’s Ship Finance International (SFI) has sold three 1999-built VLCCs for $77.5m.
The four VLCCs purchased by Euronav for $342m, announced yesterday, were bought from Maersk Tankers, the Danish group has revealed.
A better first quarter than in 2013 saw owners of the larger sizes of tankers just about wash their faces financially, but it is a different story now.
If crude tanker owners embark on a newbuilding ordering spree they could kill the market for 10 – 15 years warns Euronav ceo Paddy Rodgers.