John Fredriksen’s Frontline is upbeat on prospects for the tanker market as it reports a first quarter profit of $78.9m.

China VLCC has sold two secondhand VLCCs to an unrelated third party for a total price of $117.5m.

Ship Finance International has entered into an agreement to sell a 1998-built VLCC, Front Vanguard, to a third party for around $24m.

DHT Holdings reported an increase first quarter earnings with a $31.5m profit despite an $8.1m impairment charge related to exiting the suezmax sector.

Euronav reporting its strongest Q1 earnings for eight years at $113.5m is bullish on tanker prospects thanks to “manageable” fleet growth in the coming quarters.

Dubai shipping lynchpin Khamis Buamim has taken up a new challenge: group ceo at Gulf Navigation (GulfNav) to restructure and expand the business of the listed-tanker owner, which bounced back in 2015.

The National Shipping Company of Saudi Arabia (Bahri) has raised SAR1.425bn ($380m) in Islamic financing to pay for five VLCC newbuildings.

The number of vessels transiting the Malacca Strait grew to 2% in 2015 to hit a new all time high, however, the number of containerships using the key waterway dipped below 2010 levels in the second half of the year.

For the first time so far this year, Gulf-Japan spot rates for VLCCs dipped W10 to below W55, following a return to reality after some days in the sun in early January. The current spot rate is at its lowest in six months, amounting to around $38...

The National Shipping Company of Saudi Arabia (Bahri) is buying a secondhand VLCC from Hanjin Shipping.