John Fredriksen’s flagship tanker company Frontline reported a net profit of $58.6m for Q4, and remains upbeat about the outlook for the tanker market.

Four of the first tankers carrying shipments of Iranian crude are heading to ports in the EU with cargoes of 1m barrels, with a further nine headed for Asia.

Dubai-headquartered tanker owner Gulf Navigation (GulfNav) saw a doubling of net profits in 2015.

On Sunday, 17 January 2016, the date the sanctions on Iran were lifted, National Iranian Tanker Company, (NITC) conducted a well coordinated conference to celebrate, not only the lifting of sanctions but also their 60th founding anniversary.

The buoyant tanker market saw DHT Holdings profits surge nearly nine-fold in 2015.

China VLCC, a joint venture between China Merchants Energy Shipping (CMES) and Sinotrans & CSC Group, has sealed a time-charter deal with oil major Shell for one VLCC.

Euronav has reported sharply improved Q4 and full-year 2015 results, adding that tanker market fundamentals “remain healthy and look sustainable.”

The substantial delivery of tanker newbuildings, especially VLCCs and suezmaxes in 2017 is a "big challenge" and the market "will not stay as strong as it is today" according to Stena Bulk president and ceo Erik Hanell.

Tanker owner Euronav has sold a secondhand VLCC at a price of $38.4m to Hong Kong-listed Agritrade Resources.

The National Shipping Company of Saudi Arabia (Bahri) is buying two secondhand VLCCs for $155m.