With crude tanker earnings dropping like a stone the last two weeks - though still at reasonable levels in recent history - the question becomes is this just a seasonal downturn or a major correction?

Greek tanker Tsakos Energy Navigation (TEN) has splashed out $313.9m on two VLCCs and two suezmaxes as first half profits leapt on the back of the strongest tanker market since 2008.

New York-listed DHT Holdings reported a $22.2m profit in the second quarter buoyed by a strong tanker market.

Shipbrokers Simpson Spence Young (SSY) are planning to boost their tanker business with the hiring of former Shell global VLCC manager Frank Twigg.

John Fredriksen’s Frontline and Frontline 2012 are to be merged together again four years after the latter was created through a restructuring.

The National Shipping Company of Saudi Arabia (Bahri) has declared options for five VLCC newbuildings at Hyundai Samho Heavy Industries.

The initial public offering (IPO) by Gener8 Maritime priced lower than expected at $14 per share.

Euronav has bought four VLCC newbuilds from Metrostar Management for $96m each, with options for four extra vessels at $98m each.

John Fredriksen's Frontline has reported a $31.1m profit for the first quarter, as the crude tanker market improved and bunker prices remained low.

Strong crude tanker rates helped drive John Fredriksen’s Frontline 2012 to a $103.5m profit in the first quarter of 2015, and the company said it is committed to a US listing.