The misery continues for large tanker owners with VLCCs earning less than $10,000 a day on average. Suezmaxes are doing a little better at almost $20,000 a day, while aframaxes are around $12,000 a day.
Navios Maritime Acquisition Corp (NMA) has acquired a 10-year old VLCC for $35.4m.
Few of the owners of large tankers have reported their results for the second quarter, but Euronav, the Belgian-based owner of a representative fleet of VLCCs and suezmaxes has recorded a loss of $31m for the period on top of a $11m loss in the...
Nicaragua National Assembly has given final ratification of its agreement with HKND Group to develop a new canal in the country.
A “frame agreement” just signed between Hamburg-based Becker Marine and Maersk Tankers could see up to 15 of the Danish tanker company’s VLCCs fitted with fuel-saving Becker Mewis Ducts. The deal comes soon after the installation of a duct on the...
No let-up in tanker market misery for owners of crude carriers with average VLCC earnings at less than $7,000 a day this year according to Clarkson Research. AG/West continues in negative territory. Suezmaxes are doing a little better with average...
The word pipeline can strike fear into the hearts of tanker owners as they envisage the loss of long haul crude demand - four years ago it was Russian announcements of a deal to supply 300,000 barrels per day (bpd) to China via the Chinese spur...
Riyadh: First quarter net profit at Bahri (formerly National Shipping Company of Saudi Arabia) fell 9.7% year on year from SAR160.1m in 2012 to SAR144.5m 2013.