Euronav has sold one of its oldest VLCC named Ti Topaz for $21m, leading to a capital loss of $21m, an amount similar to the sale price.
Kongsberg believes autonomous vessels will be a “real opportunity” for shortsea shipping as it develops the first autonomous electric vessel with Yara.
Japanese refiners Showa Shell Sekiyu and Idemitsu Kosan have formed an alliance, which will include their VLCC fleets, ahead of a full integration.
DHT Holdings board of directors has roundly rejected Frontline’s latest takeover offer saying it is time for both companies “to turn our attentions to more productive endeavors”.
The National Shipping Company of Saudi Arabia (Bahri) saw its first quarter net profit fall by 38% in the first quarter of 2017 hit by lower spot rates.
That famous analyst of all markets, Yogi Berra, once famously said: “It ain’t over ‘till it’s over.” So it goes with Frontline’s pursuit of fellow tanker owner DHT.
This past week saw a day and a half of legal wrangling in the saga of Frontline and DHT, which unexpectedly came back to life.
Despite a legal challenge from John Fredriksen’s Frontline DHT Holdings has taken delivery of its first of 11 VLCCs from BW Group.
Bahri has revealed that it plans to register all of its 37 VLCCs under the flag of Saudi Arabia by the end of 2017.