Tankers
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PDVSA barred from Caribbean oil storage facility over unpaid bills
Venezuela’s troubled state oil firm PDVSA has been blocked from using an oil storage facility over unpaid bills owed to…
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Shanghai Dingheng Shipping orders 16 chemical tankers at Xinle, negotiating for 10 more
Chinese tanker owner Shanghai Dingheng Shipping has commenced a significant expansion of its tanker fleet at Ningbo Xinle Shipbuidling, planning…
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Rosneft orders 10 tankers at Zvezda
The shipping subsidiary of Russian energy giant Rosneft has ordered 10 tankers to be built on home soil. Rosnefteflot has…
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Noble Group sells oil trading business to Vitol
Having completed the sale of its gas and power business earlier this month, Hong Kong commodity trader Noble Group has…
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Dynacom Tankers snaps up VLCC from K Line
Greek owner Dynacom Tankers has acquired 2004-built VLCC from Japanese owner K Line. According to a report by Clarkson, the…
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RBD Armatori shareholders given jail time for tax evasion
The former management at Naples-based RBD Armatori have collectively been sentenced to over 30 years of jail in a tax…
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Pillarstone goes all in on RBD Armatori’s rescue plan
KKR-controlled turnaround fund Pillarstone has decided to go all in for RBD Armatori, the Naples-based shipping company whose non-performing loans…
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The best time to invest? Perhaps, but don’t lose sight of the Three Es
The industry is getting excited about asset values relative to earnings potential but keep a weather eye on the downside,…
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ICS ‘deeply concerned’ by Ottawa’s bid to ban tankers off northern British Columbia
The Canadian Parliament is giving consideration to legislation that could ban the shipment of crude oil in the waters of…
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Why now might not be the best time in the last 30 years to invest in shipping
A report carried on this site yesterday stating that now is the best time since the 1980s to invest in…
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Tianjin Southwest Maritime inks financial leasing deal for asphalt carrier duo
Chinese tanker owner Tianjin Southwest Maritime has clinched a 10-year financial leasing deal with Guangdong Financial Leasing for two 7,800…
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‘Investment opportunities in shipping could perhaps be the best in over 30 years’
The latest quarterly report from Clarksons Platou Securities argues that now is the best time in the last 30 years…
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Hanjin boss accused of misappropriating funds
Police are seeking the arrest of Cho Yang-ho, the CEO of Korean Air Lines and chairman of Hanjin Group, over…
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Varun aframax finally finds a buyer
Creditors have sold another ship that used to belong to crisis hit Varun Shipping. The 11-year-old , an aframax tanker…
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Deutsche Bank takes non-performing Finaval loans from Unicredit
Another Italian shipownbing company has found itself on Deutsche Bank’s radar for investment. Following the cases of RBD Armatori and…
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Weekly Broker: Smaller tonnage in vogue
With 2017 set to be a record year for sale and purchase and shipowners famous for being about as forthcoming…
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Cosco Shipping Energy Transportation appoints new president
Cosco Shipping Energy Transportation, the tanker unit of China Cosco Shipping has appointed Huang Xiaowen as the new company president,…
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Line up for Maritime CEO Forum in Hong Kong revealed
Full details of next month’s high calibre Maritime CEO Forum in Hong Kong are revealed today. The unrivalled speaker line-up…
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Gunvor looks to bolster shipowning division
Oil trading giant Gunvor Group is looking to boost the fleet size of its shipowning division, Clearlake Shipping, likely in…
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As reality bites, VLCCs are torched
Tanker owners are facing up to a troublesome demand future. BIMCO’s Peter Sand reports. Four VLCCs were sold for demolition…
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