Tankers
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DryShips to sell tanker fleet
London: DryShips is selling four of its suezmax tankers for an en-bloc price of $245m, and is in talks to…
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Iraq presses ahead with Grand Faw project
Dubai: Despite some financing concerns Iraq has committed to build one of the largest ports in the Middle East over…
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Reliance ups India’s reliance on West African crude imports
London: VLCC fixtures reveal that India is turning away from the Middle East Gulf (MEG) as a source for its…
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d’Amico International Shipping: On the spot
Rome: In the second of a special three-part series on Italy’s top shipowner, Maritime CEO is back in Rome this…
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Titan Petrochemicals in profit warning
Hong Kong: Titan Petrochemicals issued something it has not been able to do for many years today – a profit…
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Torm wins forbearance from lenders
Copenhagen: Denmark’s Torm is concluding a new restructuring deal with its lenders and Oaktree Capital Management. The original restructuring agreement…
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Tsakos receives 2015 Commodore Award
London: Panagiotis Tsakos, founder of the Tsakos Group, has been named the Connecticut Maritime Association’s (CMA) Commodore of the Year…
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Sino-Global becomes a shipowner, paying $2.2m for a small tanker
New York: Fast evolving New York-listed Sino-Global Shipping America is buying a small oil/chemical tanker from Hong Kong-based Rong Yao…
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China stockpiling oil on the cheap
Amidst global oversupply, China is benefiting form record discounts offered by competing crude producers. As the world’s second largest consumer…
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Motia Compagnia di Navigazione sells MR to Maersk
London: Italy’s Motia Compagnia di Navigazione has sold an MR product tanker to Maersk for $21.5m, brokers have confirmed to…
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Two oil/ore carriers sold for conversion to VLCCs
London: Two very large oil/ore (O/O) carriers have been sold en bloc to Greek “clients of Olympic Shipping” for conversion…
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Vintage VLCCs are back in fashion
London: This week saw a string of S&P transactions for older VLCC tonnage at favourable prices, at least one of…
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India to build five mega reserves of crude oil
New Delhi: The Indian government is expected to rope in private refiners and state firms from West Asia to build…
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Scorpio Tankers secures loans to fund purchase of four LR2s
London: NYSE-listed Scorpio Tankers has secured loans of $52m and $61.2m to partially fund its purchase of four LR2 product…
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Nordic American Tankers plans fleet expansion
Oslo: In a letter to shareholders, Nordic American Tankers chairman and ceo Herbjorn Hansson revealed that the company is planning…
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Crew kidnap highlights security shambles in Nigeria
London: Three crew kidnapped from a tanker by armed robbers in Nigeria have been freed, highlighting the dire state of…
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BW Pacific back at STX for two more LR1s
Seoul: STX Offshore & Shipbuilding has won an order for two LR1 tankers from repeat client BW Pacific. BW Pacific…
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Brazil to send huge ethanol shipment to US
San Francisco: Brazil will ship about 30,000 tonnes of ethanol to the US in a single shipment arranged by Royal…
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Gestion Maritime: Tanker diversification coupled with bulk acquisitions
Monaco: Monaco-based Gestion Maritime is ready for its debut in the liquid bulk market this summer and is also readying…
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DHT fixes four on time charters
Oslo: New York-listed DHT Holdings has booked time charter contracts for four of its vessels. VLCC DHT Chris (309,285dwt, built…
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