TORM Buys Two MR Tankers
Danish ship owner TORM said it has signed an agreement to purchase two 50,000 dwt medium range (MR) tankers currently under construction at the Korean shipyard Hyundai Mipo. “TORM’s strong capital structure allows us to act when we see attractive opportunities to grow the fleet,” said TORM executive director, Jacob Meldgaard. “With these two MR resales delivering in Q3 2017, we have acquired a total of six new high-quality product tankers over the last few weeks.
Flurry of Vessels Booked After Dutch Refinery Outage
At least 10 tankers booked from Mideast to Europe; freight rate for clean tankers up 11 percent from Monday. Oil traders are rushing to secure vessels to ship refined…
NYK to Pay $20 Mln for Cartel Conviction
Australia has fined and convicted Japanese shipping firm Nippon Yusen Kabushiki Kaisha (NYK) for operating as a cartel in relation to the transport of vehicles into the country…
New CEO Takes the Helm at Intermarine
Project, breakbulk and heavylift cargo transporter Intermarine, LLC said its president and CEO, Al Stanley, has stepped down to pursue other opportunities. Stanley was succeeded by Andre Grikitis, who assumed the role of President & CEO of Intermarine, LLC and Industrial Maritime Carriers, LLC and is responsible for the international flag services. Additionally, Will Terrill has assumed the role of president and CEO of US Ocean, LLC and is responsible for the company’s U.S. Flag services.
Baltic Index Higher on Panamax, Capesize Support
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, boosted by higher rates for the larger capesize and panamax vessels.
China "coordinating with U.S." in S.China Sea SAR Ops
China said on Thursday that it was coordinating with the U.S. navy in the search for a missing U.S. sailor in the South China Sea, a rare show of goodwill between the navies in the disputed waters.
Markets Under Pressure: FSL Trust Reports a $24.1M Charge
Citing declining vessel values and "volatile industry conditions," FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust, announced the Trust…
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