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Nordic American Tankers Shrinks Quarterly Loss

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 20, 2019 Bermuda-based tanker shipping company Nordic American Tankers (NAT) wrapped up the fourth quarter of this year with a net loss of USD 10.5 million. This was a substantial improvement from a loss of USD 151.4 million posted in the corresponding period a year earlier and a loss of USD 38 million seen […]

Euronav Disposes of Its Only LR1 Tanker

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February 20, 2019 Belgium’s tanker shipping company Euronav NV has decided to sell Genmar Compatriot, a 2004-built LR1 tanker. The 72,768 dwt vessel has been sold for USD 6.75 million to an undisclosed buyer. As informed, the vessel will be delivered to its new owners in the course of April 2019. Euronav expects to record a capital gain […]

d’Amico Joint Venture Sells MR Product Tanker

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February 20 2019 Tanker owner d’Amico International Shipping has revealed the sale of a 2009-built MR product tanker by its joint venture DM Shipping. The joint venture company between Mitsubishi Group (40 pct) and d’Amico Tankers (51 pct), signed a memorandum of agreement for the sale of the 46,800 dwt MT High Strength for a […]

Danaos Delivers Major Loss due to Impairments

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February 20, 2019 Greek containership owner Danaos Corporation ended the fourth quarter of 2018 with a major loss due to recorded impairment charges. The company’s net loss for the quarter ended December 31, 2018 reached USD 180.9 million, compared to a net income of USD 22.8 million seen a year before. Danaos recognized an impairment […]

GoodBulk to Make Its Capesize Ships BWMC Compliant

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February 19, 2019 Dry bulk vessel owner and operator GoodBulk plans to equip eleven of its Capesize vessels with ballast water treatment systems (BWTS) in the coming period.  BWTS will be installed on three Capesize bulkers in 2019 and on eight ships in 2020 during their scheduled drydocks, the company said. The installation of the […]

Moody’s Upgrades Hapag-Lloyd Ratings, Outlook Stable

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February 19, 2019 The corporate family rating (CFR) of German shipping major Hapag-Lloyd has been upgraded to B1 from B2, according to ratings agency Moody’s. Additionally, Moody’s upgraded the company’s probability of default rating (PDR) to B1-PD from B2-PD and its senior unsecured bond ratings to B3 from Caa1, with a stable outlook. “Our rating […]

Nakilat Grows Profit in 2018

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February 18, 2019 Qatar-based shipping company Nakilat delivered a 5.3% increase in profit during the year ended December 31, 2019. The company’s profit reached QAR 892 million during the period, compared to QAR 847 million reported in 2017. Excluding the 2017 one-off item, the 2018 net profit increased by 14%, the company said. The key drivers of Nakilat’s […]

TEN Orders Tanker Duo against New Long-Term Charter Deals

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February 18, 2019 Greece-based Tsakos Energy Navigation has placed an order for two Suezmax crude oil tankers on the back of new long-term charter deals. Namely, the company said that the new vessels would, upon delivery, enter into minimum 5 maximum 12-year contracts to an undisclosed oil major. According to data provided by Asiasis, the […]

GasLog Ends 2018 with Record Earnings

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February 14, 2019 Greece-based owner and operator of LNG carriers GasLog wrapped up 2018 with record annual and quarterly results, driven by strong spot earnings from the company’s vessels.  The company’s profit increased to USD 126.4 million in 2018 from USD 84.2 million posted a year earlier. In addition, revenues rose to USD 618.3 million in […]

Maersk Signs Compliant Fuel Deal with PBF Logistics

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February 14, 2019 Danish shipping major Maersk has signed an agreement with PBF Logistics, which would deliver 10% of its annual fuel demand ahead of the International Maritime Organization’s (IMO) 2020 global sulphur regulation. Under the deal, Maersk would source and PBFX would process crude oil at CPI Operations LLC, a PBF Logistics LP terminal facility […]