Market remains challenging in the near term, but should start to pick up before the end of 2018, predicts Odfjell.
Following a fleet expansion, Singapore-based shipowner Epic Gas reported a USD18 million net loss, but continues to grow the LPG breakbulk trade.
The total number of LNG carriers on order has fallen to 114, totalling 18.27 million m³, or 24.3% of the existing fleet in capacity terms.
The funds will finance the construction of a high ice-class Arctic shuttle tanker (Arc7) for the Novy Port project.
MOL aims to use the tie-up to enchance its presence in the chemical business.
Shell and Petrobras have fixed very large crude carriers on one-year period charter, with an option to extend the hire for another year.
George Economou-led DryShips is spinning off its LPG fleet into Gas Ships, a new public entity that also appears to be positioned as a possible acquirer of Economou’s privately held LNG tonnage.
The South Korean government has approved funds to support the construction of a domestic tanker in a move to revitalise struggling local shipping industries.
The company’s finances were kept in the black by the sale of its three oldest VLCCs.