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Vincent Wee
News Editor
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Latest From Vincent Wee
Diamond S disposes of two 2008-built MR tankers
Update: D'Amico International Shipping of Italy also sheds product tanker from a joint venture
OSV firms buoyed by Middle East business
The oversupply situation within the OSV sector continues to pose challenges for service providers as charter rates remain depressed amid competitive conditions
Nam Cheong returns to profit on chartering income
Nam Cheong jumped into the chartering market, expanding its fleet to 34 vessels at the end of June and achieved high utilisation rates to push gross profit 81% higher to RM32.4m and raise overall gross profit margin to 31%
RCL cuts costs and raises liftings in second quarter to return to profit
Significant efforts to improve internal efficiency helped RCL to keep the rise in freight and operation cost to only 0.7% in the second quarter compared with the previous corresponding period, despite continued growth in liftings
MISC benefits from improved tanker earnings as first-half profit jumps 44%
Better supply conditions are expected in the second half of the year as vessels are taken out of service for scrubber retrofits and rising US exports boost tonne-mile demand
Rystad Energy forecasts emerging global FPSO boom
South America has 12 sanctioned FPSO projects planned by the end of 2020, with Brazil alone is set to award seven more projects in 2020. This is followed, albeit somewhat distantly, by Asia with four