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The company says it will likely achieve the highest time charter equivalent rates in more than nine years in the first quarter given the rising market, particularly for supramaxes in which it specialises
CMA CGM agrees deal with HMM to take a minority stake in Total Terminal International Algeciras, marking the company’s second fresh venture in the region this year. The French shipping giant signed off a deal to manage and operate Alexandria’s new multi-purpose facility in late January
Three years ago Greece-based Prime Tanker group acquired control of First Ship Lease Trust and set its sights on renewing the fleet, shedding containerships as well as several of its tankers
German lender Hamburg Commercial Bank is one of several foreign banks exposed to Hin Leong Trading shipowning affiliate Xihe Holdings seeking to recover loans as part of an insolvency process
Update: Company head says it was the right time to expand its fleet. It sees itself as a consolidator in the product tanker market
Canada’s Teekay Tankers has signed a seven-year charter-in deal for an aframax newbuilding due for delivery in 2022. It predicts more hard months for tankers amid low oil demand, more ships trading and less cargo for them to carry
The company, which recorded a net loss of $65m in the fourth quarter of 2020 compared with net income of $900,000 in the same period a year earlier, sees a favourable dry bulk market going forward
Company carries 25% of non-fossil fuel cargoes, and expects this to rise to 80% to 90% in the next few years, says chief executive Anthony Gurnee
‘Earnings prospects for long range two product tankers in the short-term have fundamentally weakened due to the adverse impact of the coronavirus pandemic on oil and oil products,’ says FSL Trust chief executive
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