Norwegian shipowner Østensjø, through its wholly owned subsidiary Østensjø Wind, has agreed to sell 21.3 million shares in offshore support vessel (OSV) operator Edda Wind to relinquish any shares or rights to shares in the latter company. Østensjø Rederi has managed Edda Wind’s fleet of vessels...
Frontline
Υψηλό 15ετίας για τα κέρδη της Frontline
Τα ισχυρότερα ετήσια οικονομικά αποτελέσματα των τελευταίων 15 ετών κατέγραψε η Frontline το 2023, παρά το γεγονός ότι το δ’ τρίμηνο η απόδοση των ναυλαγορών δεν ήταν η αναμενόμενη.
Η εταιρεία σημείωσε κέρδη $118,4 εκατ. το δ’ τρίμηνο ή $0,53/μετοχή, ενώ η κερδοφορία για το σύνολο του έτους διαμορφώθηκε στα $656,4 εκατ. Τα έσοδα της Frontline άγγιξαν τα $415 εκατ. το δ’ τρίμηνο και τα $1,83 δισ. για το σύνολο του έτους.
Με αφορμή την ανακοίνωση των οικονομικών αποτελεσμάτων, ο CEO της Frontline,...
https://www.naftikachronika.gr/2024/03/02/ypsilo-15etias-gia-ta-kerdi-tis-frontline/
OPINION | Shipping oil through troubled waters
Attacks on shipping in the Red Sea have had almost no impact on the oil price, despite the volume of oil shipped through the waterway surging 80 per cent over the last two years because of the war in the Ukraine. Markets more worried about a soft global economy and rising US and Brazilian oil […]
The...
https://www.bairdmaritime.com/ship-world/tanker-world/opinion-shipping-oil-through-troubled-waters/
Frontline sells non-eco ships to have entire fleet fuel-efficient
Norwegian tanker major Frontline has agreed to sell its five oldest very large crude carriers (VLCCs), aligning with the company’s strategy of having only eco-friendly vessels in its fleet.
The post Frontline sells non-eco ships to have entire fleet fuel-efficient appeared first on Offshore Energy.
https://www.offshore-energy.biz/frontline-sells-non-eco-ships-to-have-entire-fleet-fuel-efficient/
Euronav set to acquire CMB.TECH
The Saverys family is continuing with the reshaping of Euronav (NYSE:EURN) following the deal that saw 24 of the company’s VLCCs being transferred to John Fredriksen’s Frontline, resolving a long-running merger battle, Euronav, whose controlling shareholder is now the Saverys family controlled CMB NV, on Friday, reached an agreement to acquire CMB’s clean tech division, CMB.TECH NV, for $1.15 billion in cash. The purchase price will be financed from the cash proceeds of the sale of the 24...
https://www.marinelog.com/news/euronav-set-to-acquire-cmb-tech/
Red Sea is becoming a no go zone for shipping
Supply chain disruptions as a result of Houthi attacks on merchant ships in the Red Sea are only likely to increase. A growing number of ship operators have themselves decided to suspend operations through the area and yesterday the Norwegian Maritime Authority effectively made the Red Sea pretty much a no go area for Norwegian ships.
“Today, the Norwegian Maritime Authority decided to raise the security level in the southern part of the Red Sea to the highest level, level 3,” it said. “This...
https://www.marinelog.com/legal/safety-and-security/red-sea-is-becoming-a-no-go-zone-for-shipping/
How Venezuelan invasion of Guyana could impact tanker shipping
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Shipping already faces fallout from two wars: trade shifts due to Russia’s invasion of Ukraine and...
https://www.freightwaves.com/news/how-venezuelan-invasion-of-guyana-could-impact-tanker-shipping
Euronav brings ammonia powered VLCCs into its fleet expansion moves
With 24 of its VLCCs being transferred to John Fredriksen’s Frontline as part of a deal that resolved a long-running merger battle, Euronav NV (NYSE: EURN) has been rebuilding its fleet with a series of newbuilding orders that began in August when it announced an agreement purchase one VLCC newbuild from an undisclosed yard at a price of $112.2 million that included an option for a second. It exercised that option on October 12, when it looks to have taken an option on a third.
Yesterday, it...
COLUMN | The First Three Days of Christmas 2023: ferry fiasco continues at Ferguson; CBM doubles down at Damen; MOL takes two; three Azerbaijani reporters jailed [Offshore Accounts]
On the first day of Christmas my true love gave to me… a partridge in a pear tree, according to the ancient English carol, but here at Baird Maritime, that’s the cue for a dozen topical features on the offshore industry. Lovers of yuletide traditions – and even those of you who are checking your phone […]
Frontline completes exit from Euronav as Belgian tanker major opens ‘new chapter’ under Alexander Saverys’ reins
Norwegian tanker major Frontline has completed the sale of its stake in Euronav cementing the […]
The post Frontline completes exit from Euronav as Belgian tanker major opens ‘new chapter’ under Alexander Saverys’ reins appeared first on Offshore Energy.