Oil tankers face new normal amid pandemic and decarbonization drive

Platts spot freight rates 2020

The global tanker shipping industry is likely to find a new normal in the medium term, with sales of second-hand ships taking center stage while orders for newbuilds slow down.

Meanwhile, existing tanker companies may become bigger as ships change hands, or they may form pools to enable better bargaining with charterers, while shying away from ordering new ships.

Uncertainties over how and when the coronavirus pandemic will end are partly behind the new approach, but so is the higher use of...


Synergy Group And Norden Launch Tanker Joint Venture ‘Norden Synergy Ship Management’


Synergy Group and D.S. NORDEN have formed a new joint venture to handle the technical management of NORDEN’s owned tanker vessels.

Norden Synergy Ship Management (NSSM) is a 50/50 joint venture between NORDEN and Synergy and will be headed by Henrik Christensen who previously managed NORDEN’s Technical Department.

“NORDEN is a quality, historic and renowned shipping brand with an organisation that truly lives up to its motto ‘Smarter Global Trade’,” said Captain Rajesh Unni, CEO & Founder of...


Evergreen joins vessel recycling initiative

Major Taiwan container ship operator Evergreen Marine Corporation has joined the Ship Recycling Transparency Initiative (SRTI) initiative that allows ship operators to securely share vessel recycling information.

SRTI is a UK registered charity which operates an online platform for sharing information. It is funded by a number of shipping lines, with the founding partners being China Navigation Company, AP Moeller-Maersk, NORDEN, Hapag-Lloyd, Stolt Tankers and Wallenius Wilhelmsen.

According to...


Norden and Nacks To Launch Cargo Ultramax Ships

  • Danish shipping company Norden has entered into a newbuilding contract with Chinese shipbuilder Nantong Cosco Khi Ship Engineering Co. (NACKS) for four 61,000 dwt dry cargo Ultramax ships, expected to deliver during 2022.
  • Norden’s CEO Jan Rindbo said that the contract was in line with the company’s strategy of ‘agile asset trading and active management’ of the company’s cyclical market exposure.
  • The order is being placed at a time when COVID-19 has reduced ordering activity at global yards...


Diamond S & Norden Team Up for A Strategic Tanker Alliance!

  • Diamond S Shipping Inc. announced a strategic partnership with NORDEN, DiaNor.
  • This will facilitate the commercial consolidation of two of the world’s largest owner/operators of product tankers.
  • DiaNor enables to continue to serve clients via the NPP platform even better, by creating a well-managed, homogeneous fleet, ensuring flexibility and quality service.

Two of the world’s largest owners/operators of product tankers, NORDEN and Diamond S Shipping Inc. have created a strategic partnership,...