Product Tankers

Tanker veteran warns on rates: The storm is coming

tanker ship

Diamond S Shipping (NYSE: DSSI) capped a blockbuster run of tanker earnings with an announcement of huge profits and a record quarter, just like the other four listed owners reporting this week.

But the Diamond S conference call on Friday was not a predictable sequel to calls with analysts the days before. The mood was less uplifting and self-serving, more foreboding and straight-shooting.

Diamond S CEO Craig Stevenson and his CFO Kevin Kilcullen did not mince words about the trouble they see...

https://www.freightwaves.com/news/tanker-veteran-warns-on-rates-the-storm-is-coming

Inside the ‘mind-blowing,’ ‘crazy,’ ‘insane,’ ‘ridiculous’ tanker sell-off

crude tanker

The plot thickens.

On Wednesday, U.S.-listed tanker stocks reported record-high results, executives confirmed strengthening rates on conference calls, the broader stock market was relatively stable (at least until the last hour), the price of crude oil declined … and yet, stocks of tanker owners fell sharply in heavy trading.

It was “the craziest price action I’ve seen in my nine years covering the space,” Jefferies shipping analyst Randy Giveans told FreightWaves.

There have been plenty of bad...

https://s29755.pcdn.co/news/inside-the-mind-blowing-crazy-insane-ridiculous-tanker-sell-off

Investors dump tanker stocks just as tanker profits soar

product tanker

Imagine you’re the CEO of a company ringing the opening bell of the New York Stock Exchange. You show up at the corner of Wall Street and Broad full of excitement and anticipation on the morning of the big event. Then the entire U.S. market crashes the moment trading begins and no one pays any attention to you.

Public tanker company executives can relate.

The top names in the space are issuing earnings releases in rapid fire this week, with Ardmore Shipping (NYSE: ASC) the first out of the gate...

https://www.freightwaves.com/news/investors-dump-tanker-stocks-just-as-tanker-profits-soar

d’Amico Sign US$ 25.7 Million Sale and Leaseback Deal

  • d’Amico Tankers signs deal for  Product tanker sale and leaseback with a Japanese counterparty.
  • The sale of the 45,999 dwt MR tanker for a consideration of USD 25.7 million.
  • The sale of the Hyundai-Mipo-built High Voyager to bring in around USD 9.6 million,  contributing to the liquidity required to complete DIS’ fleet renewal program.
  • DIS’s current fleet comprises 49.5 double-hulled product tankers with an average age of about 6.9 years.
  • d’Amico Tankers additionally has one LR1 product tanker...

http://mfame.guru/damico-tankers-sign-mr-tanker-sale-and-leaseback-deal/

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