Hints and tips:
...Norway’s Navig8 and General Maritime — two crude oil tanker operators that have received investment from Oaktree, the private equity firm — are in the course of merging....
...This is because it costs much less to finance a tanker of oil when crude is at $60 a barrel rather than $100. Low interest rates have also helped the traders’ working capital....
...The company operates a fleet of 33 medium-range tankers for refined oil products, mostly bought in a single transaction from Cido Tanker, a Hong Kong group....
...Ross now hope for further returns beyond the US as China resumes imports of iron ore and increases its imports of sweet crude oil from Africa, benefiting OSG’s transport of international crude and oil products...
...Bankers and analysts say the money has targeted specific “hot” sectors of the market, especially product tankers, which carry refined products, and vessels to carry liquefied petroleum gas and liquefied...
...It said “events in the cotton market accounted for a majority of the year-on-year reduction in agricultural products marketing adjusted earnings before interest and taxation”....
...WL Ross, CIC and other investors together injected $600m into Diamond S to fund its purchase of the product tankers, from Korea’s Cido Tanker Holding....
...In the run-up to the Virgin/Northern Rock deal, for example, he made a debut investment in shipping, buying into tanker business Diamond S....
...NCPharma has set itself the ambition of securing from the world’s largest drugs companies parts of their product pipelines....
...It blamed the worsening outlook on product tanker earnings for the downgrade....
...Roughly half of Maersk’s 173 product tankers have ice strengthening. Torm claimed to be earning an extra $5,000 a day for ice-class product tankers....
...Tanker is the first product tanker operator to admit such a step, now common in the container ship and car carrier markets....
...“M&S is a super tanker with limited relevance to today’s consumer,” said Mandy Deex: “Even with passionate management and a reasonable strategic plan, rebuilding market share will be difficult.”...
...Wednesday's release of US weekly commercial crude inventories will provide a timely update of the impact of Hurricane Ivan on US oil flows, including domestic crude and petroleum product output and oil tanker...
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