Category Archives: Tanker
Frontline sells VLCC
Here is the press release:
The Board of Frontline Ltd. (the “Company” or “Frontline”) announces that it has agreed to acquire the VLCC “Front Vista” (the “Vessel”) from Ship Finance International Limited at a purchase price of USD 58.5 mill.
Frontline has furthermore agreed to sell the Vessel and the Buyer will settle the [...]
Teekay Tankers forecasts dividends
http://www.teekaytankers.com/index.aspx?page=tnk_news&article_id=727
Teekay Tankers is projecting a first quarter 24 to 27¢ dividend to be paid in March. The company uses a mixture of fixed contract and spot market hires to provide an ongoing dividend plus upside if the rates take off.
The company states that the total dividend for 2010 would be in the neighborhood of $1.30 [...]
A Pair of Teekay Distribution Notices
Distribution notices out today:
Hamilton, Bermuda – January 27, 2009 – Teekay Offshore GP LLC, the general partner of Teekay
Offshore Partners L.P. TOO, has declared a cash distribution of $0.45 per unit for the quarter
ended December 31, 2009. The cash distribution is payable on February 12, 2010 to all unitholders of record.
February 5, 2010.Teekay GP LLC, [...]
Are Tanker Rates Headed Higher?
Capital Link Shipping | Investing In International Shipping Maritime.
A couple of comments on the above linked tanker market summary. Nice to see VLCC rates back above $85k. They averaged $25k for all of 2009.
There are only 50 VLCC tankers available in the Arabian Gulf for the next month. Typically, 90 of the big tankers are [...]
2009 Results for Shipping Stocks
To get started on 2010 and get this blog restarted I thought I would recap the overall results for shipping stocks in 2009. Compared to the broad market, the performance of shipping stocks overall lagged significantly. However, If you managed to pick upsome shares in early March, you probably did really well.
For the year, on [...]
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The shipping industry’s $350 billion debt
Felix Salmon » Blog Archive » The shipping industry’s $350 billion debt | Blogs |.
The blog post linked above from Reuters reporter Felix Salmon discusses the large amount of bank debt collateralized by ships. With the current glut of ship inventory, if a company goes under the amount the bank realizes from the sale of [...]
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Nordic American Tanker to pay record dividend
Record low that is! Nordic American Tanker NAT will pay a thin dime of a dividend for the 3rd quarter. NAT is a small tanker company with a fleet of suezmax tankers. The company employs their ships on the spot tanker market and pays a quarterly dividend based on what the revenues are for the [...]
Interesting news from Nordic American Tanker
A letter out today from Herbjorn Hansson, CEO of Nordic American Tanker NAT is my excuse to get back to writing articles for this site. Sorry about the time off. Most of the letter just reiterates NAT’s position on no debt, stable finances and low overhead and per day break even. For those of us [...]
Here is how the various Baltic Exchange shipping indices fared for the week ending 14 August.
Baltic Dry Index (BDI): -10.3%
Baltic Capesize Index (BCI): -14.4%
Baltic Panamax Index (BPI): -6.1%
Baltic Supramax Index (BSI): +1.4%
Baltic Handysize Index (BHSI): -0.7%
Baltic Dirty Tanker (BDTI): +5.2%
Baltic Clean Tanker (BCTI): -4.2%
Here are the results of the corresponding stock indices, courtesy of Capital [...]
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Nordic American Tanker results video