China makes first-ever US SPR crude oil purchase

PetroChina International has bought crude oil from the US Strategic Petroleum Reserve — the first such purchase by a Chinese company — in a move that further underscores growing Chinese interest in US crude.

Frontline Buys Two VLCC Resales

John Fredriksen-controlled tanker owner and operator Frontline has reached an agreement to buy two very large crude carrier (VLCC) resales from South Korean Daewoo Shipbuilding & Marine Engineering (DSME).

UN Ro-Ro to Expand Coverage with Ulusoy Shipping

Turkish owner and operator of cargo ships UN Ro-Ro Isletmeleri has decided to expand its coverage with the purchase of its compatriot Ulusoy Shipping Group.

DryShips Wraps Up First VLGC Purchase

Greek owner of drybulk carriers DryShips Inc. has acquired a very large gas carrier (VLGC) for a price of USD 83.5 million, the first vessel under a “zero cost” option agreement signed earlier in January.

Stolt-Nielsen Gets Green Light for Jo Tankers Purchase

Oslo-listed shipowner Stolt-Nielsen Limited has received unconditional Competition Authority approvals of the company’splans to acquire the chemical tanker operations of Jo Tankers.

China’s Harbor Purchase Is Luring Other Investors, Greece Says

China’s purchase of a 67 percent stake in Piraeus Port Authority SA, Greece’s largest harbor, is luring other foreign investors to the country’s transport sector, said Stergios Pitsiorlas, chairman of the Hellenic Republic Asset Development Fund.

Clipper behind the purchase of Norden handysizes

Clipper Group has confirmed that it is the buyer for four handysize bulk carriers sold off by Norden.The...