Surge in Shipping Risk Coverage Widens NordLB’s Loss

As a result of a huge increase in the risk provisioning for ship financing, German shipping bank Norddeutsche Landesbank (Nord/LB) closed the financial year 2016 with a loss of EUR 1.9 billion (USD 2.02 billion).

VLCC freight premium for W Africa loading widens as owners prefer short hauls

Worldscale rates for VLCCs on West Africa-to-Far East routes are at steep premiums to rates for Persian Gulf...