Sovcomflot Orders Four LNG-Fueled Aframaxes in Korea

The Russian state-owned shipping company Sovcomflot has placed an order for the construction of four 114,000 dwt Ice-Class IA Aframax tankers at South Korean yard Hyundai Samho Heavy Industries (HSHI).

Poor Chartering Market Pushes Pyxis Tankers to Loss

Having faced dire conditions in the chartering market, Greek product tanker company Pyxis Tankers suffered a full-year net loss of USD 5.8 million in 2016, compared to a net income of USD 3.5 million seen in 2015.

Report: Oman Shipping Secures Funds for 10 Tankers

Omani government-owned Oman Shipping Company (OSC) has secured USD 227 million in debt to finance the acquisition of ten tankers, Reuters said citing France-based Societe Generale.

ITOPF: Oil Tanker Spills See Downward Trend

The downward trend in oil spills from tankers continues, according to the latest annual statistics issued by the International Tanker Owners Pollution Federation Limited (ITOPF).

G E Shipping to Acquire Two Aframax Tankers

Mumbai-based Great Eastern Shipping Company (G E Shipping) has inked a contract to buy two Aframax crude carriers of about 105,000 dwt each.

Navios Maritime Acquisition Reports above Market Earnings

NYSE-listed owner and operator of tankers Navios Maritime Acquisition has seen its net income for the third quarter of 2016 drop to USD 8.8 million from a net income of USD 23.2 million reported in the same period a year earlier.

Euronav’s Profit Down amid Freight Rate Weakness

Antwerp-based tanker owner and operator Euronav NV has seen its net profit for the third quarter plunge to USD 0.1 million from USD 72.2 million reported in the same period a year earlier.