Tsakos’ TEN Ltd. Reports First Half Losses of $21 Million

TEN, Ltd (TEN) Friday reported results (unaudited) for the quarter and half-year ended June 30, 2018. Q2 2018 SUMMARY RESULTS TEN’s fleet earned $124 million in gross revenues and $4.2 million in operating income. Excluding a marginal loss of $0.4 million from the sale of the VLCC Millennium, the Company incurred a net loss of
Complete Reading

OPEC crude production rose in August to the highest level this year as a recovery in Libyan output helped to offset a cut in Iranian exports due to U.S. sanctions. The group’s 15 members, which now include the Republic of Congo, collectively produced 32.74 million barrels a day last month, an increase of 420,000 barrels
Complete Reading

OPEC oil output has risen this month to a 2018 high as Libyan production recovered and Iraq’s southern exports hit a record, a Reuters survey found, although a cut in Iranian shipments due to U.S. sanctions limited the increase. The 15-member Organization of the Petroleum Exporting Countries has pumped 32.79 million barrels per day in
Complete Reading

Shanghai rebar steel futures dropped for a seventh straight day on Thursday and marked their steepest daily fall since March as investors continued to lock in gains following a rally that pushed prices to a seven-year peak. Coke prices sank more than 5 percent, also after a recent rally to a record high. Analysts, however,
Complete Reading

Chinese steel futures dropped for a sixth straight session on Wednesday, surrendering initial gains after Beijing’s state planner warned the economy is facing increasing risks in the second half of the year. The head of China’s National Development and Reform Commission said the government needs to exert bigger effort to achieve key development goals. Analysts,
Complete Reading

Shanghai rebar futures pared losses on Thursday to close near a six-year peak reached in the prior session on expectations further output curbs in China could keep supply tight in the world’s top producer. On top of ongoing restrictions at industrial plants in many Chinese cities, Beijing is planning to impose production curbs for a
Complete Reading

The nationwide transporters’ strike, which was ongoing at the time of going to press, has resulted in losses of over Rs 10,000 crore and Rs 2,000 crore in Maharashtra alone as lakhs of trucks stayed off the roads, it is learnt. The indefinite strike, called by the All India Motor Transport Congress (AIMTC), commenced on
Complete Reading

Steel and iron ore futures in China extended losses on Wednesday, still pressured by worries over a widening trade spat between Beijing and Washington, although losses were more modest compared with the previous session’s slide. Slower construction demand in China, the world’s top steel consumer and producer, also weighed on steel prices, with iron ore
Complete Reading

Create Account



Log In Your Account