Team Tankers International Ltd. Announces 2nd Quarter 2018 Results

Team Tankers International Ltd. (OSE: TEAM) reported EBITDA for the 2nd quarter of $6.7 million, compared with $2.5 million in the 1st quarter of 2018 (Q2’17: $3.1 million). Net income in the 2nd quarter of 2018 was $4.4 million compared with a net loss of $7.3 million in the 1st quarter of 2018 (Q2’17 net
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Libyan crude oil output has risen above 1 million b/d for the first time in two months, but many shipowners remain wary about transporting Libyan cargoes due to security concerns and these stems are attracting a hefty freight premium as a result, sources said Friday. Firstly, there are still security concerns for some shipowners as
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Navig8 Chemical Tankers sank deeper into loss in the second quarter of 2018 due to lower gross average daily time charter equivalent (TCE) rates. Net loss widened to USD 5.7 million for the three months ended June 30, 2018, compared to a net loss of USD 3.6 million seen a year earlier. The change is mainly
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Highlights: – On July 25, 2018, we announced our 84th consecutive quarterly dividend ($0.02 per share). This is an unparalleled dividend performance in the volatile tanker industry. With improved market conditions, higher dividends can be expected. – The time charter equivalent for our vessels during 2Q2018 was $10,500 per day per ship. In 1Q2018 it
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Several clean products tankers were seen on subjects in Brazil to load gasoline cargoes in August, as increased domestic competition with ethanol led to a surplus of gasoline stocks, sources said. “Our cars here work with gasoline and with ethanol, and the ethanol price is now more attractive than gasoline. People are using more ethanol
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Seven Saudi tankers appear to have shut off their transponders that make their position visible to the world after last week’s Houthi attack on two VLCCs in the Red Sea, according to S&P Global Platts trade flow software cFlow. Two unnamed Saudi-owned VLCCs were attacked off the west coast of Yemen last week, prompting state-owned
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Scorpio Tankers Inc. announced yesterday that the Company has signed an agreement to purchase 55 ballast water treatment systems from Ecochlor, Inc. (“Ecochlor”). Installations are expected to begin in the fourth quarter of 2018 and continue to the end of 2022. Scorpio Tankers will also become a minority shareholder in Ecochlor. Emanuele Lauro, Chairman &
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MUMBAI: Global shipping major Maersk Tankers is ramping up its presence in India and is also in talks for an Intra-Country coastal movement of oil products courtesy the relaxations in rules, a top official has said recently. Maersk Tankers opened a subsidiary in the India only this year, its sixth office globally, and already employees
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Limiting supply growth is the key priority for the crude oil tanker market to brave the storm as ever more complex geopolitical tensions between world powers bring harsher headwinds on the demand side, Peter Sand, BIMCO’s Chief Analyst, said in an interview with World Maritime News. Namely, tensions between the United States, China and Iran
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Driven by weak earnings, firm prices for scrap steel and the need to prepare fleets for strict new environmental regulations, the shipping industry is all set to scrap the largest number of oil tankers in over half a decade this year. This surge in scrapping underscores how the sector is coping with one of its
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