Tanker giant Frontline Management AS is expecting an upturn in earnings after the second quarter result came in weaker after a soft summer. The John Fredriksen-controlled company posted net profit of $187.6m on Friday, down from $230.7m in the same period of 2023. #shipping
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Shipping news as it happens TradeWinds, shipping's biggest news source, provides unrivalled news, opinion and intelligence by the best reporters, analysts and opinion shapers in the business. It's quality and insight can’t be found anywhere else. Our channels include; online news and breaking stories, the weekly newspaper (print and e-reader) business focuses and spotlight reports, TW+ quarterly magazine, Events, Alerts and App. tradewindsnews.com Privacy: https://www.tradewindsnews.com/privacy/privacy-policy
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Updates
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It is a sector that has been strong enough for long enough that #shipwners are in one way or another returning #capital to #shareholders. And for the major New York-listed product #tanker owners, it’s become a bit of an arms race on the #dividends front, as investor payouts keep growing by the quarter — with one notable exception. #shipping Joe Brady Hafnia Scorpio Group BW Group TORM https://lnkd.in/dERHGiB2
Dividend arms race in product tankers playing out with one major player missing in action
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A.P. Moller - Maersk is pivoting towards #LNG to fuel its #newbuildings at pace. The #methanol #pioneer is closing in on a huge stable of new #vessels, both for its own account and on time-charter #shipping #energytransition #futurefuel https://lnkd.in/dvT-CNrJ
Maersk lines up $6.6bn order run as LNG-fuel pivot takes shape
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Idan Ofer-controlled Cool Company Ltd (CoolCo) is offering its November-delivering #LNG carrier #newbuilding into several ongoing tenders and has locked away another of its existing #ships on a one-year #deal. https://lnkd.in/dSrZGApi
CoolCo offers in its next up LNG newbuilding in ongoing tenders
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In this week’s Green Seas podcast, we talk to Trafigura‘s Andrea Olivi about the role FuelEU Maritime will play in pushing lower-carbon fuels. https://lnkd.in/gmksuExc
Trafigura looks to FuelEU Maritime as decarbonisation game changer by Green Seas: A podcast by TradeWinds
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Oystein Kalleklev has a signature style when it comes to investor calls. T-shits and flip-flops were out of fashion today as the Avance Gas chief whet #investor appetite for monster #dividend following a $1bn VLGC fleet sale. Kalleklev turned to an iconic piece of Japanese art to drive his message home. The company’s second quarter presentation featured an amended version of Hokusai’s The Great Wave of Kanagawa, a woodblock print dating from 1831. Dollar bills were added to present a more modern version: The Great Wave of Dividends, according to the CEO. https://lnkd.in/dsAXKq2T
The Great Wave of Dividends: Avance Gas employs iconic Japanese art as investors wait on fleet sale payout
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A growing trend in the #shipping industry is seeing #wealthy #shipowners investing in #cleantech companies ahead of adopting these #technologies in their fleets. https://lnkd.in/dBdjg97h
Cash-rich shipowners pump money into cleantech ventures
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Norwegian institutional investors are big fans of #MPC #Container #Ships. Asset sales and a hike in profit forecast came alongside second quarter results today. https://lnkd.in/dyfng6J3
MPC Container Ships continues vessel sales as it hikes full-year profit forecast
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