A chemical carrier joint venture in Singapore celebrated 30 years of partnership, Thun Tankers took delivery of the first in a new series, while other tanker companies are enjoying positive financial results from 2023 operations
NYK and Stolt Tankers commemorate 30th anniversary of chemical tanker joint venture
NYK Group and Stolt Tankers held a ceremony in Singapore in January to celebrate the 30th anniversary of the joint venture which was attended by NYK executive officer Yuji Nishijima and Stolt Tankers managing director Bjarke Nissen. They were joined by ENEOS Ocean Corp director Masahito Hirano - together they launched a new chemical carrier pool in October 2023.
Thun Resource delivered
The first in a series of eight Resource Efficient-class vessels has been delivered to Thun Tankers.
Thun Resource will be technically managed by MF Shipping Group, was built by Scheepswerf Ferus Smit, and is on a long-term charter to Nynas.
Thun Tankers chief commerical officer Joakim Lund said, “With Thun Resource delivered and in trade, we walk our sustainability talk, enabling Nynas with the most resource efficient, high-quality coastal tanker available for the trade.”
Ana Zambelli joins the board of DHT Holdings
DHT Holdings has announced the appointment of Ana Zambelli to the board of directors. The VLCC operator noted Ms Zambelli brings significant experience with more than 20 years in the energy sector in operational, commercial and finance roles having served as a managing director in Brookfield’s Private Equity Group, responsible for business operations in Brazil, as chief operating officer at Maersk Drilling, managing director at Transocean, and president of the Brazilian division of Schlumberger.
Another strong year for Stolt-Nielsen
Stolt-Nielsen Ltd has reported unaudited results for Q4 2023 and full year ending 30 November 2023. The company reported a Q4 net profit of US$98M with revenue of US$695M and net profit for the full year 2023 was US$297M on revenue of US$2,820M, compared with a net profit of US$281M from revenue of US$2,772M in 2022.
Euronav’s positive results for 2023 earnings
Euronav has released unaudited financial results showing a profit of US$1.2Bn in 2023 generating a profit of US$862M, compared with revenue in 2022 of US$854M and a profit of US$203M.
McQuilling Services releases 2024-2028 Tanker Market Outlook
Is it a Black Swan or the New Norm? is the theme with the view crude tanker markets continue to favour mid-sized tankers over VLCCs in 2024, as major VLCC hubs - the Middle East and West Africa - reveal tighter crude balances.
2025 is expected to find VLCC demand on the rise (+3.9%) as OPEC production increases and a potential contango structure supports higher VLCC utilisation in the context of a dwindling orderbook.
The report considers the impact of lifting US sanctions on Venezuela, which will notably support conventional VLCC demand to Asia, along with Aframax flows to the US Gulf, and Canada’s new pipeline project which is estimated to commercialise in H2 2024.
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