Tankers International Expands to Suezmax Market
Tankers International has extended its coverage beyond the VLCC market to include Suezmax vessels. With the formation of a new pool, International Seaways, who today acquired sole ownership of Tankers International, will add their spot trading Suezmaxes to Tankers International’s long-standing platform.A dedicated Suezmax pool provides greater flexibility to secure cargoes across similar crude movements, while expanding optionality to routes beyond those accessible to VLCCs.Charlie Grey…
CMB Tech Eyes India, Ship Disposals as Q3 Results Shine
Belgian oil tanker company CMB Tech says it will focus on the fast growing market in India as it reported third quarter results above market expectations on Thursday, boosted by vessel disposals as it diversifies its fleet.After last year's Euronav-Compagnie Maritime Belge takeover, the group shifted strategy by selling 24 tankers to Frontline and acquiring CMB.Tech's fleet. It now operates a diversified fleet of around 160 vessels, including dry bulk, container, and chemical tankers, rather than focusing solely on oil transport with Very Large Crude Carriers (VLCC) and Suezmax tankers.CMB Tech shares fell 1.3% at 0817 GMT, extending a 7.1% decline over the past year.
