Bergesen Forecasts Strong Tanker Markets, Less Scrapping

Friday, May 12, 2000
Norwegian shipping group Bergesen d.y. ASA predicts that tanker markets would stay strong due to good demand for oil, but that the number of vessels sold for scrap would fall in 2000.

The company, one of the world's top shipping groups, reported a fall in pre-tax earnings to $10.2 million from $19.8 million in the first quarter of 1999.

"The tanker market is expected to stay strong in future due to the lifting of OPEC's production restraints as well as good growth in oil consumption," company officials said. OPEC and other nations including Norway relaxed restrictions on oil production from April 1 after a surge in prices to nine-year highs in early 2000.

"The number of ships sold for scrap is expected to fall compared to 1999 due to better earnings and a greater level of optimism," officials added. The company also forecast "weak growth" in shipping volumes in the very large gas carrier sector.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

UK North Sea Workers Give "Overwhelming" Support for Strike

Trade unions Unite and GMB said members working offshore in Britain's North Sea oil and gas industry had shown overwhelming support for industrial action in a consultative

Two ASD Tugs Delivered to URAG

URAG has taken delivery of two ASD 2411 Tugs to add to its existing fleet. Named Brake and Perfect, the new vessels have joined their sister ship Prompt in the

New Workwear Lifejacket Introduced

Ocean Safety has introduced a new range of workwear lifejackets.   The new Kru Workwear range completes Ocean Safety’s lifejacket offering, providing a wide choice

Finance

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Turkey Maritime Sector Alive & Kicking

Located on the periphery of two great continents, Turkey has benefitted from being in a favored position right at the center of an assertive and fast growing economic area.

Advanced Drillships a Burden for Owners as Business Slows

Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0965 sec (10 req/sec)