Clipper Group's Bulk Ship Success Story
Clipper Group grows from a small ship owner/operator to a substantial size & celebrates 40 years in shipping. Clipper started primarily as an operator in the dry cargo segment. In the 1990's, the company grew to be a shipowner as well, and has since then taken delivery of 179 vessels. Today Clipper is a leading shipping group with a strong fleet and offices in 11 countries. Frank G. Jensen, Chairman of the Board and CEO of Clipper, joined the company in 1992. "In the 20 years I've been with Clipper…
Teekay Rating Raised
Standard & Poor's revised its outlook on Teekay Shipping Corp. to positive from stable. The outlook revision reflects Teekay's consistent, solid performance, which has resulted in a gradually improving financial profile, and expectations for more predictable cash flow generation due to the purchase of contract-based shuttle tanker operator Ugland Nordic Shipping ASA. Teekay's rating reflects a favorable business position as the leading midsize ("Aframax") crude oil tanker operator in the Indo-Pacific Basin, expanded presences in the AtlanticAframax tanker market and the North Sea Shuttle tanker market, and fairly conservative financial policies. These factors are offset by significant, but carefully managed exposure to the volatile tanker spot markets.