Anthony Veder Boosts Gas Pool Fleet
Anthony Veder, which operate gas tankers in all the segments of gas shipping, from LPG shipping to LNG shipping and from CO2 shipping to ethylene shipping, will take over the commercial management of five gas carriers of Chicago-based GATX Corp.The vessels will start trading in Anthony Veder’s gas pool in June, the Rotterdam-based shipowner said in a press note.With this transaction Anthony Veder further strengthens its position as liquified gas shipping company to a fleet of 38 ethylene, LPG and LNG carriers, it said.The gas carriers previously were part of the Norgas pool and will be renamed starting with Coral, the release noted.Three out of five vessels will transport liquefied petroleum gas and petrochemical gasses such as ethylene.
Eletson, Evergas Form Shipping Alliance
Eletson Gas and Evergas announced an alliance of the two companies that will trade the companies’ semi-ref/ethylene capable vessels. The new venture, to be called the E3 Pool, will commence trading on the 30th of January from the Eletson offices in Piraeus and London and the Evergas offices in Copenhagen and Singapore. The new commercial venture will control the 15-strong fleet of modern gas carriers that are currently trading. It will be joined by a further four vessels to be delivered to Eletson over the next twelve months and will create a single point of contact for cargo owners. A larger fleet will provide more flexibility and more options for Charterers…
Skaugen Goes to Red Again
Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities for long routes the petrochemical market. The gas carrier owner reported profit before and after tax of minus $ 5.1 million (loss) in Q2 2016. The same quarter a year ago profit before and after tax minus $ 0.5 million. Freight revenues amounted to $ 18.5 million in this year's 2nd quarter, against 15.7 million in last year. I.M. Skaugen SE’s (IMSK) core business is liquefied gas transportation. The fleet of 15 advanced gas carriers is operated in a revenue sharing pool managed by Norgas Carriers Pte Ltd.
Middle East Remains Only Low-cost Oil Source: New IEA Report
The rising demand for cleaner and flexible energy from two emerging major economies, China and India, may keep the petrochemical market tight, although the shale gas boom in the US is disturbing energy markets around the world, considers the International Energy Agency's (IEA) 'World Energy Outlook, 2013'. Large differences in regional energy prices are set to affect industrial competitiveness, influencing investment decisions and company strategies. The extraordinary rise of light tight oil in the United States will play a major role in meeting global demand growth over the next decade…
Kirby 1Q Results are Up
Kirby Corporation reported net earnings for the first quarter ended March 31, 2002 of $8,808,000, or $.36 per share, compared with $6,755,000, or $.28 per share, for the 2001 first quarter. The 2001 first quarter included $1,565,000, or $.07 per share, of goodwill amortization expense. In 2002, Kirby ceased the amortization of goodwill under SFAS No. 142. Revenues for the 2002 first quarter decreased to $131,437,000 from $133,128,000 in the first quarter of 2001. EBITDA per share for the 2002 first quarter was $1.19, the same as the 2001 first quarter. Joe Pyne, Kirby's President and CEO, said, "Kirby achieved record first quarter results despite a sluggish economy and weak petrochemical volumes. Approximately 60% of what Kirby transports are petrochemicals.
