TEN (NYSE:TEN) said Tuesday it agreed to the construction of nine DP2 Suezmax shuttle tankers with 15-year employment contracts for Petrobras, with gross revenues from the project expected at ~$2B.

Expected gross revenues at $2.0 billionTEN to become one of the largest independent Shuttle tanker operatorsATHENS, Greece, March 18, 2025 ...

The Suezmax market is undergoing a profound realignment: major independent shipowners, such as Bergesen d.y., C.Y. Tung and Sanko S.S. have exited the Suezmax market over the course of the last ...

Nordic American Tankers (NAT) announced the expansion of its fleet on Friday as it agreed to buy a 2016-built vessel from a ...

Ocean Yield said it had bought the two ships and put them on eight-year bareboat charters to Nordic American Tankers in a deal that will add $90m to its Ebitda backlog. The leasing company said Nordic ...

Nordic American Tankers Ltd. (NAT) announced the acquisition of a Suezmax tanker built in South Korea, with delivery expected at the end of March 2025. The company has also agreed to purchase a ...

CEO Herbjorn Hansson said, “As previously communicated, we recently acquired a Sungdong (South-Korea) built suezmax tanker from a first-class ...

Dynacom Tankers and Polembros Shipping begin receiving newbuild tankers after major investments in recent years ...

US-listed Teekay Tankers has continued to offload older vessels following the acquisition of more modern ships. A US ...

The shift is likely due to their ability to discharge oil at shallower Chinese berths. Read more at straitstimes.com.

Potential upside exists if VLCC and Suezmax rates increase, driven by geopolitical factors and inefficient trading patterns, potentially pushing the stock price to $40. Main risks include economic ...