Wallenius Wilhelmsen Mothballs Vessels, Cuts Dividend
By Reuters on Mar 23, 2020 11:02 am
Wallenius Wilhelmsen ship
OSLO, March 23 (Reuters) – Shipping firm Wallenius Wilhelmsen, which transports cars and other vehicles from factories to markets, has cut its dividend to zero and will mothball up to 10 vessels as demand plunged amid the coronavirus outbreak, it said on Monday. The company also plans to scrap up to four older vessels, it added. Oslo-listed […]
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Saudi Arabia 🦖 Tanker Power Play Could Backfire as Oil Demand Shrinks By Reuters on Mar 23, 2020 10:52 am
🦖 Tanker ships at anchor
By Jonathan Saul and Dmitry Zhdannikov LONDON, March 23 (Reuters) – Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments. That could leave the kingdom stuck with tens of millions […]
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