Mitsui O.S.K. Lines, Ltd. has decided to scrap five double-hull tankers (four VLCCs, one Suezmax) by the end of March 2012. Scrapping of two vessels is already completed, and preparations are under way to start dismantling the other three. All five tankers were crude carriers launched before 1998. MOL, as one of the world’s leading crude oil transport operators, is moving ahead to rejuvenate its fleet, upgrade the quality of its services, and solidify its position in the market, where it expects mid- and long-term growth. Meanwhile, the vessels will be scrapped at yards that conform to the “Guidelines to sell vessels for scrapping from an environmental viewpoint” stipulated by MOL.
Transport Minister David Collenette today announced that the federal government has successfully prosecuted the M/V Cala Palamos, a Cypriot-registered container vessel, owned by Nordpartner of Limassol, Cyprus and operated by Oldendorff K.E., based in Limassol, Cyprus, for the Canada Shipping Act (CSA) violation of unlawfully discharging an oily substance into Canadian waters. The pollution incident occurred while the vessel was berthed at Pier 36, in the Port of Halifax, on February 21
The Council of Intertanko elected Mr Stephen Van Dyck, Chairman of Maritrans Inc., as its new chairman, as nominated by the Executive Committee. Van Dyck said "It is an honor for me to be entrusted with the Intertanko chairmanship. While the buoyancy of the current freight market raises our spirits, there remains much work to be done in the next few years. My initial focus will be on sharpening our processes for guiding Intertanko; implementing a review of our mission and strategy; and
IMO Secretary-General Efthimios E. Mitropoulos has issued a call at the highest level for a coordinated and cohesive response, both internationally and nationally, to combat piracy off the coast of Somalia. In a Nov. 20 briefing to the UN Security Council, Secretary-General Mitropoulos told Security Council members about the scope and extent of the problem which, he said, was a matter of grave concern. He also outlined a series of actions the Security Council might consider taking to
Jeppesen agrees with Indonesian Navy Hydrographic Office to distribute Electronic Navigation Charts (ENC) for Indonesia including Straits of Malacca. With the completion of this agreement, Jeppesen says it will provide the worldwide commercial shipping industry with comprehensive ENC coverage for Indonesian waters — waters encompassing major Asian Pacific (APAC) trade routes critical to the flow of international commerce.
Tanker spot rates rise as oil price drops Tsakos Energy Navigation Ltd., a crude, product and LNG tanker operator, reached an agreement for a long-term time charter to a national oil company of a new DP2 suezmax shuttle tanker for delivery in the first quarter of 2017, with an option for a second vessel. This project will make a positive contribution to TEN’s bottom line. Shuttle tankers are a highly specialized sector
Lockheed Martin won a contract valued at more than $25 million to perform detailed design, construction, test and delivery of two Small Waterplane Area Twin Hull (SWATH) crew transport vessels that will provide service to Mexico’s national oil company, PEMEX. The Lockheed Martin design is based on its SLICE Small Waterplane Area hull form. The contract, awarded to Lockheed Martin by Hoteleria y Servicios Petroleros, S. A. de C.V
Vopak NV plans to sell its dry goods line agent business to unlisted Dutch freight transport and logistics company Royal Burger Groep. No financial details of the transaction were released. "The line agent usually transports dry goods, and Vopak is more an oil and chemicals shipper," a Vopak spokeswoman said. The planned sale includes the line agent activities in the Netherlands, Belgium, France, Germany and Switzerland, Vopak said
Conoco Inc. and Maritrans Inc. are jointly developing advanced shuttle tanker technologies to safely transport newly discovered deepwater Gulf of Mexico crude oil reserves to U.S. refineries more economically than current pipeline alternatives. Technologies being evaluated have the potential to greatly reduce the time between discovery and production of deepwater crude reserves. "The industry is actively exploring for the 10 billion barrels of crude oil reserves that are estimated to be
The giant corn harvest about to hit full stride in America's Midwest looks set to overwhelm storage and pile up outdoors, grain industry sources said, raising quality issues and making it hard to keep supplies moving. This year's record corn crop of 14.4 billion bushels alone would fill up 60 percent of the country's grain storage of 24 billion bushels. In total, with a record soybean crop too and hefty harvests of other grains including spring wheat
While declining Asian LNG prices have reduced margins on the long-distance LNG trade, causing spot-charter rates for LNG vessels to fall, LPG shipping earnings are forecast to remain buoyant on the back of low oil prices and the absence of fuel substitution.
French seismic group CGG said on Thursday it would further cut its fleet of seismic vessels after declining demand from oil and gas clients hit by the falling oil price led it to record an impairment and one-time charges of $643 million in the fourth quarter.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 6.5 percent to $938 per 20-foot container (TEU) in the week ended Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.
Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period. During the period, profit attributable to the owners of the group increased 3% year-on-year to HK$561 million
Truckers protesting high diesel prices in Brazil used road blocks to restrict the flow of soy, corn and other commodities in a key grain-growing region for a third day on Friday, threatening what is expected to be a record harvest. A group of transport companies and independent truckers are
A robust and sustained recovery in freight rates in both VLCC and Suezmax sectors gained traction during the fourth quarter of 2014 – a feature which has continued and expanded into Q1 2015, says press release from Euronav
Maritime New Zealand (MNZ) said it was monitoring the situation of a small oil spill at the Raroa platform, about 70 kilometres off the Taranaki coastline. The operator, the New Zealand branch of international oil company OMV, says about 250 litres of oil was spilt on Friday when a
Danish conglomerate A.P. Moller-Maersk may announce a second share buyback scheme in its 110-year history as early as Wednesday, analysts said, allowing it to reward shareholders as its oil unit takes a battering from a slump in prices. Further divestments from its large portfolio of companies
Kenya will start construction work next month on a long-delayed new port to be built on its northern coast, next to the historic trading town of Lamu, the presidency announced on Monday. The Lamu Port-South Sudan-Ethiopia Transport (LAPSSET) project is intended to include a port, new roads
Joe McGladdery, a partner with the London law offices of Wikborg Rein & Co, says that, while falling oil prices have exerted pressure on the LNG charter markets, the new generation of low-speed, dual-fuel LNG carriers now in service and on order remain an attractive option for owners and
Trident Alliance has invited representatives from national and European authorities and NGO’s to discuss how effective enforcement of sulphur regulations can be achieved on the high seas. The event will take place on March 3 during the European Shipping Week in Brussels.
Harris CapRock Communications has launched Harris CapRock One, a unified, fully managed satellite, wireless and terrestrial connectivity service designed to reduce customers’ voice, data and equipment management costs. Harris CapRock One is an integrated end-to-end service that
NewLead Holdings Ltd. announced today that it has entered into its first Contract of Affreightment for one of its bitumen tankers vessels, the Katerina L, for the transportation, within a ten month period, of a minimum of 31,000 tons of bitumen over ten voyages, or
Chief U.S. District Judge Catherine C. Blake sentenced Noly Torato Vidad of the Philippines, the Chief Engineer of the cargo vessel M/V Selene Leader, to eight months in prison, followed by one year of supervised release, for obstruction of justice and violating the Act to Prevent Pollution from
Cargo ship Lysblink Seaways, which ran aground on Scotland’s west coast February 18, will be transported to shelter this afternoon after a successful ship-to-ship fuel oil transfer was performed yesterday, the U.K. Maritime and Coastguard Agency (MCA) reported.