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.
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
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.
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
China COSCO Shipping, which uses bulk carriers and container vessels to transport goods, has seen its cargo business decline amid China's slowdown and has decided to get into the offshore wind power generation business, reports Nikkei.
Freight rates for shipping containers from ports in Asia to Northern Europe jumped 37 percent to $720 per 20-foot container (TEU) in the week ending on Friday, a person with access to data from the Shanghai Containerized Freight Index told Reuters.
The prices of WTI and Brent crude briefly rose above $50/bbl during intraday trading on Thursday, the highest level seen since the end of July 2015, giving traders a brief moment of optimism, says a report from Alibra Shipping Research.
After the oil industry suffered from a severe drought in Venezuela, forest fires in Canada and rebel attacks on oil installations in Nigeria, it is now facing the consequences of a national strike in France, where members of the trade union CGT have organized strikes at the country’s
Cuba's chronic goods trade deficit widened by $1.5 billion in 2015 as exports fell 24 percent and imports rose 3 percent, the government said on Wednesday, in the first data showing a commodity crash has hurt the economy. The information
In a sign the massive Alberta wildfire is taking a toll on oil transport, Canadian crude exports to the United States dropped 12 percent last week, while another blend of Canadian sweet crude oil rallied as concerns grow about supply.
A tanker that had been blocked for three weeks in a stand-off over oil exports at the eastern Libyan port of Marsa al-Hariga entered the port and began loading on Thursday, officials said. The Seachance, which had been waiting to load oil for Glencore on behalf of the Tripoli-based National Oil
Container shipping firms' annual costs have risen by a total $500 million due to new sulphur emissions regulations that have forced vessels to use higher cost fuel, the OECD said in a report on Thursday. Rising fuel costs will further hurt an industry already stung by overcapacity
Mammoet delivers full logistics scope for FPSO module integration project On April 6, Mammoet, a service provider specializing in engineered heavy lifting and transport, completed a load-out of the first set of four modules bound for the FPSO (Floating Production
Scandlines focused the business on the Germany-Denmark routes and made significant investments in future-proofing the group’s ferry operations as well as catering and retail activities in 2015. Efforts to promote the Rostock-Gedser route paid off for Scandlines having recorded the highest
Worst over for Aframax market as fuel oil cargoes lift rates. Freight rates for very large crude carriers (VLCCs) could slide further before finding a floor and recovering on a rebound in chartering activity, ship brokers said on Friday.
Multimodal network operator Samskip and inland waterway transport provider Pro-Log are celebrating the 10th anniversary of barge operations connecting Rotterdam and Duisburg by adding a second vessel, increasing service frequency to six times weekly.
50 years after the beginning of modern container shipping in Germany, international trade is handled by 6,397 containerships, with a capacity of 21.1 million TEU. Hapag-Lloyd’s container fleet numbers among the largest in the industry.
Nearly two dozen vessels were queued outside the French oil import terminal in Fos, southern France on Thursday, held up by a strike organised by the hardline CGT and FO unions over planned labour reforms. A spokeswoman for the port of Marseille told Reuters that yesterday 29 oil
1943 - USS Saury (SS 189) attacks a Japanese convoy south of Kyushu and sinks transport Kagi Maru, about 10 miles north of the Nansei Shoto. Also on this date, USS Whale (SS 239) sinks Japanese gunboat Shoei Maru (which is transporting men of the Guam Base Detachment) about 17 miles