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
Crowley Maritime Corporation’s tanker escort and docking services group in Valdez is celebrating over seven million man hours and more than six years since logging its last Lost Time Injury (LTI). In addition to this remarkable number
Offshore marine and engineering consultancy Aqualis Offshore, part of Oslo-listed Aqualis ASA, has been contracted by Gas Entec Co. Ltd to provide an engineering study of a new-build LNG barge that will operate offshore the U.S. The contract value is undisclosed.
Spring is the busiest season for United Yacht Transport, the North American leader in boat transport. The international boat transporters are set to complete various shipments in the upcoming months. In the beginning of the year
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
Greece's biggest oil refiner Hellenic Petroleum agreed on Friday to buy crude oil from the National Iranian Oil Company (NIOC), the first European refiner to restart trade relations with Iran after the lifting of international sanctions.
The Indian government’s has been going all out to put the growth of the Indian maritime Industry on a fast track by opening up a host of opportunities, offering goodies and putting in place new facilities. Setting the tone for his keynote address at the 9th Biennial International Conference
The SENER engineering and technology group will celebrate its sixtieth anniversary in 2016. It has grown into a multidisciplinary international group which offers solutions in Aeronautics, Engineering and Construction, and Energy and Environment.
The chemical and product tanker Stena Imperative was yesterday named at China Merchants Wharf in Hong Kong. The vessel, an IMOIIMAX MR tanker, is wholly owned by Stena Bulk and was delivered a few days ago from the Chinese shipyard CSSC Offshore & Marine Engineering (CSSC OME*) in
McQuilling Services has announced the release of the 2016-2020 Tanker Market Outlook. This report is a five-year outlook for eight vessel classes across 18 benchmark trades and represents the company’s 19th forecasting cycle
Iran is slowly winding down stocks of oil stored on tankers close to its shores and the process is likely to take longer than Tehran had wanted, despite the lifting of international sanctions this month. The pace of sales taken from floating storage highlights the difficulties Iran is facing
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 13.9 percent to $469 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
U.S. energy firms cut oil rigs for the sixth straight week, data showed on Friday, and were expected to shed more in coming weeks with three major U.S. shale oil companies slashing their spending plans after crude prices hit 12-year lows.
The Chinese Ministry of Transport has announced that from April 1, 2016, vessels ‘at berth’ at the core ports in the Yangtze River Delta (YRD) emission control area (ECA) must use fuel oil containing 0.5 percent sulphur or less. These core ports are Shanghai, Ningbo-Zhoushan
Optimarin has consolidated its position within the EX approved ballast water treatment (BWT) segment with a 10 vessel contract from Atlantis Tankers Group and its management arm Armona Denizcilik, the company announced. The Norwegian BWT specialist will now provide its solution to two newbuildings
Israel’s shipping firm ZIM Integrated Shipping Services has launched an extensive program aimed at changing its organizational structure. The change is based on the company's business plan to focus on profitable trade areas in which ZIM enjoys competitive advantage.