Overseas Shipholding Group, Inc. will build four 73,500 dwt coated Panamax product carriers, or LR1 tankers, at the SPP Plant and Shipbuilding Co. Ltd. based in Tong Yang, South Korea. The vessels are scheduled for delivery in 2010 and 2011. As product trades continue to shift and globalize, OSG is enhancing its fleet of larger size product carriers in order to better service its customer base. Larger size product carriers are more economical for customers, are a more flexible vessel and augment the Company's diverse fleet of crude oil tankers, medium- and long-range product carriers and liquefied natural gas (LNG) vessels. The new vessels bring OSG's total fleet to 147 vessels, of which 107 are operating and an additional 40 vessels are slated for delivery between 2007 and 2011.
Overseas Shipholding Group, Inc. signed an agreement with Parakou Shipping Ltd., an international shipping company based in Hong Kong, to time charter four product carriers for 10 years each. The vessels, two of which are already under construction, will be built by STX Shipbuilding Co., Ltd. in Korea and are scheduled for delivery to OSG in September and October 2006 and April and June 2007. The product carriers, all sister ships with a capacity of 51,000 dwt and six segregations
OMI Corp. has agreed to attain two 47,000-dwt product carriers from another owner that are currently under construction at Onimichi Dockyard in Japan. The vessels will be delivered to the company in September and late November 2000, upon which they will commence two time charters to an oil company. The company has also agreed to sell the 29,996-dwt product carrier Tiber, which was built in 1989, and is the last of its Polish built vessels.
According to wire reports, STX Shipbuilding of South Korea has won orders from two companies for seven chemical product carriers for a combined $210 million. Four 70,500-dwt product tankers are reportedly destined for SAF Bulk Maritime of South Africa, while three 45,800-dwt carriers are said to be going to Arminter of Monaco by the end of 2004.
Gorthon Lines has sold the forest-product carrier Stig Gorthon on private terms. Built in Sweden 1979, the vessel, which was delivered to its new owners on September 10, 2003, has a dwt of 8,670 mton.
General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), delivered the third ship of its State-class of product carriers to American Petroleum Tankers, LLC, a joint venture of the Blackstone Group. The ship is named Sunshine State, the state nickname of Fla. NASSCO began constructing the Sunshine State in August 2007. At a length of 600.4 feet, the double-hulled ship has a cargo capacity of approximately 331
South Korea's STX Shipbuilding Co. (067250.SE) said Wednesday that it received a $266.7M order to build six petrochemical product carriers. An STX spokesman said the South Korean shipbuilder won the order from a Hong Kong-based company, but declined to identify the company. STX will deliver the tankers - which will have the capacity to load 51,000 tons of petrochemical products - by Sept. 2009, the company said.
Great Eastern Shipping Company (GE Shipping) has taken delivery of its new building MR product tanker Jag Payal. The 37,159 DWT product tanker built at Hyundai Mipo Dockyard Co, South Korea has Ice Class 1 A notation. With the induction of Jag Payal, the company’s fleet of 44 vessels comprises 33 tankers (14 crude oil carriers, 17 product carriers, and 2 LPG carriers) and 11 drybulk carriers (1 capesize, 2 panamax, 5 handymax and 3 handysize) with an average age of 12.7 years aggregating 3
Belships fourth quarter operating income was $18.98, versus $7.8 million in 4Q 2002. The company's operating result totaled $4.2m. The operating income and operating result were affected by a strong dry bulk market. The product carrier business generated an operating result of $133,000 in the fourth quarter. The gas carrier business generated an operating result of $740,000 in the same period. The improvement is primarily due to the fact that, because of previous write-downs
Ship Finance International Limited (SFL), announced today that it has agreed to build two 114,000 dwt LR2 oil product carriers at a shipyard in Korea. The vessels are scheduled to be delivered during the second half of 2017 and will thereafter commence long term time-charters to a US based investment-grade energy company. The charter period will be minimum seven years with options to extend the charter period by up to two years
General Dynamics NASSCO has delivered Bay State, the fourth of five new Jones Act ECO Class product carriers under contract with American Petroleum Tankers (APT). The vessel was delivered on Monday, September 26 during a signing ceremony at the NASSCO shipyard in San Diego.
Corvus Energy Inc. has announced that it has been selected as the supplier of the lithium ion based energy storage system (ESS) for a new hybrid chemical tanker being built for Rederiet Stenersen AS of Norway. The chemical tanker will be the first vessel of its kind to utilize an ESS
There has always been a compelling story being told about how larger product carriers are the future, in particular the LR2s, says Gibsons Weekly Tanker Report. However, the sector has had a particularly challenging few months
U.S. shipbuilder General Dynamics NASSCO said it has sent the newly built Jones Act tanker Liberty to sea for testing and trials. The 610-foot-long Liberty set sail for the first time on Monday, February 20 to undergo sea trials before delivery later this year.
General Dynamics NASSCO hosted a christening ceremony for the first ECO tanker for American Petroleum Tankers (APT) under construction at the company's shipyard in San Diego. San Diego Mayor Kevin Faulconer spoke at the ceremony, and the ship’s sponsor, Mrs
Effective immediately, and until further notice, the Panama Canal Authority (ACP) will require transiting crude oil tankers, product carrier, and chemical tankers carrying cargoes with flashpoint of less than 18 deg. C, to cool their main decks with water by means of the on-deck water
SCF Novoship Technical Management has selected the Ecochlor Ballast Water Treatment System (BWTS) to be retrofitted on three Aframax Oil Tankers and one Product Carrier. All of these retrofits are to be carried out in 2016. “SCF Novoship Technical Management required a BWTS that is
On Saturday, April 23, General Dynamics NASSCO hosted a christening ceremony for the second Jones Act ECO Class tanker for American Petroleum Tankers (APT) under construction at the company's shipyard in San Diego. U.S. Representative Scott Peters spoke at the ceremony
U.S. shipbuilder General Dynamics NASSCO launched and christened Garden State, another ECO Class tanker due to join the Jones Act fleet. Launched and christened on Saturday, May 7, the new ship, will join the ranks as one of the most fuel-efficient and environmentally friendly product
On Thursday, May 19, shipbuilders at General Dynamics NASSCO delivered the Magnolia State to longtime customer American Petroleum Tankers (APT). The ECO Class tanker is one of the most fuel-efficient and environmentally friendly tankers in the world and symbolizes the emerging future of green
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
The 'Big Three'—Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries—hold $42.1 billion in loans between them. The firms closed out 2015 with combined losses of more than $6 billion, their earnings reports revealed.
ABS, a leading provider of classification services to the global marine and offshore industries, has completed a project with a group of leading Greek shipowners to support preparations for implementing the European Union’s Monitoring
In a comprehensive study, DNV GL in cooperation with MAN DT examined a set of scenarios for various versions of an LR1 product carrier to determine the most economically feasible fuel type to plan for. Considering the current volatile market situation
General Dynamics NASSCO Christens Fourth ECO Class ECO Product Carrier for American Petroleum Tankers. On Saturday, September 17, General Dynamics NASSCO hosted a christening ceremony for the fourth ECO Class tanker for American Petroleum Tankers (APT) under construction at the company's