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Product Carriers

OSG Orders Four Product Carriers

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.

OSG Signs Time Charter for Four

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

NASSCO Delivers Third Product Carrier

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

OMI Corp. Acquires Vessels

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.

Gorthon Lines Sells Forest Product Carrier

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.

STX Shipbuilding Wins Orders

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.

STX Shipbuilding Gets $266.7M Ship Order

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.

GE Shipping takes New Product Tanker

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 4Q Results

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

G E Shipping to Buy a Suezmax Crude Carrier

The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a 1,47,092 dwt, modern (double hull) Suezmax crude tanker. The 2000 built ship is expected to join the Company's fleet during the second quarter of FY 2007-08. The decision to induct the said vessel is with the objective of modernizing the tanker tonnage and to enhance the Suezmax fleet. The company's current fleet of 46 ships with an average age of 12.2 years aggregating 3

Oman Shipping Acquire 10 New Vessels

Image: Oman Shipping Company

 Ten new medium range product tankers will join the fleet of state-owned Oman Shipping Company (OSC) in the next one year, taking the total strength of the fleet to 53 from 43 now, reports Times of Oman.   According to the chief executive officer of Oman Shipping Company Tarik Mohammed

TEN Charters Tanker at 20% Premium

Tsakos Energy Navigation Limited announces two-year charter renewal at a 20 percent premium to prior contract reflecting strong tanker market fundamental, oil price levels positive for tanker markets   Greece-based crude, product and LNG tanker operator Tsakos Energy Navigation Limited

Tanker Training Solution Installed at Makarov

Photo courtesy of Makarov Training Center

IMO Secretary General Koji Sekimizu inaugurated the new Transas technological simulation complex for tanker personnel training installed at the Makarov Training Center, part of the Admiral Makarov State University of Maritime and Inland Shipping.

FORAN for Pertamina's Future Ships

Image Generic screenshot of FORAN FVIEWER

  FORAN has been chosen by state-owned company PERTAMINA to review the design of their future oil product carrier ships, under construction in a shipyard with the FORAN System. PERTAMINA, a company based in Jakarta, Indonesia, signed a contract with SENER Ingeniería y Sistemas S.A

GE Takes Delivery of New Vessel

Pic: Great Eastern Shipping Company Ltd

 The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of its new building Kamsarmax dry bulk carrier "Jag Arnav".    The vessel of about 81,600 dwt was built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines.  

STX Bags Order for Eight LR1 Tankers

LR1 tanker. Image by STX Offshore & Shipbuilding

 South Korean shipbuilder STX Offshore & Shipbuilding (STX O&S) has won an order for up to eight LR1 tankers with a total value of $ 375 million.    The contract provides for the construction of four oil tankers of 74,000 tons plus the ability to build four additional ships

NASSCO Starts Building APT’s 4th ECO Tanker

Congresswoman Susan Davis measures the first piece of steel for the fourth American Petroleum Tanker. (Photo: General Dynamics NASSCO)

Ceremony signaled the start of construction for APT-4 ECO Tanker, the fourth of five Jones Act tanker ships to be constructed at NASSCO for American Petroleum Tankers.   General Dynamics NASSCO signaled the start of construction of the fourth of five “ECO” tankers to be built

Keel Laid for SEA-Vista’s First ECO Tanker

General Dynamics NASSCO informs it has hosted a keel laying ceremony for the first Jones Act ECO tanker currently under construction for SEA-Vista LLC, at the company's shipyard in San Diego.    Eric Fabrikant, chief operating officer of SEACOR Holdings Inc

NASSCO starts Work on 3rd ECO Tanker

Courtesy of American Petroleum Tankers

  General Dynamics NASSCO signaled the start of construction of a third "ECO" tanker to be built for American Petroleum Tankers at a steel cutting ceremony at NASSCO's San Diego-based shipyard. As part of a five-tanker contract

Keel of First Eco Tanker for APT laid

Mrs. Katherine Faulconer, wife of Mayor Kevin Faulconer and First Lady of San Diego, welds her initials onto a steel plate that will be permanently affixed to the APT-1’s keel. Click on the image for hi res version.

  On Saturday, March 7, General Dynamics NASSCO hosted a keel laying ceremony for the first ECO tanker for American Petroleum Tankers (APT) under construction at the company's shipyard in San Diego. San Diego's First Lady, Mrs. Katherine Faulconer, was the honoree for the ceremony.

TEN Bags Storage Contract for VLCC

Tsakos Energy Navigation announces storage employment for VLCC vessel; low oil price boosts demand and spot rates and drastically reduces voyage costs   Tsakos Energy Navigation Ltd. (TEN) announced it has won a six month storage contract for a very large crude carrier (VLCC) vessel to an

NASSCO Cuts Steel on APT "ECO Tanker"

Kevin Graney, vice president and general manager of General Dynamics NASSCO. (Photo: Greg Trauthwein)

General Dynamics NASSCO started construction of another ship in its commercial shipbuilding backlog, starting construction of a second “ECO” tanker to be built for American Petroleum Tankers at a steel cutting ceremony in its San Diego shipyard. U.S. Rep

Speedcast Secures Deal with AMPTC

speedcast logo.jpg

SpeedCast International Limited announced that it has been awarded a multiyear contract from Arab Maritime Petroleum Transport Company (AMPTC), a provider of maritime transport services of hydrocarbon substances in the Middle East region.  SpeedCast will provide satellite network connectivity

Hyundai Heavy Plummets to Worse Loss Ever

A HHI-built LNG Carrier. (Source: HHI)

South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its worst-ever year as cost overruns mount up in new business lines it developed to counter a global glut of low-margin ship orders.

G E Shipping Acquires a Supramax Bulk Carrier & Sells "Jag Prachi"

Jag Prachi

  The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 2006-built Supramax Bulk Carrier of about 52,454 dwt. The company had contracted to buy the ship earlier this month. Earlier yesterday the company reported having delivered its 1991 built General Purpose Product

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