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
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
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
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
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
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
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.
General Dynamics today reported 2014 second-quarter earnings from continuing operations of $646 million, or $1.88 per share on a diluted basis, compared to second-quarter earnings from continuing operations in 2013 of $640 million, or $1.81 per diluted share
The U.S. Coast Guard informs that along with several federal, state and local partner agencies, it has formed a safety and assessment team with the owners of the disabled tanker 'Pine Galaxy' to ensure the safety of the ship’s crew and finalize plans for the ship to be brought into the Port
The U.S. Coast Guard, along with several federal, state and local partner agencies, have formed a safety and assessment team with the owners of the disabled tanker Pine Galaxy to ensure the safety of the ship's crew and finalize plans for the ship to be brought into the port of San Francisco for
General Dynamics NASSCO and City of San Diego Mayor Kevin Faulconer today signaled the start of construction of five American Petroleum Tankers at a steel cutting ceremony for the first tanker, the APT-1, at the NASSCO shipyard in San Diego.
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
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.
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
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
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
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.
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