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Scorpio Tankers on Major Fleet Expansion

Scorpio Tankers

  Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced today that it has reached an agreement with an unrelated third party to purchase an MR product tanker that is currently under construction at SPP Shipbuilding Co., Ltd. of South Korea ("SPP"). The purchase price of the vessel is $37.1 million with delivery expected in September 2014.   Newbuilding Vessel Deliveries The Company recently took deliveries of two MR product tankers, STI Dama from SPP and STI Olivia from Hyundai Mipo Dockyard of South Korea. Upon delivery, both vessels began time charters for up to 120 days at approximately $18,000 per day. Scorpio Tankers currently owns 33 tankers (one LR2 tanker, two LR1 tankers, four Handymax tankers, 25 MR tankers, and one post-Panamax tanker) with an average age of 2.0 years, time charters-in 26 product tankers (eight LR2, six LR1, four MR and eight Handymax tankers), and has contracted for 42 newbuilding product tankers (20 MR, 11 LR2, and 11 Handymax ice class-1A product tankers), 28 are expected to be delivered to the Company throughout 2014 and 14 in 2015.


Scorpio Takes Delivery of STI Veneto

Tanker LR2

  Scorpio Tankers Inc. has taken delivery of STI Veneto, an LR2 product tanker from Hyundai Samho Heavy Industries Co., Ltd. This vessel will begin a voyage for 60 days at approximately $32,000 per day. With this Scorpio Tankers owns 63 tankers (nine LR2 tankers, two LR1 tankers, 15 Handymax tankers, 36 MR tankers, and one post-Panamax tanker) with an average age of 1.3 years, time charters-in 21 product tankers (six LR2, five LR1, three MR and seven Handymax tankers)


New Tankship Joins Rapidly Expanding Scorpio Fleet

Image credit Scorpio Tankers

Scorpio Tankers Inc. inform they have taken delivery of another MR product tanker newbuilding in their ambitious newbuilding programme, 'STI Opera', from Hyundai Mipo Dockyard Co., Ltd. of South Korea. The owners add that the new vessel will be chartered-out for up to 120 days at approximately US$19,000 per day. About Scorpio Tankers 
 Scorpio Tankers Inc. currently owns 21 tankers (one LR2 tanker, four LR1 tankers, one Handymax tanker, 14 MR tankers


Heindenreich Marine Develops Product Tanker Pool

Heindenreich Marine has created a new global clean petroleum product tanker pool - Dorado Tankers - to be managed from Heidmar's new office in Darien, Conn. The focus of the new company will be to operate product tankers under a common umbrella - similar to the Star Tankers' panamax pool. Heidmar also reported that it has elected David G. Palmer as vice president of the company, as well as managing director of Dorado Tankers


LR2 Product Tanker Joins Scorpio Tankers' Fleet

Scorpio Tankers Inc. Announces Delivery of a Newbuilding LR2

  Scorpio Tankers Inc. today took delivery of STI Alexis, an LR2 product tanker from Daehan Shipbuilding Co. Ltd. This vessel will begin a voyage for 52 days at approximately $33,500 per day. The Company has also exercised an option to extend the charter on one of its time chartered-in LR2s for six months at $16,250 per day, commencing in March 2015. Earlier last week, Scorpio Tankers took delivery of STI Veneto, an LR2 product tanker from Hyundai Samho Heavy Industries.


Tanker for Sovcomflot Delivered

STX Shipbuilding delivered the new product tanker, SKF Neva, to Sovcomflot JSÑ. The first product tanker of the series, the keel was laid on May 30, 2006. The 600 x 106 ft.-tanker is 46.520 tons dwt. The tanker, to be deployed from Primorje, including Vladivostok, to the ports of the South-East Asia, will transport crude oil, oil products, vegetable oils and coal oils. Source: SeaNews


Japan's Biggest Shipping Firm to Add More LNG Tankers

Nippon Yusen KK, Japan's biggest shipping company, has upwardly revised its plan to expand its fleet of liquefied natural gas (LNG) tankers, a major Japanese financial paper reported Wednesday. Nippon Yusen's initial business plan called for it to either own or have invested in the construction of about 60 such tankers by fiscal 2010. It has now raised that figure to roughly 80-100 tankers, the Nikkei Shimbun said.


JO Tankers Order 8 MR Product Tankers from China Shipyard

Image courtesy of JO Tankers

JO Tankers has placed an order for eight 33.000 dwt stainless-steel chemical tankers at China’s New Times Shipbuilding, with deliveries scheduled for 2016 and 2017. The deal consists of firm and optional contracts. The new buildings will join Milestone Chemical Tankers – the jointly owned chartering and marketing arm of JO Tankers and Tokyo Marine.

 JO Tankers say that the new-buildings will be built to the highest specification


Tanker Freights’ Declining Rate to Continue

Global tanker freight rates may be depressed for several more years as a stream of new vessels hit the market and shipowners refrain from scrapping older ships. However, a recovery is likely toward the end of the decade as more single-hulled tankers are taken off the market to meet regulations for safer ships. Tanker rates jumped to record highs in 2004 as a surge in oil trading and demand strained available fleet supply


Sigma Tankers Expands Fleet

Heidmar Inc. announced that Mercator Lines Limited of India China Shipping Development and Conti Reederei of Germany will be joining the Sigma Tankers pool and that Emirates Trading Agency of Dubai an existing member of both Sigma and the Heidmar managed Dorado Tankers pool, will be entering two more vessels into Sigma Tankers.   Mercator and China Shipping, also members of the Dorado Tankers pool, will enter one vessel each into Sigma Tankers


Skangass Celebrates Topping Up

LNG terminal in Pori: NOK Skangass

 Nordic liquefied natural gas operator Skangass  has celebrated a topping out ceremony at its Pori LNG terminal. The company said it was making progress in the construction of the storage tank for Finland's first LNG import terminal at the southern port of Pori.  


MISC Says AET Tankers Unit Not for Sale

Photo: AET

MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers. The company said, “Petroleum shipping is a core element of [MISC’s] current and ongoing business and, as such


SDARI Inks Agreement for INTERSCHALT Loading Software

Mr Hu Jintao, President of the chinese ship designer SDARI, (middle) and Mr Wang Jun, Director R&D Departmant at SDARI (left) agree with Mr Robert Gärtner, CEO of the maritime software provider INTERSCHALT, the co-operation for MACS3 loading computer.  (Photo: Interschalt)

INTERSCHALT maritime systems AG, a maritime software and services provider of loading computers on board containerships, signed a cooperation agreement with the Shanghai Ship Research and Design Institute (SDARI) in Shanghai for the provision of MACS3 loading software for containerships


Strong Tanker Market Extends Peak Season High Earnings

BIMCO oil tanker earnings.jpg

Tanker earnings for crude oil tankers have climbed to new strong levels in the first quarter of 2015, with averages not seen since 2008, the Baltic and International Maritime Council (BIMCO) reported.   The demand for crude oil tankers remains high even though the winter months are far


Asia Tankers-VLCC Rates Soar

Middle East VLCC rates hit $69,500 a day; daily VLCC rates average $51,000, highest since 2008 (Clarkson). Rates for very large crude carriers (VLCCs) on a key Asian route jumped to a three-month top this week, but prices are likely to soften as charterers hold back cargoes amid a slight


MISC may Sell AET Tanker Holdings

Eagle Kuching. Vessel Type: Aframax. By AET

  MISC Bhd  is selling AET Tanker Holdings Sdn Bhd, which owns a fleet of 74 crude oil and product tankers, to US-listed Teekay Tankers Ltd, reports local media.   AET is a wholly-owned subsidiary of Malaysia's MISC Bhd. and a major global shipowner and operator with a fleet of


USCG Medevacs Man from Tanker 12 mi off Galveston

The new 45-foot response boat-medium boasts Courtesy USCG

  A Coast Guard boatcrew medevaced a 46-year-old man from an oil tanker in the Galveston Fairway Anchorage Wednesday evening. At approximately 3 p.m., Coast Guard Sector Houston-Galveston watchstanders received a phone call from the captain of the 580-foot Jupiter Ace stating that a


Tug Crew Commended for Emergency Rescue Tow

Crew members of Crowleys tugboat Alert receiving USCG commendation (Photo: Crowley)

Crowley crews commended by U.S. Coast Guard for assistance during Kulluk emergency rescue tow   Captain Rodney Layton and his crew aboard Crowley’s Prevention and Response tugboat (PRT) Alert were recently recognized by U.S. Coast Guard (USCG) Capt


Scorpio Bulkers Confirms Vessels Selloff

Photo: Scorpio Bulkers Inc.

 NYSE-listed Scorpio Bulkers confirmed the sale of seven newbuildings for a total of $290mln  to an unnamed buyer, said a company press release.   The newbuildings comprise three capesizes and a kamsarmax bulk carriers, and three LR1 product tankers.   


They said it ...

Joseph Bennett, EVP and Chief Investor Relations Officer, Tidewater, Inc., on rapid decline in oil pricing from mid-2014 to today.

“While the dry cargo market was depressed in most of 2014, the year ended with sharply increasing rates in the tanker market, and our tanker department generated the best results since 2008. The strong tanker market has continued into 2015.”


New Tanker Designs Feature Reduced Ballast Capacity

Dalian Shipbuilding Industry China yard (Photo courtesy of Lloyd’s Register)

‘Clear Advantage’ tanker design series is reported to reduce ballast requirements by 40%. Ready to be built, the designs combine operational and environmental performance improvements   Dalian Shipbuilding Industry China (DSIC), Dalian Ocean Shipping Co


New CEO for Evergas

Mr. Steffen Jacobsen is appointed as CEO courtesy Evergas

  Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk. He brings a wealth of leadership experience in both commercial and technical management


Suezmax Tankers Bullish

 Suezmax: By Palmali Group of Companies

Global fixture activity for suezmax crude tankers rose in the first quarter by 5% year on year, with most of the activity coming out of West Africa.   Suezmax fixtures out of the Caribbean rose by 48%, most of which headed to the US Gulf and East coast Panama.  


MacGregor's Pusnes bow loading systems for Suezmax Tankers

The Pusnes bow loading system enables a shuttle tanker to safely and efficiently load oil from an offshore production or storage facility

  MacGregor, part of Cargotec, has secured contracts to supply Pusnes bow loading systems for three newbuild shuttle tankers intended for operations in Brazilian waters. The order was booked into first quarter 2015 order intake.  


Tanker Lifts One Million Barrels of Crude at Hariga

A tanker left Libya's eastern oil port of Hariga after lifting one million barrels of crude, an oil official said on Thursday. No new tanker was expected in the next few days, said the official, asking not to be named. The terminal located in the eastern city of Tobruk had closed over the






 
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