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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, and one post-Panamax tanker) with an average age of 4.0 years, time charters-in 30 product tankers (nine LR2, four LR1, eight MR and nine Handymax tankers), and has contracted for 63 newbuilding vessels (30 MR, 12 LR2, and 14 Handymax ice class-1A product tankers and seven VLCCs), Of these newbuildings, 43 are expected to be delivered to the Company in 2014, 16 in 2015 and  four in 2016. The Company also owns 30% of Dorian LPG Ltd.  


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


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


ACP Issues Single Hull Tanker Guidelines for Transit

Panama Canal: Deadlines and Interim Procedures for the Definitive Phase-out of Single Hull Oil Tankers Issued Conscious of its responsibility to safeguard its waterway, the Panama Canal Authority (ACP) has determined that effective December 31, 2012, single hull (single side/single bottom, single side/double bottom, or double side/single bottom) oil tankers of 600 tons deadweight and over but below 5,000 tons deadweight will no longer be allowed to transit the Panama Canal if loaded with


Stolt Tankers Receives Full Refund for Cancelled Newbuildings

Stolt-Nielsen S.A. (Oslo Børs: SNI) said its wholly owned subsidiary Stolt Tankers B.V. received a full refund of $84.5 million plus accrued interest, as part of an early termination agreement with SLS Shipbuilding Co. Ltd. (SLS) of South Korea to cancel newbuilding contracts for two 43,000 dwt stainless steel parcel tankers.  The refund was for progress payments made by Stolt Tankers on the two ships, which were ordered in 2006 as part of a series of eight parcel tankers to be


Pirates Board SuezMax Oil Tanker off Somalli Coast

Operators Dynacom Tanker Management report their motor tanker 'Smyrni' hijacked by pirates in the Arabian Sea At approximately 1115 UTC on 10 May, 2012, an oil tanker managed by Dynacom Tankers Management Ltd. was reported hijacked while it was transiting the Arabian Sea. The Liberian-flagged Tanker, the M/T SMYRNI, is carrying a cargo of 135,000 MT of crude oil. The operators say that no communications have been received from the ship since the ship was boarded.


Jones Act Tanker Chartered for Airline Refinery

Delta Air Lines Inc's refining unit has chartered a U.S.-flagged oil tanker for the first time, allowing it to tap directly into cheap Texas shale oil as the company overhauls its supply strategy. Monroe Energy LLC, the Delta subsidiary that runs the airline's 165


Asia VLCC Rates Could Nudge Higher on Activity

Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering programme for the first 20 days of August, brokers said on Friday. The pause would come after charter rates from the Middle East to


Samudra Containership Rationalisation Hits Revenues

Samudra containership: Image courtesy of Samudra

Diversified Singapore-based containership owners Samudra Group reports registered revenue of USD 96.9 million for the second quarter ended 30 June 2014, a 7.6% decline from USD 104.8 million in the previous corresponding quarter, which they say is in line with the Group’s rationalisation of


Worrying Trend of Tanker Hijacks in SE Asian Waters: IMB

  The Piracy Reporting Centre (PRC) of the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) raises concerns over a worrying trend of small tanker hijacks in its 2014 half yearly report. Globally, 116 incidents of piracy and armed robbery against ships have been


Iraqi Kurdish Oil Nears US Port Despite Concern in Washington

A tanker carrying crude oil from Iraqi Kurdistan is just one day away from arriving at a U.S. port, according to ship tracking satellites, despite Washington's long-standing concern over independent oil sales from the autonomous region. The United Kalavrvta tanker


Wilhelmsen Secures Inert Gas System Orders

Breakthrough order in Japanese shipbuilding market sees largest ever capacity Maritime Protection IG units delivered for leading domestic owners. Wilhelmsen Technical Solutions (WTS) has secured multiple orders to supply its Maritime Protection Dry Inert Gas Generator (DIGG) systems for


Navios Announces VLCC Delivery

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced that the Nave Electron, a 2002-built VLCC of 305,178 dwt, was delivered to Navios Acquisition's owned fleet on July 21, 2014. The company also announced that the Nave Electron has been chartered out


Scorpio Tankers: Latest Financial & Ship Delivery News

Scorpio tankship: Photo courtesy of the owners

Scorpio Tankers Inc. says it has updated its stock buyback program; lists its latest new vessel deliveries, and gives the release date of its second quarter 2014 earnings report. Stock Buyback Program The company has purchased 6,327,861 of its common shares in the open market at an average


Sunken WW II Ship Oil Leak Plugged

Photo courtesy of Atlantic Coast Marine Group

Atlantic Coast Marine Group, Inc. successfully responds to World War II era motor tanker leaking massive cargo of oil into the Atlantic Ocean's waters. Beaufort, North Carolina-based Atlantic Coast Marine Group, Inc. (ACMG), a marine salvage, emergency towing and environmental services provider


Tankship Market & Return of Contango: Analysis

Crude carrier: File picture CCL

This week, the Brent price curve moved into contango on what was reported to be short-term physical oversupply. In their latest 'Tanker Opinion', Poten & Partners consider whether this is likely to be a long-lasting change (“Contango” is a term used to refer to a commodity price


Teekay Announces Public Offering

Teekay LNG Partners L.P. has announced  that it has agreed to sell 2,800,000 common units, which represent limited partner interests, in a public offering. Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 420,000 common units


Suezmax Vessel Delivered to NAT

Nordic American Tankers Limited (NAT) took delivery of its 21st Suezmax vessel, the Nordic Sprinter, built in 2005 at a shipyard in Korea. NAT agreed to purchase the vessel along with its sistership for $36.5 million each. NAT expects the delivery of the second vessel in early August 2014


Med Tanker Market Pins Freight Rate Hopes on Libya Oil Export Push

Rising oil exports from Libya after months of disruption helped push Mediterranean tanker rates to the highest levels in nearly six months on Wednesday, and shipping players expected more gains in earnings as shipments from the OPEC member step up.


Libya Oil Exports Stutter, Major Eastern Ports Await Restart

Libya will not be able to export oil through its two largest eastern ports before August, due to safety checks after a near year-long closure, a senior oil official said on Wednesday. The latest twist in a spiral of violence also casts a shadow over the vital deal two weeks ago to end the


Brightoil Eyes Upstream After Bohai Purchase

Hong Kong-listed oil trader Brightoil Petroleum Holdings Ltd said on Wednesday it expects its upstream business to be the key long-term growth driver for the group following its acquisition of oil blocks in China's Bohai Bay. Chief financial officer Danny Tan was speaking at a media briefing on






 
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