Mitsui O.S.K. Lines, Ltd. (MOL) plan to install a ballast water treatment system on an in-service very large crude oil carrier (VLCC). This will be the first such onboard system installed by any Japanese shipowner on an existing VLCC. The company chose the JFE Ballast Ace system developed by JFE Engineering Corporation. The installation will take place while the vessel is docked from March through April. Ballast water discharged while loading/discharging cargo carries marine organisms around the world and can have a negative impact on marine ecosystems and biodiversity. This has become a subject of global concern since the late 1980s. Accordingly, the International Maritime Organization (IMO) adopted the Ballast Water Management Convention in February 2004, and its ratification is under way. Ship details: Type of vessel: Very large crude oil carrier (VLCC) Ship registry/class: Marshall Islands/Nippon Kaiji Kyokai (ClassNK) Deadweight tons: About 300,000 tons Length: 333m Breadth: 60m The treatment capacity of the BWTS is 3,500m³/h x 2 units (explosion-proof), and the treatment method is of filters with chemical injection.
According to a January 3 report from Gulf News, Gulf Navigation Holding confirmed its acquisition of a very large crude carrier (VLCC). The vessel, built in 2006 and with a 300,000 deadweight tonne capacity, can carry up to two million barrels of oil.The Gulf Eyadah will join the operator's other VLCC, Gulf Sheba, which was delivered in late 2007. (Source: Gulf News)
Piraeus-based Hellespont Shipping Corp. has contracted Samsung Heavy Industries for the first two vessels in a new class of VLCC's. The contract also calls for the option to build two optional ships - with delivery beginning in the last quarter 2001. With a lightweight of 46,500-tons, the vessels will form a new standard for large tanker strength and speed - while equipped with various features. The ABS and LR-approved structures and scantlings will be 10 percent in excess of both rules.
Taiwan's state-owned Chinese Petroleum Corp (CPC) has bought two very large crude carriers (VLCC) of West African crudes via its September tender, a company official said on Thursday. The volumes were below CPC's usual purchase of three to four VLCCs per month. Each VLCC can load up to two million barrels each. "We have high inventories and not so much requirement," the CPC official said. The details of the tender, which closed on Monday, were still unclear.
Eastbound VLCC freight that nearly topped W200 in November is now firmly mired beneath W100. "The market's really lost its way, but much of that is just down to sentiment," said one London tanker broker. Wednesday's fixture lists showed a number of deals hovering around the W100 mark, and even the very modern New Circassia accepted W101 from Stasco for an eastbound trip. Friday's fixture list however, showed the slightly older Musashi Spirit had been fixed at W90 to Japan
Tsakos Energy Navigation Limited (TEN) recently acquired the 299,700 dwt double hull VLCC M/T Maersk Estelle, built in Denmark in 1994, from the AP Moller / Maersk Group. Initially, this vessel will participate in the current strong spot market while the Company considers opportunities for longer-term employment. TEN will assume ownership of the vessel during the later part of January 2004. "We are very excited about this latest addition to our fleet of young and environmentally friendly
MISC Bhd has bought four Aframax tankers from Japan's Tsuneishi Corp for $260m. The first unit of the 107,500-deadweight tonnage (DWT) tankers will be delivered in 2009, while the rest in 2010, MISC said in a statement. It added that the continuous expansion of MISC's petroleum fleet under American Eagle Tankers (AET), supported by regional offices in London, Singapore and Houston will provide it with the critical mass to better serve its customers globally.
DHT Holdings, Inc. says it has taken up its option to construct another VLCC at Hyundai Heavy Industries (HHI) shipyard in South Korea on the same terms as for two others ordered earlier. The contract price of US$92.7-million, includes certain additions and upgrades to the standard specification. The company's current orderbook thus consists of three VLCCs ordered at HHI that are scheduled for delivery in April, July and September 2016. About DHT Holdings, Inc.
Euronav NV today announced that it has sold its oldest double-hulled VLCC Luxembourg (1999 – 299,150 dwt), for $28 million (USD). The vessel is wholly owned by Euronav. The capital gain on that sale of about $6 million will be recorded at delivery. The net cash proceeds available to Euronav after the mandatory repayment of its debt obligation will be $5 million. The vessel is foreseen to be delivered to its new owner between May 1
DHT Holdings, Inc. has entered into a letter of intent with Hyundai Heavy Industries Co., Ltd. (HHI) in South Korea for the construction of three additional very large crude carrier vessels (VLCCs) at a contract price of $97.3 million each, including $2.3 million in additions and upgrades to the standard specification, for delivery in September, October and November 2016. This comes after DHT announced on January 8 that it declared an option to construct another VLCC at HHI for $92
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
Crude oil tanker earnings on the major Middle East route were steady this week, helped by light bookings although rates have yet to rebound after a recent surge late last month. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan <DFRT-ME-JAP> on Thursday
MOL President Koichi Muto informs in a letter addressed to company shareholders of a year-on-year decline in profits during the first quarter of fiscal year (FY) 2014, excerpted as follows: "I would like to report our business results for the first quarter of fiscal year (FY) 2014 (April 1
The series highlighting the world's most expensive active vessels from online ship intelligence and information service VesselsValue.com focuses this week on the most expensive tanker vessel, which is not a VLCC but a Jones Act aframax. The first-in-class double hull tanker Liberty Bay is an
Navios Maritime Acquisition Corporation Announces Delivery of One MR2 Product Tanker With Employment and Sale of One VLCC Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that the Nave Jupiter, a new building MR2 product tanker of 49,999 dwt
Crude oil tanker earnings on the major Middle East route remained under pressure on Tuesday as the market struggled to absorb a glut of tankers due to slower business. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan reached W36
The increase in domestic crude oil production is widely reported to have flipped US import requirements on their heads. While this holds true for light/sweet crude oil producers, there appears to be even more dependence on heavier/sourer crude oil suppliers in spite of the shale oil boom
Russian shipping company Sovcomflot, a global top-five tanker company, reported its financial results for the first quarter of 2014. The company, which offers crude oil, refined petroleum products and liquefied gas transportation services, recorded a “strong start” with highlights as
Navios Maritime Acquisition Corporation an owner and operator of tanker vessels, announced that the Nave Neutrino, a 2003-built VLCC of 298,287 dwt, was delivered today. The Company also announced that the Nave Neutrino has been chartered out to a quality counterparty for six months at
ASRY issued a statement detailing the yard's recent operational and business developments. Ship Repair After appointing Resolute Maritime Services as the agents in Greece an increased activity from Greek market can be observed at ASRY including one of the leading owners from Greece
This past January 5, 2014, Euronav NV announced the acquirement of 15 Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd. Today, Euronav has affirmed that eight of these VLCCs have been delivered. Deliveries of the 7 remaining VLCCs from the Maersk fleet are scheduled
EURONAV announces that it has raised $125 million in total in gross cash proceeds through a private placement of 10,556,808 new shares to institutional investors selected through an accelerated book build offering. Following strong demand, Euronav decided to upsize the initial offering from $100
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.
Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured a Floating Storage Production Offloading (FPSO) conversion contract worth about S$600 million from Saipem SA, France for the conversion of Two FPSOs for the Kaombo Project in Offshore Angola.
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