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BWTS Fitting on Japanese VLCC a First

MOL VLCC: Image credit MOL

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.  


Gulf Navigation to Buy Supertanker

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)


Hellespont Places Order With Samsung

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.


Chinese Petroleum Corp. Exercises VLCC Tender

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.


VLCC Rates

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


TEN Acquires VLCC

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 Buys Aframax Tankers

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.


Norway's DHT Holdings Orders One More VLCC

VLCC Tankship DHT Ann: Photo courtesy of DHT

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.


VLCC Luxembourg Sold, to Undergo FPSO Conversion

Luxembourg (Photo courtesy of Euronav)

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 Plans Three More VLCC Newbuilds

Photo: DHT

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


OSC Plans Fleet Expansion through 2018

Photo: OSC

State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report, the expansion is in line with a ramp-up in hydrocarbon, petrochemical and industrial investment throughout Oman.


Scorpio Tankers' Latest Sale & Purchase Deals

Scorpio tanker: Photo courtesy of the owners

Scorpio Tankers says it recorded a gain of US$51-million from the sale of the 7 VLCC newbuilding contracts announced earlier. In March 2014, the Company received the proceeds from the sale of the seven VLCC newbuilding contracts and recorded a gain of $51 million in the first quarter of 2014


North Sea: Potential VLCC Moves to South Korea

North Sea Forties crude differentials were unchanged on Wednesday in very quiet pre-Easter trade, with dealers still watching two potential VLCC shipments to Asia and the stuttering return of Libyan oil supplies. A strong early rally in flat-price Brent futures also kept traders on the sidelines


North Sea Crude-Forties eases, VLCC options narrow

Forties trades at parity with dated Brent; Competing Libyan barrels returning to market. Refining margins under pressure as capacity ramps up. North Sea Forties crude differentials eased on Thursday as the market remained sluggish ahead of the long Easter weekend and the window of opportunity


Euronav Announces Capital Increase for Maersk VLCCs

Photo: Maersk

Euronav today announced that the meeting of shareholders has approved a $300 million capital increase against issuance of 32,841,528 new shares to acquire 15 Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd. for a total acquisition price of $980 million, as announced January 5


BP: No VLCC liftings from UK's Hound Point in May, June

No very large crude carriers (VLCCs) will load from Britain's Hound Point oil terminal in May and June due to planned maintenance, a spokeswoman for operator BP said on Tuesday. Last week traders reported hearing that Hound Point's Jetty 1 would undergo fender and integrity work in May and June


Mideast Crude Tanker Earnings Slip, Ukraine Watched

By Jonathan Saul, Reuters Crude oil tanker earnings on the major Middle East route fell on Tuesday as a build up of vessels available for hire weighed on rate sentiment. Shipping markets continued to monitor developments in Ukraine after Russia sent military forces into the Crimea region of


Navios Acquisition Announces VLCC Delivery

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that the Nave Buena Suerte, a 2011-built VLCC of 297,491 dwt, was delivered today. The Nave Buena Suerte, one of the three VLCCs acquired in November 2013, was purchased for $57.0 million.


Divers Search Sunken Iraqi Oil Tanker

Sterling Global Operations diver preparing to descend to wreck of VLCC Amuriyah to check for unexploded ordnance. (Photo: Sterling Global Operations)

Sterling Global Operations (SGO) has been chosen to provide surface - supplied divers for unexploded ordnance search and removal and salvage operations for the sunken 82,000-ton Very Large Crude Carrier (VLCC) Amuriyah, an Iraqi tanker sunk near Bubiyan Island off the coast of Kuwait in Jan


Sovcomflot Reports on Slippery 2013 Financial Slope

SCF Melampus: Image courtesy of the owners

SCF Group (Sovcomflot)
 has released its audited financial results for the year ending 31, December 2013, indicating a slip in profitability during what they describe as another challenging year for the international tanker industry. 2013 Financial Highlights


North Sea Crude-Forties up on Lower May Supplies

North Sea Forties crude differentials rose on Wednesday as traders pointed to lower supplies in May, and rumours of possible shipments to South Korea. The May loading programme is down 13 percent month-on-month, offering support to prices


North Sea Forties Up, VLCC at Hound Point

North Sea Forties crude differentials edged higher in quiet trade on Thursday as dealers eyed a potential VLCC shipment to South Korea and lower supplies next month. The BW Utah VLCC has docked near to the Hound Point loading terminal at the mouth of the Firth of Forth, ship tracking data showed


Navios Maritime Acquisition Corporation acquires VLCC

 Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced today the acquisition of a 2003-built VLCC of 298,287 dwt. The VLCC was purchased for $43.5 million. The vessel is expected to be delivered in Q2 2014.  


Kongsberg to Supply Engine Room Simulator to Ghana

From left: Dr. G. Jaw, Deputy Rector, RMU; E. Jaju, Director of Finance, RMU; A. Saiku, Director of Academic Affairs; H. Kluken, Area Sales Manager, Kongsberg Maritime; Capt. A. Turkson, Rector, RMU; Tone-Merete Hansen, Global Sales Manager, Kongsberg Maritime; A. Addy-Lamptey, Dean of Faculty of Engineering, RMU; D. Fofana, Procurement Officer, RMU and Akua D. Asare-Adei, Accounts Officer, RMU

The Regional Maritime University (RMU) has awarded Kongsberg Maritime a contract to deliver its K-Sim Engine simulator for its premises in Accra, Ghana. The highly advanced Full Mission Engine Room Simulator (ERS), which is due for delivery in May 2014 will enable RMU to provide education


McQuilling Services Industry's Spot Market Review for First Quarter

Fig1

 There’s no denying that the wave owners rode into 2014 on was a welcome way to start the new year (at least from their perspective).  Earnings in the large crude tanker segment reached levels that hadn’t been obtained in three years and in the smaller dirty segment


 
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