Gunvor, Oceangold and Maas Capital Form Tanker JV
A new ship holding company has been formed through a joint venture agreement between physical energy trader Gunvor Group, ship management company Oceangold Tankers and investor Maas Capital.The three partners hold an equal share in the new company, ClearOcean Tankers, which has been incorporated in Cyprus.The new joint venture company has entered into shipbuilding contracts for six vessels from South Korean shipyards, including four MR2 product tankers from STX Offshore & Shipbuilding Co. and two LR2 product tankers from Daehan Shipbuilding Co.
Tanker Market in the Doldrums
The global tanker market is depressed, it appears that there is little hope that it will recover for at least two years, according to a panel of expert speaking yesterday at a MarineMoney event in New York City. “What a difference a year makes,” said Jonathan B. “Last year everyone was slapping each other on the back, but I don’t think there is any doubt where we are today; we are in a trough,” Chappell said. The global shipping markets are historically cyclical and difficult to predict, even for seasoned veterans, and there was no consensus on when a full recovery would come about, though generally it seems 12 to 36 months is a popular line of thought. “The easy answer is: ‘rates are down and there are too many ships,’” said Jan Andersen, Head of Shipping, ST Shipping and Transport Pte.
Naming & Delivery of Stena Polaris
Concordia Maritime took delivery of the product tanker Stena Polaris from Brodosplit Shipyard in Croatia and at the same time a naming ceremony was held. The vessel has been signed to a three-year charter with ST Shipping, part of Glencore, for the transport of refined petroleum products. The Stena Polaris is the eighth unit in the P-MAX series and the first of two P-MAX tankers with the highest ice class, 1A. Her sisters, the Stena Penguin with delivery planned for Q4, 2010, and the Stena Premium, with delivery planned for Q1, 2011, have also been contracted for three years by ST Shipping. The vessel’s godmother was Mrs. Helle Andersen, wife of Jan Andersen, Head of Shipping at ST Shipping.
Aker H-6e Rigs on Discovery Channel
A major feat of engineering will be successfully concluded when, by the end of June, Aker Solutions hands over the second of two Aker H-6e drilling rigs to Aker Drilling. Building two of the world's most advanced drilling rigs, tailored to operate in harsh environments, extreme temperatures and in ultra-deep waters caught the attention of the Discovery Channel. The TV channel will broadcast a 60 minute documentary about the Aker H-6e project in 24 European and Asian countries, bringing Aker Solutions' engineering and management expertise to its broadest-ever worldwide audience. The program is scheduled to be aired in Norway on Sunday 28 June at 22:00.
