BP to Charter Two OSG-Controlled Product Carriers

Tuesday, February 07, 2006
Overseas Shipholding Group, Inc. (NYSE:OSG) announced that charter agreements with BP have been signed for two of the Jones Act product carrier newbuildings that OSG will bareboat upon delivery from Aker Philadelphia Shipyard, formerly Kvaerner Philadelphia Shipyard.

Morten Arntzen, President and CEO of OSG said, "The strong commercial interest in these U.S.-built product carriers further validates our U.S. Flag expansion strategy, uniquely positioning us in the Jones Act market. With two other tankers in the series already chartered out to another major oil company, OSG has now signed 40 percent of the 10-ship order scheduled for completion in 2010."

Work on the Veteran MT-46 Class tanker vessels began immediately after Aker and OSG announced the 10-ship program in April 2005. Keel laying for the first product tanker, scheduled for delivery to OSG in late 2006, took place in the yard's dry dock in October. Production of the second vessel in the series has commenced as well, marked by the beginning of steel cutting for the ship in late November.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

President Pryor Retires from ExxonMobil Chemicals

Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, has elected to retire on January 1, 2015, after more than 44 years of service.

Asia Tanker, VLCC Rates Could Climb

Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs)

Offshore

7 Rescued from Sinking Freighter Near Haiti

Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday.

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

China Building Island Big Enough for Airstrip

Satellite images show China is building an island on a reef in the disputed Spratly Islands large enough to accommodate what could be its first offshore airstrip in the South China Sea,

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1120 sec (9 req/sec)