Overseas Shipholding To Charter Two Tankers To Petrobras America

Monday, October 08, 2007
Overseas Shipholding Group, Inc. (OSG) revealed that it has entered into a definitive agreement to charter two 46,000 dwt Jones Act tankers to Petrobras America, Inc. a unit of Petroleo Brasileiro S.A. (PBR, PBRA). The company said that it would provide shuttle tanker services from a Floating Production Storage and Offloading facility, or FPSO. Wherever pipeline infrastructure is too costly, FPSOs and shuttle tankers are a cost-effective means of transporting offshore oil. Overseas Shipholding would convert to shuttle tankers two of the 12 product tankers that it has ordered from Aker Philadelphia Shipyard. The delivery of converted shuttle tankers to Petrobras is anticipated to occur in the first quarters of 2010 and 2011. [Source: http://www.tradingmarkets.com]
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Harkand: Expanding the Fleet, Growing a Global Business

International inspection, repair and maintenance (IRM) company Harkand aims to be a $1 billion company. MR’s Tom Mulligan recently met with John Reed, the company’s CEO,

HHI Orders Regasification Systems from Wärtsilä

South Korean shipyard Hyundai Heavy Industries (HHI) has ordered two seawater/propane based regasification modules from Wärtsilä. The systems are to be installed

Hitachi Gas Supply System Order for MHI

Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Hitachi Zosen Corporation for a high-pressure gas supply system enabling use of natural gas as fuel in marine engines.

Tanker Trends

Strong Returns for Sovcomflot

Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months.

CSDC Profts Soar

The bulker and tanker unit of state conglomerate China Shipping Group, China Shipping Development Co (CSDC) has delivered a first half performance which saw its profit spike,

Med Crude-Russian Urals Edges Lower in Med, Baltic

Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said.

 
 
Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.3791 sec (3 req/sec)