Seabulk to Purchase Two Foreign-Flag Product Tankers

Monday, February 02, 2004
Seabulk International, Inc. announced that it has agreed to purchase two 48,000-dwt product tankers from principals of World-Wide Shipping of Singapore. The tankers, the World Trumpet and World Trust, are modern double-hull vessels built in 2000 at the Daewoo Shipyard in Korea and suitable for worldwide trading. Delivery of the vessels is expected in March. They will be the first foreign-flag product tankers to join the Seabulk fleet. Seabulk currently has 10 product tankers operating in the domestic Jones Act market. "The international product market represents a new strategic direction for us," commented Gerhard E. Kurz, Chairman and Chief Executive Officer, "although it is really a natural extension of our domestic tanker business where we have been active for more than 25 years. With the flow of energy products becoming increasingly globalized, we saw an opportunity to enter the international market through the purchase of these two world-class vessels. The two vessels will be time-chartered to a major oil company or placed in an international tanker pool. Going forward, we intend to maintain our leading position in the domestic product tanker market and, at the same time, expand our presence in the international market."

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Egypt to Complete East Port Said Side Channel in 2016

Egypt plans to complete a side channel in East Port Said, near the Suez Canal, that would speed up shipping and allow ships direct entry into the port by the end of June 2016,

Concordia Maritime Charters MR Tanker

Concordia Maritime has signed a contract for the charter of an IMO2/3 class MR tanker, the company announced today. The vessel will be chartered jointly with Stena Weco,

Stena Bulk Orders Tankers from China

Stena Bulk has placed an order for three 50,000 dwt IMOIIMAX MR tankers with the Chinese shipyard CSSC Offshore & Marine Engineering (CSSC OME), formerly Guangzhou Shipyard International (GSI),

Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.0672 sec (15 req/sec)