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Dwt Crude Oil Tankers News

25 May 2020

BIMCO Tanker Rate Analysis: Reality Kicks In, Rates Fall

Source: BIMCO, Clarksons

Tanker shipping: sky high freight rates replaced by reality of falling global oil demandGeopolitical tensions have now eased, leaving freight rates to feel the full effects of the weak underlying market and falling demand. Tanker shipping looks set to be under pressure for the rest of the year.Demand drivers and freight ratesThe tanker shipping industry was once again caught in a whirlwind, as freight rates skyrocketed with little regard to the poor market fundamentals before the latter once again caught up with rates.

18 Dec 2017

Guangzhou Shipyard Bags Order for Seven Tankers from Cosco Shipping

Cosco  Shipping Energy Transportation (CSET) has placed an order for seven more ships at compatriot Guangzhou Shipyard International Company Limited (GSI), owned by CSSC Offshore & Marine Engineering Company Limited. The order will include two 64,900 dwt crude oil tankers, two 109,900 dwt LR2 vessels and three 114,000 dwt crude tankers, totaling in an investment worth approximately USD 323 million (RMB 2.14 billion.). Expected delivery dates for the two 64,900 dwt panamax crude tankers are on or before 29 February 2020 and 31 May 2020, respectively. The two 109,900 dwt LR2/Aframax clean products/crude oil carriers of 109,900 dead have expected delivery dates of on or before 31 October 2020 and 31 January 2021, respectively.

24 Oct 2017

SeaCURE Gains Korean Exposure

Photo: Evoqua

Evoqua Water Technologies’ partnership with Krosys was strengthened with the unveiling of a SeaCURE Ballast Water Treatment System during the Kormarine 2017 exhibition in Busan, South Korea. The electrochlorination unit (ECU) skid showcases the Korean engineering company’s competence in building, installing and commissioning Evoqua’s high-end ballast water treatment technology in the Korean newbuild and retrofit markets. The development represents another success for both companies…

06 Jan 2014

Aker Starts Building First Product Tanker for Crowley

Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), began production activities today on the first product tanker that it is building for its joint venture with Crowley. Crowley and APSI have signed contracts for the first four tankers, with a total contract value of approximately $500 million. A small ceremony with representatives from Crowley and APSI was held in the shipyard’s Fabrication Shop to commence cutting on the ship’s first steel plate. That plate will become part of the double hull of the tanker that protects the cargo tanks. When completed in 2015, the vessel will be 600 feet long and be capable of carrying 50,000 tons of crude oil or refined petroleum products.

20 Jun 2013

Dr. Shashi Kumar

Dr. Shashi Kumar

We had the privilege to pick the brain of Dr. Shashi Kumar (right) a Master Mariner, Fulbright Senior Specialist Fellow and Professor Emeritus of International Business and Logistics, for his take on a wide range of maritime matters near and far. A market boom starting in 2014? The long-term  effects of  Sequestration? A ‘cap’ on the size of ships? He covers it all. This maritime economy has been bad for a number of years. Put in perspective the downturn now vs. traditional downturns. That’s a very good question.

11 Oct 2011

Spectec Announces Contract with Gungen Maritime

SpecTec and Gungen Maritime and Trading A/S recently announced the signing of a contract for the migration of their AMOS BS system to the latest version of AMOS2 Enterprise Management. After a series of fruitful meetings, last June the two companies renewed their long term mutually beneficial collaboration through the agreement which will lead the Turkish Shipping Company to the acquisition of the latest product of the AMOS Suite for its offices in Ankara and Istanbul as well as onboard the Vessels of the fleet. The provision set into the contract will be then extended to the two newbuildings soon to be delivered. The contract will see the two parties involved in the activities for implementing the AMOS2 system for the management of maintenance operations…

03 Aug 2000

Behemoth in the Offing?

Attuned to the liner shipping industry's unerring drive for economies of scale, classification society Lloyd's Register (LR) has developed a conceptual design of container vessel incorporating a 12,500-TEU capacity. Although some 55-60 percent greater in slot capacity than the biggest cellular vessels ordered to date, the envisaged Ultra Large Container Ship (ULCS) would be able to transit the Suez Canal and access key ports. LR considers that there are no insurmountable technical challenges to vessels of 12,500 TEU, and believes that it is only a matter of time before such tonnage makes its appearance in deep sea trade. The next five to 10 years could see the uptake of the envisaged new breed of behemoths by the container shipping industry.

29 Oct 1999

Millennium Class Tanker Christened

ARCO Marine, Inc. unveiled its first state-of-the-art Millennium Class tanker at a christening ceremony at Litton Avondale Industries in metro New Orleans. The 125,000 dwt crude oil tankers are setting the standard for safety at sea, with double hulls, twin engine rooms, twin propellers, twin rudders and a sophisticated navigation and control system, which allows the control of the ship from a single joystick. The sponsor is Teresa Sullivan, wife of John Sullivan, vice-president engineering, ARCO Marine. She christened ARCO Endeavour with the traditional champagne bottle. The Millennium Class "next generation" tankers measure 895 ft. (272.7 m) in length, with a beam of 152 ft.(46.3 m) and a depth of 83 ft.

12 Nov 1999

Millennium Class Tanker Christened

ARCO Marine, Inc. unveiled its first state-of-the-art Millennium Class tanker at a christening ceremony at Litton Avondale Industries in metro New Orleans. The 125,000 dwt crude oil tankers are setting the standard for safety at sea, with double hulls, twin engine rooms, twin propellers, twin rudders and a sophisticated navigation and control system, which allows the control of the ship from a single joystick. The sponsor is Teresa Sullivan, wife of John Sullivan, vice-president engineering, ARCO Marine. She christened ARCO Endeavour with the traditional champagne bottle. The Millennium Class "next generation" tankers measure 895 ft. in length, with a beam of 152 ft. and a depth of 83 ft.