International Tanker Management News

Wilhelmsen Ship Management signed a deal to acquire a majority stake in Hamburg-based Ahrenkiel Tankers, resulting in Wilhelmsen Ship Management taking over the management of five tankers and gaining 80% ownership of Ahrenkiel Tankers. The remaining 20% is held by existing owners MPC Capital Group. Ahrenkiel Tankers will be rebranded as Barber Ship Management.It marks the first step by Wilhelmsen Ship Management after its earlier decision to re-enter the tanker segment following a decade-long absence…

Two oil tankers were attacked in the Gulf of Oman on Thursday, leaving one ablaze and both adrift, shipping firms said, driving oil prices as much as 4% higher over worries about Middle East supplies.The Front Altair, carrying petrochemical feedstock, was on fire in waters between Gulf Arab states and Iran after an explosion that a source blamed on a magnetic mine. The Norwegian owner said its crew were safe.A second Japanese-owned tanker was abandoned after being hit by a suspected torpedo, the firm that chartered the ship said.

ASRY issued a statement detailing the yard's recent operational and business developments. After appointing Resolute Maritime Services as the agents in Greece an increased activity from Greek market can be observed at ASRY including one of the leading owners from Greece, Maran Tankers Management, sending their VLCC for docking in ASRY. Apart from routine drydocking jobs and hull treatment the main job was the installation of owner-supplied Becker Mewis Duct. This is the 12th duct ASRY has installed, and second on a VLCC, which only required a record 10 days for complete installation, proving their proficiency in that field. May also saw the extensive dry-docking repairs of Singapore-owned Offshore Supply/Tug ‘Jaya Concordia’…

Oman Shipping Company S.A.O.C. (OSC) took delivery of a Very Large Crude Carrier (VLCC) “BUKHA”, at Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME), Okpo, South Korea. “BUKHA” is designed and constructed according to the latest international standards, and it has advanced ballast water treatment technology to comply with international conventions on the protection of the environment from the effects of transportation of ballast water and sediments around the world.

Oman Shipping Company (OSC) has taken delivery of the very large crude carrier Izki , in Okpo, South Korea, to be 13th crude carrier and 34th vessel in the multi-purpose fleet of the company. The ship, which was built by Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME), is one of the most modern OSC vessels having been supplied with the latest navigational safety equipment and technical outfits that enable the ship to operate best in different weather conditions. The Izki  has advanced ballast water treatment technology to comply with international conventions on the protection of the environment from the effects of transportation of ballast water and sediments around the world.

So where do you turn when you would like to start your own ship management company, but you need a million dollars and the worst financial crisis of a lifetime has rendered traditional sources moot? In the case of Dubai, UAE-based Noah Ship Management’s Svein Elof Pedersen and Thomas Chacko Arakal, the core tenants of the real estate business – Location, Location, Location – applied to their vision of creating a small, efficient ship management company. “The banks would not even let us in” the front door, said Pedersen.

Wilhelmsen Ship Management (WSM) sold its affiliated company International Tanker Management (ITM) to V.Ships. International Tanker Management is based in Dubai, with offices in Hamburg, Germany, Singapore, and Houston, USA. ITM has approximately 45 vessels on technical management, from VLCCs to chemical tankers. The company was founded in 1998 as an affiliated company of Wilhelmsen Ship Management (formerly Barber Ship Management).   EC Hambro Rabben & Partners acted as corporate finance advisor to Wilhelmsen Ship Management in this sale process.

International Tanker Management (ITM) managed and Marshall Islands flagged tankers MT PORT LOUIS, MT ALTIUS and the bulker MV PORT MELBOURNE reported that they have became the first vessels to be officially issued with LRIT Conformance Test Report Certification following the successful shipborne equipment conformance testing of the vessels’ Inmarsat C equipment. The event marks a milestone in the development of LRIT. ITM has been participating with the on the development of LRIT and in particular with the development of the LRIT shipborne equipment testing. The completion of the first LRIT conformance tests show the high quality and innovative operational standards of the ITM fleet.

Preparations for this year's tanker gathering continue to progress swiftly, promising an interesting and comprehensive program for delegates and visitors. In addition to the INTERTANKO Annual General Meeting, Executive Committee and Council meetings, the Dubai Tanker Event will feature a series of open conference sessions covering a wide range of topics. As tankers and other shipping markets are enjoying good times on the back of a recovery in world economy and unprecedented growth in China, INTERTANKO has secured a solid panel of industry experts who will share their forecasts for global energy markets and how tanker owners best can prepare to meet future developments. With Dubai as its venue, the program will naturally focus on developments in the Middle East.

Frontline Management AS of Oslo, Norway. Company is a division of Ashland Inc. Scotland; and V-Ships (Germany) GmbH, Hamburg, Germany. Nels Hendrickson, Drew Marine vice president of marketing. times per engine revolution. analysis, and performance history comparisons.