SKANReg Recruits UK Ship Register's Mazumdar as CEO
After four groundbreaking years as head of the UK Ship Register (UKSR), Debasis Mazumdar is moving on to become CEO of the London-headquartered St Kitts & Nevis International Ship Registry (SKANReg), with a mission to drive further growth for the ambitious ten-year-old Caribbean flag state. He succeeds Nigel Smith in the role from August 10 and will also take over from him as International Registrar after a familiarization period of three months. Smith, who conceived the SKANReg business plan in 2004 and has led the operation since it became active a year later…
Knightsbridge Gets VLCC Time Charters
Knightsbridge Tankers Limited has secured medium-term time charter contracts for two of the company's five very large crude carriers (VLCCs). The company has chartered the vessels to Tankers International LLC, each for a period of three years at a rate of $30,000 per day with a 50:50 profit sharing arrangement for earnings in excess of $30,000 per day calculated by reference to the BITR Index. Tankers International LLC is a pool for the commercial operations of four large tanker owners and operators: A.P. Moller, Euronav Luxembourg SA., Overseas Shipholding Group, Inc and Reederei "Nord" Klaus E. Oldendorff. The two time charters will commence prior to April 30, 2004.
Knightsbridge Secures Charters for Two Vessels
Knightsbridge Tankers Limited announced it has secured medium-term time charter contracts for two of the company's five very large crude carriers (VLCCs). The Company has chartered the vessels to Tankers International LLC, each for a period of three years at a rate of $30,000 per day with a 50:50 profit sharing arrangement for earnings in excess of $30,000 per day calculated by reference to the BITR Index. Tankers International LLC is a pool for the commercial operations of four large tanker owners and operators: A.P. Moller, Euronav Luxembourg SA., Overseas Shipholding Group, Inc and Reederei "Nord" Klaus E. Oldendorff. The two time charters will commence prior to April 30, 2004.
Wärtsilä Manufactures 2000th 20 Diesel Engine
The Wärtsilä 20 engine type was introduced in 1992 as a heavy-duty diesel engine for economical, reliable operation on heavy fuel oil. In its ten years' production, the engine has been further developed and still offers a combination of state-of-the-art design and top performance in a compact, space-saving package. Its service experience has confirmed its ability to achieve long times between overhauls. Up to 24,000 hours' operation between overhauls are achieved on light fuel oils. rev/min. maximum continuous outputs of 520 to 1620 kW. stage, which is 10 per cent above the previous stage. shipboard applications. Klaus E. Oldendorff GmbH. shipowners' requirements.
Shipowners Pool Tankers To Become More Flexible
A group of leading shipowners are pooling their large oil tankers in a move to offer customers "one-stop shopping," officials of the newly-formed Tankers International said, adding that the fragmented nature of the business has required that owners consolidate to become more flexible. Shipping analysts say the creation of a 38-strong fleet may strengthen a negotiating position and could help achieve of higher charter rates. However, Tankers International officials said their focus will be more on cutting operational costs than on rates. Rates for oil tankers are currently low and in some cases daily returns have fallen below break-even for modern vessels. Ample tonnage and high bunker costs have also taken their toll on ship earnings.
