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13 Dec 2019

Pirates Release Kidnapped Tanker Crew off Togo

Pirates have released three crew taken hostage from a Greek oil tanker off the coast of the West African country of Togo in November, the vessel's manager said on Friday.A fourth hostage, a Filipino, died from illness during captivity, European Products Carriers Ltd added.It did not give details of the release.The tanker, Elka Aristotle, was attacked on Nov. 4 about 18 km (11 miles) from the port of Lome.

27 Mar 2019

Solar Solve Wins 40-Ship Order from S.Korea

The UK-based manufacturer of sunscreens for navigation bridge windows scored order for SOLASAFE anti-glare roller sunscreens that will be installed on 40 vessels that are being built in South Korea during 2019.The Type Approved screens will be fitted at the navigation bridge windows to protect ship’s personnel from heat, glare and uv light that is radiated by the sun to create a safer and more comfortable working environment.Included in the order is a series of 14 massive VLCC 320,000 tons deadweight oil tankers that will be 336 mts long, 60mts beam and 29.5mts depth, that are all being constructed by Daewoo Shipbuilders. Each vessel will cost well over £60m depending on engine type and are being built for owners in Norway…

13 Jan 2014

GAC Australia Signs Three-Year Contract with MOL

Multimodal transport operator Mitsui O.S.K Lines (MOL) has awarded an exclusive three-year contract to serve its vessels and port calls across Australia to GAC Australia, part of the global shipping, logistics and marine service provider GAC Group. The contract was signed by Mark Austin, Managing Director of Mitsui O.S.K Lines Australia (MOL), and Phil Coolican, Managing Director, GAC Australia, following a rigorous tender process. MOL, a marine transportation companies, operating a global fleet of more than 900 vessels with an overall capacity of around 66 million deadweight tons (DWT).

01 Sep 2009

Ships Benefit from Intelligent Sensors

Tank gauging systems specialist PSM’s new iCT level pressure and temperature sensors are suitable for all ship sizes and types. The requirement for increasing amounts of reliable data on board has driven up demand for sensors. One consequence of larger manufacturing volumes has been that sensors have become relatively inexpensive. However, installation costs are another matter, and continue to rise. Today, the cost of installing a level gauging system either as a new build or a retrofit can often exceed the cost of the equipment itself. This is particularly apparent in respect of cable costs and system commissioning. PSM has launched a new high stability digital level, pressure and temperature sensor with advanced integrated intelligent signal processing and diagnostics.

10 Feb 2004

Feature: Innovative Coastal Trader

An advance in hydrodynamic design has been endorsed by Norwegian energy group Statoil, as the prospective charterer of an innovative newbuild intended for coastwise distribution of oil products. The 4,200-dwt vessel contracted by Bergen Tankers will employ a diesel mechanical propulsion layout based on twin azimuth thrusters incorporating 'pulling' propellers. The project represents the first application of the Norwegian-developed Azipull system in the tanker market, and champions the principle of redundancy, conferred through the use of two, independent propulsion lines. The engineering and propulsion arrangements selected for the 90m coastal tanker have been shaped by exacting requirements as to maneuverability, design efficiency, safety and transport service dependability.

09 Mar 2006

TEN Buys 9 Tankers for $530M

TEN, the New York quoted Greek tanker company controlled by the Tsakos family, confirmed it has bought for nine ice class 1A tankers from Western Petroleum for $530 million. The fleet consists of six 53,000-dwt medium range chemical/products carriers delivered by Hyundai Mipo Dockyard last year and three 116,000-dwt coated aframax products carriers for delivery from Hyundai Heavy Industries in May August and October this year. The acquisitions would be financed with a mixture of corporate cash and bank debt. The handymax tankers which all fly the Bahamas flag are the Western Baltic, Western Pacific, Western Atlantic, Western Antarctic, Western Arctic and Western Icelandic. The six vessels are due for delivery to TEN in April.

12 Jan 2006

Dubai Drydocks’ $60M Yard to Open July

Dubai Drydocks will launch its $60 million new building panel line and steel structure assembly facility in July. The yard, whose current shipbuilding facility has a monthly turnover of 2,800 tons of steel, plans turning over similar volumes of steel per month for the new building. It is already building the gravity base structure for a 10,000 steel construction with an extensive piping arrangement and four 6,200 dwt bunker tankers due to be delivered in March. Dubai Drydocks, which also wants to be involved in tanker, bulk carrier and containership sectors through series building, is planning to build four 47,000 dwt products carriers in a series that could extend to 20 vessels.

11 Jan 2006

Dubai Drydocks to Unveil $60M Project

According to reports, Dubai Drydocks will launch its $60 million newbuilding panel line and steel structure assembly facility in July. The yard, whose current shipbuilding facility has a monthly turnover of 2,800 tonnes of steel, plans turning over similar volumes of steel per month for the newbuilding. It is already building the gravity base structure for a 10,000 steel construction with an extensive piping arrangement and four 6,200 dwt bunker tankers due to be delivered in March. Dubai Drydocks, which also wants to be involved in tanker, bulk carrier and containership sectors through series building, is planning to build four 47,000 dwt products carriers in a series that could extend to 20 vessels.

31 Jul 2003

TEN Reports 2Q Results

Tsakos Energy Navigation Limited (TEN) has reported unaudited results for the second quarter and first half of 2003. Net revenues for the second quarter of 2003 were $61.5 million, a 122% increase over the $27.8 million generated in the second quarter of 2002. This increase reflected the expansion in the fleet (average number of vessels of 25.4 in 2003 vs. 17.0 in 2002) as well as the strong charter market. Net income for the second quarter of 2003 was a record $18.7 million versus $2.2 million in the second quarter of 2002. Earnings per share were a record $1.08 as compared with $0.13 per share in the like period of 2002. Interest and finance costs were $3.3 million in the second quarter of 2003 compared with $3.8 million in the second three months of 2002…

02 Jan 2003

SHI Wins Three New Contracts

South Korea's Samsung Heavy Industries reportedly has won three contracts totaling $580 million. The company will reportedly build: One LNG Carrier for Ras Laffan LNG Transport Ltd. of Qatar; Two petroleum products carriers for Euroceanica CTGM SA; and Five Containerships for Seaspan Container Lines Ltd. of Canada.

19 Jun 2001

Tests Prove CLT Prop Characteristics

The CLT propeller recently underwent real-world testing, which proved, according to its designer and manufacturer that the propeller can help to reduce or eliminate hull-induced vibrations and noise levels. Independent studies were conducted aboard Superfast Levante, which demonstrated that: the cavitation level developed on the CLT propeller blades is negligible from the ship's structural integrity point of view; vibration and noise levels are excellent in terms of comfort on board; and the contractual ship speed was much better than predicted. Superfast Levante is a 7,200 dwt RoRo cargo vessel delivered by Union Naval de Valencia (UNV) to Trasmediterranea, the major Spanish operator of RoRo vessels and ferries. The ship was ordered to operate between Cadiz and the Canary Isles.

04 Sep 2001

Hyundai, MAN B&W Are At Top of Engine Power

Rising Korean aspirations as to market influence and technological standing could alter the established order in an important segment of the engine business. While MAN B&W announced opening contracts for its new L21/31 design as a marine auxiliary, Hyundai Heavy Industries was preparing to roll-out its first-ever, self-originated engine type targeted at a similar power range. The H21/32 signals the emergence of Hyundai, the world's largest producer of marine diesels, as a designer in its own right. The company's development of the in-house Himsen brand denotes a move towards increased technological self-reliance, given the wholesale dependence up until now on manufacturing licenses from foreign engine firms.

05 Oct 1999

Fruit of the Orient

Through a longstanding blend of organizational discipline and an unerring drive for the highest levels of automation attainable in shipbuilding processes, the industry in Japan demonstrates resilience founded on continuing productivity advances. Untiring efforts to seek new ways of reducing man-hours and lead times is wholly characteristic of Japanese companies, as they rise to the intensified challenge posed by equally resolute South Korean yards. Although designs from Japanese builders are necessarily production-oriented, shaping perceptions in the international shipowning market that tailoring can only be had at a substantial premium, there is no question about the quality obtainable at a competitive price.