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Samco News

15 Dec 2015

DHT Holdings Extends VLCC Time Charters

DHT Holdings, Inc. has extended time-charters for three of its VLCCs to oil majors, the company announced.   The vessels, Samco Europe, Samco Taiga and Samco Redwood, have been extended for one, two and two years respectively, at respective daily rates of $53,200, $45,000 and $47,300.   The contract extensions secure 1,800 days of time-charter equivalent earnings at a combined value of about $85 million.

15 Jun 2015

Supertankers Set to Take North Sea Crude to Asia in June

As many as four VLCC tankers could take North Sea crude oil to Asia this month, shipping fixtures show, after an Atlantic Basin supply glut forced prices to multi-year lows. The Samco Europe, Bunga Kasturi Empat, Britanis and Starlight Venture VLCCs - very large crude carriers - have been lined up for the shipments, according to the fixtures, equivalent to around 8.4 million barrels of Forties crude oil. The tankers have been booked by Unipec, Glencore's shipping arm ST Shipping, Trafigura and Vitol respectively. Unipec's tanker is listed as heading for Singapore, but the other three are expected to head for South Korea, which benefits from freight rebates and a free trade agreement with Europe. Both of these measures encourage local refiners to diversify their crude imports.

03 Mar 2015

Shipping Industry Faces Shake Up

Photo: Aurelie Moulin

As global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector in a move set to accelerate a restructuring of the shipping industry. Private equity invested tens of billions in global shipping after the 2008 financial crisis, but weaker Chinese demand and an oversupply of ships has driven down freight rates and caused firms to idle vessels and in some cases file for bankruptcy. At least five private-equity backed shipping firms are seeking share listings…

09 Sep 2014

DHT Holdings to Acquire Samco Shipholding

Photo: Samco Shipholding

DHT Holdings, Inc. announced today that it has entered into an agreement to acquire all the outstanding shares of Samco Shipholding Pte. Ltd., a private company incorporated under the laws of the Republic of Singapore. Samco owns and operates a fleet of seven very large crude oil tankers (VLCCs) with an average age of approximately 4.5 years. Five of the vessels are currently on time charters to oil majors. Included in the transaction is Samco's 50% ownership in Goodwood Ship Management Pte. Ltd., a private ship management company incorporated under the laws of the Republic of Singapore.

24 Apr 2012

Becker Mewis Duct: The Largest Ever Built

A Becker Mewis Duct being installed.

Becker delivered an eight-meter-diameter version of its prime energy saver for VLCC Becker Marine Systems has delivered the largest Becker Mewis Duct ever made with a diameter of 8.10 m for the construction of Very Large Crude Oil Carriers (VLCC) at Hyundai Samho Heavy Industries for Samco Shipholding, Singapore. Initial sea trials of the new VLCC with a length of 319.0 m have proven once more the excellent rate of power savings provided by the Becker Mewis Duct. Fuel savings of about 5% were measured, lowering operating costs for the lifetime of the ship.

29 Sep 2011

N.E.I. Receives Fifth BWTS Type Approval Certificate

N.E.I. Treatment Systems receives its fifth BWTS type approval certificate from the netherlands, issued with a treatment rated capacity of 6,500 cubic meters per hour. N.E.I. Treatment Systems announced today that the Netherlands has issued a Type Approval Certificate for the Company’s Venturi Oxygen Stripping™ (VOS) Ballast Water Treatment System (BWTS) with a Treatment Rated Capacity (TRC) of 6,500 cubic meters per hour (m3/hr). The Netherlands is N.E.I.’s fifth Type Approval Certificate, adding to Certificates previously received from Panama, Malta, Marshall Islands, and Liberia. The Netherlands Type Approval was issued in July 2011 following the successful shipboard installation and commissioning of high-capacity VOS BWT systems aboard large Bulk Carriers and Tanker vessels.

17 Aug 2011

N.E.I. Treatment Systems Announces Commissioning of High Capacity Ballast Water Treatment System

Venturi Injectors for VOS-6000 Venturi Oxygen Stripping Ballast Water Treatment System

N.E.I. Treatment Systems, a global leader in providing Ballast Water Treatment Systems (BWTS) to the commercial shipping industry, announced today the achievement of a major milestone – the successful commissioning during sea trial of the world’s highest capacity BWTS installed and operating anywhere in the world. In July 2011, a 6,350 cubic meter per hour Venturi Oxygen StrippingTM (VOSTM) BWTS was successfully commissioned during sea trial of a VLCC built by Hyundai Samho Heavy Industries (HSHI) of South Korea for Samco Shipholding Pte. Ltd. of Singapore.

03 Nov 2003

First Bahamas Flag VLCC Awarded ISSC From ABS

The diversified international shipping group TESMA (Tschudi & Eitzen Ship Management Alliance) with its network of alliance partners servicing more than 80 vessels with full technical management and crew management support has become the latest organization to seek ABS certification and issuance of the International Ship Security Certificate (ISSC) to conform to the IMO’s International Ship and Port Facility Code (ISPS Code). The ABS classed, Bahamas flagged 284,504dwt VLCC "SAMCO" managed by TESMA Singapore Pte. Ltd was successfully audited to the requirements of ISPS Code Part A & B. According to Capt. Hemant Juneja, ABS Pacific Division Head for Safety…

25 Jan 2001

Exxon Snags Single Hull Tanker Charters

Five months after entering the tanker market to hedge its freight risk, U.S. oil giant Exxon Mobil has finally clinched two single-hulled VLCCs for five years time charters - the first such deal for at least three years, brokers said Thursday. Exxon is taking the 11 year old Taos from Singapore-based World-wide Shipping at about $33,500 per day and the 12 year old Saudi-owned Samco at about $32,500 per day. "The deals are still on subs (subject to charterers' approval), but bar some total disaster, the deals are done," said one London tanker broker. He said the deals were more complicated than commonly reported, with the possibility of newbuilding VLCCs replacing the two ships at some point during the charters.