Suezmax Crude Oil Tankers News

Kongsberg Digital (KDI) signed a contract to deliver its Vessel Insight infrastructure to Güngen Denizcilik ve Ticaret A.Ş. (Güngen), a Turkish-owned and registered shipping company which operates a fleet of six Suezmax crude oil-tankers. Güngen will deploy KDI's Vessel Insight to help reduce emissions and optimize fleet performance.Güngen’s immediate goal for installing Vessel Insight is to benchmark the vessels within its fleet, providing the foundation for increased fuel savings and reduced emissions.

Capital Product Partners has announced that its Board of Directors has approved the acquisition of the eco-type crude tanker ‘Aristaios' (112,800 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding, S. Korea) for a total consideration of $52.5 million from the Partnership's sponsor, Capital Maritime & Trading. The M/T ‘Aristaios' is currently employed under a time charter to Tesoro Far East Maritime Company (‘Tesoro') at a gross daily rate of $26,400. The Tesoro charter commenced in January 2017 with duration of five years +/- 45 days. The Partnership intends to fund the acquisition through available cash in the amount of $24.2 million…

Capital Product Partners, an international diversified shipping company, announced that it has secured new time charter employment for three Medium Range (MR) Product Tankers. The M/T 'Amadeus' (50,108 dwt, IMO II/III Eco Chemical/Product Tanker built 2015, Samsung Heavy Industries (Nigbo) secured employment with Repsol Trading for one year (+/- 30 days) at a gross daily rate of $14,500. The charterer has the option to extend the time charter for an additional year (+/-30 days) at a gross daily rate of $14,750. The new charter will commence in October 2017. The M/T 'Aktoras' (36,759 IMO II/III Chemical Product Tanker built 2006 Hyundai Mipo Dockyard…

Ship Finance International Limited (SFL) has agreed to sell the 1998 built VLCC Front Century to an unrelated third party, and has simultaneously agreed to terminate the corresponding charter party for the 18-year old crude oil carrier with a subsidiary of Frontline Ltd. The vessel is expected to be delivered to its new owner in the first quarter of 2017, and the net sales price will be approximately $24 million, including a compensation from Frontline for the early termination of the charter.

Ship Finance International Limited announced that it has agreed to sell the 1998 built VLCC Front Vanguard to an unrelated third party. Ship Finance has simultaneously agreed to terminate the corresponding charter party for the 18-year old crude oil carrier with a subsidiary of Frontline Ltd. The vessel is expected to be delivered to its new owner by the end of June, and the net sales price is approximately $24 million, including a compensation of $0.4 million from Frontline for the early termination of the charter. Ship Finance said the divestment of older vessels is part of its strategy to renew and diversify the fleet, and the proceeds are expected to be reinvested in new assets.

Capital Product Partners (CPP) has taken delivery of a new panamax containership, which will commence a five-year timecharter to CMA CGM. It also has won a timecharter from Cargill, and another two have had their charters to Capital Maritime extended. The NASDAQ-listed company has announced the successful acquisition of the MV 'Akadimos,' as well as new time charter employment for the MT 'Active' and MT 'Anemos I' and a charter extension for the MT 'Atrotos,' each at increased day rates. The Akadimos (9,288 teu) was delivered to CPP from the Romania’s Daewoo-Mangalia Heavy Industries shipyard on June 10 and will begin its timecharter to CMA CGM for $39,250 daily.

On December 9, 2014, Nordic American Tankers Ltd. announced that preliminary contracts had been entered into with a South Korean shipyard, for the construction of two suezmax tankers to be delivered in the third quarter 2016 and first quarter 2017. The final documents were signed December 19, 2014. The contracts are now firm, bringing the NAT fleet to 24 suezmax crude oil tankers, being able to transport one million barrels of oil each. The purchase price of the two newbuilding vessels is in the region of $65 million each, which is expected to be financed by the internal resources of NAT. The stage payments to the yard by NAT during construction will be guaranteed by a bank.

Capital Product Partners L.P. (CPP) an international diversified shipping company, says it has secured time charter employment for the M/T ‘Avax’, M/T ‘Agisilaos’ and M/T ‘Alkiviadis’. M/T ‘Alkiviadis’ (36,760 dwt, IMO II/III Chemical/ Product Tanker built 2006 Hyundai Mipo Dockyard, South Korea) was employed with CSSA S.A., a fully owned subsidiary of Total S.A., for one year (+/‐ 30 days) at a gross daily rate of $14,125. CSSA S.A. has the option to extend the charter for an additional year (+/‐ 30 days) at $15,125 gross per day. Previously the vessel was employed under a time charter to Capital Maritime & Trading Corp. (‘CMTC’) at a gross rate of $14,250 per day. The new charter commenced in September 2014. This marks the opening of a new time charter relationship of CPLP with CSSA S.A.

Teekay Tankers Ltd. and Teekay Corporation today jointly announced the creation of Tanker Investments Ltd. (TIL), which will seek to opportunistically acquire, operate and sell modern secondhand tankers to benefit from an expected recovery in the current cyclical low of the tanker market. TIL has completed a $250 million private equity offering in which Teekay Tankers and Teekay have co-invested $25 million each for a combined 20 percent ownership interest in the new company.

Graig secures ten-vessel supervision contract for Global Union suezmax newbuildings. Graig China Ltd (GCL), part of the Cardiff-based Graig Group, has been contracted by Hong Kong-based Global Union Shipping Limited to supervise the construction of ten 157,000 dwt suezmax crude oil tankers building at Jiangsu Rongsheng Heavy Industries Co Ltd in China. The last vessel in the ten-ship order is due for delivery in January 2014. GCL is supervising – or has already delivered - forty other newbuildings at the Rongsheng shipyard. The total number of ships in GCL’s newbuilding programme is now nearing 150. Global Union says that one of the…

OceanSaver announced that Dalian Shipbuilding Industry Company (DSIC) has ordered ballast water management (BWM) systems for six VLCCs thus lifting the company’s order book to approximately $45m. The DSIC VLCC contract follows recent OceanSaver BWM system orders with Hyundai Heavy Industries for two high-spec Suezmax crude-oil tankers and six VLCCs at the Shanghai Waigaoqiao Shipbuilding Company in China. To date, OceanSaver has won BWM system contracts for 17 vessels – all of them large tankers. As of July 8th this year, 26 (25% of the world’s tonnage) of 30 possible flag states have ratified the International Convention for the Control and Management of Ships' Ballast Water and Sediments adopted in 2004.

OceanSaver announced that Dalian Shipbuilding Industry Company (DSIC) has ordered ballast water management (BWM) systems for six VLCCs thus lifting the company’s order book to approximately $44.6m. The DSIC VLCC contract follows recent OceanSaver BWM system orders with Hyundai Heavy Industries for two high-spec Suezmax crude-oil tankers and six VLCCs at the Shanghai Waigaoqiao Shipbuilding Company in China. To date, OceanSaver has won BWM system contracts for 17 vessels – all of them large tankers. As of July 8th this year, 26 (25% of the world’s tonnage) of 30 possible flag states have ratified the International Convention for the Control and Management of Ships' Ballast Water and Sediments adopted in 2004.

OceanSaver announced signing a major contract with Hyundai Heavy Inudstries in Korea for the delivery of two ballast water management (BWM) systems for Gungen, a leading Turkish owner and operator of high-spec SUEZMAX crude-oil tankers. Valued at $4m, the Gungen BWM agreement follows OceanSaver’s six VLCC BWM system deal with Shanghai Waigaoqiao Shipbuilding Company just four weeks ago and now escalates OceanSaver’s total order book up to $32m. The Gungen contract covers the supply of two 2,500 m3/h BWM systems to be located inside the Zone 0 area of the tanker pump room. Zone 0 represents the strictest gas hazardous class as gas or vapor may be present.