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Viken Shipping News

05 Dec 2022

Russian Oil Sanctions Fuel Demand for Old Tankers

©Vladimir/AdobeStock

The market for old oil tankers is booming, and it's all down to efforts by Western nations to curb trade in Russian crude.As Western shipping and maritime services firms steer clear of Russian oil to avoid falling foul of sanctions or harming their reputations, new companies have leapt into the void, and they're snapping up old tankers that might normally be scrapped.The European Union banned all seaborne Russian crude imports from Dec. 5, with a fuel import ban to follow in February.

24 Feb 2017

MOL Invests in Self-Elevating Platform Vessel Operator

Mitsui O.S.K. Lines, Ltd. today announced a plan to acquire a 5% share in Seajacks International Limited (Seajacks) Group, which owns and operates five Self-Elevating Platform vessels(*1), from Marubeni Corporation. This is a new offshore business for MOL, following FPSO(*2), FSRU (*3), shuttle tanker (*4), and subsea support vessel (*5). It is also the first step to move into the renewable energy business field through involvement in installation of offshore wind power generation systems, which is expanding in Europe and other areas around the world. MOL continually contributes to environmental protection in areas and ports worldwide…

03 Sep 2014

MOL & Viken in Shuttle Tanker Ownership J/V

Mitsui O.S.K. Lines, Ltd. (MOL) says it has decided to establish a ship-owning joint venture with Norway's Viken Shipping AS  to participate in a shuttle tanker project. The joint company is called Viken MOL AS, and will be managed from Viken Shipping's office in Bergen. The initial investment by the joint company will be the acquisition of a company belonging to the Viken Shipping Group, which owns five crude oil shuttle tankers currently serving on long-term charter contract with Petrobras Transporte S.A. of Brazil (Transpetro), a wholly owned petroleum and gas transport subsidiary Petrobras, Brazil's national oil company. MOL and Viken Shipping share an ambition to develop long term cooperation through Viken MOL AS…

01 Apr 2004

SHI Wins $200 in Contracts

Samsung Heavy Industries (SHI) reportedly has won two shipbuilding orders in Europe worth $200 million. Samsung will build a passenger ferry for Norfolkline Shipping B.V in the Netherlands and two crude oil carriers for Norway's Viken Shipping A.S.

06 May 2002

New Order For MAN B&W Diesel

engine, thus confirming the market interest in the electronically controlled engine design from MAN B&W Diesel A/S. Norway's important shipowners, Viken Shipping in Bergen, for a highly specified Suezmax "shuttle light" tanker with upgraded specification. Korea in November 2003 and will enter a long-term charter for Navion in the North Sea. negotiated with the yard for this owner, and they, too, are planned to have ME-C engines. For the Aframax, the 6S60ME-C type is foreseen. The 6S70ME-C engine develops an output of 18,660 kW at 91 r/min. monitoring to promote longer times between overhauls. The reasons Viken Shipping has chosen the ME engine for their newbuildings are particularly the low rpm capability giving improved manuevering possibilities and the running economy.

13 Jun 2001

Disputed Tanker Fleet Bought

Norwegian tanker mogul Tom Steckmest bought out bondholders with whom he was due to clash in the New York courts over control of a fleet of six petroleum product tankers. "The existing bonds have been amicably cancelled and all disputes settled," Steckmest said. Shipping sources said he had paid $135 million to cancel the bonds in addition to $8 million he paid last year for equity in the ship-owning company First International. The bondholders lent most of the $257 million to build the fleet of tankers, which have worked all their lives on long-term charters to oil major Shell. Both parties asked the courts in April to decide which of them controlled the future employment of the six vessels, after the bondholders refused to accept a new contract Steckmest had negotiated with Shell.