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Clean Petroleum Products News

20 Mar 2024

SFL Acquires LR2 Product Tanker Trio

© Kalyakan / Adobe Stock

Shipowner SFL Corporation on Wednesday announced it has agreed to acquire three new LR2 product tankers in combination with long term time charters to an energy and commodities company.The vessels are currently under construction in China, with the latest eco-design features, SFL said, noting the sellers are affiliates of the company’s largest shareholder Hemen Holding Ltd.SFL said it will acquire the three ships for an aggregate purchase price of approximately $230 million, in…

16 Oct 2023

Future Fuels: Methanol

(Image: Glosten)

Any commentator on the maritime business decarbonization voyage will offer something along the lines of "There will be multiple fuels…" With the International Maritime Organization (IMO) meetings of its Maritime Environmental Protection Committee (MEPC) set for early July, it is likely that targets for emissions will be tightened. Whatever mileposts that the IMO actually establishes, there will be no prescriptions handed down on how to get there. By mid-2023, nearly two years after the late 2021 alternative fuels crescendo in the aftermath of the COP26 meetings in Glasgow…

26 Jul 2023

Chemical Tanker Owners Seek Fleet Renewal

Nightingale: MSI expects earnings for product tankers to ease in H2 23 and into 2024 but remain at elevated levels.

An easing of chemical tanker earnings in Q2 has not discouraged owners tempted to place newbuilding orders. After a period of extremely strong vessel earnings and asset valuations, an unwinding of the support that created the earnings boom has seen spot and time charter rates fall from their highs, though still remain at elevated levels.This bifurcation of the market has seen owners tempted back to the shipyards with ordering picking up steadily from Q1 and into Q2, reports MSI in its Chemical Tankers Q2 2023 report.

01 May 2023

US Gulf Coast’s First Barge-to-ship Methanol Bunkering Completed

Stena Prosperous (Photo: Proman Stena Bulk)

Proman Stena Bulk, the joint venture between tanker company Stena Bulk and methanol producer Proman, announced the successful completion of the first ever barge-to-ship methanol bunkering on the U.S. Gulf Coast.The JV tankers Stena Pro Marine and Stena Prosperous were refueled with methanol via barge while discharging clean petroleum products at a terminal in the Port of Houston in the first week of April.Stena Pro Marine was bunkered with 1,408MT of methanol, and Stena Prosperous was refueled with 1,203MT during the operation.

18 Jan 2023

Product Tankers Poised to Profit from Jet Fuel Rebound

Copyright AA+W/AdobeStock

The airline industry has been hit hard during the COVID-19 pandemic and seaborne jet fuel cargo volumes suffered along with it. In comparison to pre-pandemic levels, available seat kilometers dropped nearly 90% in early 2020. Initially, air cargo volumes fell as well but saw volumes climb 5-10% above pre-pandemic levels in 2021. During 2022, the surge in cargo volumes slowed along with global economic growth prospects whereas passenger traffic continued to recover. Now, the relaxation…

25 Jun 2021

New ATB Handed Over to Crowley

(Photo: Crowley)

Crowley said it recently took delivery of its new 55,000-barrel, articulated tug-barge (ATB), the Aurora/Qamun. The 410-foot vessel is the second ATB in Crowley’s fleet, after the Aveogan/Oliver Leavitt, to be dedicated to the Alaska market. The ATB is specially designed to add efficiency and range to transport clean petroleum products for Crowley Fuels, the company’s Alaska-based business unit.“This purpose-built vessel was specifically designed by our in-house naval architects to safely and effectively operate in the Last Frontier…

25 May 2021

Eighth and Final Combination Carrier Delivered to KCC

(Photo: KCC)

Klaveness Combination Carriers ASA (KCC) on Tuesday took delivery of Balzani, its eighth and final vessel in a series of CLEANBU combination carriers from New Yangzi Shipyard in China.The vessel is scheduled to load its first cargo of clean petroleum products in early July.The CLEANBUs are unique vessels both in terms of design and their operational and technical efficiency. These vessels have up to 40% lower CO2 emissions per ton mile transported cargo compared to standard vessels…

25 Mar 2021

Klaveness Combination Carriers Takes Delivery of 'MV Bass'

MV Bass - Credit:  Klaveness Combination Carriers

Norwegian shipowner Klaveness Combination Carriers (KCC) on Thursday took delivery of the MV Bass vessel from New Yangzi Shipyard in China. The MV Bass is the seventh of in total eight contracted CLEANBU combination carriers. MV Bass is scheduled to load her first cargo of clean petroleum products towards the end of April, KCC said."Like her sister vessels, the MV Bass has been named after a fish/sea creature, honoring KCC’s commitment to clean oceans and environmentally friendly shipping…

15 Mar 2021

Bahri Chemicals Expands Fleet, adds Nine Chem Tankers on Charter

Bahri CEO Eng Abdullah Aldubaikhi

Bahri business unit will cement its position as world’s largest operator of chemical tankers in IMO2 MR class with 31 vesselsBahri said that its business unit Bahri Chemicals has concluded a long-term time charter agreement with Dubai-headquartered international shipping company United Arab Chemical Carriers Limited (UACC). As part of the deal, nine UACC IMO2 MR (medium range) chemical tankers will join Bahri Chemicals’ fleet from April 2021 onward, bringing the total number of vessels of the same class that it operates to 31.Eng.

13 Jan 2021

Klaveness' New Combination Carrier Delivered from New Yangzi Shipyard

(Photo: Klaveness Combination Carriers)

Norway-based shipowner Klaveness Combination Carriers said it took delivery of a new combination carrier vessel from the New Yangzi Shipyard in China on Monday.The Baiacu is the sixth in a series of eight contracted CLEANBU combination carriers built for transportation of both wet and dry bulk cargoes. According to Klaveness, CLEANBUs vessels have up to 40% lower CO2 emissions per ton mile transported cargo compared to standard vessels, in line with IMO’s 2030 targets for shipping.Baiacu's…

13 Oct 2020

Klaveness Combination Carriers Takes Delivery of MV Bangus

 MV Bangus - Credit: KCC

Oslo-listed  Klaveness Combination Carriers  (“KCC”) has taken delivery of the MV Bangus carrier from New Yangzi Shipyard in China. KCC Tuesday said Tuesday the MV Bangus was the fifth of in total eight contracted CLEANBU combination carriers."The CLEANBUs are unique vessels both in terms of design, their unprecedented environmental performance, operational and technical efficiency. These vessels have up to 40 lower CO2 emissions per ton mile transported cargo compared to standard vessels…

02 Dec 2019

KCC Names MV Barracuda

Norway-based shipowner Klaveness Combination Carriers (KCC) has named its second CLEANBU vessel, MV Barracuda, after it completed a first switch between dry cargo and a cargo of clean petroleum products (CPP).MV Barracuda was named at anchorage outside Singapore by Ms. Su Yin Anand, head of Legal at South32 Marketing Singapore, one of KCC’s largest customers.As all the other CLEANBU vessels, MV Barracuda was named after a “sea creature” to show KCC’s commitment to clean oceans and KCC’s ambition be a driving force to improve the environmental footprint of deep-sea tanker and dry bulk shipping.The naming ceremony was made after MV Barracuda…

19 Nov 2019

Schottel Enters the Tanker Segment

Photo: SCHOTTEL

Schottel recently received an order to supply two EcoPellers and a bow thruster for installation in a chemical/oil tanker. The tanker will be built at Chinese shipyard Taizhou Kouan Shipbuilding and will be operated by a European owner.The 120 m x 21 m vessel is powered by an electric motor, which is vertically integrated into the azimuth thruster. The propulsion system of the tanker consists of two Schottel Rudder EcoPellers type SRE 460 L FP with an input power of 2,000 kW each and one Schottel Transverse Thruster type STT 170 FP.

06 Sep 2019

Navig8 Product 2020 Adds New MR Tanker

Shipping company Navig8 Product 2020 has taken delivery of a new scrubber-fitted MR tanker, the Navig8 Gauntlet.The  international shipping company focused on the transportation of  Clean Petroleum Products (CPP) said that the 49,000 dwt vessel was delivered from Japan’s New Times Shipbuilding and is the sixth unit in a series of eight such scrubber-fitted tankers in the company’s newbuilding program.The Navig8 Guantlet will be entered into and operated in Navig8 Group’s Chronos8 commercial pool, it said.Last month, the company took delivery of the Navig8 Goal. The scrubber-fitted MR tanker from New Times Shipbuilding has entered into and operated in Navig8 Group’s Chronos8 commercial pool.

01 Sep 2019

Chemical Tanker Market to Recover

The recovery of the chemical tanker market continued into the second quarter as main drivers were strong US exports and healthy volume development throughout the quarter on main trades, said Odfjell SE.The Clean Petroleum Products (CPP) market weakened which led to a net increase of 20 coated MR's trading chemical/veg-oils during the quarter, hereby increasing supply pressure for chemical tankers towards the end of the quarter, said the company specializing in worldwide seaborne transportation and storage of chemicals and other specialty bulk liquids.The global chemical tanker order book stands at 6.6% of the current fleet. The global deep-sea fleet based on vessels larger than 18,000 dwt grew by net 6 vessels in 2Q19 as 8 vessels were delivered, and 2 vessels were scrapped.

10 Jun 2019

Workboat Report: The U.S. Workboat ($33.8B) Market

Inland pushboat and barge. Source Kirby Corporation

The U.S. towing and tug business is 5,500 boats, more than 31,000 barges with an estimated total impact on U.S. GDP of $33.8 billion.“At a macro level, the bigger ships are causing downward pressure on the ship assist business because there are fewer ship calls given the increased capacity of these vessels. However, certain ports have seen tremendous growth, based on strategic location and infrastructure investments that have attracted these larger ships and been a net plus for these areas.”Kate Fuhrman…

03 Jun 2019

TORM Adds Four MR Tankers

Danish shipping operator TORM has reached an agreement to acquire four modern 2011-built MR vessels “at an attractive price point”."Looking into an improving demand-supply situation for the transportation of clean petroleum products, we believe that the timing for a fleet expansion with modern vessels is appropriate and underlines the flexibility provided by our strong capital structure," says Executive Director Jacob Meldgaard.A press release from the carrier of refined oil products said that it has agreed to buy the quartet for a total consideration of USD 83m with expected delivery between August and December 2019.The vessels are built at the Korean yard Hyundai Mipo.

25 Apr 2019

Klaveness Signs COA for CLEANBUs

Norwegian shipping company Klaveness Combination Carriers (KCC) has signed a Contract of Affreightment (COA) with a Australian importer and distributor of clean petroleum products (CPP) for its new generation of combination carriers, the CLEANBUs.The COA, which was signed by a Klaveness subsidiary,  covers multiple cargoes over a period of up to 12 months with commencement within 2nd quarter 2019, said a press release from the newly formed KCC,  which is 63% owned by Klaveness Ship Holding.KCC’s Managing Director Engebret Dahm said: "The COA is an important milestone for the introduction of the CLEANBU vessels and the validation of the CLEANBU concept in the CPP market.

15 Mar 2019

Bouchard Takes Delivery of Yet another ATB Unit

M/V Evening Breeze

Bouchard Transportation Co. announced the delivery of ATB unit M/V Evening Breeze and Barge No. 252 (B. No. 252), respectively, from VT Halter Marine Inc. (VT Halter Marine) and Bollinger Shipyards.M/V Evening Breeze left VT Halter Marine’s Pascagoula Shipyard facility on Tuesday, March 12, 2019, and will meet and pair up with B. No. 252 before sailing to join Bouchard’s fleet service in New York.The Evening Breeze is 4,000hp meeting U.S. EPA-Tier 4 requirements, measuring 112 feet by 35 feet by 17 feet, and equipped with an Intercon Coupler System.

11 Oct 2018

Stena Bulk Forms Chemical Tanker JV with Bay Crest Management

GSW Frontier (Photo: Stena Bulk)

Golden-Agri Stena, a joint venture between Sweden based tanker shipping company Stena Bulk and Indonesia’s largest palm oil producer Golden Agri-Resources, has started a new joint venture with Japan's Bay Crest Management for the the operation and commercial management of chemical tankers.The new joint venture, GSB Tankers, will commence operation on January 1, 2019, managing 18 chemical tankers to start, with the aim of managing 30 vessels within the next two years.The joint venture will operate out of the existing premises of Golden-Agri Stena.

15 Mar 2018

Chemical Tankers Market to Grow at a CAGR of 4.5% by 2022

The chemical tankers market is projected to grow from USD 26.63 billion in 2017 to USD 33.11 billion by 2022, at a CAGR of 4.5% between 2017 and 2022, said a research report. The flourishing chemical industry and increasing use of water transportation for transferring chemicals from one place to another across the globe are the major driving factors for the growth of the chemical tankers market, said Report Linker. Chemical tankers market includes revenues earned through shipping of chemicals and related products. The growth of the chemical tankers market is expected to be adversely impacted by the political unrest in the Middle East & Africa region as this region is one of the leading markets for chemical tankers.

15 Jan 2018

Crowley Orders ATB at Bollinger

(Image: Crowley)

Crowley Fuels LLC has signed a contract with Bollinger Shipyards for the construction of a new 100,000-barrel-capacity articulated tug-barge (ATB) to transport multiple clean petroleum products in the Alaska market. The Alaska-class vessel will be built at Bollinger Marine Fabricators Shipyard, in Amelia, La., with an expected delivery in the fourth quarter of 2019. The build contract includes an option for a second ATB. Once built and deployed, Crowley will operate the ATB under a long-term charter with Alaska-based Petro Star Inc.…

14 Oct 2017

Contanda Secures Prime Waterfront Acreage on the Houston Ship Channel

Contanda Terminals LLC,  a  provider of bulk liquid storage and logistics services in North America, has announced a multi-year commercial agreement with the Port of Houston Authority for 339 acres of prime deep-water access property located on the Houston Ship Channel. The land acquisition enables Contanda to continue to develop its key strategic business objective of doubling its terminal storage capability over the next five years, and expanding into the bulk petrochemical and hydrocarbon markets. This will further strengthen the company’s presence along the U.S. Gulf Coast where project investments have surged since 2014 and Contanda already operates three other bulk terminals.