Diamond S Shipping Sells MR Vessels
Diamond S Shipping Inc, the owner and operator of crude oil and product tankers, has sold two 2008-built MR vessels, the Atlantic Aquarius and Atlantic Leo, generating approximately $11.3 million of liquidity before settlement of working capital.A non-cash write-off of $18.3 million was recognized in connection with the vessel sales, it said.Diamond S Shipping owns and operates 66 vessels on the water, including 15 Suezmax vessels, one Aframax and 50 medium-range (MR) product tankers.The company groups its business primarily by commodity transported and segments its fleet into a 16-vessel crude oil transportation fleet (the Crude Fleet) and a 50-vessel refined petroleum product transportation fleet (the Product Fleet).The Crude Fleet consists of 15 Suezmax vessels and one Aframax vessel.
Iranian Tankers Free to Enter International Ports
Restrictions on Iranian tankers’ insurance have been removed and the country’s crude carriers are now allowed to enter any oil terminal in the world, National Iranian Tanker Company (NITC)'s CEO Ali Akbar Safaee said. “With the resolution of insurance problems, international insurance institutes have expanded their coverage to Iranian vessels, which can now berth at all ports,”he said. “Accordingly, all tankers that are under Iran’s ownership as well as any [foreign] tanker that enters Iran’s ports will not have any problem with regards to the issue of insurance," he added. He explained that in the wake of the removal of the sanctions foreign ships are also now able to dock at the Iranian ports.
Pertamina to Procure 32 Oil Tankers
PT Pertamina will procure 32 oil tankers totaling more than 800,000 dwt for domestic oil shipments, according to a report on Antara News. The company`s president was quoted in the report as saying that the company’s oil transportation fleet is aging and needs refurbishment, and that the company would procure the tankers under the bare boat hire purchase scheme, with the intent to own them after about 10 years. Though competition to provide the tonnage would be strong, it was indicated that Pertamina would prioritize locally built vessels. The tankers are expected to be ready starting from 2008 to 2012, and will include two 500 dwt LPG tankers, four 3,500 dwt, three 6,500 dwt tankers, ten 17,500 DWT, ten 30,000 dwt tankers and three Aframax with a capacity above 100,000 dwt.
