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Chemical Product News

21 Dec 2022

FureBear Orders Svanehøj Electric Cargo Pumps for Seven Tankers

Vinga Series Chemical Product Tankers - ©Svanehøj

Denmark-based marine pump maker Svanehøj said Wednesday it had secured an order to deliver electric cargo pumps for seven LNG-/LBG-fueled chemical & product tankers. The client is the joint venture-company FureBear.Swedish Furetank AB and Canadian Algoma Central Corporation have entered into a joint venture agreement to construct eight LNG/LBG-fueled ice class 1A chemical & product tankers (17,999 DTW) to trade in Northern Europe.The joint-venture company, FureBear, is now placing a significant order with the pump specialist Svanehøj…

12 Dec 2020

Via Kaizen Project Aims to Deliver AI-powered Ship Ops Support System

Photo: Lean Marine/Via Kaizen Project

A group of Swedish technology entrepreneurs and academics joined forces to accelerate the research and development of an AI-based, semi-autonomous system for planning and executing more energy efficient sea voyages.Leading the effort is Lean Marine, aiming to deliver a ground-breaking R&D project to accelerate the tech development, realization, and adoption of AI-powered ship operation support technology by ship crew and management. The Via Kaizen project is funded by the Swedish Transport Administration…

25 Feb 2020

Top Ships Sells Stenaweco Elegance

Greek ship-owning company Top Ships Inc. announced the completion of sale of MT Stenaweco Elegance.According to a press note from the owner and operator of modern, fuel efficient "ECO" tanker vessels, its previously announced sale of tanker was concluded.The vessel was delivered to its new owner, an unaffiliated third party, and the respective loans for which the vessel was a collateral for were fully prepaid.Few days ago, the Greek tanker owner sold its 50% owned MR2 chemical/product tankers  M/T Holmby Hills and M/T Palm Springs.The vessel sales are subject to customary closing conditions and are anticipated to be concluded during March 2020, said Top Ships.

18 Dec 2019

BWTS Retrofits Drive Navalrocha Biz

Paxoi bunker tanker, managed by MM Marine Inc (Photo courtesy of  Navalrocha shipyard)

Portugal's Navalrocha shipyard reports a strong influx of BWTS (Ballast Water Treatment System) retrofit projects for 2020.The shipyard completed its first ever BWTS installation with technical engineering partner Step Consolidated on the Paxoi bunker tanker, managed MM Marine Inc.Navalrocha Commercial Director Sergio Rodrigues said the contract sparked a series of other deals with five more BWTS retrofit projects scheduled for 2020.“The Paxoi installation process was carried out in the last quarter of 2019 during a 16-day drydocking,” he said.

09 Dec 2019

Bahri Looks to Make LNG Foray

© Mike Mareen / Adobe Stock

Saudi Aramco's shipping arm Bahri has issued an expression of interest (EOI) to charter up to 12 liquefied natural gas (LNG) tankers from 2025, its first foray into the superchilled fuel, industry sources said on Monday.No further details were immediately available and Saudi Aramco declined to comment. EOIs are preliminary enquiries that may or may not turn into full-fledged orders.According to Bahri's website, the national shipping carrier of Saudi Arabia has six business units dealing in oil…

16 Apr 2019

Bahri Expands Footprint in Asia-Pac

The National Shipping Company of Saudi Arabia (Bahri) has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry.The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region, said a press release from the logistics and transportation company.The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company, to market their offerings, acquire new clients, serve existing clients, and channelize the communications. Bahri has plans to expand the services of its other business units to the APAC region in the future.

01 Oct 2018

Trafigura Concludes TNG's Dalmacija Charter

Commodity trading company Trafigura has terminated a time charter contract for chemical/product tanker Dalmacija with Croatian shipping company Tankerska Next Generation (TNG). "After nearly three years from delivery, TNG and Trafigura have mutually agreed to conclude an almost fully utilized time charter employment contract for the eco-designed MR product tanker Dalmacija," said a press release from the Croatian tanker owner.The vessel has been redelivered with compensation for early re-delivery, in line with the contractual terms.With this contract, Tankerska Next Generation has completed a successful period of business with one of the leading global oil and oil derivatives traders and looks forward to future engagements with the distinguished charterer…

07 May 2018

Capital Products Acquires M/T Anikitos

Capital Product Partners L.P. has announced that it has completed the previously announced acquisition of the M/T Anikitos, an eco-type MR product tanker (50,082 dwt IMO II/III Chemical Product Tanker built 2016, Samsung Heavy Industries (Ningbo) Co., Ltd.) for a total consideration of $31.5 million from Capital Maritime & Trading Corp.The Partnership funded the acquisition of the M/T Anikitos with the net proceeds received from the sale of the M/T Aristotelis, available cash and the assumption of a term loan under a credit facility with ING Bank NV of approximately $15.6 million. The term loan is non-amortizing for a period of two years from the anniversary of the dropdown with an expected final maturity date in June 2023 and bears interest at LIBOR plus a margin of 2.50%.

13 Feb 2018

MOL Allies with NCC

Japanese shipping company Mitsui O.S.K. Lines (MOL) has signed a capital and business alliance agreement with chemical tank specialist logistics provider Nippon Concept Corporation (NCC). "MOL and NCC concluded the agreement with the objective of developing a comprehensive two-way strategic partnership including both partners' group companies, and steadily enhancing their businesses," said a statement from the company. The agreement gives NCC the opportunity to globally increase its name recognition and enhance its competitiveness by integrating MOL Group companies' overseas networks with its existing networks. For MOL, it will be an opportunity to expand business in liquid chemical product transport business…

31 Jan 2018

Capital Product Partners Adds Two Vessels, Sells One

Greece-based international diversified shipping partnership Capital Product Partners announced the completed acquisition of the M/T ‘Aristaios’, as well as the sale of the M/T ‘Aristotelis’ and the acquisition of the M/T ‘Anikitos’. On January 17, 2018, the Partnership acquired the eco-type crude tanker ‘Aristaios’ (113,689 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding Co. Ltd., South 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 at a gross daily rate of $26,400. The Tesoro charter commenced in January 2017 with duration of five years +/- 45 days.

14 Dec 2017

Aldubaikhi Named Bahri’s Next CEO

Abdullah Aldubaikhi will take over as CEO at Saudi Arabia’s largest shipping company Bahri, effective January 1, 2018 (Photo: Bahri)

Saudi Arabian maritime transport and logistics company Bahri has appointed Abdullah Aldubaikhi as its new chief executive office. Aldubaikhi’s appointment, which takes effect January 1, 2018, comes as the company gears for a new phase of expansion following several months of growth, according to Bahri chairman, Abdulrahman M. Al-Mofadhi. Aldubaikhi joins Bahri from Saudi Agricultural and Livestock Investment Company (SALIC), where he served as CEO for six years. He previously held senior management roles at several firms, including Afwaf Investment, Awalnet and DowLog Technology Company.

25 Aug 2017

Capital Product Bags 3 MR Charters

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…

28 Jul 2017

Capital Product Partners Sings Pact for $460 Mln Refinancing

Capital Product Partners  entered into a firm offer letter for a senior secured term loan facility of up to $460.0 million with HSH Nordbank AG and ING Bank as mandated lead arrangers and bookrunners and BNP Paribas and National Bank of Greece S.A. as arrangers. The lenders also include Alpha Bank S.A., Piraeus Bank S.A. and Skandinaviska Enskilda Banken AB (Publ). The closing of the credit facility is subject to finalization of the long form loan documentation. "We intend to use the net proceeds of the loans under the New Facility, together with available cash of approximately $120.6 million, to refinance, four out of five of our existing credit facilities amounting to $580.6 million in total," says a statement from the company.

02 Feb 2017

Corvus to Supply Energy Storage for Hybrid Chemical Tanker

Photo: Corvus Energy

Corvus Energy Inc. has announced  that it has been selected as the supplier of the lithium ion based energy storage system (ESS) for a new hybrid chemical tanker being built for Rederiet Stenersen AS of Norway. The chemical tanker will be the first vessel of its kind to utilize an ESS for propulsion. Corvus Energy will supply its next generation Orca Energy ESS solution to integrate with WE Tech Solutions’ propulsion system, which will deliver industry environmental performance for this new vessel.

04 Jan 2017

Great Ships of 2016: Ternsund

(Photo: Tärntank Ship Management AB)

Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. The Switch has been engaged in the maritime industry for only three and a half years, but it already has approximately 20 ships in its reference list, including the first, the 15,000 dwt M/T Ternsund  (featured on this month’s cover) owned by Terntank, which is a fourth generation company that in 1958 was a one ship company, and today is an operator of ten modern chemical/product tankers in the range from 8,000 to 15,000 dwt.

30 Dec 2016

The Top 10 Ships of 2016

Maritime Reporter & Engineering News (www.marinelink.com), published since 1939, annually publishes details on the world’s “Great Ships of the Year.” Of the 18 selected as “Great Ships of 2016,” here we rank the Top 10 Ships of 2016, according to the editors of Maritime Reporter & Engineering News. Why: Second in series of the world’s first LNG powered containerships. Shipyard: Philly Shipyard Inc. Owner  Reliance Industries Ltd. Owner: Arctia Icebreaking Ltd.

22 Nov 2016

FORAN Expands User Base in Korea

Hansung Ship Eng. Power station (Photo: FORAN)

These are difficult times for the shipbuilding industry, in particular that of Korea, which faces its worst-ever order drought. Big, medium-sized and small shipbuilders are undergoing deep restructuring as a consequence of the workload downturn. However, despite the crisis Korea is still the global leader in newbuilding deliveries, and its shipyards continue to demand, and now more than ever appreciate, improvements in all areas of management, design and production. At a time of difficulty…

01 Feb 2016

Liberian Registry Reaches 4,000-ship Milestone

Scott Bergeron (Photo: LISCR)

The Liberian Registry has reached a milestone with the registration of its 4,000th vessel – the 50,000 dwt chemical / product tanker newbuilding High Trust, owned by d’Amico Tankers Limited, Dublin (d’Amico International Shipping S.A. group). Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), the U.S.-based manager of the Liberian Registry, said, “The Liberian-registered fleet continues to grow at a rapid pace with the planned addition of quality tonnage under quality ownership and management.

09 Jun 2016

ABS, Capital Ship Management Improve Propulsion Shaft Monitoring

ABS and Capital Ship Management Corp. (“Capital”), a distinguished ship management company, have collaborated to install an advanced condition monitoring system on the propulsion shafting of the Capital managed vessel M/T Agisilaos, a 36,700 dwt, Ice Class 1A IMO II/III Chemical/Product Tanker, built in 2006. The ABS Smart Bearing solution uses non-destructive testing sensors installed on the bearing pedestal and housing to measure and display the force exerted by the main propulsion shafting system onto the bearings, effectively converting the pedestal into a permanently installed weighing machine. “It was a pleasure working with Capital to develop the ABS Smart Bearing concept,” says ABS Chairman, President and CEO Christopher J. Wiernicki.

11 Dec 2014

Capital Product Partners Announces New Charters

International diversified shipping company Capital Product Partners L.P. announced that it has secured time charter employment for the M/T Aias and M/T Arionas. The M/T Aias (150,393 dwt, Crude Oil Carrier, built 2008, Universal Shipyard, Japan) will be employed with Repsol Trading S.A. (Repsol) for three years (+/- 30 days) at a gross daily rate of $26,500. Previously the vessel was employed under a time charter to Capital Maritime & Trading Corp. (CMTC) at a gross rate of $24,000 per day. The new charter will commence in February 2015 and marks the opening of a new time charter relationship for the Partnership with Repsol. The M/T Arionas (36…

15 Oct 2015

Chemical/Product Tanker Delivered to Concordia Maritime

Photo: Concordia Maritime

A 50,000 dwt IMOIIMAX MR tanker, Stena Important, was delivered to Concordia Maritime October 15, from the Chinese shipyard Guangzhou Shipbuilding International (GSI) in Guangzhou. The vessel is part of a series of 10 vessels, two of which are owned by Concordia Maritime. The chemical and product tanker can transport both oil and petroleum products as well as vegetable oils and chemicals. The Stena Important will arrive at a port in Europe for discharge at the beginning of December, upon which her naming ceremony is planned to take place.

27 Oct 2016

Furetank and Älvtank Extend LNG Tanker Order

Image: FKAB

Furetank and Älvtank extend the order with two more of next generation Intermediate Product/Chemical Tankers with LNG propulsion. Furetank Rederi AB and Rederi AB Älvtank have added the previous order with two more newbuildings. Last year a contract signed by the constellation Furetank, Älvtank and Thun Tankers to let build four chemical/product tanker in the intermediate segment of the Chinese shipyard Avic Dingheng Shipbuilding. The vessels will be built with special focus on minimal impact on the environment, with close to 50 percent reduction of CO2 emissions.

07 Dec 2015

PPG Unveils Phenguard Pro Tank Coating

Photo: PPG

PPG Protective and Marine Coatings has unveiled Phenguard Pro, a tank coating system that is intended to offer benefits for both shipyards and ship-owners. For shipyards and at installation, the coating system provides potential efficiency gains of over 20 percent compared to three-layer coating systems, PPG said. For owners it provides the wide chemical resistance and long carriage time of more than 3,400 cargoes, delivering maximum flexibility to the product tanker trades, according to the manufacturer.