Chemical Carriers News

16 Apr 2019

Bahri Expands Footprint in Asia-Pac

Photo: Bahri

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…

12 Mar 2019

HazSub Spill Response Plans

© VanderWolf Images/AdobeStock

On August 18, 1990, the Oil Pollution Act of 1990 (OPA 90) was enacted into law. Section 4202 of that Act amended the Federal Water Pollution Control Act (FWPCA or Clean Water Act) to require tank vessels and marine transportation-related facilities to prepare and submit to the US Coast Guard plans for responding, to the maximum extent practicable, to a worse case discharge, and to a substantial threat of such a discharge, of oil or a hazardous substance carried in bulk as cargo.

22 Jan 2019

Shipbuilding: OSC Orders VLCC Pair

Michael Jorgensen  (Photo: OSC)

Oman Shipping Company (OSC) is expanding courtesy of an order for a pair of newbuild Very Large Crude Carriers (VLCC ) with Daewoo Shipbuilding & Marine Engineering (DSME).According to Michael Jorgensen, OSC's CFO and acting CEO,  said the VLCCs are expected to be deployed in the spot market, as the company plots further fleet expansion in the bulk and container market.Today OSC’s fleet includes 49 vessels including 16 VLCCs, 17 product tankers and 4 chemical carriers.The two latest additions will be constructed at DSME’s Okpo shipyard measuring 336m in length…

11 Dec 2018

AET Grows in Brazil

Eagle Paraiba. Photo: AET_Tankers

With the ongoing development of deepwater pre-salt plays and a decreased demand on local content in tankers and other vessels, Brazilian national operator Petrobras and other super-majors have been looking abroad for better rates and reliable operators of shuttle tankers. Claudio Paschoa, Maritime Reporter’s correspondent in Brazil spoke to Peter Liew, Global Director – Mid Size Tankers, Crude Shipping, about AET Tankers’ history and its operations in Brazil.AET (formerly American Eagle Tankers) was founded in Houston in 1994 primarily to conduct lightering operations in the Gulf of Mexico.

19 Nov 2018

Oman Shipping: Strong Domestic Performance

Debasish Mohapatra (Photo: OSC)

Oman Shipping Company (OSC) is reporting strong performance in domestic markets following long-term deals with local refineries and traders including ORPIC and OTI.OSC’s growth in the region is being driven by a 20-year contract to transport condensate for ORPIC (Oman Oil Refineries and Petroleum Industries Company) and a 15-year deal transporting methanol for OTI (Oman Trading International) from Salalah Methanol plant.The company is further supporting the export of LPG from Sohar Refinery to Yemen, Sudan, India, Bangladesh and Sri Lanka.

07 Aug 2018

Shipping Executive Focus: Art Regan, Executive Chairman, Genco Shipping & Trading

Art Regan, Executive Chairman, Genco Shipping & Trading. (Photo: Genco)

Art Regan, who has been the Executive Chairman at Genco Shipping and Trading (NYSE: GNK) since October 2016, personifies the new type of shipping executive, savvy on all things maritime (he is a graduate of SUNY Maritime College at Fort Schuyler) coupled with a keen understanding of market dynamics. Regan commenced his maritime industry career at sea, rising through the shipboard officer ranks completing as a Master Mariner during a more than ten-year period sailing on oil tankers and dry bulk vessels.

05 Jan 2018

Recent Vessel Sales: December 2017

Clipper Panorama (Photo: Clipper Group)

Vessel sales for December 2017 (as of January 1, 2018) as prepared by Shipping Intelligence, Inc., New York.

06 Nov 2017

Recent Vessel Sales: October 2017

Vessel sales for October 2017 (as of November 1) as prepared by Shipping Intelligence, Inc., New York. 10/29 - COASTAL NO.

09 Aug 2017

Recent Vessel Sales: July 2017

Vessel sales for July 2017 (as of August 1) as prepared by Shipping Intelligence, Inc., New York.

05 Jun 2017

Recent Vessel Sales: May 2017

Vessel sales for May 2017 (as of June 1) as prepared by Shipping Intelligence, Inc., New York.

23 May 2017

Gulf Bidders Emerge for UASC-linked Shipping Unit

File photo: UACC

Gulf-based bidders have emerged for the part-owned subsidiary of United Arab Shipping Company (UASC) whose sale is key to finalising the merger between UASC and German container shipping line Hapag Lloyd , sources close to the matter said. Last week, sources told Reuters that Hapag Lloyd was close to completing the 7-8 billion-euro merger after UASC shareholders agreed terms to repay outstanding debt. A sale of United Arab Chemical Carriers (UACC) - in which UASC holds the biggest stake - is also part of the terms of the Hapag Lloyd merger deal.

18 May 2017

Hapag-UASC Tie-up Nears Completion

Photo: Hapag-Lloyd

German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company (UASC) after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters. The deal to create the world's fifth-biggest shipping company, valued at about 7 billion to 8 billion euros ($7.8-$8.9 billion), had been scheduled to complete at the end of last year. It would give Hapag Lloyd access to bigger ships on the major Asia to Europe trade route.

04 May 2017

Recent Vessel Sales: April 2017

Vessel sales for April 2017 (as of May 1) as prepared by Shipping Intelligence, Inc., New York.

28 Mar 2017

Hapag Lloyd-UASC Merger Hits Snags

Photo: Hapag-Lloyd

A merger of Hapag-Lloyd and United Arab Shipping Company (UASC) has hit a snag, with the German shipping line and some banks seeking assurances that UASC's top shareholder Qatar remain committed to the deal for the long term, sources say. Hapag Lloyd Chief Executive Rolf Habben Jansen told a news conference this week he had underestimated the complexity of the 7 billion to 8 billion euro ($7.6-$8.7 bln) deal, which will create one of the world's largest shipping lines. Two finance sources…

09 Mar 2017

Recent Vessel Sales: February 2017

2/19 - MSR NO.

11 Dec 2016

IRISL, Hyundai Ink Shipbuilding Contract

At the signing ceremony of the contracts, Chung Ki-sun, executive vice president of Corporate Planni. Photo: Hyundai Heavy Industries (HHI)

Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding group, announced on  that it signed contracts, financed by Korean financiers to build 14,500 TEU class containerships and 49,000 DWT product/chemical carriers with Islamic Republic of Iran Shipping Lines (IRISL), one of the biggest shipping companies in the middle east. The negotiations for these contracts commenced in December 2015 with mutual good will and a series of constructive meetings in Seoul and Tehran, resulted in conclusion and signing of the contracts on December 9, 2016 in Seoul.

10 Nov 2016

Shipping Recovery Faces Supply/Demand Challenges

Photo: Maersk Line

The shipping industry faces a stormy road to recovery, with uneven supply/demand trends set to test the nerve of investors and operators, according to independent research and consultancy firm Maritime Strategies International (MSI). Addressing the Hansa Forum in Hamburg, Germany this week, MSI Senior Analyst James Frew warned that the industry will continue to face multiple challenges to a sustained recovery despite positive demand fundamentals. “The commodity shipping sectors…

04 Nov 2016

Recent Vessel Sales: October 2016

Vessel sales for October2016 (as of November 1) as prepared by Shipping Intelligence, Inc., New York.

07 Oct 2016

Recent Vessel Sales: September 2016

Vessel sales for September 2016 (as of October 1) as prepared by Shipping Intelligence, Inc., New York.

01 Sep 2016

MN100: Alternative Marine Technologies

Robert Kunkel (Photo: Alternative Marine Technologies)

Established in 2007, Alternative Marine Technologies (Amtech) has been a leader in design and construction of alternative energy propulsion solutions aboard several series of vessels, built both domestically and abroad. With 23 employees, the firm continues to grow. Alternative Maine Technologies has been employed as the construction manager for myriad cutting edge marine technology projects. For example, AMT delivered the first Hybrid propulsion research vessel, is currently building the first LNG bunker vessel in the United States and is also now building six 25…

15 Aug 2016

Bahri Secures $133m Funding for Five Ships

Photo National Shipping Company Of Saudi Arabia (Bahri)

National Shipping Company of Saudi Arabia (Bahri) said on Sunday that a subsidiary had secured $133.2 million in Islamic financing to purchase five chemical tankers. The funding will be provided to National Chemical Carriers by Arab Petroleum Investments Corporation and BNP Paribas in the form of a murabaha facility for a 10-year period, it said in a bourse statement. A murabaha is a cost-plus-profit arrangement which complies with Islamic finance standards. (Reporting by Mariam Abu Bakr; writing by Tom Arnold; editing by Jason Neely)

10 Aug 2016

Recent Vessel Sales - July 2016

Vessel sales for July 2016 (as of August 1) as prepared by Shipping Intelligence, Inc., New York.

28 Jul 2016

Insights: Kunkel Weighs in on Propulsion Technology

Bob Kunkel - President, Alternative Marine Technologies, Inc.

LNG? Methanol as fuel? Hybrid systems? Tier 4? Reducing noise? Cutting emissions without crushing fuel economy? Marine News readers have questions and Bob Kunkel has answers. Kunkel, President of Alternative Marine Technologies, previously served as the Federal Chairman of the Short Sea Shipping Cooperative Program under the Maritime Administration and Department of Transportation from 2003 until 2008. A past Vice President of the Connecticut Maritime Association, he is a contributing writer for Maritime Professional and Marine News.

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