Chemical Tankers News

US-based tanker owner Diamond S Shipping Inc. said it has appointed Kevin M. Kilcullen as its new Chief Financial Officer.Kilcullen comes to Diamond S from Oslo-listed chemical and product tanker owner/operator Team Tankers International Ltd., where he served as CFO for three years. Prior to that, he was CFO at Principal Maritime LLC, a private equity backed owner of crude and chemical tankers.Diamond S Shipping Inc. expects to become an NYSE-listed company with the closing of its combination with the crude and product tanker business of Capital Product Partners L.P. later this month. The firm will own 16 crude and 52 refined product tankers.“The company is listing in the public market at a cyclically opportune time and is well positioned for future industry consolidation,” Kilcullen said.

Marittima Emiliana, a company owned by the Amoretti family’s Armatori Group, has placed an order for the 4,500 dwt  tanker duo at Ningbo Xinle Shipbuilding, a Chinese shipyard specialising in small chemical construction.Watson Farley & Williams (WFW) advised Crédit Agricole Italia on two financings for Marittima Emiliana for the construction of the two chemical tankers.Construction will start in 1H 2019m, with delivery is scheduled for 2020. This transaction represents the Amoretti…

Team Tankers International, the owner and operator of chemical tankers for the seaborne transportation of liquid chemicals worldwide, announced that Kevin Kilcullen has resigned his post as chief financial officer (CFO)."Kevin Kilcullen today tendered his resignation as Chief Financial Officer of Team Tankers International to pursue another professional opportunity," said a press release from the shippig company.The resignation will take effect on April 17, 2019 and he will continue with the Company until that date to ensure an orderly transition.Jens Gisle Schnelle…

Navig8 Chemical Tankers  entered into sale and leaseback agreements with ICBC Financial Leasing for four ships.The tanker company focuses on the maritime transportation of Chemicals worldwide said in a press release that the net proceeds from the transaction of four of the Company’s IMO2 37,000 DWT Interline coated tankers  were $94,710,000.A portion of the proceeds was utilized to repay existing loans used to finance the Vessels’ newbuilding contracts under the multi-bank loan facility announced by the Company on February 3…

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.

Singapore-based MOL Chemical Tankers (MOLCT) and Dutch Den Hartogh Logistics have established a strategic alliance to jointly develop and streamline liquid chemical logistics services utilizing tank containers, parcel chemical tankers and tank terminals.MOL Chemical Tankers is one of the global leaders in ocean transport, specializing in chemical parcel tankers for bulk liquid chemicals and vegetable oil and animal fats.As strategic partners MOLCT and Den Hartogh Logistics offer their customers in the petrochemical industry truly global supply chain solutions…

Bermuda-based owner of product and chemical tankers Ardmore Shipping has refinanced seven vessels under finance lease arrangements during the fourth quarter of 2018.According to a stock exchange announcement, the company has options to repurchase the vessels at various stages prior to maturity and the other terms and conditions of the financings are generally in line with Ardmore's existing debt facilities.The Ardmore Dauntless and Ardmore Defender, two 2015-built 37,000 Dwt Eco-design IMO 2 product / chemical tankers…

Japanese shipping giant MOL's Chemical Tankers unit has agreed to take full control of Triton-owned Nordic Tankers. The deal expected to close in February 2019.Denmark-based Nordic Tankers said in a press release that its current sole shareholder Triton agreed to sell and deliver 100% of shares to MOL Chemical Tankers (MOLCT) and MOLCT buys and takes delivery of 100% of shares of NT from Triton, in each case together with all rights attached to them on and with effect from the…

Swedish family-owned shipowner Rederi AB Donsötank has contracted two oil products and chemical tankers at Chinese Wuhu Shipyard Co. Ltd.The vessels will be delivered in 2021, the Gothenburg-based shipping company said in a press release.The vessels are designed by FKAB, based on a well-known low-resistance hull design. Together we have a long relation in development of newbuildings, with focus on safe transports, working environment and to reduce the impact on the environment.The vessels are ice strengthened to ice class 1A…

The Port of Rotterdam Authority will widen and facilitate the Green Award discount for sea-going shipping from the start of 2019.The discount will encourage safe and green shipping in the liquid bulk segment. From 2019 onwards, certified chemical tankers and sea-going vessels with a cargo capacity (DWT) of less than 20,000 tons may also make use of the scheme.Also new for 2019 is that the Port Authority is making the port dues process more customer friendly for shipping lines whose vessels call at the Port of Rotterdam.

Bermuda-based product and chemical tankers owner Ardmore Shipping Corporation announced that it has signed binding agreements for the refinancing of three vessels.The provider of seaborne transportation of petroleum products and chemicals worldwide to oil majors has signed agreements for the sale and leaseback, under a finance lease arrangement, of the Ardmore Exporter and Ardmore Seavanguard, two 2014-built 50,000 Dwt Eco-design MR tankers, with a high-quality financier in China.The lease agreements are for a period of seven years…

ST Engineering reports that its marine sector won $311m worth of shipbuilding/repair contracts in the third quarter alone, including options for its shipbuilding business, as well as the ship and rig repair segments for progressive deliveries at its yards in Singapore and the US. In the US, the Naval Sea Systems Command (NAVSEA) awarded its US shipyard a contract, including options worth $244m for the detailed design and construction (DD&C) of two firm and up to four optional Auxiliary Personnel Lighter Small APL Class Berthing Barges. The anticipated delivery periods of the two firm vessels are in the second and third quarter of 2020, respectively.

Ocean Yield has agreed to acquire two 2015 built 37,000 dwt IMO II chemical tankers with 12-year bareboat charters to companies owned and guaranteed by Ardmore Shipping Corporation. The aggregate purchase price is approximately USD 51 million net of pre-paid charter-hire.The ship owning company with investments in vessels on long -term charters also announced that it has today taken delivery of the newbuilding suezmax crude tanker Nordic Tellus from Samsung Heavy Industries' shipyard…

Ardmore Shipping Corporation has announced that it has signed agreements for the refinancing of four vessels.Two of Ardmore's subsidiaries have signed agreements for a sale and leaseback of the Ardmore Dauntless and Ardmore Defender, two 2015 built 37,000 Dwt Eco-design IMO 2 products and chemical tankers, with Ocean Yield ASA (Ocean Yield). The lease agreements are for a period of 12 years and the Company has options to repurchase each vessel at various stages prior to maturity.

ABS released new guidance and software to assist chemical tanker owners, operators and shipyards: the ABS Guide for Materials and Welding for Stainless Steels and ABS CHEM software.The ABS Guide for Materials and Welding for Stainless Steels provides minimum requirements for properties, manufacturing processes and fabrication techniques applicable to common types of stainless steels used in the marine and offshore industries. This new guidance is particularly relevant to construction…

The Panama Canal closed its 2018 fiscal year with a record tonnage of 442.1 million Panama Canal tons (PC/UMS), which represents a 9.5 percent increase from the previous year, the Panama Canal Authority reports.With this tonnage, the Panama Canal surpasses the cargo projections of 429.4 million PC/UMS tons for FY 2018, as well as the 403.8 million PC/UMS tons registered in FY 2017."The Panama Canal continues to exceed our expectations, reinforcing every day the importance of the waterway's expansion and its impact on global maritime trade," said Panama Canal Administrator Jorge L. Quijano.

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.

The Austrian petrochemical company Borealis has announced that it is to build a new production plant on its existing site in Kallo, in the Antwerp port area.According to a press release, the propane dehydrogenation (PDH) plant will use the very latest technology in terms of sustainable production and energy efficiency. With this initiative the port of Antwerp confirms and reinforces its role as the largest chemical cluster in Europe.The intention to build a new PDH plant to convert propane into propylene has been known for some time.

BW LPG Limited (BW LPG) announced that it has withdrawn its proposal to combine with Dorian LPG Ltd. (Dorian). BW LPG will also withdraw the candidates it previously intended to nominate to stand for election to the Dorian board at Dorian’s 2018 Annual Meeting of Shareholders.BW LPG also announced that the following letter has been sent on October 8, 2018 to the Chairman, President and Chief Executive Officer of Dorian:Mr. John HadjipaterasChairman, President and Chief Executive OfficerDorian LPG Ltd.c/o Dorian LPG (USA) LLC27 Signal RoadStamford…

High-sulphur fuel oil (HSFO), essentially the leftovers of an oil refiner's output, will still flow from refineries around the world even after new rules start up in 2020 curtailing its use in the global shipping fleet, a Reuters survey showed.Sixty percent of the 33 refineries contacted by Reuters in a global survey will still produce HSFO in 2020 although the supply will tighten as 70 percent of these refiners plan to reduce their output.Starting that year, ships will have to use marine fuel…

DESMI Ocean Guard A/S has announced that the CompactClean Ballast Water Management System (BWMS) has received International Maritime Organization (IMO) Type Approval according to the revised IMO BWMS code.This approval means that the CompactClean BWMS becomes one of only two systems worldwide approved for installation on vessels also after October 28, 2020.On September 21, 2018 DESMI Ocean Guard’s CompactClean Ballast Water Management System (BWMS) received IMO Type Approval according to the IMO Code for Approval of Ballast Water Management Systems (resolution MEPC.300(72)), also often referred to as the revised G8. The approval was…

The provider of mobile connectivity and inertial navigation systems  KVH Industries said that it innovative Connectivity as a Service (CaaS) program, 'AgilePlans', is fast-growing choice of global maritime fleets."Increased demand for the AgilePlans subscription-based Connectivity as a Service (CaaS) program from KVH Industries has been the driving force behind the company’s unprecedented growth in VSAT unit deployments during the first six months of 2018, a timeframe when the maritime industry has been increasing its drive toward digitalization…

The International Maritime Organization’s (IMO) decision to implement a 0.50 percent cap on sulphur emissions has created uncertainty among vessel operators. Questions are already being asked about how to comply with the changing emissions target, what types of fuels will be available and where. However, ensuring compliance isn’t just about fuel selection; the actual switchover process from heavy fuel oil (HFO) to new, low-sulphur alternatives needs careful management. There are…