CR Ocean Engineering Wins Multi-Scrubber Deal
Glasgow based Songa Shipmanagement Ltd. selected CR Ocean Engineering, LLC, as the supplier of exhaust gas cleaning systems for its oil/chemical tankers and Heavy lift vessels, with options for more. The Scrubbing Systems will enter commercial operations commencing in the late summer 2018 and go on throughout the beginning of 2020. In addition to the existing 0.1 percent sulfur fuel Emission Control Areas (ECAs) in Europe and North America, starting January 1, 2020, the rest of…
Vroon, Seagull Maritime Ink Training Agreement
The international shipping company Vroon has recently signed a fleetwide agreement with training provider Seagull Maritime. “Vroon has always been committed to safe practices and ensuring a duty of care for the safety and health of all employees and customers,” said Head Crewing, Diederic van Keulen, Vroon “We believe our continued success depends on the abilities and dedication of our staff and how we nurture each individual. We have always shared information and promoted teamwork throughout our organization.
Bahri Ship Management Complies with EU MRV
Bahri Ship Management, one of the six business units within transportation and logistics company Bahri, said it is in compliance with the submission of EU MRV (Monitoring, Reporting, Verification) plans for the full fleet, ahead of the deadline. At present, Bahri Ship Management operates 39 VLCCs, 23 chemical tankers, 10 product tankers, fivebulk carriers and six ROCONs. Seven further VLCCs are on order, with deliveries expected to be completed by May 2018. To comply with the EU MRV Regulation, ship owners and operators of vessels exceeding 5,000 GT and intending to operate to or from or within the European Union must have approved ship-specific monitoring plans (MP)…
Thun Tankers Orders another Newbuild
Thun Tankers said it has declared an option for a fifth tanker to be added to the previously contracted four 17,500 dwt IMO II product/chemical tankers on order at Avic Dingheng Shipbuilding Ltd in China. The sister ships are due for delivery between April 2019 and January 2020 and will be commercially managed by Furetank, responsible for the intermediate segment within the Gothia Tanker Alliance. In addition to the five contracted intermediate vessels, Thun Tankers together with…
Japan's JICA to Fund India's Alang-Sosiya Shipyards
The Government of India signed a loan deal worth USD 76 million with Japan International Cooperation Agency (JICA), for a project to upgrade the environment management plan at Alang-Sosiya ship recycling yards. The total cost of the project will be $ 111 million, out of which $76 million will be provided as soft loan from JICA. Out of the remaining amount, $25 million as taxes and fees will be borne by Government of Gujarat and the balance $10 million will be shared by Ministry of Shipping & Government of Gujarat.
Ektank and Utkilen Select Høglund Automation Systems
Tanker owners Ektank and Utkilen have selected marine automation specialists Høglund to provide automation systems on new chemical tankers currently under construction in China. The four 18,600 dwt tankers for Ektank, and the four 9,900 dwt tankers for Utkilen will be fitted with integrated automation systems that link together systems such as power management, cargo control and alarms. This new level of integration is essential for the vessels’ long-term performance and reliability, Høglund said.
Clean Marine Secures Multi-Vessel EGCS Contract
Clean Marine, developer of Exhaust Gas Cleaning Systems (EGCS), has secured a multi-vessel contract from Inventor Chemical Tankers AS (ICT). The agreement, covering seven 19,900 DWT chemical tankers, marks the launch of the firm’s CleanSOx Compact Hybrid Allstream scrubber to the marketplace. According to Clean Marine CEO Nils Høy-Petersen, the company has been exclusively dedicated to EGCS solutions since its inception in 2006. “Our latest product has been designed to ensure ship owners can achieve simple, cost and space efficient compliance with the IMO’s SOx regulations, coming into force in 2020,” he said. ICT has partnered with Clean Marine and technical manager Diamond Shipmanagement Pte Ltd…
Better Outlook for Chemical Tankers
Subdued ordering and a narrowing in the tonnage supply-demand gap from late 2018 is expected to support a recovery in the chemical shipping market, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. Drewry estimates that tonne-mile demand of chemical commodities will grow at 3.8% on a year-on-year basis in 2017, of which the organic trade is likely to grow only at 1.5%. By contrast, inorganic and vegoil tonne-miles are expected to increase by 6.3% and 6.5%.
Odfjell, Sinochem Form Chemical Tanker Pool
Odfjell SE said it has signed Framework Agreement with Sinochem Shipping Singapore Pte. Ltd whereby the Norwegian ship owner will take four vessels on long-term bareboat charter and together form a pool of eight 40,900 dwt chemical tankers. The four chemical tankers are part of Sinochem’s series of eight ordered from Hantong Wing Shipyard in China. Sinochem will retain ownership of the series’ four other vessels, which together with the bareboat vessels will form a pool managed by Odfjell SE and trading as part of the Odfjell Tankers fleet.
Dual-Fuel Variant of MAN L23/30 Engine Awarded TAT
MAN Diesel & Turbo’s dual-fuel MAN L23/30DF engine successfully passed its Type Approval Test (TAT) at CSSC Marine Power (CMP) in Zhenjiang in front of the industry’s main classification societies. The five-cylinder test engine in China had an output of 125 kW per cylinder at a nominal speed of 720/750 rpm. Finn Fjeldhøj – Head of Small-Bore, Four-Stroke Engineering – MAN Diesel & Turbo, expressed the company’s high expectations for the engine and said: “The L23/30DF covers a power range of 625 – 1…
Triyards Loses Two Shipbuilding Contracts
Triyards Holdings, the offshore marine division of Ezra Holdings, has swung deep into the red following the termination of two shipbuilding contracts worth some $51 million. "The Board of Directors of Triyards Holdings wishes to announce that its wholly owned subsidiary, Saigon Offshore Fabrication and Engineering Limited, has received notices of termination of the two shipbuilding contracts dated 26 June 2015 and the addendum dated 10 May 2017 for the design and construction…
Crystal Nordic Sold to Essberger Tankers
Nordic Tankers and Embarcadero Maritime (a joint venture between Borealis Maritime and KKR) have signed and closed an agreement to sell the jointly held company Crystal Nordic to John T. Essberger in Hamburg, a leading owner and operator of chemical tankers in Europe. Crystal Nordic was established following the combination of Nordic Tankers’ inter-European stainless steel chemical tanker business with Crystal Pool in 2015. The parties have agreed not to disclose any financial information.
Fotland Named COO at Odfjell
Odfjell SE has appointed Harald Fotland as chief operations officer (COO), effective January 5, 2018. The Norwegian tanker shipping firm said it is introducing a COO function to ensure full integration between ship management and commercial operations. “With the new structure, Odfjell Tankers will have common and aligned goals across all functions relating to chemical tankers,” the company said. Fotland joined Odfjell as chief of staff in 2010, and in 2015 was appointed senior vice president of Odfjell Tankers.
De Poli Tankers Extends VSAT Deal with Marlink
Dutch ship owner De Poli Tankers BV has extended its contract with Marlink, securing high-bandwidth global communication using the Sealink Plus service for its fleet of eight chemical tankers and two gas tankers. De Poli Tankers' in-house ITC company, Maritime Performances BV, chose to retain the Sealink Plus service for the future as it combines high-bandwidth VSAT with unlimited L-band back-up in a single easy to manage bundle, Marlink said. De Poli Tankers first migrated to Marlink VSAT from L-band only communications in 2013…
FSL Trust Sells Vessel to Trim Debt
FSL Trust Management, as trusteemanager of First Ship Lease Trust (FSL Trust), announces that the Trust has sold its chemical tanker, FSL Tokyo, for a cash consideration of US$13.8 million. FSL Tokyo is a 2006, Japanese-built, 20,938 DWT chemical tanker that has been deployed in the spot market. The net proceeds from this Disposal will be applied in full to the outstanding loan facility in 1Q2018. FSL Trust will record a related impairment charge of approximately US$9.0 million in 4Q2017.
Tanker Outlook: McQuilling Publishes 2018-2022 Report
In 2017, global ton-mile demand to transport crude and residual fuels increased by 5.4 percent, supported by a 4.9 percent increase in VLCCs (which accounted for 62 percent of the total demand for dirty tankers), according to McQuilling Services’ 2018-2022 Tanker Market Outlook report. Suezmax demand meanwhile accounted for 24 percent of all DPP demand in 2017, 1 percent higher than 2016 due to higher crude exports from the Southern Europe and North Africa load region towards the Asian refinery complex.
Chemical Tankers Face Challenging Year: Stolt-Nielsen
Chemical tankers are sailing into another challenging year, according to the London based chemical carrier, tank container and terminals group Stolt-Nielsen's Chief Executive Officer, Niels G. Stolt-Nielsen. "Our outlook for the first half of 2018 remains essentially unchanged. We do not anticipate any substantial improvement in the chemical tanker market until 2019 when the orderbook reduces and the supply/demand balance improves," he said. Niels added: "For Stolthaven Terminals…
Navig8 Chemical Tankers Still in Red
Despite a shift in demand in the chemical shipping sector, Navig8 Chemical Tankers ended the fourth quarter ended 31st December, 2017 with a widened net loss of USD 3.7mln. Revenue for 4Q17 was $43.3 mill, compared to $33.9 mill for 4Q16. “The chemical tanker market began to show signs of improvement in the fourth quarter led by stronger demand in the chemical sector and tightening in the MR product tanker market,” said CEO Nicolas Busch. “With our fleet fully delivered, we are…
Ardmore Shipping Reports Net Loss of $12.5 Mln
Tanker owner Ardmore Shipping Corporation reported a net loss of $12.5 million for the twelve months ended December 31, 2017, or $0.37 basic and diluted loss per share, as compared to a net profit of $3.7 million, or $0.12 basic and diluted earnings per share, for the twelve months ended December 31, 2016. The company acquired the Ardmore Sealancer, a high-quality 47,500 Dwt MR product tanker constructed at Onomichi Dockyard Co. Ltd. in Japan in 2008. Ardmore took delivery of the vessel on January 23, 2018.
Yildirim Promoted to Marine Manager at APC
Advanced Polymer Coatings (APC), based here, has elevated Captain Onur Yildirim to the newly created position of Marine Manager. In his new role, Captain Yildirim will manage the company’s marine coatings operation globally including sales, technical, and after-sales service, working closely with APC senior management. Prior to this role, he held a number of positions at APC, most recently from 2012 to 2018 as Global Technical Manager, overseeing the global technical team including after-sales service.
First Ship Lease Trust Narrows Q4 Loss
First Ship Lease Trust, Singapore-based business trust which owns a fleet of vessels across major shipping sub-sectors, narrowed its fourth-quarter loss to US$33.87 million, down 19.9 per cent, despite lower revenue posted for the period. FSL Trust Management (FSLTM),, as trusteemanager of First Ship Lease Trust, said that the revenue for the three months ended Dec 31 was S$19.90 million, 14.2 per cent lower compared to a year ago as contributions from vessel charters fell.
Triyards Loses Shipbuilding Contract
Cash-strapped shipbuilder Triyards Holdings Limited has received a termination notice for a chemical tanker design and construction deal. The Singapore-based yard group said after Thursday trading hours that its subsidiary Saigon offshore Fabrication and Engineering has received notice of termination for the design and construction of a chemical tanker at a contract value of US$25.5 million. "Pursuant to the Notice, the Buyer will claim for the reimbursement of all sums paid by the Buyer in advance on account of the Contract in an amount of US$5.1 million," said a statement.
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.