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Chemical Tankers News

04 Mar 2024

MOL Wraps Up Fairfield Chemical Carriers Acquisition

MOL Chemical Tankers-operated chemical tanker Ensemble (Credit: MOL)

Mitsui O.S.K. Lines (MOL) has, through its subsidiary MOL Chemical Tankers, completed the acquisition of Fairfield Chemical Carriers, creating one of the world’s largest multi-segregated chemical tanker fleets.The acquisition, valued at $400 million, is based on a share transfer agreement signed at the end of September 2023, which has been approved by the relevant authorities under competition law.The transaction is in line with MOL’s plan to proactively invest in chemical tanker business…

19 Feb 2024

NYK and Stolt Tankers to Build Six Multi-Purpose Chemical Tankers

© EdVal / Adobe Stock

NYK Stolt Tankers, a joint venture between NYK and Dutch company Stolt Tankers, has signed a contract with Nantong Xiangyu Shipyard in China to build six parcel chemical tankers.The contract will strengthen NYK’s chemical tanker business, for which demand is expected to grow steadily, and deepen the partnership with Stolt Tankers, a leading player in the industry, the company said.Parel tankers are multi-purpose chemical tankers can carry various cargo, including chemical products…

01 Feb 2024

NYK and Stolt Tankers Commemorate 30th Anniversary

From left, Yuji Nishijima, Executive Officer, NYK; Bjarke Nissen, Managing Director, Stolt Tankers; Masahito Hirano, Director, ENEOS Ocean Corporation (Source: NYK)

On January 17, the NYK Group and Stolt Tankers held a ceremony in Singapore to commemorate the 30th anniversary of the start of the companies’ parcel chemical tanker joint venture in Asia and the Pacific.A parcel tanker is a multipurpose chemical tanker capable of carrying many types of cargo, including chemical products, kinetic vegetable oil, etc.The ceremony was attended by Yuji Nishijima, executive officer of NYK; Bjarke Nissen, managing director of Stolt Tankers; and Masahito Hirano…

21 Nov 2023

Committed Owners Supporting Green Financing Landscape

Erlend Sommerfelt Hauge, Co-Founder and Managing Partner, oceanis

Hamburg-based ship finance platform oceanis’s Q4 State of Ship Finance Report comes with a thank-you to shipping companies that are committed to the green transition.Over the past decade, oceanis has seen large changes to the ship financing landscape towards greener projects. The most obvious green financiers are the Poseidon Principles banks, the initiative launched in 2019 whose signatories manage 70% of the world’s shipping loans. At the same time, many other banks and funds are moving away from financing ‘brown’ assets and trades.

17 Nov 2023

NYK Group, Stolt Tankers, and ENEOS Ocean Unveil Chemical Ship Pool Business

Credit: Stolt Tankers (File image)

The NYK Group, Stolt Tankers, and ENEOS Ocean launched a chemical ship pool business in the Asia-Pacific region in October.Shipowners and operators pool their vessels and undertake transportation services at the request of shippers. The pool business allows more flexible transportation services that utilize economies of scale, NYK said.The project started with 13 vessels, comprising two chemical tankers owned by ENEOS Ocean and 11 chemical tankers owned by a joint venture between…

16 Oct 2023

Tanker Hits Mine in Black Sea

A Liberian-flagged oil products tanker hit a mine on Sunday in the Black Sea off the coast of Romania and sustained minor damage, but the crew was safe, sources said on Monday.It is the second vessel this month to have been hit by a floating mine in the Black Sea, in a reminder of the continued perils faced by commercial ships in the region.The Ali Najafov tanker was sailing near to the Sulina channel near Romania when the blast occurred on Sunday, Yoruk Isik, head of the Bosphorus Observer consultancy, told Reuters.A Ukrainian source separately confirmed the vessel had struck a mine.The vessel's Istanbul-based manager Palmali, listed in shipping databases, did not immediately respond to a request for comment.

29 Sep 2023

Sustainable Shipping: Alma Clean Power, Odfjell, and DNV to Deploy Innovative Solid Oxide Fuel Cell on Chemical Tanker

Bernt Skeie (CEO, Alma Clean Power), Laurence Odfjell (Styreleder i Odfjell SE), Cristina Saenz de Santa Maria (Regional Manager DNV – Maritime, Sør-Øst Asia, Stillehavet & India), Eivind S. Homme, Norway’s ambassador to Singapore. - Image supplied

Alma Clean Power, Odfjell, and DNV have this week announced a new milestone in the development of a solid oxide fuel cell (SOFC) system.The fuel cell system will be installed on a chemical tanker by the end of 2024, aiming to demonstrate the potential for significantly lower fuel consumption and CO2 emissions for deep-sea shipping, the trio said at an event in Singapore."As the maritime industry faces major challenges adjusting to zero emissions over the next decades, fuel cells demonstrate a promising potential for scalable use for longer distances and larger energy needs in shipping.

26 Jul 2023

Wärtsilä Supplies Energy Saving Propulsion Devices to Vitol Tankers

Two vessels owned by global energy company Vitol had tailored Wärtsilä EnergoFlow and EnergoProFin systems installed during summer 2022 © Wärtsilä Corporation

Wärtsilä has delivered propulsion efficiency devices to two tankers owned by Vitol.The vessels, Elandra Sea and Elandra Star, managed by Latvian operator LSC Group, had tailored Wärtsilä EnergoFlow and EnergoProFin systems installed during summer 2022.EnergoFlow is a pre-swirl stator that creates an optimal inflow for the propeller, reducing fuel consumption and emissions in all operating conditions. The EnergoProFin is an energy saving propeller cap with fins that rotate together with the propeller.

05 Jul 2023

Cavotec Shore Power in First for European Tanker

Source: Cavotec

The Swedish port of Gävle recently became one of the first in the world to successfully connect a tanker vessel to a shoreside electricity system. The shore power connection solution was provided by Cavotec.The system, based on new standards drawn up in co-operation with other ports and operators, is set to pave the way for other tanker berth operators to reduce emissions, says Cavotec.The test sequence, during which no electrical current was supplied to the vessel, was conducted earlier this year with the Tern Fors…

13 Jun 2023

Uni-Tankers Reports Record Results

Source: Uni-Tankers

Danish family-owned company Uni-Tankers has achieved record financial results for the financial year 2022-23 which it attributes to being a “streamlined organisation ready to seize each opportunity.”Earning after tax were USD 61.0 million, an increase of USD 66.1 million from last year’s result despite constrained availability, higher cost of charter tonnage and higher interest rates.Uni-Tankers' fleet is one of the youngest in its core markets, comprising approximately 40 owned and chartered modern and flexible product and chemical tankers.

05 May 2023

HGK Shipping Holds Double Naming Ceremony for Chemical Tanker Duo

German company HGK Shipping on Thursday held a naming ceremony for two chemical tankers “Courage” and “Curiosity” on 4 May 2023.The chemical tankers have already been in service for the materials manufacturer, Covestro, on the river Rhine and its tributaries for several weeks. The hulls of the shallow-water vessels are 93 metres long and 10.5 meters wide. The two sister vessels are able to carry a load weighing 160 tonnes in a draught of just 1.00 meter and still be fully operational and maneuverable…

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…

30 Jun 2022

Stolt-Nielsen Says 2022 Q2 Profit Best Since 2007

Credit:Ianaré Sévi/Wikimedia Commons - CC BY-SA 3.0

Norwegian chemical tanker owner Stolt-Nielsen on Thursday reported a second-quarter net profit attributable to shareholders of $58.6 million, with revenue of $689.1 million. This is an increased compared with a net profit of $52.3 million, with revenue of $606.2 million, in the first quarter.Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited, said the second quarter net profit was the company’s highest since 2007."The second quarter continued where the first quarter ended with growing demand and a shrinking orderbook for new ships…

02 May 2022

Odfjell SE Names New CEO

Harald Fotland - Credit: Odfjell SE

Norwegian shipping firm Odfjell SE has appointed Harald Fotland as its new Chief Executive Officer (CEO). Fotland comes from the position as Odfjell's Chief Operating Officer, and will assume the CEO position on May 6, 2022."We are pleased to have an internal candidate take over the helm at Odfjell. The appointment was made after a process including external and internal candidates. Harald has excelled at leading innovative and transformative projects during his time at the Company.

25 Feb 2022

Swedish Tanker Firm Terntank Takes Delivery of 'Green' Tanker

©Terntank

Swedish tanker operator Terntank has said it has taken delivery of TERN FORS tanker.Designed by Terntank and Kongsberg Maritime CM AS, TERN FORS is the second of a series of two 15000 DWT chemical and product tankers, that combine LNG/LNG engine-powered engines, are 100% biofuel compatible, emit no greenhouse gases or carbon particulates during port operations and facilitate enhanced digital solutions for Just-in-Time management."We are thrilled to announce that TERN FORS has been delivered today from China Merchants Jinling Shipyard…

28 Jan 2022

Hyundai Mipo Delivers Methanol-Fueled Chem Tanker for NYK

The methanol-fueled chemical tanker Seymour Sun, owned by NYK Bulkship (Asia) Pte. Ltd., an NYK Group company based in Singapore, was delivered on January 27. The vessel was built at Hyundai Mipo Dockyard in Korea. Photo courtesy NYK

The methanol-fueled chemical tanker Seymour Sun, owned by NYK Bulkship (Asia) Pte. Ltd., an NYK Group company based in Singapore, was delivered on January 27. The vessel was built at Hyundai Mipo Dockyard in Korea.Seymour Sun has been equipped with a dual-fuel engine that can use both heavy fuel oil and also methanol. In addition, when navigating using methanol as fuel, the vessel has a new technology that suppresses the production of NOx (nitrogen oxides) by adding water to methanol to lower its temperature during combustion.

26 Jan 2022

Stolt-Nielsen CEO to Step Down after More Than Two Decades in Position

Niels G. Stolt-Nielsen has decided to step down from his role as Chief Executive Officer of chemical tanker operator Stolt-Nielsen Limited. Photo courtesy Stolt-Nielsen

Niels G. Stolt-Nielsen has decided to step down from his role as Chief Executive Officer of chemical tanker operator Stolt-Nielsen Limited.The company said Wednesday he'd continue as CEO and as a Director on the Board until the appointment process for a successor has been completed. Niels G. Stolt-Nielsen has served as Chief Executive Officer of Stolt-Nielsen Limited since November 2000 and has been a Director since 1996."The intention is that once a suitable replacement is found, Mr. Niels G.

20 May 2021

Essberger Orders Four Ice-class Chemical Tankers from China Merchants

(Image: John T. Essberger Group)

The John T. Essberger Group said it has signed final agreements with China Merchants Jinling Shipyard Dingheng Co. Ltd to build four 6,600 DWT stainless steel parcel chemical tankers with options for an additional four vessels.The IMO Type II chemical tankers will be Finnish/Swedish 1A ice class certified with dual-fuel liquefied natural gas (LNG) propulsion and the ability of using shore power connection during cargo operations. According to Essberger, the ships' optimized hull…

01 Mar 2021

Ardmore to Manage Four Carl Büttner Chemical Tankers

(Photo: Ardmore Shipping)

Cooperation strengthens chemical platform; underpins strategy to operate more sustainable, non-fossil fuel cargoes  Ardmore Shipping Corporation announced a new partnership with Carl Büttner, taking on the commercial management of four chemical tankers on behalf of the Bremen-based shipowner.The vessels Aurelia, Avalon, Apollo and Admiral are 24,000 deadweight tonne (DWT) chemical tankers, and will operate alongside Ardmore’s own chemical tanker fleet. This move signals a doubling of the number of similar sized chemical tankers under Ardmore’s management.Gernot Ruppelt…

31 Aug 2020

Stolt-Nielsen to Buy Five Chemical Tankers from CTG

Stolt-Nielsen has via Stolt Tankers B.V. agreed to buy five chemical tankers from Chemical Transportation Group (CTG) for trading in the Stolt Tankers Joint Service, in a move to modernize its fleet.The five ships, which are 26,000 dwt and with stainless steel cargo sections, were built in China in 2016 and 2017. The purchase of each ship isexpected to close between December 2020 and February 2021. Further terms of the transaction were not disclosed.Stolt Tankers President, Lucas Vos, said: "This acquisition is an excellent opportunity for Stolt Tankers to replace ships being retired in the next few years, lowering our fleet age profile with competitively priced ships that can trade in any of our deep-sea lanes.

12 May 2021

U.S. Refiners Book Tankers to Store Oil Products as Cyber Attack Cripples Colonial Pipeline

Illustration by Oleksii/AdobeStock

U.S. refiners booked at least four tankers to store refined oil products off the Gulf Coast following a cyber attacks that crippled the biggest U.S. pipeline, shipping data showed on Tuesday.The attack on the Colonial pipeline network, which supplies half of the fuel consumed along the East Coast, has forced Gulf Coast refineries to scale back operations due to lack of storage space.The tankers, booked by Marathon Petroleum, Valero Energy, Phillips 66 and PBF Energy, can hold around 350,000 tonnes of fuel.

01 Dec 2020

NYK Inks Charter Deal for Pair of Methanol-fueled Chem Tankers

NYK Bulkship (Asia) Pte. Ltd., an NYK Group company based in Singapore, signed a long-term time charter contract with Waterfront Shipping Company Limited (WFS) for two newly built chemical carriers, each equipped with a dual-fuel engine that enables the vessels to be powered not only by marine fuel oil but also methanol.Planned for delivery from the Hyundai Mipo Dockyard (Korea) in 2022, the vessels will be delivered to WFS, a wholly owned subsidiary of Methanex Corporation, the world’s largest producer and supplier of methanol.

15 Mar 2021

Bahri Chemicals Expands Fleet, adds Nine Chem Tankers on Charter

Bahri CEO Eng Abdullah Aldubaikhi

Bahri business unit will cement its position as world’s largest operator of chemical tankers in IMO2 MR class with 31 vesselsBahri said that its business unit Bahri Chemicals has concluded a long-term time charter agreement with Dubai-headquartered international shipping company United Arab Chemical Carriers Limited (UACC). As part of the deal, nine UACC IMO2 MR (medium range) chemical tankers will join Bahri Chemicals’ fleet from April 2021 onward, bringing the total number of vessels of the same class that it operates to 31.Eng.