Navig8 Product 2020 Adds New MR Tanker
Shipping company Navig8 Product 2020 has taken delivery of a new scrubber-fitted MR tanker, the Navig8 Gauntlet.The international shipping company focused on the transportation of Clean Petroleum Products (CPP) said that the 49,000 dwt vessel was delivered from Japan’s New Times Shipbuilding and is the sixth unit in a series of eight such scrubber-fitted tankers in the company’s newbuilding program.The Navig8 Guantlet will be entered into and operated in Navig8 Group’s Chronos8 commercial pool, it said.Last month, the company took delivery of the Navig8 Goal.
Chemical Tanker Market to Recover
The recovery of the chemical tanker market continued into the second quarter as main drivers were strong US exports and healthy volume development throughout the quarter on main trades, said Odfjell SE.The Clean Petroleum Products (CPP) market weakened which led to a net increase of 20 coated MR's trading chemical/veg-oils during the quarter, hereby increasing supply pressure for chemical tankers towards the end of the quarter, said the company specializing in worldwide seaborne…
Workboat Report: The U.S. Workboat ($33.8B) Market
The U.S. towing and tug business is 5,500 boats, more than 31,000 barges with an estimated total impact on U.S. GDP of $33.8 billion.“At a macro level, the bigger ships are causing downward pressure on the ship assist business because there are fewer ship calls given the increased capacity of these vessels. However, certain ports have seen tremendous growth, based on strategic location and infrastructure investments that have attracted these larger ships and been a net plus for these areas.”Kate Fuhrman…
TORM Adds Four MR Tankers
Danish shipping operator TORM has reached an agreement to acquire four modern 2011-built MR vessels “at an attractive price point”."Looking into an improving demand-supply situation for the transportation of clean petroleum products, we believe that the timing for a fleet expansion with modern vessels is appropriate and underlines the flexibility provided by our strong capital structure," says Executive Director Jacob Meldgaard.A press release from the carrier of refined oil products…
Klaveness Signs COA for CLEANBUs
Norwegian shipping company Klaveness Combination Carriers (KCC) has signed a Contract of Affreightment (COA) with a Australian importer and distributor of clean petroleum products (CPP) for its new generation of combination carriers, the CLEANBUs.The COA, which was signed by a Klaveness subsidiary, covers multiple cargoes over a period of up to 12 months with commencement within 2nd quarter 2019, said a press release from the newly formed KCC, which is 63% owned by Klaveness…
Bouchard Takes Delivery of Yet another ATB Unit
Bouchard Transportation Co. announced the delivery of ATB unit M/V Evening Breeze and Barge No. 252 (B. No. 252), respectively, from VT Halter Marine Inc. (VT Halter Marine) and Bollinger Shipyards.M/V Evening Breeze left VT Halter Marine’s Pascagoula Shipyard facility on Tuesday, March 12, 2019, and will meet and pair up with B. No. 252 before sailing to join Bouchard’s fleet service in New York.The Evening Breeze is 4,000hp meeting U.S. EPA-Tier 4 requirements, measuring 112 feet by 35 feet by 17 feet, and equipped with an Intercon Coupler System.
Stena Bulk Forms Chemical Tanker JV with Bay Crest Management
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.
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.
Crowley Orders ATB at Bollinger
Crowley Fuels LLC has signed a contract with Bollinger Shipyards for the construction of a new 100,000-barrel-capacity articulated tug-barge (ATB) to transport multiple clean petroleum products in the Alaska market. The Alaska-class vessel will be built at Bollinger Marine Fabricators Shipyard, in Amelia, La., with an expected delivery in the fourth quarter of 2019. The build contract includes an option for a second ATB. Once built and deployed, Crowley will operate the ATB under a long-term charter with Alaska-based Petro Star Inc.…
Contanda Secures Prime Waterfront Acreage on the Houston Ship Channel
Contanda Terminals LLC, a provider of bulk liquid storage and logistics services in North America, has announced a multi-year commercial agreement with the Port of Houston Authority for 339 acres of prime deep-water access property located on the Houston Ship Channel. The land acquisition enables Contanda to continue to develop its key strategic business objective of doubling its terminal storage capability over the next five years, and expanding into the bulk petrochemical and hydrocarbon markets. This will further strengthen the company’s presence along the U.S.
Vopak Expands Pengerang Terminal
Royal Vopak and its joint venture partners intend to expand their independent storage terminal, Pengerang Independent Terminals Sdn Bhd (PITSB) in Pengerang, Johor in southern Malaysia. PITSB will be expanded with 430,000 cbm to a total capacity of 1.7 million cubic meters.The expansion which is subject to final formalities, is expected to be commissioned progressively from Q1 2019. PITSB provides storage, blending and distribution services for crude oil and clean petroleum products. The expansion relates to the storage of clean petroleum products.
Demand for Chemical Tanker Fleet Looks Up
Demand for methanol and vegoil will moderately support global seaborne trade causing the shipping fleet trading in chemicals and vegoils to expand, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. A press release from Drewry said that the orderbook contains 144 stainless steel vessels totalling 3.4 mdwt for delivery by 2020, almost 22% of the existing capacity for such vessels; 63 of these vessels are in the size range of 25…
GAC, Valero Ink Terminal & Marine Services Deal
GAC UK has signed a three-year terminal and marine services deal with Valero Logistics UK Ltd. Under the agreement, from 1 February 2017, GAC UK will manage and support the discharge of 12-14MT of clean petroleum products each from up to 180 tankers a year at the ports of Cardiff and Plymouth. On 1 April, its raft of jetty operation services for the energy giant will be extended to include Avonmouth. GAC UK will provide a range of terminal services including secure and safe manning of berths, ship/shore safety checks and connecting shore cargo lines to vessels’ manifolds.
Tanker Charter Rates Under Pressure
Time charter rates in the smaller chemical tanker vessel sizes are expected to remain stable over the next two years, but rates for the larger sizes, especially MRs, will decline due to the impact of falling clean petroleum products (CPP) freight rates, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. Weakened chemical tanker freight rates in the second quarter of 2016 have resulted in softer time charter rates. Drewry anticipates a modest improvement in the CPP market in the next two quarters…
New Tank Barge Delivered to Harley Marine
The newly built tank barge, the Fight A.L.S., was delivered to Harley Marine Services on February 19, 2016. Designed by Elliott Bay Design Group (EBDG) and constructed at Vigor Fab in Portland, Ore., the 83,000 bbl tank barge joins Harley’s offshore fleet working the Gulf and East Coast to transport clean petroleum products, specifically gasoline and distillates. Fight A.L.S. is the third 83,000 bbl ATB tank barge recently designed by EBDG and built for Harley Marine Services, along with sister barges Dr. Robert J. Beall and Fight Fanoni Anemia.
AET Buys Paramount Tankers
American Eagle Tankers (AET), a subsidiary of Malaysian shipping line MISC Bhd, said that it will acquire all the remaining shares of Paramount Tankers, making the latter its wholly owned subsidiary. AET will acquire Golden Energy Tanker Holdings’ 50% stake in Paramount Tankers, a joint venture between the two companies that owns and operates six aframax vessels. AET did not disclose the value of the deal, which is expected to be completed by September this year. AET President & CEO…
MISC, AET Fleets Merger
International energy logistics group MISC Berhad announced that it is to merge its chemical fleet with the clean petroleum products (CPP) fleet operated by its wholly owned petroleum subsidiary, AET. Under the new arrangement, AET will take over the 13 chemical vessels and one LPG tanker currently owned/operated by MISC and combine them with its own fleet of eight CPPs to create a new, single entity. Announcing the move, MISC President/Group CEO, Yee Yang Chien, said, “There are significant synergies to be gained from merging the two fleets and creating a consolidated products business.
McQuilling Releases 2016-20 Tanker Outlook
McQuilling Services has announced the release of the 2016-2020 Tanker Market Outlook. This report is a five-year outlook for eight vessel classes across 18 benchmark trades and represents the company’s 19th forecasting cycle. After over 10 years of tanker rate forecasting, McQuilling Services is a leader in the industry and continues to support a variety of stakeholders in the energy, maritime and financial services industries with its annual Tanker Market Outlook. Our full-year 2015 projection from last year’s Tanker Market Outlook tracked within 5% of actual market levels on the 15 trades forecasted. For the nine DPP trades, the original forecasts ended the year within 3% of recorded levels, while the six CPP trades ended within 7%.
New Tank Coating from Hempel
Marine paints manufacturer Hempel announced the launch of a new pure epoxy tank coating, Hempadur 15460, to replace its Hempadur 15400 tank coating. Hempadur 15460 is designed specifically as a tank coating for chemical vessels and is based on amine adduct cured epoxy technology, which the manufacturer says delivers resistance to continuous immersion in a range of chemicals, including crude oil up to temperatures of 80ºC/176ºF. The coating uses no toxic products and can be used to coat all liquid cargo tanks. It is also suitable for grey and black water tanks, mud and brine tanks, refrigerated seawater fish tanks and other vessel tanks.
Changes in Asian Refining Bodes Well for Product Tankers: Poten and Partners
Refining capacity in Asia has been growing rapidly for many years. Not surprisingly, the vast majority of this growth took place in China, which more than doubled its refining capacity over the last 10 years. The other significant growth engine in Asia has been India. However, the impact of these two refining powerhouses on the product tanker market has (so far) been very different. While a significant portion of India’s new refining output has been exported into world markets…
Crowley Christens LNG-Ready Product Tanker
Crowley Maritime Corp. today christened the first of four new Jones Act product tankers at the Tampa Cruise Terminal. The 50,000 dead-weight-tons (dwt), 330,000-barrel-capacity ship Ohio is the first tanker ever to receive the American Bureau of Shipping’s (ABS) LNG-Ready Level 1 approval, meaning Crowley has the option to convert the tanker to liquefied natural gas (LNG) propulsion in the future. More than 100 guests watched as Pamela Beall, president of MPLX, a Marathon Petroleum Corporation subsidiary, broke a ceremonial bottle of champagne across the hull to christen the vessel.
ABS Deems Crowley Product Tankers 'LNG-Ready'
By achieving compliance with the ABS Guide for LNG Fuel Ready Vessels, Crowley has the option to convert the product tankers to LNG propulsion at a later date having already been granted a conceptual review. “ABS has played a fundamental role in supporting the ambitions of the maritime industry as it moves to embrace the opportunity of LNG as fuel,” said ABS Chairman, President and CEO Christopher J. Wiernicki. According to ABS, who published the Guide for LNG Fuel Ready Vessels in 2014…
Shipping Confidence at Highest Level Since 2008
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. Freight rates look set to improve or maintain existing levels over the next twelve months, while an increase in private equity funding is expected to have a major impact on the industry. In February 2014, the average confidence…