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Dwt Crude Oil Tanker News

13 May 2022

Samsung Delivers Suezmax Newbuild to NAT

Tanker shipping company Nordic American Tankers on Friday took delivery of a suezmax newbuild from shipbuilder Samsung Heavy Industries in South Korea.The 157,000-dwt crude oil tanker is named Nordic Harrier, which was the first NAT ship when becoming stocklisted on the New York Stock Exchange in 1995.The ship, which is on a 10-year bareboat charter to NAT from Norwegian shipowner Ocean Yield, will commence a contract for six years to ASYAD Shipping Company of the Sultanate of Oman. "The contract is producing earnings and cashflow as from delivery from the yard, creating financial stability and a further foothold in this important area," New York-listed NAT said in a letter to investors and shareholders.

29 Mar 2022

COSCO Launches Aframax Green Adventure for Aegean Shipping

(Photo: Aegean Shipping)

A newbuild aframax tanker Green Adventure was launched for Aegean Shipping at the Cosco Yangzhou shipyard in China's Jiangdu District on Monday. The 112,500 DWT crude oil tanker is scheduled to be delivered later this year.The vessel is one of four currently being built for the Greek shipping company at Cosco Yangzhou. Aegean ordered the first two ships in September 2020 and exercised an option for the third and fourth in December of the same year. Aegean has ordered 12 consecutive vessels from COSCO Group yards over the last five years.The series' first ship…

19 Nov 2020

Sale of 25-year-old VLCC Ends 512-day Demolition Draught

The sale of Sam (formerly Zoya 1), an almost 25-year-old 300,500 DWT crude oil tanker, marks the end of the fourth longest streak of zero VLCC demolitions in history, this time lasting 512 days. The last very large crude carrier (VLCC) to be demolished was the 300,361 DWT Watban which was scrapped in Bangladesh in June 2019.In January this year, a fire erupted on board the Zoya 1 while undergoing maintenance. As a result of the fire, several crew members died, and more were injured. Previously, the ship had spent several years at anchorage as floating storage in United Arab Emirates waters.Since the last VLCC was demolished, 42 have been delivered…

25 Feb 2020

FSL Trust Sells Crude Tanker FSL Shanghai

FSL Trust Management Pte., the trustee-manager of First Ship Lease Trust, has announced the sale of the crude oil tanker FSL Shanghai.FSL Trust Management has executed a Memorandum of Agreement (MoA) to sell the crude oil tanker to an unaffiliated third party and has received the initial 10% deposit in escrow.FSL Shanghai, is a South Korean, 2007-built 115,000 DWT crude oil tanker.Completion of the disposal is scheduled to take place before the end of March 2020. The net proceeds of the disposal will be utilized for partial repayment of the Trust’s outstanding bank debt and the remaining funds will be kept for general corporate purposes.

20 Feb 2019

Valles Orders New Tanker from SHI

The Hong Kong and Vancouver-based shipowner Valles Steamship has ordered a new 112,000 dwt crude oil tanker from South Korea’s Sumitomo Heavy Industries Marine & Engineering (SHIME).Ship set to be fitted with a scrubber and will enter the market before the end of 2020, said a release from Valles, which was founded by C.S. Koo in Shanghai as a family business in 1917."We take great pleasure in concluding a newbuilding contract with the esteemed yard and the we look forward to further strengthening their relationship with SHIME," said the statement.The newbuild Aframax will join seven other Aframaxes in Valles Steamship’s fleet. Other ships operated by the company include Panamax bulkers and medium and long range product tankers.

22 Oct 2018

Gagarin Prospect Performs Ship-to-Ship LNG Bunkering

The large-capacity Aframax tanker "Gagarin Prospect", owned by Russia's SCF Group,  successfully implementated  construction and operation commencement  using LNG as the primary fuel.Konstantin G. Palnikov, Director General of Russian Maritime Register of Shipping, participated in a protocol event dedicated to this project.This pioneered the expansion of LNG fuel into the global shipping industry, for large-capacity ships not tied to fixed routes or set timetables.The specialized LNG bunkering ship Cardissa, a unit of Royal Dutch Shell, successfully performed its first ship-to-ship LNG bunkering to take place at the port of Rotterdam two weeks ago.On 15 October, in the port of Primorsk "Gagarin Prospect" carried out the first loading taking on board 104,815 tons of crude oil.

02 Apr 2018

New Times Shipbuilding Launches Two Aframax for Frontline

On April 2, No.13 and No.14 111,000 DWT Oil Tankers launched successively from NTS drydock, both of which are built for Frontline. New Times Shipbuilding's CEO Liu Haijin and the representatives from the owner and ABS attended the launching ceremony, the company said in its press release. It has updated about the other deliveries in this year. On January 26, 2018, the closing ceremony for No.26 157,500 DWT Crude Oil Tanker was held in Shanghai. "Our Executive General Manger  Zhang Yuyong and representatives from Owner Dong-A Tanker attended this ceremony. The delivery documents for this ship were successfully signed by both parties," said another press release.

01 Apr 2015

FSL Trust Signs Charter Agreement with US Oil Company

  Alan Hatton, CEO of FSL Trust Management (photo courtesy of FSL Trust Management)

FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust, has entered into a two-year time charter agreement with a prominent US domestic oil company for the FSL Hong Kong, a 115,000 dwt crude oil tanker built in 2007. The new employment is anticipated to generate approximately $16.8 million in revenue over the next 24 months, the company said. This represents an increase of 47% on the time charter rate at which the FSL Shanghai was contracted for one year in June 2014. The increased rate reflects recent improvements in the crude oil tanker charter market.

24 Dec 2014

Aker: 4 Tankers Now Underway at Phila. Shipyard

Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), celebrated two significant ship milestones this week. Today, the shipyard held a ceremonial Keel Laying for the second of four product tankers that it is building for its joint venture with Crowley. Early in the day yesterday, construction began on its fourth product tanker in the same series. At the Keel Laying ceremony, coins were placed on one of the keel blocks before the 580 ton unit, which will be part engine room of the completed ship, was lowered into place in the dry dock. This tradition dates back to early shipbuilding and signifies good fortune and safe travels.

31 May 2012

Vietnam Shipyard Sea Trials 104,000 dwt Tankship

Photo credit Dung Quat Shipyard

Vietnam National Oil & Gas Group's Dung Quat Shipbuilding successfully carried out sea trials of a large crude oil carrier Following completion of the construction, Dung Quat Shipyard (DQS) in the presence of the owners, Petrovietnam Transportation Corporation (PVTrans) & classification society ABS, performed sea trials of a 104,000 DWT Crude Oil Tanker named PVT MERCURY.

28 May 2009

BW Fleet Management Repair Deal at ASRY

Tanker operator, BW Fleet Management, expanded its Fleet Repair Agreement with ASRY’s Bahrain yard. The new repair agreement was signed by Morten Steen Martinsen, managing director of BW Fleet Management and Chris Potter, CEO of ASRY, in April in Bahrain. The Norwegian company, which operates out of both Oslo and Singapore, manages a fleet of more than 90 vessels operated by BW Gas and BW Maritime, and the ASRY repair agreement involves those crude oil tankers, product tankers and LPG carriers that trade to the Arabian Gulf, giving guaranteed dock space and fixed rates.

29 Oct 2004

Bids Out for Marathon Oil Tanker Conversion

Tenders are currently being sought for the conversion of the Norwegian owned 2001-built, 91,676 dwt crude oil tanker Odin into an FPSO for operation in Marathon Oil’s Alvheim oil field development project in the North Sea. Marathon Oil expects to announce the shipyard that will convert the vessel in the early part of next year. Conversion of the Aframax tanker will result in an FPSO with an oil storage capacity of 560,000 barrels. The Alvheim field is expected to begin operations in 2007.