Diesel VLCC Maran Aphrodite Changes Destination to New York
Diesel VLCC Maran Aphrodite changes destination to New York.* A 200,000 tonnes diesel cargo onboard the very large crude carrier (VLCC) Maran Aphrodite changed its destination on Friday to New York from the previous port of Rotterdam, according to Reuters ship tracking* The vessel, which traders said was chartered by Total, left Singapore earlier this monthReporting by Ron Bousso
DryShips Sells Two Older Panamaxes
DryShips announced that it has entered into agreements with unaffiliated buyers, for the sale of two of its older Panamax drybulk carriers, built in 2002. The diversified owner and operator of ocean going cargo vessels said that the sale took place for an aggregate gross sales price of $18.8 million. The vessels are scheduled for delivery to their buyers during the third quarter of 2018. The Company is a diversified owner and operator of ocean going cargo vessels that operate worldwide.
PDVSA Operations Impacted by Crude Spill
Shipping operations at one of three docks of Venezuela's main crude exporting port were halted after an oil spill occurred while loading a vessel bound for India, union and marine sources told Reuters on Tuesday. The spill, which happened over the weekend and whose size has not yet been disclosed, also affected other vessels close to the very large crude carrier (VLCC) Nave Quasar, chartered by India's Reliance Industries, the sources added. Venezuelan state oil company PDVSA, which operates the terminal, did not immediately respond to a request for comment. Reporting by Marianna Parraga
VLCC Tedorigawa Delivered to K Line
Japanese shipping major Kawasaki Kisen Kaisha (K Line) took delivery of its newest very large crude carrier (VLCC), Tedorigawa.The 311,000 dwt vessel was built at Nantong Cosco KHI Ship Engineering (NACKS), China and delivered on June 4, 2018.The Panama-flagged, 161,483 gross tons tanker has a length of 339.5 meters and a beam of 60 meters.According to K Line, Tedorigawa achieves low fuel consumption (about 20 percent reduction compared with conventional VLCC) by removing the bulbus bow, applying ultra-long stroke slow speed main diesel engine and highly efficient large diameter propeller.
DryShips Sails Back into Tanker Market with Two Modern Vessels
Greek owner of drybulk carriers DryShips Inc. has announced that it is re-entering the tanker shipping market as it agreed to purchase an Aframax tanker and a very large crude carrier (VLCC). - One 113,644 DWT Aframax tanker currently under construction in South Korea. The Company expects to take delivery of this vessel sometime in the second quarter of 2017. The vessel is expected to be employed in the spot market. - One 320,105 DWT Very Large Crude Carrier built in 2011. The Company expects to take delivery of this vessel sometime in the second quarter of 2017.
DHT Sells 18-year-old VLCC for $19.1 Mln
Crude oil tanker owner and operator DHT Holdings, Inc. said it has entered into agreement to sell the 1999-built very large crude carrier (VLCC) DHT Phoenix for $19.1 million. The 18-year-old tanker has just completed a “highly profitable” one year time charter at $45,000 per day to an Asian refining company, DHT said. DHT did not identify the new owner in its press release announcing the sale, but said the tanker will be delivered during the second quarter and is expected to retire from the trading fleet. The DHT Phoenix is debt free, and the entire net proceeds will be added to the company's cash balance. The company said it will record a book loss of about $3.5 million in the first quarter 2017 in connection with the sale.
DryShips Completes Common Stock Offering
DryShips Inc. has successfully completed the previously announced $200 million common stock offering, in which the Company raised net proceeds of $198 million, pursuant to the prospectus supplement filed on February 17, 2017. Following the completion of the offering, the Company has approximately 152,055,576 common shares outstanding. George Economou, Chairman and CEO commented: "We are very pleased to have successfully raised an additional $198 million of equity, which will increase our total available liquidity to about $455 million.
Euronav VLCC Aground near Indonesia
MT Alex, a very large crude carrier (VLCC) owned by Belgian tanker company Euronav Ship Management ran aground in Java Sea. The DWT 299,446 vessel, in laden condition, was sailing between Borneo and Sumatra on its way to Ningbo, China under load of crude oil, when she ran aground on a soft mud bottom. No injuries or pollution have been reported while the vessel remains safely aground, in good weather. No breach of hull, water ingress or mechanical failure are apparent in the assessment made by the crew, while the Class surveyor is expected to board as soon as possible. In a statement Euronav said that it has activated its emergency response plan and has notified all the relevant authorities; the emergency team is assessing the options for refloating the vessel.
Iraq Completes Basra Oil Jetty Repairs
Repair work at a Basra oil jetty damaged by a tanker collision last month were completed on Sunday, two officials at state-run South Oil Company told Reuters on Monday. Crude exports from the Basra terminal were not affected by the collision that happened on March 24, when strong winds caused a very large crude carrier (VLCC) to lurch into berth number 1. A one-million-barrel vessel, the Storviken, was anchored at that berth early on Monday, loading a cargo of light crude, said the two South Oil Co. officials. OPEC's second-largest producer, after Saudi Arabia, Iraq exports most of its crude from the southern Basra region, on the Gulf. The Basra terminal's loading capacity is estimated at around 1.8 million barrels per day (bpd). (Reporting by Aref Mohammed
32 VLCCs to Fly Saudi Arabia’s Flag
The National Shipping Company of Saudi Arabia (Bahri) said that the Public Transport Authority (PTA) has completed the registration of Amjad, a Very Large Crude Carrier (VLCC) owned and operated by Bahri, under the flag of Saudi Arabia. The announcement comes as part of Bahri’s plans to register all of its 37 VLCCs by the end of 2017, and falls in line with the remarkable shift and growth the transportation sector in the Kingdom has witnessed in the recent past. This also marks another achievement for PTA as an initiative completed as part of its national transformation program.
DryShips Adds Fifth Kamsarmax Drybulk Carrier
DryShips announced that it has taken delivery of the previously announced 81,300 deadweight tons newbuilding re-sale Kamsarmax drybulk carrier. The vessel will be employed in the spot market. Since the beginning of this year, DryShips has taken delivery of ten vessels and expects to take delivery of seven more by the end of the year. The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk vessels…
Dryships Time Charter Contract for Newcastlemax Vessels
DryShips Inc., a diversified owner of ocean going cargo vessels, announced that it has entered into a time charter with a major coal and steel trader for its fourth and last of its 206,000 dwt Newcastlemax drybulk vessels. The contract has a duration of about one year, with a gross rate linked to the Baltic Capesize Index (5 T/C route) plus 20% and will commence upon the delivery of the vessel, expected in July 2017. DryShips owns a fleet of (i) 13 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels…
Statoil Charters ULCC to Hold Crude for Asia buyers
Oil storage is feasible with low freight rates, capital costs; backwardation pushes traders to churn oil faster from storage. Norway's Statoil ASA has chartered the last remaining Ultra-Large Crude Carrier (ULCC), the world's largest oil tankers, to store oil off of Malaysia for distribution in smaller parcels to its clients in Asia, company executives said. Statoil has booked the TI Europe, capable of carrying up to 3 million barrels of oil, more than the daily consumption of South Korea…
Bahri Q2 Net Profit Soars
National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday. The company's net profit for the three months to June 30 was 504.18 million riyals ($134.44 million), up from 342.48 million riyals in the same period a year earlier, it said in a bourse statement. Alistithmar Capital forecast Bahri would make a net profit of 308.4 million riyals during the quarter. Bahri, one of five Saudi stocks not open to direct purchase by foreign investors, attributed the profit increase to a rise in operating revenues as a result of its enlarged very large crude carrier (VLCC) fleet, higher shipping rates in the spot market, and stronger performance in its general cargo division.
MSC Alexandra, VLCC Dream Collided in Singapore Strait
The Maritime and Port Authority of Singapore says it was notified just before midnight yesterday (Aug 4) of a collision involving Dream II VLCC (Very Large Crude Carrier) and MSC Alexandra (Container Ship) in the Singapore Strait, about 3 km South-East of Sebarok Island. Both are Panama-flagged vessels. Prior to the incident, MPA's Port Operations Control Centre provided traffic information and alerted the shipmasters of Dream II and MSC Alexandra of the risk of collision. Dream II sustained damage to her bow whilst MSC Alexandra sustained damages on her port quarter hull.
Update on MSC Alexandra, VLCC Dream Collision
During the incident involving Dream II Very Large Crude Carrier (VLCC) and MSC Alexandra (Container Ship) on 3rd August, 10 empty containers fell overboard. Of these, five fell overboard onto the deck of Dream II VLCC and another five fell into the sea. Four of the containers that sank in Singapore waters have all been recovered at 0930 hours on 6th August. The owner’s local Protection & Indemnity club representative of MSC Alexandra is making the necessary arrangement to retrieve the fifth container which sank in Indonesian waters.
DryShips Announces VLGC Time Charter
DryShips, a diversified owner of ocean going cargo vessels, announced that, on November 5, 2017, its third Very Large Gas Carrier commenced its time charter on a fixed rate with ten years firm duration to an oil major trading company. The Company expects a total gross backlog associated with this time charter of up to $103.8 million. DryShips owns a fleet of (i) 13 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels; (iii) 5 Kamsarmax drybulk vessels; (iv) 1 Very Large Crude Carrier…
K-Line Adds 311,000 DWT-Type VLCC “Kisogawa”
Japan’s shipping major Kawasaki Kisen Kaisha (K-Line) has expanded its fleet as it took delivery of the 311,000 dwt very large crude carrier (VLCC) Kisogawa on November 15. Kisogawa, which was constructed by China’s Nantong Cosco KHI Ship Engineering (NACKS), features a length of 339 meters and a beam of 60 meters. "The vessel achieves low fuel consumption (about 20% reduction compared with our conventional VLCC) by removing Bulbus Bow, applying ultra-long stroke slow speed main diesel engine and highly-efficient large diameter propeller," said a press release.
DryShips Adds Fourth VLGC
DryShips, a diversified owner of ocean going cargo vessels, announced today that it has taken delivery of its fourth high specification very large gas carrier (VLGC) newbuilding. The VLGC will be employed under a fixed rate time charter with ten years firm duration to an oil major trading company. The Company expects a total gross backlog associated with this time charter of up to $103.8 million. DryShips has now taken delivery of all of the 17 vessels it has acquired since the beginning of 2017.
MPA Tests Joint Oil Spill Response Procedure
The multi-agency joint oil spill exercise was conducted today as part of an on-going effort to ensure our ports remain safe, secure and clean for the international shipping community. Code-named JOSE 2016, the exercise was organised by the Maritime and Port Authority of Singapore (MPA) as part of the closing programme for the 19th Singapore International Bunkering Conference and Exhibition (SIBCON) 2016. Close to 80 delegates from SIBCON 2016 observed the oil and chemical spill exercise today.
Winson Oil buys VLCC for Med Storage
Buys VLCC to store gasoil in Mediterranean. Hong Kong-based trader Winson Oil has bought a very large crude carrier (VLCC) to store oil in the Mediterranean as it pushes to expand its business in Europe, two company sources said. The step could boost Asian gasoil margins if the firm enters the spot market to make large purchases to fill the vessel, traders said. Winson bought the VLCC in July for $28 million and has renamed it Winson No. 5, one of the sources said on Tuesday, declining to be identified as he was not authorised to speak with media. The ship is currently docked in Shenzhen, China for repairs and maintenance and will be moved in about 1 or 2 months, ready to receive oil products.
VLCC Brings India's First Iranian Oil Parcel for Emergency Reserves
India has received the first parcel of Iranian oil to partly fill its strategic storage in southern India, Mangalore Refinery and Petrochemicals Ltd , which imported the very large crude carrier (VLCC), said on its website. MRPL shipped in 2 million barrels of Iranian oil in the VLCC Dino. India will fill half of the storage with 6 million barrels of Iranian oil while continuing talks with United Arab Emirates and Saudi Arabia for the remainder. A second parcel to be procured by Bharat Petroleum Corp. is scheduled to arrive around Oct. 25, two sources with direct knowledge of the matter said. India, which is seeking to hedge against energy security risks as it imports about 80 percent of its oil needs…
Bahri Confirms Its Tanker Was Attacked near Yemen
Saudi Arabia's shipping group Bahri said on Thursday that one of its vessels, oil tanker Abqaiq, was targeted on April 3 in international waters south west of the port of Hodeidah in Yemen. "The VLCC (very large crude carrier) suffered only minor damage and there were no injuries to our crew aboard. The cargo was unaffected and there was no loss of containment. The crude carrier successfully resumed her northward journey across the Red Sea," Bahri said in a statement. Reporting by Marwa Rashad and Rania El Gamal