Large Crude Carrier News

24 Feb 2021

Hunter Group Sells VLCC Hunter Alta

© Krystyan Benne Aranzado /

Norwegian shipowner Hunter Group said its Hunter Tankers subsidiary has signed a memorandum of agreement to sell its 2019-built very large crude carrier (VLCC) Hunter Atla to a Eurasian buyer for $84.5 million.The vessel is expected to be delivered to its new owner in March, leaving Hunter with a fleet of four VLCCs.The company announced the sales of Hunter Laga and Hunter Saga in the second half of last year.

23 Feb 2021

Euronav Sells and Leases Back VLCC Newton

File Photo: Euronav

Belgian tanker operator Euronav said Tuesday it had entered into a sale and leaseback agreement for the very large crude carrier Newton with China's Taiping & Sinopec Financial Leasing Ltd Co. The VLCC was sold for $36 million."The transaction produced a capital gain of about $2.4 million. After repayment of the existing debt, the transaction generated $19 million free cash," Euronav said.The company has now leased back the 2009-built, 307,284 DWT VLCC under a 36-month bareboat contract at an average rate of $22,500 per day.

10 Feb 2021

Cummins QSK95s: Big Electric Power for Conversion of Ariake to FPSO

Oil Tanker, ARIAKE ready for Conversion. (Photo courtesy Cummins/Haig-Brown)

Floating Production Storage and Offloading (FPSO) vessels are essential tools in the search for oil  in deeper waters, further from shore-based facilities. Typically, the large FPSO is stationary with a number of wells feeding oil into its holds. The oil can then be pumped off to shuttle tankers that transport it to shore side tanks and refineries.FPSOs are big expensive pieces of equipment. Some of them are converted from ocean going oil tankers. Such is the case with the 333 by 60-meter, very large crude carrier, VLCC Ariake, which was purchased for conversion to an FPSO.

25 Jan 2021

Iran Asks Indonesia to Explain Tanker Seizures

© Mick Prendergast /

Iran has asked Indonesia to provide details about the seizure of an Iranian-flagged vessel, Iranian Foreign Ministry spokesman Saeed Khatibzadeh said on Monday, a day after Jakarta said it had seized Iran and Panama-flagged tankers in its waters.Indonesia said on Sunday its coast guard had seized the Iranian-flagged MT Horse and the Panamanian-flagged MT Freya vessels over suspected illegal oil transfer in the country’s waters.Khatibzadeh said that the seizure was over a “a technical…

25 Jan 2021

Indonesia Seizes Iran, Panama-flagged Vessels Citing Illegal Oil Transfer

Iranian-flagged MT Horse (formerly known as Honar) - Credit: Mick Prendergast

Indonesia said its coast guard seized the Iranian-flagged MT Horse and the Panamanian-flagged MT Freya vessels over suspected illegal oil transfer in the country's waters on Sunday.Coast guard spokesman Wisnu Pramandita said the tankers, seized in waters off Kalimantan province, will be escorted to Batam island in Riau Island Province for further investigation."The tankers, first detected at 5:30 a.m. local time (2130 GMT on Jan. 23) concealed their identity by not showing their national flags…

20 Jan 2021

ABS Grants AIP for DSME’s Solid Oxide Fuel Cell Technology

Classification society ABS informs it has granted approval in principle (AIP) to solid oxide fuel cell (SOFC) technology developed by South Korea's Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME).Granting of AIP follows two joint development projects between ABS and DSME, the latest to develop SOFC technology to replace at least one of three diesel generators typically on board a very large crude carrier (VLCC).ABS said it is now working with DSME on future research…

18 Dec 2020

HHI and DNV GL Developing Green Tanker Designs

Gagarin Prospect, the world’s first Aframax tanker designed to run on LNG, is one of 40 dual-fueled ships already delivered or under construction at HHI Group. The DNV GL classed vessel is owned by Russian ship operator Sovcomflot. (Photo: HHI Group)

Classification society DNV GL said it has teamed up with shipbuilder HHI Group to develop the next generation of environmentally friendly, "future-proof" tanker designs.In a recent "Green Tankers towards 2050" industry webinar, DNV GL and HHI Group presented the results of new joint research and explained how eco-friendly maritime solutions can help shipowners and managers to cope with stricter environmental regulations now and in the future.The joint research was initiated by a memorandum of understanding (MOU) signed in 2019…

14 Dec 2020

Iran Uses Disguised Tanker to Export Venezuelan Oil

© Radek Pachecki /

A tanker chartered by the National Iranian Oil Company (NIOC) is loading Venezuelan crude for export, documents from state-run PDVSA show, providing evidence of the two countries’ latest tactics to expand their trade in defiance of U.S. sanctions.Venezuela and Iran have deepened their cooperation this year as Venezuela has exchanged gold and other commodities for Iranian food, condensate and fuel.Names of scrapped vessels are being used by several PDVSA (Petroleos de Venezuela…

26 Nov 2020

ABS, DSME Working to Replace VLCC Diesel Generators with Solid Oxide Fuel Cells

Credit: Riekelt/AdobeStock

Maritime classification society American Bureau of Shipping (ABS) and South Korea's shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) have signed a joint development project to use Solid Oxide Fuel Cell (SOFC) technology to replace at least one of three diesel generators typically onboard a Very Large Crude Carrier (VLCC)."It’s the second SOFC-focused JDP between ABS and DSME, with the first collaboration in 2019 revealing the high efficiency of a SOFC and gas turbine hybrid system due to the re-use of hot exhaust off-gas…

19 Nov 2020

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

© Bernd Rohr /

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.

13 Oct 2020

ADS Crude Carriers Sells Another VLCC

Credit: ADS Crude Carriers

Oslo-listed ADS Crude Carriers has signed a memorandum of agreement to sell the Very Large Crude Carrier ADS Serenade.ADS said Tuesday the vessel would be sold for $25.5 million. The company did not say who the buyer was."The vessel is expected to be delivered to the new owners before the end of October," ADS Crude Carriers said.The ADS Serenade is one of three Japan-built sister VLCCs delivered to the company in 2018. It was built in 2002 by Hitachi Zosen Corporation.The 329…

12 Oct 2020

Iranian VLCC Leaves Venezuela Loaded with Crude

The Horse VLCC under the previous name - Credit: Mick Prendergast/

An Iranian-flagged oil tanker left Venezuela on Friday for Iran's Kharg Island, Refinitiv Eikon data showed, after the vessel loaded 1.9 million barrels of heavy crude at the South American country's Jose oil terminal.The shipment marks the latest example of cooperation between the two OPEC nations this year as they step up commercial ties to try to rescue their respective oil industries, both of which are under intense pressure from U.S. sanctions.The very-large crude carrier (VLCC)…

28 Sep 2020

Tankers Carrying Iranian Fuel Enter Venezuelan Waters

© Seongwoo Seo /

The first of a group of three tankers carrying Iranian fuel for gasoline-starved Venezuela entered the waters of the South American nation on Monday, according to Refinitiv Eikon data, in the most recent sign of the countries' expanding trade.The two OPEC members have increased cooperation this year by exchanging crude, fuel, food, equipment for refineries and other industrial goods. Many details about the transactions are not available, however.The Iran-flagged tanker Forest…

24 Sep 2020

Owner of Fire-hit Tanker to Pay $1.8 Mln for Sri Lanka's Help

(Photo: Sri Lanka Air Force)

The owners the New Diamond supertanker which caught fire with a cargo of two million barrels of oil aboard has agreed to pay 340 million rupees ($1.84 million) to Sri Lanka for its help in extinguishing the blaze and averting disaster.The interim claim is for services provided by the Sri Lankan navy, air force, ports authority and Marine Environment Protection Authority (MEPA) after the fire on Sept. 3 until Sept 15, said Nishara Jayaratne, coordination officer of Sri Lanka's Attorney General.Insurers of the vessel West of England will settle the bill…

16 Sep 2020

Sri Lanka Seeks at Least $1.9 Million from Owner of Fire-hit Tanker

(Photo: Sri Lanka Navy)

Sri Lanka is seeking at least 340 million rupees ($1.9 million) from the owner of the stricken oil supertanker New Diamond for assistance given to the vessel since it caught fire on Sept. 3, the coordinating officer to the country's attorney general said.Nishara Jayaratne said the cost was for services provided by various departments including the Sri Lankan navy, air force, ports authority and Marine Environment Protection Authority, among others, up until Sept. 15.The fully-loaded vessel is still in Sri Lankan waters…

11 Sep 2020

Sri Lanka Working to Stop Fuel Leak from Fire-hit Oil Tanker

Credit: Sri Lanka Navy

A salvage team is still trying to plug a fuel leak from the fire-stricken New Diamond oil supertanker, Sri Lankan Navy spokesman Indika de Silva said on Friday.The tanker, which is carrying the about 2 million barrels of oil, caught fire on Sept. 3 and is currently 45 nautical miles (83 km), off Sri Lanka's east coast.The fire has been extinguished but the New Diamond has left two long trails of fuel oil after the Navy towed it out to sea.Authorities want to avoid damage to the…

10 Sep 2020

BP Charters Supertanker to Store Oil Off Malaysia at "Lowest Rate Yet"

Image by Singh Abhishek -

Oil major BP has provisionally chartered a supertanker to store crude oil off Malaysia at this year's lowest rate yet, according to industry sources and data on Refinitiv Eikon.The charter is the latest in a flurry of ship bookings made by oil majors and trading houses after tanker rates plunged. A resurgence in coronavirus cases, poor weather and the end of the northern hemisphere's summer driving season have slowed global oil trade and shipping demand.BP chartered very large crude carrier (VLCC) Gene at $20…

09 Sep 2020

Sri Lanka Pursues Legal Action Against Tanker's Owner After Fire

(Credit: Sri Lanka Navy)

Sri Lanka will take legal action against the owner of the oil supertanker that caught fire on Thursday as there is a large leakage of bunker oil from the stricken vessel, an official at the Marine Environment Protection Authority said.“We are deciding whether to claim criminal liability or civil liability or both,” Jagath Gunesekara, Deputy General Manager of the Authority said. He said action will be filed under Sri Lankan laws protecting the marine ecosystem.Greece-based Porto…

08 Sep 2020

Sri Lanka Has "Better Control" Over Fresh Fire on Supertanker, Navy Says

Credit: Sri Lanka Navy

Sri Lanka has "better control" over a fresh fire on a loaded supertanker off the island nation and is looking for any signs of potential oil leaks from the ship. A fire first broke out last Thursday in the engine room of the very large crude carrier New Diamond and spread to the bridge of the vessel, which was chartered by Indian Oil Corp for importing 2 million barrels of oil from Kuwait. That blaze was doused on Sunday. However, new flames erupted on Monday. The re-ignition of the fire occurred on the "right side of the vessel near the funnel at the rear…

07 Sep 2020

Fire Breaks Out Again on Stricken Supertanker Offshore Sri Lanka

Credit: Sri Lanka Navy

Firefighters are again battling flames aboard a fully loaded oil supertanker off Sri Lanka, the island's nation's navy said on Monday, four days after fire first broke out on the New Diamond."Fresh flames have risen in the funnel section of the MT New Diamond Supertanker and firefighters are battling the fire using foam to contain the blaze," said the Navy spokesman Captain Indika de Silva, adding that the fire had not reached the oil cargo of around 2 million barrels.A fire first broke out last Thursday in the engine room and spread to the bridge of the very large crude carrier…

03 Sep 2020

Fully Loaded Oil Tanker Catches Fire Off Sri Lanka

Image Credit: Andrey Pogodin/MarineTraffic

A fully loaded oil tanker has caught fire off the east coast of Sri Lanka, which has dispatched an aircraft and two navy ships to help in the rescue, a Sri Lankan navy spokesman said on Thursday.The New Diamond, a very large crude carrier (VLCC) chartered by Indian Oil Corp (IOC), was heading to the port of Paradip in India, where the state-run firm operates a 300,000 barrel-per-day refinery.The ship had sailed from the port of Mina Al Ahmadi in Kuwait, carrying Kuwait Export Crude…

25 May 2020

BIMCO Tanker Rate Analysis: Reality Kicks In, Rates Fall

Source: BIMCO, Clarksons

Tanker shipping: sky high freight rates replaced by reality of falling global oil demandGeopolitical tensions have now eased, leaving freight rates to feel the full effects of the weak underlying market and falling demand. Tanker shipping looks set to be under pressure for the rest of the year.Demand drivers and freight ratesThe tanker shipping industry was once again caught in a whirlwind, as freight rates skyrocketed with little regard to the poor market fundamentals before the latter once again caught up with rates.

21 May 2020

ABS Launches Guide for Wind-assisted Propulsion Systems

Viking Grace (Photo: Viking Line)

ABS has published the ABS Guide to Wind-assisted Propulsion System Installation, providing class safety standards when installing wind-assisted systems.The classification society said its new guide is applicable to both Flettner rotors and wing sails, including both rigid and soft sails. These wind-assisted propulsion technologies have been gaining attention as operators seek new ways to reduce fuel costs as well as their environmental footprint.“Wind-assisted propulsion systems…

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