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Sunday, January 21, 2018

Product Carrier News

OSG Orders Four Product Carriers

Overseas Shipholding Group, Inc. will build four 73,500 dwt coated Panamax product carriers, or LR1 tankers, at the SPP Plant and Shipbuilding Co. Ltd. based in Tong Yang, South Korea. The vessels are scheduled for delivery in 2010 and 2011. As product trades continue to shift and globalize, OSG is enhancing its fleet of larger size product carriers in order to better service its customer base. Larger size product carriers are more economical for customers, are a more flexible vessel and augment the Company's diverse fleet of crude oil tankers, medium- and long-range product carriers and liquefied natural gas (LNG) vessels. The new vessels bring OSG's total fleet to 147 vessels, of which 107 are operating and an additional 40 vessels are slated for delivery between 2007 and 2011.

OSG Signs Time Charter for Four

Overseas Shipholding Group, Inc. signed an agreement with Parakou Shipping Ltd., an international shipping company based in Hong Kong, to time charter four product carriers for 10 years each. vessels, two of which are already under construction, will be built by STX Shipbuilding Co., Ltd. in Korea and are scheduled for delivery to OSG in September and October 2006 and April and June 2007. The product carriers, all sister ships with a capacity of 51,000 dwt and six segregations, will be able to transport petroleum products, vegetable oils and IMO III chemicals. Delivery of the vessels will increase the number of International and U.S. Flag product carriers in OSG's fleet to 50.

India's Great Eastern Shipping Sells Two

A dry bulk carrier has been delivered to the buyers & the contract for sale of a product carrier tankship has also been signed. The Great EasternShipping Company Ltd. (G E Shipping) has delivered its 1995 built Panamax dry bulk carrier Jag Arnav (about 71,000 dwt) to undisclosed buyers. Earlier, the company contracted to sell Jag Pawar, a 1988-built general purpose product carrier of about 29,900 dwt, with delivery to the buyers in Q1 2014. With the delivery of Jag Arnav, the Company’s current fleet stands at 32 vessels, comprising 23 tankers (9 crude carriers, 13 product carriers, 1 LPG carrier) and 9 dry bulk carriers (1 Capesize, 3 Kamsarmax, 4 Supramax, 1 Handymax) with an average age of 9.7 years aggregating 2.53-million dwt.

OSG to Time Charter Product Carriers

Overseas Shipholding signed agreements with subsidiaries of Cido Tanker Holding to timecharter a pair of product/chemical carriers for 10 years. The 47,000 dwt ships will be built at Hyundai Mipo Dockyard and are scheduled for delivery in 2009. The two vessels, the Overseas Polaris and the Overseas Pisces, will have six segregations, and will be able to transport petroleum products, vegetable oils and IMO III chemicals. Delivery of the vessels will increase the number of International and U.S. Flag product carriers in OSG's fleet to 54.

ODC Completes Type Product Carriers

Onomichi dockyard Co., Ltd. (ODC) completed construction of two 47,000 DWT type product carriers, Amazon and San Jacinto, for OMI Corporation in January and March 2002, respectively. The carriers are the 30th and 31st carriers of the 47,000DWT series built since the first in 1995. The company will build ten more product carriers, which are now one of the best sellers among standardized vessels built by the company. The 47,000 DWT type series is designed under the policy of building “double hull product carriers at low cost for efficient oil product transport.” The series has a maximum beam of 32.2m, which can pass through the Panama Canal, and a dept of 19.1m, which is the maximum depth to retain the ship stability.

NASSCO Delivers Third Product Carrier

General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), delivered the third ship of its State-class of product carriers to American Petroleum Tankers, LLC, a joint venture of the Blackstone Group. The ship is named Sunshine State, the state nickname of Fla. NASSCO began constructing the Sunshine State in August 2007. At a length of 600.4 feet, the double-hulled ship has a cargo capacity of approximately 331,000 barrels and will be used to carry petroleum and chemical products in Jones Act service between U.S. ports. “Completed 11 months ahead of our original schedule and under budget, the Sunshine State is the third product carrier NASSCO has delivered this year and reflects greatly upon the skilled shipbuilders in San Diego…

OMI Corporation Orders Vessel

OMI Corporation of Stamford, Connecticut has ordered one 37,000 dwt ice-class 1A product carrier to be built by Hyundai Mipo Dockyard Co., Ltd., Ulsan, Korea. The vessel is scheduled to be delivered in June of 2005. Craig H. Stevenson, Jr., Chairman and Chief Executive Officer, said "we continue to grow our core business of double hull product carriers and Suezmaxes; this is the fifth sister product carrier on order, three of which will commence five year time charters upon their deliveries in 2004. We maintain our optimistic outlook for both time charter and spot market business."

STX Shipbuilding Gets $350M Order

STX Shipbuilding Co. of South Korea has received a $350 million order to build petrochemical product carriers from U.S.-based B&H Co. STX will build 12 46,000 dwt petrochemical product carriers and deliver them from the second quarter of 2005 to the U.S. company. STX Shipbuilding said this is its first contract with a U.S. company, a result of efforts to diversify its markets to include the U.S., besides Europe and Africa.

OMI Corp. Acquires Vessels

OMI Corp. has agreed to attain two 47,000-dwt product carriers from another owner that are currently under construction at Onimichi Dockyard in Japan. The vessels will be delivered to the company in September and late November 2000, upon which they will commence two time charters to an oil company. The company has also agreed to sell the 29,996-dwt product carrier Tiber, which was built in 1989, and is the last of its Polish built vessels.

BP to Charter Two OSG-Controlled Product Carriers

Overseas Shipholding Group, Inc. Kvaerner Philadelphia Shipyard. U.S. market. Aker and OSG announced the 10-ship program in April 2005. 2006, took place in the yard's dry dock in October. beginning of steel cutting for the ship in late November.

Gorthon Lines Sells Forest Product Carrier

Gorthon Lines has sold the forest-product carrier Stig Gorthon on private terms. Built in Sweden 1979, the vessel, which was delivered to its new owners on September 10, 2003, has a dwt of 8,670 mton.

Towing Drill – Station Barnegat Light

Seaman Michael D. Hilbert tosses a heaving line to Petty Officer 3rd Class David W. Feather and Petty Officer 2nd Class Kristopher G. Mosgrober during a towing drill conducted by crewmembers of Coast Guard Station Barnegat Light, N.J., Friday, Nov. 21, 2008. Members of Station Barnegat Light conduct drills with a standardization team every two years to assess their readiness to respond to mariners in need of assistance. (U.S. 16. On Nov. 24, General Dynamics NASSCO of San Diego…

Nassco Delivers First of Class Product Carrier

General Dynamics Nassco, a wholly-owned subsidiary of General Dynamics (NYSE: GD), delivered the first ship of its new line of product carriers to U.S. Shipping Partners on Jan. Nassco began constructing the Golden State in August 2007. At a length of 600 ft, the ship has a cargo capacity of approximately 331,000 barrels and will be used to carry petroleum and chemical products between U.S. ports. The ship is named in honor of the State of California. “Nassco completed the Golden State six months ahead of our original schedule, under budget, while simultaneously meeting or exceeding all quality requirements,” said Fred Harris, president of General Dynamics Nassco.

Motia Continues Product Tanker Expansion

from STX Shipbuilding, Korea. Pool. very high quality product carriers. for product tankers. carry Italian crew. STAR HULL NB, +AUT-CCS, VCS, Green Star (Clean Air & Clean Sea).

STX Wins $183 Tanker Order

Reuters reported that South Korea's STX Shipbuilding Co. has won a $183.3m order from Malaysia to build four product carriers. Source: Reuters

NASSCO Delivers Second Product Carrier

General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), delivered the second ship of its State-class of product carriers to USS Products Investor, a shipbuilding joint venture led by the Blackstone Group. The ship is named Pelican State, the state nickname of Louisiana. NASSCO began constructing the Pelican State in August 2007. At a length of 600.4 ft, the double-hulled ship has a cargo capacity of approximately 331,000 barrels and will be used to carry petroleum and chemical products in Jones Act service between U.S. ports. “Completed more than eight months ahead of our original schedule, under budget, and in substantially fewer man-hours than the lead ship of the class…

Hellespont Names New Panamax Tankers

Hellespont has officially named the last two of six panamax tankers constructed for the company at the New Century Shipbuilding Co Ltd in Jingjiang, China. The product carrier Hellespont Providence was named by Mrs. Daphne Papachristidis-Bove, wife of Alexander Papachristidis-Bove, President of Seatramp Tankers Inc. The Hellespont Protector, meanwhile, was named by Mrs. Andrea Meyer, wife of Kai-Kristian Meyer, Managing Director of HCI Capital, organizers of the financing of the vessels. Both vessels will begin long-term charters with The Sanko Steamship Co. Ltd. of Japan on delivery later this year. Hellespont operates four further panamax product carriers, one aframax tanker and four suezmax tankers. There will be a fifth suezmax tanker under operation shortly.

NASSCO Begins 5th Product Carrier

General Dynamics NASSCO, a wholly-owned subsidiary of General Dynamics (NYSE: GD), began construction of the fifth ship in its series of product carriers.  The shipyard is scheduled to deliver the ship to U.S. Shipping Partners in the third quarter of 2010. The ship will be named Evergreen State, the state nickname of Washington.  Designed to carry petroleum and chemical products in Jones Act trade between U.S. ports, the double-hulled ship will be 600.4 ft in length and have a cargo capacity of approximately 331,000 barrels. In addition to the product carrier construction, NASSCO is also building the Lewis and Clark-class of dry cargo-ammunition ships for the U.S. Navy.  (www.nassco.com)

NASSCO Lays Keel of Fourth Product Carrier

General Dynamics NASSCO, a wholly-owned subsidiary of General Dynamics (NYSE:GD), laid the keel of the fourth ship of its State-class product carriers. The ship will be named Empire State, the state nickname of New York. NASSCO began constructing the Empire State last January. The ship will be double-hulled and have a cargo capacity of approximately 331,000 barrels. It will be used in Jones Act service, carrying petroleum and chemical products between U.S. ports. The shipyard anticipates delivering the vessel to U.S. Shipping Partners in the second quarter of 2010. General Dynamics NASSCO employs more than 4,700 people and is the only full-service ship construction and repair yard on the West Coast of the United States.

OMI Takes Delivery of New Vessel

OMI Corporation of Stamford, Ct., announced that on February 26, 2004 it had taken delivery of the LOIRE, the first of seven 37,000 dwt product carriers designated as ice-class 1A, being built for it by Hyundai Mipo Dockyard Co. in Ulsan, Korea. The vessel has commenced a five year time charter party with a major oil company at a base rate with profit sharing in excess of the base rate. Craig H. Stevenson, Jr., Chairman and Chief Executive Officer said "we continue our strategy of growth with secure revenue. This vessel and four of the six sisters to follow are time chartered for five years from delivery, adding to our secured growth, improving our age profile and putting us in a leading position in ice-class product carriers."

TEN Buys 9 Tankers for $530M

TEN, the New York quoted Greek tanker company controlled by the Tsakos family, confirmed it has bought for nine ice class 1A tankers from Western Petroleum for $530 million. The fleet consists of six 53,000-dwt medium range chemical/products carriers delivered by Hyundai Mipo Dockyard last year and three 116,000-dwt coated aframax products carriers for delivery from Hyundai Heavy Industries in May August and October this year. The acquisitions would be financed with a mixture of corporate cash and bank debt. The handymax tankers which all fly the Bahamas flag are the Western Baltic, Western Pacific, Western Atlantic, Western Antarctic, Western Arctic and Western Icelandic. The six vessels are due for delivery to TEN in April.

G E Shipping contracts to sell a Medium Range product tanker

  The Great Eastern Shipping Co Ltd. (G E Shipping) has signed a contract to sell “Jag Padma”, a Medium Range (MR) product tanker. The 1996 built vessel of about 47,172 dwt will be delivered to the buyers in May 2014. Including “Jag Padma”, the Company’s current fleet stands at 30 vessels, comprising 22 tankers (8 crude carriers, 13 product carriers, 1 LPG carrier) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax and 4 Supramax) with an average age of 10 years aggregating 2.42 mn dwt. Great Eastern Shipping 

G.E. Shipping delivers “Jag Padma” to buyers

GE Shipping

  The Great Eastern Shipping Company Ltd. (G E Shipping) today announced having delivered its 1996 built Medium Range Product Tanker “Jag Padma” (47,172 dwt) to the buyers. With the delivery of this vessel, the Company’s current fleet stands at 29 vessels, comprising 21 tankers (8 crude carriers, 12 product carriers, 1 LPG carrier) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax, 4 Supramax) with an average age of 9.8 years aggregating 2.37 mn dwt. G.E. Shipping

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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