Tankers Inc News

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced on Tuesday that nine ships have been enrolled in the Tanker Security Program (TSP), a newly created public-private partnership program that makes U.S.-flag commercial product tankers available to support U.S. armed forces and national economic security.“Today we are announcing the first ships to join the Tanker Security Program, which will help strengthen both our supply chains and our national security…

Offshore wind farm construction and services company Eneti Inc. announced it has sold its entire holding in Scorpio Tankers Inc.Eneti said it sold its 2,155,140 common shares in Scorpio Tankers for $38.65 per share, for gross proceeds of approximately $83.3 million.As part of the transaction, Scorpio Tankers purchased approximately 1.3 million shares for approximately $50 million.Eneti, formerly Scorpio Bulkers, in 2021 changed its name and began selling off its bulk carrier fleet in a pivot to offshore wind farm construction and services.

Scorpio Tankers Inc. has entered into a memorandum of understanding (MOU) with Carbon Ridge to collaborate on the development of onboard carbon capture for maritime vessels.Carbon Ridge is a U.S.-based startup working to commercialize existing gas separation technology without the need for large structural modifications. The agreement addresses the collaboration for detailed front-end engineering, design and validation process with a small-scale test unit onboard one of the company’s vessels.Emanuele A.

Tanker shipping company Hafnia on Thursday announced it has completed its acquisition of 32 product/chemical tankers from Chemical Tankers and 12 LR1 tankers from Scorpio Tankers.Singapore-headquartered Hafnia, created through a merger between Hafnia Tankers and BW Tankers in 2019, now has an owned fleet of 152 vessels and commercially managed fleet of 242 vessels.“These transactions cement our position as the world's largest operator in the product and chemical tanker segment. The 44 new vessels are all compliant with the 2023 EEXI requirements and bring Hafnia closer to achieving IMO’s 2030 carbon intensity goal by 2028," said Hafnia's CEO…

Classification society ABS has published guidance on the application of additive manufacturing (AM) in the marine and offshore industries.The ABS Guide for Additive Manufacturing focuses on two main categories of metal AM processes: Powder Bed Fusion and Directed Energy Deposition. The Guide defines the ABS approval and certification process for AM facilities and AM parts by providing standards for AM design, feedstock material, building processes, inspection and testing. The Guide includes a strong focus on the quality of the materials and of the manufacturing process…

Additive manufactured parts have been built, tested and installed on board the U.S.-flagged oil tanker Polar EndeavorTraditionally, parts used in shipbuilding and repair are manufactured via casting or forging techniques. For this project, a consortium consisting of ABS, Sembcorp Marine, 3D Metalforge and ConocoPhillips Polar Tankers Inc. (Polar) aimed to utilize additive manufacturing (AM) to fabricate three types of parts that surpass conventionally manufactured products in terms of quality.

Shipowner Ocean Yield has completed the sale of the Navig8 Amessi chemical tanker to Navig8 Chemical Tankers.Navig8 Chemical Tankers Inc. had in January declared the purchase option on the 2015-built chemical tanker. It was then said Navig8 would pay USD 26.5 million for the transaction.Ocean Yield on Wednesday said the transaction for the Hyundai-built tanker was successfully completed."Following repayment of the bank debt on the vessel, the transaction will give net cash proceeds of about USD 9.7 million for Ocean Yield. The transaction is not expected to have any impact on the net results for Q3 2020," Ocean Yield said.According to MarineTraffic, the Navig8 Amessi is currently at anchor near Panama City, Panama, waiting to pass through the Panama Channel.

The Greek marine transportation provider Pyxis Tankers Inc announced that it had agreed to sell the Pyxis Delta, a 2006 built 46,616 dwt product tanker.The emerging growth pure play product tanker company said that the closing of the sale should occur in January, 2020 and is subject to customary closing conditions.Valentios Valentis, our Chairman and CEO said: “The sale of our oldest, non-eco MR tanker reduces the average age of our fleet and provides us capital to repay debt, improve balance sheet liquidity and pursue growth opportunities, more cost-effectively."He added: "As we move into 2020, an exciting time for our sector, we look…

Pacific Green Technologies Inc. (OTCQB: PGTK), developer of the ENVI-Marine  emission control system, has announced that Scorpio Tankers Inc. (“Scorpio Tankers”) has confirmed that it has ordered a further 14 ENVI-Marine emission control systems (the “Systems”) for vessels it owns or manages in 2020, at a combined cost of $20.3m. The order is on top of the 52 Systems already ordered by Scorpio Tankers, as announced in December 2018. The Systems that are being fitted are a ‘hybrid ready’ design…

Pacific Green Technologies Inc., developer of the ENVI-Marine emission control system, announced that, effective June 26, 2019 that Scorpio Tankers Inc. exercised options to install the ENVI-Marine system on an additional 14 vessels that STNG owns or manages.The pricing of the ENVI-Marine system for the vessels is currently being calculated in accordance with gas flow volumes under the terms of the Framework Agreement.

Shares of U.S.-listed shippers rose after dry bulk shipper Globus Maritime Ltd posted its first Q3 profit per share in four years. GLBS jumped 10.20 pct, Pyxis Tankers Inc soared 39 pct, nd EuroDry Ltd up 13.2 pct. GLBS says Q3 profit was helped by reducing operational costs by ~25 pct from the last quarter which did not hamper operations, and/or utilization of the fleet.GLBS also posted higher Q3 revenue helped in part by strong demand for dry bulk vessels.

Choice Ballast Solutions announced it has expanded its collaboration with Scorpio Ship Management S.A.M., as agent for certain vessel-owning subsidiaries of Scorpio Tankers Inc., by contracting to provide turnkey integration engineering and project management services for ballast water management system (BWMS) installations on board an additional 39 vessels.The previous contract with Scorpio Tankers on 12 ships of the Duchessa Class is already underwaywith recently completed Engineering Design and Shipyard Installation packages for the STI Duchessa and STI Opera.John Dooley…

Denmark-based shipping company Hafnia Tankers is exploring the possibility of consolidation with BW Tankers, part of BW Group, Hafnia’s CEO Mikael Skov said.In its half year results statement Hafnia said: “Hafnia is exploring the possibility of consolidation with BW Tankers, a company owned by BW Group, one of our shareholders.”BW Group increased its shareholdings in Hafnia in early July when it acquired BTS Tankers Partners LLC. With the acquisition, BW Group became the beneficial owner of 43.5% of the Hafnia Group.Last month, BW Group said it has entered into a definitive agreement to buy a 36.3% stake in Hafnia Tankers, a shipping company formed by the management team of former Tankers Inc.

NOAA presented awards to 13 global shipping firms for their commitment in helping prevent ship collisions with whales off the coast of California.The companies participated in a Voluntary Speed Reduction initiative by slowing their ships to speeds of 10 knots (about 11.5 mph) or lower while transiting vessel traffic lanes outside the Golden Gate during whale feeding season, from May through mid-November.The national marine sanctuaries of North-central California - Greater Farallones…

Choice Ballast Solutions was recently contracted by Scorpio Ship Management S.A.M., as agent for certain vessel-owning subsidiaries of Scorpio Tankers Inc. to provide engineering and project management to retrofit the Ecochlor ballast water management system (BWMS) on 12 of their vessels. The engineering is underway, and retrofits are scheduled to commence during each vessel’s next dry dock beginning in the fourth quarter of 2018 and extending into 2020.John Dooley, President of Choice Ballast Solutions, said, “Scorpio is recognized worldwide for their proactive policies to safeguard the environment and have operational strategies to provide superior results over time.

BW Group has entered into a definitive agreement to buy a 36.3% stake in Hafnia Tankers, a shipping company formed by the management team of former Tankers Inc. The majority of the shares will be acquired through BTS, a collaboration between Blackstone-managed funds, Tufton Oceanic and Hartmann, and the balance purchased directly from certain Blackstone-managed funds. ombined with recent purchases from other shareholders, BW Group will own 43.5% of Hafnia Tankers. Carsten Mortensen, CEO of BW Group says, “BW Group is pleased to acquire this shareholding in Hafnia Tankers with its strong operational platform and quality fleet. We look forward to discussions with the other shareholders about the future strategy.

Scorpio Tankers Inc announced that it has agreed to sell and leaseback two MR product tankers (STI Gramercy and STI Queens) and two LR2 product tankers (STI Oxford and STI Selatar) in two separate transactions to an international financial institution. Upon completion, the Company’s liquidity is expected to increase by $42 million in aggregate after the repayment of outstanding debt. These lease financing arrangements are part of the Company’s new financing initiatives that were announced on April 25, 2018. As part of the agreements, the Company will bareboat charter-in the vessels for a period of seven years. In addition, the Company has purchase options beginning at the end of the third year of each agreement.

Monaco-based tanker owner Scorpio Tankers has reported a widened net loss for the fourth quarter of 2017, reaching USD 41.5 million, when compared to the same quarter from 2016 when its net loss was USD 29.7 million. The shipping company posted revenue of $148.4 million in the period. For the year, the company reported that its loss widened to $158.2 million, or 73 cents per share. Revenue was reported as $512.7 million. Emanuele Lauro, chief executive officer and chairman of the board commented, “During the fourth quarter of 2017, we incurred some additional costs and reductions in revenue from the integration of the NPTI fleet. We believe that these steps were important in order to better capitalize on the improving product tanker market fundamentals.

Scorpio Tankers has agreed to sell and leaseback five 2012 built MR product tankers (STI Amber, STI Topaz, STI Ruby, STI Garnet, and STI Onyx) to Bank of Communications Financial Leasing  (Bocomm Leasing). As of today, three of the five transactions have been completed, which has increased the Company’s liquidity by approximately $21 million in aggregate after the repayment of the outstanding debt. The sales price for each vessel is $27.5 million, and the Company will bareboat charter-in the vessels for a period of seven years at $9,025 per day per vessel. The Company also has three one-year options to extend the bareboat charter agreements beyond the initial term. In addition, Scorpio Tankers has purchase options beginning at the end of the fifth year and until the end of the agreements.

Scorpio Tankers Inc. announced that it has closed the previously announced merger with Navig8 Product Tankers Inc. (NPTI). As consideration, Scorpio has issued 55 million shares of its common stock to the holders of NPTI’s common shares or 19.7% of the current 279,663,300 Scorpio common shares issued and outstanding. Through the Merger and related transactions, Scorpio has acquired an operating fleet of 27 eco-design product tankers, comprised of 15 LR2s and 12 LR1s with a weighted average of 1.2 years and an aggregate carrying capacity of approximately 2.6 million dwt. Scorpio’s operating fleet now consists of 105 owned or finance leased tankers (38 LR2 tankers…

Scorpio Tankers said shareholders of Navig8 Product Tankers Inc. (NPTI) approved the previously announced merger of Scorpio and NPTI at shareholders meeting held Tuesday. At the meeting, approximately 94.25 percent of the NPTI shares outstanding were voted, all of which were in favor of the merger. The merger remains subject to customary closing conditions and is expected to close on or about September 1, 2017. Three months ago, Scorpio Tankers announced that it had reached a deal to acquire 27 recently built LR tankers by merging with Navig8 Product Tankers. The deal makes Scorpio the largest product tanker firm on a U.S. securites exchange, and Scorpio said it expects the increased scale of its operations to reduce costs and increase vessel utilization.

Navig8 Chemical Tankers Inc,  international  shipping company focused on the transportation of chemicals, has  entered  into  contracts  to  acquire  32  modern,  fuel-efficient  newbuilding  chemical  tankers. As of today, 31 of these vessels have been delivered and are in operation, the company said in a press release. The remaining vessel is scheduled to be delivered in the third quarter of 2017. Upon their respective deliveries, the Company’s vessels have and will be deployed in commercial pools managed by the Navig8  Group,  including  the  Chronos8,  Delta8  and  Stainless 8  pools. The Company’s newbuilding fleet is composed of eighteen IMO2 37…

Scorpio Tankers has reported a fourth-quarter loss of $29.7 million or a loss of 18 cents per share. The shipping company posted revenue of $106.1 million in the period, also exceeding Street forecasts. Scorpio Tankers sharply reduced its quarterly dividend by 92% to $0.01 from $0.125. For the year, the company reported a loss of $24.9 million, or 15 cents per share, swinging to a loss in the period. Revenue was reported as $522.7 million. The Company currently has nine newbuilding vessel orders (eight MRs and one LR2) with HMD and SSME, which the Company refers to as its Newbuilding Program. Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide.