How China Got Venezuelan Oil Despite US Sanctions
Last year, China replaced the United States as the No. 1 importer of oil from Venezuela, yet another front in the heated rivalry between Washington and Beijing.The United States had imposed sanctions on Venezuela’s state-owned oil company as part of a bid to topple that country’s socialist president, Nicolas Maduro. U.S. refineries stopped buying Venezuelan crude. Caracas’ ally China, long a major customer, suddenly found itself the top purchaser. Through the first six months of 2019, it imported an average of 350,000 barrels per day of crude from Venezuela.But in August, Washington tightened its sanctions on Venezuela, warning that any foreign entity that continued to do business with the South American country’s government could find itself subject to sanctions.
Norwegian OSV Player Enters Tanker Game
Standard Drilling, an offshore driller turned offshore support vessel owner, has now decided to make another shift in its game.The company, which in 2013 sold off its offshore drilling rigs, only to return as offshore vessel owner in 2016, on Tuesday said it would enter the tanker market by acquiring a 33.3% ownership in a newly built VLCC.Delivery from the yard, Daewoo Shipbuilding & Marine Engineering Co in Korea, is expected later this week. The purchase price of the VLCC is $106 million.Standard Drilling will invest $36.5 million…
Wärtsilä Propellers to Drive Greek Tankers
TMS Tankers Ltd, one of the largest Greece based shipping fleet operators, has selected Wärtsilä fixed pitch propellers (FPPs) for its new vessels under construction in China. The order was placed with Wärtsilä's joint venture company in China, Wärtsilä CME Zhenjiang Propeller Co Ltd (WCME), in December 2015. Other leading Greek shipping companies have also recently opted for Wärtsilä FPPs. The contract covers the propellers for four Aframax tankers under construction at the Hantong Ship Heavy Industry yard. The Wärtsilä FPPs will be fitted with the company's EnergoProFin solution, a propeller cap with fins that rotates together with the propeller to produce fuel savings of up to 5 percent.
ABS Nautical wins Two More Clients
ABS Nautical Systems Sign Two New Customer in Greece. ABS Nautical Systems has signed contracts with TMS Bulkers Ltd. and TMS Dry Ltd. for use of its NS5 Enterprise software. The Greece based bulk carrier operating companies for the TMS group were both looking to improve the machinery and structural assessment programs that are already in place. Both companies will implement the Hull Inspection and Maintenance & Repair software through the ABS Newbuild Program, which offers free software to ABS-classed vessels built after 1 January 2009.
ABS Nautical Systems Inks Contracts in Greece
ABS Nautical Systems has signed two new contracts in Greece with Millenia Maritime Inc. and TMS Tankers Ltd. Both companies will benefit from the ABS Newbuild Program which offers free software to ABS-classed vessels built after 1 January 2009. Millenia Martime Inc. will be installing the Hull Inspection and Maintenance & Repair modules from the NS5 Enterprise software suite on nine of its ABS-classed chemical carriers as a way to test a potentially more user-friendly system.
