Rystad: Largest oil supply surplus to hit in April
The largest oil supply surplus the world has ever seen in a single quarter is about to hit the global…
VLCC
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LNG delivers strong return on investment for VLCCs, study says
SEA\LNG is commissioning a series of independent studies by simulation and analytics experts Opsiana, this time focusing on LNG and its impact on VLCCs, highlighting LNG’s benefits, concerning strong return on investment for VLCCs on the Arabian Gulf to China trade route.
Crude export terminal to be built at US Gulf Coast
Enterprise Products Partners LP and Enbridge Inc have reached an agreement to jointly develop a US Gulf Coast crude export terminal, that will be capable of loading supertankers off Freeport, Texas. Currently, only the Louisiana Offshore Oil Port (LOOP) has the ability to fully load VLCCs from the Gulf Coast.
COSCO VLCC receives temporary US Waiver
A supertanker by COSCO Shipping Tankers has received a temporary waiver from US sanctions. The ship is now able to discharge crude oil cargoes. In fact, the VLCC Coswisdom Lake, which discharged some crude in Singapore last week, offloaded the rest of its oil at Brunei on October 16, Reuters said citing shipping data on Refinitiv Eikon.
Joint development project to design LNG-fueled VLCC
Lloyd’s Register announced the signing of an agreement for a joint development project (JDP) with several industry partners to design an LNG-fueled Very Large Crude Carrier (VLCC). The JDP will evaluate design options for an LNG-fueled VLCC that uses a prismatic GTT Mark III membrane LNG tank.
Euronav offloads oldest VLCC as part of fleet rejuvenation
Antwerp-based crude oil tanker operator Euronav NV announced that its subsidiary Euronav Luxembourg has sold the Very Large Crude Carrier (VLCC) ‘VK Eddie’, as part of its regular fleet rejuvenation. The vessel will be converted into an FPSO and therefore will leave the worldwide trading fleet.
VLCC export terminal to be built off Texas
Enterprise Products Partners and Chevron US. Inc., announced long-term agreements, aiming to support the development of Enterprise’s Sea Port Oil Terminal in the Gulf of Mexico. Enterprise’s SPOT project includes onshore and offshore facilities, such as a fixed platform located around 30 nautical miles off the Brazoria County, Texas.
VesselsValue: Potential war with Iran negative for most ship types
A wider conflict between the US and Iran would be negative for most types of ships and for the oil markets in general, as fewer ships will transit the Straits of Hormuz, said VesselsValue in its latest analysis, following tensions on the aftermath of the recent tanker attacks in the Gulf of Oman.
Watch: China launches first intelligent VLCC
China delivered its first smart very large crude carrier (VLCC) in Dalian, on June 22. The VLCC is called ‘New Journey,’ and is the world’s first intelligent VLCC with a loading capacity of 308,000 tons. The vessel was delivered to China Merchants Energy Shipping Company, after successful trials were conducted in May.
Watch: MOL to install augmented reality system on 21 VLCCs
Japanese shipping company MOL announced its intention to install a navigation system using augmented reality (AR) technology jointly developed by Furuno Electric and MOL Techno-Trade, on 21 MOL-operated very large crude oil carriers (VLCCs).
