Tag: VLCC

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Almi Tankers Chooses OceanSaver BWT Solutions For Two VLCCs

Greek oil tanker operator, Almi Tankers S.A. has chosen OceanSaver Ballast Water Treatment solutions for its VLCCs currently under construction at Korea's Daewoo Shipbuilding & Marine Engineering Co. Ltd.The 320,000 dwt vessels will join Almi's fleet in July 2013 and November 2014 and are designed to exceed high environmental standards, reflecting client demand for clean & green operation. Almi Tankers currently manages two Aframax LR2 vessels and three newly-built Suezmax Crude Oil Carriers and is expecting the delivery of seven more Suezmaxes and two VLCCs by November 2014.Almi confirms the decision to choose OceanSaver follows a thorough evaluation of the company's Mark I and Mark II BWT technology and competing suppliers."OceanSaver BWT systems are backed by DNV's Type Approval Program. This type approval guarantees detailed evaluation of every aspect of vessel safety including the power balance of the vessel, installation procedures for the ballast tanks, and the thorough testing of ballasting sequences," an Almi Tankers representative said."Though encountering start up challenges, OceanSaver BWT technology confirms superior component quality and reliability. Its customized and innovative BWT solutions help us optimize lifecycle costs, improve ship performance and ultimately deliver the best service possible to very environmentally-conscious clients."It is Almi's first contract with ...

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Study on VLCC: impact of real fuel savings from trim optimization and hull fouling impact assessment

Potential annual fuel savings of $482,000 (730 tons) per tanker Eniram Limited, the fast-growing Finnish provider of real-time decision support solutions for the shipping and marine industry, has exposed the extent of tanker fuel inefficiency in an unprecedented study of the impact of dynamic trim optimization and monitoring of hull fouling resistance on propulsion energy efficiency.Eniram's landmark study focusing on the efficiency of Propulsion Energy on a 320 000+ DWT VLCC is , the most comprehensive of its kind due to the volume of data collected over 450 days at sea from attitude sensors positioned across the vessel. These sensors, along with dynamic data retrieved from operational vessel management applications, delivered the data to help the vessel operator assess the impact of sailing at non-optimal trim in terms of propulsion power consumption and fuel use.It revealed the scope for savings of 2.6% in annual fuel costs for the vessel - translating to $482,000 (730 tons of fuel) annually - through dynamic trim optimization alone.Equally of note were the findings relating to the impact of added resistance due to hull fouling. Data collected in the Eniram study found that the impact of fouling on the VLCC grew by 2.9% during the ...

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A Greek VLCC owner has won a notable victory in the UK’ s supreme court

Aeolos in supreme court win The court has overturned a ruling in favour of charterer Petrobras and found for the owner of the 306,000-dwt Kos (built 2001) in a long running dispute over payment for charter hire.But in May 2008 Petrobras failed to make a required payment of hire with the consequence that the ship was withdrawn in June of that year although the failure to pay did not amount to a repudiatory breach of contract.At the time of the withdrawal the Kos was loading cargo at Angra dos Reis in Brazil so there was a delay of 2.64 days while the ship was discharged.The tanker owner claimed on various grounds for the daily hire of the vessel at the market rate and bunkers consumed over the days in question with a major legal battle ensuing.The shipowner won in a London high court but the judgment was overturned on appeal.But there has now been a definitive final ruling in favour of ENE Kos 1, a single ship company that is the legal owner of the VLCC.The five supreme court judges delivered a detailed ruling on the Shelltime 3 charterparty and unanimously agreed the appeal should be allowed although there was ...

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China Merchants Reveals Intention to Buy Ten New VLCCs

Even though the oil tanker market is currently slow China Merchants Energy Shipping has revealed the intention to increase its competitiveness by purchasing 10 new VLCCs.Even though the oil tanker market is currently slow, Li Jian Hong, Chairman of China Merchants, is confident that this is the right moment for deriving a benefit from present low newbuilding prices and expanding the fleet capacity. The price tag for one new VLCC is significantly 37% lower if we compare it to the peak price recorded in September 2008.China Merchants is going to raise RMB 2.89 bln from the issuing of not more than 858m number of shares to designated investors at RMB 3.37 per share while the remaining amount will be borrowed from a number of banks.In case the company obtains the funds early this year, delivery of the first six VLCCs will be taken in 2013 and of another four in 2014.(2 890 000 000 Chinese yuan = 458.69502 million U.S. dollars)Source: World Maritime News

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Shipping tycoon Fredriksen to place new tanker orders

Orders for new VLCCs Norwegian tycoon John Fredriksen plans to invest hundreds of millions of dollars in new vessels, in defiance of market conditions that have forced many rivals into or close to bankruptcy, a British newspaper reported on Monday.Although the shipping industry has struggled with weak demand and overcapacity, the Financial Times newspaper said Fredriksen plans to invest hundreds of millions of dollars in new ships.The paper said Fredriksen's new venture Frontline 2012 -- a company that was created after the restructuring of Frontline, the largest independent global oil tanker operator -- is in the midst of placing its first order for 10 new medium-range tankers for oil products."We're looking to build new VLCCs (very large crude carriers)," Fredriksen told the Financial Times."At today's bunker prices, we'll save $10,000 a day. We've been offered newbuildings down to $85 million, so the risk is at least at less cost."The paper said Fredriksen's privately-owned Seatankers Group will purchase the vessels and then sell them on to Frontline 2012."We think it's a good deal. They're very economical vessels," Fredriksen said, referring to the deal for 10 new ships.When Frontline was restructured in January, Frontline 2012 took over six newbuilds, four Suezmax ships ...

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Changing face of VLCC Spot Market

VLCC spot market is likely to increase further With so much discussion of the poor freight rates available to VLCC owners hiring their ships out for voyages from the Middle East to major consumers east and west, it is informative to see how much the spot market for VLCCs has changed in just a few years.Since 2005, there has been a 25% reduction in reported AG/West spot VLCC voyages from 291 in 2005 to 216 in 2011. Just 11 AG/West fixtures were recorded in January 2012; if annualised the total would be 180, only 62% of the number recorded in just seven years earlier.The US, the world's largest oil consumer and traditionally the major customer for Middle Eastern oil, has diversified its supplies of energy with important effects for the VLCC market. The reasons for this diversification are complex and reflect not only market evolution, but changes to US economic, fiscal, environmental, and foreign policy.According to the latest US Energy Information Agency (EIA), domestic crude oil production up reversed a long-term decline to grow from 5.18million barrels per day (m bpd) in 2005 to 5.47m bpd in 2010. Meanwhile, oil imports from Canada rose from 1.6m bpd in 2005 to ...

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