Filter By:


Design for the largest and greenest Post-Panamax vessel unveiled

Eco- friendly tanker Sauter Carbon Offset Design has released details of a VLCC design, which the company claims will be the largest and 'greenest' Post-Panamax vessel, and which will provide the most economic form of crude oil transport.The concept, known as 'Emax Deliverance' is described as "a DynaWing solar hybrid supertanker". The designer claims that the "superior fluid dynamic Emax" vessel will obtains half of her power from LNG and the other half from advanced solar and wind power technology .The ship, of 2million barrel/330,000dwt capacity is designed specifically for the newly enlarged locks of the Panama Canal which will accommodate vessels with a maximum length of 426m, beam of 54m and draught of 18mThe hull is designed for low drag, and incorporates a twin-screw propulsion system with twin CRP hybrid propulsion pods reduces fuel consumption and GHG emissions by a claimed 35%. An additional 20%to 30% reduction could be achieved through the 500,000m2 DynaWing boom furling sails and 15% to 20% more by bringing the Solbian solar power generating array into use. Further features that are expected to make a total 75% reduction possible are the Mitsubishi bubble hull and the Wartsila coded LNG hybrid power system.Compared with a ...

Read more

MOL leads VLCC scrapping spree

AN effort to slim down its VLCC fleet Major tanker owner Mitsui OSK Lines is making a concerted effort to slim down its VLCC fleet. Fresh from reports a week ago of MOL scrapping the youngest VLCC to date - a 1995 double hulled giant - US investment bank Dahlman Rose has added that MOL has scrapped another pair of VLCCs.These two, built in 1996 and 1997, are now the youngest VLCCs to ever have been scrapped. Dahlman Rose suggests a total of 20 VLCCs have been sent for demolition this year, around half of which were sent in the final quarter.As MOL comes to terms with the projected lengthy downturn for tanker rates it has also recently formed a VLCC pool in Singapore which counts AP Moller-Maersk among its partners.Source: Seatrade Asia

Read more

Shipping cos may get breather if cargo support scheme is implemented

Shippers should be given at least three-six months before the implementation The recession-hit shipping companies will get a breather if the cargo support scheme suggested by a Government-appointed working group is implemented.The group wants all shippers (exporters and importers) with more than a pre-specified annual turnover should compulsorily use Indian ships for carrying a third of their goods. Their export incentives will be linked to fulfilling the shipping criteria, said a member of the working group.The group has suggested that shippers should be given at least three-six months before implementing the one-third cargo support scheme. Currently, Indian ships carry less than nine per cent of the country's cargo. The scheme is expected to not only boost the cargo share of national carriers, but also will help expand Indian tonnage.Currently, India has a fleet of 1,119 ships of 11 million gross registered tonnage or grt.In container cargo, the share of Indian ships is only 3.4 per cent. Even in oil and petroleum products, in which national bottoms enjoyed more than 50 per cent share a decade ago, the share has come down to 15 per cent."The scheme will be a game changer for Indian shipping. It will automatically, increase the national ...

Read more

MOL, Ocean Tankers, Maersk, Samco in VLCC pool

Agreement to pool a fleet of around 50 VLCCs Four major shipowners have signed an agreement to pool a fleet of around 50 VLCCs.Mitsui OSK Lines/Phoenix Tankers Pte Ltd, Maersk Tankers, Samco Shipholding and Ocean Tankers, Singapore, have signed a letter of intent to pool roughly 50 VLCCs with an average age of three years.The pool, which could control around 10% of the world fleet is expected to start operations on 1 February next year with offices in Singapore, Copenhagen and New York."The flexibility of a large, young and reliable fleet ensures that the VLCC Pool can, at all times, offer relevant vessels of the highest standard to cater for our customers' need for safe and environmentally friendly marine transportation," the companies said in a statementSource: Seatrade Asia

Read more

Top Japan companies shed 10 percent of supertankers

After a run of weak growth in crude oil demand Japan's three leading shipping companies are getting rid of 10 percent of their supertankers after a run of weak growth in crude oil demand that has undercut freight rates, the Nikkei reported.Nippon Yusen KK, Kawasaki Kisen Kaisha Ltd and Mitsui O.S.K. Lines Ltd are reducing their very large crude carriers (VLCCs) from 90 to 82, the business daily said.The VLCCs measure upwards of 330 meters in length, carry about 300,000 tons of crude, and cost around 10 billion yen ($128.29 million), the Nikkei said.Nippon Yusen has sold three of its 39 VLCCs to a Greek shipping company, each for about $37 million, the daily said.Kawasaki Kisen has sold one of its nine VLCCs to a South Korean firm for $37 million and Mitsui O.S.K. is considering disposing three of its 42 VLCCs by March, the Nikkei reported.VLCCs numbered 570 worldwide at the end of September, about 70 more than in 2007, making for about 17 percent increase in shipping capacity, according to shipping research firm Tramp Data Service Co, the paper said.But global crude oil demand grew less than 4 percent during this time, creating a capacity glut, the Nikkei ...

Read more

BP plans to send North Sea Forties crude to Asia

Traders describe the move as 'rare' BP is aiming to send two million barrels of North Sea Forties, the crude which usually sets the dated Brent oil benchmark, to Asia in a rare move, oil trading sources said on Wednesday.The company is sending a very large crude carrier (VLCC) with 2 million barrels of the distillate-rich crude to South Korea, according to the sources.The vessel is expected to load between December 15-20.The value of Forties has risen over the past week to a 43-cent premium to dated Brent on Tuesday, up from a discount last Thursday, in what traders said was partly a result of BP demand for the grade. BP declined to comment.Although the arbitrage to Asia is not unprecedented, traders describe the move as "rare.""It is very unusual," a North Sea crude trader said. "Last time it happened was in 2008."The move follows a free trade agreement between the European Union and South Korea, which became operational on July 1.According to the EU's website, import duties have been eliminated on nearly all goods and services under the deal.Market players said they expected companies to move to capture the reduction in tariffs going forward, which could further support Forties ...

Read more

Steel cutting for the first VLCC ordered by SCF Group took place in China

Cooperation between SCF Group and CNPC An official steel cutting ceremony, marking the start of construction of the first of two VLCC (Very Large Crude Carrier) tankers ordered by SCF Group, took place in China on 14 November 2011.The ceremony was held at Bohai Shipbuilding Heavy Industry Co. and was attended by Sergey Popravko, Sovcomflot Senior Vice-President; Igor Tonkovidov, President of Novoship; representatives from the yard and Chinese partners.SCF is one of the world leaders in the product tanker segment, as well the Aframax and Suezmax oil tankers segments. Now the company is entering the segment of the largest ships, namely the VLCC class (more than 300,000 dwt tonnes), as stipulated by SCF's current development strategy.Both the VLCC tankers under construction will be operated under time-charter contracts, for the transportation of crude oil, signed last December with the Chinese company PetroChina International (a subsidiary of the Chinese national oil and gas corporation - CNPC). The agreements stipulate the transportation of oil by SCF vessels from the countries of the Middle East, Western Africa, and Venezuela to China.The first vessel is expected to be accepted for operation in the fourth quarter of 2012. Technical management of the tankers, including supervision of ...

Read more

Maersk says to lease two tanker vessels

Says aims to grow fleet without adding capacity Maersk Tankers, the tanker shipping unit of Danish shipping and oil group A.P. Moller-Maersk, said on Monday it would lease two vessels from Korean shipping management company Cido Shipping.The two very-large crude carriers (VLCC) would be taken on long-term bare boat and would be delivered from Universal Shipyard in Japan in November and December 2011, Maersk Tankers said.When taking vessels on long term bare boat, the company leases the vessels without crew."It is Maersk Tankers' ambition to grow in the VLCC segment and become industry leaders, without adding to capacity," said Head of Crude Claus Gronborg. "Securing existing high quality and fuel efficient vessels when the timing is right is a part of the plan."Gronborg also said cooperation with other owners through pooling of vessels or other forms of partnerships was of interest to the company.Source: Reuters

Read more

Mideast crude tanker market rate gloom to deepen

VLCC rates still struggling below operating cost level A glut of vessels and softening oil demand are set to deepen an earnings slump in the Middle East crude tanker market, with little hope of a major recovery in rates in the coming months, analysts say.Industry association INTERTANKO warned last week that the sustainability of the industry was under threat if earnings remained below operating cost levels for an extended period.Average earnings for very large crude carriers (VLCCs) on the benchmark Middle East Gulf to Japan route have hit record lows in recent months, deepening profitability concerns."The current VLCC market is in dire straits," said Peter Sand, chief shipping analyst with ship association BIMCO."Demand has been positive, with a record of fixtures, but the fundamental imbalance is handing the negotiation power over to charterers as available vessels outnumber available cargoes."The International Energy Agency said on Wednesday world oil consumption would grow less quickly than expected this year and next as the pace of economic growth slows. OPEC also downgraded its global demand outlook the same day."In order to reverse the sluggish earnings going forward, owners either have to start larger scale slow-steaming or initiate widespread idling/laying up of vessels," Sand said.Average ...

Read more

Greek VLCCs to be powered by newly developed engine

MAN Diesel & Turbo's new 7G80ME-C9.2 type diesel engines Athens-based shipmanagement concern Almi Tankers will be the first to fit MAN Diesel & Turbo's new 7G80ME-C9.2 type diesel engines on two of its newbuilding VLCCs.The engines will be built by Hyundai Heavy Industries in South Korea with test bed running scheduled for January 2013. The vessels will be built at DSME, with delivery due in May and December 2013 respectively.MAN Diesel & Turbo said that it is also currently involved in several, active VLCC projects where the G80ME-C9.2 is the preferred engine choice. This vessel type was originally the primary target behind the introduction of the G80ME-C9.2 engine, the company explained.The shipping industry is currently debating whether, or not, a VLCC service speed should be reduced to 13 knots from the existing 15 to 15.5 knots, a scenario which the G80 is tailor-made to meet, MAN claimed.Ole Grøne, MAN's senior vice president low-speed promotion & sales said: "Traditionally, super long-stroke S-type engines, with relatively low engine speeds, have been applied as prime movers in tankers. Following the efficiency optimisation trends in the market, the possibility of using even larger propellers has been thoroughly evaluated with a view to using engines ...

Read more
Page 16 of 17 1 15 16 17