Tag: VLCC

The largest BWT systems operating on board VLCCs anywhere in the world NEI Treatment Systems, has commissioned, during sea trials, the world's highest capacity ballast water treatment system.In July 2011, a 6,350 cu m per hour Venturi Oxygen StrippingTM (VOSTM) BWTS was commissioned during sea trials on a VLCC built by Hyundai Samho Heavy Industries (HSHI) for Samco Shipholding of Singapore.The ballast water treatment results were verified by ABS, the Marshall Islands registry, the shipyard and the shipowner.The VOS-6000 BWTS was manufactured and supplied by NEI licensee Samgong VOS of South Korea and was the first of four BWTS to be fitted by Samgong on board four 318,000 dwt Samco VLCCs being built at HSHI.The installation and commissioning of the VOS-6000 was accomplished on schedule and to the quality standards of HSHI.NEI CEO Jon Slangerup said: "This is another key milestone for NEI's VOSTM System and for Samgong, our licensee and strategic partner in South Korea. This puts to rest the question of whether or not there is commercial technology capable and certified to handle the BWTS capacity requirements of the world's largest ships.NEI, Samgong, and our Japanese licensee Mitsubishi Kakoki Kaisha, working as a team, have built and installed ...

'The Middle East Gulf market is moving slowly Rates for oil tankers on key Asian freight routes are seen steady to lower over the next week as freight demand declines due to IEA's stock release and slower bookings for naphtha shipments, shipbrokers said on Tuesday.Rates on the benchmark Very Large Crude Carrier (VLCC) export route from the Middle East to Japan slipped to a two-month low of W49.03 from W49.08 last week on limited activity.''The Middle East Gulf market is moving slowly and there seems to be no sign of any light at the end of the tunnel,'' said broker firm ICAP.The dirty tanker market has steadied near 2011 lows following the IEA's announcement in mid-June that its members would release up to 60 million barrels from its emergency stocks.IEA's surprise action has pressured freight rates as oil consuming nations were likely to rely less on imports following the release of their reserves.''While we expect tanker market conditions to improve by the end of 2011, our expectations for a recovery in the tanker market have been both delayed and reduced as a result of the IEA's decision,'' said Douglas Mavrinac, analyst with Jefferies & Company.''IEA interference creates significant uncertainty for ...

New G80ME-C9.2 main engine Leading engine manufacturer MAN Diesel & Turbo is currently involved in several VLCC projects, which involve its new G80ME-C9.2 main engine.VLCCs were originally the primary target behind the introduction of the new prime mover, MAN said.The shipping industry is currently debating whether or not 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, the company claimed.Ole Grøne, MAN's senior vice president low-speed promotion & sales said: "We are delighted with the market response to the G-type. We viewed its introduction as both viable and timely and are pleased that the market has seen fit to back this up."The G-type programme was introduced to the market in October 2010 with the G80ME-C9 model. MAN subsequently expanded the ultra-long-stroke programme in May 2011 with the addition of G70ME-C9, G60ME-C9 and G50ME-B9 models.The G-types have designs that follow the principles of the large-bore Mk-9 engine series that the company introduced in 2006. Their longer stroke reduces engine speed, thereby paving the way for ship designs with unprecedented high-efficiency, MAN said.Tankers have traditionally used MAN B&W S-type engines with their long stroke and low ...

The tanker industry is at the start of a 5-year downturn Frontline owner, the Norwegian-born John Fredrikson noted that leasing their ships to oil companies is currently facing a weak market and forces the company to become more passive, and possibly even sell assets, including vessels.The tanker industry is at the start of a 5-year downturn, according to Tor Olav Troeim, who is a director at Frontline and several other companies at a conference near Oslo on Tuesday.According to the Baltic Exchange, VLCCs that reaped $177,036 a day in 2008 were last at $8,900. These vessels would need $29,700 a day in order to simply break even for Frontline.Frontline will pay a dividend of 10 cents a share for the first quarter after net profit dropped from over $79 million to $15.5 million in one year, as released in a statement.In a statement released by Frontline, the board explained the low results from the first quarter, seem to be extending well into the second quarter and makes for a grim projector of the quarters to come. The board doesnt see a turnaround for the tanker market in the near future, as they believe the supply of ships is growing more ...