Tag: VLCC

In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, looks at the effect of Saudi Arabia’s crude oil production cuts and exports.

Bureau Veritas (BV), awarded an Approval in Principle (AiP) to Hyundai Heavy Industries Co., Hyundai Global Service CO. (HHI), TotalEnergies Gas & Power Limited, and Mitsui O.S.K. Lines, Ltd. (MOL), for wind assisted ship propulsion (WASP) on a Very Large Crude Carrier (VLCC) and a Liquefied Natural Gas (LNG) carrier.

On 28th May, Nigerian released a Norwegian-seized vessel, MT Heroic Idun, which caught because it attempted to steal Nigeria’s crude oil in August 2022.

MOL announced that it has completed the joint research and development with Asahi Kasei Engineering on "Predictive Detection of Marine Motor Anomalies by Vibration Sensors" and it has realized to commercialize V-MO, a monitoring service for marine motors.

As the Nautical Institute reports, a loaded VLCC was underway. The vessel’s weather routing service was forecasting waves with a significant height of more than six metres. The vessel’s speed was slowed to between five and six knots to reduce the chances of shipping seas on deck.

Breakwave Advisors in partnership with ETF Managers Group LLC, announced that the Breakwave Tanker Shipping ETF (BWET) will begin trading on the New York Stock Exchange.

In latest BIMCO’s ‘Shipping Number of the Week” analysis, Chief Shipping Analyst, Niels Rasmussen, looks at the high values for five-year-old Aframax, Suezmax, and VLCC crude tankers, which now stand at respectively 96%, 85%, and 83% of newbuilding prices.

Deltamarin and GTT today announced that they have received Approval in Principle (AiP) from the classification society ClassNK for the 12,500 m3 LNG dual fuel VLCC design.

On the 10th of March, Euronav signed an agreement with UN to sell a Very Large Crude Carrier (VLCC) as part of a wider salvage operation for the FSO Safer vessel in Yemen.

RINA awarded an Approval in Principle (AiP) of a first very large crude carrier (VLCC) vessel using an innovative propulsion arrangement that reduces the ship’s resistance by 5-10%. The vessel will meet the IMO targets for 2050 through the use of the ship’s fuel (LNG) combined with hydrogen produced onboard.