Tanker owners continue to be deeply concerned that the current tanker market is seriously jeopardizing the sustainability of the tanker industry. Speaking recently to Intertanko’s Council in London, the Secretary General of the International Maritime Organization (IMO)…
The Oil Companies International Marine Forum (OCIMF), whose members charter tankers and offshore support vessels, has published new ‘Recommendations Relating to Requirements Governing Seafarers’ Hours of Work and Rest’ http://www.ocimf.com/Library/Information…
Knightsbridge Tankers Limited sells its VLCC 'Kengsington' to an unrelated 3rd party for delivery this month.The Company expects to record a gain of approximately $0.1 million in the fourth quarter having recorded an impairment loss of $13…
Consolidated Marine Management (CMM) take delivery of 'King Gregory', first of two fuel-efficient medium-size tankers from Hyundai Mipo.The 52,000 dwt King Gregory, is the first of two medium-range (MR), IMO II & III-class oil/chemical tankers…
Maersk Tankers exits its Handygas segment by selling all 11 vessels to Navigator Gas. The divestment allows Maersk Tankers to focus on fewer segments and releases capital for future investments.Hanne B. Sørensen, CEO Maersk Tankers, said…
Maritime Administration Reporting Requirements For The Special Purpose Jones Act Waiver. Hurricane Sandy Special-Purpose Jones Act Waiver Reports to Maritime Administration as Required by Waiver On November 2, 2012, the Department of Homeland Security…
Overseas Shipholding Group, Inc. starts Chapter 11 process to reduce debt & other financial obligations to create more solid financial foundation.The Chapter 11 petition for itself and certain operating subsidiaries was filed in the U.S…
Jeppesen optimization solutions to be used aboard BP's LNG, Product & Crude Oil vessels to increase efficiency, reduce risks & save fuel.The contract will result in the installation of Jeppesen’s Vessel and Voyage Optimization Solution (VVOS)…
Two shippers to use waiver to ship fuel to U.S. Northeast in the acute fuel shortage following the passage of Hurricane Sandy.Two companies have told the United States they intend to take advantage of a waiver allowing foreign-flagged ships to take oil products and additives from the U…
A decline in demand for freight transportation leads IBISWorld to update its market report on US Ocean & Coastal Transportation.The transportation sector provides deep-sea, coastal, Great Lakes and St. Lawrence Seaway water transportation…
American Petroleum Tankers (APT) affiliate intends to order the new ships from NASSCO Shipyared, San Diego.An affiliate of American Petroleum Tankers Parent LLC (“APT”), a company majority owned by funds managed by Blackstone on behalf of its investors…
Wärtsilä launch a new, highly efficient Aframax tanker design that offers solutions for current and forthcoming emissions legislation.Wärtsilä Ship Design has developed a double hull, single screw crude oil tanker featuring a CFD (Computational…
At 1601 ft. long x 242.7 ft. wide, the Prelude FLNG facility will be the largest offshore floating facility ever built. A new milestone was reached in the world’s use of LNG as fue, as Shell celebrated the cutting of first steel for the…
Aker Philadelphia Shipyard holds ceremonial keel-laying for first Aframax Tanker for SeaRiver Maritime, Inc.The ceremonial keel-laying was for the first of two Aframax tankers that it is building for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U…
Before the EU adopted sanctions on Iran in July this year, Suezmax super tankers were in dire straits. Previously there were too many tankships in operation and not enough demand for transport through the Suez Canal on to Mediterranean ports feeding European markets…