Greece-based Tsakos Energy Navigation (TEN) has announced the charter extension for seven panamax tankers, for an average of 24 months, to a state oil concern. The charters which all incorporate profit sharing provisions are expected to generate minimum gross revenues of over $70 million…
The tanker market remained subdued, while the dry bulk and container markets strengthened during 2017, said Norwegian shipping company Torvald Klaveness. Torvald Klaveness managed to improve its financial results in 2017, but they “were still not at a satisfactory level”…
Ocean Yield has announced that 100% owned subsidiaries of the Company have agreed to acquire four VLCC crude tankers with 15-year bareboat charters to companies owned and guaranteed by Okeanis Marine Holdings. All four vessels are sub…
Norwegian police have launched an investigation into a hydrogen gas leak at Statoil's Mongstad refinery in October 2016, the company said on Friday.Statoil temporarily shut and evacuated its main refinery on Norway's west coast when a rusted pipe socket ruptured…
Norway's Höegh LNG said on Wednesday that its floating storage and regasification unit (FSRU) Höegh Giant has started its time charter contract with Spanish LNG operator Gas Natural Fenosa. The initial term of the contract is three years…
Watson Farley Williams (WFW) advised NYK Nippon Yusen Kabushiki Kaisha (NYK) on the execution on 26 January 2018 of its long-term charter contract with EDF LNG Shipping, a subsidiary of the electricity major, Electricité de France (EDF). The…
The number of liquefied natural gas (LNG) tankers traversing the Panama Canal is expected to jump 50 percent by September due to rising exports of the fuel from the United States, the head of the canal's governing agency told Reuters. After adding a third set of locks in 2016…
Cryogenic hose technology is driving a rethink of LNG transfer in bunkering – and beyond. Many backers of liquefied natural gas (LNG) as a marine fuel, as well as wider industry stakeholders, have for a while now suggested that it will soon enjoy exponential growth as a future bunker fuel…
Kongsberg Digital has launched a new 3D virtual application for its state-of-the-art K-Sim Cargo simulator. The system generates high-fidelity visualization for operational training on important areas of the cargo deck, enabling training centers…
Despite a shift in demand in the chemical shipping sector, Navig8 Chemical Tankers ended the fourth quarter ended 31st December, 2017 with a widened net loss of USD 3.7mln. Revenue for 4Q17 was $43.3 mill, compared to $33.9 mill for 4Q16. “The…
The National Shipping Company of Saudi Arabia (Bahri) received a very large crude carrier (VLCC) named “Lawhah” on Thursday, the company said. 'Continuing its strong start to 2018, Bahri accepted the delivery of ‘Lawhah to further cement its market-dominant position in crude oil transportation…
The Stamford, Connecticut-based Dorian LPG has reached a sale and bareboat charter arrangement for its 84,000 cbm carrier Concorde. The liquified petroleum gas shipping company entered into the USD 70 million deal that closed on January 31…
Chemical tankers are sailing into another challenging year, according to the London based chemical carrier, tank container and terminals group Stolt-Nielsen's Chief Executive Officer, Niels G. Stolt-Nielsen. 'Our outlook for the first half of 2018 remains essentially unchanged…
South Korean shipping company Hyundai Merchant Marine (HMM) has signed a long-term crude oil shipping contract with compatriot oil refiner GS Caltex. A press release from HMM said that the KRW190 billion (USD 180 million) contract will…
Oil and related shipments from Georgia's Black Sea port of Batumi in January were down 34 percent from a year earlier, an official at the terminal, operated by Kazakh KazMunaiGas , said on Thursday.The official gave no reason for the fall…