28661 members and growing – the largest networking group in the maritime industry!

LoginJoin

Wednesday, June 19, 2019

Chemical Tankers News

Pic: Panama Canal Authority

Panama Canal to Modify Tolls Structure

The Panama Canal published a proposal to modify its current tolls structure for the dry bulk, passenger, containership and vehicle carrier and RoRo segments, as well as tankers, chemical tankers, LPG and LNG vessels, the intra-maritime cluster (local tourism segment) and minimum tolls (small vessels).According toa press release from the Panama Canal Authority (ACP), the announcement marks the beginning of a 30-day formal consultation period for industry feedback, which will close on July 15…

Per Ekmann. Photo: Uni-Tankers

Ekmann Named CEO of Uni-Tankers

Tanker ship operator Uni-Tankers, part of the USTC group, has appointed Per Ekmann as its new CEO. “I’m both happy and proud to have the opportunity to lead the way forward at this important stage in the company’s history. Uni-Tankers is based on proud and strong values, and with the recent implemented changes, the foundation is in place to realise our strategy together with our skilled employees,” said Per Ekmann. In future, the Uni-Tankers Executive Board will comprise Per Ekmann, CEO, and Thomas Thomsen, CFO.

Paolo Enoizi. Photo: Stolt-Nielsen

GasLog, GasLog Partners Name COO Designate

GasLog and GasLog Partners announced that Paolo Enoizi has been appointed as Chief Operating Officer (COO) Designate of GasLog and GasLog Partners.Paolo, who will be based in Piraeus, Greece, will take up his role in August 2019 and initially work alongside current COO Richard Sadler to ensure a smooth transition of responsibilities.On joining GasLog in August 2017 and in addition to his day-to-day responsibilities, Richard indicated his desire to work with the rest of the senior leadership team to identify a long-term successor for the COO role.

Diamond S Shipping Taps Kilcullen as CFO

US-based tanker owner Diamond S Shipping Inc. said it has appointed Kevin M. Kilcullen as its new Chief Financial Officer.Kilcullen comes to Diamond S from Oslo-listed chemical and product tanker owner/operator Team Tankers International Ltd., where he served as CFO for three years. Prior to that, he was CFO at Principal Maritime LLC, a private equity backed owner of crude and chemical tankers.Diamond S Shipping Inc. expects to become an NYSE-listed company with the closing of its combination with the crude and product tanker business of Capital Product Partners L.P. later this month.

Pic: Navig8 Chemical Tankers Inc.

Navig8 in Sale, Leaseback Pact with China Bank

Navig8 Chemical Tankers  entered into sale and leaseback agreements with ICBC Financial Leasing for four ships.The tanker company focuses on the maritime transportation of Chemicals worldwide said in a press release that the net proceeds from the transaction of four of the Company’s IMO2 37,000 DWT Interline coated tankers  were $94,710,000.A portion of the proceeds was utilized to repay existing loans used to finance the Vessels’ newbuilding contracts under the multi-bank loan facility announced by the Company on February 3…

Pic: MOL Chemical Tankers

MOL, Den Hartogh Form Chemical Logistics Alliance

Singapore-based MOL Chemical Tankers (MOLCT) and Dutch Den Hartogh Logistics have established a strategic alliance to jointly develop and streamline liquid chemical logistics services utilizing tank containers, parcel chemical tankers and tank terminals.MOL Chemical Tankers is one of the global leaders in ocean transport, specializing in chemical parcel tankers for bulk liquid chemicals and vegetable oil and animal fats.As strategic partners MOLCT and Den Hartogh Logistics offer their customers in the petrochemical industry truly global supply chain solutions…

Pic: Nordic Tankers

Japan's MOL Acquires Nordic Tankers

Japanese shipping giant MOL's Chemical Tankers unit has agreed to take full control of Triton-owned Nordic Tankers. The deal expected to close in February 2019.Denmark-based Nordic Tankers said in a press release that its current sole shareholder Triton agreed to sell and deliver 100% of shares to MOL Chemical Tankers (MOLCT) and MOLCT buys and takes delivery of 100% of shares of NT from Triton, in each case together with all rights attached to them on and with effect from the…

Pic: Port of Rotterdam Authority

Rotterdam Port Awards Green Award Discount for Vessels

The Port of Rotterdam Authority will widen and facilitate the Green Award discount for sea-going shipping from the start of 2019.The discount will encourage safe and green shipping in the liquid bulk segment. From 2019 onwards, certified chemical tankers and sea-going vessels with a cargo capacity (DWT) of less than 20,000 tons may also make use of the scheme.Also new for 2019 is that the Port Authority is making the port dues process more customer friendly for shipping lines whose vessels call at the Port of Rotterdam.

Photo: Ardmore Shipping

Ardmore Shipping Partners With SEDNA

Product and chemical tanker operator Ardmore Shipping has chosen SEDNA as its new email management and team collaboration platform for their global commercial desks, including operations, chartering and commercial finance teams.According to Ha Eun Ruppelt, Ardmore Shipping’s Commercial Project Manager, the decision to choose SEDNA began with the organization’s commitment to achieving the same high standards of efficiency and operational performance in its commercial activities…

Harald Solberg (Photo: Norwegian Shipping Association)

A New Age for Norwegian Shipping

It’s about more than maritime. Harald Solberg, CEO of the Norwegian Shipping Association, sees a world of opportunity from his office overlooking Oslo. Here he talks markets, innovation, ocean developments, and even rubbish. Norway, he believes, has a leading role to play.Harald Solberg is 42, but looks younger. Hearing him outline a career that has so far taken in politics, media, the Norwegian Royal Palace, and, of course, shipping, is a little surreal. For a moment one wonders who he’s talking about – his boss…

The container segment continued to serve as the leading market segment for tonnage through the Canal, accounting for 159 million tons of the total cargo received, of which 112.6 million PC/UMS tons transited the Expanded Canal. (Photo: Panama Canal Authority)

Panama Canal Sets Record Annual Cargo Tonnage

The Panama Canal closed its 2018 fiscal year with a record tonnage of 442.1 million Panama Canal tons (PC/UMS), which represents a 9.5 percent increase from the previous year, the Panama Canal Authority reports.With this tonnage, the Panama Canal surpasses the cargo projections of 429.4 million PC/UMS tons for FY 2018, as well as the 403.8 million PC/UMS tons registered in FY 2017."The Panama Canal continues to exceed our expectations, reinforcing every day the importance of the waterway's expansion and its impact on global maritime trade," said Panama Canal Administrator Jorge L. Quijano.

GSW Frontier (Photo: Stena Bulk)

Stena Bulk Forms Chemical Tanker JV with Bay Crest Management

Golden-Agri Stena, a joint venture between Sweden based tanker shipping company Stena Bulk and Indonesia’s largest palm oil producer Golden Agri-Resources, has started a new joint venture with Japan's Bay Crest Management for the the operation and commercial management of chemical tankers.The new joint venture, GSB Tankers, will commence operation on January 1, 2019, managing 18 chemical tankers to start, with the aim of managing 30 vessels within the next two years.The joint venture will operate out of the existing premises of Golden-Agri Stena.

Pic: Port of Antwerp

Borealis to Invest in Port of Antwerp

The Austrian petrochemical company Borealis has announced that it is to build a new production plant on its existing site in Kallo, in the Antwerp port area.According to a press release, the propane dehydrogenation (PDH) plant will use the very latest technology in terms of sustainable production and energy efficiency. With this initiative the port of Antwerp confirms and reinforces its role as the largest chemical cluster in Europe.The intention to build a new PDH plant to convert propane into propylene has been known for some time.

A BW vessel underway. CREDIT BW LPG

BW LPG: Proposal to Combine with Dorian Withdrawn

BW LPG Limited (BW LPG) announced that it has withdrawn its proposal to combine with Dorian LPG Ltd. (Dorian). BW LPG will also withdraw the candidates it previously intended to nominate to stand for election to the Dorian board at Dorian’s 2018 Annual Meeting of Shareholders.BW LPG also announced that the following letter has been sent on October 8, 2018 to the Chairman, President and Chief Executive Officer of Dorian:Mr. John HadjipaterasChairman, President and Chief Executive OfficerDorian LPG Ltd.c/o Dorian LPG (USA) LLC27 Signal RoadStamford…

© christian42 / Adobe Stock

How Refiners Plan to Grapple With Fuel Oil Output After 2020

High-sulphur fuel oil (HSFO), essentially the leftovers of an oil refiner's output, will still flow from refineries around the world even after new rules start up in 2020 curtailing its use in the global shipping fleet, a Reuters survey showed.Sixty percent of the 33 refineries contacted by Reuters in a global survey will still produce HSFO in 2020 although the supply will tighten as 70 percent of these refiners plan to reduce their output.Starting that year, ships will have to use marine fuel…

Richard Greiner, Moore Stephens partner, Shipping and Transport

Moore Stephens: Ship Operating Costs Decline Again

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by 1.3% in 2017. This compares with the 1.1% average fall in costs recorded for 2016. For the third successive year, all categories of expenditure in 2017 were down on those for the previous 12-month period, most notably for insurance costs and stores.The findings are set out in OpCost 2018 (www.opcostonline.com), Moore Stephens’ unique ship operating costs benchmarking tool…

CompactClean BWMS Receives IMO Type Approval

DESMI Ocean Guard A/S has announced that the CompactClean Ballast Water Management System (BWMS) has received International Maritime Organization (IMO) Type Approval according to the revised IMO BWMS code.This approval means that the CompactClean BWMS becomes one of only two systems worldwide approved for installation on vessels also after October 28, 2020.On September 21, 2018 DESMI Ocean Guard’s CompactClean Ballast Water Management System (BWMS) received IMO Type Approval according to the IMO Code for Approval of Ballast Water Management Systems (resolution MEPC.300(72))…

Managing the Switch to Low Sulphur Fuels

There is less than 18 months to go until the International Maritime Organization’s (IMO) global 0.5 per cent sulphur cap comes into force. From the 1st of January 2020, the marine landscape will dramatically change and many questions still remain unanswered. Vessel operators will need to take extra care in the face of this uncertainty as there are a number of issues that will likely require managing when the revised sulphur cap arrives. Amongst these issues comes the increased likelihood of compatibility problems…

Image:  FSL Trust

FSL Trust Pact with Heidmar’s Sigma Pool for Two Vessels

Singapore-based FSL Trust Management (FSLTM), as trustee-manager of First Ship Lease Trust  announced a new pool agreement for the two LR2 vessels, 2006 built and each 109,672 DWT, FSL Piraeus (ex-Torm Margrethe) and FSL Perth (ex-Torm Marie), which have recently returned from their bareboat charters and have now been renamed.The Trust has established a new business relationship with Heidmar as these vessels enter into the Sigma Pool.Heidmar Inc, founded in 1984, is one of the world’s leading commercial tanker operators with a fleet of approximately 80 ships…

Photo: Nauticor

First LNG Bunkering of Fure Vinga in Europe

On May 19, 2018, the new build chemical tanker “Fure Vinga” bunkered LNG for the first time in Europe, receiving 120 tons of LNG in a truck-to-ship operation in the port of Cartagena. In total, 6 trucks of LNG were brought to the Spanish port and transferred to the vessel. “We are glad that the first LNG bunker operation for Fure Vinga in Europe has been completed smoothly, thanks to the cooperation of all parties involved in the bunker operation, including the ship’s crew and port authorities…

Willum Richards, (Photo: Association of Average Adjusters)

Association of Average Adjusters Addresses Claims Lacking Clarity

Insurance market leaders have been urged to apply their policy-reforming zeal to key areas of marine claims lacking clarity – with fishing vessel claims illustrating some of the dilemmas. The call came from Willum Richards, chairman of the Association of Average Adjusters, as he lauded the London market's Joint Hull Committee for its decision to embark on a review of the Institute Time Clauses (Hulls). He wished success to those involved in developing revised hull wordings and…

Pic: Bahri (Saudi Arabia)

Chemical Tankers Market to Grow at a CAGR of 4.5% by 2022

The chemical tankers market is projected to grow from USD 26.63 billion in 2017 to USD 33.11 billion by 2022, at a CAGR of 4.5% between 2017 and 2022, said a research report. The flourishing chemical industry and increasing use of water transportation for transferring chemicals from one place to another across the globe are the major driving factors for the growth of the chemical tankers market, said Report Linker. Chemical tankers market includes revenues earned through shipping of chemicals and related products.

Photo: Triyards Holdings

Triyards Loses Shipbuilding Contract

Cash-strapped shipbuilder Triyards Holdings Limited has received a termination notice for a chemical tanker design and construction deal. The Singapore-based yard group said after Thursday trading hours that its subsidiary Saigon offshore Fabrication and Engineering has received notice of termination for the design and construction of a chemical tanker at a contract value of US$25.5 million. "Pursuant to the Notice, the Buyer will claim for the reimbursement of all sums paid by the Buyer in advance on account of the Contract in an amount of US$5.1 million," said a statement.

Photo: Navig8 Chemical Tankers Inc.

Navig8 Chemical Tankers Still in Red

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 chemical tanker market began to show signs of improvement in the fourth quarter led by stronger demand in the chemical sector and tightening in the MR product tanker market,” said CEO Nicolas Busch. “With our fleet fully delivered, we are…

Niels G. Stolt-Nielsen. Photo: Stolt-Nielsen

Chemical Tankers Face Challenging Year: Stolt-Nielsen

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. We do not anticipate any substantial improvement in the chemical tanker market until 2019 when the orderbook reduces and the supply/demand balance improves," he said. Niels added: "For Stolthaven Terminals…

© Miffynam / Adobe Stock

Tanker Outlook: McQuilling Publishes 2018-2022 Report

In 2017, global ton-mile demand to transport crude and residual fuels increased by 5.4 percent, supported by a 4.9 percent increase in VLCCs (which accounted for 62 percent of the total demand for dirty tankers), according to McQuilling Services’ 2018-2022 Tanker Market Outlook report. Suezmax demand meanwhile accounted for 24 percent of all DPP demand in 2017, 1 percent higher than 2016 due to higher crude exports from the Southern Europe and North Africa load region towards the Asian refinery complex.