KCC Names MV Barracuda
Norway-based shipowner Klaveness Combination Carriers (KCC) has named its second CLEANBU vessel, MV Barracuda, after it completed a first switch between dry cargo and a cargo of clean petroleum products (CPP).MV Barracuda was named at anchorage outside Singapore by Ms. Su Yin Anand, head of Legal at South32 Marketing Singapore, one of KCC’s largest customers.As all the other CLEANBU vessels, MV Barracuda was named after a “sea creature” to show KCC’s commitment to clean oceans…
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.
Texas A&M Galveston Degrees Lead Six Aggies to BP Shipping
Jenny Long was an Aggie with a challenge. She had an important job opening to fill with her company, BP Shipping Americas, located in Chicago. As the regional voyage operations superintendent for BP Shipping, it is her job to fill it with the best and most qualified candidates. Long graduated from Texas A&M University at Galveston with a Marine Transportation degree and a minor in Maritime Administration.So, when she has an open position, one of the first places she contacts is her alma mater, Texas A&M Galveston. “BP Shipping has an open and fair hiring process” says Long.
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.
Demand for Chemical Tanker Fleet Looks Up
Demand for methanol and vegoil will moderately support global seaborne trade causing the shipping fleet trading in chemicals and vegoils to expand, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. A press release from Drewry said that the orderbook contains 144 stainless steel vessels totalling 3.4 mdwt for delivery by 2020, almost 22% of the existing capacity for such vessels; 63 of these vessels are in the size range of 25…
GAC, Valero Ink Terminal & Marine Services Deal
GAC UK has signed a three-year terminal and marine services deal with Valero Logistics UK Ltd. Under the agreement, from 1 February 2017, GAC UK will manage and support the discharge of 12-14MT of clean petroleum products each from up to 180 tankers a year at the ports of Cardiff and Plymouth. On 1 April, its raft of jetty operation services for the energy giant will be extended to include Avonmouth. GAC UK will provide a range of terminal services including secure and safe manning of berths, ship/shore safety checks and connecting shore cargo lines to vessels’ manifolds.
AET Buys Paramount Tankers
American Eagle Tankers (AET), a subsidiary of Malaysian shipping line MISC Bhd, said that it will acquire all the remaining shares of Paramount Tankers, making the latter its wholly owned subsidiary. AET will acquire Golden Energy Tanker Holdings’ 50% stake in Paramount Tankers, a joint venture between the two companies that owns and operates six aframax vessels. AET did not disclose the value of the deal, which is expected to be completed by September this year. AET President & CEO…
Changes in Asian Refining Bodes Well for Product Tankers: Poten and Partners
Refining capacity in Asia has been growing rapidly for many years. Not surprisingly, the vast majority of this growth took place in China, which more than doubled its refining capacity over the last 10 years. The other significant growth engine in Asia has been India. However, the impact of these two refining powerhouses on the product tanker market has (so far) been very different. While a significant portion of India’s new refining output has been exported into world markets…
Shipping Confidence at Highest Level Since 2008
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. Freight rates look set to improve or maintain existing levels over the next twelve months, while an increase in private equity funding is expected to have a major impact on the industry. In February 2014, the average confidence…
Tankship Ocean Transportation Demand: Forecasting Essentials
Marine transport advisors, McQuilling Services, give an insight into how they forecast the development of tanker demand, which is a constituent part of their recently published '2014-2018 Tanker Market Outlook' report. At a global level, marine transportation demand is related to world trade, which is directly related to the state of the world economy. This means that demand for crude oil and petroleum products grows with an expanding global economy. Marine transportation demand for tankers is a derived demand. It arises from the energy consumption requirements of regional economies.
Second Aframax Tanker Delivered to Gulf Energy Maritime
Gulf Energy Maritime (GEM) continues to expand its fleet, with the delivery of Gulf Valour, its second Aframax vessel. After two months since the delivery of Gulf Vision, its first Aframax vessel, GEM received Gulf Valour, which was also built by Samsung Heavy Industries. Standard Chartered arranged a Korean Export Credit Agency (ECA) to back the vessel’s financing. The delivery of GEM’s second Aframax vessel reflects GEM’s leadership of responding to the market’s requirement as the industry gradually improves from the impact of the global financial crisis.
Saudi Owners Receive New Chemical Tanker
National Chemical Carriers receive new chemical tanker 'NCC Najeem' from the SHINAsb Shipyard in S. Korea. National Chemical Carriers Ltd. Co. (NCC) of Saudi Arabia, a subsidiary of The National Shipping Company of Saudi Arabia (BAHRI) announce it has received in Korea a new chemical tanker named "NCC Najem" from SHINAsb (previously SLS) of South Korea, as part of nine vessels previously contracted by NCC from this yard during 2006 - 2007. The vessel will be commercially operated by "NCC ODFJELL Chemical Tankers JLT"…
PUBLIC TENDER N° TR31028395
According to article 3, second paragraph of the Chilean Merchant Marine Development Law (Ley de Fomento a la Marina Mercante – Decree Law N° 3.059 of 1979), and articles 6 and next of its Regulation (Decree Nº 237 of 2000 of the Ministry of Transport and Telecommunications), EMPRESA NACIONAL DEL PETRÓLEO, on behalf of its subsidiary, Enap Refinerías S.A., calls for tenders to provide “TIME CHARTER SERVICE OF A TANKER VESSEL BETWEEN 40.000 AND 55.000 M3 FOR CLEAN PETROLEUM PRODUCTS”…