The first Iran-built Aframax oil tanker ship is complete and the vessel will be ready soon for delivery to Venezuela.The 113,000 dwt vessel has been built by Iran Marine Industrial Company, an affiliate of Sadra group of companies, and is 250 meters long…
Duplex stainless steel, NSSC®2120 by Nippon Steel & Sumikin Stainless Steel Corporation was recentlly chosen for the construction of two domestic tankers.Sasaki Shipbuilding Co., Ltd. & Hakata Shipbuilding Co., Ltd. became the first shipbuilders…
China Shipping Development and Sinopec Kantons are to spend HK$11.71 billion to buy six LNG carriers, which will be chartered to Sinopec.The two companies have set up a joint venture China Energy Shipping Investment (CESI) which is 51 percent…
StealthGas Inc., has increased the size of its stock offering, & will sell 10-million shares at $10 each using the proceeds towards purchase of 5 ships.The gross proceeds from the offering before the underwriting discount and other offering expenses are $100…
Odfjell buys long-term chartered vessel 'MT Bow Engineer', a 30,086 dwt chemical tanker.Odfjell, a leading company in the global market for transportation and storage of bulk liquid chemicals, acids, edible oils and other special products…
Denmark's TORM agreed to sell five MR product tankers to a company controlled by Oaktree Capital Management as part of an earlier restructuring agreement.The sale is a consequence of the specific option rights, which one bank group exercised in connection with the Restructuring Agreement…
Euronav reports its net loss slipped to US$ 10.7 million in the first three months of 2013, compared with US$ 9.0 million a year earlier.In its Q1 2013 financial report Euronav makes broad observations on the global tanker market as follows…
Wärtsilä to supply cargo handling package, dual-fuel engines & propulsion for Denmark's Evergas to be built at Sinopacific Offshore & Engineering in China.In addition to LNG, the ships will be able to carry and reliquefy Ethane and LPGs with the cargo handling package supplied by Wärtsilä…
Ridgebury Tankers LLC announce a $200 million commitment from Riverstone Holdings LLC, alongside a $5.7 million commitment from Ridgebury management. The Connecticut-based Company will use the capital to acquire clean product carriers of…
Increasingly lower oil demand in the U.S. prompts tankship operators to look towards the China market.According to a BIMCO review, the tanker market is doing full steam ahead – not in relation to demand, earnings or actual operating speed…
Teekay Tankers orders 4 LR2 product tankships from STX Offshore & Shipbuilding with options for 12 more.The agreement is for STX of South Korea to construct four fuel-efficient 113,000 dwt Long Range 2 (LR2) product tanker newbuildings for a fully built-up cost of approximately $47-million each…
Stolt-Nielsen Limited reported unaudited results for the first quarter ended February 28, 2013. Net profit attributable to SNL shareholders in the first quarter was $1.5 million, with revenue of $519.4 million, compared with $18.2 million…
Navios Maritime Acquisition Corp. to acquire 5 MR2 Product Tankers wth options for two more.The company which owns and operates tanker vessels, announce that it agreed to acquire five MR2 product tankers for an aggregate purchase price of approximately $143…
The company is to offer $87 million aggregate amount of common shares to the public to help fund its expansion programme.The Company's Chairman and Chief Executive Officer, Mr. Herbjørn Hansson is expected to purchase about $1.5 million worth…
London-based NYK subsidiary NYK Energy Transport (Atlantic) & GDF Suez time charter the LNG carrier 'Grace Barleiria' for 4 years.Grace Barleiria has been operated by NYK since her delivery in 2007. She has a capacity of 149,700 m3 and is equipped with GTT's Mark III technology…
