Tsakos Energy Navigation signed a cooperation agreement with China Classification Society (CCS) to jointly develop shipping and energy related projectsin China. CCS was established in 1956, is one of the ten full members of the International…
South Korea will ban, according to a Yonhap report, all single-hull tanker operations starting in 2011. The news agency reported that the Ministry of Land, Transport and Maritime Affairs said that all locally registered single-hull tankers with a deadweight tonnage of 5…
The fleet of tankers operated by the U.S. Navy's Military Sealift Command is being reconfigured to meet fuel requirements in support of U.S. forces worldwide. This seagoing force of government-owned and U.S.-flagged chartered ships is acquiring a new chartered ship…
Stolt-Nielsen S.A. (Oslo Børs: SNI) said its wholly owned subsidiary Stolt Tankers B.V. received a full refund of $84.5 million plus accrued interest, as part of an early termination agreement with SLS Shipbuilding Co. Ltd. (SLS) of South Korea to cancel newbuilding contracts for two 43…
Tsakos Energy Navigation Limited announced the delivery and charter of the 105,000 dwt DNA-Aframax tanker Uraga Princess from Sumitomo Heavy Industries in Japan, the final newbuilding in a series of eight ordered in 2004. Upon delivery, the…
Mitsubishi Heavy Industries, Ltd. (MHI) completed development related to floating production, storage and offloading units for liquefied natural gas (LNG-FPSO), and has obtained two kinds of approval in principle (AIP) from major international ship classification societies…
According to an April 8 report from Pakistan’s Daily Times, the residents of the federal capital are buying water from tankers of Capital Development Authority (CDA) to meet their water needs. (Source: Daily Times, Pakistan)
A report published by Fairplay shows new orders for liquid petroleum gas (LPG) fleet tankers currently stand at 191 to the end of 2013, which is 50 percent less than the previous five years or 40 percent if measured in cubic metres (m3) “The…
According to a Feb. 8 report from Bloomberg, Tanker companies including General Maritime Corp. and Tsakos Energy Navigation Ltd. may expand their fleets after the recession sent ship costs to five-year lows last year. Prices for five-year-old very-large crude carriers…
Brightoil Petroleum (Holdings) Limited, one of the largest service providers of marine bunkering in China, announced that the Group has taken delivery of its first ocean-going oil tanker in Singapore purchased in November 2009 for the consideration of $52…
According to a Dec. 28 report from Bloomberg, a 26-mile-long line of idled oil tankers, enough to blockade the English Channel, may signal a 25 percent slump in freight rates next year. Traders booked a record number of ships for storage this year…
A Dec. 25, 2009 report from Gulf News, said the number of single-hull supertankers bound for Saudi Arabia, the world's biggest oil-producer, fell 50 percent over the past month, according to ship-tracking data compiled by Bloomberg. Trading…
Omega Navigation Enterprises, Inc. (NASDAQ:ONAV, SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced that it has formed an equal partnership (50/50) joint venture company with Topley Corporation…
According to a Dec. 17 report from the Nigerian website, www.punchng.com, the cost of delivering Middle East crude to Asia, the world‘s busiest route for supertankers, rose to an 11-month high because of reduced supply of vessels for hire. Charter rates for very large crude carriers…
According to a report from Petroleum News, Provision in a Coast Guard bill would extend dual escorts even to ships with double hulls. Similar legislation pending in the Senate. Federal legislation authorizing Coast Guard appropriations for 2010…
