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Tankers

Tanker Market Faces Headwinds: Teekay

Pic: Teekay

Average crude tanker spot rates moderately increased during the first quarter of 2019, as some of the positive drivers from late 2018 continued into early 2019, said Teekay Tankers."These included high seasonal oil demand, the impact of winter weather delays, and relatively high global oil production

Teekay Gets $450mln for Shuttle Tanker Fleet

Pic: Teekay

The midstream services provider to the offshore oil production industry Teekay Offshore Partners announced that in accordance with previously noted financing plans, it has secured a new $450 million revolving credit facility for sixteen shuttle tankers.The facility will be used to refinance the existing revolving credit facility dated September 8,

New Arc7 Class Arctic vessel Heads for Yamal LNG Facility

© kenny mcpike / MarineTraffic.com

A new ice-breaking liquefied natural gas (LNG) tanker of the Arc7 class, the Nikolay Yevgenov, is due to arrive this week in Sabetta, the Arctic Russian port of Novatek's Yamal plant, Refinitiv shipping data showed on Monday.The tanker is off the west coast of Ireland at the moment, having left the

Samsung Heavy Orders Pumps from SVANEHØJ

Photo courtesy of Svanehøj Group

SVANEHØJ, which is located in Aalborg, Denmark, has secured an order from South Korean shipbuilder Samsung Heavy Industries for a total of 42 pumps for three new Very Large Ethane Carriers (VLEC). The ships have been ordered by the Chinese company Zhejiang Satellite Petrochemical and will be used to carry liquid ethane from Texas,

Statfjord Loadings Resume After Leak

(Photo: Harald Pettersen / Equinor)

Equinor has resumed crude oil loadings from its Statfjord field in the North Sea following a spill last week, the Norwegian oil and gas company said on Monday.Production from Statfjord remains unaffected, and the offloading of crude is now taking place from an alternative buoy on the field, it added.

Maersk in Sale, Leaseback Pact with ICBC

Image: Maersk Product Tankers

Danish tanker shipping company Maersk Product Tankers has just entered a sale-and-leaseback agreement for four medium range (MR) vessels with the Chinese bank, Industrial and Commercial Bank of China (ICBC).The four ships were built in 2015 and 2016 and will be chartered back to Maersk Product Tankers on ten-year bareboat contracts.

ZEABORN Acquires CPO Tankers

 Pic: ZEABORN

The international law firm Watson Farley & Williams (WFW) advised Bremen-based Breakbulk shipping line Zeaborn Group (ZEABORN) on its acquisition of Claus-Peter Offen Tankschiffreederei (CPO Tankers).ZEABORN acquired CPO Tankschiffreederei from the Offen Group, which specialises in the management of oil and product tankers.

Tanker Rates Firming Up: Frontline

Pic: Frontline Management AS

The middle of the first quarter in 2019 saw tanker rates firming significantly, driven mainly by an increase in US exports, said Frontline Ltd. is the world's largest oil tanker shipping company.The tanker market pulled back in January due to OPEC production cuts and a high level of newbuilding deliveries after a strong end to 2018, it said.

Statfjord Loading Still Shut After Spill -Equinor

(Photo: Harald Pettersen / Equinor)

Equinor has still not identified the source of an oil spill at its Statfjord field in the North Sea, and the loading of crude onto tankers remains shut, the Norwegian company told Reuters on Thursday.The leakage consisted of "small observations" of oil on the surface of the ocean, an Equinor spokesman said.

Russia: Sovcomflot Posts Strong Q1 Profit

Pic: PAO Sovcomflot

Russian maritime shipping company specializing in petroleum and LNG shipping, PAO Sovcomflot (SCF Group) has posted $70.1m in profit for the first quarter ended 31 March 2019.Sergey Frank, President and CEO of PAO Sovcomflot said: “Sovcomflot started 2019 with a strong Q1 performance, boosted

Oil Spill at Statfjord

(Photo: Øyvind Hagen / Equinor)

An unspecified amount of oil was observed on the sea surface early Wednesday morning in connection with loading oil from buoy to shuttle tanker on the North Sea Statfjord field, Equinor announced.The loading operations were stopped when this was discovered, and the loading systems were shut down, the Norwegian energy company said.

World Suezmax Fleet Counts 514 Vessels

Pic: Nordic American Tankers Limited

The world Suezmax fleet (excl. shuttle, product & Jones Act tankers) counts 514 vessels at the end of 1Q2019, said Nordic American Tankers (NAT).The total delivery during 2018 was 28 vessels, said a report by the  international tanker company."For 2019 we expect a similar number of vessels as in 2018,

China's Tariffs on U.S. LNG Mean Nothing, Everything

China's decision to hike import duties on U.S. liquefied natural gas (LNG) is a move that means very little for the market in the short term, but it has the potential to deliver outsized consequences the longer the levies remain in place.As part of its latest round of retaliatory tariffs on U.S. imports,

Navios Maritime Orders VLCC Newbuilding

Pic: Navios Maritime Acquisition Corporation

Navios Maritime Acquisition Corporation said that it has  exercised its option for a third VLCC newbuilding under a bareboat operating lease with an expected delivery in the third quarter of 2021.Navios Acquisition has agreed to the main terms of a 12-year bareboat charter-in agreement with de-escalating

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