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Supertankers

Oil-Tanker Cancellations

According to an April 15 report from Bloomberg, Frontline Ltd. said that a plunge in supertanker rates to their lowest in at least 11 years will likely spur owners to scrap ships and cancel orders for new ones. Supertankers are making $4,335 a day after fuel costs for delivering Middle East crude to Asia and the U.S., according to data from the London-based Baltic Exchange. (Source: Bloomberg)


MSCO Completes Modernization of Natali Supertanker

Murmansk Shipping Company (MSCO) has completed modernizing the Natali supertanker, Interfax Russia reported. The China State Shipbuilding Corporation modernized the tanker over a six-month period. The tanker currently meets the requirements of the international convention to prevent marine pollution. Murmansk Sea Shipping operates the state nuclear icebreaker fleet under a trustee agreement for the management of state property


Administration Calls for Prompt Creation of Department of Homeland Security

Citing, among other things, the explosion on the French supertanker LIMBURG in waters of Yemen, the White House issued Remarks of Homeland Security Director Tom Ridge and other Administration officials calling on Congress to promptly enact legislation to establish the Department of Homeland Security. Source: HK Law


Canadian Coastguard Ousts Supertanker From Its Waters

The Canadian Coastguard has banned a damaged 24-year-old supertanker, Eastern Power, from entering its waters, saying the onus is on its owner, Singapore-based World-Wide Shipping, to prove that it poses no pollution threat. "To us it's a seaworthy vessel outside our waters with a slight leak, and until her owners can demonstrate that it is no threat to Canadian waters we are denying access," said a Canadian coastguard owner Transport Canada official, adding that the ship was carrying 1


Single-Hull Tanker Traffic to Saudi Ports Dwindles

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 of single-hull tankers will become more restricted next year under International Maritime Organization regulations. The vessels will require inspections to prove their seaworthiness. (Source: www.gulfnews.com)


Supertankers’ Longest Stretch of Unprofitability

According to an Oct. 24 report from Bloomberg, supertanker owners are facing the longest stretch of unprofitable rates in 17 years as the supply of new vessels increases nine times faster than demand for oil. Shipping companies are making $3,155 a day for a single voyage, 90% below the $30,900 Frontline Ltd., one of the biggest operators, said it needs to break even. According to the report, Morgan Stanley estimates the tanker fleet will expand almost 13% next year and the International Energy


CG Medevac Man

A Coast Guard helicopter crew rescued a 21-year-old crewman suffering from severe abdominal pain aboard a supertanker 120 miles south of New Orleans this morning. The Coast Guard was notified at 8:45 a.m. by the tanker Sulphur Enterprise that a crewman was experiencing severe abdominal pain. A helicopter from Air Station New Orleans was dispatched to the scene where the crew lowered a rescue swimmer and basket to the tanker


UAE Says Japanese Oil Tanker Attacked by Terrorists

According to a report from the Christian Science Monitor, Japanese oil tanker M. Star was subject last month to a terrorist attack, UAE inspectors said on Friday, August 6, raising fears of a new campaign targeting global oil interests. The M. Star, a 1,082-ft supertanker, was shaken by what appeared to be an explosion shortly after midnight on July 28 as it passed through the Strait of Hormuz, a narrow channel of water separating Iran and Oman


Tankship Freight Rates in Swift Freefall

Photo in public domain

The biggest slump in tanker rates since January is signaling weaker U.S. oil imports, and is causing a 15-year low in the shares of one major crude-oil tankship operatore, reports Bloomberg. Rates for the biggest crude carriers tumbled 68 percent in the past two weeks, more than reversing their advance since the end of June, says Bloomberg, citing Clarkson Plc, although earnings had risen after oil cargoes to the U.S


China's Unipec Books Megatanker to Store Crude

Chinese oil trader Unipec has booked one of the world's largest ships to store crude off Singapore, trade sources said on Monday, hiring a 3.2 million barrel capacity supertanker to hold the oil at sea until prices recover. The TI Europe is one of just a handful of Ultra Large Crude Carries (ULCC), a category of vessel that is capable of carrying more than 3 percent of daily global world oil demand. International benchmark Brent crude prices fell below $100 a barrel on Monday for the


Marseilles Targets Mega-cruise Repair Market

Renovation work underway at Drydock 10, Marseilles

The Marseilles Fos port authority said it is targeting mid-2015 to complete the €28 million renovation of its giant drydock 10 to provide a strategically located base for cruise ship repair and maintenance. At 465 meters long and 85 metrs wide - the third biggest in the world after Lisbon


UK's Hound Point VLCC Jetty Down Until Sept. 15

The supertanker jetty at the North Sea's Hound Point crude oil terminal is shut for maintenance and will not reopen until Sept. 15, operator BP Plc said on Thursday, making sending excess cargoes to Asia more difficult for traders. The Hound Point jetty has two berths


PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data. Venezuela will start importing light crude this month with a shipment of Algerian Saharan Blend scheduled to arrive at its


Venezuela Ships First Crude Mixed with Algerian Oil to China

Venezuela is sending its first shipment of crude mixed with Algerian light oil to China, according to state oil company PDVSA and traders.   Venezuela recently started importing Saharan Blend from Algerian state-run Sonatrach to dilute its extra heavy crude from the Orinoco oil belt


Deepest Draft Ever Tankship Calls at POLB

British Pride on Left: Photo credit BP Shipping

 BP's 'British Pride' made Port of Long Beach history as it came alongside with a draft of 65 ft. The Port says that the British Pride’s call exemplifies the its dedication to long-range strategies that will help it stay ahead of the maritime industry’s dynamic business needs


AdvanFort President Addresses Ransom and Piracy

AdvanFort President and COO William H. Watson (Photo: AdvanFort)

"The revelation this week that the owner of an Algerian cargo ship whose crew was held by Somali pirates paid them $2.6 million in ransom is yet another indication that the rewards these denizens reap for their illegal, life-threatening work remain a serious stumbling block to ending maritime


Sanctions Force Iran to Increase Tanker Fleet

With Western Sanctions increasingly tightening on Iran, the country has taken delivery of several new oil tankers as it must rely on its own fleet capacity to help sustain crude export shipments, Reuters reported. Sanctions by the U.S. and Europe have severely reduced Iran’s oil Exports


Task Force Brings Somali Pirate Tankship Attackers to Book

Pirate skiff destroyed: Photo credit ABIS Jayson Tufrey, Commonwealth of Australia

The Combined Maritime Forces operation was co-ordinated from the British Royal Fleet Auxiliary vessel 'Fort Victoria' with support from Australian ship HMAS Melbourne, South Korean destroyer ROKS Wang Geon, European Union flagship HNLMS Johan de Witt and a Seychelles-based maritime patrol aircraft


AAIB Granted License to Operate in Somalia

William Wakeham

Regional insurance brokerage and risk management company AAIB first to be granted license to operate in Somalia as economic opportunities drive demand. Regional specialist in broking, risk management and consultancy Anglo Arab Insurance Brokers (AAIB), has broadened its footprint


Marine Cybersecurity: Is Your Ship Safe? Are You Sure?

There is a growing threat to marine safety, security, and environmental protection from the over-reliance on electronics to accomplish operational tasks.

On February 12, 2013, President Obama issued Executive Order 13636 – Improving Critical Infrastructure Cybersecurity.  Citing repeated electronic intrusions into critical infrastructure, the document states that it is the policy of the United States Government to increase the volume


Iran's Oil Exports Pick Up

By Jonathan Saul, Reuters Iran's oil tanker fleet is gearing up for more business, with some vessels taking to the high seas after over more than a year at home ports, another sign that an easing in Western sanctions is enabling exports to begin to pick up.


Brent Slips Below $109 as Severe Winter Eases

By Manash Goswami, Reuters Brent crude futures slipped on Friday below $109 a barrel on expectations demand growth will slow as severe winter weather eases, with supply worries keeping the losses in check for now. A severe winter chill in the United States and Europe and supply disruption


Iran's Oil Exports Surge above Sanctions

Iran's crude oil exports have surged to their highest in 20 months, far exceeding a 1 million barrel-per-day limit set by the West under an interim deal on curbing Tehran's nuclear program. The International Energy Agency's monthly report revised February's global crude imports from Iran


Increase In SE Asia Cargo Thefts - Dryad Maritime's Warning

Dryad Ian Millen

The latest report of a tanker hijack in Southeast Asia has prompted Dryad Maritime to issue an advisory to its shipping clients, on the basis that the crime follows a pattern, which has seen up to six such attacks, over the last nine months. The industry leading maritime operations company that


Maersk Continues Exit from Crude Transport

(Photo : Maersk)

Maersk Tankers, a unit of A.P. Moller-Maersk, said on Thursday it had quit four unprofitable crude oil charter contracts by buying out supertankers and selling them onwards, continuing its exit from crude oil transportation. The company now has charters for just two supertankers






 
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