Tankers News

Abu Dhabi's Al Seer Marine, a subsidiary of International Holding Company (IHC), has taken delivery of two new Medium Range (MR) tankers, M.T. Saiph and her sister ship from K Shipbuilding Korea.Each vessel is equipped with an Exhaust Gas Cleaning System (EGCS) and engineered to accommodate alternative fuels such as Liquefied Natural Gas (LNG), ammonia, and methanol.With a deadweight of 49,757 MT each, the two modern vessels are IMO II/III oil and chemical tankers carefully engineered…

Twelve Western countries have agreed measures to "disrupt and deter" Russia's so-called shadow fleet of vessels in order to prevent sanctions breaches and increase the cost to Moscow of the war in Ukraine, Estonia's government said on Monday.The measures were agreed by Germany, Britain, Poland, the Netherlands, the five Nordic nations and the three Baltic states, said Estonia, where leaders of the 10-nation Joint Expeditionary Force were due to meet on Tuesday.Western nations…

European Union envoys will discuss a 15th package of sanctions in response to Russia's 2022 invasion of Ukraine, including on tankers carrying Russian oil and Chinese firms involved in making drones for Moscow, EU diplomats said.A total of 29 entities and 54 individuals are lined up to be added to more than 2,200 on the existing sanctions list, which bans travel and freezes their assets within the 27-member bloc, the diplomats said.

Three years after bulk carrier MV Wakashio ran aground on a coral reef off Mauritius, spilling 1000 tons of a new type of marine fuel oil, Curtin University-led research has confirmed the oil is still present in an environmentally sensitive mangrove forest close to Ramsar conservation sites.Lead researcher Dr. Alan Scarlett, from Curtin’s WA Organic and Isotope Geochemistry Center in the School of Earth and Planetary Sciences, said the chemical ‘fingerprint’ of the oil found in…

INTERTANKO’s Council of Members has confirmed that Tim Wilkins is to succeed Katharina Stanzel as Managing Director from January 1, 2025.Stanzel has served as Managing Director since 2012, representing the interests of independent tanker owners worldwide and championing the role and reputation of the tanker industry as a vital and responsible partner in the global energy supply chain. She has been driving collaboration and partnerships between industry stakeholders, advocating for policies that foster sustainable growth…

North Korea has likely received more than 1 million barrels of oil from Russia over an eight-month period this year in breach of U.N. sanctions, according to an analysis of satellite imagery published on Friday by the British-based Open Source Centre and the BBC.North Korean oil tankers have made more than 40 visits to Russia's Far Eastern port of Vostochny since March, the report on the research group Open Source Centre's website said."Dozens of high-resolution satellite images…

Spanish wind propulsion systems supplier bound4blue has secured a major retrofit contract with Maersk Tankers, which includes the installation of 20 eSAIL wind assisted propulsion systems on five tankers.bound4blue’s type approved eSAIL suction sails are to be installed on Maersk's tankers in 2025 and 2026.Maersk identified the eSAIL as a solution of choice in partnership with green technology catalyst Njord, who assessed and evaluated a broad range wind-assisted propulsion systems…

Belgian oil tanker company CMB.Tech says it will focus on the fast growing market in India as it reported third quarter results above market expectations on Thursday, boosted by vessel disposals as it diversifies its fleet.After last year's Euronav-Compagnie Maritime Belge takeover, the group shifted strategy by selling 24 tankers to Frontline and acquiring CMB.Tech's fleet.

Idemitsu Tanker Co., Ltd., IINO Kaiun Kaisha, Ltd. (IINO Lines), Nippon Yusen Kabushiki Kaisha (NYK), and Nihon Shipyard Co., Ltd. announced that the consortium established in early 2024 for the joint research and development of an eco-friendly very large crude oil carrier (VLCC) has produced a design concept for Japan’s first Malacca Max type VLCC to use methanol as alternative fuel.To provide power while sailing, the vessel will be equipped with a shaft generator and the latest dual-fuel main engine that can use methanol and heavy oil as fuel.

Marlink, the managed services provider of business-critical ICT solutions, has secured a deal to supply its Sealink NextGen network solution for Brazil’s biggest crude and product tanker operator Transpetro.The hybrid solution includes Marlink’s global VSAT integrated to the high throughput, low latency Starlink solution together with MSS as back-up, to be installed on 26 Transpetro’s tankers.The installation will include Marlink’s XChange network management platform to enable software-defined application routing…

Liquefied natural gas shipping rates have hit multi-year lows and may extend losses going into 2025, analysts and shipping sources said, with new tankers being added at a faster rate than LNG production is rising and spot demand still tepid.New LNG tankers, built in anticipation of rising U.S. exports after a plunge in Russian gas supplies to Europe in 2022, are coming online earlier than liquefaction projects, which have been delayed amid inflation from strong wage growth and a shortage of skilled labour and equipment.With more ships expected to come…

INTERTANKO is opening its Ports with Challenging Water Quality Database to non-members in a bid to increase understanding of the issues that ballast water management systems are facing.Any shipowner can now contribute to the results by submitting their own reports.The database is designed to support vessels calling at ports that cause ballast water management systems (BWMS) to run sub-optimally due to challenging water quality conditions when taking on ballast.The database is…

Freight rates for tankers exporting oil from Russian ports to Asia have risen this month ahead of winter and are set to climb further after recent Western sanctions hitting more tankers involved in the trade, according to industry data and sources.Russian oil is mostly sold to Asian buyers on a delivered basis, where the price includes transport costs, meaning higher freight rates would weigh on Moscow's revenue from energy sales.Freight rates from the Baltic ports of Primorsk or Ust-Luga to ports in western India have risen and may reach up to $5.5 million this month…

The Maritime and Port Authority of Singapore (MPA) has reported a fire on a Malta-flagged tanker Med Atlantic in the East Johor Straits.The vessel is currently anchored and there is no disruption to vessel traffic in the area, MPA said, adding that all 22 crew had disembarked the vessel and were safe with no injuries.According to the alert MPA received, the fire started an engine room onboard the vessel. An MPA patrol craft, two Police Coast Guard craft, three Singapore Civil Defence Force (SCDF) marine firefighting and rescue vessels…

Nordic American Tankers (NAT) announced it has secured a five-year time charter contract for one of its vessels.The NYSE-listed company did not disclose the names of the vessel and charterer, but said the contract was with a "major international energy company". The contract is expected to commence in November 2024.The charter rate is in the mid to high $30,000s, NAT said.

Ships carrying Russian liquefied natural gas (LNG) to Asia are returning to the longer routes around Africa's Cape of Good Hope rather than those along the Arctic shore as the winter season begins, LSEG data showed on Thursday.Russia's new Arctic LNG 2 project also lacks enough ice-class gas carriers to continue navigation along the Northern Sea Route, although some such tankers still sail it.According to LSEG data, the conventional gas tanker LNG Megrez loaded at Yamal LNG plant on Oct. 2 and started its voyage around Africa to Asia with arrival set for Nov.

Bahri, the National Shipping Company of Saudi Arabia signed a Murabaha Financing Agreement with Alinma Bank to secure financing to support its fleet modernization program.Under the terms of the facility agreement, Alinma Bank will extend a credit facility worth $756 million to partially finance the purchase of nine Very large Crude Carriers (VLCCs).

“During the first nine months of 2024, seaborne shipments of jet fuel increased 11% over 2023," said Niels Rasmussen, Chief Shipping Analyst at BIMCO. "Shipments were equivalent to 461 million barrels or 1.7 million barrels per day (mbpd). At the same time, airline passenger traffic measured in Available Seat Kilometres (ASK) exceeded 2019 levels for the first time since COVID,”Airline cargo traffic recovered quickly after the COVID pandemic hit in 2020 and has since remained mostly within +/-10% of 2019 levels.

An oil tanker caught fire off the Baltic Sea coast of northern Germany early on Friday, and all seven crew members on board at the time were taken ashore, maritime rescue services said in a statement.Three vessels have been deployed to the burning tanker Annika in the Mecklenburg Bay to extinguish the blaze, with several firefighting teams also en route to the site via helicopters, according to the statement.The Germany-flagged, 73-metre-long tanker is carrying around 640 tonnes of oil, it added.

The United States expanded sanctions against Iran's petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said.The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran's economy with the aim of denying the government funds to support its nuclear and missile programs."The new designations today also include measures against the 'Ghost Fleet' that carries Iran’s illicit oil to buyers around the world…

A project assessing the technical feasibility of onboard carbon capture and storage (CCS) has concluded that the technology has the potential to reduce a tanker’s CO2 emissions by as much as 20% per year, with a fuel consumption penalty of just under 10%.The project, Realising Maritime Carbon Capture to Demonstrate the Ability to Lower Emissions (REMARCCABLE), was carried out by the Oil and Gas Climate Initiative (OGCI), the Global Centre for Maritime Decarbonisation (GCMD) and Stena Bulk together with ABS…

A Liberia-flagged tanker was struck by an unidentified projectile in the Red Sea causing minor damage, but no casualties, British maritime security agencies said on Thursday.The incident occurred about 73 nautical miles (135 kilometres) southwest of the Yemeni port of Hodeidah, security firm Ambrey said.The United Kingdom Maritime Trade Operations agency (UKMTO) said separately that it had received a report of an incident in the same area, adding authorities are investigating.The chemical/products tanker, en route from Saudi Arabia's Jeddah to Muscat in Oman was struck on its starboard side.

VesselsValue has released its Q4 2024 Market Outlook indicating a forecast period up to 2027 which suggests a mixed outlook across different vessel types.The company anticipates that orders for bulkers and tankers will gain momentum, while demand for containers and LNG/LPG vessels will decline. Despite the expected rise in bulker and tanker orders, the overall orderbook will likely shrink due to a surge in deliveries for container and gas vessels.Geopolitical tensions, such as the Houthi attacks in the Bab Al Mandeb Strait, are creating both risks and opportunities for shipping.