Bahri has signed a Memorandum of Understanding (MoU) to build its first VLCC at the International Maritime Industries yard in Saudi Arabia.

Oman Shipping Company (OSC) has ordered three very large crude carriers (VLCCs) from Daewoo Shipbuilding and Marine Engineering (DSME).

John Fredriksen’s Frontline has boosted its tanker fleet with an acquisition of a VLCC resale and an order for two LR2 ships.

Kuwait Oil Tanker Co (KOTC) has renewed a three year deal with Lukoil Marine Lubricants covering its fleet of 24 vessels.

Lloyd’s Register has awarded approval in principle (AiP) to a Hyundai Heavy Industries ‘eco tanker’ design for a VLCC capable of combining volatile organic compounds (VOC) recovered from the cargo tank and LNG in a dual-fuel system, with the addition of Norsepower’s rotor sail solution for wind-assisted propulsion.

Alternative investment firm Vӓrde Partners and a subsidiary of Chinese industrial company Landbridge Group have concluded a sale and lease back deal on a VLCC.

Hit by losses from cancelled containership and bulk carrier charter contracts K Line reported a massive JPY111.1bn ($1bn) loss for FY18, end 31 March 2019.

Mitsui OSK Lines (MOL) returned to the black in FY2018, ended 31 March 2019, and is forecasting a better year ahead.

The VLOC Stellar Daisy, which sank in March 2017 with the loss of 22 lives, suffered catastrophic structural failure according to a report by the flag-state Marshall Islands, with classification society Korean Register defending its position in relation to analysis and reporting on earlier damage to a bulkhead.

Cosco Shipping Energy Transportation has jointly launched a project with Dalian Shipbuilding Industry (DSIC) to develop the world’s first LNG dual-fuel VLCC. 

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