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. 

The Port of Corpus Christi Commission has approved a 50-year-long- lease agreement with Lone Star Ports, LLC, a joint venture between the Carlyle Group and the Berry Group, to develop a  petroleum export terminal.

Petrobras and Açu Petróleo, have signed a contract to carry out ship to ship operations at the company's Petroleum Terminal (T-OIL), located in the complex of Port of Açu.

The very large crude carrier (VLCC) Brightoil GEM had been arrested by China’s Haikou Maritime Court at the request of the vessel owner’s creditor bank.

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