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.