Looking Back at a Real Supertanker, the ULCC Chevron South America

chevron south america ulcc jurong shipyard drydock

-+*The largest Ultra Large Crude Carrier (ULCC) ever to visit Singapore, the Chevron South America, sits in Jurong Shipyard in Singapore in this July 23, 1996 file photo via Reuters. Chinese trader Unipec has sold 2 million barrels of crude held for months on one of the world’s largest tankers, industry sources said, as rising […]

Singapore Condemns Tanker Shooting Incident Off Iran

-+*The Maritime and Port Authority of Singapore (MPA) has expressed “deep concern” with the alleged shooting incident involving the Singapore-flagged tanker “Alpine Eternity” last week in the Strait of Hormuz. The MPA notes that “such interference with navigational rights is a serious violation of international law” and called for an investigation by Iranian authorities into […]

What’s the best color to paint a ship? The answer might surprise you!

-+*In his well reviewed 2007 book The Tankship Tromedy, Former MIT Naval Architecture professor and ship owner Jack Devanney has strong opinions on the best color to paint tankers: white! The most effective way of controlling deck dribs and drabs is simple: white decks and topsides. Most tanker owners paint their decks a dark color, […]

Tanker Owner TORM Posts First Profit in Five Years

-+*Danish product tanker owner TORM has posted its first quarterly net profit in five years helped by lower oil prices and higher refinery margins. In the first quarter of 2015, TORM realized a positive EBITDA of US$53 million and a profit before tax of US $9 million. TORM’s largest segment, MRs, achieved spot rates of US$25,275 […]

OSG Planning $100 Million NYSE Return – Reports

Photo: OSG

-+*Overseas Shipholding Group, one of the world’s largest tanker operators, is planning a return to the New York Stock Exchange less than a year after exiting Chapter 11 bankruptcy, according to reports. On Monday, the company filed with the SEC plans to raise up to $100 million in an initial public offering. The news was […]

Oman to Operate Floating Crude Oil Storage Vessel

fso asia

-+* Oman Tank Terminal Company (OTTCO) plans to start operating a floating storage unit later this year to ease trade of crude oil futures on the Dubai Mercantile Exchange (DME), trade sources said on Tuesday.