Maran Tankers Management (MTM), a shipping company privately owned by John Angelicoussis, placed an order today for four new Very Large Crude Carriers (VLCCs) from Daewoo Shipbuilding and Marine Engineering.
The ships are all 319,000 ton deadweight and come at an aggregate cost of $400 million. Final deliveries are planned for September 2016.
According to research from Poten & Partners, 20 new VLCCs are scheduled to be delivered from shipyards between now and the end of the year, adding to the roughly 10 which have so far been delivered.
With few ships scheduled to be delivered over the next year, Angelicoussis is hoping that increased crude demand coupled with an incremental phase out of older tonnage will help to tighten the VLCC market which has been hit be unsustainably low rates over the past few years.
By Malte Humpert (gCaptain) – Just days after securing funding in the FY 2025 budget to acquire a commercial icebreaker, the U.S. Coast Guard says it has made little headway...
SYDNEY, March 21 (Reuters) – Fiji will strike a deal with Australia to upgrade ports and shipbuilding infrastructure, months after its prime minister said it was likely to partner with China on the...
(Bloomberg) — Ukraine’s fight against Russia’s invasion has entered a new phase, pitting homegrown drone technology against a 2,000 kilometer (1,200 mile) swathe of largely Soviet-era oil facilities. At least...
March 20, 2024
Total Views: 13654
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.