ClearOcean Tankers, a newly formed joint venture with equal ownership between Gunvor Group, Oceangold Tankers and Maas Capital, has placed orders for a total of six scrubber-ready tanker newbuilds.
The shipbuilding contract sees four MR2 product tankers being built at STX Offshore & Shipbuilding and two LR2 product tankers at Daehan Shipbuilding; all six of the contracted vessels will be delivered during the first half of 2019.
They will feature eco-friendly designs and be scrubber-ready, in view of the International Maritime Organization’s new standard for lower global sulphur emissions from international shipping that will be implemented in 2020.
Clearlake Shipping, Gunvor’s wholly-owned shipping division, has entered into long-term time charters for the vessels and Oceangold Tankers is also acting as construction supervision and technical manager of the vessels.
“Expanding into vessel ownership and taking advantage of the historically low shipbuilding prices to contract eco-friendly, scrubber-ready newbuilding tankers represented an attractive opportunity,” comments Jan Andersen, Head of Shipping at Clearlake.
“Teaming up with solid partners like Oceangold Tankers and Maas Capital enables us to control more vessels and to de-risk our investment.”
Published date: 24 May, 2018
Lim Teck Cheng, the Executive Chairman of Hong Lam Marine, receives award from Dr Lam Pin Min, Senior Minister of State for Health and Transport.
Managers from EY said the directors ‘breached their fiduciary duties’ by transferring the funds when OTPL was financially troubled, against the interest of creditors.
Firm had already set out long term plans to implement fleet modifications, GHG emission monitoring systems and switching to VLSFO bunker fuel 10 years ago.
1,080 mt of marine gasoil delivered to the aircraft carrier by World Fuel Services truck fleet; operation was structured under NSPA marine fuel supply contract.
Bunkering ramps up after Lunar New Year holiday; regional fuel availability still tight; Singapore demand slows amid rallying prices.
‘The vessel [MT Strovolos] has been wrongly charged with stealing the cargo. It is not and has never at any time been our intention to misappropriate the cargo.’
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.
