Tag: VLCC
Japanese Consortium Unveils Design For Eco-Friendly VLCC Powered By Methanol
Japan’s New Eco-Friendly Ship Design Promises Cleaner Shipping Idemitsu Tanker, IINO Lines, NYK, and Nihon Shipyard have teamed up to create an eco-friendly oil carrier that aims to make ocean shipping cleaner. This large crude oil carrier, called a VLCC (Very Large Crude Carrier), is being designed to use methanol as a fuel instead of…
S&P markets offering asset players ‘mouth-watering’ returns
This year might see a record in ships changing hands, with owners paying huge sums for secondhand vessels. Dry bulk carrier sales reached 37m dwt in the first seven months, nearing the 2021 record of 60.9m dwt for the entire year, according to Clarksons Research. Ship Recycling Needs to Pick Up for Shipping to Lower…
BV, Hanwha Ocean, and Naftomar collaborate to develop vessels with an ammonia fuel prepared design
Bureau Veritas (BV), a world leader in testing, inspection and certification, has partnered with Hanwha Ocean, a leading global shipbuilding company, and Naftomar, a prominent maritime logistics provider, to develop vessels with an ammonia fuel prepared design. The joint development project (JDP) agreement was signed by Jong Seo Kim, President of Hanwha Ocean Co., Ltd, Talal Zein,…
LR and Guangzhou Shipyard International partner for 4th generation VLCC design project
Lloyd’s Register (LR) and Guangzhou Shipyard International (GSI) have signed a joint development project for a 4th generation Very Large Crude Carrier (VLCC), marking a significant step for the China-State Shipbuilding-Corporation (CSSC)-owned shipyard development of oil tankers. The design will feature one longitudinal bulkhead instead of the traditional two. This has the benefit of reducing…
NYK Begins First Long-Term Biofuel Test Run on Large Crude Oil Tanker
Nippon Yusen Kabushiki Kaisha (NYK) has initiated a long-term biofuel test on its very large crude oil tanker (VLCC) Tenjun. The vessel, which first received biofuel in Singapore, will use this fuel for approximately three months. This trial aims to thoroughly verify the safe and stable procurement of biofuel for extended use. While NYK has…
World’s First Methanol-Fuelled Engine Ordered for VLCC Segment
China Merchants Energy Shipping (CMES), the Shanghai-listed shipping giant and daughter company of China Merchants Heavy Industry (CMHI), has ordered an MAN B&W 7G80ME-LGIM (-Liquid Gas Injection Methanol) main engine in connection with the construction of a VLCC (Very Large Crude Carrier). The first such dual-fuel methanol order for the ship type, Dalian Shipbuilding Industry…
VLCC Tonne days growth from AG to China has decreased to the lowest level since the end of 2022
During the first week of October, the VLCC MEG China rates experienced a downward revision, amid hopes of a recovery. Looking at the demand, growth rates are still significantly lower than what they were the previous year leading to a negative sentiment in the crude freight market. Moreover, there are concerns about oil demand as…
Antonis I. Angelicoussis – First dual fuel VLCC certified by Green Award
LNG dual fuel powered very large crude carrier (VLCC) Antonis I. Angelicoussis is now certified by the Green Award Foundation. The Greek-flagged ship is the first LNG dual fuel VLCC to join the Green Award programme. The certification includes the Green Award greenhouse gas labels CO2 (level 1) and CH4. The 330-meter-long and 60-meter-wide tanker,…
Continued downward pressure with a significant decline in VLCC demand growth rates
The second week of September maintains its grip on the crude oil freight market’s sentiments, as VLCC rates have yet to display the anticipated rebound. The struggle persists in the VLCC MEG-China rates, leaving industry observers closely monitoring the demand dynamics of the Chinese economy as we approach the end of September. Illustrated in the…
ABS, GTT and DHT Sign JDP to Develop an Optimized LNG-Fueled VLCC Design
(SINGAPORE) ABS, Gaztransport & Technigaz (GTT) and DHT Holdings, Inc. signed a joint development project (JDP) at Gastech 2023 to optimize a new, very large crude carrier (VLCC) with liquified natural gas (LNG) propulsion that meets Class and statutory requirements. The dual fuel vessel promises to provide flexibility for operations…
