Maran Tankers Ventures Into Shuttle Tankers With $390M Investment

• Maran Tankers the owner of the Tanker of the Year, is set to invest $390 million in a newbuilding project for three Suezmax shuttle carriers.
• Charters secured from Petrobras open new trade opportunities in the shuttle tanker sector.
• Chevron Shipping undergoes a leadership transition as Mark Ross retires after 33 years, with Barbara Pickering, a Liverpool University maritime studies graduate, taking over as the new president effective May 1, 2024.

Maran Tankers Enters Shuttle Tanker Sector

Greek owner Maran Tankers is expanding its ventures by investing $390 million in a newbuilding project with DH Shipbuilding in South Korea. The project involves constructing three Suezmax shuttle carriers set for delivery from 2027. Charters for these vessels have been secured from Brazilian energy giant Petrobras for a 10-year duration, with the option to extend for another five years. This move marks a strategic entry into the growing shuttle tanker industry for Maran Tankers.

Chevron Shipping’s Leadership Transition

After 33 years of dedicated service, Chevron Shipping President Mark Ross will retire, effective May 1, 2024. Barbara Pickering, the current vice president of operations and a maritime studies graduate from Liverpool University, will succeed him as president. Pickering, with a career spanning the UK, Australia, and the United States, currently serves as a vice chairperson of OCIMF.

Attacks on Russian Refineries

Recent incidents involve Ukrainian drone attacks on the Baltic Sea Ust-Luga refinery and port, leading to operational suspensions. Another attack targeted a Rosneft-owned oil refinery in southern Russia. These events highlight the vulnerability of Russian energy infrastructure to geopolitical tensions.

Windward’s Advanced Tanker Research Tool

Windward introduces Sequence Search, a cutting-edge capability for advanced analysis of vessel behavior and trade movements. In a complex trade environment with sanctions and deceptive shipping practices, this tool provides enhanced visibility, business intelligence, and contextual understanding.

Bahri Chemicals in Timecharter with Proman

Proman and Bahri Chemicals collaborate on a timecharter agreement for Stena Provident and Stena Progressive, two methanol-powered IMOIIMeMAX tankers. The partnership aims to promote methanol as a cleaner marine fuel, contributing to emissions reduction in the maritime industry.

Tanker Orders Increase for George Procopiou

Greek owner George Procopiou expands his LR1 product carriers fleet with an undisclosed order for six vessels from New Times Shipbuilding, China. Procopiou’s preference for conventionally fueled engines aligns with a growing trend among Greek owners.

Poten & Partners’ Projections for VLCC Orders

Poten & Partners anticipates a significant increase in VLCC (Very Large Crude Carrier) newbuilding orders in 2024. The economic advantages of VLCCs for long-distance crude oil transport, coupled with the recovery of rates in 2023, lead major owners to recognize the need for additional VLCC deliveries.

Chemfleet’s Energy-Efficiency Upgrade

Chemfleet, a specialized tanker manager, reports a 10% fuel savings from an in-service Berg Propulsion upgrade on the tanker YM Miranda. Successful trials prompt the upgrade of three additional sister ships with Berg’s Dynamic Drive Software, showcasing commitment to fuel efficiency.

Concordia Maritime’s Delisting Approval

Concordia Maritime AB’s* request for delisting its class B shares receives approval from Nasdaq Stockholm, marking a significant corporate action. The last day for trading Concordia Maritime’s class B shares on Nasdaq Stockholm is set for February 6, 2024.

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe

Source: Riviera

• 
• 
• 
• 
• 
• 
• 
•