Oil Tanker

Sinking orders for China's shipyards

China's shipbuilding industry is heading for its worst year for new orders won in the decade or so since the mainland shipping boom began, according to industry figures.

Tuesday, 24 July, 2012, 12:00am

Nan Fung mulls options after Sanko debacle

Nan Fung Shipping is mulling its options over two massive oil tankers it owns and has on charter to Sanko Steamship, Japan's fourth-largest shipping company which filed for bankruptcy protection on July 2.

8 May 2015 - 10:49am

Anglo-Eastern and Teekay join forces

Hong Kong's Anglo-Eastern Ship Management has formed a strategic partnership with global tanker operator Teekay to pave the way for the creation of a joint ship management firm overseeing part of Teekay's fleet.

29 May 2012 - 12:00am

Efficiency driving shipping rents as fuel costs rise

Shipping lines could see a two-tier market emerge for their vessels as a result of soaring fuel prices and the introduction of more fuel-efficient ships, the head of Hong Kong's largest ship-management company said.

24 Mar 2012 - 12:00am

Lender suffers big loss in supertanker finance deal

One of South Korea's largest banks has been left more than US$40 million out of pocket after financing a massive supertanker that only fetched a fraction of the purchase price when it was auctioned off on court orders.

6 Mar 2012 - 12:00am

Seized tanker sold for US$29m

Samho Dream, a supertanker under arrest in Hong Kong since October for non-payment of a bank loan, has been sold at auction for US$29 million, a fraction of the US$137.5 million the distressed South Korean owner paid for the ship in 2008.

20 Jan 2012 - 12:00am

Supertanker culminates deal by three dragons

Wah Kwong Maritime Transport, Hong Kong's largest independent tanker owner, has taken delivery of its latest ship, a massive US$140 million supertanker capable of carrying two million barrels of oil.

14 Jan 2012 - 12:00am

Judge orders sale of seized tanker

Admiralty judge Mr Justice Anselmo Reyes yesterday ordered the valuation and sale of a supertanker detained in Hong Kong since the middle of October over the non-payment of bank loans.

7 Dec 2011 - 12:00am

Tankers outstrip crude orders

The mainland's insatiable appetite for oil will not be enough to absorb all the new crude oil tankers due to be delivered over the next three years.

The growing move by China to control more of its own merchant tanker fleet will also reduce opportunities for foreign shipowners to charter vessels to mainland companies, shipping experts warned yesterday.

29 Sep 2011 - 12:00am

Order to sell ship so crew are paid

Twenty crew members on board an oil tanker anchored near Kau Yi Chau were a step closer to getting US$149,035 in unpaid wages yesterday after Admiralty judge Mr Justice Anselmo Reyes ordered the appraisal and sale of the ship to settle outstanding bills.

6 Aug 2011 - 12:00am

Profits ahoy in tanker deal

Well-heeled Hong Kong and mainland investors are among those being targeted by a shipping group that aims to buy and charter four to six oil tankers worth up to US$200 million in a customised club deal.

14 Jul 2011 - 12:00am

S Korean shipper in piracy drama targeted in HK over unpaid debt

South Korean shipowner Samho Shipping has had a tanker seized in Hong Kong over US$3.2 million in unpaid rental payments on two other ships, including one at the centre of a dramatic military rescue after it was hijacked by pirates.

28 Apr 2011 - 12:00am

China's oil demand remains 'wild card' in tanker market

China's uncertain demand for imported oil will be one of the key influences that will affect tanker markets in the medium to long term, according to leading shipowners.

27 Apr 2011 - 12:00am

Oil industry tips surge in tanker storage

Burgeoning development of offshore oil and gas fields buoyed by higher oil prices will lead to a surge in the use of floating production and storage ships between now and 2018. Industry experts say 17 of these static tankers are being designed in China or are in operation there alone.

13 Apr 2011 - 12:00am

China Shipping confirms 4b yuan bonds issue plan

China Shipping Development, one of the mainland's largest tanker and dry bulk cargo ship operators, confirmed it planned to issue convertible bonds to raise up to 3.85 billion yuan (HK$4.56 billion) later this year to finance the construction of 19 ships.

18 Mar 2011 - 12:00am