Tank Ship

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.

Thursday, 14 July, 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

Crew tried to avoid collision: owners

The owners of the Hong Kong-registered Hebei Spirit supertanker said yesterday that the crew of the vessel did everything they could to prevent the collision that punched a hole in the ship and released more than 10 million litres of crude oil off the South Korean coast.

10 Dec 2007 - 12:00am

Titan looking to expand fleet

Burgeoning demand for oil in the mainland means plans for more ships will continue apace despite soaring prices

Titan Petrochemicals Group may nearly triple the size of its fleet this year to capture a greater share of the mainland's growing demand for oil and oil byproducts, despite soaring prices for tankers.

16 Feb 2005 - 12:00am

China Shipping buys five tankers on fuel needs

Riding on the mainland's growing demand for oil, China Shipping Development is to spend US$244 million to buy five tankers, including its third very large crude carrier (VLCC) for international trade.

24 Dec 2004 - 12:00am

Uncharted waters

Hudong-Zhonghua Shipbuilding Group has made an industry breakthrough, having been awarded a contract to build two liquefied natural gas tankers with an option on a third - the first time a mainland company has been employed to construct such a vessel. The company signed an agreement with six others to build the tankers, which cost US$160 million each.

13 Aug 2004 - 12:00am

US$46m oil tanker deal

H-share China Shipping Development said yesterday it would buy two oil tankers from Guangzhou Shipyard International for US$46.9 million.

6 Aug 2002 - 12:00am

Timetable change threatens oversupply of oil tankers

The cost of shipping oil and petroleum products could fall sharply next year because a timetable settled last week for eliminating single-hulled tankers is not as stringent as tanker owners had expected.

'The change of schedule has far-reaching consequences,' said Oslo broker Fearnleys in a report. 'We must assume that rates will fall even lower than previously expected.'

11 May 2001 - 12:00am

Spill 'safe'

Initial tests suggest seawater around Yuen Long is unlikely to be affected by a chemical spill caused when a tanker carrying 22 tonnes of styrene overturned in Fuk Hi Street.

7 Feb 2000 - 12:00am

Independents to follow lead of oil giants

As more major oil companies form mergers, competition will lessen accordingly and more independent shipowners will also try to strengthen their positions, a shipping executive says.

3 Jan 2000 - 12:00am

Simulators drill K Line handlers

Kawasaki Kisen Kaisha (K Line) has ordered the latest-model simulators to train staff on cargo-handling and boiler operations on specialised vessels such as liquefied natural gas (LNG) and liquefied petroleum gas carriers and oil tankers.

Its aim is to maintain or upgrade the high level of handling necessary for safety in such operations.

31 Dec 1999 - 12:00am

Newbuildings figures get lift from 14 VLCCs

The number of tankers completed in the first half of this year rose by nine vessels totalling 2.3 million deadweight tonnes (dwt) to 98 tankers, compared with the second half of last year.

15 Sep 1999 - 12:00am