Expensive VLCC sold for FPSO conversion

2007 February 21 06:45

Expensive VLCC sold for FPSO conversion

VLCCs suitable for conversion into FPSOs (Floating Production Storage and Offloading) are hard to find at commercially viable prices. A lot of the current conversions are made from 1970s built VLCCs, which normally could be had at between USD 10 and USD 15 million. This week the FPSO specialist Modec had to pay USD 39.5 million for the 21-year old, 258,000 DWT Shoju. At present below 5 per cent of the VLCC fleet was built before 1985 and another 13,5 per cent between 1986 and 1990.

2024 November 12

18:06	Iraq shortlists 11 firms for Grand Faw port operation, decision in January 2025
17:42	ZeroNorth and Vitol launch digital bunker trial in port of Rotterdam
17:24	LR MDH joins call to accelerate adoption of zero-emission fuels by 2030
16:41	Port of Rotterdam Authority sets tariffs for the next three years
16:25	Vitol Terminal Latvia introduces new aniline transshipment service
15:45	UECC and Daphne Technology join forces to drive advanced emissions monitoring on UECC’s latest vehicle carrier
15:18	Seatrium inks LoI for a Heavy Lift Vessel for Japan’s wind market
14:55	Silverstream and Yiu Lian Dockyards (Shekou) sign MoU to drive Silverstream® System installations
14:13	AD Ports Group delivers record revenue of AED 4.66 bln and total net profit of AED 445 mln in Q3 2024
13:44	BAR Technologies signs an agreement with WindWaves to manufacture new 20 and 24 metre WindWings
12:31	Sanmar delivers powerful escort tug to P&O Maritime Logistics
11:40	e1 Marine and STAX Engineering partner on innovative barge-based emission capture and control project
11:00	New Yangzi Shipbuilding delivers SEASPAN's 12th dual-fuel medium-sized container ship
10:31	Van Oord completes major dredging project in Egypt
10:03	Zhenhua Heavy Industries launched the world's largest piling vessel for CCCC Second Harbor Engineering Bureau
09:49	Telemar announces agreement to install and maintain Sealution’s shipboard data collection technology

18:00	ADNOC Gas to buy 60% in Ruwais LNG plant
17:18	Strategic Marine signs contract with Mainprize Offshore for six new Supa Swath vessels, with options for six more
17:01	Hanwha Ocean wins 713.5 bln-won deal to build two LNG carriers for Maran Gas Maritime
16:35	One missing after MSDF vessel sinks due to fire off Fukuoka
16:05	Northern European ports in collaboration receive EU funding for onshore power for container ships
15:32	Maersk Tankers to deploy suction sail technology at scale to reduce CO2 emissions
15:12	CMA CGM's revenue up 38.5% to USD 15.8 bln in Q3 2024
14:45	DP World Australia announces acquisition of Silk Logistics
13:24	SAFEEN Group achieves Guinness World Record for most powerful electric tugboat
12:53	Höegh Evi to partner with SEMOP Port-La Nouvelle to develop strategic infrastructure for hydrogen import to France and Europe
12:08	ICTSI's Adriatic Gate Container Terminal hit 2 more milestones
11:24	Daito Corporation to build an electric tugboat
10:43	Hudong Zhonghua completes sea trial of LNG carrier built for Qatar Energy
10:20	CSSC Engine delivers China's first domestically produced methanol dual-fuel main engine
09:47	Hapag-Lloyd acquires German ship management company Hamburger Lloyd

15:03	Keel laying ceremony marks the birth date of new ships for Scilly
13:44	Singapore is strengthening its position as a global hub for supply chain management (SCM)
12:13	ACP: Panama Canal could double the number of containers transiting
11:38	INOX India Ltd announces Q2FY25 Results
10:09	Chittagong port sees 13% fall in export container handling

13:41	Montreal port employers threaten shutdown over labour dispute
12:49	China Merchants signs letter of intent with Brazilian port authority Portos do Parana
11:08	ZIM integrates Hoopo’s solar tracking solutions
09:52	Mexican terminal TMAZ welcomes arrival of MSC vessel

18:00	Greece, Turkey to keep talking on maritime boundaries agenda
17:35	Montreal Port urges Trudeau government to end strike
17:24	Yangzijiang Shipbuilding receives 98 new orders this year
16:57	Utilizing Milbros UV Graphs improves chemical tank cleaning safety and turnaround
16:25	Transnet National Ports Authority pilots usage of cleaner fuels on its tugboat fleet
15:34	Wallenius Wilhelmsen exercise options for two additional 11,700 CEU Shaper vessels
15:02	IMO heads to COP 29 to promote net-zero framework for shipping
14:45	Fincantieri, VARD and Sandock Austral Shipyards form alliance around the Afrika Offshore Patrol Vessel
14:25	KOTUG’s SD Waalo begins maiden voyage under bp charter for LNG operations
12:43	QatarEnergy inaugurates four LNG vessels, the first from Korean shipyards
12:24	Fincantieri finalizes order with Crystal for a new high-end cruise ship
10:09	Friday Shipbrokers fix chartering project with Boskalis to transport car carrier to China for repair
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18:00	Innovation Norway and Team Norway sign two agreements aimed at advancing sustainable maritime solutions
17:54	MABUX: Bunker price trends in the world's four largest hubs, Nov 4 - Nov 8, 2024
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17:16	HD KSOE receives AiP from LR and LISCR for ammonia fuel-related equipment
17:08	ClassNK granted its “ELW (HP)” notation to bulk carrier “ROYAL LAUREL”
16:42	Equinor strengthens its position in the Norwegian Sea
16:24	Provaris Energy raises A$1.5 million to support hydrogen and CO₂ initiatives
15:56	Catator joins Ammonia Energy Association to accelerate adoption of ammonia for shipping
15:46	Scandlines wins innovation award of the German mobility industry
14:33	Flex LNG agrees to amend the existing time charter agreements for the two LNG carriers
13:41	ADNOC secures 15-year sales and purchase agreement for Ruwais LNG project
13:07	Three fugitive methane detection and measurement technology companies selected for feasibility studies
12:44	Irving Shipbuilding chooses TMC for Canadian patrol ships
12:24	ADNOC awards $490 mln contract to expand world’s largest 3D seismic survey
11:59	First Damen Shrimp Trawler 2607 completes sea trials
11:13	GTT receives an order from a Korean shipyard for the tank design of a new Floating Storage Regasification Unit
10:58	Hapag-Lloyd orders 24 LNG- fuelled boxships

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