Category: Europe

Odfjell Receives World’s Largest Chemical Tanker

Norwegian tanker owner and operator Odfjell Tankers has taken delivery of the first of four newbuild stainless steel chemical tankers from China’s Hudong-Zhonghua shipyard.

Delivered on August 26, tanker Bow Orion is the world’s largest in its class according to the company.

The vessel started its maiden voyage two days after delivery, heading for Ulsan, South Korea, to load first cargo.

The new 49,000 dwt ships have 33 cargo tanks in duplex stainless steel, a cargo capacity of approximately 55,000 cubic meters, and engines that consume 14% less fuel compared to the older vessels in the fleet, according to Odfjell.

Bow Orion and sister ship Bow Olympus were named in July this year, as the first two of four vessels the Chinese shipbuilder is to deliver to the shipping company. Odfjell also has two smaller 38,000-dwt vessels on order from the yard.

Also referred to as the Hudong series, the four ships are expected to be delivered by the second quarter of 2020. They will measure 82.88 meters in length, 32.2 meters in width and will have a design draft of 11 meters, as disclosed by the shipbuilder.

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Two Ultramax Newbuilds to Join Belships Fleet

Illustration. Source: Pxhere under CC0 Creative Commons license

Norway’s shipping company Belships ASA has agreed seven-year bareboat charters for two 61,000 dwt Ultramax bulk carrier newbuilds.

As informed, the vessels will be delivered by a Japanese shipyard during the fourth quarter of 2019 and the first quarter of 2020.

The estimated cash breakeven for the bulkers upon delivery is about USD 11,000 per day including operational expenses, Belships said.

Belships will pay a sum of USD 3 million per ship prior to delivery. The agreements come with purchase options below current market values and can be exercised as from the fourth year until the end of the charter, the company added.

“We are very pleased to continue the growth and fleet renewal of the company with two vessels of the highest quality being delivered straight into a strong market,” Lars Christian Skarsgård, Belships CEO, commented.

Following the transactions, the Belships fleet will count 22 Supramax/Ultramax bulk carriers, including the four newbuildings.