Suezmax vessels

Seven Oil Cap-compliant Tankers Sail from Russia

Credits: Zbynek Burival/Unsplash

Leading shipping journal Lloyd’s List has reported that seven loaded Suezmax vessels that are fully compliant with the $60 per barrel price cap and its requirements have sailed from Russian waters.

According to the journal, checks have revealed that all seven vessels have secured insurance with International Group P&I clubs, which requires proof of compliance with the G7 cap of $60 per barrel before marine insurance can be provided.

Major delays for ships

Three...

https://mfame.guru/seven-oil-cap-compliant-tankers-sail-from-russia/

ABS Classed Suzemax Converted to Run on Ammonia for the First time

An ABS-classed Suezmax tanker ordered by Avin International LTD, the first vessel of a potential order of three vessels, is to be the first ammonia-fuel ready vessel in the world, says an article published in Seanews.

The Vessel

The landmark 274-meter-long vessel, hull number 0315852, is now under construction at New Times Shipbuilding Co., Ltd (NTS), with options for two further vessels. Currently conventionally fueled, the vessel complies with the ABS Ammonia Ready Level 1 requirements,...

https://mfame.guru/abs-classed-suzemax-converted-to-run-on-ammonia-for-the-first-time/

Nordic American Tankers Emerges as Winner Amid COVID-19 Oil Glut

NAT Dividend Chart
  • As a result of the pandemic, oil demand cratered to levels we have not seen in decades.
  • Nordic American Tankers were given a golden opportunity.
  • The massive and growing crude glut has quickly filled onshore storage facilities to capacity.
  • The result has been a massive surge in demand for vessels to act as floating storage.
  • Nordic American operates a fleet of 23 Suezmax vessels.
  • Nordic American makes its money by moving crude oil from where it is produced to where it will be refined.
  • Nordic...

https://mfame.guru/nordic-american-tankers-emerges-as-winner-amid-covid-19-oil-glut/