American Petroleum Tankers (APT) had its fourth 27,300gt ECO Class tanker, which is currently under construction at Californian shipbuilder General Dynamics NASSCO’s shipyard in San Diego, christened on 17th September. The ship was named the Bay State and is the fourth vessel in a batch of five 50,000 dwt, LNG-conversion-ready product carriers ordered from the shipyard. Sisterships already in service are the 29,923gt/2015 built Lone Star State, the 29,923gt/2016 built duo Magnolia State and Garden State. The ships were designed by DSEC, a subsidiary of Daewoo Shipbuilding & Marine Engineering (DSME) of Busan, South Korea. The design incorporates improved fuel efficiency concepts through several features, including a G-series MAN ME slow-speed main engine and an optimised hull form.
Concordia Maritime announced on 4th October that it was selling the 29,666gt/2015 built IMOIIMAX tanker Stena Image to a large Japanese financial institution. The transaction is a sale and leaseback agreement, which in this case means that the vessel will be chartered back to Concordia Maritime on a bareboat basis (i.e. without crew) for eight years, with annual purchase options from year four onwards. The sale price was $37.5 million and delivery to the buyer is scheduled for mid-October.
Evergas’ 22,887gt/2015 built and 27,500m3 capacity liquefied petroleum gas carrier JS Ineos Insight delivered the first cargo of US shale gas-derived ethane to the UK on 27th September, opening up a new trade route. The vessel sailed from Marcus Hook in the USA on 10th September and delivered her cargo to the Grangemouth facility owned by petrochemical company Ineos. Ethane, derived from natural gas processing, is used in the petrochemical industry as a feedstock to make plastics. One of the production facilities at Grangemouth had been mothballed for eight years due to falling North Sea production cutting the amount of ethane available from that region, causing losses of up to $100m per year. The IneosMax vessel, along with her sisters, are products of Sinopacific Offshore & Engineering, China.
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