Search results for: lr

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  • 20 January 2016
    Business & Finance

    Shipping company Navig8 Product Tankers, part of Navig8 Group, has taken delivery of its third LR2 110,000 dwt product tanker from South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering Co., Ltd. The new vessel, named Navig8 Solace, will be entered into and operated in the Alpha8 commercial pool, managed by the Navig8 Group. The company has so […]

  • 7 July 2017
    Business & Finance

    BW Group has through its subsidiary BW Pacific placed an order for up to eight Long Range 2 (LR 2) product tankers. The order, comprising six firm and two optional ships has been placed at South Korean Daehan Shipbuilding, according to BW Pacific’s CEO Tina Revsbech that confirmed the order to ShippingWatch. World Maritime News is yet […]

  • 25 August 2017
    Business & Finance

    Freight rates for the Long Range (LR) tankers are expected to remain low for the rest of this and the next year, according to a tanker market update from McQuilling Services. “Based on the developments witnessed over the first seven months of this year, we have adjusted our expectations for 2017/2018 down slightly in our […]

  • 30 January 2017
    Business & Finance, Operations & Maintenance

    Lloyd’s Register (LR) has launched Subsea Inspection Service to support underwater inspections in subsea cable, wind farm, and oil and gas sectors.

  • 15 January 2016
    Business & Finance

    Newly-established product tanker company Navig8 Product Tankers Inc has taken delivery of an LR1 74,000 dwt product tanker, the Navig8 Expedite, from the South Korean shipbuilder STX Offshore & Shipbuilding Co, Ltd. The vessel will be entered into and operated in the LR8 commercial pool operated by the Navig8 Group. As World Maritime News reported, Navig8 Product Tankers has […]

  • 10 July 2014
    Business & Finance, Research & Development

    An innovative energy industry consortium set up to tackle the key challenge of enhancing oil recovery from reservoirs has started its mission by holding a kick off meeting to execute its plan of action. The €3.9 million (approx. £3.2 million) project named OPTION – Optimizing Oil Production by Novel Technology Integration – which is being […]

  • 30 November 2015
    Business & Finance

    Danish shipping company TORM has signed a purchase agreement for four fuel-efficient LR2 newbuildings with Chinese shipbuilder Guangzhou Shipyard International (GSI) The newbuildings are expected to be delivered in the period between the fourth quarter of 2017 and the second quarter of 2018. The agreement includes the option to purchase up to six additional vessels within the LR2, […]

  • 28 November 2016
    Business & Finance

    Petroleum products shipping company Navig8 Product Tankers Inc. has taken delivery of a 74,000 dwt LR1 tanker, the Navig8 Prestige, from South Korean shipbuilder SPP Shipbuilding. Navig8 Prestige is the last of four vessels contracted at SPP to be delivered to the company. The tanker will be entered into and operated in Navig8 Group’s LR8 […]

  • 24 October 2011
    Business & Finance

      Scorpio Tankers Inc. announced today that it has chartered-in a 2006 built LR2 product tanker (106,003 DWT), the Khawr Aladid. The vessel will be chartered-in for six months at $12,000 per day, and Scorpio Tankers has options to extend the charter for a period up to two years from delivery at $13,250 per day. […]

  • 26 March 2013

    Scorpio Tankers Inc. has executed agreements with Hyundai Samho Heavy Industries Co., Ltd. (HSHI) to construct a total of four 114,000 dwt LR2 product tankers for approximately $50 million each. These agreements are in addition to the previously announced agreement for two similar vessels. The Company has six LR2 newbuilding contracts at HSHI, all of […]

  • 11 February 2015
    Business & Finance

    Danish shipping company Hafnia Tankers has entered into an agreement to acquire four LR1 product tankers as it pushes to further expand its business within the product tanker segment. The quarter is scheduled to be delivered during the month of February. Once delivered, the vessels will all be joining the Straits Tankers LR1 Pool. The vessels in question […]

  • 15 July 2016
    Business & Finance

    Shipping company Navig8 Product Tankers, a joint venture between the Navig8 Group and DVB Bank, has taken delivery of a 74,000 DWT LR1 tanker Navig8 Pride, from South Korean shipbuilder SPP Shipbuilding Co., Ltd. The Navig8 Pride is the first of four vessels contracted at SPP to be delivered to the company and is the first vessel to […]

  • 11 November 2014

    There has been a significant change in fortunes for struggling long range (LR) tankers in recent months, according to UK-based shipbroker and consultant Gibson. The second quarter figures indicate a switch from the first half’s spot earnings of USD 11,000/day, in which both LR2 and LR1 earnings in the East averaged in October at the […]

  • 9 October 2016
    Business & Finance

    Shipping company Navig8 Product Tankers has taken delivery of the 74,000 dwt LR1 tanker Navig8 Precision from South Korean shipbuilder SPP Shipbuilding. Navig8 Precision, the third of four vessels contracted at SPP to be delivered to the company, will be entered into and operated in Navig8 Group’s LR8 commercial pool. The tanker is the first vessel […]

  • 20 February 2014
    Business & Finance

    Scorpio Tankers Inc. has entered into an agreement to sell its 2008 built, LR2 product tanker, STI Spirit, for $30.2 million. The sale is expected to close in April 2014. Scorpio Tankers Inc. currently owns 21 tankers (one LR2 tanker, four LR1 tankers, one Handymax tanker, 14 MR tankers, and one post-Panamax tanker) with an […]

  • 7 April 2020

    Classification society Lloyd’s Register (LR) has signed a 55-month LNG contract to support LNG Canada with the construction and delivery of its liquefaction plant and export terminal located at a site in Kitimat, BC, Canada. The contract is for third party verification and Canadian Registration Number (CRN) services that LR will perform during the pre-commissioning, […]

  • 30 November 2015
    Business & Finance

     Scorpio Tankers Inc. has decided not to exercise its options to construct an additional four MR product tankers, expiring in December. The company has currently contracted for 12 newbuilding product tankers, eight MR and four LR2 tankers. The four LR2s are expected to be delivered in 2016, and the eight MRs are expected to be delivered […]

  • 26 June 2018
    Business & Finance, Infrastructure, Project & Tenders

    Lloyd’s Register (LR) has won a contract to support the development of Eni’s Coral South FLNG project in Mozambique.

  • 17 January 2020
    Operations & Maintenance, Technology

    AW-Energy Oy has received certification by Lloyd’s Register (LR) for its WaveRoller device. The certificate was presented in person by LR’s senior vice president of Clean Energy and Innovation, Tristan Chapman, to Sami Tuhkanen, chairperson of AW-Energy. “We are delighted with the certification for our WaveRoller technology,” said Sami Tuhkanen. “It reflects the journey we […]

  • 16 July 2014
    Project & Tenders, Vessels

    BC Ferries has awarded Remontowa Shipbuilding S.A. of Gdansk, Poland contracts totalling $165 million to build three new ‘Intermediate Class’ ferries. Lloyd’s Register (LR) will class the ferries. Mark Wilson, BC Ferries’ Vice President of Engineering, said: “BC Ferries is very pleased to have LR as the classification society on these new ‘Intermediate Class’ ferries. […]

  • 17 August 2016
    Business & Finance

    Shipping company Navig8 Product Tankers has taken delivery of the 74,000 dwt LR1 tanker Navig8 Providence from South Korean shipbuilder SPP Shipbuilding. The Navig8 Providence is the second of four vessels contracted at SPP to be delivered to the company and is the second vessel to be delivered under the sale and leaseback agreements entered […]

  • 29 January 2014
    Business & Finance

    Scorpio Tankers Inc. has taken delivery of a MR product tanker newbuilding, STI Opera, from Hyundai Mipo Dockyard Co., Ltd. of South Korea. The vessel will be time chartered-out for up to 120 days at approximately $19,000 per day. Scorpio Tankers Inc. currently owns 21 tankers (one LR2 tanker, four LR1 tankers, one Handymax tanker, […]