VLCC Metula oil spill

Seadronix Wins Commercial Contract to Install its AI Solution on Wind Turbine Installation Vessel in World First

Retrieved on: 
Wednesday, September 13, 2023
Wind, Ship, Fishery, Artificial intelligence, VLCC Metula oil spill, Climate change, WTIV, Shipbuilding, Copper, Renewable energy

SEOUL, South Korea, Sept. 13, 2023 /PRNewswire/ -- Seadronix, a company specializing in artificial intelligence (AI) solutions for the maritime industry, competed successfully with major maritime conglomerates and won a tender to install its state-of-the-art AI situational awareness solution on a wind turbine installation vessel (WTIV). This will be the first installation of such a system on this type of vessel in the world.

Key Points: 
  • This will be the first installation of such a system on this type of vessel in the world.
  • Wind turbine installation vessels require a very close approach to offshore structures which makes their operation challenging.
  • Seadronix's CEO, Byeolteo Park, said: "Seadronix is proud to have won the contract to supply our AI solution to a wind turbine installation vessel on the same day we were chosen to the Forbes Asia 100 to Watch list.
  • Seadronix is expected to pioneer the market for AI-enabled smart solutions in the maritime industry, expanding the business to special purpose vessels including wind turbine installation vessels.

FRO – Second Quarter and Six Months 2023 Results

Retrieved on: 
Thursday, August 24, 2023
TCE, VLCC Metula oil spill, PLC, FRONTLINE, OPEC, Trichloroethylene, Clothing, Video game, Petroleum, Suezmax

FRONTLINE PLC REPORTS RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2023

Key Points: 
  • FRONTLINE PLC REPORTS RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2023
    Frontline plc (the “Company” or “Frontline”), today reported unaudited results for the six months ended June 30, 2023:
    Highest second quarter profit since 2008 of $230.7 million, or $1.04 per basic and diluted share for the second quarter of 2023.
  • Adjusted profit of $210.0 million, or $0.94 per basic and diluted share for the second quarter of 2023.
  • Declared a cash dividend of $0.80 per share for the second quarter of 2023.
  • Reported spot TCEs for VLCCs, Suezmax tankers and LR2/Aframax tankers in the second quarter of 2023 were 64,000 , 61,700  and 52,900 per day, respectively.

International Seaways Reports Second Quarter 2023 Results

Retrieved on: 
Wednesday, August 9, 2023
Maritime, Energy, Transport, Oil, Gas, Optimism, International, Share repurchase, TCE, Line of credit, INSW, Sale, Suezmax, VLCC Metula oil spill, EBITDA, VLCC, NYSE, Reinsurance, Holding company, Car rental, Renewable energy, Self storage, Bank, Natural gas, Airline, Video game, Beauty salon, Security (finance), Satellite navigation device, LNG, Aframax

Shipping revenues for the second quarter were $292.2 million, compared to $188.2 million for the second quarter of 2022.

Key Points: 
  • Shipping revenues for the second quarter were $292.2 million, compared to $188.2 million for the second quarter of 2022.
  • Consolidated TCE revenues for the second quarter were $288.3 million, compared to $185.5 million for the second quarter of 2022.
  • Shipping revenues for the Crude Tankers segment were $152.2 million for the second quarter of 2023, compared to $62.1 million for the second quarter of 2022.
  • The Company will host a conference call to discuss its second quarter 2023 results at 9:00 a.m. Eastern Time (“ET”) on Wednesday, August 9, 2023.

Gibson Energy Expands Liquids Infrastructure Platform with Acquisition of Texas Gulf Coast Crude Oil Export Facility for US$1.1 Billion, Announces Concurrent $350 Million Subscription Receipt Bought Deal Offering

Retrieved on: 
Wednesday, June 14, 2023
Permian, Royal Bank of Canada, BMO Capital Markets, LLP, Equivalence, Indian stock exchange, URL, Seasoned equity offering, Toronto Stock Exchange, Eagle Ford, Dallas, Eastern Time Zone, Corpus Christi Bay, JPMorgan Chase, DBRS, Risk, Equity, Prospectus, RBC Capital Markets, Internet, VLCC Metula oil spill, Acquisition, DCF, Terminal, Transaction, Hart–Scott–Rodino Antitrust Improvements Act, SEDAR, Webcast, TSX, Growth, United, VLCC, Adjustment, News, Mouth, Oil, Retail, Life insurance, Security (finance), Financial services, Financial adviser, Internet service provider

CALGARY, Alberta, June 14, 2023 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI) announced today it has entered into an agreement to acquire 100% of the membership interests of South Texas Gateway Terminal LLC (“STLLC”) for a total purchase price of US$1.1 billion in cash (the “Transaction”), subject to closing adjustments. Through the Transaction, Gibson acquires the South Texas Gateway Terminal (“STGT” or the “Terminal”) which is positioned as one of the most competitive liquids terminal and export facilities globally with direct pipeline connections to low-cost, long reserve-life resource supply, and very large crude carrier (“VLCC”) capabilities. The Transaction implies a multiple of less than 9x the projected forward Adjusted EBITDA and is immediately accretive, with DCF per share accretion in the mid-teens4,5,6.

Key Points: 
  • “After much patience and discipline, I am excited to add the world-class South Texas Gateway Terminal to our infrastructure portfolio.
  • This transaction amplifies our high-quality infrastructure revenues and bolsters the continued growth of our distributable cash flow per share.
  • In March 2021, STGT completed the final construction phase of incremental storage facilities bringing the total terminalling capacity to 8.6 million barrels of crude oil across 20 tanks.
  • Through the Transaction, Gibson expands and enhances its North American terminal footprint by establishing a third liquids hub underpinned by over 95% take-or-pay        revenue8.

FRO – First Quarter 2023 Results

Retrieved on: 
Wednesday, May 31, 2023
PLC, TCE, Front line, FRONTLINE, Sale, VLCC Metula oil spill, COVID-19, FIRST, Trichloroethylene, Clothing, Security (finance), Bank, Management, Suezmax

FRONTLINE PLC REPORTS RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2023

Key Points: 
  • FRONTLINE PLC REPORTS RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2023
    Frontline plc (the “Company” or “Frontline”), today reported unaudited results for the three months ended March 31, 2023:
    Highest first quarter profit since 2008 of $199.6 million, or $0.90 per basic and diluted share for the first quarter of 2023.
  • Adjusted profit of $193.3 million, or $0.87 per basic and diluted share for the first quarter of 2023.
  • Declared a cash dividend of $0.70 per share for the first quarter of 2023.
  • Reported revenues of $497.3 million for the first quarter of 2023.

International Seaways Reports Fourth Quarter and Full Year 2022 Results

Retrieved on: 
Tuesday, February 28, 2023
Maritime, Energy, Transport, Oil, Gas, Poseidon, EBITDA, Carbon, Safety, Documentation, Suezmax, INSW, NYSE, Macquarie Group, VLCC Metula oil spill, Share repurchase, Mercury, Investment, History, Exercise, Access code, Handysize, TCE, International, Sale, Line of credit, Recycling, Credit, VLCC, Video game, Cryptocurrency, Bank, Commercial property, Security (finance), Holding company, LNG, Aframax

Consolidated TCE revenues for the fourth quarter were $335.7 million, compared to $93.0 million for the fourth quarter of 2021.

Key Points: 
  • Consolidated TCE revenues for the fourth quarter were $335.7 million, compared to $93.0 million for the fourth quarter of 2021.
  • Shipping revenues for the fourth quarter were $338.2 million, compared to $94.7 million for the fourth quarter of 2021.
  • Adjusted EBITDA for the fourth quarter was $254.3 million, compared to $11.9 million for the fourth quarter of 2021.
  • Shipping revenues for the Crude Tankers segment were $152.9 million for the fourth quarter of 2022, compared to $44.5 million for the fourth quarter of 2021.

FRO – Fourth Quarter and Full Year 2022 Results

Retrieved on: 
Tuesday, February 28, 2023
Hyundai Heavy Industries, Front line, PLC, VLCC Metula oil spill, Trichloroethylene, Combination, FRONTLINE, TCE, Sale, VLCC, Video game, Bank, Ridesharing, Management, Suezmax

FRONTLINE PLC REPORTS RESULTS FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2022

Key Points: 
  • FRONTLINE PLC REPORTS RESULTS FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2022
    Frontline plc (the “Company” or “Frontline”), today reported unaudited results for the three and twelve months ended December 31, 2022:
    Highest quarterly net income since the second quarter of 2008 of $240.0 million, or $1.08 per basic and diluted share for the fourth quarter of 2022.
  • Adjusted net income of $215.5 million, or $0.97 per basic and diluted share for the fourth quarter of 2022.
  • Declared a cash dividend of $0.30 per share for the third quarter of 2022 and a cash dividend of $0.77 per share for the fourth quarter of 2022.
  • Reported total operating revenues of $530.1 million for the fourth quarter of 2022.

International Seaways – Focus on Deleveraging, Dividends & ESG Highlights from the Capital Link Presentation Series

Retrieved on: 
Wednesday, January 25, 2023
Momentum, Policy, Suezmax, International, Capital, NYSE, INSW, Senior management, VLCC, Q&A, ESG, VLCC Metula oil spill, Growth, Sound (geography), CFO, LR2, Oil, Renewable energy, Sailor, Far East, EU

NEW YORK, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Capital Link hosted a presentation by the senior management of International Seaways, Inc. (NYSE: INSW) on Tuesday, January 17, 2023.

Key Points: 
  • NEW YORK, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Capital Link hosted a presentation by the senior management of International Seaways, Inc. (NYSE: INSW) on Tuesday, January 17, 2023.
  • “This liquidity has continued to grow,” despite International Seaway’s large dividends given out to shareholders, Mrs. Zabrocky said.
  • Mrs. Zabrocky stressed that ESG is one of the most fundamental issues for International Seaways.
  • International Seaways was the first in the US company to link sustainability to its senior debt facility in 2020.

TEN Ltd. Announces the Delivery of a 2020 South Korean-Built VLCC

Retrieved on: 
Tuesday, November 15, 2022
VLCC Metula oil spill, TNP, Acquisition, LNG, NYSE, TEN, Oil tanker

ATHENS, Greece, Nov. 15, 2022 (GLOBE NEWSWIRE) -- TEN, Ltd. (TEN) (NYSE: TNP) (the “Company”) today announced the acquisition of the 2020 South Korean-built Very Large Crude Carrier, to be renamed the “Dias I,” the purchase of which was agreed in the first half of 2022, as previously reported. The vessel was delivered to TEN on expiration of its contract to a major oil concern and management will now consider employment opportunities reflective of market conditions as they present themselves.

Key Points: 
  • The vessel was delivered to TEN on expiration of its contract to a major oil concern and management will now consider employment opportunities reflective of market conditions as they present themselves.
  • With about 65% of the fleet in spot employment or profit-sharing contracts with market exposure, we are positioning the Company to take advantage of this evolving trend for the long-term, Mr. Saroglou concluded.
  • TEN, founded in 1993, is one of the first and most established public shipping companies in the world.
  • TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Aggresive in Global Market Expansion, PIS Meets BP, Shell, and Exxon in Singapore

Retrieved on: 
Saturday, September 3, 2022
LPG, Exxon, Seven Sisters, VLCC Metula oil spill, PIS, CGO, USCG, BP, Compliance, Revolution, ExxonMobil, Knowledge, LNG, Petrobras, Shell, Vitol, Private investigator, Petroleum, Operation

SINGAPORE, Sept 4, 2022 - (ACN Newswire) - Pertamina International Shipping (PIS) is increasingly targeting consumers in the international market.

Key Points: 
  • SINGAPORE, Sept 4, 2022 - (ACN Newswire) - Pertamina International Shipping (PIS) is increasingly targeting consumers in the international market.
  • PT Pertamina International Shipping (PIS), in cooperation with PIS Pte Ltd (PIS PL), hosted a sharing session with BP Singapore Pte.
  • The meeting was held at the offices of each energy company on August 24-25, 2022, in Singapore.
  • PIS, in cooperation with PIS Pte Ltd (PIS PL), hosted a sharing session with BP Singapore Pte.