Maersk slows down tankers..............

(Feb  24  2011)

- Maersk Tankers is taking slow steaming to a new level on its VLCCs with speeds as low as 8.5 knots - something that no other tanker owner has done, the company has claimed.

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..........announces huge profits

(Feb  24  2011)

- The AP Moller-Maersk group has announced a profit for 2010 of $5 bill, despite a negative result in the tanker division.

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Suezmax to transit Northern Sea Route

(Feb  24  2011)

- Sovcomflot (SCF) is planning to send a Suezmax from European Russia to Asia, via the Northern Sea Route, this summer, according to Platts.

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NITC looses P&I cover

(Feb  24  2011)

- Four P&I mutuals belonging to the International Group Agreement - Steamship Mutual, UK Club, West of England and North of England - have declined to give P&I cover to NITC for policy year 2011/2012.

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P&I Club to address STS

(Feb  24  2011)

- The UK P&I Club and UK Defence Club are hosting a seminar on Ship to Ship Transfer Operations (STS) in conjunction with OnlineSTS.net and FenderCare on the 3rd March at the Piraeus Marine Club.

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BLT gets five year loan

(Feb  24  2011)

- PT Berlian Laju Tanker has received commitments from six banks for a $685 mill term loan.

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Fredriksen's Frontline feels the squeeze

(Feb  24  2011)

- Frontline has announced a net loss of $11.8 mill for the fourth quarter of 2010, compared with net income $12.3 mill for the preceding quarter.

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ITCL remains in positive territory

(Feb  24  2011)

- Independent Tankers (ITCL) reported net income of $5.5 mill for the fourth quarter of 2010 and $15.5 mill for the full year.

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Higher operating expenses impact on SFI

(Feb  24  2011)

- Ship Finance International (SFI) announced a net income of $30.5 mill for 4Q10, which included an accrued profit share of $2 mill.

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d'Amico strikes a positive note in adversity

(Feb  24  2011)

- Product tanker operator d'Amico International Shipping (DIS) reported an EBITDA OF $30.4 mill and a net loss of $20.5 mill for 2010.

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Concordia outperforms the market

(Feb  24  2011)

- Concordia Maritime reported a net turnover of SEK513.4.3 mill for 2010 and a result after tax of SEK80.4 mill.

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NSCSA back on track

(Feb  24  2011)

- The National Shipping Co. of Saudi Arabia (NSCSA) announced that the net profit for 2010 was SAR414.9 mill, compared to SAR369.3 mill for 2009, an increase of 12.3%.

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IP and Hempel follow Jotun's price rise

(Feb  24  2011)

- Following Jotun's announcement of a coatings price rise (see TANKEROperator News 2nd February), another two manufacturers have announced price rises due to escalating raw material costs.

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Panama holds record with ClassNK

(Feb  24  2011)

- At the end of last year, the combined tonnage of Panamanian flagged vessels on ClassNK's register had broken the 100 mill gt barrier.

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Astander, Ship manager, Spain; CEPSA, Capt. Vetting Surveyor, Spain; chevron, 3rd, India; Condition Analyzing Corporation, Sr. Account Manager, United States; Distribuidora Marítima Petrogas, S.L.U, Captain, Spain; DOLPHIN SEAWAYS (INDIA) PVT LTD, DIRECTOR, India; HSH Nordbank AG, Shipping Market Analyst, Germany; Maritim Protection company, CEO, Denmark; MOLTANKSHIP MANAGEMENT, Engineer Superintendent, United Kingdom; MTM Ship Management Pte Ltd, Safety & Quality Manager, Singapore; National Gas Shipping Company, Engineer Officer, Spain; OCIMF-SIRE, Vetting inspetor, Spain; Pakistan State Oil Company Limited, Senior Executive, Pakistan; Petrobras, Master, Spain; prime tanker, chief engineer, Myanmar; Quomundo AG, Director, Switzerland; Reederei NSB, Captain, Romani; SASEMAR, MASTER, DUTY CONTROLLER, Spain; TENSOSYS FZ CO, International Business Executive, United Arab Emirates; THE SHIPPING CORPORATION OF INDIA LTD, DEPUTY GENERAL MANAGER, India; Titan Petro Chemical, Technical Manager, Singapore; union gulf service UAE, marine operation manager & partner, United Arab Emirates; univan ship management, motorman, India; Vela International Marine Ltd, Scheduling & Charting Specialist, United Arab Emirates; Wedbush Securities, Inc, Senior Vice President, United States; Wooil Marine Co.,Ltd, Exe. Director, Korea