The announcement went on to disclose that the counterparty to the contract was quite a recognized European shipowner. As per the agreement signed between the shipowner and Hengli Shipbuilding, as well as keeping in mind the relevant provisions of the Regulations on the Temporary Suspension and Exemption of Information Disclosure by Listed Companies, the specific information pertaining to the shipowner was exempted from the disclosure.

The announcement confirmed that this 158,000 DWT crude oil carrier goes on to represent a mainstream global large-scale crude oil tanker design. Featuring high deadweight capacity, low fuel consumption, and outstanding environmental performance, it goes on to sync with the updated global design concepts when it comes to crude oil tankers and also meets the most recent environmental regulations.

Interestingly, this also marks the second tanker construction contract that was signed by Hengli Shipbuilding in December 2025. As reported in the past, on December 20, *ST Songfa had announced that Hengli Shipbuilding, its subsidiary, had inked and also finalized a contract for the construction of two 114,000 DWT crude oil/product tankers. The new vessels are being sold to a single-ship company under Monte Nero Holdings S.A. The overall contract value is almost $100-200 million, with a delivery that is scheduled for H1 of 2027.

It is worth noting that ever since the third quarter of 2025, Hengli Heavy Industries has gone ahead and secured a series of fresh orders in the new shipbuilding market, thereby covering many vessel types such as container ships, bulk carriers, and oil tankers. Notably, its order backlog now extends till 2029. At the same time, making utmost use of its strong industrial chain benefits, Hengli Heavy Industries has attained independent manufacturing capacities for core components like marine main engines. This sort of robust delivery assurance has gone on to become a major factor when it comes to the selection decisions of clients.

Positioned on opposite sides of the isthmus, the Panama Canal port terminals will be linked through a dedicated pipeline, offering LPG shippers the ability to transfer cargo from the Atlantic basin to the Pacific without transiting the canal.

The concept of a trans-Panama LPG pipeline has been under consideration for several years. It originates from surging U.S. Gulf Coast production of ethane and propane, coupled with sustained demand from Asian buyers. Traditionally, shipments moving between the US gulf coast (USGC) and East Asia are loaded on very large gas carriers (VLGCs) and routed through the canal. However, last year’s drought conditions significantly curtailed VLGC passages and disrupted trade flows. By creating a pipeline, shippers would be able to offload cargo on one coast of Panama and reload it onto another vessel on the opposite side, avoiding potential draft limitations and delays tied to canal transits.

According to ACP CEO Ricaurte Vásquez, Panama Canal port Terminals are important as future requirements for LPG transport across Panama could increase as Chinese petrochemical companies continue to expand their ethane consumption. If part of this traffic is redirected through the Panama Canal LPG pipeline, it would also free up capacity on the New Panama Canal for larger carriers such as LNG vessels.

Vásquez explained that this initiative marks a strategic step for the ACP to participate more directly in port operations, according to Bloomberg. While the authority has historically focused on canal transit and not in cargo facilities, he noted that “we are coming into the game of port terminals.”

In line with this approach, ACP will soon open a tender to select an operator for the LPG facilities on both the Atlantic and Pacific coasts. Earlier this year, the authority authorized the bidding process to choose a contractor for the Panama Canal LPG pipeline.

Martechnic
One of the objectives of ensuring the required quality of the heavy fuel oil on board of a vessel is to monitor it for the presence of cat fines. As cat fines are extremely abrasive particles of various sizes that can cause severe damages to the components of the engine system, the bunker fuel oil undergoes a purifying procedure in a separator prior to being used for a vessel’s engine operation.

However, the purification process does not always guarantee the removal of these particles to a minimum acceptable level due to technical malfunctions of the cleaning system, the initially high content of cat fines in the delivered HFO or other factors related to the fuel maintenance on board.

With regard to the above-stated issue and pursuing its business strategy to provide best technical solutions in the oil quality management, Martechnic® has come up with a new effective test method for the regular on-site monitoring of the oil condition for the presence of cat fines.

The MT Cat Fines Check allows a quick determination of cat fines’ concentration in bunker fuel delivered on board as well as purified in a separator in order to define whether a particular HFO is acceptable to the engine system or not.

A Martechnic®’s spokesperson commented: “The regular assessment of the quality of heavy fuel oil enables an efficient identification of cat fines directly on board and provides with a quick overview not only of the HFO condition, but also of the overall state of the on-board equipment required for HFO’s treatment before entering the engine”.

Referring to the challenging issue of cat fines for the shipping industry, Martechnic® will showcase its new test device at the upcoming trade shows: Posidonia Metropolitan Expo 6-10 June 2016 in Greece, and Marine Maintenance World Expo 21-23 June 2016 in Amsterdam. The participants and visitors will be informed about the company’s latest developments in portable on-site oil analysis equipment, as well as sensor devices for permanent oil monitoring and cleaning facilities.

The strategic alliances for mutual co-operation in ship acquisition, chartering and commercial management aims to set out a platform for the parties to have an enhanced commercial relationship and to further strengthen their existing business ties.

The parties have agreed that Gulf Navigation would acquire vessels that would be time-chartered to MENA Energy for carrying Crude and the petroleum products.It is intended that Gulf Navigation will acquire or order new builds upto 12 vessels ranging between 50,000mt dwt and 120,000mt dwt.

Mr Khamis Juma Buamim, Board member, Managing Director and Group CEO of Gulf Navigation said: “We are truly proud of this strategic alliance and we are delighted to take another step forward in GulfNav’s strategic business expansion process and to have deepened GulfNav’s existing strong collaboration with MENA Energy which would add value and prove advantageous to both parties”.

Mr. Rashid Al Ghurair, CEO of MENA Energy said: “With this alliance we will be able to strengthen our existing fleet of tanker and support our growing oil trading activity. This brings us closer to our vision of being a leader in middle eastern energy trading.

Gulf Navigation vision is to create shareholder value as a listed, fully integrated ship owning company which transports crude oil and chemical products responsibly and safely in a sustainable manner, and to be among the industry leaders in these sectors.

MENA ENERGY is the region’s leading trader of crude oil & petroleum products and that manages petroleum products storage tank terminals and also owns & operates Crude oil and product tankers.

Japan-based Mitsubishi Heavy Industries (MHI) has secured an order from Astomos Energy to construct a new liquefied petroleum gas (LPG) carrier.

The order is part of Astomos Energy’s medium-term business plan to expand its LPG transport structure and increase gross LPG handling volume from the current 10 million tonnes a year to 12 million tonnes a year, by 2015.

The new vessel will be constructed at MHI’s Nagasaki Shipyard and Machinery Works and will be similar to the one MHI supplied to Astomos Energy in 2013.

The LPG carrier will be 230m long, 36.6m wide and 11.1m in draft, with gross weight of 48,300t and 51,100 deadweight tonnes.

In addition to being fuel efficient, the new vessel will feature MHI’s unique hull design and will be able to operate in the diverse conditions of the world’s LPG terminals.

The vessel will also be equipped with advanced systems such as mooring arrangement, which will allow it to pass through the newly expanding Panama Canal.

The vessel will have the capacity to carry up to 83,000m³ of LPG.

The new carrier will replace an old vessel owned by Astomos Energy, which currently operates 23 LPG carriers. The vessel is scheduled for delivery in the first half of 2016.

BMT Smart (BMT) has successfully incorporated its vessel performance monitoring system into two Minerva Marine chemical tankers, Minerva Leo and Minerva Tychi.

The BMT Smart system integrates on-board data, collected automatically from navigation and automation systems, with on-shore data, such as accurate Hindcast Metocean statistics.

The Minerva Marine team can use BMT’s web-based Smartfleet application, which combines accurate metocean data with the company’s algorithms to isolate the different components contributing to overall vessel performance.

The technology enables on-shore personnel to make decisions about how to restore a vessel’s performance.

Minerva Marine New Buildings and S&P senior engineer Maria Tsobanoglou said: “BMT has been able to offer a comprehensive package that can fully support our efforts to monitor daily operational costs and optimise fleet performance.

“The hardware seamlessly integrates with different on-board automation systems, synchronising easily with the on-board database.

“BMT provides flexibility in data display and analysis, with trends and live feedback, making it easier for us to manage our maintenance strategies and quantify the results of an energy saving solution, or calculate the payback period of a particular investment.”

BMT will also install its shaft power torque metre and vessel performance monitoring systems for two new Suezmax tankers, Minerva Kalyspo and Minerva Evropi.

The vessel will feature a length of 117 meters and a width of 20 meters, according to Hyundai Mipo Dockyard.

Although the financial terms of the contract were not disclosed, the shipbuilder said that the LNG bunkering ship is expected to be delivered to its owner in the second half of 2018.

Hyundai Mipo added that the contract includes an option for two more ships of the same class.

Earlier this year, Hyundai Mipo clinched an order to construct a 50,000 dwt LNG-fueled bulk carrier for Ilshin Shipping.

Scheduled for delivery in late 2017, the energy-efficient bulker is set to transport limestone from Gangwon Province to the facilities of South Korea’s steel company Posco in Gwangyang City.

The first two vessels in the series are scheduled to be delivered in 2015. The vessels were ordered in October 2011 by Osaka Gas and Mitsui O S K Lines, with construction starting in December 2012.

Eight vessels in the series have been ordered to date, the latest order being made by MI LNG Co., a joint venture between Nippon Yusen Kabushiki Kaisha (NYK Line) and Imabari Shipbuilding Co in May 2014. The vessel is scheduled to be delivered in 2017.

Ocean Breeze LNG Transport (OBLT), a joint venture between Kawasaki Kisen Kaisha and a subsidiary of INPEX, ordered a Sayaendo-series vessel in June 2013. INPEX will use the vessel to carry LNG procured from the Ichthys LNG project in Australia. Osaka Gas and Kyushu Electric Power ordered one vessel in May 2013, which will start operations in 2020 for transportation of LNG produced by the Ichthys LNG Project of Inpex.

Sayaendo Class LNG carriers are expected to have a life expectancy of 30 years, with a dock period of roughly 25 days in two and a half years. The management and operation of the first two vessels has been assigned to Mitsui O S K Lines.

Design of the Japanese LNG carriers

“The delivery of the first two Sayaendo-series vessels is scheduled for 2015.”

The vessel measures 288m-long, 48.94m-wide and 11.55m in draft. It will have a gross tonnage capacity of 138,000t and be capable of carrying up to 153,000m³ of LNG using four Moss-type tanks.

Each of the vessel’s Moss-type spherical tanks will measure approximately 40m in diameter. The tanks will have a peapod-shaped continuous cover over them incorporated into the vessel’s hull, unlike the conventional liquefied natural gas (LNG) carriers where the upper half of the spherical tanks above the ship’s deck is covered by a semispherical dome and the lower half is supported by a cylindrical skirt structure.

The design will enable size and weight reductions, provide larger cargo capacity and improve maintainability and aerodynamics by reducing wind pressure. The design of the ship will also provide 25% reduction in fuel consumption, compared with conventional LNG carriers, thus cutting down carbon dioxide (CO2) and sulphur oxide (SOx) emissions.

The construction of complex structures to accommodate the piping, electric cables and passages atop the tanks will be done away with, unlike conventional vessels, by placing these equipments on the flat section on the top of the continuous tank cover. The design also integrates the cargo machinery room into the tank cover.

The insides of the four tanks feature a hold area, and the loading and unloading manifolds are placed between the second and third holds.

The vessel will also be equipped with a ballast water treatment system onboard and provides an option to accommodate a helideck at its aft.

MHI’s ultra steam turbine plant (UST)

The vessel will be powered by MHI’s ultra-steam turbine (UST) plant, which is a two-stage feed water reheat steam turbine system that reuses steam for heating using an automatic re-heater. It also features an advanced heat insulation system that offers the lowest LNG vaporisation rate.

“Sayaendo is a new set of liquefied natural gas (LNG) carriers being assembled by Mitsubishi Heavy Industries (MHI).”

The UST turbine comprises a high or intermediate-pressure turbine, a low-pressure turbine, a main condenser and a reduction gear unit located on a single shaft.

It is capable of burning fuel of any combination, such as oil-only, gas-only and dual.

The vessel will be capable of operating entirely on gas during slow-speed operations and while at harbour. It is suitable for use in cold regions and ice fields due to its independent tank system.

The vessel will be further equipped with a Mitsubishi reaction fin to further enhance its performance. The propulsion system aboard the vessel will enable it to sail at a speed of 19.5kt.

Contractors involved with the Sayaendo liquefied natural gas carriers

The contract for the supply of the insulation systems for the cargo tanks in five of the vessels in the series was awarded to TI Group (Ti) in January 2013. The manoeuvrability analysis for the vessel was carried out by Japan Marine Science.