Shipping is the most efficient means of moving cargo worldwide, with ships carrying more than 90% of global trade by water. As ships transit through many jurisdictions and can cross several boundaries in one voyage, the international governance of shipping is essential for industry to maintain a degree of consistency and global acceptance.Read More
British Columbia is seeing an unprecedented level of investment in ports, terminals and infrastructure to support Canada's growing trade with Asia. Each project helps create a more competitive environment for our ports and more jobs for communities throughout Western Canada.Read More
While international shipping has embraced the use of new technologies to enhance the mariner's toolkit for safe navigation, ships still look to our professional marine pilots to assist in the safe navigation of vessels along our coast and in the Fraser River. The requirements for the safe navigation of ships are embodied in the Canada Shipping Act 2001 and other key pieces of marine-related legislation in Canada.Read More
Tankers have been calling BC ports for several decades and continue to demonstrate that industry best practices, which often exceed regulations, can ensure that these transits are done safely and without any harm to the surrounding environment.Read More
Typical of the approximately 650 strong fleet of modern VLCCs is Mesdar operated by Glasgow based Norbulk Shipping.
Built by Cosco Nantong Shipyard, Nantong PRC in 2007
Owned by New Ocean Shipping Venture Ltd.
Operated by Norbulk Shipping UK Ltd. in Glasgow
GRT 160,295 tons
DWT 315,802 MT
Summer draft 21m
Classification Society: Bureau Veritas
Privately owned Norbulk Shipping Company is headquartered in Bermuda with Management offices are located in Glasgow, Riga, Helsingborg, Saint John NB, Genoa and St. Petersburg. The company manages a diversified fleet of VLCCs, LPG carriers, product and chemical tankers, ro-ro’s, refrigerated cargo container vessels and bulk carriers in addition to providing construction supervision to new builds.
Following a strong 2015, the crude oil tanker market is expected to maintain healthy returns for owners in 2016 despite fleet growth of around 4%. The real concern is that scrapping of older vessels is certain be deferred so long as they can make good money in the spot market. Around 35 million tons DWT was of tankers were ordered in 2015 including 66 VLCCs. See the fleet growth history and projection in the chart above left and the correlation between the declining price of oil and average VLCC rates from the Gulf to Asia above right.