Written by
Nick Blenkey
Alaskan Frontier [Photograph: OSG]
Tampa, Fla., headquartered Abroad Shipholding Group Inc. (NYSE:OSG) has reached an settlement with BP Oil Transport Firm, USA, to buy the 2004-built U.S.-flag tank vessel Alaskan Frontier, a sister vessel to 3 different Alaskan Class tankers operated by OSG’s wholly owned subsidiary, Alaskan Tanker Firm. Following the anticipated early November completion of the transaction, OSG intends to reactivate the 193,049 dwt capability tanker which has been in chilly layup in Malaysia since 2019.
OSG plans to make important investments within the vessel for it to start industrial buying and selling by the fourth quarter of 2024. It says that the full capital dedication for the challenge, together with the acquisition value of the vessel, is roughly $50 million,
“The acquisition of the Alaskan Frontier brings all 4 of the Alaskan class crude oil tankers below OSG’s possession at a time when the prospect for expanded crude oil manufacturing in Alaska affords nice promise for continued and rising demand for ships of her sort,” mentioned OSG president and CEO Sam Norton. “Upon completion of shipyard work, which can embody lifecycle upgrades on the engines that can enhance the efficiency and longevity of the vessel, we consider that the Alaskan Frontier will likely be primed to offer further transportation capability to go well with the wants of our clients in a time of restricted availability.”
“The total scope of reactivation work is predicted to require a interval of roughly one yr and can, along with the engine upgrades, entail a ballast water therapy system set up and different enhancements to organize her for industrial use,” mentioned Norton.
POSSIBLE METHANOL FUELING
The engine upgrades for the Alaskan Frontier are thought of a lifecycle improve and will likely be accomplished by MAN Power Options SE. This complete modernization of every of the 4 engines onboard will enhance efficiency and gasoline effectivity and in addition put together the engines for attainable methanol fueling sooner or later. It’s anticipated that the gasoline effectivity achieve will end in 15-20% gasoline financial savings as in comparison with the vessel’s present consumption, resulting in a significant discount in carbon output. The numerous capital funding being made will allow the corporate to function the vessel for an extended time period and with fewer upkeep prices for its remaining life.
The Alaskan Frontier was inbuilt 2004 by Basic Dynamics NASSCO and was a part of the energetic fleet of the Alaska Tanker Firm till 2019 when the vessel was positioned in chilly lay-up in Labuan, Malaysia.
