Gener8 Maritime Adds 13th ECO VLCC

first_imgUS-based crude oil shipping company Gener8 Maritime has taken delivery of the Gener8 Macedon, the thirteenth of twenty-one ECO Very Large Crude Carriers (VLCC) the company has on order at South Korean shipyards. The Gener8 Macedon was built by Hyundai Samho Heavy Industries.Upon delivery, the vessel entered Navig8 Group’s VL8 Pool.Six more VLCC newbuildings are scheduled for delivery in 2016, with two vessels expected in 2017.As of August 31, 2016, Gener8 Maritime has a fleet of 43 wholly-owned vessels comprised of 26 VLCCs, 11 Suezmaxes, four Aframaxes, and two Panamax tankers.In the second quarter of this year, Gener8 Maritime recorded a 91% increase in its net income to USD 38 million, compared to USD 19.9 million seen in the same quarter a year earlier.last_img

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Alexandre Gagnon stepping down as CEO of Petrolia Inc

QUEBEC – Alexandre Gagnon is stepping down as CEO of Quebec oil and gas company Petrolia Inc.Gagnon is joining aerospace firm Pratt and Whitney.Petrolia (TSX-V:PEA) has named Martin Belanger as interim CEO. He has been a member of the board of directors for nearly two years and has worked extensively in the oil and gas industry for the past 24 years.Petrolia has been embroiled in a dispute with the Quebec government over exploratory oil and gas drilling on Anticosti Island, with a judge ruling in July the province and a private firm didn’t have to give the company nearly $13 million.Petrolia went to court to get the money to ensure exploratory work on three wells would begin as scheduled this summer.Superior Court Justice Martin Castonguay did state, however, that Ressources Quebec, a subsidiary of Investissement Quebec, and Saint-Aubin must contribute money until next May to enable Petrolia to maintain certain jobs on Anticosti Island.The amount was not made public.Petrolia and Corridor Resources yielded their exploration permits for Anticosti Island in 2014 in exchange for promised investment. That deal was reached under the previous Parti Quebecois government. by The Canadian Press Posted Aug 26, 2016 10:06 am MDT Last Updated Aug 26, 2016 at 11:00 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Alexandre Gagnon stepping down as CEO of Petrolia Inc. read more

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