Complete Maritime Profile & Reviews of Alba

In a significant fallout from the latest US sanctions against Russia, three tankers are currently stranded off the coast of China, carrying a combined total of 270,300 tons of oil. This sanctions package, announced by Washington last week, is causing disruptions in Russian oil exports as Chinese ports, particularly in Shandong, have prohibited entry for vessels impacted by these measures. Among the tankers affected are the 'Huihai Pacific', 'Mermar', and 'Olia'. The 'Olia' departed from the Russian oil terminal at Kozmino on December 3, 2024, and was last recorded anchored at coordinates 38° 16' N 121° 55' E on January 13, 2025. The future of these vessels remains uncertain as the situation evolves.

In a significant move in the maritime industry, Teekay has finalized the sale of two aframax tankers to Estoril Navigation, based in Greece. Although Estoril Navigation did not provide any comments when approached by industry news source Splash, details surrounding the transaction have emerged. The vessels involved are the Korean-built American Spirit, with a deadweight tonnage (dwt) of 111,000, and the Japanese-built Fuji Spirit, which weighs in at 106,000 dwt. Both tankers sold for a reported price of $28 million each. Furthermore, it is understood that these ships have been secured on three-year time charters, although the specifics of the rates remain undisclosed. According to VesselsValue.com, the market values for the two tankers, both constructed in 2003, hover around $24 million each, indicating a favorable deal for Teekay. Founded in January 1993 by Alex Karidopoulos, Estoril Navigation represents the evolution of Empire Marine Transport, which was initially established a decade earlier. This latest acquisition boosts Estoril Navigation's aframax fleet, bringing the total number of vessels in their operation to five, further solidifying their presence in the shipping sector.