BRENT TOWING CO
Russian Urals crude differentials continued to slide in the Baltic on Thursday amid a flurry of activity with softer refining margins, pushed down by higher oil prices, still keeping buyers at bay. In the Platts window, Statoil bought a 100,000-tonne cargo from Glencore for loadings on Oct. 18-22 in the Baltic at dated Brent minus $2 a barrel, some 20 cents weaker than on Wednesday, traders said. Litasco, Total and Vitol have found no buyers with offers of minus $1.80, $1.75 and $1.85 to dated Brent correspondingly. In the south, Litasco increased its bids for 80,000 and 140,000 cargoes to minus 95 cents and minus $1.20 to dated Brent respectively, without success. The were no deals with both Azeri and CPC Blend in the Platts window. Oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey declined by 0.9 percent year-on year to 21.6 million tonnes in the first nine months of 2015 from 21.8 million tonnes in the same period a year ago, a source at Azeri state energy company SOCAR said on Thursday. Kuwait Petroleum International (KPI) and Swiss-based trading house Gunvor said on Thursday they had entered the final stage of talks on the sale of KPI's Europoort refinery in Rotterdam. Goldman Sachs said a rally in oil prices would probably reverse as it had little fundamental support, and the bank reiterated its expectation that prices would likely remain "lower for longer."
North Sea crude markets held steady mid last week, as a combination of high freight rates and absences at industry functions subdued trade. Dated Brent was assessed near last deal done at April Brent +95 cts, with Brent CFD swaps for this week also in that area. Next weeks CFDs are seen around April Brent +90 cts. Institute of Petroleum week in London is keeping trade to a minimum, as are high freight rates caused by an exodus of older vessels out of Europe in the wake of the Erika spillage
Puerto Rico Towing & Barge Co. is expanding the size of its tugboat fleet with the addition of the newly constructed Handy-Three which arrived in San Juan Thursday morning. Puerto Rico Towing & Barge Co., a subsidiary of The Great Lakes Group, is located in San Juan, Puerto Rico, and has been providing vessel assistance and towing services to commercial vessels and barges in San Juan Harbor, other Inland Ports, and ports throughout the Caribbean for over 15 years
Russian Urals prices were steady on Tuesday as the market awaited Saudi Aramco's official selling prices for April, while Kazakh CPC Blend remained under pressure on ample supplies. There was no activity in the Platts window. Kazakh CPC Blend remained weak with buying interest coming at discounts to dated Brent while sellers offered over dated Brent plus 10 cents cif Augusta, above Monday's low deal, traders said.
North Sea Forties crude differentials edged higher in quiet trade on Thursday as dealers eyed a potential VLCC shipment to South Korea and lower supplies next month. The BW Utah VLCC has docked near to the Hound Point loading terminal at the mouth of the Firth of Forth, ship tracking data showed, and is expected to load a cargo of crude to South Korea, traders said. There were no deals, but ENI increased its bid for a cargo of Forties for loading in late April to dated Brent plus 15
Brent premium over U.S. crude widens to $12; China's implied oil demand set to grow 3 percent this year. Crude oil futures rebounded on Friday and Brent headed for its first monthly gain since July, helped by strong investor inflows, an improving demand outlook and supply outages. At 1148 GMT, Brent crude futures were up 92 cents at $60.97 a barrel, off an earlier high of $61.75. U.S. crude was up 78 cents at $48.95 a barrel. Both contracts tumbled on Thursday, with U.S
Oil Averages $18 In 1999 Oil prices in 1999 posted a 35 percent increase on average over 1998, in a triumph of output restraints by exporter group OPEC and key ally Mexico. International benchmark Brent blend for the year was averaging $18 a barrel near the close of business on the last trading day of the year. Brent averaged just $13.34 a barrel in 1998, the lowest in 22 years, when prices slumped amid global surplus caused by excess output and shrinking demand in collapsing Asian economies
London IPE Brent oil futures set a new 22-month high of $21.30 a barrel in early trade today, jumping 54 cents from Friday's close. Dealers said a renewed pledge by leading exporters to retain tight curbs on exports was behind the price rise.
Brent crude futures tumbled more than 7 percent on Tuesday, falling back below $50 a barrel as data highlighting China's contracting manufacturing sector revived concerns about global demand for petroleum. Brent October crude was down $4 at $50.15 a barrel at 11:55 a.m. EDT (1555 GMT), just after falling as low as $49.72. (Reporting by Robert Gibbons; Editing by David Gregorio)
Russian Urals crude price differentials strengthened slightly on Tuesday in the Mediterranean while hovering near their weakest in 17 months in the Baltic due to abundant supplies. In the Platts window, Glencore offered a Nov 13-17 Urals cargo in the Baltic at dated Brent minus $3.05 a barrel and Vitol a Nov 15-19 cargo at minus $2.80, but found no bidders as the asking prices were seen as too ambitious, traders said.
The 86-foot fishing vessel Buzzards Bay, which became disabled with five people aboard 50 miles northeast of Cape Cod, was towed in by U.S. Coast Guard Cutter Harriet Lane on Tueday. Watchstanders at Coast Guard Sector Southeastern New England were notified by the captain of the Buzzards
Oil prices closed 2 percent higher after a volatile session on Thursday, with investors less worried about prospects for the global economy after the last pre-vote opinion polls showed Britain was likely to remain in the European Union.
The American Waterways Operators (AWO) and ClassNK have signed an agreement under which ClassNK will be authorized to conduct audits of AWO's Responsible Carrier Program, a safety management system for towing vessels with which all AWO members must comply as a condition of association membership
Oil prices surged 4 percent on Wednesday, with Brent settling above the psychological $50 a barrel mark, after a larger-than-expected drawdown in U.S. crude inventories. It was a second straight day of gains for oil, which has risen nearly 8 percent since Monday's settlement to recover
Marquette Transportation Co. has taken delivery of a new 2,000-hp Z-drive towboat from Master Marine, Inc., Bayou La Batre, Ala. The 78' x 34’ x11' vessel, St. Bartholomew, was designed by Entech Designs, La. for Marquette’s river division, based in Paducah, Ky.
The prices of WTI and Brent crude briefly rose above $50/bbl during intraday trading on Thursday, the highest level seen since the end of July 2015, giving traders a brief moment of optimism, says a report from Alibra Shipping Research.
Eastern Shipbuilding Group, Inc. announced the delivery of the Escort Tug ZYANA K for Bay-Houston Towing Co. on May 5, 2016. This series of Robert Allan, LTD. (RAL) designed Z-Tech 2400 Class Terminal & Escort Tugs is currently under construction at Eastern’s Nelson Street facility
Refineries from India to the United States are backing away from buying Nigerian oil amid heightened uncertainty about deliveries as the country squares up to militants in the restive Delta region. Their reluctance to buy is limiting the prices Nigeria can get for its oil even as there is
Oil investors are finally buying into the notion that the biggest risk to the price now is likely to be supply falling short of demand, rather than from any stubborn overhang of unwanted crude, the options market shows. The price of Brent crude has hit $52 a barrel
Greek company Springfield Shipping Co. announced that Eniram, the provider of energy management technology and analytic services to the shipping industry, has been selected for a further roll out of its energy efficiency technology for its VLCC vessels.
VT Halter Marine, Inc. has delivered the 6,000hp Twin Screw Articulated (ATB) tug, MV Frederick E. Bouchard, to owner Bouchard Transportation Co., Inc. at the shipbuilder’s facilities in Pascagoula, Miss. on Wednesday, June 8, 2016.
U.S. Labor Secretary Perez and Cuyahoga County Executive Armond Budish visit The Great Lakes Towing Company headquarters and Great Lakes Shipyard; tour and discussion at The Great Lakes Towing Company focused on federal funding’s impact and the importance of employer involvement in workforce
Ex-USS Taylor (FFG-50) was towed from Philadelphia Naval Shipyard to Detyens Shipyard in Charleston, S.C. where the vessel will be converted in preparation for delivery to the Taiwanese government as part of the U.S.’ foreign military sales program.
The world's largest bulk vessel fleet in terms of both ship numbers and deadweight tonnage COSCO Shipping Bulk Co is officially launched in Guangzhou. Its a merger between two companies - COSCO Bulk Carrier Co and China Shipping Bulk Carrier Co.
The U.S. Coast Guard announced Monday new towing vessel regulations establishing new requirements for the design, construction, onboard equipment and operation of towing vessels. These regulations, which were developed over time with input from the Towing Safety Advisory Committee (TSAC)