State-run Petroecuador has launched two tenders to buy a total of 22 cargoes, 240,000 barrels each, of high octane naphtha RON 87 and 93 for delivery starting on May 21-23, according to documents seen by Reuters on Thursday. The big imports by Ecuador's oil company come as it prepares to completely halt its largest refinery, Esmeraldas, from October to November for a major renovation. The company previously launched a similar tender earlier this month to buy 14 cargoes of high octane naphtha RON 95 and it also bought four cargoes of cutter stock from U.S. oil firm Citizen Resources Corp. According to this tender's terms, Petroecuador is seeking 18 cargoes of high octane naphtha RON 93 for delivery at its ports Esmeraldas, La Libertad or Punta Arenas with the first one arriving on May 21-23 and the second one on May 25-27. Another four cargoes of high octane naphtha RON 87 must be delivered at the same ports, starting on May 21-23. The company said it will receive at least one cargo per month and some deliveries into 2015 are likely. Prices must be indexed to unleaded gasoline 87 from the U.S. Gulf Coast and the company will receive bids until May 7. The $900 million modernization project of the 110,000 barrel per day Esmeraldas refinery has been on the cards since 2011, but it was delayed while new parts for the refinery were imported. New equipment will be installed in its fluid catalytic cracker.
Colombia's state-run Ecopetrol launched a tender to buy a 68,000-70,000 barrel cargo of ultra low-sulfur diesel (ULSD) and a 91,000-95,000 barrel cargo combining ULSD and gasoline, according to a document seen by Reuters on Wednesday. The shutdown of a key pipeline in Colombia since March has affected the oil company and other producers in the Andean country. Exports of medium Vasconia crude have declined in recent weeks, according to traders.
Norwegian shipping firm Frontline is to buy two 1993 tankers from Wilh. Wilhelmsen for a total of $90 million in shares and cash. It will reportedly pay Wilhelmsen 2.96 million Frontline shares and $62 million in cash for the two VLCCs, Tartar and Tarim. Wilhelmsen would book a loss of $15 million from the sale, Frontline said. The vessels are scheduled to be delivered during May/June.
American Superconductor Corporation announced has filed an amendment to the registration statement it filed with the Securities and Exchange Commission on August 29, 2003 for its proposed public offering of 4,000,000 shares of its common stock. The offering will include an option for the underwriters to purchase up to an additional 600,000 shares to cover over-allotments, if any. The lead underwriter for the offering will be
Global Ship Lease, Inc. (GSL) announced that, based on unfavorable market conditions, it has decided to postpone its proposed initial public offering (IPO). The company will continue to monitor the financial markets going forward. GSL's registration statement on Form F-1 for the IPO remains on file with the United States Securities and Exchange Commission. The registration statement relating to these securities has not yet become effective
Macquarie Infrastructure Co LLC said it would buy the 50 percent stake in liquids storage provider International-Matex Tank Terminals (IMTT) that it does not control for $1.03 billion in cash and stock. Macquarie, which owns half of IMTT since 2006, said it expects the deal to add to its free cash flow this year given "a number of opportunities" to implement better expense controls and processes at the liquids storage provider.
U.S. stocks ended little changed on Monday in a quiet session, as investors saw little reason to continue buying on Wall Street after a winning streak of six days of the S & P 500, although the activity mergers and acquisitions boosted the energy sector. * The S & P 500 halted its longest streak profit since mid-April, after hitting session highs on Friday, with the Dow Jones. Investors await catalyst to continue the progress
On January 9, 2008, First Class Navigation Corporation, a Marshall Islands corporation, filed a registration statement on Form F-1 with the United States Securities and Exchange Commission. On January 11, 2008, it was reported that First Class Navigation's filing with the SEC and inaccurately stated that Elmira Shipping & Trading was the sponsor of First Class Navigation. Although Dimitris Souravlas and Georgios Souravlas are
Latvian Economy Minister Aigars Kalvitis said the cabinet had approved three bidders to buy a 68 percent stake in Latvian Shipping. "Six companies had applied and we approved the 'long-list' of three companies," Kalvitis said. He did not name the bidders. The three approved companies will have to place their bids in early April. The cabinet will evaluate the bids and shortlist the companies, which will carry out due diligence of Latvian Shipping
Gas buyers nervous of Russia cutting supply are helping solve Europe's problem of too many underused liquefied natural gas (LNG) terminals, as they seek space at France's Dunkirk plant. Adding to renewed demand is the more potent interest of major east Asian companies
Houston-based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse. But the acquisition that may best symbolize its evolution is one the company didn't tout to
South Africa wants to resume oil imports from Iran, once its biggest supplier, and hopes to resolve "sanction issues" that have blocked purchases within the next three months, its deputy foreign minister said on Tuesday. South Africa bought around 68
A New York-based commodities merchant bank run by veteran energy traders, Neal Shear and Kaushik Amin, announced on Friday plans to buy the aging Come by Chance refinery in Newfoundland from South Korea's state-run oil company. Korea National Oil Corp said it will sell the 115
Edison, the Italian power company controlled by France's EDF, is set to enter private talks with E.On to buy the German group's Italian unit E.On Italia, three sources close to the matter said on Friday. If talks are successful, Edison and E
The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a Supramax Bulk Carrier of about 52,454 dwt. The 2006 built vessel is expected to join the Company’s fleet in September-October 2014. The Company’s current fleet stands at 30 vessels
Petchem producers unlikely to buy due to impurities in oil. Big middle distillates yield, less naphtha, LPG; wide variance in API gravities in assays, samples. Tests on samples of the same type of U.S. condensate now heading to South Korea and Japan have raised questions about the ultra-light
China's Unipec is taking two very large crude carriers with around 4 million barrels of Urals crude to Asia in a move to support Russia's main export grade, traders said on Thursday. Traders said Unipec had booked two VLCCs - Front Tina and British Vintage - and will fill it with the Russian
Iraq has filed a case against Greek shipping company Marine Management Services (MMS) for its role in the "illegal" export of crude from the autonomous Kurdistan region, the oil ministry in Baghdad said in a statement on Thursday.
8001 Centerview Parkway Memphis, TN 38018 Telephone: 901 794 5000 E-mail: marketing@ILSmart.com Website: www.ILSmart.com Vice President – Sales: Don Wilson Number of Employees: 120 The Company: ILS specializes in solving critical shortages in the maritime supply chain
Ukraine will buy one million tonnes of coal from South Africa because the military conflict in its Donbass region has disrupted domestic coal production, Prime Minister Arseny Yatseniuk said on Wednesday. Pro-Russian separatists are battling Kiev's forces in eastern Ukraine
The Iraqi oil ministry said on Thursday it would challenge a U.S. court decision that stopped U.S. Marshals from seizing some one million barrels of disputed Kurdish oil docked near Texas. On Monday, a U.S. district court ruled in favour of a request by Iraq's Kurdish region that a demand by
Korea Gas Corp. has approached long-term suppliers of liquefied natural gas (LNG) to defer up to 10 autumn cargos to winter, showing it is lumbered with excess supply and pulling out of spot markets, industry sources said. High stocks and weak demand prompted state-run Kogas
The U.S. Coast Guard is responding to a vessel collision 18 miles south of Pascagoula Sunday evening. Watchstanders at Coast Guard Sector Mobile received a hailing mayday at 10:40 p.m. from a 74-foot shrimping vessel 18 miles south of Pascagoula, Mississippi
A tanker carrying 300,000 barrels of Kurdish crude oil has changed its destination to Limassol, Cyprus, as it returned from the United States without delivering its disputed cargo to a New Jersey refiner. The Minerva Joy tanker had previously listed its destination as "Gibraltar orders