Iraqi crude oil exports were flowing again at the Turkish port of Ceyhan, where the second vessel this year was finishing lifting and three new cargoes were expected to turn up soon, industry sources said. The sources said the Marina M, which recently replaced the earlier chartered Seadancer, has just about finished lifting one million barrels of Kirkuk crude and the two million barrel Amazon Falcon is already berthed and waiting. Three new vessels are also expected before month's end, with the one-million-barrel Crudesky due to arrive on January 27, and two very large crude carriers (VLCCs) -- the Orient Tiger and the Front Champion -- seen on the 28th and 29th, the sources said. Iraq's state oil marketing organization (SOMO) has listed the three new tankers as expected, but has not issued final approval for them to load. The United Nations, which oversees Iraq's exports, has also not yet approved them. The pipeline that carries Iraqi oil through Turkey to the port was also pumping, but at a reduced rate, they said. Oil exports from Ceyhan resumed last Sunday with the loading of the Super Lady -- the first ship to load this year and only the second to lift since Baghdad began demanding an illegal surcharge paid into a non-U.N. account at the end of November. Loadings at Iraq's Gulf port of Mina al-Bakr, its only other U.N.-approved export point under the oil-for-food program, continued smoothly, the sources said
There is no chance of the United Nations turning a blind eye to any oil companies that pay a surcharge that Iraq is continuing to demand for its oil exports, United Nations diplomats said. "No way are we going to be turning a blind eye to this," one diplomat said when asked if the United Nations could overlook such payments."Industry sources said that Iraq is insisting that customers for its crude under the United Nations oil-for-food program pay a 40 cents per barrel surcharge direct to an
Lehman on Monday started coverage of oil tanker charterer Maritime with a strong buy rating and a 12-month price target of $25. "We expect charter hire rates to remain firm and recover through the remainder of the year as oil production volumes from Iraq and OPEC increase requiring transportation service," said a research note. Iraq, which in June cut oil exports to protest the U.N. administered oil-for-food program put into place after the invasion of Kuwait in 1990
A grounded Norwegian oil tanker carrying 450,000 barrels of crude oil was re-floated near the Venezuelan coast and left for the U.S. Tuesday night, authorities said. The SKS Tagus, bound for the U.S. port of Delaware, reportedly ran aground on in the Maracaibo shipping channel in western Venezuela after a problem with the steering, Reuters reported. "She was successfully re-floated and left last night," a shipping source said
The Russian Register of Shipping's seminar on Maritime Safety and Security in St. Petersburg this week attracted an array of international speakers, including INTERTANKO MD Peter Swift. The seminar was opened by the Russian Minister of Transport, Sergei Frank, who was joined by IMO Secretary General elect, Thimio Mitropoulos; USCG Assistant Commandant, Tom Gilmour; IMO MEPC Chairman, Andreas Chrysostomou; EC Director of Maritime Transport, Fotis
Norwegian union members went back to work Tuesday, ending a six-day strike that hit everything from oil exports to hotels in the nation's most serious labor dispute since the 1980s. The strike ended after employers raised a 2000 pay offer to 4.6 percent from 3.5-4, averting a threatened escalation of the stoppages to 102,000 workers from 86,000. An expansion would have made it the biggest labor conflict in 70 years.
A Nigerian oil worker was killed and another injured on Tuesday in an armed attack on a supply ship operated by a U Edison Chouest Offshore, Reuters reported. "Armed men came alongside the vessel at 0300 hours (O200 GMT) and got on board to look for things to take. They executed one of the crew when they didn't find anything," an unnamed source told the news agency. The supply ship was operated by Edison Chouest Offshore, a Louisiana-based oil services company, a security source said
World seaborne trade rebounded in 2002 to 5.89 billion tons, exceeding the previous record set in 2000, reports UNCTAD´s Review of Maritime Transport 2003, released recently. The recovery in seaborne trade reflects the improved growth in world output and is expected to continue this year, amidst concern about the increased costs involved in implementing tougher security measures. The measures, which are being taken by the United States and by the International Maritime Organization (IMO)
Friday's dirty tanker fixture lists revealed the full extent of this week's blood-bath on VLCC trades from the Mideast Gulf. Rates collapsed by 15 percent overnight on Wednesday as shipowners scrambled to book voyages out of the Gulf before September 1 when OPEC cuts are expected to hit tanker demand, brokers said. Exxon mobil fixed the Starlight Jewel for a 275,000 ton cargo to Singapore loading July 24 at W43.5 (about $0
Ithaca Energy (UK) awards Technip an EPIC subsea Greater Stella Area (at depth of 90 meters) development contract The Greater Stella Area (GSA) development is located in the North Sea, 280 kilometers East-Southeast of Aberdeen, Scotland at a water depth of approximately 90 meters. Vessels from the Technip fleet will be used for the offshore campaign, including the Skandi Arctic and the Wellservicer. Ithaca Energy (UK) Ltd is developing the GSA
Wärtsilä is to supply inert gas systems for a Floating Storage Unit (FSU) on Norway's Heidrun offshore oil & gas field, and for two supporting shuttle tankers. The FSU is owned by Statoil, the Norwegian state owned energy company, and the tankers by AET Tanker Holdings
Ocean Installer has been awarded an Engineering, Procurement, Construction, Installation (EPCI) contract for subsea installations and tie-in operations at the Statoil operated fields Gina Krog (former Dagny) and Eirin. The total contract value is approximately $85 million (U.S.), including options
Smit Lamnalco recognised for services to the oil & gas terminal industries at the annual Seatrade Middle East & Indian Subcontinent Awards in Dubai, U.A.E. The company, which operates over 50 terminal contracts, operates and crews over 190 vessels in 31 countries and employs close to 3
North America is at the forefront of a game-changing transformation in oil and gas production claims International Energy Agency publication. This year’s World Energy Outlook published by IEA finds that the extraordinary growth in oil and natural gas output in the United States will mean
Statoil, on behalf of the licence owners, issued a Letter of Intent (LOI) to Samsung Heavy Industries for a permanent floating oil storage unit (FSU). The contract is worth an estimated US$ 230-million and includes options to buy two additional units
Smit Lamnalco secures major O&M Contract in Iraq Smit Lamnalco has secured the turnkey contract to support Single Point Mooring operations for The Iraq Crude Oil Export Expansion Project (ICOEEP). The scheme, 20 km off the Al Fao Peninsula, looks to triple oil exports from Iraq.
Royal Boskalis Westminster N.V. (Boskalis) associate company Smit Lamnalco wins Single Point Moorings (SPM) support contract from Petrofac. The contract is to support Single Point Mooring operations 20 km off the Al Fao Peninsula for the Iraq Crude Oil Export Expansion Project (ICOEEP)
Oil Search awards Kumul Marine Terminal pipeline IRM contract to Fugro-TSM Fugro-TSM, a division of Fugro Subsea Services, has been awarded the Kumul Marine Terminal Pipeline IRM (Inspection Repair Maintenance) contract by Oil Search Limited.
United Against Nuclear Iran (UANI) CEO, Ambassador Mark D. Wallace, applauds ClassNK's decision to end Iran ties Last week, UANI called on ClassNK, to close its Tehran office and stop certifying Iranian entities. Ambassador Wallace's statement reads:
Classification society Germanischer Lloyd pledges UANI that it will stop certifying IRISL and NITC Vessels United Against Nuclear Iran (UANI) applauded the German shipping service Germanischer Lloyd (GL) for pledging to end its certification of Iranian shipping vessels
Iran's finance minister believes sanctions against his country could cause the oil price to reach US$ 160 per barrel "We must pay close attention when we speak of oil revenues and sanctions against oil sales, who are the winners and the losers of such sanctions?" Shamseddin Hosseini
Tata Steel has been awarded an eight-figure U.S. dollar contract to supply pipe for Enterprise Products Partners L.P.’s new crude oil export pipeline in the Gulf of Mexico’s Keathley Canyon area. The contract will see Tata Steel deliver more than 48
Oil exports from Iran, OPEC’s second-largest producer, may drop because the nation’s tanker fleet is too small to carry all its cargoes, as European Union sanctions cause international ship owners to avoid the country. NITC owns 39 vessels
U.S. and European sanctions designed to pressure Iran over its nuclear program may be cutting the Persian Gulf nation’s oil exports, as vessels cancel trips to the country. Shipments have declined by 300,000 to 400,000 barrels a day
Pirates Kidnap Two From Dutch Ship Off Nigeria Pirates opened fire on a Dutch cargo ship a few miles from the Nigeria's Port Harcourt, kidnapping the ship's master and an engineer and stealing cash, anti-piracy group AKE said on Wednesday.