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Record High

U.S. Oil Imports Up

U.S. crude oil imports January to June 2001 were above the 2000 level in each month. However, crude oil imports during 3rd quarter were below the 2000-year level for each month. Crude oil imports in August 2001 were about 1.0 mbd below the August 2000 level and the September 2001 level was 0.3 mbd below that of September 2000. Crude oil imports Jan-Sept. 2001 were record high, 0.10 mbd above the Jan-Sep. 2000 level. The highest U.S crude oil imports ever - 9.484 mbd - were recorded in August 2000. U.S. product imports declined dramatically from 3.33 mbd in January 2001 to 2.12 mbd in August, increasing slightly to 2.24 mbd in September 2001. Products imports Jan-Sept. 2001 were also record high, 0.21 mbd above the Jan-Sep. 2000 level. (Source: INTERTANKO News)


GOM Oil Production to Reach Record High

According to a report from the Offshore Magazine, Gulf of Mexico oil production is forecast to increase substantially over the next few years, possibly reaching 1.9 MMb/d in 2013 which would be a record high. This is MMS’ best-case scenario, which factors in industry-announced discoveries and undiscovered resources. (Source: Offshore Magazine)


China Overtakes Korean Shipbuilding

South Korean shipbuilders were overtaken by their Chinese rivals in new orders acquired in the first four months of the year, a London-based market researcher said on Wednesday. South Korean shipbuilders such as Hyundai Heavy Industries Co and Samsung Heavy Industries Co received a combined 6.9 million compensated gross tons (CGTs) in new orders in the January-April period, up 6.9% from a year ago, Clarkson Research Studies said.


Oil Industry: EPA Going “Too Far, Too Fast” On Diesel

The U.S. oil industry locked horns with environmental regulators last week over a new proposal to make diesel burn cleaner. The Environmental Protection Agency (EPA) proposed this spring to reduce the sulfur content in diesel by 97 percent, starting in 2007, as a way of cutting back on toxic emissions. But at a hearing on the green diesel proposal, oil industry representatives said the EPA was going "too far too fast" and that the rule could cause fuel shortages and surging prices similar to


WSS Expands Network in China

Wilhelmsen Ships Service has opened a new full service office in Ningbo, providing a comprehensive range of ships agency and maritime logistics services. The company now has five offices in mainland China. “Our strategy has been to strengthen our network across China in order to be present where our customers are operating,” said Captain Bi Yuping – General Manager of WSS Ships Agency & Maritime Logistics China.


Boskalis Conclude Good Quarter, Raise Earnings Outlook

Dutch dredging & marine specialists, Royal Boskalis Westminster N.V. (Boskalis) report revenue & profit  higher than in the first half of 2012. The order book increased in recent months and stood at a new record high of EUR 4 billion at the end of the third quarter. Based on current insights, the second half of the year is expected to be strong with a high workload and good results anticipated on a number of dredging projects in progress and close-out results


Shipbuilders Cash In on Special Vessels

According to reports, South Korean shipbuilders are profiting more from selling high-value units such as offshore plants and liquid gas carriers than ever. Daewoo Shipbuilding and Marine Engineering, already has won a record-high $7 billion in building orders this year, which exceeds last year's record of $6.6 billion. Such high performance was largely affected by the sales of four offshore oilrig units, which amounted to $1.9 billion in total.


ConocoPhillips to Acquire Burlington Resources

Already one of the most aggressive spenders on future supplies, ConocoPhillips CEO James J. Mulva is now poised to make another huge deal: a $30-billion plus acquisition of Burlington Resources (BR), according to a Business Week report. Buying BR would be a giant bet on a red-hot U.S. natural gas market. While Burlington has international operations in Algeria, China, and Latin America, 84% of its reserves are in North America. With U.S


Freight Rates to Fall?

While the international ferver for all things maritime continues to sweep the globe, with record high markets in the construction of ships, boats, and offshore structures, a recent report could serve as the proverbial “shot across the bow” that the market could be starting to cool. With a record number of ships set to enter the market, a recent Bloomberg report said that he cost of shipping coal and iron ore is about to decline as the supply of cargo vessels overwhelms demand.


Mitsui-MAN B&W Diesel Engine Achieves World Record

This world record is established when MES completes the construction of Mitsui-MAN B&W 6S50MC-C Mark 7 at its Tamano Works (Tamano City, Okayama Prefecture) for Sanoyasu Hishino Meisho Corporation (with president Mr. Shinich Kimura), who will install such engine to a chip carrier of 4.35 million cubic feet (shipyard No. 1260) to her owner, Mitsui OSK Lines. In the wake of growing demand for new shipbuilding boosted by active ocean cargo transport


Diesel Tankers Make Mid-Atlantic U-turn as Europe Stocks Swell

Tankers laden with diesel heading from the U.S. Gulf Coast to Europe are turning around in mid-ocean as European storage is nearly filled to the brim.   At least three 37,000 tonne tankers - Vendome Street, Atlantic Star and Atlantic Titan - have made U-turns in the Atlantic ocean in recent


Silver Lining for Brazilian Dry Bulk Exports

Graphics: Clarksons

 News out of Brazil has largely made for gloomy reading this year: the contracting economy, the Petrobas scandal and the Samarco dam collapse, claims Clarksons Research. However, there is a case for festive cheer given the growth in Brazil’s dry bulk exports this year.   


Skuld Quadruples Bottom Line

Ståle Hansen, President and CEO. Photo: Skuld

 Norwegian marine insurer Skuld delivered a result of USD 20 million in the first nine months of the year, a USD 5 million increase from the same period last year. Overcapacity is still putting pressure on premium levels, says CEO.  


U.S. Crude Up on Supply, Export Variables

U.S. crude prices up 9 pct this week; at slight premium over Brent for most of day. U.S. crude prices rose for a fourth straight session on Thursday, headed for a 9 percent weekly gain in the lead-up to Christmas as the market tightened on the back of falling supplies and looming exports.


USCG Offload Drugs worth $ 11 mln

USCG Offloading Drug consignment

Crewmembers of Coast Guard Station Miami Beach, Florida, offloaded 254 kilograms of cocaine and 3,662 pounds of marijuana interdicted in the Caribbean Sea as part of Operation  Martillo worth an estimated wholesale value of $11.8 million, at Base Miami Beach, Friday.


Singapore's Record Fuel Stocks Move to Floating Storage

Record high stocks of fuel oil in Singapore are pushing traders to store the shipping and feedstock fuel into tankers temporarily as demand slows regionally. At least seven very large crude carriers (VLCCs) have been provisionally fixed to store fuel oil on short-term time charters


EU-bound Jet Fuel Stays at Sea

Tankers anchored off Europe, extend voyage seeking buyers; outlook dim as imports to the region rise. A jet fuel market in Europe saturated by imports from Asia and the Middle East has forced sellers to keep their oil offshore on tankers or chose longer voyages as they seek out buyers.


US Coast Guard Offloads $41mln Drug Haul

USCG photo by Mark Barney

Approximately 1,100 kilograms of cocaine and 4,420 pounds of marijuana interdicted in the Caribbean Sea worth an estimated wholesale value of $41 million was offloaded by U.S. Coast Guardsmen at Coast Guard Base Miami Beach, Fla., Tuesday.  


KEP Marine Releases Video Recording Products

KEP Marine KHD-MDOCK

  KEP Marine releases today the innovative network video recording system and new HD cameras. The plug-and-play KVNR-8001 network video recording system is simple to install with easy to use commands and remote operating capability. Offering high definition footage recorded at 30 frames


Traders Eye Floating Diesel Storage in Atlantic

Europe diesel stocks reach fresh record high; huge imports from Asia, Middle East weigh on supplies. Oil traders are preparing to store diesel in giant tankers off the coasts of northern Europe and New York as land storage tanks are nearly full, traders said on Friday.


Unwanted Diesel, Jet Ships Could Sink Oil Prices

Backlog of vessels at port threaten loading delays; ships with half a million tonnes taking the long route to Europe.  Unwanted diesel and jet fuel cargoes are backing up outside Europe's ports and taking longer, slower routes around the southern tip of Africa, traders say.


Tanker Rate Spike Dents Efforts to Store Oil Glut at Sea

Record high freight rates are creating more headaches for traders looking to house millions of barrels of unsold crude oil and who already face potential losses due to record high stocks.   They have to decide on whether to use tankers for longer term storage until they can sell their


USCG Offload $ 17 Mln Cocaine

A Coast Guardsman offloads cocaine at Coast Guard Sector Miami Beach, Fla., Nov. 20, 2015. The HNLMS Friesland, an offshore patrol vessel from the Royal Netherlands Navy, interdicted a go-fast vessel with four suspected smu

  Coast Guardsmen on the Coast Guard Cutter Bernard C. Webber offloaded approximately 515 kilograms of cocaine interdicted in the Caribbean Sea as part of Operation Caribbean Venture worth an estimated wholesale value of $17 million at Coast Guard Base Miami Beach, Florida, Friday.


US Oil Rigs Cut for 13th Week in 14

U.S. energy firms this week cut oil rigs for the 13th week in the last 14, data showed on Friday, a sign drillers were still waiting for higher prices before returning to the well pad.   On Friday, OPEC decided to keep production near record highs despite depressed prices


S. Africa Preparing for "worst-case" Maize Import Scenario

South Africa is laying the groundwork in case it needs to import as much as 4 million tonnes of maize after successive seasons of drought threaten the crop in Africa's top producer of the grain, which is usually a net exporter.   Siyabonga Gama, chief executive of Transet






 
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