UK's Hound Point VLCC Jetty Down Until Sept. 15

Posted by Joseph Keefe
Thursday, August 28, 2014

The supertanker jetty at the North Sea's Hound Point crude oil terminal is shut for maintenance and will not reopen until Sept. 15, operator BP Plc said on Thursday, making sending excess cargoes to Asia more difficult for traders.

The Hound Point jetty has two berths, but only Jetty 1 is large enough for the Very Large Crude Carriers (VLCC) that traders normally use to send cargoes to Asia.

"Hound Point 1 berth will be closed to carry out maintenance. The berth won't be available for loading from 26th August 2014 until the work is complete, which we estimate as 15th Sept 2014," BP said in a statement.

"Hound Point 2 berth is fully available for normal operations. Only vessels suitable for Hound Point 2 jetty will be accepted during this period."

A glut of crude in the Atlantic Basin has depressed price differentials in the North Sea close to multi-year lows, leading to expectations more cargoes would sail east.

But without the economies of scale of using VLCCs the arbitrage trade is less workable, potentially pressuring Forties and other North Sea crudes that underpin Brent oil futures.


Reporting by David Sheppard

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

OTC Names 2016 Award Winners

The 2016 Offshore Technology Conference (OTC) will honor this year’s Distinguished Achievement Award recipients on Tuesday, 3 May, in Houston.   As part of the

ABS' Tikka Elected Foreign Member of NAE

ABS, a provider of classification services to the global marine and offshore industries, announced the election of ABS Europe and Africa Division President Dr.

Ellicott Takes On Rohr-Idreco Line in Latin America

Ellicott Dredges LLC & Rohr-Idreco Dredge Systems, which are owned by Ellicott Dredge Enterprises, LLC, has  announced that Ellicott's Latin American Sales Manager,

Ports

N.Korea Shipper Skirts UN Sanctions, Gets Port Access

A U.N.-blacklisted North Korean shipping company continues to evade sanctions through its use of foreign-flagged ships, name changes and other means of obfuscation,

US Corn, Wheat Supplies to Rise as Exports Wane

U.S. corn and wheat ending stocks will be higher than previously expected at the end of the marketing year due to cuts to already weak demand for U.S. supplies on the export market,

Containers to Be Weighed Before Departure

In a new measure aiming to minimize the number of shipping accidents, packed containers intended to be carried on international sea voyages must be weighed before being loaded, starting July 1, 2016.

Finance

AIWA Highlights Investment Needs on the Nation’s Marine Highways

Nowhere is that more important than on the Atlantic Intracoastal Waterway. As 2016 begins, we at the Atlantic Intracoastal Waterway Association (AIWA) are looking

Pentagon: Cut in LCS Ship Program 'Not an Indictment'

U.S. Deputy Defense Secretary Robert Work said the Pentagon's plan to truncate the Littoral Combat Ship program at 40 ships instead of 52 reflected budget pressures

Grounded Giant Chinese Boxship Freed

One of the world's largest container ships has been freed from a mud bank after running aground almost a week ago near Germany's largest port of Hamburg, German authorities said on Tuesday.

Energy

OTC Names 2016 Award Winners

The 2016 Offshore Technology Conference (OTC) will honor this year’s Distinguished Achievement Award recipients on Tuesday, 3 May, in Houston.   As part of the

Wood Group Extends North Sea Chevron Contract

Wood Group has secured an extension to continue to support Chevron Upstream Europe across four offshore assets in the North Sea. Wood Group PSN (WGPSN) will deliver

QP, Chevron Ink Offshore Moroccan Deal

Qatar Petroleum has reached an agreement with Chevron Morocco Exploration Ltd., a subsidiary of Chevron Corporation, to acquire a 30% participating interest from

News

OTC Names 2016 Award Winners

The 2016 Offshore Technology Conference (OTC) will honor this year’s Distinguished Achievement Award recipients on Tuesday, 3 May, in Houston.   As part of the

AIWA Highlights Investment Needs on the Nation’s Marine Highways

Nowhere is that more important than on the Atlantic Intracoastal Waterway. As 2016 begins, we at the Atlantic Intracoastal Waterway Association (AIWA) are looking

Pentagon: Cut in LCS Ship Program 'Not an Indictment'

U.S. Deputy Defense Secretary Robert Work said the Pentagon's plan to truncate the Littoral Combat Ship program at 40 ships instead of 52 reflected budget pressures

People in the News

OTC Names 2016 Award Winners

The 2016 Offshore Technology Conference (OTC) will honor this year’s Distinguished Achievement Award recipients on Tuesday, 3 May, in Houston.   As part of the

ABS' Tikka Elected Foreign Member of NAE

ABS, a provider of classification services to the global marine and offshore industries, announced the election of ABS Europe and Africa Division President Dr.

Great Lakes Shippers Set Top Priorities

North America’s largest mining, manufacturing and agricultural companies have helped identify four top priorities to improve the competitiveness of Great Lakes shipping,

Logistics

N.Korea Shipper Skirts UN Sanctions, Gets Port Access

A U.N.-blacklisted North Korean shipping company continues to evade sanctions through its use of foreign-flagged ships, name changes and other means of obfuscation,

US Corn, Wheat Supplies to Rise as Exports Wane

U.S. corn and wheat ending stocks will be higher than previously expected at the end of the marketing year due to cuts to already weak demand for U.S. supplies on the export market,

Containers to Be Weighed Before Departure

In a new measure aiming to minimize the number of shipping accidents, packed containers intended to be carried on international sea voyages must be weighed before being loaded, starting July 1, 2016.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Salvage Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1585 sec (6 req/sec)