Petrochemical Products News

Americans became aware of our nation’s supply chain problem when they witnessed a hundred cargo ships anchored off the ports of Long Beach and Los Angeles, stymied from moving cargo to store shelves throughout the United States. Such circumstances could become all too common, especially as recently adopted engine emission regulations force maritime companies out of the country’s most impacted ports, or limit their ability to expand operations as America’s demand for imports and…

Techcross said its Europe office has signed a contract to install ballast water management systems (BWMS) aboard Dutch shipping company Anthony Veder Rederijzaken B.V.'s fleet of gas carriers.Through this order, 13 of Anthony Veder's vessels will be equipped with a direct electrolysis BWMS, Electro-Cleen System (ECS). Depending on the size of the vessel, products with 300 to 450 tons will be delivered sequentially by 2024, and delivery to the first vessel will begin immediately from the third quarter of this year.Founded in 1937…

A Project Partnership Agreement (PPA) between the U.S. Army Corps of Engineers (USACE) and the Port of Houston Authority (Port Houston) was formally presented for the Houston Ship Channel's billion-dollar widening and deepening program, Project 11.The PPA is the official document committing Port Houston to the responsibilities of the project as the local non-federal sponsor. It details the terms of the channel infrastructure expansion, and most significantly, permits the start of dredging the federal waterway.

Singapore LNG Corp, operator of the city-state's liquefied natural gas (LNG) terminal, is designing a new facility to extract chemicals from the super-chilled fuel, in a project that could help boost the island's energy security.The company said on Wednesday it is working with Keppel Infrastructure through its wholly-owned subsidiary Keppel Energy and another industry partner on front-end engineering and design (FEED) for a natural gas liquids extraction facility at the terminal in Jurong Island…

In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s oil trade.Within weeks, a little-known company based in the United Arab Emirates took over management of several tankers that had been shipping Venezuelan oil. The vessels got new names. And then they resumed transporting Venezuelan crude.The company, Muhit Maritime FZE, is one of three UAE-based entities identified by Reuters that have shipped Venezuelan crude and fuel during the second half of this year. Their role emerges from an examination of internal shipping documents from Venezuela’s state oil company as well as third-party shipping and vessel tracking data.

The United States on Wednesday imposed sanctions on companies based in China and the United Arab Emirates, accusing them of supporting the sale of Iranian petrochemicals as Washington increases pressure on Tehran in the closing days of President Donald Trump's term.The U.S. Treasury Department said in a statement it had blacklisted the four entities for facilitating the export of Iranian petrochemical products by Triliance Petrochemical Co. Ltd, which was hit with sanctions by…

A  1,600-horsepower towboat delivered to Harvey, La.-based operator L&L Marine Transportation in June is now operational with a full range of Thordon oil-free and grease-free bearings.Designed by Entech, the 65-foot twin-screw towboat Amelia Ray is purpose-built by Rodriquez Shipbuilding in Coden, Ala. for the transportation of petrochemicals along all inland and coastal waters in the southern states of the U.S.In addition to newest towboat addition, L&L Marine operates the 2,000-horsepower Melissa Lee and three 1,200-horsepower vessels Angela Rae, Myrna Ann and Madeleine Michelle.

A limited reopening of Libyan oil terminals could allow the export of some crude oil and condensate stored at Es Sider, Brega, Zueitina and Hariga, but leaves a months-long blockade of the ports in place, oil engineers say.East Libyan authorities said on Wednesday they would permit exports of the stored products in an effort to ease an electricity supply crisis that has resulted in increasingly lengthy power cuts.The ports have been blockaded since January by east Libyan factions as part a wider conflict…

Qatar Petroleum (QP), a state owned petroleum company of Qatar, said that it had concluded a 10-year sales agreement to supply Thailand's SCG Chemicals with a total of 3 million metric tons of light naphtha starting from this month.The agreement was made for and on behalf of the Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), Qatar Petroleum said in a press release.This long-term supply agreement is the first QPSPP naphtha feedstock sale to an end-user in Thailand, highlighting QPSPP’s push for more direct sales with established end-users.Marking this achievement, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs…

Malaysian shipping group MISC Berhad (MISC) has received a time charter contract from Idemitsu Kosan (IKC) for the provision of a floating, storage and offloading (FSO) vessel in Vietnam.The energy-related maritime solutions and services provider said in a press release that the contract that it received through its 51%-owned joint-venture with PetroVietnam Technical Services Corporation (PTSC) i.e. Malaysia Vietnam Offshore Terminal (L) Limited (MVOT), represents the expansion of MISC’s footprint as a leading player in providing offshore solutions in the ASEAN region.MISC has close to 10 years of experience in Vietnam’s offshore development in a joint venture partnership with PTSC and currently operates two floating assets…

South Korean exports declined in April for the first time in 18 months, unable to keep up with 2017’s brisk pace as global demand softened, adding to worries about the country’s trade outlook amid the risk of a deepening U.S-China trade conflict.Exports fell 1.5 percent to $50.1 billion from a year earlier, marking the first decline since October 2016 when shipments fell 3.2 percent, government data showed on Tuesday. Economists polled by Reuters had forecast 4.1 percent growth.Imports increased 14.5 percent to $43.4 billion…

National Shipping Company of Saudi Arabia (Bahri) announced the transportation of the first chemical shipment from Aramco Trading Company (ATC), a wholly-owned subsidiary of Saudi Aramco that trades refined, liquid chemical and polymer products, via ‘NCC Amal,’ a 45,000 DWT Bahri chemical tanker which left Port of Rabigh heading to China. The shipment, which contains 25,000 metric tonnes of paraxylene (PX) and 20,000 metric tonnes of monoethylene glycol (MEG), marks the completion of Phase II of the Petro Rabigh Company (PRC) project, which was celebrated at a special ceremony in the presence of Abdullah Aldubaikhi, CEO of Bahri‎, Nasser D. Al-Mahasher, CEO of PRC, Ibrahim Q. Al-Buainain, CEO of ATC, and other representatives from the three companies.

SEA\LNG, the industry coalition aiming to accelerate adoption of liquefied natural gas (LNG) as a marine fuel, has added two more Japanese members: "K" LINE Group and Uyeno Group. “K” LINE and Uyeno Group bring valuable insight from the thriving LNG value chain in Japan and elsewhere, and their acceptance into the coalition is demonstrative of SEA\LNG’s commitment to facilitating further growth in the region. Peter Keller, SEA\LNG chairman and executive vice president, Tote, said: “Collaboration, demonstration and communication on key areas such as safety, regulation, emissions and the economic case for LNG are essential to strengthening the increasing confidence and demand required for an effective and efficient global LNG value chain by 2020.

South Korea's third-largest refiner S-Oil Corp signed a long-term liquefied natural gas (LNG) supply contract with Malaysia's Petronas for 15 years starting from next year, the North Asia company said on Friday. S-Oil expects to buy 700,000 tonnes of LNG per year from state-owned Petronas from March 2018 through March 2033, it said in a stock filing exchange. "We have inked the deal on good terms for our company amid the current favourable LNG market conditions," said the refiner in the filing. S-Oil, whose main shareholder is Saudi Aramco, declined to provide price details for the deal. The refiner said in a separate statement the deal was part of its efforts to ensure stable supplies of LNG.

The Map Ta Phut Tank Terminal Company (MTT) has signed an official preparedness framework agreement with Ardent. The deal is the first of its kind in Thailand and is specifically structured to mitigate risk by pre-staging response elements and training Thai-based terminal operators to work with emergency management elements. MTT is a commercial port and storage terminal dedicated for liquid and gaseous petrochemical products. MTT terminal, comprising of four marine jetties and 33 storage tanks, is able to support more than 20 varieties of petrochemical products.

The global market for anchor handling tug supply vessels is poised for growth from 2016-2020, according to a report by Research and Markets. In the report, which covers the present scenario and the growth prospects market based on total revenue generated from the different geographical regions, analysts forecast the global market for anchor handling tug supply (AHTS) vessels will grow at a compound annual growth rate (CAGR) of 13.88 percent during the period 2016-2020. “One trend which is boosting market growth is the rise in subsea vessel operations,” said an analyst from the research team.

Massive investments in the port of Antwerp are coming in the next few years. The SEA-Invest group is planning construction of a new tanker terminal in the Delwaide dock representing an investment of 250 million euros. In the same dock the group will also operate an independent container terminal that it has acquired from Independent Maritime Terminal (IMT). This facility is currently located in the Hansa dock but will be moved to the Delwaide dock where there is space for further development with an additional investment of 50 million euros. Other new activities not directly related to the waterfront will help to reutilise the space released in the Delwaide dock. In the meantime a location has been found for the Houston-based international terminal operator Zenith Energy.

Turkish maritime authorities have reopened Istanbul's Bosphorus Strait to transiting tankers after shutting it earlier on Saturday for several hours following what the government said was an attempted coup by a faction in the military. The Bosphorus is one of world's most important chokepoints for the maritime transit of oil with over three percent of global supply - mainly from Russia and the Caspian Sea - passing through the 17-mile waterway that connects the Black Sea to the Mediterranean. It also ships vast amounts of grains from Russia and Kazakhstan to world markets. On Saturday, forces loyal to the Turkish government fought to crush the remnants of a military coup attempt, following violence and clashes in Ankara and Istanbul.

Iran has placed orders worth around $2.4 billion with South Korean shipyards for the construction of ships to carry Iran’s oil and petrochemical products, The Wall Street Journal says. The orders have been placed by the Islamic Republic of Iran Shipping Lines (IRISL) and the oil producer Iranian Offshore Oil Company (IOOC). The Korean companies involved in the case are Hyundai Mipo Dockyard, which is a subsidiary of shipbuilding giant Hyundai Heavy Industries Group, as well as Daewoo Shipbuilding and Marine Engineering Company. It has signed a memorandum of understanding with Hyundai Mipo Dockyard, a subsidiary of shipbuilding company Hyundai Heavy Industries Group, for as many as 10 petroleum-product tankers and at least six so-called handysize bulk carriers.

FESCO Transportation Group, in cooperation with the Maritime port of Olya, is launching the Trans-Caspian intermodal service FESCO Russia Iran Service (FRIS), to carry out freightage between Russia and Iran. The service includes shipping over the Caspian, railway and/or motorway transportation over Russia, highway transportation over the territory of Iran, as well as transshipment in ports Olya and Nowshahr or Bandar-e Anzali. Accepted for shipping are containerized and general cargoes; the shipping is performed in accordance with FESCO’s through bill of lading. The estimated en-route time between the Russian port of Olya and the Iranian ports is 5 days. The test consignment of containers loaded with industrial freights was delivered to Iran on March 13, 2016.

The Iranian shipping company Islamic Republic of Iran Shipping Lines (IRISL) called at the port of Antwerp with one of its ships this week, for the first time since economic sanctions were lifted. The honour of being the “first” Iranian ship in Antwerp’s waters fell to the container carrier Azargoun which moored at the Antwerp Gateway terminal in the Deurganck dock. A deputation of representatives from the Port Authority, the ship’s agent PWL and the terminal operator went on board to welcome the ship’s master and crew. Up until 2010 Antwerp was the main European port destination for Iranian cargo. Now that sanctions against Iran have been lifted, the Port Authority is eager to restore economic relations with that country.

Indian Oil Corp (IOC) has awarded a contract to build two football stadium-sized liquefied natural gas (LNG) storage tanks at its upcoming Ennore LNG import terminal in Tamil Nadu to Mitsubishi Heavy Industries Pvt Ltd (MHI) of Japan. "We have received an EPC (engineering, procurement and construction) order from Indian Oil  to construct two LNG storage tanks. The LNG tanks will be the main facility at the first LNG receiving terminal to be constructed on India's east coast. This is also the first LNG storage tank order that MHI has received from India. Construction of the tanks is slated to begin in July of this year; completion is scheduled for the spring of 2018," says a statement from MHI.

The National Waterways Foundation (NWF) has commissioned and released a two-year, ground-breaking study by the University of Tennessee and the University of Kentucky, “Inland Navigation in the United States: An Evaluation of Economic Impacts and the Potential Effects of Infrastructure Investment” (November 2014). The study examines the waterways’ national economic return on investment and the need for and benefits of an accelerated program of waterways system improvements that sustain and create American jobs. The study evaluates the inland navigation system as it is currently funded and configured, and as it might be through renewed infrastructure investment.