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Kotug Aids Allseas in Topsides Transport

Photo: Kotug

Kotug International’s offshore division has assisted Allseas with the transfer and transport of Shell’s Brent Delta topsides after the record-setting removal of the structure by Pioneering Spirit.   Kotug was mainly involved in the assistance of the cargo barge Iron Lady during the transfer of the topsides from the Pioneering Spirit to the Iron Lady and the ensuing tow of the barge to the Able UK decommissioning yard in Teesside, Northeast England.   After the Pioneering Spirit lifted the Brent Delta platform, it was seafastened and sailed to a location offshore Hartlepool, U.K., where the platform was transferred from the Pioneering Spirit to the Iron lady.   This transfer was assisted by KOTUG, who operated and oversaw four harbor tugs which took over the Iron Lady in order to bring it under the Brent Delta platform in the slot of Pioneering Spirit.   Subsequently, the same four harbor tugs towed the Iron Lady carrying the topsides out of the slot of the Pioneering Spirit into the river Tees, for the remaining part of the transport to the decommissioning yard.   With the entrance channel to the Able UK decommissioning yard being narrow and tidal restricted, this final part of the journey required in-depth towage expertise and powerful, versatile tugs. Kotug and Allseas chose to deploy two Rotortugs and two ASD tugs in order to create maximum redundancy and maneuverability in the tug configuration.  


Urals Weakens Further in Baltic

Russian Urals crude differentials continued to slide in the Baltic on Thursday amid a flurry of activity with softer refining margins, pushed down by higher oil prices, still keeping buyers at bay.   In the Platts window, Statoil bought a 100,000-tonne cargo from Glencore for loadings on Oct. 18-22 in the Baltic at dated Brent minus $2 a barrel, some 20 cents weaker than on Wednesday, traders said.   Litasco, Total and Vitol have found no buyers with offers of minus $1.80, $1


“Old Ship” Fears Drive Tanker Markets Higher

North Sea crude markets held steady mid last week, as a combination of high freight rates and absences at industry functions subdued trade. Dated Brent was assessed near last deal done at April Brent +95 cts, with Brent CFD swaps for this week also in that area. Next weeks CFDs are seen around April Brent +90 cts. Institute of Petroleum week in London is keeping trade to a minimum, as are high freight rates caused by an exodus of older vessels out of Europe in the wake of the Erika spillage


Puerto Rico Towing Receives Tug "HANDY THREE"

Jensen Maritime designed Tug Handy-Three

Puerto Rico Towing & Barge Co. is expanding the size of its tugboat fleet with the addition of the newly constructed Handy-Three which arrived in San Juan Thursday morning.   Puerto Rico Towing & Barge Co., a subsidiary of The Great Lakes Group, is located in San Juan, Puerto Rico, and has been providing vessel assistance and towing services to commercial vessels and barges in San Juan Harbor, other Inland Ports, and ports throughout the Caribbean for over 15 years


Med Crude-CPC Blend Under Pressure, Saudi OSPs Awaited

Russian Urals prices were steady on Tuesday as the market awaited Saudi Aramco's official selling prices for April, while Kazakh CPC Blend remained under pressure on ample supplies. There was no activity in the Platts window. Kazakh CPC Blend remained weak with buying interest coming at discounts to dated Brent while sellers offered over dated Brent plus 10 cents cif Augusta, above Monday's low deal, traders said.


Brent up to $61, First Monthly Gain Since July

Brent premium over U.S. crude widens to $12; China's implied oil demand set to grow 3 percent this year. Crude oil futures rebounded on Friday and Brent headed for its first monthly gain since July, helped by strong investor inflows, an improving demand outlook and supply outages. At 1148 GMT, Brent crude futures were up 92 cents at $60.97 a barrel, off an earlier high of $61.75. U.S. crude was up 78 cents at $48.95 a barrel. Both contracts tumbled on Thursday, with U.S


Oil Averages $18 In 1999

Oil Averages $18 In 1999 Oil prices in 1999 posted a 35 percent increase on average over 1998, in a triumph of output restraints by exporter group OPEC and key ally Mexico. International benchmark Brent blend for the year was averaging $18 a barrel near the close of business on the last trading day of the year. Brent averaged just $13.34 a barrel in 1998, the lowest in 22 years, when prices slumped amid global surplus caused by excess output and shrinking demand in collapsing Asian economies


London Brent Futures Set New High

London IPE Brent oil futures set a new 22-month high of $21.30 a barrel in early trade today, jumping 54 cents from Friday's close. Dealers said a renewed pledge by leading exporters to retain tight curbs on exports was behind the price rise.


North Sea Forties Up, VLCC at Hound Point

North Sea Forties crude differentials edged higher in quiet trade on Thursday as dealers eyed a potential VLCC shipment to South Korea and lower supplies next month. The BW Utah VLCC has docked near to the Hound Point loading terminal at the mouth of the Firth of Forth, ship tracking data showed, and is expected to load a cargo of crude to South Korea, traders said. There were no deals, but ENI increased its bid for a cargo of Forties for loading in late April to dated Brent plus 15


Med Crude-Urals Stronger in Med, Still Weak in Baltic

Russian Urals crude price differentials strengthened slightly on Tuesday in the Mediterranean while hovering near their weakest in 17 months in the Baltic due to abundant supplies.   In the Platts window, Glencore offered a Nov 13-17 Urals cargo in the Baltic at dated Brent minus $3.05 a barrel and Vitol a Nov 15-19 cargo at minus $2.80, but found no bidders as the asking prices were seen as too ambitious, traders said.  


Asian Traders Mull U.S. Crude Liftings in Harvey's Wake

File Image (CREDIT: AdobeStock / (c) mikesjc)

Harvey closed nearly a quarter of U.S. refining capacity; helping to push WTI-Brent spread to widest in two years.   Some oil traders in Asia are looking to snap up crude cargoes from the United States after Hurricane Harvey closed U.S


In Sign of Oil Rebalancing, North Sea Floating Storage Shrinks

The volume of global price benchmark North Sea crude being held in floating storage has declined sharply since mid-August, according to shipping data and trade sources, a sign that a long-awaited market rebalancing is gaining momentum. Two supertankers being used to store North Sea crudes


Hedge Funds Watch U.S. Refinery Restarts

File Image (CREDIT: AdobeStock / (c) Jason Lee)

Hedge funds are betting crude oil stocks will adjust quickly to the aftermath of Hurricanes Harvey and Irma but gasoline and distillate inventories may take more time to normalise.   Hedge funds and other money managers increased their combined net long position in the five major petroleum


ROG Ship Repair Completes FPSO Moonpool Project

The Aoka Mizu (Photo: ROG Ship Repair)

Holland’s ROG Ship Repair said it has come to the aid of a Floating Production & Storage Offshore (FPSO) vessel ran into problematic weather conditions while being towed from Europe to the Middle East.   Having recently been assigned a new contract, the 89,184 dwt, 248


Shaver Transportation Selects Rapp Marine Winch Package

Photo: Rapp Marine

Shaver Transportation of Portland, OR, operating vessels within the Columbia River region of the Pacific Northwest for over a hundred years, has selected Rapp Marine as the supplier of the two heavy-duty load handling winches on their latest tugboat.  


North Sea Forties Exports to Rise Significantly in September

File Image: a typical offshore North Sea installation (Credit: Craig International)

Exports of British Forties crude will be 380,000 barrels per day in September, up from 271,000 bpd in August, an industry source who has seen the loading programme said on Friday.   The programme consists of 19 cargoes of 600,000 barrels each, up from just 14 cargoes in August


d'Amico Tankers Updates Ship Sales and Purchases

Photo: ​ d’Amico ​Società di Navigazione SpA

 In January 2017, d’Amico Tankers sold MT High Endurance and MT High Endeavour, two 46,992 dwt medium-range product tanker vessels, built in 2004 by STX, South Korea, to Sea World Tankers a client of Sea World Management SAM, for a consideration of US$ 13.5 million each.   


Crowley Supports Platform Tow-out, Installation in US Gulf

(Photo: Crowley)

Crowley Maritime Corp.’s ocean class tugboats and 455-series high-deck strength barges recently played an integral role in the tow-out and installation of Hess’ Stampede tension-leg platform (TLP) in the deep waters of the U.S. Gulf.  


Oil Prices Dip as OPEC Oil Exports Rise

© Björn Wylezich / Adobe Stock

Oil prices edged lower on Friday and were on track for weekly losses, weighed down by rising OPEC exports and strong output from the United States.   Brent crude futures, the international benchmark, were trading at $51.76 a barrel at 1141 GMT


SBM Offshore Raises Outlook Buoyed by Deepwater Spending

File photo: SBM Offshore

SBM Offshore, a Dutch provider of floating oil and gas production vessels, raised its core earnings guidance on Wednesday citing clients slowly spending more on deepsea projects.   "Deepwater is becoming attractive again. It's on a par from an economic standpoint with shale oil


Gunvor Awarded Fortuna FLNG Offtake

The Ministry of Mines and Hydrocarbons (MMH), Ophir Equatorial Guinea (Block R) Ltd, OneLNG SA and La Compania Nacional De Petroleos De Guinea Ecuatorial (GEPetrol) have nominated Gunvor Group Ltd (Gunvor) as its preferred LNG Buyer for offtake from the Fortuna FLNG project


Total Overtakes Shell in North Sea Production

File Image: a typical offshore North Sea installation (Credit: Craig International)

Majors still control three quarter of output; even after $10 bln of deals, private equity still plays only modest role.   French oil major Total has overtaken rival Royal Dutch Shell to become the second-largest producer in the North Sea with its acquisition of Maersk's Norwegian and UK


Great Lakes Shipyard Builds First Damen Stan Tug

Handover Ceremony Photo: Damen

The first of 10 Stan Tug 1907 ICE vessels has been delivered by Great Lakes Shipyard to its sister company The Great Lakes Towing Company, both based in Ohio, U.S. Named Cleveland, the vessel marks a milestone in a licencing program agreed between Damen Shipyards Group and Great Lakes Shipyard


PBES Norway, Pangea Marine Trade Ink Agency Agreement

PBES and Pangea Marine Trade has announced the agreement to represent PBES energy storage for hybrid and fully electric commercial marine vessels in Southern Europe. “The hybrid power system of today is smart, proven technology, designed for ease of integration and uninterrupted performance


Noris Marine to Offer PBES Energy Storage to Southern Europe

Photo: PBES

PBES and Noris Automation GmbH has announced a partnership agreement to represent PBES energy storage for hybrid and fully electric commercial marine vessels. This further underscores the ongoing green shift that is now occurring in the commercial marine industry.  






 
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