Full Tanks & Tankers: A Stubborn Oil Glut Despite OPEC Cuts
After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. Investors hailed the drawdowns as the beginning of the end of a two-year supply glut - raising hopes for steadily rising per-barrel prices. It hasn't worked out that way. Now, many of those same storage tanks are filling back up or draining more slowly than investors and oil firms had expected, according…
UK Oil Imports Exceed Exports for First Time in 30 Years
Britain imported more oil products than it exported last year for the first time in 30 years, an official report shows, and analysts say the country is likely to stay dependent on overseas oil as its refineries close. Britain exported 26.2 million tonnes of products such as diesel, kerosene and jet fuel from its refineries last year, but imported 28.2 million tonnes, due to the closure of two major oil processing plants. "The U.K. was a net importer of petroleum products in 2013 for the first time since 1984, the year of the miners' strike," the UK's Department of Energy and Climate Change (DECC) said in its annual report. Coryton oil…
Shipbuilders Council Names McCreary Chairman
Shipbuilders Council of America names Richard McCreary as new chairman; honors Sen. Cochran and Rep. At its annual spring meeting in Washington, D.C. this week, the Shipbuilders Council of America (SCA), the national trade association representing the U.S. shipyard industry, named Richard McCreary of BAE Systems as the new chairman of the association. Additionally, SCA honored Sen. Thad Cochran (R-Miss.) and Rep. Duncan Hunter (R-Calif.) as recipients of its Maritime Leadership Award, recognizing the two for their demonstrated dedication and support of the U.S.
Sanctions May Cut Oil Flow as Ships Cancel Voyages
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, because sanctions are preventing Iran from selling oil, said Amrita Sen, an analyst at Barclay’s Capital in London. Half of the tankers booked to load at the country’s largest terminal last month didn’t complete the voyages, according to brokers, company officials and ship-tracking data. Ship owners are avoiding trade with Iran because U.S. financial sanctions are blocking payments, and the main providers of cover against risks, such as oil spills, are subject to the European Union’s ban on the purchase, transportation, financing and insurance of Iranian oil.
AWO Welcomes CVIDA Inclusion in Coast Guard Authorization Bill
The American Waterways Operators (AWO) said it welcomes the inclusion of the Commercial Vessel Incidental Discharge Act (CVIDA) and the recapitalization of the aging fleet of inland waterway tenders as part of the FY 2018 Coast Guard Reauthorization Act, which was approved today by the Senate Committee on Commerce, Science and Transportation by voice vote. CVIDA is bipartisan legislation that streamlines what is currently a broken regulatory system in which commercial vessels moving vital maritime commerce on U.S.
Chairman Announces Hearing on USCG Budget
U.S. Sen. Fritz Hollings, Chairman of the Senate Commerce, Science and Transportation Committee, announced an Oceans and Fisheries Subcommittee hearing on the Coast Guard budget on Tuesday, March 19, 2002, at 3:00 pm in Room 253 of the Russell Senate Office Building. Sen. John Kerry will preside.
AAPA Hails Senate Passage of Water Resources Development Act
The American Association of Port Authorities (AAPA) welcomed the U.S. Senate’s approval last evening of the long-pending Water Resources Development Act (S. 728), which addresses a six-year backlog of U.S. Army Corps of Engineers programs, including navigation projects, policies and procedures necessary to keep pace with today’s burgeoning trade. The bill also includes a number of important provisions for the Corps, such as an amendment proposed by Sens. Tom Carper (D-DE) and Arlen Specter (R-PA) to strike decommissioning language for the Corps dredge McFarland and lift restrictions on two other Corps dredges (the Yaquina and Essayons). “AAPA and our member ports are very pleased that this critical piece of legislation is finally headed to conference, thanks in large measure to Sen.
Senator Byrd Named Port Person Of The Year
U.S. Sen. Robert Byrd (D-WV) will be honored as the American Association of Port Authorities' (AAPA) "Port Person of the Year" at the port association's annual Washington People's Luncheon on April 1 in Washington, D.C.'s historic Willard Inter-Continental Hotel. AAPA - a trade organization representing the leading public ports in the Western Hemisphere - selected Sen. Byrd to receive its most prestigious annual award based on his strong advocacy in Congress for increasing cargo and facility security at America's seaports. In addition to receiving the "Port Person" award, Sen. Byrd will serve as the luncheon's keynote speaker. During his remarks…
Sen. Boxer Releases Bills Aimed at Preventing Spills
Sen. Barbara Boxer has released two bills in Washington aimed at preventing future oil spills like the one in the San Francisco bay last month. One of the bills would give more authority to the U.S. Coast Guard to control ships entering and exiting ports during emergency or hazardous conditions. The bill would also authorize $20m to upgrade the Coast Guard's vessel traffic service. The other piece of legislation would raise the liability limit for cargo ships. The bills have not yet been formally introduced. The Cosco Busan cargo ship spilled 58,000 gallons of oil into the bay on Nov. 7.
Northrop Grumman Newport News to Lay Keel
Northrop Grumman Corporation's Newport News sector is teamed with Electric Boat to build the first four ships of the Virginia-class. Texas is the second ship of the class and the first one that will undergo final assembly and delivery at Newport News in 2005. The keel that will be laid for Texas is part of the stern section of the ship. The keynote speaker for the ceremony will be U.S. Sen. John Warner of Virginia. Corporation Chairman and Chief Executive Officer Kent Kresa, Northrop Grumman Newport News President Tom Schievelbein, Virginia Gov. Mark R. Warner, Secretary of the Navy Gordon England, U.S. Sen. Boat President Mike Toner. Ceremony attendants will include both Northrop Grumman Newport News and Electric Boat employees who are building Texas, U.S.
USS Chafee Joins The Fleet
On a crisp fall morning in Newport, R.I., friends, family, veterans and special guests gathered to watch as USS Chafee (DDG 90), the Navy's newest warship, was formally commissioned honoring the late Sen. John H. Chafee of Rhode Island. Chafee, a decorated Marine veteran of World War II and Korea, also served as Secretary of the Navy prior to being elected U.S. senator. With the historic and now retired aircraft carriers USS Forrestal (CVA 59) and USS Saratoga (CV 60) in the background, more than 6,000 supporters braved the blustery winds off Narragansett Bay to witness the historic commissioning. Speakers included U.S. Senators from Rhode Island Jack Reed and Lincoln Chafee, son of the ship's namesake. "Today is a proud day," said Reed. "This ship bears an even prouder name. Sen.
AAPA Selects Panama's President as Port Person of the Year
At its annual Spring Conference yesterday, the American Association of Port Authorities (AAPA) announced the selection of Panama President Martin Torrijos as the associationâ€™s â€œPort Person of the Yearâ€ for his leadership in promoting maritime commerce. Specifically, President Torrijos is being honored for his efforts to spearhead the US$5.5 billion project to expand the 92-year-old Panama Canal, and to promote continued development of Panamaâ€™s seaports. â€œThe Panama Canal expansion will have a profound effect on United States, Canadian, South American and Caribbean maritime businesses and will help facilitate the movement of the dramatic increases in global trade expected in the coming years,â€ said AAPA President and CEO Kurt Nagle.
Collins to Speak At Maine Maritime Commencement
Maine Maritime Academy announced that U.S. Sen. Susan Collins (R-Maine) will address the graduating class at the college’s 64th commencement on May 5. Collins was elected to represent Maine in the United States Senate in 1996. Upon taking office, she was the first freshman senator ever to serve as chairman of the Permanent Subcommittee on Investigations. Following her re-election in 2002, Collins became chairman of the Homeland Security Committee. The committee presides over the Department of Homeland Security and works closely with other Senate committees that deal with agencies such as the U.S. Coast Guard, Transportation Security Administration and Customs and Border Protection. She is also a member of the Armed Services Committee.
Oil Producers Left Out of Emergency Spending Bill
U.S. Senate and House negotiators have left out several programs in a nearly $15 billion emergency spending bill that would have helped U.S. oil and natural gas producers. While language was left in the spending measure to delay new royalty valuation rules on crude oil production, lawmakers rejected separate programs to provide emergency loans and other royalty relief to small oil and natural producers. Negotiators also turned down a proposal to allow natural gas producers to forgo paying hundreds of millions of dollars in interest due on refunds to customers. The original intent of the emergency spending bill, which will be voted on by the full Congress and then sent to President Clinton for his approval, was to provide money to fight the war in Yugoslavia. Oil Royalties: Sen.
Senate Salvages Shipbuilding Cash
The Hilll is reporting that the Senate narrowly defeated an effort to strike $500 million in hurricane-recovery funding for defense giant Northrop Grumman from a $106.5 billion emergency supplemental spending bill, voting 47-52 to reject an amendment by Sen. Tom Coburn (R-Okla.). The provision is said to promise a point of contention in a House-Senate conference because the House-passed version would make $250 million available to Navy shipbuilders on the Gulf Coast, including Northrop Grumman. Source: The Hill
Proposal to Legalize Riverboat Gaming
Assembly Concurrent Resolution (ACR) 23, sponsored by Assemblywoman Nilsa Cruz-Perez (D-Camden, Gloucester), proposes a constitutional amendment authorizing the New Jersey State Legislature to legalize riverboat gaming if a bordering state authorizes casino gaming. Senate Concurrent Resolution 15, sponsored by Sen. Wayne R. Bryant (D-Camden, Gloucester) is identical to ACR 23.
Sen. Feinstein Introduces Seaport Protection Bill
Senator Feinstein (D-CA) introduced a bill (S. 2895) to enhance the security of the United States by protecting seaports, and for other purposes.
Comprehensive Seaport and Container Security Act of 2002
The official text of the Comprehensive Seaport and Container Security Act of 2002, introduced by Sen. Feinstein (D-CA) on the last day before Congress recessed for the summer, has been released.
Collins Joins Snowe For Tour
The commandant of the Coast Guard, Adm. Thomas Collins, is in Maine Wednesday, joining U.S. Sen. Olympia Snowe for a tour of the Coast Guard base in South Portland, according to WMTW.com, touring the recently established Coast Guard Sector Northern New England. Snowe chairs the Senate Commerce Subcommittee on Fisheries and the Coast Guard.
Senator Nelson Calls for More Security Money
U.S. Sen. Bill Nelson called on Congress and the administration to do more to sufficiently fund port security or risk a potentially devastating attack at one of the nation's coastal sites believed to be highly vulnerable to terrorists. Without more funds for seaport security, Nelson told port officials in Tampa today, the United States won't be able to significantly increase the inspection rate of arriving shipping containers, which is now at just 3 percent. Nelson, like Florida's senior U.S. Sen. Bob Graham, believes that the nation's 361 ports remain among its most vulnerable assets. On Friday, he met with port officials to discuss the president's new budget proposal for port security. That proposal was just blasted by another of Nelson's key Senate colleagues, U.S. Sen.
Senate Approves FY 2006 Emergency Supplemental Appropriations Bill
The American Association of Port Authorities (AAPA) praised the U.S. Senate Appropriations Committee for approving the FY 2006 Emergency Supplemental Appropriations bill, which would result in a major boost in security funding for America’s seaports. As part of the bill, the committee approved an amendment, offered by Sen. Robert Byrd (D-WV), which would provide an additional $648 million in resources for radiation portal monitors, container inspections, port inspections and port facility security grants. “Securing America’s seaports, which are essential for the nation’s economic growth, vitality and way of life, must be a top national priority,” said AAPA President/CEO Kurt Nagle.
Cutter Home-Porting Ceremony Slated
The home-porting ceremony for the Coast Guard cutter Long Island is scheduled for June 28, at 10 a.m. followed by a reception. The ceremony and reception will occur outdoors at the head of the Coast Guard Pier, near Coast Guard Marine Safety Office's Public Works parking area on Fidalgo St. here. Keynote speakers for the ceremony include Honorable Sen. Ted Stevens and Sen. Lisa Murkowski, Alaska State Gov. Frank Murkowski, Admiral Thomas H. Collins, Commandant, U.S. Coast Guard; Rear Adm. James W. Underwood, Commander, 17th Coast Guard District; and Valdez Mayor Bert Cottle. Cutter Long Island and the Marine Safety Office's maritime homeland security small boats, berthed at the Valdez Coast Guard Pier, will be open for public visitation from 11:30 a.m. to 1 p.m.
NOAA Awards $315K for Great Lakes Restoration Program
National Sea Grant College Program. NOAA is an agency of the U.S. Department of Commerce. strategies used by other regions. $473,000. environment," said retired Navy Vice Adm. Conrad C. administrator. Lakes. need for additional funding. revitalized Great Lakes ecosystem," said Sen. said Sen. share jurisdiction. of Great Lakes Governors' restoration initiative.