US Oil Platform on Fire in Gulf Of Mexico
An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.S. Coast Guard said. Fire-fighting crews worked to contain the fire on Friday near Breton Island, 50 miles (80 km) offshore New Orleans, the Coast Guard said. All 28 people were evacuated from the platform. It was unclear what caused the incident or how much oil leaked into the ocean, but the Coast Guard said it has observed a 1.4 nautical mile rainbow sheen drifting southwest of the platform. The platform, owned by Texas Petroleum Investment Co, has an estimated 4,000 barrels of crude oil on board, the Coast Guard said. It was not clear if the company also operated the well.
Baltic Index up With Rising Capesize and Smaller Vessel Rates
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, continued to rise on Monday, supported by positive capesize and smaller vessel rates. The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, was up three points, or 0.51 percent, at 594 points. The capesize index rose 12 points, or 2.84 percent, to 435 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $33 to $4,207. The panamax index remained flat at 617 points. Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grains, slipped by a dollar to $4,940.
Baltic Index Advances with Rising Cry Commodity Vessel Demand
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, was lifted on Thursday by higher demand across all vessel segments. The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, was up 13 points, or 2.28 percent, at 584 points. "The spot dry bulk market is in line for a positive jolt as three key pieces have lined up positively for the first time in several months: rising steel prices, wider steel margins and cheaper imported iron ore into China," said Omar Nokta of Clarkson Capital Markets. The panamax index rose nine points, or 1.49 percent, to 613 points.
Faltering Capesize Demand Drags Baltic Index
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, slipped further on Thursday on extended weaker demand for bigger vessels. The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 5 points, or 0.88 percent, to 560 points. The capesize index fell 37 points, or 8.58 percent, to 394 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $264 to $4,093. The panamax index slipped 2 points, or 0.34 percent, to 586 points. Average daily earnings for panamaxes…
Baltic Index Retreats with Falling Capesize Demand
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, slipped on Wednesday. The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 3 points, or 0.53 percent, to 565 points. The Baltic's capesize index fell 26 points, or 5.69 percent, to 431 points. "A cyclone outside Australia is threatening to close the Dampier port and as a consequence miners are withdrawing from booking vessels as their schedules are unclear," RS Platou Markets analyst Frode Morkedal said in a note on Wednesday. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $242 to $4,357.
Duke Energy Fined for Environmental Violations
Duke Energy Corp has agreed to pay a fine of about $102 million for environmental violations related to a power plant's coal ash spill into a North Carolina river last year and the company's management of coal ash basins in the state. Duke set aside $100 million in the fourth quarter in anticipation of the settlement, the company said in an earnings statement. The U.S. Department of Justice fined the company for five Clean Water Act violations at its Dan River and Riverbend steam stations and four Clean Water Act violations at the company's H.F. Lee Steam, Cape Fear and Asheville electricity-generating plants, according to a company statement on Friday.
Baltic Index Continues Slide as Rates Drop
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, continued its slide on Monday, hitting a new near-three decade low as rates for all four vessel segments fell. The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, was down 18 points, or 2.96 percent, at 590 points, the lowest since August 1986. "The dry bulk market has seemingly gone dead silent, with worries circulating amongst many owners that there is little reason to operate vessels under the currently prevailing freight rates," George Lazaridis, head of market research and asset valuations at Allied Shipbroking, said in an weekly shipping market note published on Monday.
Baltic Index Slips with Falling Panamax Rates, Capesize Revives
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell further on Wednesday, dragged down by decreasing panamax rates. The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, shed 6 points, or 0.76 percent, to 782 points. The Baltic's capesize index inched up 2 points, or 0.42 percent, to 474 points - the first upward movement since November 21, after the index hit its lowest on record on Tuesday, according to data available on the Baltic Exchange website that dates back to March 1999. Average daily earnings for capesize vessels rose on Wednesday, settling up $35 at $4,945.
Arthur Becomes Atlantic's First Hurricane of 2014
Storm Arthur became the first hurricane of the 2014 Atlantic hurricane season, the U.S. National Hurricane Center (NHC) said on Thursday. Arthur was about 190 miles (305 km) south-southwest of Cape Fear, North Carolina with maximum sustained wind of 75 mph (120 kph), NHC said. (Reporting by Anupam Chatterjee in Bangalore; Editing by Alison Williams)
Williams Gauges Shippers' Interest in Mississippi Natgas Storage
Williams Cos Inc's Transcontinental Gas Pipeline Co (Transco) unit on Tuesday announced an open season to gauge interest in natural gas firm storage capacity at its Eminence Storage Field in Covington County, Mississippi. The open season, which runs from June 3 to July 16, is for storage service for up to 8.7 billion cubic feet per day of withdrawal and 7.3 billion cubic feet per day of injection as 7 well as a storage capacity of 73.1 billion cubic feet. The capacity will become available on Aug. 1, 2014. According to a website posting, the Eminence salt cavern storage facility has a current operating capacity of nearly 12 billion cubic feet.
Duke Energy To Clean Up Ash In Dan River
Duke Energy Corp has agreed to find and remove coal ash that a retired North Carolina power plant spilled into the Dan River, which provides drinking water to two towns in nearby Virginia, U.S. environmental regulators said on Thursday. The U.S. Environmental Protection Agency (EPA) will oversee the cleanup, and Duke will reimburse EPA for current and future costs, a statement issued by the EPA said. On Feb. 2, a 48-inch (122-cm) stormwater pipe beneath a coal ash pond ruptured at the retired Eden coal plant and released between 24 million and 27 million gallons (91 million to 102 million liters) of wastewater and as many as 39,000 tons of coal combustion residue into the Dan river that supplies drinking water to two towns in Virginia.
