Chemicals News

21 Apr 2019

Aramco Buys Shell's Stake in Saudi JV

Pic: Saudi Aramco

The Saudi Arabian Oil Company (Saudi Aramco) is  planning to buy oil major Shell's 50% stake in Saudi Aramco Shell Refining Co (SASREF), a Saudi refining complex developed as a joint venture between the two oil companies,  for $631 million.Abdulaziz Al-Judaimi, Saudi Aramco‘s Senior Vice President of Downstream, said: “The partnership with Shell has led to a strong record of performance and delivery of refined products. Saudi Aramco will take full ownership and integrate the refinery into its growing Downstream portfolio.

16 Apr 2019

Shannon Insulation Solutions for Passenger Vessels

Maid of the Mist VII engine room showing silencer and exhaust line fitted with Shannon reusable insulation.

Shannon Enterprises of W.N.Y. a designer, and maker of reusable thermal and acoustic insulation, has put in place a custom-designed insulation system for Maid of the Mist Corp.'s two vessels, Maid of the Mist VI and Maid of the Mist VII, to improve engine efficiency, safety and acoustics on board each vessel.As part of a modernization program for the boats' lighting and climate controls, Maid of the Mist's engineering team installed a new generation set - including two, 38 kW Northern Lights marine generators - for both vessels.

16 Apr 2019

Bahri Expands Footprint in Asia-Pac

Photo: Bahri

The National Shipping Company of Saudi Arabia (Bahri) has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry.The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region, said a press release from the logistics and transportation company.The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company…

15 Apr 2019

BP, Nouryon, Rotterdam Port Join for CO2 Cut

Pic: Port of Rotterdam

British multinational oil and gas company BP, Nouryon (formerly AkzoNobel Specialty Chemicals), and the Port of Rotterdam have joined forces to explore the opportunity of making “green hydrogen” via water electrolysis for BP’s refinery in Rotterdam, the Netherlands, which has the potential for significant reductions in CO2 emissions.The refinery currently uses hydrogen made from hydrocarbons, to desulphurize products. Replacing this entirely with green hydrogen produced from water using renewable energy could potentially result in a reduction of 350…

15 Apr 2019

Hyundai Heavy Sells Oil Stake to Saudi Aramco

Group photo of Saudi Aramco and HHIH executives and team members after the signing ceremony. Photo:  Saudi Arabian Oil Co.

South Korean shipyard Hyundai Heavy Industries sells its share of oil refinery Hyundai Oilbank to Saudi Arabian oil giant Saudi Aramco.According to a press release, Saudi Aramco’s subsidiary,  Aramco Overseas Company B.V (AOC) will purchase a 17% stake in South Korea's Hyundai Oilbank, a subsidiary of Hyundai Heavy Industries Holdings.The investment is valued at approximately $ 1.25 billion, it said.AOC’s’s investment in South Korea’s Hyundai Oilbank will support Saudi Aramco’s…

15 Apr 2019

ITC Faces Added Costs for March Fire & Spill

File Image:  An aerial view of the Houston Refining complex and ship channel / CREDIT: AdobeStock / © Irina K

The costs of a massive fire and chemical spill at a Houston petrochemical facility have begun trickling out, with a local official on Monday estimating emergency response costs at $800,000 for the first two weeks of the disaster alone.A blaze at Mitsui & Co Ltd's Intercontinental Terminals Co (ITC) petrochemical facility in Deer Park, Texas, last month released cancer-causing chemicals into the air and waterway that connects Houston to the Gulf of Mexico, disrupting shipping along the nation's busiest oil port.County employees devoted 16…

09 Apr 2019

Vopak Sells 3 Terminals First State Investments

Image: Royal Vopak

Dutch oil and chemicals storage company Royal Vopak has agreed to sell three terminals - Algeciras, Amsterdam and Hamburg - to First State Investments for 723 million euros ($812 million)."This divestment follows the strategic review of these terminals as announced on 17 August 2018. The transaction is subject to certain customary closing conditions and is expected to complete in the second half year of 2019. The combined operational capacity of the three terminals is 2,288,000 cbm…

01 Apr 2019

Navios Acquisition Disposes Oldest VLCC

Pic: Navios Maritime Acquisition Corporation

Navios Maritime Acquisition Corporation, an international shipping company, said that it  has sold the oldest vessel of its fleet, the C. Dream.According to a press release from the US-listed, Greece-based company, the 299,000-dwt very large crude carrier (VLCC) C. Dream (built 2000) is sold for $21.75m.The 323,967 cbm vessel, with a length of 332 meters and a width of 60 meters, was built in Hitachi shipyard in Japan.Navios Acquisition is an owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.

29 Mar 2019

Advanced Coatings Enhance Aesthetics, Durability and Safety

Maritime Partners launched the first of its new barges featuring coating systems from Sherwin-Williams in an inland waterway where it was ready to be put to work hauling commodities.

As Maritime Partners LLC built out its modern fleet of new tank barges, quality coatings and responsiveness to last-minute color changes supported that fleet expansion. Sherwin-Williams was there to meet the challenge.The hulking silhouette of a tank barge is instantly recognizable to anyone who has spent time on the shores of an inland waterway in the United States. These massive flat-bottomed vessels help to maintain the healthy functioning of the domestic economy, transporting vital commodities such as agricultural products, chemicals and petroleum products.

28 Mar 2019

Tanker Bottleneck Eases for Port of Houston

The sprawling Houston area refining complex adjacent to the Houston Ship Channel. CREDIT: AdobeStock / © Irina K)

Four tankers on Thursday were preparing to offload or pick up cargoes in the busiest U.S. oil port, the first signs of an easing of the bottleneck that cut 1 million barrels per day of shipments, according to vessel tracking data.The Houston Ship Channel reopened this week with operating restrictions following a fire at Mitsui & Co Inc's Intercontinental Terminals Co (ITC) in Deer Park, Texas. That blaze sent fuel and chemicals into the waterway, which connects Houston to the…

27 Mar 2019

IMO to Address Illicit Ship Registration

Pic: International Maritime Organization (IMO)

The legal committee of International Maritime Organization (IMO) will discuss a number of proposed measures to prevent fraudulent registration of ships and other deceptive shipping practices, during its 106th session (27-29 March).According to the UN body, this follows reports of fraudulent use of their flag by a number of IMO Member States.Amongst other agenda items, the Committee will consider the growing number of cases of seafarer abandonment and the orchestrated action needed…

25 Mar 2019

TX Refineries Cut Output as Spill Curbs Shipping

Royal Dutch Shell Plc and LyondellBasell Industries cut production on Monday at their Houston-area oil refineries because of shipping disruptions along a waterway affected by a petrochemical fire and spill, according to people familiar with the matter.A fire and fuel leak at Mitsui & Co Inc's Intercontinental Terminals Co (ITC) storage facility in Deer Park, Texas, last week sent gasoline, water and fire suppressant foam into the Houston Ship Channel, which connects Houston to the Gulf of Mexico, and is home to nine oil refineries.The U.S. Coast Guard said it was reopening portions of the channel to daytime travel and requiring vessels moving out of the area nearest ITC to be inspected for chemical contaminates.Houston Pilots…

20 Mar 2019

ITC: Houston Petrochemical Blaze Extinguished

File Image: the Houston petrochechemical refining complex (CREDIT: AdobeStock / © Irina K)

Firefighters on Wednesday extinguished a fire at a Mitsui & Co petrochemical storage site outside Houston that has been billowing acrid smoke for days, the company said.The blaze at Mitsui unit Intercontinental Terminals Co in Deer Park, Texas, was put out by 3 a.m., but fire crews continued to spray foam and water on the tanks to help keep them cool and prevent the fires from starting again, the company said in a statement.No serious injuries were reported, it said. Fire officials…

20 Mar 2019

Team Tankers CFO Resigns

Image: Team Tankers

Team Tankers International, the owner and operator of chemical tankers for the seaborne transportation of liquid chemicals worldwide, announced that Kevin Kilcullen has resigned his post as chief financial officer (CFO)."Kevin Kilcullen today tendered his resignation as Chief Financial Officer of Team Tankers International to pursue another professional opportunity," said a press release from the shippig company.The resignation will take effect on April 17, 2019 and he will continue with the Company until that date to ensure an orderly transition.Jens Gisle Schnelle…

19 Mar 2019

BW Group Buys LPG Carrier Epic Gas

Pic: BW Group

The world’s biggest operator of liquid petroleum gas ships BW Group has purchased majority stake of Epic Gas and is looking to buy the remaining shares completing the takeover.BW, based in Norway and Singapore, is making the move after acquiring a 54.7% stake from existing owners, said a press release.With the acquisition of the majority stake BW has launched an unconditional tender for all the remaining shares in Epic Gas at a price of $1.60 per share, plus an additional $3.5m divided across all the shares acquired in the offer…

19 Mar 2019

Fakes Make Up 3.3% of Global Trade

Image: Organisation for Economic Co-operation and Development

Trade in counterfeit and pirated goods, mostly originated in China, has risen steadily, posing a major challenge in an innovation-driven global economy, revealed a new study.Trade in counterfeit and pirated goods has risen steadily in the last few years – even as overall trade volumes stagnated – and now stands at 3.3% of global trade, according to a new report by the Organisation for Economic Co-operation and Development (OECD) and the EU’s Intellectual Property Office.Trends…

19 Mar 2019

Air Quality Monitored as TX Tank Blaze Rages

File Image: an aerial view of the port of Houston petrochemical refining complex. CREDIT: AdobeStock / © Irina K

Houston officials and environmental groups raced to expand air monitoring on Tuesday after a raging fire at a Mitsui & Co petrochemical storage site produced billowing acrid smoke that could be seen and smelled miles away.The blaze at Mitsui unit Intercontinental Terminals Co in Deer Park, Texas, burned for a third day after firefighting water pumps broke down for six hours on Monday evening, the company said.The fire began on Sunday when a leaking tank containing volatile naphtha ignited and flames quickly spread to nearby tanks…

19 Mar 2019

Navig8 in Sale, Leaseback Pact with China Bank

Pic: Navig8 Chemical Tankers Inc.

Navig8 Chemical Tankers  entered into sale and leaseback agreements with ICBC Financial Leasing for four ships.The tanker company focuses on the maritime transportation of Chemicals worldwide said in a press release that the net proceeds from the transaction of four of the Company’s IMO2 37,000 DWT Interline coated tankers  were $94,710,000.A portion of the proceeds was utilized to repay existing loans used to finance the Vessels’ newbuilding contracts under the multi-bank loan facility announced by the Company on February 3…

13 Mar 2019

V. Group Appoints Holland

Steve Holland (Photo: V. Group)

V.Group, a global marine support services provider, has announced that it has appointed Steve Holland as a non-executive director.Holland brings a wealth of knowledge and expertise garnered from over 30 years in chemical manufacturing and distribution. He is currently Chief Executive Officer of Brenntag, the world’s largest chemicals and ingredients distributor, operating in 73 countries with 16,000 employees.Holland began his career in research and development. In 2007, he was appointed Chief Executive Officer of the Brenntag European business and joined the Group’s management board.

12 Mar 2019

India Box Trade Grew 6% in Q4 2018: Maersk

Pic: Maersk

India’s containerised trade with the world has grown steadily, recording an overall import-export trade growth of 6% according to the Q4 2018 trade report released by Maersk, the world’s largest container shipping company.Increasing demand for refrigerated cargo from India coupled with improved trade relations with China with introduction of favourable trade policies, has driven exports to grow a healthy 3% in Q4.The demand for India-made goods such as vehicles, cereals and rice…

11 Mar 2019

Cheniere Completes 5th LNG Train at Sabine Pass

Sabine Pass LNG Terminal. Image: Cheniere Energy

Texas-based Cheniere Energy Partners said that that Substantial Completion of Train 5 of the Sabine Pass liquefaction project in Cameron Parish, Louisiana (the "SPL Project") was achieved on March 7, 2019."Commissioning has been completed and Cheniere Partners’ EPC partner Bechtel Oil, Gas and Chemicals has turned over care, custody, and control of Train 5 to Cheniere Partners," it said.Under sale and purchase agreements (SPAs) with Centrica plc and Total Gas & Power North America…

05 Mar 2019

Stena Bulk's IMOIIMAX Fleet a Success

Pic: Stena Bulk AB

The tanker shipping company Stena Bulk AB said that it has now had a fleet of 13 IMOIIMAX vessels of MR model on the market for a year, and an evaluation shows that the chemical vessels have been a success, both in terms of performance and business.An IMOIIMAX tanker has 18 separate tanks (3,000 m3/tank), which provides for large freedom of choice as regards combinations of cargoes. The IMOIIMAX vessels are also characterised by high safety and low fuel consumption."Utilization of and entry into the chemicals market has gone better than expected…

05 Mar 2019

Cheniere's First LNG Train Almost Complete

Image: Cheniere Energy

Cheniere Energy and Bechtel Oil, Gas and Chemicals said that they have achieved substantial completion of Train 1 of the Corpus Christi LNG Project.Commissioning is wrapped up and Bechtel has turned over care, custody, and control of Train 1 to Cheniere Energy.Jack Fusco – President and CEO of Cheniere said: “Train 1 at Corpus Christi has achieved Substantial Completion, becoming the first liquefaction train placed into operation at a greenfield liquefaction facility in the lower 48 states.Bechtel won the engineering…

Maritime Reporter Magazine Cover Apr 2019 - Navies of the World

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