New Patrol Boats Delivered in Curacao
Four new high-speed patrol boats commissioned on the island of Curacao are the first to be delivered to the Dutch Caribbean Coast Guard (DCCG) under a 12-boat order announced last year.The welded aluminum 38 Defiant monohull patrol boats were designed and manufactured by Louisiana based shipbuilder Metal Shark as the result of a multi-year effort by the DCCG to procure a replacement for its fleet of open-cockpit rigid-hulled inflatable boats (RIB).The new enclosed-pilothouse vessels will serve as the DCCG’s main interceptors, patrolling the territorial waters of Aruba, Bonaire, Curacao, St.
PDVSA Retrenches in Caribbean
Venezuela's PDVSA will let the 335,000 barrel-per-day refinery it leases in Curacao halt operations once crude inventories are exhausted as no new shipments are planned to the Caribbean following ConocoPhillips's legal actions, according to two sources.PDVSA is also changing its trade arrangements to start delivering all its oil for exports in Venezuelan waters, including the ship-to-ship transfers that have to be made for sending cargoes to Asian destinations.Conoco last week started several legal actions to satisfy a $2 billion arbitration award issued by the International Chamber of Commerc
Conoco Seized PDVSA Products from Isla Refinery
U.S. oil major ConocoPhillips has seized products belonging to Venezuelan state oil company PDVSA from the Isla refinery it runs on Curacao, an island official told Reuters on Sunday.Conoco has won court orders allowing it to seize PDVSA assets on Caribbean islands, including Curacao, in efforts to collect on a $2 billion arbitral award linked to the 2007 nationalization of Conoco assets under late leader Hugo Chavez.“PDVSA products from the installations of the Isla refinery have been confiscated.
Metal Shark is Competing - and Winning - Here and Oversees
U.S. shipbuilder Metal Shark powers into the second half of 2018 with a healthy backlog, multiple recent deliveries into foreign markets, and a portfolio of patrol craft that has attracted multiple clients – here and abroad.At a time when more than a few workboat builders are feeling the pain of lingering offshore malaise and an oversupplied inland market that no longer needs large quantities of barges, Louisiana-based Metal Shark has found its groove in a suddenly active and highly competitive niche market.
Curacao Carves A Cruise Niche
Riding the often tumultuous waves of freight rate boom and bust, Curacao Drydock has carved a unique niche of business in this Caribbean paradise. Since August 2000 the Curacao Drydock Company started to feel the effect of an improving cargo market. The amount of inquiries doubled since the first six months and the amount of bookings followed soon. Instead of patching of the ships, the owner decided to stop his ship for a few days to make sure the vessel is in good shape, ready to enter the better paid charter. Times, though, have been different. In 1998 and 1999, the cargo market was so depressed that owners could not afford to carry out many repairs. The school of thought at this time was to keep the vessel trading as long as possible.
Grandeur Of The Seas Loses Power Near Curacao
The Royal Caribbean International cruise ship Grandeur of the Seas experienced a loss of electrical power while approximately 7.5 miles outside of Curacao. "The ship's 2,040 guests and 842 crew members are in no danger," said Jack Williams, president of Royal Caribbean International. "Their safety and comfort are our first concerns. After the outage, the four-year-old ship was functioning on emergency generators. Air conditioning, lighting and plumbing functions were fully restored soon after. The company coordinated with local marine officials to have tugs tow the ship to the port of Willemstad, Curacao. Additional marine operations personnel are being flown on a chartered jet to Curacao to assist with repairs.
Mobil-Brand Marine Lubricant Service Available
Mobil Corporation's affiliates will now offer marine lubricant service to shipping companies calling on ports located in the Dominican Republic, Curacao, Aruba and Bonaire. A full range of Mobil-brand marine lubricants is available in 11 ports in the Dominican Republic, as well as the ports of Willemstad and Bullenbaai in Curacao; Oranjestad in Aruba and Kralendijk in Bonaire.
Venezuelan Crude Sales to US Declined 7% in March
Exports of Venezuelan crude to the United States fell almost 7 percent in March versus the same month of 2015 to 793,581 barrels per day (bpd), according to Thomson Reuters Trade Flows data, affected by delays at the country's main oil port. Even though the sales recovered versus the previous two months, when they hit record lows, the increase was not enough to reach last year levels. State-run oil company PDVSA and its joint ventures sent 52 crude cargoes to the United States last month, according to the data, made with preliminary figures. PDVSA's refining unit, Citgo Petroleum, was the main receiver, along with Valero Energy , Phillips 66 and Chevron Corp.
Venezuelan Crude Sales to the US Down in March
Venezuelan crude oil sales to the United States declined in March for the third month in a row this year to 651,710 barrels per day due to falling exports of main grade Merey, according to Thomson Reuters trade flows data. Venezuela's crude output fell in 2016 to its lowest level in 23 years. Analysts expect another decline in 2017 due to lack of investment and to cash flow problems affecting state-run oil firm PDVSA, which controls more than 40 joint ventures for exploration and production. The volume of Venezuelan crude that PDVSA and its joint ventures exported in March was down by 2.3 percent from February and by 18 percent from a year earlier.
PDVSA to Receive US Crude Cargo from BP
Venezuela's PDVSA will discharge in the coming days its first cargo of U.S. crude bought from British BP, who along with China Oil was awarded a tender to supply the state-run company with some 8 million barrels in the second quarter, traders close to the deal told Reuters on Wednesday. PDVSA, who is facing delays to load and discharge tankers at its main crude port, Jose, will receive the cargo at the neighboring island of Curacao where it operates a storage facility, according to Thomson Reuters vessel tracking data. The number of tankers waiting to load and discharge at PDVSA's Bullenbay terminal in Curacao has fallen in recent days, the data say, but it has not eased around Jose. The tanker Krymst was loaded with 500,000 barrels of West Texas Intermediate crude at the U.S.
BP Shipping U.S. Crude to PDVSA's Terminal
British BP has shipped a U.S. crude cargo to PDVSA's terminal in Curacao, the third one that the firm has sent since winning a tender along with China Oil last month to provide the Venezuelan state-run company with some 8 million barrels of light oil, according to sources and Reuters data. Venezuela started regular crude purchases last year and since then it has been launching tenders on the open market for at least one monthly cargo. In March it decided to secure provisions for the whole second quarter, doubling crude imports to some 95,000 barrels per day (bpd). The tanker NS Century chartered by BP loaded crude this week at Beaumont and Port Arthur, Texas, on the U.S. Gulf Coast and set sail to PDVSA's Bullenbay terminal on the Caribbean island of Curacao.
Aumann Named CEO of Oman Drydock
Stephan Aumann has been appointed by ASYAD (formerly Oman Global Logistic Group) board of directors as the new CEO of the Oman Drydock Company S.A.O.C. in Duqm/Oman. Aumann assumed the role June 15 and replaced the former CEO Jin Han Lee (DSME), who advised at the end of 2016 that he would be stepping down. With a bachelor's degree in naval architecture and a master degree in industrial engineering from the University of Applied Sciences in Kiel/Germany, the 50-year-old German…
Oil Markets Brace for Possible US Sanctions on Venezuela
U.S. oil markets were readying for fallout from potential U.S. sanctions on Venezuela's vital oil sector on Monday after Sunday's election in the struggling country was deemed a "sham" by Washington. Venezuelan President Nicolas Maduro on Monday celebrated the election of a new legislative superbody that will have the power to dissolve state institutions such as the opposition-run Congress. Countries around the world denounced the vote. U.S. crude futures jumped above $50 a barrel for the first time in two months early in the session before retreating, after U.S.
BP Receives its First Venezuelan Crude Cargo under Swap Deal
Britain's BP Plc this month received a Venezuelan crude cargo from state-run PDVSA, according to Thomson Reuters trade flows data, the first since the companies agreed on a swap arrangement to settle pending payments for U.S. oil shipments. BP and China Oil won a tender launched by PDVSA in March to be supplied with U.S. and African light oil during the second quarter of this year. The light oil is needed to dilute Venezuela's extra heavy output and for processing at Caribbean refineries. After cash-strapped PDVSA did not make payments on time, BP in May halted further discharges of cargoes of U.S. crude at the port of Curacao. Then a swap agreement was reached involving deliveries of Venezuelan oil to BP as payment for the U.S. crude, a source close to the talks said earlier in June.
Saab's KleinPort Contracted for Curacao Ports Authority
Defence and security company Saab has been awarded a contract from the Curacao Ports Authority to install the latest version of Saab’s KleinPort for the Authority’s new Harbor Management System. Curacao Ports will be using KleinPort to manage its multi-harbor operations. System functionality includes the scheduling of vessel traffic and services, the dispatch of pilots and tugs, the recording of cargo data, full tariff billing and provision of comprehensive management reporting. “Curacao Ports required a new harbor management system that also met the needs of its tug subsidiary, KTK.
PDVSA Charters Another Algerian Crude Cargo
Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data. Venezuela will start importing light crude this month with a shipment of Algerian Saharan Blend scheduled to arrive at its Jose terminal on Oct. 26. Two additional cargoes of Russia's Urals crude were bought from Petrochina to be received at Isla refinery, operated by PDVSA on the Caribbean island of Curacao. This week, PDVSA booked the VLCC Boston to load around October 25 at the port of Arzew, according to a shipping report. It is not clear yet if this second Algerian crude cargo will be received in Venezuela or at one of PDVSA's terminals in the Caribbean, such as Bonaire, Curacao or Saint Eustatius.
US Crude Oil Exports Plunge in June
U.S. crude oil exports plunged by more than 40 percent in June, foreign trade data from the U.S. Census Bureau showed on Friday, after Brent's premium to U.S. crude hovered in a tight band earlier this year. Total exports dropped to 383,000 barrels per day from May's record of 662,000 bpd, according to data compiled by Reuters. Exports to Canada were 280,000 bpd versus 308,000 bpd a month prior. Exports to United Kingdom were 37,000 bpd, nearly unchanged from May. Meanwhile, exports to Curacao were 17,000 bpd, a sharp drop from May's 67,000 bpd. The export declines were likely a result of Brent's May and June contracts having traded in such a tight band to U.S. crude earlier this year. At one point, Brent even briefly traded at a discount. Typically, a wide premium for Brent over U.S.
How the Marshall Islands became a top U.S. Crude Destination
Best known for diving, lagoons and the island that gave the world the name for the bikini swimsuit, the Marshall Islands is now gaining attention as a top-five destination for U.S. crude exports despite the lack of a refinery to process the oil. The shipments to the Marshall Islands, a tiny atoll nation in the middle of the Pacific Ocean, are a quirk of U.S. regulations, providing a vivid example of how traders carry out arbitrage opportunities and how fuel is supplied to some of the world's most remote regions. Since the removal of restrictions on exporting U.S. crude in December 2015, the oil has gone to a rising number of countries, with an average monthly volume of over 500,000 barrels per day (bpd), according to figures from the U.S.
Oil Tankers Backlog Builds Up in Venezuela
A backlog of tankers waiting to unload around Venezuela has built up, even though a crude cargo from France's Total and another six tankers carrying products were recently discharged at state-run PDVSA's ports after weeks of delays, according to Reuters tracking data and shippers. Several oil providers and PDVSA have agreed to a type of prepayment mechanism that involves loading cargoes and paying for them just before delivery, but even so some unpaid cargoes have been swirling around Venezuelan ports since November, traders said. A dozen and a half tankers, mostly carrying refined products, were anchored around Venezuela and Curacao - where PDVSA operates a refinery and a storage facility - waiting to discharge as of Dec. 2, according to Reuters vessel tracking data.
Conoco Moves to Seize PDVSA's Caribbean Assets
U.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela's state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three sources familiar with its actions. The U.S. firm targeted facilities on the islands of Curacao, Bonaire and St. Eustatius that accounted for about a quarter of Venezuela's oil exports last year. The three play key roles in processing, storing and blending PDVSA's oil for export.
PDVSA Diverts Crude Tanker from Curacao
Venezuela's state-run PDVSA ordered a tanker carrying Russian oil that was waiting to discharge at its Curacao terminal to divert to Venezuelan waters after ConocoPhillips introduced an order in a Caribbean court to seize its inventories and other assets in the island, according to a shipper and Reuters data on Tuesday.The Aframax tanker British Cygnet loaded crude at Russia's Primorsk terminal in April. It arrived in Curacao's Bullenbay terminal, operated by PDVSA, on Sunday…
Tightening Noose: Venezuela's Crisis Deepens
The news that Venezuela's PDVSA has diverted a crude tanker from Curacao after ConocoPhillips moves to satisfy a $2 billion arbitration award signals that worst may be yet to come. Reuters is reporting that Venezuela's state-run PDVSA ordered a tanker waiting to discharge at its Curacao terminal to divert to Venezuelan waters after ConocoPhillips introduced an order in a Caribbean court to seize its inventories and other assets in the island, according to a shipper and Reuters data on Tuesday.
PDVSA Halts Caribbean Storage, Shipping; Diverts Oil Cargo
Venezuela's state-run PDVSA suspended oil storage and shipping from its Caribbean facilities following a move by ConocoPhillips to temporarily seize the firm's assets on four islands, according to a PDVSA source and Reuters data.PDVSA has begun concentrating most shipping in its main crude terminal of Jose on Venezuela's eastern coast and recalling tankers to Venezuelan waters to avoid seizures that would further cut its exports and worsen an economy on the verge of collapse.U.S.…