Energy Products News

27 Nov 2019

Orsted Raises $660m Green Finance

Image: Ørsted

Denmark-based energy giant successfully issued green hybrid capital securities for €600m ($660m) to refinance existing securities issued in 2015.The latest issue will have a maturity in 3019 and first call option after eight years, the Danish energy company said.Investments undertaken by Ørsted A/S in green renewable energy projects will be allocated to the new issue corresponding to the amount issued in accordance with Ørsted’s Green Finance Framework, which has received a second opinion with a Dark Green shading from Cicero.Ørsted A/S is rated Baa1…

15 Nov 2019

Tech Makes Gothenburg Port Smarter

Pic: Gothenburg Port Authority

The Gothenburg Port Authority recently launched a data system designed to coordinate and monitor work at the Port of Gothenburg Energy Port, the largest open access energy terminal in Sweden, handling more than 20 million tonnes of energy products annually."The ultimate outcome of the digital solutions is more rapid and more efficient handling of goods - quicker, safer, and less administration," claimed the port authority in a press release.“We operate in a high-intensity environment where safety is our first priority.

02 Sep 2019

Naval Architecture and Marine Engineering Tops for Jobs

Naval architecture and marine engineering degrees can lead to major job opportunities and high-salary careers. 

(Photo: © Adobe Stock / Aleksandr)

The results of a recent survey conducted by financial services company Bankrate, LLC show that naval architecture and marine engineering take the top spot as the most valuable college degrees in which to major.A total of 162 degrees were covered in the company’s research. Drama and theater arts, on the other hand, were shown to be the least valuable degrees in terms of earning power after graduation. The survey revealed that the overall median income for those trained to build, design and maintain maritime vessels was $90,000 and that less than 2 percent of degree holders were unemployed.

12 Aug 2019

Corvus Energy Gets Shell Ventures Investment

Pic: Corvus Energy

Canadian-Norwegian battery maker Corvus Energy announced that it has finalized an investment deal with Shell Ventures.The investment is a step towards Shell’s ambition to decrease the carbon footprint of the energy products they sell by around 20% by 2035 and by around 50% by 2050, in step with society.Corvus Energy,  the developer and supplier of advanced energy storage systems (ESS) for maritime, offshore, subsea and port applications, said that the investment will help Corvus…

30 Jul 2019

For China, U.S. Soybeans are Small Fry

File Image: AdobeStock / © Igor Strukov

China's purchase of some U.S. soybeans is being viewed as a tentative sign of a little détente in the dispute between the world's two largest economies, but real progress would be a resumption of what had been a burgeoning energy trade.U.S. and Chinese negotiators are meeting for two days of talks in Shanghai starting on Tuesday amid modest expectations for progress to resolve the trade imbroglio that has resulted in tit-for-tat tariffs being imposed on billions of dollars worth…

03 May 2019

Flood-Swollen Mississippi River Closed at St. Louis

The Mississippi River as it winds around the St. Louis Arch on a better day. CREDIT: St. Louis Regional Freightway.

The U.S. Coast Guard said it closed the Mississippi River near St. Louis to boat and barge traffic on Friday as excessive rains and heavy snow melt this spring swelled the major shipping waterway to near record levels.The river - a key transportation artery for shipments of grain, agricultural chemicals, energy products and other commodities - is closed from river mile marker 179 to 184, the Coast Guard said."The Mississippi is closed to all vessel traffic due to extremely high water levels and fast-moving currents," said U.S.

09 Apr 2019

Gothenburg Port Intros New Bunkering App

The Gothenburg Port Authority's newly developed bunkering app makes bunkering operations easier and more efficient. Photo: Gothenburg Port Authority.

The Gothenburg Port Authority launched a digital solution designed to make bunkering at the Energy Port easier and more efficient.The new ‘Bunkering App’ is one of the first in the world to offer this range of functionality, said a press release from the  largest port in the Nordic countries.The Port of Gothenburg Energy Port is the largest open access energy port in the Nordic region, handling over 2,500 calls and more than 23 million tonnes of energy products each year. The Energy Port is also one of the world's larger bunkering hubs.

01 Apr 2019

CN to Invest $320mln in Ontario

Pic: CN Rail

Canadian National Railway (CN) said that it plans to invest approximately $320 million in Ontario in 2019 to expand and strengthen the company’s rail network across the province.CN’s Ontario rail network stretches across the province, and the GTHA is home to MacMillan Yard, CN’s largest rail car classification facility, and Brampton Intermodal Terminal, CN’s largest intermodal facility.“Following a record capital program in 2018, CN has been able to take on more traffic from different commodity sectors based on contracts with our customers…

21 Mar 2019

CN to Invest $345mln in British Columbia

Image: CN Rail

Canadian National Railway (CN) said it plans to invest approximately $345 million across British Columbia in 2019 to expand and strengthen the Company’s rail network throughout the province.“Following a record capital program in 2018, CN has been able to take on more traffic from different commodity sectors based on contracts with our customers. This year, CN is planning to invest even more than last year to continue boosting capacity and network resiliency and to meet growing traffic on our corridors across B.C.,” said Doug Ryhorchuk, Vice-President of CN’s Western Region.The B.C.

18 Mar 2019

CN Invests $245mln in Expansion

Pic: CN

Canadian National Railway (CN) said it plans to invest more than $245 million in Saskatchewan in 2019 to expand and strengthen the company’s rail network across the province.“Following a record capital program in 2018, CN brought on 25% more qualified train conductors in Western Canada and added over 10% more active high horse power locomotives to its network. This year, CN is investing $35M more than last year to bring greater capacity to CN’s mainline to benefit all commodities…

23 Jan 2019

Port of Gothenburg Freight Volumes up 17% in 2018

In 2018, 753,000 containers (TEU) were handled at the Port of Gothenburg. Photo: Gothenburg Port Authority.

Container volumes at the Swedish port of Gothenburg were 753000 teu in 2018, a 17% rise on the previous year, the port authority said."Volumes for 2018 reveal an upturn for containers of 110,000 TEUs, a rise of 17 per cent on 2017. The number of containers transported by rail during 2018 increased by 13 per cent," said a press release from Gothenburg Port Authority.Energy products, intra-European ro-ro units and new cars all fell by one per cent, albeit in relation to the high comparative figures for these three segments in 2017…

15 Jan 2019

Shell Joins Dutch Pension Fund to Bid for Eneco

Pic: Eneco

British-Dutch oil and gas company Royal Dutch Shell and Dutch pension fund manager PGGM are considering a joint bid for Dutch producer and supplier of natural gas Eneco, which is heavily invested in sustainable energy projects and worth an estimated USD 3.4 bln.This consortium is impressed with Eneco’s achievements in transforming the Dutch energy system through investments in sustainability and renewable energy. PGGM and Shell combine the knowledge, ambitions and financial commitment…

09 Dec 2018

Tellurian in LNG Supply Deal with Vitol

Pic: Vitol

Tellurian announced that its subsidiary, Tellurian Trading, has entered into a Memorandum of Understanding (MOU) with Vitol to supply 1.5 million tonnes per annum of liquefied natural gas (LNG) from Tellurian Trading’s LNG offtake capacity at the proposed Driftwood LNG export terminal.According to a press release, the transaction price is based on the Platts Japan Korea Marker (JKM) and is for a minimum term of 15 years.Under the MOU, Tellurian and Vitol have agreed to negotiate a LNG Sale and Purchase Agreement (SPA) under which Vitol will purchase LNG free on board (FOB).

05 Nov 2018

IFM, Vitol and VIP Take Joint Ownership of Vitol Tank Terminals International

Image: IFM Investors, VTTI B.V.

Vitol Investment Partnership(VIP), an investment vehicle sponsored and managed by Vitol, and IFM Investors, a global provider of investment services to institutional investors,  have agreed to acquire Buckeye Partners LP’s 50% equity interest in Vitol Tank Terminals International  (VTTI), a leading global independent provider of energy storage.On completion, VTTI will be owned 50% by IFM and 50% by Vitol and VIP. It will continue to be managed by an independent management team led by Rob Nijst…

31 Oct 2018

Gothenburg Port Container Traffic Up by 20%

Photo: Gothenburg Port Authority.

Freight volumes passing through the Port of Gothenburg during the year to date are as follows. Container traffic is up 20% compared with the preceding year, and energy product flows remain consistently strong.A press release from the deep-water port in the Scandinavian region said that new car figures rose by 4% but now appear to be levelling off, albeit at a high level.During the first nine months of the year, container traffic increased by 20% and rail traffic by 7%, said Sweden-based Port of Gothenburg.Energy products totalled 17.7 million tonnes…

12 Sep 2018

Gazprom, Mitsui Sign MOU on Baltic LNG Project

Photo: Gazprom

Russian energy giant Gazprom and Japanese Mitsui & Co. Ltd. have signed a memorandum of understanding at the Eastern Economic Forum on the liquefied natural gas plant project Baltic LNG.The memorandum was signed after the meeting between Gazprom CEO Alexey Miller and Mitsui Chairman of the Board of Directors Masami Iijima.The parties discussed the ongoing cooperation on the Sakhalin II project and the prospects for collaboration between the companies. In particular, the meeting…

22 Aug 2018

Port of Gothenburg Container Volumes up by 19% H1 2018

Photo: Gothenburg Port Authority.

During the first six months of this year, container volumes at the Port of Gothenburg rose by 19 per cent, from 318,000 to 378,000 TEUs.The number of cars and intra-European ro-ro units shipped increased by ten and four per cent respectively, whilst the energy segment fell by three per cent. The figures are taken from the Port of Gothenburg’s recently published mid-year volume report.The vast majority of Swedish foreign trade takes place by sea. In the case of trade with countries outside Europe…

03 Aug 2018

Unipec Suspends US Oil Imports as Trade Spat Intensifies

© Gudellaphoto / Adobe Stock

China's Unipec, the trading arm of state oil major Sinopec, has suspended crude oil imports from the United States due to a growing trade spat between Washington and Beijing, three sources familiar with the situation said on Friday.The sources declined to be identified as they are not authorised to speak to the media.It is not clear how long the temporary halt will last, but one of the sources said Unipec has no new bookings of U.S. crude until at least October.Unipec and Sinopec, Asia's largest refiner and biggest buyer of U.S.

29 Jun 2018

Innovation Starts @ Marine Hub Cornwall

Matt Hodson. Photo: Marine Hub Cornwall

Marine Hub Cornwall are on a mission to showcase the UK’s southwest coast as a world class center for marine technology and innovation. Working alongside Invest in Cornwall, which manages inward investment into the region, Marine Hub’s Operations Director, Matt Hodson, explains why he believes Cornwall is best positioned to be a global hub for the marine renewable industry.To kick off, can you give the readers a brief overview of your experience and what led you to become the…

21 Jun 2018

China to Cut US Oil Imports Amid Trade Spat

© Igor Groshev / Adobe Stock

Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world's two largest economies, multiple industry sources said.Beijing has put U.S. energy products, including crude oil and refined products, on lists of goods that it will hit with import taxes in retaliation for similar moves by Washington.Beijing did not specify when it will impose a 25 percent tax on oil…

20 Jun 2018

Oil Traders Ready for Musical Chairs as China Tariffs Loom

© Haris / Adobe Stock

Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S. energy products, including crude.China, which has bought an average 330,000 barrels per day (bpd) of U.S. crude oil this year, is threatening to place a 25 percent tariff on various U.S. commodity exports, including crude oil, although it is so far unclear when such a measure would come in place.The decision came in response to U.S. President Donald…

15 Jun 2018

China Surprises with Threat on US Energy Exports

© Dale Stagg / Adobe Stock

Beijing surprised oil markets with threats to levy tariffs on imports of U.S. crude oil, natural gas and other energy products on Friday, just as China has risen to the top of the list of importers of oil from the United States.China responded to $50 billion in tariffs imposed by U.S. President Donald Trump with a similar amount of levies on a variety of U.S. goods. But China also said it would impose tariffs on U.S. energy products, which analysts considered a surprise as previous tariff threats had centered on agricultural goods and automobiles."This is a big deal.

19 May 2018

U.S., China Closer on Trade Pact

The United States and China agreed to take measures to reduce the U.S. trade deficit in goods by having China purchase more American goods - particularly agriculture and energy products, according to a joint statement the two nations released on Saturday. "There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China," the joint statement reads. "To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services. The statement concluded joint talks on Thursday and Friday between the two countries, which included several U.S. cabinet secretaries and China's State Council Vice Premier Liu He.

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