Petrobras Takes Two of Six Port Terminals in Brazil Auction
Brazil auctioned off six port terminals for liquid fuels in the northern state of Para to private operators on Friday, with subsidiaries of state-run oil company Petroleo Brasileiro SA winning two of the areas.The government raised nearly 450 million reais ($117 million) in the auction of the terminals — five in the Miramar port in the city of Belem and one in the Vila do Conde port in the city of Barcarena.The rights to operate the terminals are the latest in a slew of assets Brazil is selling as part of its drive to shore up public finances and reduce a gaping budget deficit.In an auction broadcast online, Petrobras Distribuidora SA - also known as BR Distribuidora - won a 20-year lease on a terminal in the port of Miramar with a bid of 50 million reais ($12.94 million).Petrobras Transpo
Limit Exposure with the Uniform Commercial Code
Demanding assurance pursuant to the UCC may save you from sinking on someone else’s ship. Vessel operations require a large network of companies that come together to keep the entire business chain – including yours – running smoothly. Keeping the lights on and the boats running requires agreements with banks, investors, shipbuilders, component manufacturers, designers, technical specialists, repairmen, suppliers, agents and countless other entities. Many of these agreements involve relationships that have developed over time during differing market conditions.
OW Bunker, Genoil Partner for Low Sulphur Fuel Oil
OW Bunker, a physical distributors and resellers of marine fuels, today announced that it has signed a Memorandum of Understanding (MOU) with Genoil, the global engineering technology development company. The relationship has been established to build a facility that can produce 0.1% low sulphur fuel oil, and provide ship owners and operators with the opportunity to buy a cheaper product than distillates that still meets ECA compliance regulations. As part of the agreement, Genoil will finance the building of a Hydroconversion Upgrading System (GHU) within Europe. The facility is primarily designed for hydro cracking and the desulphurization of fuel oils.
OW Bunker Installs Coriolis Flow Meters
Company continues roll-out of measurement technology across global fleet to provide customers with accuracy in supply. OW Bunker hasannounced that it has installed a Coriolis Flow Meter on one of its refueling barges in Rotterdam. OW Bunker is the first independent physical fuel distributor to use the technology when supplying customers in the region, as it looks to ensure increased accuracy in measuring the quantity of product delivered. The new technology will be subjected to a rigorous trial period before being offered as a standard feature to customers refueling in Rotterdam.
OW Bunker Launches Columbian Operations
Fuel distributor continues global expansion with launch of fifth office in Latin America. OW Bunker, a reseller and physical distributor of marine fuel, announced the launch of a new operation in Cartagena, Colombia. The move into the Colombian bunker market builds upon OW Bunker’s presence across the region with existing offices in Chile, Uruguay, Panama and Brazil. OW Bunker’s Colombia office is located in Cartagena – the country’s most active port - on the region’s northeast coast along the Caribbean Sea.
San Pedro Fuel Distributor Assumes Responsibility for Harbor Cleanup
The Jankovich Company, a San Pedro, Calif. based fuel and lubricant distributor, assumed financial responsibility of the estimated 210-gallon Los Angeles Harbor fuel spill clean up. The Coast Guard and California Department of Fish and Game, Office of Spill Prevention and Response will continue to monitor recovery operations being conducted by Patriot Environmental Services. The clean up is expected to be completed by Wednesday afternoon. Under the Federal Water Pollution Control Act, assuming financial responsibility is not an admission of fault. The actual source and cause of the fuel spill remains under investigation.
