Kirby Completes Savage Fleet Acquisition
Houston-based Kirby Corporation said Thursday it has completed the acquisition of Savage Inland Marine’s inland towboat and tank barge fleet. The total consideration paid was approximately $278 million and was financed with additional borrowings. Savage’s fleet consists of 46 inland towboats and 90 tank barges with approximately 2.5 million barrels of capacity. Savage primarily moves petrochemicals, refined products, and crude oil on the lower Mississippi River, its tributaries…
Osage Takes Towboat Delivery from Master Marine
Master Marine, Inc. has delivered a second towboat for Osage Marine Services, Inc. The newly built M/V Frank Mellor, like its sister ship, is a 67’ x 28’ vessel designed by Entech Designs, LLC. All USCG certificates for their Sub M compliance have been obtained.The towboat is powered by a pair of Laborde Products, S6R2-Y3MPTAW Mitsubishi 803 HP Tier III diesel marine engines to be operated at 1,400 RPM coupled to Twin Disc 5321 gears. Laborde Products, Inc. is also providing electrical power with two Northern Lights M65C13.2S 65KW Tier III electronic controlled generators with RW Fernstrum…
Big Ship Ready Port Dredging Kicks off 2020
The end of the 2019 saw some unprecedented funding measure pass through Congress and signed into law by President Trump. The Gulf and East Coast have continued to receive significant funding to help deepen and widen navigational channels and gateways. One of the projects passed into law included the Gulf Coast Regional Demonstration Project. Some of the ports receiving funding and underway include Mobile, Baltimore, Houston, Port Everglades and Norfolk. All these projects funded by Congress draw a direct correlation to the expanded Panama Canal.
USS Tripoli Delivered
Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division delivered the newest America-class amphibious assault ship USS Tripoli (LHA 7) to the U.S. Navy on Friday. Tripoli will be commissioned later this year before sailing to its homeport of San Diego.Amphibious assault ships project power and maintain presence by serving as the cornerstone of the amphibious ready group or expeditionary strike group. These ships transport elements of the Marine expeditionary unit or Marine expeditionary brigade with a combination of aircraft and landing craft.
Trafigura, Phillips 66 to Build Deepwater Texas Oil Port
Global commodities trader Trafigura said on Friday it had formed a joint venture with U.S. refiner Phillips 66 to build a major deepwater port in Texas capable of handling supertankers, ditching its own competing project.The Bluewater Texas Terminal, which will be located 21 nautical miles east of the entrance to Corpus Christi port, will consist of two single point mooring buoys that can load Very Large Crude Carriers (VLCCs) capable of carrying around 2 million barrels of oil.Geneva…
STEHMO Investing $10 Mln, Adding 100 Jobs
Ship maintenance and repair company ST Engineering Halter Marine and Offshore, Inc., said it is investing $10 million to expand at its Pascagoula, Miss. site, adding 100 jobs in the process.STEHMO, along with its sister company VT Halter Marine, is growing as a result of recent market opportunities. The expansion will enable the company to perform new commercial repair work for larger ships and oil platforms that require greater size and lifting capacity. STEHMO is adding dock space and water depth adjacent to its Bayou Casotte site.
Enestas Plans First Dual LNG Terminal in Mexico
Mexican liquefied natural gas (LNG) company Enestas is planning to build the first first dual LNG and liquid ethane port terminal in Mexico.The new facility is located on the Gulf Coast and unloads directly from vessels up to 22,000 m3 in size. The facility features an automated storage and unloading system. Subsequently, Enestas transports the cryogenic product to the customer's facility."Based on this success, the company is planning to build more LNG terminals along the Mexican coastlines to further promote and facilitate the use of LNG as a marine fuel and for domestic distribution…
Dredging at the Forefront of Corps' 2020 Work Plan
The U.S. Army Corps of Engineers' FY2020 Work Plan release on Monday places dredging at the forefront.“We welcome the FY 2020 Work Plan released by the Army Corps,” said William P. Doyle, CEO of the Dredging Contractors of America. “We’re ready – our dredging companies are hard at work on projects and continue to build new dredging ships for America’s ports, waterways and beaches.”The Work Plan is based on the FY2020 Energy and Water Development appropriations bills signed into law by President Trump in December 2019.In December 2019…
Are OSVs Fit for Refit for Offshore Wind?
While it is generally agreed that the nascent offshore wind energy market in the U.S. will be a newbuild market, there is a repair and conversion possibility for some stacked OSVs.Though estimates on the pace of the offshore wind energy market in the U.S. vary widely, the direction is clear: offshore wind will be a huge marketplace for construction and support vessels to be deployed in U.S. waters over the next decade. The starting point for estimated vessel demand is the raft of projects along the U.S. East Coast, and to a lesser extent, in the Pacific waters, now in the pipeline.
Harley Marine Rebrands as Centerline
Harley Marine Services has changed its name to Centerline Logistics Corporation and rebranded its regional operations in parallel following an equity ownership change in July 2019.Matt Godden, Centerline Logistics President and CEO, said, “Over the last year the company has made significant progress in restructuring its operations and this branding change signals our renewed strength and vision to remain a leader in the marine transportation business.”The name change follows a ratings affirmation of the company’s senior credit facility by Kroll Bond Rating Agencyon December 16…
Kirby to Acquire Savage Inland Marine Fleet
Houston-based Kirby Corporation said it has signed a definitive agreement to acquire Savage Inland Marine's towboat and tank barge fleet for approximately $278 million in cash and the assumption of leases.Kirby will acquire Savage's inland fleet consisting of 46 towboats and 90 tank barges with approximately 2.5 million barrels of capacity, primarily used for transporting petrochemicals, refined products and crude oil on the Mississippi River, its tributaries and the Gulf Intracoastal Waterway.
US Refiners Grab HSFO on Back of IMO 2020
U.S. refiners are scooping up cheap high-sulfur fuel oil for processing from Russia and the Baltic states as they take advantage of new shipping rules that have cut demand for the dirtier marine fuel, according to oil traders and shipping data.U.S. refiners Valero Corp, Chevron Corp and Phillips 66 have been buying HSFO, traders said, taking advantage of their complex operations to turn HSFO blended with crude oils into products like diesel, gasoil and gasoline.This month, 2.2 million tonnes of fuel oil…
Corpus Christi Crude Exports Boom
U.S. crude exports from Corpus Christi, Texas, have surged to a record in recent weeks, often surpassing hubs such as Houston and Beaumont, Texas, thanks to faster-than-expected infrastructure additions.The infrastructure boom at Corpus Christi helped push crude exports there to a weekly record of 1.59 million barrels per day (bpd) in late December, more than doubling levels that held for the first eight months of last year, and above Houston's 2019 peak of 1.36 million bpd, according to vessel-tracking firm ClipperData.The heavy flows suggest that fears of a bottleneck that would impede U.S.
Tankers Flock to US as Freight Rates Surge
A flotilla of oil tankers is sailing empty from Europe and the Mediterranean toward the U.S. Gulf Coast to take advantage of surging shipping rates, according to shipping sources and Refinitiv Eikon data on Monday.Eight tankers, an unusually high number, are in the Atlantic and steaming to the United States, with capacity of up to 5.6 million barrels of oil combined, the people said. Freight rates for Aframax vessels out of the U.S. Gulf coast hit record levels last month, drawing…
For Fireboats, The Heat is On
These days, cost-conscious municipalities across the fruited plain, from sea to shining sea, are ordering new waterborne assets to cover their many local responsibilities. When they do, they want ‘more bang for their buck,’ combining multiple missions – and the equipment that makes it all possible – onto one hull. That’s a tall order on the typically compact patrol boat style hulls that tend to be big on performance, but short on space for equipment that can demand a significant physical footprint.
GEV Pact with CIMC Raffles for 8 Vessels
Australia-listed Global Energy Ventures (GEV) has extended a letter of intent (LOI) with Yantai CIMC Raffles Offshore to build the CNG Optimum 200 ships.The extension is for six months through to 30 June 2020. The LOI is based on a firm order for four 200 MM scf Compressed Natural Gas (CNG) ships with the option for GEV to order up to an additional four ships.The parties have executed the LOI, with the intention of entering a Shipbuilding Engineering, Procurement & Construction (EPC) contract…
Castleton Closes Shell Shale Deal
Houston-based Castleton Resources said that its subsidiary Castleton Commodities International LLC (CCI) has closed on the acquisition of the East Texas and North Louisiana Haynesville Shale assets of BG US Production Company LLC, a subsidiary of Royal Dutch Shell plc. Pro forma for the acquisition, Castleton Resources will hold approximately 222,400 net acres in the region and produce approximately 334 MMcfe/d (net). Castleton Resources is owned by CCI and Tokyo Gas America Ltd., a wholly owned subsidiary of Tokyo Gas Co., Ltd. Concurrent with the transaction, Tokyo Gas America Ltd.
Aframax Tanker Booked at Record US-Europe Rate
PetroChina has provisionally chartered an Aframax tanker at a record U.S.-Europe freight rate, two shipbrokers said on Tuesday, reflecting strong demand for low-sulfur U.S. crude.The Chinese oil firm tentatively chartered the Aframax-class Seamagic for 300 worldscale points, loading in the U.S. Gulf Coast. The vessel currently is moored near Pascagoula, Mississippi, according to Refinitiv Eikon data.The rate translates to about $100,000 per day, one of the shipbrokers said, surpassing the previous peak of 245 worldscale points, or about $60,700 per day, last week.
Mammoet Signs Offshore Wind with NY Port
Dutch heavy-lift firm Mammoet has reached an agreement that will enable it to provide offshore wind services at the Port of Coeymans Marine Terminal, in New York.The collaboration allows Mammoet access to the port’s 400-acre marine terminal facility, which is owned and operated by Carver Companies , in Coeymans, New York, conveniently located along the Hudson River 100 miles North of NY City and 10 miles South of Albany, NY.Over the years, Mammoet has developed a relationship…
U.S. Scoops up Overseas Fuel Oil in pre-IMO Push
The United States is taking advantage of record-low prices of one of the world's dirtiest fuels by buying record volumes, which it intends to upgrade into cleaner products before new shipping rules take effect, trading and analyst sources say.U.S. trade sources said it recently had become economical to ship fuel oil from countries such as Russia, boosting imports of the product into the United States.This comes even as prices for high-sulphur fuel oil (HSFO) on the U.S. Gulf Coast…
OP/ED: Offshore Wind
Set to Soar, Taking Offshore Support Industry With it.Offshore energy development is opening a new front in the United States -- the Atlantic seaboard, with strong winds, a shallow continental shelf and a proximity to dense population centers is driving strong interest in offshore wind development. The offshore oil and gas supply chain stands to benefit in a big way from billions in coming investment. In fact, it is already playing a role. Companies in the Gulf of Mexico, which traditionally support the offshore oil and gas sector…
INSIGHTS: Loy Stewart, Jr.
Loy Stewart, Jr. is President, Detyens Shipyards. He is a 1991 graduate of the US Merchant Marine Academy in Kings Point where he earned a degree in Marine Engineering. After several months sailing on the Sealift Atlantic, Loy began working at Detyens as a Ship Superintendent and coordinated work on numerous commercial and navy contracts. In 1996, when the Detyens Shipyards were divided into separate profit centers, Loy Jr. was promoted to Profit Center Manager of the Wando facility. In 2002 he was made PCM of the Main Yard in North Charleston and promoted to Executive Vice President in 2003.
Energy Transfer: VLCC Offshore Port to be Ready Early 2023
Energy Transfer LP said on Thursday discussions with potential shippers to build an offshore crude export facility in Texas capable of handling supertankers were progressing on schedule, with the project expected to be in service by late 2022 or early 2023.The company has also made advances on the regulatory and permitting process for the project, Marshall McCrea, Energy Transfer's chief commercial officer, said on the company's quarterly earnings call.Plans call for the facility to be connected to Energy Transfer's Nederland…