Ian Taylor News

SAAM concluded the purchase of Ian Taylor’s towage operations in Peru."This transaction will allow us to continue consolidating our presence in Peru, with the service offering we are known for and extensive geographic coverage. We are committed to continuing to operate with excellence and safety once we add this first-rate fleet," said SAAM Towage Managing Director Hernán Gómez.SAAM Towage has been operating since 2021 in Peru. With this investment, it strengthens its presence…

SAAM's Towage Division has agreed to buy 17 tugs operating in Brazil from the Brazilian company Starnav. The deal also involves the purchase of four additional tugs currently under construction.SAAM CEO Macario Valdés said the deal was one of the largest transactions in SAAM’s history."The transaction was valued at US$150 million for the 17 active tugs, all state-of-the-art, flexible, high-capacity vessels. Another US$48 million will be disbursed for four tugs under construction…

SAAM Towage reported that it has signed an agreement with Ian Taylor to acquire the company's towage operations in Peru, which currently provides services with four tugs at the ports of Callao and Paita.“This agreement, just like the acquisition in Canada of Standard Towing and Davies Tugboats formalized a few weeks ago, is part of our strategy to lead the consolidation process taking place in the towage industry. It will enable us to continue to strengthen our presence along the Pacific Coast…

ESVAGT UK has appointed Ian Taylor as iUK Regional Director.Taylor brings many years of shipping experience and a considerable amount of ESVAGT knowledge to ESVAGT’s UK office at Dock Gate House in the heart of Aberdeen’s harbor area. As a Chartered Shipbroker, he has been handling contracts with ESVAGT for North Sea Charterers for the past decade.Having ‘sold’ ESVAGT to clients for years, getting onboard full time was an easy step. “It is a company I have known well for several years,” Taylor said. “ESVAGT has a significant presence in the U.K.

Ian Taylor, who helped build Vitol into the world's biggest oil trader, will step down as chief executive and continue as chairman, the company said on Friday, naming a long-time ally and insider, Russell Hardy, as the new group CEO. Taylor said two years ago he was battling cancer although he continued to travel the world, chasing deals from Africa to the United States and Australia while also working as chairman of the board of trustees for London's Royal Opera House. Hardy, who started his career at BP and traded fuel oil, was long seen as one of two front-runners to succeed Taylor alongside another Vitol veteran Chris Bake. Vitol said in a statement that Hardy joined the firm in 1993 and held a number of trading and management roles in Singapore and London.

Launching the business relationship between the two companies, Ian Taylor Peru has signed a contract with Damen Shipyards Group for an ASD Tug 2810. The vessel’s MTU engine and rapid delivery time were both key aspects of the contract. The two companies are also concluding negotiations for an additional order of a second identical vessel. Ian Taylor Peru, the Peruvian subsidiary of the Chilean group of companies Empresas Taylor, has been active in Peru’s towing sector since 1991. The company currently has four tugs in operation there. Looking to expand the fleet within a short timescale, the company turned to Damen: “We wanted the vessel this year and fortunately Damen had one which could be ready in June,” says Empresas Taylor Chief Legal Officer Jack Howard.

Vitol's 2015 revenue fell 38 percent to $168 billion in "challenging" market conditions, the commodity trader said on Tuesday.   The world's largest independent energy trader's sharp fall in revenue came despite traded volumes of crude oil and products rising 13 percent to 303 million tonnes.   "Whilst the market structure favours a physical trader, the absolute price levels and market volatility are causes for caution," Ian Taylor, president and CEO of Vitol said.   (Reporting by Sarah McFarlane, editing by Louise Heavens)

MISC Berhad informed that its wholly-owned subsidiary MTTI Sdn. Bhd.have entered into an agreement with VIP Terminals Finance B.V. to dispose 50 percent of the issued share capital of VTTI B.V. for a cash consideration of $830 million, subject to completion of the conditions precedent. VIP Terminals Finance B.V. is ultimately a wholly-owned subsidiary of Vitol Investment Partnership Limited, an investment vehicle sponsored and managed by the Vitol Group. Upon completion of the proposed divestment, VTTI will cease to be a joint-venture company of MTTI. Yee Yang Chien, President/CEO of MISC said, "For MISC, this divestment will enable us to unlock the value of our investment in VTTI B.V.

MISC Berhad and its wholly-owned subsidiary MTTI Sdn. Bhd. have today entered into an agreement with VIP Terminals Finance B.V. to dispose 50 percent of the issued share capital of VTTI B.V., for a cash consideration of $830 million, subject to completion of the conditions precedent. VIP Terminals Finance B.V. is ultimately a wholly-owned subsidiary of Vitol Investment Partnership Limited, an investment vehicle sponsored and managed by the Vitol Group. Upon completion of the proposed divestment, VTTI will cease to be a joint-venture company of MTTI. Yee Yang Chien, President/CEO of MISC said, “It has been a great pleasure working with Vitol over the past five years. We wish Vitol the very best in its future endeavours and we are confident that the good relationship we have will continue.

BHP Billiton Ltd is set to be the first company to export lightly processed ultra-light U.S. oil without explicit permission from the government, further testing the limits of an increasingly contentious ban on foreign sales. Eight months after two other U.S. energy firms said they had received the first formal authorization to sell domestic condensate abroad, BHP said it had determined that its oil would also meet the legal criteria for export since it was being minimally processed in distillation towers in South Texas. "We took the necessary time to thoroughly examine the issues involved and ensure that the processed condensate was eligible for export…

Saudi Arabia cuts oil prices for U.S. customers; Brent and WTI touch respective 4-year and 3-year lows. Brent crude oil fell more than 3 percent to its lowest in over four years near $82 a barrel on Tuesday, after top oil exporter Saudi Arabia cut sales prices to the United States. Front-month Brent touched a low of $82.08, its weakest since October 2010, and was down $2.60 at $82.18 a barrel by 1305 GMT. U.S. light crude was down $2.40 at $76.38 a barrel. It touched a session low of $75.84, its weakest since October 2011, as its discount to Brent hovered around $6. Top global exporter Saudi Arabia increased its December official selling prices (OSPs), relative to benchmarks, to Asia and Europe on Monday, but lowered prices to the United States, a smaller export market.

The tri-hulled ReflexTM 850 Spyder underwent assessment and evaluation trials on Lake Ontario off Port Credit and Burlington’s LaSalle Park by with federal provincial and municipal police marine units from July 20 to 23. Completely designed locally and manufactured in Maine, U.S., the 28-ft craft comes to Canadian waters after considerable testing in the United States by various police agencies. The U.S. agencies expressed significant admiration for the vessel after comparing the ReflexTM tri-hulled speed and maneuvering prowess against their own traditional V-hulled patrol vessels…

Globe Wireless has acquired Zynetix, a UK-based company specializing in GSM solutions. Frank Coles President & CEO of Globe Wireless said, “Mariners will use personal GSM handsets without paying premiums for that convenience. By seamlessly blending IP satellite systems such as FleetBroadband, OpenPort and VSAT with the Zynetix technology, Globe has created the perfect maritime GSM solution. Ian Taylor, CEO of Zynetix commented, “We are delighted to join Globe Wireless at this exciting time in the maritime communications market. Specifically it enables greater focus and innovation in Zynetix’s two strategic business areas. This will accelerate the deployment of GSM on merchant ships, exclusively through Globe Wireless, making GSM a base-level expectation for on-board communications.