GA LNG Terminal Evacuated Ahead of Dorian
Kinder Morgan Inc has halted the startup process of its liquefaction facility at Elba Island near Savannah, Georgia, following mandatory evacuation orders as Hurricane Dorian approached, Chief Executive Officer Steven Kean said on Wednesday.The Houston pipeline operator began construction on the $2 billion facility in late 2016, underpinned by a 20-year contract with Royal Dutch Shell Plc for exports of U.S. liquefied natural gas (LNG).The company will resume startup operations at the LNG plant when workers can safely return to the island…
Tanker Bottleneck Eases for Port of Houston
Four tankers on Thursday were preparing to offload or pick up cargoes in the busiest U.S. oil port, the first signs of an easing of the bottleneck that cut 1 million barrels per day of shipments, according to vessel tracking data.The Houston Ship Channel reopened this week with operating restrictions following a fire at Mitsui & Co Inc's Intercontinental Terminals Co (ITC) in Deer Park, Texas. That blaze sent fuel and chemicals into the waterway, which connects Houston to the…
Kinder Morgan quits Crude Export Venture
Kinder Morgan Inc has dropped out of a recently proposed U.S. Gulf Coast deepwater crude export venture, the project's leader Enbridge Inc said on Monday.The $800 million project, known as Texas COLT, is one of eight similar projects proposing facilities that would move U.S. shale to overseas markets by loading supertankers able to carry up to 2 million barrels apiece.Pipeline operators Enbridge and Kinder Morgan disclosed plans to build an crude export terminal off Freeport, Texas, in January, and filed permit applications with the U.S. Maritime Administration. German oil storage firm Oiltanking Partners remains committed to the project, said Enbridge."The project does not align with our strategic priorities," Kinder Morgan spokeswoman Lexey Long said.
US Oil Export Boom Sparks Battle to Build Texas Ports
Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi, Texas, where three firms are vying to open the state's first deepwater port.Commodities trader Trafigura has taken an early lead with a planned offshore facility that has an easier…
Trump's Steel Import Tariffs May Hurt US LNG Exports
U.S. natural gas trade groups said on Thursday they are concerned that new U.S. steel import tariffs could delay or reduce new pipeline projects as well as dent exports of liquefied natural gas. U.S. President Donald Trump said on Thursday the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum next week. The type of pipe and the steel used to make large diameter, thick-walled pipe used for interstate natural gas pipeline projects are niche products that are not available off the shelf or even from a wide variety of manufacturers…
Rising US LNG Exports Boost Interest in Natgas Futures
A surge in speculative interest in the U.S. liquefied natural gas (LNG) export boom has pushed open interest in natural gas futures to an all-time high, traders said on Thursday. Open interest, which measures the number of contracts outstanding, in the Henry Hub front-month hit 386,826 on the New York Mercantile Exchange on Wednesday, topping the previous high of 366,383 set in May 2016, according to Reuters data going back to 1990. "There has been a narrative around the market that the LNG exports are going to be the difference maker this winter…
Philly Shipyard Completes Tanker Series for APT
Philly Shipyard, Inc. (PSI) has delivered American Pride, the final vessel in a series of four 50,000 dwt product tanker newbuilds for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan, Inc. The 600-foot product tanker has a 14.5 million gallon carrying capacity and is based on a design from Hyundai Mipo Dockyards (HMD) that incorporates numerous fuel efficiency features, flexible cargo capability, and the latest regulatory requirements, the builder said. The vessel has also received LNG Ready Level 1 approval from the American Bureau of Shipping (ABS). American Pride and its three sister ships were originally under contract with Philly Tankers…
USCG, EPA Cleaning up a Dozen Texas Chemical Spills after Harvey
The U.S. Coast Guard and the Environmental Protection Agency are working with Texas state regulators to clean up oil and chemicals spilled from a dozen industrial facilities after flooding from Hurricane Harvey, authorities said. The spills came from oil refineries, fuel terminals and other businesses, but EPA spokeswoman Terri White said it was not possible to provide an estimate for the amounts spilled. "Initial reports were based on observation," White said. Refineries owned by Valero Energy Corp in Houston, Motiva Inc in Port Arthur, and Exxon Mobile Corp in Baytown, were among the facilities that had reported spills, according to White. Representatives for those companies did not immediately respond to requests for comment.
Canada to Ban Tankers off North British Columbia
Canada's Liberal government has introduced legislation for a moratorium on oil tanker traffic along the northern coast of the British Columbia province, the country's transport department said on Friday, delivering on an election promise. Canadian Prime Minister Justin Trudeau ordered the ban soon after the election in 2015, in which he took power on a pledge to balance resource development with protecting the environment. Friday's bill will likely pass because Trudeau's Liberals hold a majority in Parliament.
ICE to Offer First US Gulf Coast LNG Futures Contract
With the United States about to become a net exporter of natural gas for the first time in 60 years, Intercontinental Exchange Inc said on Wednesday it would begin trading the first-ever U.S. liquefied natural gas futures contract in May. ICE said the contracts would be cash-settled against the Platts LNG Gulf Coast Marker price assessment and use Platts-derived U.S. GCM LNG forward curves for daily settlement purposes. The curves will have an initial term of 48 months. "Domestic and international market participants now have a risk-management solution that lays the foundation for a more effective means of hedging their spot and forward exposure," J.C. Kneale, ICE's vice president, North American power and natural gas markets, said in a statement. U.S.
Philly Shipyard Lays Keel for Fourth APT Tanker
Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA (Oslo: PHLY), held a ceremonial Keel Laying today for the fourth product tanker in a four vessel order for American Petroleum Tankers (APT), a Kinder Morgan, Inc. subsidiary. Keeping with long held shipbuilding tradition, coins were placed on one of the keel blocks before the 650 ton unit was lowered into place in the dry dock. Representatives from Philly Shipyard and Kinder Morgan were in attendance to place the coins as a sign of good fortune and safe travels.
Philly Shipyard Delivers APT Tanker
Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), today delivered the American Endurance, the first of four next generation 50,000 dwt product tankers that it is building for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan, Inc. This delivery is the 25th vessel built by PSI (formerly known as Aker Philadelphia Shipyard, Inc.). The next generation 50,000 dwt product tanker is based on a proven Hyundai Mipo Dockyards (HMD) design that also incorporates numerous fuel efficiency features…
Canada Oil Sands Asia Export Dream Faces Port Bottleneck
The bullish view for Suncor Energy Inc (SU.TO), Cenovus Energy Inc (CVE.TO) and other Canadian energy producers calls for Prime Minister Justin Trudeau by next month to approve a major pipeline expansion to the west coast, boosting sales of land-locked oil sands crude to Asia. But a growing number of shipping brokers and physical oil traders warn that any new influx of oil will hit a bottleneck in Vancouver, because of the port's inability to accept the megaships that dominate oil trade globally. This bottleneck marks one of the more under appreciated hurdles facing Canadian oil sands crude being shipped from its busiest port of Vancouver, these shipping brokers say. Middle Eastern producers already ship oil ship to Asia far more cheaply, thanks to the bigger vessels they employ. And U.S.
Canada Oil Spill Program Hit by Cheap Crude
The two-year oil price crash has hurt a Canadian government program that funds research on oil spill cleanups, resulting in fewer applicants than expected, a senior federal official said. As a result, the government will expand the scope of its Oil Spill Response Science Program and open a second call for applications this month, Marc Wickham, Natural Resources Canada's director of energy science and technology programs, said in an interview late last week. The program funds research that improves cleanup methods for marine oil spills. Those eligible include production, pipeline and shipping companies in the energy sector. Wickham spoke with Reuters after it obtained details of the program's amendment through an access-to-information request.
Philly Shipyard Lays Keel for Kinder Morgan Product Tanker
Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA, held a ceremonial Keel Laying for the third product tanker in a four vessel order for American Petroleum Tankers (APT), a Kinder Morgan, Inc. subsidiary. Keeping with long held shipbuilding tradition, coins were placed on one of the keel blocks before the 650 ton unit was lowered into place in the dry dock. Representatives from Philly Shipyard and Kinder Morgan were in attendance to place the coins as a sign of good fortune and safe travels.
NASSCO Christens 4th ECO Class Tanker
General Dynamics NASSCO Christens Fourth ECO Class ECO Product Carrier for American Petroleum Tankers. On Saturday, September 17, General Dynamics NASSCO hosted a christening ceremony for the fourth ECO Class tanker for American Petroleum Tankers (APT) under construction at the company's shipyard in San Diego. U.S. Representative Juan Vargas spoke at the ceremony, and the ship’s sponsor, Mrs. Melissa DeVeau, christened the ship with the traditional break of a champagne bottle alongside the ship.
ABS Group Signs on Elba LNG Project
ABSG Consulting Inc., a subsidiary of ABS Group of Companies, Inc. (ABS Group), has been contracted by Kinder Morgan, Inc. to develop a Maintenance and Integrity Program for the liquefied natural gas (LNG) regasification terminal at Elba Island (Elba LNG Project) near Savannah, Georgia. ABS Group will develop the maintenance and integrity programs for the base plant, balance of plant and the terminal upgrade. The full scope of ABS Group's services cover program development and execution, including project management, strategy development and business processes, asset register, mechanical integrity (MI), preventative maintenance development, spare parts and bill of materials, as well as data asset management services.
Philly Shipyard Lays Keel for Second APT Tanker
Philly Shipyard, Inc. (PSI) held a keel laying ceremony for the second product tanker in a four vessel order for Kinder Morgan, Inc. subsidiary American Petroleum Tankers (APT). Representatives from Philly Shipyard and Kinder Morgan were in attendance to place coins on one of the keel blocks before the 650 ton unit was lowered into place in the dry dock. When completed in 2017, the product tanker will be 600 feet long and capable of carrying 50,000 tons of crude oil or refined petroleum products. The Tier II 50,000 dead weight ton (dwt) product tankers are based on a Hyundai Mipo Dockyards (HMD) design which incorporates numerous fuel efficiency features, flexible cargo capability and the latest regulatory requirements, the builder said.
NASSCO Christens Jones Act ECO Tanker
U.S. shipbuilder General Dynamics NASSCO launched and christened Garden State, another ECO Class tanker due to join the Jones Act fleet. Launched and christened on Saturday, May 7, the new ship, will join the ranks as one of the most fuel-efficient and environmentally friendly product tankers in the world, the builder said. Garden State is the third of a five-tanker contract between NASSCO and American Petroleum Tankers, which calls for the design and construction of five 50,000 deadweight ton, LNG-conversion-ready product carriers with a 330,000 barrel cargo capacity.
APT’s 2nd ECO Class Product Carrier Christened
On Saturday, April 23, General Dynamics NASSCO hosted a christening ceremony for the second Jones Act ECO Class tanker for American Petroleum Tankers (APT) under construction at the company's shipyard in San Diego. U.S. Representative Scott Peters spoke at the ceremony, and the ship’s sponsor, Trang Cormack, christened the ship with the traditional break of a champagne bottle alongside the ship. The ECO Class tanker, the Magnolia State, is the second of a five-tanker contract between NASSCO and APT…
Kinder Morgan Swings to Loss in Q4
U.S. pipeline giant Kinder Morgan Inc swung to a fourth-quarter loss as it moved lower volumes of oil and gas amid falling prices. The company said it does not expect to access the capital markets to fund growth projects in 2016 as it slashed dividend by 75 percent in December. The company said it cut its 2016 capital budget by about $900 million. The Houston-based company posted net loss available to shareholders of $637 million in the quarter ended Dec. 31, compared with profit of $126 million a year earlier. (Reporting by Anet Josline Pinto in Bengaluru; Editing by Don Sebastian)
Cat Financial $ 150 Mln Loan for Philly Shipyard
Philly Shipyard, Inc. (PSINC), the sole operating subsidiary of Philly Shipyard ASA, announced today that it has signed a commitment letter with Caterpillar Financial Services Corporation (Cat Financial) for a USD 150 million loan facility to finance the construction of four next generation 50,000 dwt product tankers, designated as Hulls 025-028. The facility will be subject to a maximum borrowing amount of USD 75 million per vessel and secured by a first lien on the four vessels. The loans will accrue interest at three-month LIBOR plus 3.00% as defined in the commitment letter.
NASSCO Delivers Eco Class Tanker to APT
General Dynamics NASSCO, today, delivered the company's first ECO Class tanker, the Lone Star State, to American Petroleum Tankers (APT). The new ECO Class tanker symbolizes the emerging direction of the shipping industry in the U.S. toward cleaner, more fuel-efficient modes of transporting product. The tanker is the first of a five-tanker contract between NASSCO and APT, which calls for the design and construction of five 50,000 deadweight-ton, LNG-conversion-ready product tankers with a 330,000 barrel cargo capacity.