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Koch Industries News

14 Jul 2019

2020 Bulkers Fixes 3 Bulkers with Koch

Norwegian shipowner 2020 Bulkers has reached time charter agreements for three of its newbuildings with Koch Supply & Trading, a subsidiary of Koch Industries.Bulk Sandefjord has secured a new 36 months time-charter at an index-linked rate, reflecting a premium to the Baltic 5TC index.The time-charter also includes a profit-sharing of any economic benefit derived from operating the vessel´s scrubber. The 36 months time-charter replaces the previous 12-15 months time-charter at a TCE rate of USD 19,525 per day, gross.Bulk Santiago will serve the charter party originally entered into for Bulk Sandefjord for 12-15 months employment at a fixed rate of USD 19…

04 Apr 2016

US Gulf Coast Diesel Exports Down Sharply

Diesel fuel exports from the U.S. Gulf Coast declined sharply since December as increasing output from refiners in South American markets and brimming stocks in Europe squeezed key outlets, Thomson Reuters data show. As a result, distillate inventories in the region have risen 27 percent since October to more than 50.8 million barrels, the highest since September 2011. That level, 90 percent of the region's 26-year high of 55.9 million barrels reached in February 2011, has pressured cash ultra-low sulfur diesel (ULSD) differentials in the U.S. Gulf Coast market in recent weeks. The U.S. Energy Information Administration said last week that distillate exports made up an average of 1.19 million barrels per day of the 4.3 million bpd of U.S. refined product exports last year.

08 Mar 2016

Colonial, Shippers to Face off over Pipeline Congestion

Executives from Colonial Pipeline, which runs the main fuel artery for the U.S. Atlantic Coast, will be questioned by customers and regulators on Wednesday after worsening congestion spawned secondary markets for space on the system, driving up costs for wholesale diesel and gasoline buyers. Refiners, retailers and trading houses have jockeyed to move barrels in an increasingly competitive race for space on the line since a 300,000 barrel per day expansion between 2011 and 2013 failed to ease traffic as shippers increased on the 2.5 million bpd system. Customers including Costco Wholesale Corp complain that so-called line space trading adds business costs, prompting a rare hearing at the Federal Energy Regulatory Commission. "We have very sophisticated customers.

14 Jul 2014

Baltic Exchange Appoint Guy Campbell Chairman

Guy Campbell of the China Navigation Company has been appointed by the Baltic Exchange Board of Directors as Chairman for a two year term of office. He replaces Quentin Soanes who served as Chairman from 2012. Guy Campbell, FIFC, MCIArb is aged 47 and began his shipping career at shipbroker JE Hyde & Co Ltd in 1990. A dry cargo specialist, he became a Baltic Exchange member in 1991, remained at JE Hyde for seven years before joining Koch Industries, where he spent 10 years as a chartering manager and eventual Director, Ocean Freight for Koch Carbon LLC. After six years as Dry Cargo Managing Director at shipbroker Clarksons, he now works for The China Navigation Company, the deep sea ship owning and operating arm of the Swire Group.

13 Sep 2009

Koch Receives America and the Sea Award

William I. Koch, founder of the Oxbow Group, philanthropist, collector and sailor, has been named the recipient of the America and the Sea award which is presented annually by Mystic Seaport. Koch will receive the award Thursday, October 29, at a gala held in his honor in New York City. The annual award recognizes an individual or organization whose contributions to the history, arts or sciences of the sea best exemplify the American spirit and character. Previous winners have included pre-eminent yacht designer Olin J. Stephens II, respected author and historian David McCullough and the President and CEO of Crowley Maritime Corporation Thomas B. Crowley, Jr.

28 May 2002

Harley Marine Announces Reorganization

Harley Marine Services will reorganize its leadership team in order to accommodate customers and field personnel. Jim Lowe has been named general manager for Harley Marine Services, Southern California. In his role, Lowe will oversee the day-to-day operations of the Harley Marine Services family of companies in Southern California including: Millennium Maritime, West Oil Marine Services, Public Service Marine, and Pacific Coast Maritime. He is specifically responsible fore leading the various companies to improve customer service while optimizing operational efficiency. Troy Goodman has been named VP of Corporate Services for Harley Marine Services.

10 Jul 2000

Oil Majors, Shipowners Merge Online Tanker Exchange

A U.S. oil majors' Internet tanker venture is merging with a shipping dot-com in a bid to become the first live online chartering exchange for the industry. SeaLogistics, which is backed by five oil groups, is merging with OneSea Direct, which has several major shipowner investors, to combine their efforts in web-based tanker chartering, the two companies said. SeaLogistics currently involves U.S. oil companies Texaco, Chevron, Koch Industries, L.G. Caltex and Coastal Corp. OneSea includes support from leading shipping companies such as A.P. Moeller, Bergesen, Teekay, I.M. Skaugen, OMI Corp., Osprey, Leif Hoegh, Worldwide, Acomarit, and V.Ships.