Martin Midstream Acquires Marine Services Assets
Martin Midstream Partners L.P. petroleum products. Tesoro's lube oil inventories. lubricant distribution and marketing business. Bank of Canada from $60 million to $80 million. announced acquisition of a terminal and three vessels. for Tesoro's diesel fuel inventories. of MMLP's general partner. MMLP. services to Midstream Fuel Service. was provided through an expansion of MRMC's existing credit facility. acquisition since our initial public offering last year.
National Waterways Foundation Elects New Trustees
The National Waterways Foundation has elected six new trustees at its recent meeting in October in Chicago, IL. They are Rev. Dr. Jean Smith , Executive Director, Seamenâ€™s Church Institute (New York, NY); Ms. Teri Goodmann , Development Director, Mississippi River Museum and Aquarium (Dubuque, IA); Mr. Charles Jones , Chairman of the Board, Amherst/Madison Coal & Supply Company (Charleston, WV); Mr. Terry Becker , President, Riverway Co. (Minneapolis, MN); Mr. Robert (Bobby) Guthans, (retired, formerly President and CEO, Midstream Fuel Service, Inc., Mobile, AL); and Mr. Robert Nichol , President, Moffatt & Nichol Engineers (Long Beach, CA).
Bollinger Delivers 55K BBL Tank Barge
Lockport, La., Bollinger Marine Fabricators, L.L.C., a Bollinger Shipyards, Inc. company, has delivered the M 6000, a 55,000 barrel (bbl) Oil Pollution Act of 1990 (OPA’90) compliant tank barge, to Midstream Fuel Service, L.L.C., a wholly owned subsidiary of Martin Resource Management Corporation. Contract terms and conditions were not disclosed. The 55,000 bbl tank barge, M 6000, was built at Bollinger Marine Fabricators, L.L.C., in Amelia, La. and is a Bollinger design. The M 6000 is a clean oil barge that is classed and certified ABS + A1 Oil Tank Barge, Manned Ocean Services.
MN 100: Ingram Barge Company
CEO: Orrin H. Ingram Barge Company (IBCO) has been a quality marine transporter on America’s inland waterways since 1946, and has grown to become a leading carrier on America’s inland waterways. IBCO has superior customer service, state-of-the-art information systems, and training and safety practices that are second to none. A commitment to continuous improvement involving every associate sets Ingram apart from the competition and provides the best possible service and value for the transportation dollar.
MOL Group Q1 Shows Robust Earnings Growth
MOL Group announced its financial results for Q1 2017 in which all business segments – Upstream, Downstream, Consumer Services, Gas Midstream – managed to increase their contributions compared with the same period of the previous year. Upstream EBITDA surged year-on-year by 50% and reached USD 219mn capitalizing on higher oil prices and the very competitive asset base. Production remained stable at 111,500 barrels of oil equivalent per day. Downstream posted an all-time high first quarter clean CCS EBITDA delivering USD 324 mn, which is 15% higher than in the same period of the previous year.
Use of Tug Boat Services in Bangkok Port
Request for PAT tug boat service must be made for berthing at: East Quay Berths (No. - Vessels with LOA exceeding 250 ft. must use at least one tug boat of 1200 HP up. West Quay Berths (No. - Vessels with LOA 250 - 450 ft. - Vessels with LOA exceeding 450 ft. - Vessels with bow thruster or stern thruster must use at least one tug boat of 1200 HP up. For midstream dolphin mooring, at least two tug boats of 1200 HP up must be used. - For midstream buoy mooring, at least one tug boat of 1200 HP up must be used. For other vessels with LOA not exceeding 250 ft., if the master judges that the vessel could berth at the terminal quay or moor at midstream safely he could do so without requesting tug boat service.
ABS to Class US' First LNG Bunker Barge
ABS has been selected to class an LNG bunker barge under construction at Conrad Orange Shipyard, Inc, a division of Conrad Shipyard, LLC, for WesPac Midstream LLC and Clean Marine Energy LLC (CME), the classification society announced. The 2,200 cu m barge is scheduled for delivery in mid-2016 and will initially be deployed in Tacoma, Wash., to service shipowner Totem Ocean Trailer Express’s (Totem Ocean) Orca Class ro-ro vessels. The unit will then be relocated to Jacksonville, Fla., to serve parent company TOTE’s Marlin Class dual-fuel container vessels and other LNG-powered vessels in the Port of Jacksonville. Designed by Bristol Harbor Group Inc, the barge features a single tank equipped with the Mark III Flex cargo containment system supplied by GTT North America.
Navios Maritime Posts 4Q Profit
Navios Maritime Midstream Partners LP (NAP) on Wednesday reported fourth-quarter profit of $9.1 million. On a per-share basis, the company said it had profit of 44 cents. The operator of contracted crude oil tankers posted revenue of $25.8 million in the period. For the year, the company reported profit of $27.1 million, or $1.33 per share. Revenue was reported as $83.4 million. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Midstream stated “We are pleased to report net income of $27.1 million, or $1.33 per share, for 2015.
First LNG Bunkering of OSV in North America
Harvey Gulf International Marine, LLC reported that its dual fuel offshore support vessel (OSV) M/V Harvey Energy has today bunkered LNG as a marine fuel. The news makes Harvey Gulf the first North American owner/operator of a dual fuel OSV to bunker LNG as a marine fuel, as well as the first to complete a truck to vessel transfer of LNG. The bunkering took place at a shore-based terminal owned by a subsidiary of Martin Midstream Partners L.P. in Pascagoula, Miss. Participating in the activities alongside the crew of the Harvey Energy was the U.S.
Royston Expands UK Engineering Facilities
Royston Diesel Power has doubled the size of its UK engineering facilities to support continuing global growth in its marine engine service business and new technology development. As part of a £500,000 ($676,000) investment program the company has opened an additional 15,000 sq. ft. of engineering workshop premises alongside its existing headquarters on the banks of the River Tyne. As well as increasing the company’s engine repair and maintenance capability, the new center will also provide a focus for a range of other technical support functions.
Damen Delivers Patrol Vessel to Nigeria
Homeland Integrated Offshore Services Ltd (Homeland) of Lagos, Nigeria, has taken delivery of another Damen 3307 Patrol Vessel for operations in the offshore oil fields in the Gulf of Guinea. This takes the total delivered vessels/Guardians since the first arrived in early 2014 to four. Guardian 4 has joined its three sister ships in providing security services to the oil majors active in Nigeria’s territorial waters, together with additional support services including crew transfers and equipment deliveries.
Harvey Gulf Claims Another LNG Milestone
Harvey Gulf International Marine LLC made maritime history in North America last week by being not only the first owner/operator of a dual fuel offshore support vessel to bunker LNG as a marine fuel but to also successfully complete the first truck to vessel transfer of LNG and to power the M/V Harvey Energy on LNG. The Harvey Energy built at GCSG in Gulfport, MS is based on the Vard Marine 1 311 design and is 310x64x24.5ft powered by 3 Wartsila 6L34DF dual fuel gensets providing 7.5MW of power fueled by Wartsila’s LNGPac system.
Bollinger and Martin Midstream Sign Contract for Tank Barge
Bollinger Marine Fabricators, L.L.C., a Bollinger Shipyards, Inc. company, has signed a contract for the design and new construction of a 55,000 barrel (BBL) Oil Pollution Act of 1990 (OPA’90) compliant tank barge, with Martin Midstream Partners, LP. Contract terms and conditions were not disclosed. The announcement was made by Bollinger executive vice president of new construction, Chris Bollinger. The 55,000 BBL tank barge, M 6000, will be built at Bollinger Marine Fabricators, L.L.C., in Amelia, Louisiana.
Eni Reorganizes Gas and Power Segment
Following the reorganization of Eni’s Gas and Power activities, approved by the Company's Board of Directors, the Business Unit Optimization and Trading will be renamed Business Unit Midstream and a new Business Unit Downstream Gas and Power has been created. The Business Unit Downstream Gas and Power, of which Eni’s Chief Executive Officer, Paolo Scaroni, has been appointed interim head, will be responsible for the development in Italy and abroad of commercial retail and mid gas & power as well as the generation of electricity power. The Business Unit Midstream, headed by Marco Alverà, will oversee commodity trading activities, supply and oil & gas portfolio optimization, sales on wholesale gas and power markets, midstream LNG commercial activities and commodities transport.
Navios Maritime Midstream Partners Announces Cash Distribution
Navios Maritime Midstream Partners L.P. announced that its Board of Directors has declared a cash distribution of $0.4225 per unit for the quarter ended December 31, 2016. This distribution represents an annualized distribution of $1.69 per unit. The cash distribution will be payable on February 14, 2017 to unit holders of record as of February 9, 2017. Navios Maritime Midstream Partners L.P. is a publicly traded master limited partnership which owns and operates crude oil tankers under long-term employment contracts.
Construction Set to Start on Jacksonville LNG Facility
JAX LNG said it has executed the remaining engineering and procurement contracts required to begin construction of a new liquefied natural gas (LNG) liquefaction and storage facility at Dames Point near the Port of Jacksonville. The JAX LNG liquefaction facility is expected to be operational in the fourth quarter of 2017. Once completed, it will be outfitted with a 2 million-gallon storage tank with the capacity to produce in excess of 120,000 gallons of LNG per day. JAX LNG’s Jacksonville plant will be North America’s first small-scale coastal LNG facility and will include marine distribution capabilities utilizing North America’s first LNG bunker barge, Clean Jacksonville. “The LNG industry is seeing a steady growth in demand,” said Tim Hermann, president of Pivotal LNG.
Socgen Joins SEA\LNG
French multinational banking and financial services company Societe Generale (Socgen) has joined SEA\LNG, the industry coalition promoting the use of liquefied natural gas (LNG) as a marine fuel. The bank is the first financial institution to join SEA\LNG. Joining a growing band of industry leaders from across the LNG value chain, Societe Generale brings an essential financial perspective to the group which aims to accelerate the uptake of LNG as a marine fuel. Paul Taylor, Global Head of Shipping Finance…
Deal Struck on LNG Delivery for Shipowners
Unique partnership offers the first fully integrated LNG solution to ship owners. WesPac Midstream LLC (WesPac), a leading provider of energy infrastructure and LNG solutions, announced a partnership agreement with Clean Marine Energy LLC (CME), the global facilitator of finance mechanisms for LNG conversion and Emission Control Area (ECA) compliance. This strategic partnership will ensure the supply and delivery of LNG to ship owners utilizing CME’s Emissions Compliance Service Agreement (ECSA) to convert to cleaner fueling.
“Green” Inland Midstream Refuel Barge Delivered
John W. Stone Oil Distributor, LLC is taking delivery of its first “green” inland midstream refueling barge from Tres Palacios Marine in Palacios, Texas. The 160 x 54-ft. double hull barge is the latest addition to the fleet of equipment Stone Oil uses to support its customer base as well as its various terminal operations. Stone Oil discussed ways to improve the existing midstream fuel barge design with its marine personnel as well as its shore based maintenance staff. This was coupled with requests from customers to provide a means to deliver various grades of fuel…
NEXT GENERATION Marine Power & Propulsion Conference
The NEXT GENERATION Marine Power & Propulsion Conference is being held at the Grand Harbour, Southampton on April 18 and 19, 2018. All sectors are invited to participate in this unique event that focuses on viable solutions for sub IMO / sub 24 meter vessels. As most new power and propulsion technology is proving to be scalable this knowledge is becoming increasingly relevant to vessels of all sizes. Conference organizer, John Haynes, said, “It is clear that emerging technologies including the use of electric drives linked to lithium-ion batteries…
Integrated LNG Solution for Ship Owners
WesPac Midstream LLC (WesPac), a provider of energy infrastructure and LNG solutions, announced a partnership agreement with Clean Marine Energy LLC (CME), the global facilitator of finance mechanisms for LNG conversion and Emission Control Area (ECA) compliance. This strategic partnership will ensure the supply and delivery of LNG to ship owners utilizing CME’s Emissions Compliance Service Agreement (ECSA) to convert to cleaner fueling. The WesPac/CME integrated solution represents a significant step in the evolution of LNG as a marine fuel. The partnership is able to provide both the funding required for LNG conversion as well as the infrastructure for LNG supply and delivery.
Navios Revenue Up 25% in 3Q 2014
Highlights of Navios Maritime Holdings Inc. IPO of Navios Maritime Midstream Partners L.P. Navios Maritime Holdings Inc. a global vertically integrated seaborne shipping and logistics company, today reported financial results for the third quarter and nine months ended September 30, 2014. Angeliki Frangou, Chairman and Chief Executive Officer, stated, "We are pleased with our results for the third quarter of 2014, for which we reported EBITDA of $42.4 million, a 5% increase compared to the same period last year. As a result, we have announced a dividend of 6 cents for Q3 2014 representing a yield of about 4.2%. On September 17, 2014…
New Shuttle Tanker Design for Teekay
A new shuttle tanker concept developed by the world’s largest shuttle tanker services provider, Teekay, will offer a new level of innovation, says Wärtsilä, whose smart technology solutions will be featured on the new vessels. To date, Teekay has ordered four of these ‘next generation’ ships, each to be built at the Samsung Heavy Industries (SHI) yard in South Korea. According to Wärtsilä, the newbuilds will feature a broad assortment of its latest technology innovations, all of which are central to the concept’s overall performance gains.