Libyan Port Fire Destroys 1.8m Barrels of Crude
A fire raging at an oil storage facility at Libya's Es Sider port has destroyed up to 1.8 million barrels of crude, a top oil official said on Tuesday. Total damage so far, including the lost oil, is estimated at $213 million, al-Mabrook al-Buseif, the top oil official of the recognised Libyan government, told Reuters. (Reporting by Ayman al-Warfalli; Writing by Ulf Laessing; Editing by David Goodman)
Ecology Proposes Spill Prevention and Response Readiness Rules
Washington waters and to improve response readiness. trucks and rail cars. facility and vessel operators who transfer oil to or from vessels. practices to prevent spills. required to deploy oil-spill containment boom prior to transferring oil. activities. that they can mount an effective, timely response if they spill oil. spill readiness drills.
Asia Tankers-VLCC Rates Supported by Floating Storage
Trafigura hires five VLCCs to store oil; short-term storage a profitable play. Freight rates for very large crude carriers (VLCCs) could creep higher as more ships are chartered for floating storage and crude oil shipments increase ahead of the northern winter, brokers said. "There might be a slow creep up towards 60 (on the Worldscale measure)," said Ashok Sharma, managing director of ship broker BRS Baxi in Singapore on Friday. "W60 is at least on the horizon. Rates from West Africa to China are already at W56," he added.
CEFC Bags Bunker Licence for Zhoushan Free Trade Zone, China
CEFC China Energy was awarded a licence by Zhoushan Free Trade Zone for supply marine bunker fuel off the east coast of China to vessels on international voyages, reports Reuters. The report quoted two CEFC officials saying that the license is to supply bunker fuel from bonded storage to vessels that call at the Zhoushan area. The Zhoushan Free Trade Zone is in the coastal province of Zhejiang and is a new free trade zone the Chinese government approved earlier this year to boost commodities trade.
Asia Tankers-VLCC Rates Plateau, Could Edge Higher
Floating storage, West Africa cargoes support rates; further storage charters may push rates to W60. Freight rates for very large crude carriers (VLCCs), which were supported this week by a shift to using older vessels for floating oil storage, have plateaued at current levels but could nudge higher on further storage plays, brokers said on Friday. Rates from the Middle East to Asia are currently around 50 on the Worldscale measure and W55 from West Africa to Asia depending on vessel age and actual destination, brokers said.
Washington State – Oil Transfer Requirement Training
Washington companies and operators that transfer oil over water to non-recreational vessels got some unanticipated help this month on successfully complying with the Department of Ecology (Ecology) oil transfer rules adopted in September 2006. On March 8 and 15, Ecology staff made technical assistance visits to 65 oil transfer locations across the state. Since different requirements are being phased in during the rule's first year, the agency's "Answers to Transfers" campaign was designed to answer questions and provide guidance about how the rule will affect different types of regulated facilities. The new regulations describe how oil must be transferred over water to tank vessels…
Washington State Bolsters Spill Prevention and Response
In anticipation of adopting new safeguards regarding oil transfers over water and early spill response requirements, the Department of Ecology (Ecology) has added new spill prevention inspectors, a spill responder and a contingency plan reviewer to oversee mobile oil facilities. For the first time, Ecology is stationing a vessel and oil-handling facility inspector and a hazardous material responder in Bellingham. Both positions will focus on prevention and response activities in Island, San Juan, Skagit and Whatcom counties. There are three oil refineries and two oil pipelines in the region that generate heavy ship traffic in northwest Washington. To prevent oil spills in the Puget Sound and lower Columbia River, the department has added four inspectors.
First Supertanker Docks at Vopak-Dialog Terminal
A supertanker carrying about 1 million barrels of Middle East crude docked on Monday at a terminal jointly run by Vopak and Dialog Group in Malaysia, the companies said. The arrival of tanker MT Mesdar marked the start of operations at southeast Asia's first commercial crude oil tank farm. The tanker had been chartered by CSSA, the shipping arm of French oil major Total, and it loaded the crude cargo at Fujairah in the United Arab Emirates in February, Reuters shipping data showed. Located in Pengerang, in the southern state of Johor, just across the Johor Strait from the Singapore trading hub, the site can hold 420,000 cubic metres of crude (2.6 million barrels) and also offers blending and distribution services.
S.Korea Plans to Boost Iran Oil Imports
South Korea plans to boost imports of Iranian oil, especially condensate, this year to meet growing demand after sanctions on the Islamic nation were lifted in January. The world's fifth largest importer of crude is also a big buyer of condensate, a super light oil that can be processed into fuels and petrochemicals. Iran's return would help ease tight condensate supply in a market dominated by fellow OPEC producer Qatar. "We will increase oil and natural gas (liquids) imports from Iran, especially Iranian condensate," South Korea's trade and energy ministry said on Tuesday. Iran is exporting 100,000 barrels of oil a day to South Korea, one of its main crude customers, and hopes to double that figure by the end of 2016, Oil Minister Bijan Zanganeh was quoted as saying on Monday.
Enterprise: Clients Must Pay for Dock Work
Enterprise Products Partners LP said on Wednesday that companies using its crude oil storage facility in the Houston Ship Channel must pay extra for dock services, brushing off complaints from client BP Plc . "We believe if you want a service, you pay for it," Enterprise Chief Operating Officer Jim Teague told analysts when asked about concerns, first reported by the Wall Street Journal, that the company's strong position in Gulf Coast storage gives it too much pricing power. Britain's BP has reportedly told the U.S. Federal Trade Commission that Enterprise, a major midstream company, has started charging $1 a barrel in dock fees for crude it handles at the Houston site, on top of storage fees. Since Houston is the top U.S. petrochemicals port, the dock fees could add up to big revenue.
Tianjin Resumes Commodity Port Ops
Oil, gas and iron ore imports resume after disruptions; Strategic oil reserves in the region not affected. Many operations have resumed at China's Tianjin port, trade sources said, after explosions last week that killed more than 100 people and disrupted business at what is an important oil, gas and bulk import harbour for Asia's biggest economy. The explosions on Aug. 12 led to the disruption of all chemical and oil tanker discharges at the port, and imports of iron ore were also affected. But shipping data from Reuters on Monday showed that tankers were discharging again, with traders and shippers confirming that operations had restarted over the weekend. Port officials were not immediately available for comment.
Ship Fined for Failure to Have Oil Spill Readiness Plan
The Washington Department of Ecology (Ecology) has levied an $8,500 fine to the Greek shipping firm Marmaras Navigation Co. Ltd. for operating a cargo vessel in Washington waters without a state-approved oil spill readiness plan. The penalty against Marmaras Navigation marks the first time Ecology has levied a fine under its new oil spill contingency plan rule adopted in October 2006. Ecology requires that cargo and passenger ships, tank vessels, oil storage facilities and pipeline companies demonstrate that they can mount an effective, timely response if they spill oil. Under the rule, the vessel must either have their own approved spill readiness plan or be enrolled in one of the two non-profit organizations with approved plans that cover vessels in Washington.
Drydocks World wins ADIPEC Awards
Drydocks World and Maritime World, the international providers of maritime and offshore services to the shipping, oil, gas, and energy sectors have been awarded the Best Oil & Gas Project Award for outstanding Project Excellence on the SOLAN Project. The gala event was held on the 30th anniversary of Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) at the Emirates Palace, Abu Dhabi on November 10 2014. According to ADIPEC officials, the judging panel received 396 participant entries from over 100 companies across 27 countries.
Asian Crude Storage Trend Impacts OPEC Cuts
Current markets make it profitable to store oil for future sale; many tankers sitting around Singapore storing oil. A 10-percent decline in oil prices since late May could push traders to keep crude in storage, looking to sell down the line when forward prices are higher. That would undermine the impact of supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC), which partly aimed to force traders holding oil in storage to sell to reduce bloated inventories that have sapped global prices .
Corvus Secures $4.9 Mln Credit Facility
Export Development Canada (EDC) has announced the closing of a CAD$6.5 million (US$4.9 million) contract financing credit facility for Corvus Energy Inc., a Richmond, BC-based designer, developer and manufactureer of energy storage systems (ESS) and lithium-ion battery solutions for hybrid and electric marine applications. The financing will allow Corvus to fulfill various export contracts, primarily for hybrid ferries in Europe, EDC said. “The electrification of the maritime industry in Europe is accelerating and the award-winning Orca ESS from Corvus Energy is facilitating that transition,” said Andrew Morden, President and CEO of Corvus Energy.
Passenger Ferry Delivered to New Caledonia
A new 36-meter monohull passenger ferry Mary D Seven has been delivered for Mary D Cruises in New Caledonia. Designed by Incat Crowther and built by Strategic Marine, the vessel will operate with yacht-like style on the route between Noumea and Amedee Island during the day, and as a dinner cruise vessel in the evenings, returning greater utilization of the asset. The main deck is arranged to support the transit operation by day and dinner cruises in the evening. The deck features 108 passenger seats primarily in booth seating with tables…
Barents Sea Oil Terminal: Development Concept Chosen
Statoil and its partners have chosen a development concept for the Skrugard field in the Barents Sea. The concept includes a floating production unit with a pipeline to shore and a terminal for oil from the Skrugard field at Veidnes outside Honningsvåg in Finnmark. The field is scheduled to come on stream in 2018. "The decision to bring Skrugard oil ashore at Veidnes is a key element of the further development of Norwegian oil and gas industry. This may spark off a new industrial era.
SBM Offshore Awarded Liza FPSO Contract
SBM Offshore said it has secured contracts from ExxonMobil to construct, install, lease and operate a floating production, storage and offloading vessel (FPSO) for the next phase of the Liza project in Guyana. The contracts follow completion of front-end engineering studies and the final investment decision on the project by ExxonMobil. The Liza field is located in the Stabroek block, which covers almost 27,000 square kilometers, circa 200 kilometers offshore Guyana. Esso Exploration and Production Guyana Limited is the operator and holds a 45 percent interest in the Stabroek block. Hess Guyana Exploration Ltd. holds a 30 percent interest, and CNOOC Nexen Petroleum Guyana Limited holds a 25 percent interest.
SMP Expands Ops in Mobile, Ala.
Shell Marine Products (SMP), the global supplier of marine fuels, lubricants and services, announced the start-up of its bunker fuels operations in Mobile, Ala. The company already has a strong business base in the USA Gulf Coast region, supplying bunker fuels and lubricants, and has expanded its geographic coverage to offer fuel oil, gas oil and lubricants to customers in Mobile. Shell Marine Products has fuel oil storage facilities in Mobile Harbor located at Radcliff/Economy Terminal. The company has also secured privileged access to the only double-hull bunker barge in the region to facilitate all fuel oil deliveries. With over 1,000 ships calling Mobile harbor each year, the region is an interesting bunkering market.
Washington State Proposes Changes
Changes to state environmental regulations proposed by the state Department of Ecology (Ecology) should reduce the risk of oil spills into Washington's waters during oil transfers. Aiming for a goal of zero oil spills, Ecology developed the draft "rules" with a special advisory committee made up of the oil industry and other citizen advocates. Changes in state oil-transfer regulations were requested by the 2004 Legislature following the Dec. 30, 2003, spill of 4,700 gallons of heavy oil into Puget Sound while a tank barge was receiving oil cargo from a Richmond Beach oil-storage facility near Seattle. "We believe these new standards can make a significant difference in the amount of oil that is both catastrophically and cumulatively dripped…
Brightoil Reports Steady Growth in Interim Results
Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period. During the period, profit attributable to the owners of the group increased 3% year-on-year to HK$561 million. Basic earnings per share amounted to 6.41 HK cents, up 3% from a year ago. Total revenue climbed 11% from HK$40.3 billion in 1HFY2014 toHK$44.9 billion for the period as the twin-engines business model (upstream and mid-downstream businesses) enabled the group to secure steady growth amid volatile oil prices.
Brightoil Petroleum Transforms
Brightoil Petroleum (Holdings) Limited, the largest service provider of marine bunkering in Shenzhen Port and its surrounding areas, announced its interim results as at 31 December 2008. For the six months ended 31 December 2008, the group's revenue surged to HK$2,942,195,000, representing a skyrocketing increase of approximately 237 times as compared to the corresponding period last year. Gross profit posted a year-on-year growth of 1,528% from HK$12,004,000 to HK$195,444,000. Profit attributable to shareholders went up significantly by 232% to approximately HK$168,082,000 and earnings per share jumped by 229% to 13.8 HK cents when compared to the same period of the previous year.
Mercuria, PetroChina Selling Offshore Stored Fuel Oil
Three to four tankers storing fuel oil, down from eight or nine. Independent trading house Mercuria and Chinese state oil giant PetroChina are selling fuel oil stored in vessels off Singapore and southern Malaysia on strong demand from the shipping and power sector, several trade sources said on Friday. The number of vessels storing fuel oil has halved from a month ago as Mercuria and PetroChina may have resold cargoes purchased over March to May, the sources said. Geneva-based…