Mauritius Oil Spill Could Impact Country's Economy for Decades
Some corals have lived for centuries at the fringes of Mauritius. Now smothered for days in heavy fuel oil spilled from a wrecked Japanese ship nearby, parts of those reefs may be in trouble.The full impact of the toxic spill is still unfolding, scientists say. As the Indian Ocean island's residents scramble to mop up the oil slicks and clumps, they are seeing dead eels and fish floating in the water, as fuel-soaked seabirds limp onto shore.Satellite images also show the 1,000…
BIMCO Tanker Rate Analysis: Reality Kicks In, Rates Fall
Tanker shipping: sky high freight rates replaced by reality of falling global oil demandGeopolitical tensions have now eased, leaving freight rates to feel the full effects of the weak underlying market and falling demand. Tanker shipping looks set to be under pressure for the rest of the year.Demand drivers and freight ratesThe tanker shipping industry was once again caught in a whirlwind, as freight rates skyrocketed with little regard to the poor market fundamentals before the latter once again caught up with rates.
Saudi Arabia May Re-route Tankers if US Bans Crude Imports
Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.Some 40 million barrels of Saudi oil are on their way to the United States and due to arrive in the coming weeks, piling more pressure on markets already struggling to absorb a glut of stocks, according to shipping data and sources.U.S. officials have said in recent days that Washington is considering blocking Saudi shipments of crude oil…
US Crude Futures Plunge to Lowest on Record
U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.Brent crude, the international benchmark, also slumped, but that contract was nowhere near as weak because more storage is available worldwide.While U.S. oil prices are trading in negative territory for the first time ever, it is unclear whether that will trickle down to consumers…
Enterprise Offers Crude Shipments From Gulf Coast to Cushing
Enterprise Products Partners LP said it would offer spot shipments of crude on an existing pipeline from the U.S. Gulf coast to Cushing, Oklahoma, the delivery point for benchmark U.S. crude futures, as demand to store oil inland surges.The move marks a sharp reversal from recent pipeline projects that were all built connecting inland markets to the Gulf Coast as U.S. crude exports climbed to record highs after Washington lifted a ban in late 2015.However, the coronavirus pandemic has crushed global oil demand and dented U.S.
Evergy to Add 660MW Wind Energy
US-based utility Evergy has announced plans to add 660MW of wind energy to its portfolio and reduce carbon emissions by 80% below 2005 levels by 2050. The addition will bring the total amount of wind serving Evergy customers to 4,535 megawatts, making Evergy one of the top five wind energy companies in the United States.The energy from these wind farms will be used to support and expand Evergy’s Direct Renewables Program, which allows Kansas companies to access clean wind energy to become more sustainable and reduce the overall cost of energy.
Permian Fracking Sets New Records
Hydraulic fracturing operations in the Permian shattered old records in June. The prolific shale basin in Texas and parts of New Mexico in the US has reached new heights in terms of the number of fracked wells – both on a daily basis and in terms of absolute monthly wells. Rystad Energy estimates there were as many as 18 wells fracked per day across the entire Permian Basin, or almost 550 wells during the month of June. Previously, fracking in the Permian peaked at approximately 520 wells fracked in August 2018…
U.S. Refiner Phillips 66 Enters Offshore Oil Export Race
U.S. oil refiner Phillips 66 is proposing a deepwater crude export terminal off the U.S. Gulf Coast, challenging at least eight other projects aiming to send U.S. shale oil to world markets, according to a memo and a source who asked not to be named.The project, called Bluewater Texas Terminal LLC, signals another major expansion of its logistics operations. The fourth largest U.S. refiner last week formed joint ventures to build pipelines linking shale fields in West Texas and North Dakota to the Cushing, Oklahoma, oil hub and the U.S.
Barges Break Free, Hit Oklahoma Dam, Sink
According to a report on WeatherChannel.com, a pair of barges broke free and hit Lock and Dam 16 on the flooded Arkansas River on Thursday, May 23, 2019, north of Webber Falls, Oklahoma.Early reports citing the Oklahoma Highway Patrol said there did not appear to be any damage to the lock.The barges broke loose from the Port of Muskogee and passed under the Highway 62 bridge without hitting anything, KOTV reported. (Sources: WeatherChannel.com, Oklahoma Higway Patrol & KOTV)
Piedmont Awards EPC Gig to Matrix
Oklahoma-based Matrix Service Company has secured an engineering, procurement and construction (EPC) contract for the Piedmont Natural Gas LNG facility in North Carolina.The contract was awarded to Matrix’s subsidiary, Matrix Service Inc, to build its liquefied natural gas (LNG) facility in Robeson County, North Carolina.The facility will help Piedmont Natural Gas continue providing customers with a reliable supply of natural gas during peak usage days, when extremely low temperatures…
BNSF: Crude Rail Service Could Resume Tuesday
BNSF Railway Co on Monday said it could resume service Tuesday on a stretch of northwestern Iowa track damaged when a train left the track and crude oil spilled from derailed cars. The crude oil train derailed near Doon, Iowa, on Friday sending 32 rail cars off the track and spilling an estimated 230,000 gallons of oil into flood waters and toward a nearby river. Crews are nearly finished removing oil from damaged cars and repairing tracks, BNSF said in a statement. Its crews are using booms to contain the oil and skimmers to remove it from the waters…
U.S. Ethanol Makers Snap Up Cheap Sorghum after China Tariffs
U.S. ethanol makers have joined global livestock producers to snap up discounted American sorghum supplies after buyers in China backed out of deals due to stiff anti-dumping tariffs on the grain imposed by Beijing in a mounting trade dispute. Sorghum is used to feed animals and represents a fraction of the billions of dollars of goods that move between the world's two largest economies. The trade conflict between the United States and China has already hit shipments of agricultural produce and threatens to disrupt the flow of everything from steel to electronics.
EPA Announces Funding to Reduce Diesel Emissions
Preference given to fleets in areas facing air quality challenges. The U.S. Environmental Protection Agency (EPA) announced the availability of grant funding to modernize the nation’s diesel fleet by retrofitting or replacing vehicles with cleaner, more efficient diesel engines. EPA anticipates awarding approximately $40 million in Diesel Emission Reduction Program (DERA) grant funding to eligible applicants, subject to the availability of funds. “These grants will incentivize improvements to aging diesel fleets and improve air quality throughout the country…
Coast Guard Calls off Search for Pilot Missing in GoM
The U.S Coast Guard has called off the search for missing pilot Bill Kinsinger, 55, and his Cirrus aircraft that vanished over the Gulf of Mexico. Last week, Kinsinger had plans to land in Georgiatown, Texas from Wiley Post Airport in Oklahoma City. When the plane failed to land, air traffic controllers attempted to reach Kinsinger, but received no response. Investigators said the plane continued on course past its destination, and was last observed on radar over the Gulf of Mexico, about 219 miles northwest of Cancun.
Coast Guard Searching for Missing Aircraft in GoM
The U.S. Coast Guard is searching for an unresponsive aircraft that went missing in the Gulf of Mexico approximately 118 nautical miles north of the Yucatan Peninsula, Thursday. The Coast Guard said its watchstanders at the Eighth District command center in New Orleans received a report from the North American Aerospace Defense Command, Wednesday evening that one person aboard a privately owned Cirrus plane was unresponsive likely due to hypoxia. The pilot flew from Oklahoma City and was reportedly headed to Georgetown, Texas.
Matrix Global Plans U.S. Crude Storage Deal
Matrix plans sweet crude storage futures at LOOP. Matrix Global Holdings is planning to start up an oil storage futures contract for low-sulphur crude oil that will enable companies to build up supplies for export cargoes, as Asia looks for more crude imports from the United States. The contract will give holders access to low-sulphur, or sweet, crude oil storage space at the Clovelly, Louisiana, terminal operated the Louisiana Offshore Oil Port (LOOP). The contract is expected to start up in about six months, Richard Redoglia, Matrix's chief executive officer told Reuters.
Tropical Storm Cindy Rolls in on US Gulf Coast
Tropical Storm Cindy is likely to hit the Gulf Coast near the Texas-Louisiana border on Wednesday night, threatening to bring flash floods from Texas to Florida, according to the National Hurricane Center. Cindy was located about 165 miles (265 km) south of Morgan City, Louisiana, early on Wednesday with maximum sustained winds of 60 miles (95 km) per hour, the NHC said. The storm was moving northwest at nearly 8 miles (13 km) per hour, and forecasters said they expected this motion to continue until it hits the coast.
US Navy: Bigger is Better, but at What Cost?
The U.S. Navy has a balanced fleet, but it wants to grow bigger and better. Will the budget allow both? Maritime Reporter's March 2017 cover story on the U.S. Navy was all about the numbers. There exists several plans to grow the fleet beyond the current number of 308 ships, the Mitre recommendation of 414 ships, the Center for Strategic and Budgetary Assessment 340-ship proposal, and the Navy’s decision to grow the fleet to 355 ships, and the Trump administration’s 350. With so many numbers being bandied about, there are even more suggestions on how to get there.
Full Tanks & Tankers: A Stubborn Oil Glut Despite OPEC Cuts
After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. Investors hailed the drawdowns as the beginning of the end of a two-year supply glut - raising hopes for steadily rising per-barrel prices. It hasn't worked out that way. Now, many of those same storage tanks are filling back up or draining more slowly than investors and oil firms had expected, according…
Preparing for Deep Sea Command
Commanding a submarine is arguably one of the toughest jobs in the world so training for the role it is justifiably challenging, preparing those who spend their days in the deep with the skills to lead their teams. Seven prospective undersea commanding officers from the United States Navy have joined their Australian colleages on the Submarine Command Course, conducted in Australia biennially. This year it coincided with a visit by the USS Oklahoma City, a Los Angeles class attack submarine, to Fleet Base West.
US Crude Stocks Jump, Gasoline Inventories Plunge - EIA
U.S. crude stocks rose last week as refineries cut output, while gasoline stocks and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude inventories rose by 8.2 million barrels in the last week, compared with analysts' expectations for an increase of 2 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 867,000 barrels, EIA said. Refinery crude runs fell by 172,000 barrels per day, EIA data showed. Refinery utilization rates fell by 0.1 percentage points. Gasoline stocks fell by 6.6 million barrels, compared with analysts' expectations in a Reuters poll for a 1.4 million-barrel drop.
Austal Celebrates Christening Of Future USS Tulsa
Austal Limited has announced that Austal USA has hosted the christening of the future USS Tulsa, the 8th Independence variant Littoral Combat Ship (LCS) designed and constructed for the United States Navy (USN). Former Mayor of Tulsa and current Chief of Economic Development for the Oklahoma city, Mrs Kathy Taylor formally christened USS Tulsa at a formal ceremony held at Austal USA’s Mobile, Alabama shipyard. In addition to the USS Independence (LCS 2) and Coronado (LCS 4), Austal USA is delivering 11 Independence variant LCS to the USN, under a contract valued at approximately US$4 billion.
U.S. Navy to Christen LCS Tulsa
The Navy will christen its newest Independence-variant littoral combat ship, USS Tulsa (LCS 16), during a 10 a.m. CST ceremony Saturday, Feb. 11 in Mobile, Alabama. Tulsa, designated LCS 16, honors the city of Tulsa, Oklahoma. Adm. William F. Moran, vice chief of naval operations, will deliver the ceremony’s principal address. Kathy Taylor, former mayor of Tulsa, is serving as the ship’s sponsor. The ceremony will be highlighted by Taylor observing a time-honored Navy tradition of breaking a bottle of sparkling wine across the bow to formally christen the ship.