Chemical Tankers Market to Grow at a CAGR of 4.5% by 2022
The chemical tankers market is projected to grow from USD 26.63 billion in 2017 to USD 33.11 billion by 2022, at a CAGR of 4.5% between 2017 and 2022, said a research report. The flourishing chemical industry and increasing use of water transportation for transferring chemicals from one place to another across the globe are the major driving factors for the growth of the chemical tankers market, said Report Linker. Chemical tankers market includes revenues earned through shipping of chemicals and related products.
Revisions to Oil Spill Regulations
The Maine Oil Spill Advisory Committee held a hearing to review proposed revisions to the state's regulations related to oil terminals and vessels transporting petroleum products. The proposed revisions contain several references to vessels transporting petroleum products on the state waterways. AWO's major objection to the Maine regulations relates to a proposed requirement that vessels stay 12 miles offshore, except when approaching Maine's ports. This requirement has been modified to read, "it is the express desire of the state for all vessels to remain 12 miles offshore, except when prudent navigation dictates otherwise."
MN 100: Marathon Petroleum Corporation
Headquartered in Findlay, Ohio, Marathon Petroleum Corporation (MPC), together with its subsidiaries, is one of the largest petroleum product refiners, marketers and transporters in the United States. Supporting all of these is a large fleet of company owned, chartered and operated barges. Marathon Petroleum’s Marine Transportation provides services that meet the marine transportation needs of Marathon Petroleum Company LP (MPC). Marine Transportation’s inland river fleet is one of the largest private domestic fleets of inland petroleum product barges…
MARAD: Jones Act Waiver Reporting Requirements
Maritime Administration Reporting Requirements For The Special Purpose Jones Act Waiver. On November 2, 2012, the Department of Homeland Security, in consultation with the US Department of Energy and the Maritime Administration, issued a waiver of the Jones Act to allow non U.S.-flagged oil tankers coming from ports in the Gulf Coast Petroleum Administration for Defense District (PADD 3) to deliver petroleum products to ports in the New England and Central Atlantic PADDs (PADDs 1A and 1B). That waiver was modified on November 3, 2012 to facilitate transportation of the necessary volume of other feedstocks, blending components, and additives used to produce fuels. Vessels under this waiver must load by November 13th and offload at their destinations by November 20th.
Ships Queues Creep into Lagos ports
19 ships laden with petrol and other commodities are discharging at the Lagos ports, says Nigerian Ports Authority (NPA) in its daily publication `Shipping Position’. Three of the ships were laden with petrol, while the others had diesel, steel products, containers, bulk salt, bulk gypsum, fish, fertilizer, rice, general cargo and crude palm oil. No fewer than 36 ships loaded with various products are expected to arrive at the ports in Lagos from March 24 to April 17, the NPA said.
Attacks on Tanker Drivers Force Loadings Suspension at Nigerian Refinery
Loadings at Nigeria's largest oil refinery have been suspended following attacks by local youths on oil tanker drivers, which left 10 tankers ablaze. A Nigerian National Petroleum Corporation (NNPC) spokesman said that the supply of petroleum products to the eastern part of the country had been disrupted because drivers have refused to return to the depot since clashes on Tuesday. Protesters suspecting foul play in the death of a local driver sparked the attacks. The disruptions came just as the supply of petroleum products across the country seemed to be gaining stability after the worst phase of fuel shortages for years. The spokesman said the youths were protesting the death of a local man who was a member of the Petroleum Tanker Drivers Union (PTDU).
ADNOC Signs Major Offshore Concession Agreements with Total
The Abu Dhabi National Oil Company (ADNOC) has signed agreements with Total of France, awarding them stakes in two of Abu Dhabi’s new offshore concessions. Under the terms of the agreements, Total has been awarded a 20% interest in the Umm Shaif and Nasr concession and a 5% interest in the Lower Zakum concession. Total is ADNOC’s largest and one of its longest international partners, active in Abu Dhabi’s oil and gas sector since 1939. Today, the French super-major collaborates with ADNOC across the value chain…
Haab Joins Maritrans Inc. Board of Directors
Maritrans Inc., announced that Fred Haab has been appointed to the Board of Directors, effective April 30, 2002. Stephen A. Van Dyck, Chairman and Chief Executive Officer of Maritrans commented, "We are very happy to welcome Fred to our board. Haab, one of five outside directors for Maritrans Inc., is President and Chief Executive Officer of F.C. Haab Co., Inc., a 57-year-old firm that markets petroleum products and provides HVAC services in the Mid-Atlantic area. In accepting the appointment, Haab remarked, "Having been in the petroleum business for over 39 years, I hope to bring this experience to the Maritrans Board of Directors. Haab is being appointed by the Board to fill a vacancy on the Board of Directors.
U.S. Vessels Ready to Transport Fuel to Northeast: AMP
Washington, D.C. – With concerns that refinery closures in the Northeast may cause gas prices to increase further, the American Maritime Partnership (AMP) notified the Administration that American vessels have ample capacity to transport petroleum to the region from the Gulf of Mexico. AMP’s letter comes after a federal analysis omitted key data about the domestic shipping industry’s overall capacity. “Today, there is more than adequate American tank vessel capacity to address any additional refinery closures,” the AMP Board of Directors wrote in a letter to Energy Secretary Steven Chu, Homeland Security Secretary Janet Napolitano and Transportation Secretary Ray LaHood. The Northeastern United States faces possible changes in its petroleum markets because of potential refinery closures.
Aker Philadelphia Shipyard Delivers 10th Product Tanker
Aker Philadelphia Shipyard (Oslo: AKPS), a U.S. commercial shipyard, delivered to American Shipping Company (Oslo: AMSC) its tenth Veteran Class MT-46 product tanker. The 46,000 dwt vessel, named the Overseas Anacortes, will leave the shipyard in the coming days under the operation of OSG America to transport petroleum products for Tesoro. This vessel is the fourth vessel planned to be utilized by Tesoro. The ship will leave Aker Philadelphia Shipyard and join its sister ships in transporting petroleum products on the West Coast.
Aker Launches Tenth Product Tanker
On July 10, Aker Philadelphia Shipyard launched Ship 014, the tenth product tanker in a series of 12 to be completed in 2011. The 46,000 dwt vessel was floated off of its blocks and was transferred by tug from the Building Dock to the Outfitting Dock, where it will remain for the next few weeks as it undergoes continuous testing and commissioning in preparation for its upcoming sea trials. When completed, the 600 ft long vessel, to be named the Overseas Anacortes, will be sold to American Shipping Company and bareboat chartered to OSG America for use transporting petroleum products.
Slow Discharge Strands Tankers
Seven tankers carrying some 210,000 tons of petroleum products have been stranded outside the Dar es Salaam Port due to its slow discharging process, according to local press reports on Monday. These seven oil tankers arrived in Dar es Salaam in the third week of last month. Flow meters, installed at the port to curb tax evasion, are discharging oil from tankers at a rate of 500 tons per hour instead of 750 tons per hour. Local oil importers are fearing that retail prices of petrol and diesel might go up due to accumulated demurrage charges at the port. Earlier last month, car importers in Tanzania also complained about the handling capability of the Dar es Salaam Port that delayed the unloading of more than 1,000 motor vehicles from a roll-on/roll-off car carrier.
Tsakos Orders Tankers at Sungdong
South Korean shipyard Sungdong Shipbuilding & Marine Engineering Co. (Sungdong) has won an order from Greece’s Tsakos Energy Navigation (TEN) for two 74,000 deadweight tonnage (DWT) crude-oil carriers with an option for two more. TEN has already ordered three tankers from Sungdong. The total value of the contract for the four LR1 tankers could reach up to USD 170 million. Delivery of the firm ship is due in the first half of 2018. Tsakos’s commitment is a massive boost for Sungdong after a tough period of instability and restructuring where the yard skirted with closure.
U.S. Shipping Secures New Charter
U.S. articulated tug barges (ATBs) scheduled to be delivered in mid-2008. domestic coastwise trade in refined petroleum products and chemicals. by contracts of affreightment in U.S. Shipping's U.S. transportation business. U.S. through June 2010. Upon delivery, U.S. to be financially accretive. The ATB which is the subject of this charter is the first of a series to be constructed by Manitowoc Marine Group (barge component) of Marinette, Wisconsin and Eastern Shipbuilding Group Inc. (tug component) of Panama City, Florida. These ATBs feature a flexible cargo system capable of carrying a broad spectrum of refined petroleum products and chemicals, a fuel efficient main engine and a hull design which will allow service speeds generally in excess of standard ATB designs.
Genesis Energy Acquires FMT Business
Genesis Energy, L.P. has completed the previously announced acquisition of the black oil barge transportation business of Florida Marine Transporters, Inc. and its affiliates (FMT). The purchase price was $141 million plus customary adjustments. The acquired business is comprised of 30 barges (seven of which are being sub-leased under similar terms of an existing FMT lease) and 14 push/tow boats which transport heavy refined petroleum products, primarily serving refineries and storage terminals along the Gulf Coast, Intracoastal Canal and western river systems of the United States, including the Red, Ouachita and Mississippi Rivers.
TOP Ships Bareboat Charter Agreed
Greece-vased Tops Ships Inc. agree a bareboat charter agreement for its dry bulk carrier 'MV Evian' TOP Ships Inc. an international maritime shipping company that provides transportation services for crude oil, petroleum products, and dry bulk commodities, announce that it has entered into a bareboat agreement to charter out the M/V "EVIAN" up to 15 December 2014 at a daily rate of US$ 7,000. The TOP Ships fleet consists of 6 Handymax double hull tankers (for chemical/ petroleum products or crude oil) with average age 2.5 years and 1 dry cargo vessel with age 9 years. Total cargo carrying capacity of our fleet is approximately 350.000 DWT. The 51,215 dwt MV Evian was built in China in 2002, is classed with DNV, and is powered by a MAN 6S 50MC-C marine diesel engine.
International Seaways Updates on VLCC Acquisition and MR Vessel Sales
International Seaways, one of the largest tanker companies worldwide, said it acquired a 2010-built VLCC for $53 million, the Seaways Raffles, which commenced trading in the Tankers International pool, during the fourth quarter of 2017. During the fourth quarter, the company, which provides energy transportation services for crude oil and petroleum products in International Flag markets, sold a 2004-built MR, which was delivered to buyers in November 2017. The Company also sold a 2002-built MR…
Gulf Navigation, Mena Energy Sign Strategic Deal
GulfNav has marked another milestone by entering into strategic alliances with MENA ENERGY. The strategic alliances for mutual co-operation in ship acquisition, chartering and commercial management aims to set out a platform for the parties to have an enhanced commercial relationship and to further strengthen their existing business ties. The parties have agreed that Gulf Navigation would acquire vessels that would be time-chartered to MENA Energy for carrying Crude and the petroleum products.
U.S. Petro Exports Continue to Grow
Total U.S. petroleum product exports continued to increase in 2015, up 467,000 barrels per day (b/d) from 2014 to 4.3 million b/d, driven by increased exports of distillate fuel, motor gasoline, and propane, according to data from the U.S. Energy Information Administration (EIA). Mexico and the region encompassing both Central and South America continued to be major recipients of U.S. petroleum product exports, as exports to the latter region increased in 2015 because of supply constraints that are likely to ease. Exports of distillate fuel oil represent the largest component of U.S. petroleum product exports, and averaged 1.19 million b/d in 2015, an increase of 85,000 b/d from 2014. The United States exported distillate fuel to 88 different countries in 2015. The top destination for U.S.
St. Lawrence Seaway Expecting a Strong Finish
A strong finish to the St. Lawrence Seaway’s 2016 shipping season is expected as freighters deliver raw materials and exports for North America’s industrial and agricultural sectors before the waterway closes December 31. "The St. Lawrence Seaway has been a significant export gateway for American grain and iron ore pellets this season and that’s expected to continue in these final weeks of December,” said Bruce R. Burrows, the new president of the Chamber of Marine Commerce. “High…
AMP, AWO & Jones Act Operators Weigh In
A letter to the U.S. Energy Information Administration (U.S. Department of Energy) from American Maritime Partnership disputes EIA domestic tank vessel estimates. Ms. U.S. U.S. Washington, D.C. Dear Ms. Thank you for meeting with me, leaders of the American Waterways Operators, and senior representatives of four of the leading American tank vessel companies last week. We are gathering, and will soon forward to you, detailed information about the American tank barge fleet. As you know…
Palmali Receives Second Tanker
Russia’s Krasnoye Sormovo ship-building factory and Palmali Group shipping company signed a delivery-acceptance certificate on the second tanker, Agdash, of Project 19619. The Factory reported that the tanker was delivered to the customer a month ahead of contract schedule. The first tanker, Masalli, was transferred to Palmali Group this September and the third one will be ready by next November, Krasnoye Sormovo reports. The Project 19619 tankers relate to river-sea vessels. They are equipped with 12 cargo and a slop tanks and has ballast compartments in double board and double bottom. Its length is 150m, width 17.30m, board height 10.5m, deadweight over 13,000 tons.
Vopak Expands Pengerang Terminal
Royal Vopak and its joint venture partners intend to expand their independent storage terminal, Pengerang Independent Terminals Sdn Bhd (PITSB) in Pengerang, Johor in southern Malaysia. PITSB will be expanded with 430,000 cbm to a total capacity of 1.7 million cubic meters.The expansion which is subject to final formalities, is expected to be commissioned progressively from Q1 2019. PITSB provides storage, blending and distribution services for crude oil and clean petroleum products. The expansion relates to the storage of clean petroleum products.