Marine Link
Saturday, June 23, 2018

Petroleum Products News

#BTC100 History

In 1990, Richie Bates (pictured) joined Bouchard Transportation as a mate on the Ellen S. Bouchard, and soon rose to Captain of the Morton S. Bouchard Jr. in 1994. As one of BTC’s long-standing employees, Capt. Bates currently serves as Captain of the M/V Donna J. Bouchard, and leads his crew with a laser focus on always delivering petroleum products safely and efficiently. The July 2018 edition of Maritime Reporter & Engineering News will feature a special “Bouchard Transportation Co. Celebrates 100 Years” magazine. For more information contact: Greg Trauthwein, trauthwein@marinelink.com, t.

Al-Iraqia Shipping Commences Bunkering Operations in Iraq

Photo: Al-Iraqia Shipping Services & Oil Trading

Al-Iraqia Shipping Services & Oil Trading (AISSOT) is shortly commencing bunkering operations at Iraqi Ports mainly at Basra, Khor Al-Zubair and Umm Qasr. AISSOT is a joint-venture company of Iraqi Oil Tankers Company (IOTC) & Arab Maritime Petroleum Transport Company (AMPTC) to handle plethora of activities ranging from Trading of petroleum products, Ship chartering, Oil terminals, various Marine services, and Bunkering. Iraq ports are growing exponentially as shipping hub over the years and AISSOT is confident to cater to all marine related needs of the shipping lines calling Iraq…

Tanker Refloated in St. Lawrence Seaway

© Gary Clifford / MarineTraffic.com

A 17,000 dwt product tanker that ran aground in the St. Lawrence Seaway last week has been refloated and pulled free from the edge of the waterway.The Marshall Islands flagged Chem Norma was refloated Sunday after running aground near Morrisburg, Ontario last Tuesday. The St. Lawrence Seaway Management Corporation (SLSMC) said the ship is undergoing an inspection process to ensure that it is ready to resume its transit.The 145-meter Chem Norma, carrying refined petroleum products, went aground at 4:09 AM on Tuesday, May 29, due to an issue with its rudder.

Pemex Says Port Accident Injures 17 Workers

Mexican national oil company Pemex said on Wednesday that an accident at a terminal near the Gulf coast port city of Tampico has injured 17 workers, but none were badly hurt.   The company said in a post on its Twitter page that all the workers were receiving medical treatment following the accident at the Madero terminal, which processes both crude oil and other petroleum products. (Reporting by David Alire Garcia)

Concordia Maritime Charters Two MR Tankers

Concordia Maritime has signed a contract for the chartering of two IMO2/3 class MR tankers. This a joint chartering arrangement with Stena Weco, and Concordia Maritime’s share amounts to 50 percent. The contract is for one year, and the charters run from June and July 2017. The vessels were built in 2013 and are ECO-design tankers. They will be operated by Stena Weco, which has a fully integrated global logistics network for the transportation of petroleum products, light chemical and vegetable oils. The overall fleet comprises about 60 MR vessels. “The arrangement is fully in line with our fleet and chartering strategy. We are exploiting…

Scorpio to Sell Two MR Product Tankers

Photo: Scorpio Tankers Inc

Scorpio Tankers, provider of marine transportation of petroleum products, announced that it has reached an agreement with an unrelated third party to sell two of its 2013 built MR product tankers (STI Sapphire and STI Emerald) for approximately $56.4 million in aggregate. The sales are expected to close in June 2017 at which time the Company will repay the outstanding secured debt for these vessels of $27.6 million in aggregate. The Company will record a write-down of approximately $9.3 million during the second quarter of 2017 in connection with the entry into this agreement.

Demand for Chemical Tanker Fleet Looks Up

Graph:  Drewry Shipping Consultants Limited

Demand for methanol and vegoil will moderately support global seaborne trade causing the shipping fleet trading in chemicals and vegoils to expand, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. A press release from Drewry said that the orderbook contains 144 stainless steel vessels totalling 3.4 mdwt for delivery by 2020, almost 22% of the existing capacity for such vessels; 63 of these vessels are in the size range of 25…

UN Resolution Targets Libyan Fuel Smugglers

The U.N. Security Council has extended sanctions on illegal oil exports from Libya to cover refined petroleum products as well, in a bid to stem rampant smuggling of subsidised fuel by sea. Imported fuel that is priced lower for the domestic market is commonly smuggled by ship from western Libya to Malta, Italy and Turkey, and by land to Tunisia, according to U.N. investigators who earlier this month recommended an extension of the sanctions. Entrenched and powerful smuggling networks have been trading fuel for years, and it is unclear to what extent the resolution can be enforced. The new resolution, approved late on Thursday, is designed to make explicit that fuel smuggling is illegal…

Vopak Expands Pengerang Terminal

Pic: Royal Vopak

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.

Akutan Response Continues off Alaska

Fishing vessel Akutan in Captains Bay near Unalaska, Alaska, August 18, 2017. (U.S. Coast Guard photo)

The response to potential pollution from the fishing vessel Akutan continues in Captains Bay near Unalaska, Alaska. The U.S. Coast Guard, the Alaska Department of Environmental Conservation and the city of Unalaska established a unified command, and responders are continuously monitoring levels of anhydrous ammonia and removing various petroleum products from the vessel. 5,000 gallons of oily water from the engine room bilge and 1,200 gallons of oily mixture from one of the slop tanks were removed Friday and Saturday.

Concordia: Contract Signed for Tanker

Concordia Maritime signed a contract to charter out the P-MAX tanker Stena Provence. The contract is for one year, with an option for a further year, and runs from mid-September 2017. The contractual partner is one of the world’s largest oil and gas companies. The vessel has previously been used by the same customer for consecutive transportation of refined petroleum products, mainly in the Asia Pacific region. This is the second time charter contract for Concordia Maritime in recent months. A similar contract was signed with the same customer in June for the P-MAX vessel Stena Paris. “It’s always pleasing to be given a renewal of confidence. Long-standing customer relationships are one of the cornerstones of our strategy.

Iran, Sanctions & You

The primary focus of last year’s annual update, which appeared in the April 2011 issue, was U.S. efforts to tighten economic sanctions against Iran. Over the past year, U.S. pressure on Iran has intensified. Syria also has been a target of new U.S. sanctions, while the sanctions against Libya imposed in early 2011 have been eliminated for all practical purposes by a series of general licenses. Our 2012 update concentrates on these key U.S. developments, but readers should be aware that these were not the only recent changes to U.S. and international sanctions programs.

MN100: Kirby Inland Marine

Photo: Kirby Inland Marine

Kirby Corporation is a premier tank barge operator in the United States, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, along all three U.S. Coasts, and in Alaska and Hawaii. Kirby’s service includes the transporting of petrochemicals, black oil products, refined petroleum products and agricultural chemical products by tank barge. Kirby’s diesel engine services segment is a leading after-market service provider for medium-speed and high-speed diesel engines…

US Asks UN to Blacklist 10 Ships over Banned N.Korea Cargo

© Stanislav Komogorov / Adobe Stock

The United States has proposed that the United Nations Security Council blacklist 10 ships for transporting banned items from North Korea, according to documents seen by Reuters on Tuesday. The vessels are accused of "conducting illegal ship-to-ship transfers of refined petroleum products to North Korean vessels or illegally transporting North Korean coal to other countries for exports," the United States said in its proposal. If none of the 15 members of the Security Council's North Korea sanctions committee object to the ships being designated by Thursday afternoon, the U.S.

Chinese Ships Illegally Selling Oil to North Korea

Images taken on October 19, 2017 depict a recent attempt by Korea Kumbyol Trading Company's vessel Rye Song Gang 1 to conduct a ship-to-ship transfer in an effort to evade sanctions (Photo: U.S. Treasury Department)

U.S. spy satellites have caught Chinese and North Korean ships illegally trading oil on the West Sea 30 times in the last three months, according to South Korean government sources. The reported smuggling comes in the wake of United Nations sanctions banning ship-to-ship trades with North Korea on the high seas since September. But according a report from The Chosun Ilbo, satellites images have since captured more than two dozen illegal transfers and even the names of the ships side by side illegally trading oil.

Trump Troubled About Oil Flow into North Korea

© luzitanija/Adobe Stock

U.S. President Donald Trump on Thursday said he was "very disappointed that China is allowing oil to go into North Korea" and that such moves would prevent "a friendly solution" to the crisis over Pyongyang's nuclear program. "Caught RED HANDED - very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!" Trump wrote in a post on Twitter. China earlier on Thursday said there had been no U.N.

China Denies Selling Oil Illicitly to N.Korea

© Jess Yu / Adobe Stock

China on Friday denied reports it has been illicitly selling oil products to North Korea after U.S. President Donald Trump said he was not happy that China had allowed oil to reach the isolated nation. Trump said on Twitter the previous day that China had been "caught" allowing oil into North Korea and that would prevent "a friendly solution" to the crisis over North Korea's nuclear and missile programmes that it conducts in defiance of heavy U.N. Security Council sanctions. "I have been soft on China because the only thing more important to me than trade is war…

Meidel Joins Crowley Fuels in Alaska

Rick Meidel (Photo: Crowley)

Rick Meidel has joined Crowley Fuels as vice president and general manager, responsible for the performance and day-to-day operations of Crowley’s Alaska division. Meidel previously spent 32 years with ExxonMobil in downstream lubricants, retail fuels marketing, refinery optimization and natural gas and co-generation power commercialization. He earned a bachelor’s degree in electrical engineering from Washington University in St. Louis. In his new role, Meidel will be based in Anchorage and report to Rocky Smith, senior vice president and general manager.

Iran’s Gasoline Imports Plunge

Photo: National Iranian Oil Company

Iran's gasoline imports decreased from 12 million liters per day (ml/d) in the first half of current fiscal year to 4 ml/d currently, says Seyyed Mohsen Ghamsari, the director for international affairs of the National Iranian Oil Company (NIOC). “The current figure for gasoline imports stands at four million liters,” he highlighted, expecting further decline in imports of the oil product in the second half of the current year. Ghamsari said fuel oil and liquefied petroleum gas (LPG) are also being shipped abroad with the figure for fuel oil being more than two million tons per month.

Navios Maritime Acquisition Corporation Sells VLCC for $44.5 Mln

A Navios Ship. Photo: Navios Maritime Midstream Partners L.P.

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that it has agreed to sell the Nave Galactic, a 2009-built VLCC of 297,168 dwt to Navios Maritime Midstream Partners for $44.5 million. Navios Acquisition also agreed to extend the charter rate backstop of the Shinyo Kannika to the Nave Galactic. Navios Acquisition intends to use the proceeds from the sale of the vessel for repayment of indebtedness, reinvestment in vessels and general working capital purposes.

St. Lawrence Seaway Expecting a Strong Finish

The Canada-flag Algolake loading wheat at the CHS elevator in the Port of Duluth-Superior. (Photo: Terry White / Chamber of Marine Commerce)

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…

Gulf Navigation, Mena Energy Sign Strategic Deal

Photo: Gulf Navigation Holding PJSC

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.

Top Ships Extends Time Charter of M/T Eco Fleet

Eco Fleet. Photo: Top Ships

Top Ships, an international owner and operator of modern, fuel efficient "ECO" tanker vessels focusing on the transportation of petroleum products, announced that it has extended the firm period of the time charter of M/T Eco Fleet with BP Shipping Limited for six months. Following the signing of the above mentioned time charter party extension, the Company’s charter coverage is 100% of the operating fleet including vessels partly owned through joint ventures in the year 2018. The charter coverage of the operating fleet  for the years 2019, 2020 and 2021 will be 83%, 65% and 20% repectively.

Maritime Reporter Magazine Cover Jun 2018 - Green Marine Technology

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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