Refined Petroleum Products News

14 Feb 2020

US Ports Get More Than $280 Mln in MARAD Grants

© John McQuiston / Adobe Stock

The U.S. Department of Transportation’s (USDOT) Maritime Administration (MARAD) announced that it has awarded more than $280 million in discretionary grant funding through the new Port Infrastructure Development Program. This funding is designed to improve port facilities at or near coastal seaports.The Port Infrastructure Development Program supports efforts by ports and industry stakeholders to improve facility and freight infrastructure to ensure our nation’s freight transportation needs, present and future, are met.

03 Feb 2020

Royston Completes Engine Overhaul Work on Tanker

Royston has completed an overhaul of engines on the Henrietta PG (Photo: Royston)

Royston completed work to overhaul a high-speed diesel engine on a Pritchard Gordon Tanker.Engineers undertook the 51,000 running hour service on the No.2 generator onboard the 127m length Henrietta PG in Trinidad as part of a planned refurbishment and maintenance program. The Henrietta PG is one of 10 purpose built shallow draft, double hull tankers from 6,200 dwt to 10,600 dwt in the Pritchard Gordon Tankers’ fleet. The company specializes in the transportation of crude oil…

15 Jan 2020

Pyxis Tankers Sells MR2 Ship Pyxis Delta

Image: Pyxis Tankers

Greek pure play product tanker company announced that it has completed the sale of the Pyxis Delta, a 2006-built 46,616 dwt product tanker.The maritime transportation holding company said in a press note that the sale proceeds will be used to repay outstanding indebtedness secured by the vessel and for general corporate purposes.Valentios Valentis, our Chairman and CEO said: “This transaction furthers our operating strategy to focus on modern eco-MR tankers and reflects a more efficient allocation of capital resources to improve our financial condition.

17 Dec 2019

Pyxis Sells a Product Tanker

Image: Pyxis Tankers

The Greek marine transportation provider Pyxis Tankers Inc announced that it had agreed to sell the Pyxis Delta, a 2006 built 46,616 dwt product tanker.The emerging growth pure play product tanker company said that the closing of the sale should occur in January, 2020 and is subject to customary closing conditions.Valentios Valentis, our Chairman and CEO said: “The sale of our oldest, non-eco MR tanker reduces the average age of our fleet and provides us capital to repay debt…

07 Nov 2019

Scorpio Completes Aquisition of 19 Tankers

Pic: Trafigura

Scorpio Tankers, the international provider in the transportation for refined petroleum products, announced that it has completed acquisition of the leasehold interests in 19 product tankers.The Monaco-headquarters acquired subsidiaries of Trafigura, which have leasehold interests in 19 product tankers under bareboat charter agreements with subsidiaries of an international financial institution for aggregate consideration of $803 million on September 26, 2019.Of the 19 vessels…

16 Aug 2019

Kinder Morgan Invest $170Mln in Houston Ship Channel

Image: Kinder Morgan

Houston pipeline operator Kinder Morgan (KMI) plans to invest $170 million in various expansion projects along the Houston Ship Channel.The investment will increase efficiency, add product liquidity, and enhance blending capabilities at its Pasadena and Galena Park terminals, part of its best-in-class refined products storage hub on the Houston Ship Channel, said the energy infrastructure company in North America.In response to growing customer demand, KMI’s liquids terminal platform now boasts 10 ship docks…

25 Jul 2019

Island Tug Adds New Z-drive ATB

Image: Robert Allan Ltd

Island Tug and Barge, a subsidiary of Tidewater Canada, said that its  second new articulated tug barge (ATB) push tug Island Regent entered service at the end of June pushing the double hulled refined petroleum products barge, ITB Reliant.The West Coast's largest bulk transporter of refined petroleum products said that the vessel was christened June 20th at Island Tug’s facility in Burrard Inlet and is the second of two, twin Z-drive, ATB push tugs for service on the West Coast…

03 Jul 2019

U.N. Approves Release of Impounded Vessels

The United Nations has approved the release of two ships impounded by South Korea on suspicion of transferring oil to North Korea as there was no deliberate breach of sanctions, Seoul's foreign ministry said on Tuesday.South Korea seized four vessels to check whether they violated U.N. sanctions by making illegal ship-to-ship transfers of oil or coal products to North Korean ships.A U.N. panel monitoring the enforcement of sanctions approved the release of the Hong Kong-flagged Lighthouse Winmore and the South Korean P-Pioneer based on the result of a South Korean investigation that found they had not intended to breach sanctions, South Korean officials said."There was evidence of ship-to-ship transfers but we concluded that it was not deliberate…

02 Jul 2019

South Korea Releases Ships in UN 'sanctions' Case

South Korea has released two ships it had seized on suspicion of transferring oil to North Korea as there was no deliberate breach of U.N. sanctions, Seoul's foreign ministry said on Tuesday.South Korea seized four vessels to check whether they violated U.N. sanctions by making illegal ship-to-ship transfers of oil or coal products to North Korean ships.A U.N. panel approved the release of the Hong Kong-flagged Lighthouse Winmore and the South Korean P-Pioneer based on South Korean probe results that they had not intended to breach sanctions, Seoul officials said."There was evidence of ship-to-ship transfers but we concluded that it was not deliberate…

18 Jun 2019

Report: The U.S. Marine Market


Ferry First
Alabama’s Gee’s Bend Ferry recently entered service after being converted from geared-diesel to become the first zero-emission, electric-powered passenger/car ferry in the U.S. Owned by the Alabama Department of Transportation (ALDOT) and operated by HMS Ferries, Seattle-based Glosten provided concept through contract design and shipyard technical support of the vessel conversion to all-electric. Images courtesy Glosten/ALDOT

A ‘work in progress,’ the North American brown water, shallow draft sectors have experienced a tumultuous year of evolution, changing market conditions, a rapidly shifting regulatory environment and new opportunities. Anything but boring; and within the pages of Maritime Reporter’ & Engineering News’ Annual Yearbook, Joseph Keefe, editor of sister-publication MarineNews, takes a deep dive into the issues driving the domestic waterfront.Workboat EmissionsMore than one year ago, Volkswagon learned the ultimate (and painful) meaning of the iconic U.S.

18 Jun 2019

Howard Completes Port Arthur Terminal

Texas-based midstreamer Howard Energy Partners (Hep) announced that it’s completed the expansions of its bulk liquid terminal facilities in Port Arthur and Corpus Christi, Texas.The completion of these projects increases HEP’s Gulf Coast terminal storage capacity to 2.6 million barrels with three ship docks, three barge docks, unit train loading capacity for up to two trains per day, and direct pipeline connectivity through wholly-owned pipelines to seven refineries. HEP began operating terminal facilities in mid-2014.“The substantial expansions at our Port Arthur and Corpus Christi facilities signify HEP’s commitment to designing and constructing fully-engineered facilities that are tailored to meet the exact needs of our customers…

09 May 2019

U.S. seizes 'sanction buster' North Korean Ship

The United States has for the first time seized a North Korean cargo ship it accused of illicit coal shipments in violation of U.S. and United Nations sanctions, the U.S. Justice Department announced on Thursday.The ship, known as the "Wise Honest," was first detained by Indonesia in April 2018. Under an unusual U.S. civil forfeiture action, the vessel is now in the possession of the United States and is currently approaching U.S. territorial waters heading toward American Samoa, U.S. Justice Department officials said.The announcement comes after North Korea fired what appeared to be two short-range missiles on Thursday, its second such test in less than a week and an apparent protest by leader Kim Jong Un after U.S.

05 Mar 2019

Stena Bulk's IMOIIMAX Fleet a Success

Pic: Stena Bulk AB

The tanker shipping company Stena Bulk AB said that it has now had a fleet of 13 IMOIIMAX vessels of MR model on the market for a year, and an evaluation shows that the chemical vessels have been a success, both in terms of performance and business.An IMOIIMAX tanker has 18 separate tanks (3,000 m3/tank), which provides for large freedom of choice as regards combinations of cargoes. The IMOIIMAX vessels are also characterised by high safety and low fuel consumption."Utilization of and entry into the chemicals market has gone better than expected…

28 Nov 2018

ATB Push Tug Island Raider Enters Service

Island Raider / ITB Resolution in Burrard Inlet (photo credit: Carolyn Matt, Island Tug)

Canada-based provider of oil cargo transportation services Island Tug and Barge Ltd informed that s new ATB push tug the Island Raider has entered service pushing the double hulled refined petroleum products barge, ITB Resolution.The Island Raider is the first of two, twin Z-drive, ATB push tugs for service on the West Coast of North America. Constructed at Island Tug’s Annacis Island Shipyard on the Fraser River, the Island Raider is connected by an articulating pin system to…

30 Sep 2018

Pyxis Tankers Refinances Modern Tanker

Pyxis Epsilon. Photo: Pyxis Tankers

Greece-based Pyxis Tankers announced that it had successfully completed the refinancing of a previous loan facility for the Pyxis Epsilon.The emerging growth pure play product tanker company said in a press release that after repayment of existing bank debt, the new 5 year secured loan provided us approximately $7.3 million of additional net proceeds for general corporate purposes. Valentios Valentis, our Chairman and CEO said:"We welcome a new lender to our company. Blue Ocean Maritime funds managed by EnTrustPermal provided us $24.0 million of new debt.

06 Sep 2018

Contract Extension for Tanker Stena Provence

© One eyed Kiwi / MarineTraffic.cm

Concordia Maritime said it has signed a contract to charter out the P-MAX tanker Stena Provence for another year from September 2018.The contractual partner is one of the world’s largest oil and gas companies, who has used the vessel since 2014 for niche transportation of refined petroleum products, mainly in the Asia Pacific region.“This customer has a specific transport need, for which the large load capacity of our P-MAX vessels are well suited,” said says Kim Ullman, CEO of Concordia Maritime.

21 Aug 2018

Russian Firms, Vessels Hit with US Sanctions over N. Korea Oil Transfers

© Igor Savitskiy / MarineTraffic.com

The United States on Tuesday announced sanctions on two Russian shipping companies and six vessels it said were involved in the transfer of refined petroleum products to North Korean vessels in violation of United Nations. restrictions.Russian Deputy Foreign Minister Sergei Ryabkov called the sanctions as well as other U.S. steps over alleged hacking, groundless, and promised a response.The U.S. Treasury identified the shipping firms as Vladivostok-based shipping companies Primorye Maritime Logistics Co Ltd (Primorye) and Gudzon Shipping Co LLC (Gudzon).

21 Aug 2018

U.S. Sanctions Russian Firms, Vessels Over N. Korea Oil Transfers

The United States on Tuesday announced sanctions on two Russian shipping companies and six vessels it said were involved in the transfer of refined petroleum products to North Korean vessels in violation of U.N. restrictions.The U.S. Treasury identified the firms as Vladivostok-based shipping companies Primorye Maritime Logistics Co Ltd (Primorye) and Gudzon Shipping Co LLC (Gudzon).It also named six Russian-flagged vessels: Bella, Bogatyr, Neptun, Partizan, Patriot and Sevastopol."Ship-to-ship transfers with North Korea-flagged vessels from Russia or elsewhere of any goods being supplied, sold, or transferred to or from (North Korea) are prohibited under the U.N. Security Council resolutions on North Korea and are sanctionable under U.S. law," U.S.

31 Jul 2018

OSG Orders Tank Barge from Gunderson Marine

Portland, Ore. shipbuilder Gunderson Marine announced today that it has secured an order from Tampa. Fla. based energy transportation firm Overseas Shipholding Group, Inc. (OSG) for the construction of a 204,000 barrel capacity tank barge for delivery in the second quarter of 2020. The agreement also includes an option to build a second sister barge which would have a scheduled delivery date during the fourth quarter of 2020.The state-of-the-art 581' oil and chemical tank barge will be constructed to pair with existing tugs within OSG's current fleet for operation as an articulated tug barge (ATB) unit. OSG intends to register the barge under the U.S. Flag with a coastwise endorsement, allowing it to be employed in Jones Act trades.The tank barge for dual mode ITB service pursuant to U.S.

30 Jul 2018

Why is Saudi Arabia Halting Red Sea Oil Shipments?

© nicolagiordano / Adobe Stock

Saudi Arabia announced last week it was suspending oil shipments through the Red Sea's Bab al-Mandeb strait after Yemen’s Iran-aligned Houthis attacked two ships in the waterway.To date, no other exporters have followed suit. A full blockage of the strategic waterway would virtually halt shipment to Europe and the United States of about 4.8 million barrels per day of crude oil and refined petroleum products.Western allies backing a Saudi-led coalition fighting the Houthis in Yemen expressed concern about the attacks, but have not indicated they would take action to secure the strait.

26 Jul 2018

Middle East Oil & Gas Shipping Routes are at Risk

© Igor Groshev / Adobe Stock

Saudi Arabia said on Thursday it was suspending oil shipments through the Red Sea after Yemen's Iran-aligned Houthis attacked two crude tankers, underscoring risks caused by the conflict in the world's top oil exporting region.Iran, in its row with the United States over sanctions, has also threatened to block the Strait of Hormuz, the other major strategic shipping route for oil from the region and the main route for Iranian crude exports.Below are facts about region's shipping routes:Bab al-MandebAny move to block the Bab al-Mandeb…

26 Jul 2018

Saudi Arabia Halts Red Sea Oil Exports after Tanker Attacks

© Lasse Pape / MarineTraffic.com

Saudi Arabia said on Thursday it was suspending oil shipments through a strategic Red Sea lane after Yemen's Iran-aligned rebels attacked two tankers in the waterway, underscoring the risk of an escalation in tensions in the region.Brent crude futures rose 59 cents to $74.52 a barrel by 1008 GMT, extending their rally into a third day but falling from a 10-day high in earlier trading.Saudi Arabia and arch-foe Iran have been locked in a three-year proxy war in Yemen, which lies on one side of the Bab al-Mandeb strait at the southern mouth of the sea…

25 Jul 2018

Concordia Maritime Charters in Suezmax Tanker

© Steven Watkins / MarineTraffic.com

Tanker owner Concordia Maritime announced it has moved to strengthen its positions in the crude oil segment by chartering in another suezmax vessel.The 158,000 dwt suezmax vessel that has been chartered in was built in Korea in 2015. As with previous charters, this is a joint charter with Stena Bulk, and Concordia Maritime’s share amounts to 50 percent. The contract is for 12 months, and the vessel will be employed on the spot market through the Stena Sonangol Suezmax Pool from July.Kim Ullman…

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