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Refined Petroleum Products News

11 Nov 2022

Crude Exports Lift Port of Corpus Christi to Q3 Tonnage Record

(Photo: Port of Corpus Christi)

The Port of Corpus Christi reports it set another tonnage record in the third quarter of 2022, driven in large part by record exports of crude oil.The new quarterly tonnage record of 48.3 million tons surpassed the previous tonnage record set in the second quarter of 2022 of 46.4 million tons, a 4% increase on overall tonnage. The growth primarily was a result of strong exports of United States produced crude oil to Western European buyers who have moved away from Russian crude imports. The U.S.

25 Jul 2022

Swiss "Take Note" of EU Sanctions Tweak for Russian Oil

Copyright andrey_l/AdobeStock

The Swiss agency in charge of sanctions said it was up to the Swiss government to decide whether to adopt a tweak to EU sanctions that eases shipments of oil from Russian state-owned firms Rosneft and Gazprom to third countries.Purchases of Russian seaborne crude oil by EU companies and its export to third countries is allowed, but under tweaks to sanctions on Russia that came into force on Friday, payments related to such shipments would not be banned."We took note of the EU's decision to adopt new measures against Russiaā€¦

05 Oct 2021

Winson Denies UN Accusation it Supplied Oil to North Korea

Ā© Nightman1965 / Adobe Stock

Singapore-based oil trader Winson Group denied on Tuesday a U.N. Security Council report alleging that it supplied fuel to North Korea in breach of international sanctions."Winson denies, in the strongest possible terms, any and all allegations and/or insinuations that it knowingly facilitated the illicit supply of oil to North Korea in breach of any United Nations Security Council resolutions, and/or that it is a 'key node' in North Korea's procurement of oil or refined petroleum productsā€¦

11 May 2021

US Considering Jones Act Waivers Amid Colonial Pipeline Shutdown

Ā© nevskyphoto / Adobe Stock

The Transportation Department said on Tuesday it was evaluating whether a temporary waiver of the Jones Act is needed to ensure sufficient gasoline supply to some U.S. states after the ransomware attack on Colonial Pipeline."The U.S. Department of Transportation (USDOT) has started the work needed to enable consideration of a temporary and targeted waiver of the Jones Act," the department said. The Jones Act requires goods moved between U.S. ports to be carried by ships built domestically and staffed by U.S.

15 Jul 2020

Cryopeak Inks Deal with Island Tug & Barge for LNG Bunkering

Ā© mumemories / Adobe Stock

Cryopeak LNG Solutions Corporation said Wednesday it has signed a Memorandum of Understanding with marine bulk fuels transporter Island Tug & Barge Ltd. (ITB) to deliver liquefied natural gas (LNG) bunkering services in Southwest British Columbia, Canada.Cryopeak and ITB have developed a design for a 4,000-cubic-meter articulated tug and barge (ATB) which is planned to be in operation in 2023. A key feature of this solution is that it will leverage one of ITB's tugs designed andā€¦

18 Mar 2020

"Ship-Spotter" of the Day

The tug Austin Reinauer (4,000 hp) pushing the empty barge RTC-100 (100,000 bbl. capacity) downbound from Providence, R.I. Photo: Barry Parker

Barry Parker, contributor to Maritime Reporter & Engineering News and MarineNews magazines, is ā€“ like many people around the world ā€“ sequestered and working from home. He is our designated ā€œship spotterā€ for the day.In the maritime business, most of us have been adept at working from home (or from remote locations). Still, with the precautions being taken to prevent the spread of the Coronavirus (Covid 19), remaining at home ā€“ in my case, on the North Shore of Long Island, has not been without its challenges.

14 Feb 2020

US Ports Get More Than $280 Mln in MARAD Grants

Ā© John McQuiston / Adobe Stock

The U.S. Department of Transportationā€™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 nationā€™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 Tankersā€™ fleet. The company specializes in the transportation of crude oilā€¦

15 Jan 2020

Pyxis Tankers Sells MR2 Ship Pyxis Delta

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: ā€œThis 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. We are well-positioned to generate significant cash flows from an improving marketā€¦

17 Dec 2019

Pyxis Sells a Product Tanker

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: ā€œThe sale of our oldest, non-eco MR tanker reduces the average age of our fleet and provides us capital to repay debt, improve balance sheet liquidity and pursue growth opportunities, more cost-effectively."He added: "As we move into 2020, an exciting time for our sector, we lookā€¦

07 Nov 2019

Scorpio Completes Aquisition of 19 Tankers

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, 15 (consisting of 11 MRs and four LR2s) were delivered during 2019 and four MRs are currently under construction.For the delivered vessels, the assumption of the obligations under the bareboat charter agreements of $531.5 million and the issuance of 3ā€¦

16 Aug 2019

Kinder Morgan Invest $170Mln in Houston Ship Channel

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, KMIā€™s liquids terminal platform now boasts 10 ship docks, 38 barge spots, 20 inbound pipelines providing connectivity to 10 regional refineries and chemical plants, 15 outbound pipelinesā€¦

25 Jul 2019

Island Tug Adds New Z-drive ATB

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 Tugā€™s facility in Burrard Inlet and is the second of two, twin Z-drive, ATB push tugs for service on the West Coast of North America.Constructed at Island Tugā€™s Annacis Island Shipyard in British Columbia and completed by Nichols Brothers Boat Builders in Washington Stateā€¦

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 deliberateā€¦

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 deliberateā€¦

18 Jun 2019

Report: The U.S. Marine Market

A ā€˜work in progress,ā€™ 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 Reporterā€™ & Engineering Newsā€™ 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. adage of ā€œDonā€™t do the crime if you canā€™t do the time ā€“ or at least pay the staggering fine.ā€ And pay it forward, Volkswagen did.

18 Jun 2019

Howard Completes Port Arthur Terminal

Texas-based midstreamer Howard Energy Partners (Hep) announced that itā€™s completed the expansions of its bulk liquid terminal facilities in Port Arthur and Corpus Christi, Texas.The completion of these projects increases HEPā€™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.ā€œThe substantial expansions at our Port Arthur and Corpus Christi facilities signify HEPā€™s commitment to designing and constructing fully-engineered facilities that are tailored to meet the exact needs of our customersā€¦

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

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, and we have secured a good market position that we are continuing to build on. We have achieved this through not only our hard work in marketingā€¦

28 Nov 2018

ATB Push Tug Island Raider Enters Service

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 Tugā€™s Annacis Island Shipyard on the Fraser River, the Island Raider is connected by an articulating pin system to the ITB Resolution which was retrofitted with pin ladders and stern extensions for connecting to the new tug.According to Robert Allan Ltd, who designed the tugā€¦

30 Sep 2018

Pyxis Tankers Refinances Modern Tanker

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. This loan facility offers us great flexibility through a cash sweep mechanism for principal amortization over the entire loan period."Valentios added: "Upon closingā€¦

06 Sep 2018

Contract Extension for Tanker Stena Provence

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 worldā€™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.ā€œThis customer has a specific transport need, for which the large load capacity of our P-MAX vessels are well suited,ā€ said says Kim Ullman, CEO of Concordia Maritime. ā€œFor our part, the contract is fully in line with our efforts to concentrate employment on niche trades where the P-MAX vesselsā€™ unique properties are most beneficial.ā€This is Concordia Maritimeā€™s second contract extension in the recent period.

21 Aug 2018

Russian Firms, Vessels Hit with US Sanctions 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 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). 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 suppliedā€¦

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