NH3 FPSO Concept: Floating 'Green' Ammonia Production gets DNV AIP
An industrial-scale concept for a floating production unit to produce green ammonia has secured Approval in Principle (AiP) from DNV, and the project is now ready to start the Basic Design phase.The NH3 FPSO concept is being developed by Netherlands-based SwitchH2 BV and Norway-based BW Offshore and will be built through conversion of an existing Very Large Crude Carrier (VLCC) or a dedicated newbuild vessel.
Saudi Arabia's Tanker Power Play Could Backfire
Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments.That could leave the kingdom stuck with tens of millions of barrels in expensive ships at anchor when the coronavirus outbreak has destroyed oil demand and international prices have…
Coronavirus hits Supertanker Rates
Freight rates for supertankers on the Mideast Gulf and U.S. Gulf routes to Asia have fallen to their lowest since mid-September as the coronavirus outbreak hit Chinese oil demand, ship brokers told Reuters.China's Sinopec Corp, Asia's largest refiner, and so-called "teapot" independent refineries have reined in operations in the face of plunging consumption."The market has gone back to what it was before the COSCO sanctions came in…
China Can't Meet Its US Energy Commitments
The more you delve into the details of China's commitment to buy an additional $52.4 billion in U.S. energy over the next two years, the more it becomes apparent the goal is unachievable, even with the best will in the world.As part of the "Phase 1" trade truce between Beijing and Washington, China undertook to buy energy over and above a $9.1 billion baseline of U.S. imports in 2017…
Oxy Books Supertanker for a Record $13.25 Mln
Occidental Petroleum Corp provisionally chartered a supertanker to ship U.S. crude to South Korea for a new record of $13.25 million in November, three shipping sources familiar with the matter said on Monday.The Very Large Crude Carrier (VLCC) Maran Andromeda was chartered by Occidental on Friday for an estimated November 20 departure, according to one shipbroker and Refinitiv Eikon shipping data.Global shipping rates, and in particular U.S.
Euronav to Store Low-Sulfur Oil
The crude oil tanker company Euronav has purchased a total of 420,000 metric tons of compliant fuel oil and marine gasoil so far, the company revealed as it detailed its IMO 2020 sulfur cap plans. In aggregate the purchase value of very low sulfur fuel oil (VLSFO) has been at $447 per metric ton compared to a bunker price (HFO-3.5% Sulfur content) of $400 per metric ton over the same procurement period.According to the Belgium shipping company…
China Fixes First U.S. Crude Cargo Since Latest Tariff Threat
Chinese oil trader Unipec chartered a supertanker to ship U.S. crude to China in September, trading sources said, the first such cargo since U.S. President Donald Trump announced additional tariffs on Chinese import, ending a monthlong trade truce.Unipec, the trading arm of state refiner Sinopec , has fixed the Very Large Crude Carrier (VLCC) Anne to load U.S. crude in mid-September, according to a shipbroker and Refinitiv Eikon data.
Petrobras, Açu Petróleo Sign for Ship to Ship Operation in Port of Açu
Petrobras and Açu Petróleo (a partnership of Prumo Logística and Oiltanking) signed a contract to carry out ship to ship operations at the company's Petroleum Terminal (T-OIL), located in the Complex of Port of Açu, in the north of the state of Rio de Janeiro.The contract establishes up to 48 operations with Suezmax and VLCC (Very Large Crude Carrier) vessels and lasts for 24 months, which may be extended for the same period.
Sentinel Midstream Mulls Offshore Terminal
Dallas-based oil and gas company Sentinel Midstream is planning to develop a deepwater crude oil export terminal, located near Freeport, Texas. The completed facility will be capable of fully loading Very Large Crude Carrier (VLCC) vessels.Texas GulfLink will include an onshore terminal with up to 18 million barrels of storage, an offshore 42-in. pipeline, and a manned offshore…
BW Offshore Recycling FSO Belokamenka
The provider of floating production services to the oil and gas industry BW Offshore has signed an agreement to dispose of the FSO Belokamenka for recycling in compliance with the Hong Kong Convention.The Oslo-listed company said in a press release that the FSO Belokamenka is an Ultra Large Crude Carrier (ULCC) of 360,700 deadweight-ton capacity built in Japan in 1980.The vessel is 340.5 meters long, 65 meters wide and has a depth of 31.5 meters.
IOC: 5-year Tender on Scrubber-fitted Tankers
Indian Oil Corp (IOC) issued a global tender to charter scrubber-fitted oil tankers for at least five years to import Iraqi oil, a tender document seen by Reuters showed.The tender says Indian shippers will be given first right of refusal for the contract as the nation seeks to boost its shipping industry. It is seeking bids from vessels that are less than 10-years old.A scrubber is a product that strips out sulphur emissions and…
Iran Floats Surplus Oil as Demand Falls Ahead of US Sanctions
Two tankers carrying Iranian condensate, a type of ultra-light oil, have been floating off the United Arab Emirates for about a month as demand for the oil fell ahead of U.S. sanctions.The tankers, carrying about 2.4 million barrels of South Pars condensate combined, have been floating off the UAE since August after South Korea halted imports from Iran while China's demand dropped during summer…
Supertanker Hauling Saudi Crude U-turns After Recent Attack
A supertanker carrying Saudi Arabian crude has turned around near the Bab El-Mandeb strait, days after the world's top exporter said it was suspending all oil shipments through the strait following an attack by Yemen's Iran-aligned Houthi movement on two other ships.The Khuzama, a Very Large Crude Carrier (VLCC) transporting about 2 million barrels of oil, has made a U-turn and is now sailing east - ClipperData and Reuters vessel tracking data.Yemen, where a Saudi-l
US Oil Exports to India Soar Ahead of Iran Sanctions
U.S. crude oil exports to India hit a record in June and so far this year are almost double last year's total as the Asian nation's refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration.U.S. President Donald Trump's administration has been pressuring its allies to cut imports of Iranian goods to zero by November and India's shift advances the U.S.
Chinese Diesel to be Shipped 'west' in VLCC
Newly built vessel to load from Tianjin refinery a cargo of10ppm sulphur diesel meeting summer specs. In a rare shipment, a diesel cargo will be loaded into a very large crude carrier (VLCC) from a refinery at China's Tianjin port next month before heading to Europe or West Africa. The newly-built 'Maran Aphrodite', which can carry about 285,000 tonnes of diesel, has been chartered…
SBM Offshore Completes FPSO Liza Financing
SBM Offshore said it has secured the $720 million project financing for FPSO Liza through a consortium of 12 international banks, completed on December 19, 2017. SBM Offshore said it expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become non-recourse once the FPSO is completed and the pre-completion guarantees have been released.
Unipec to Ship VLCC of Diesel to Europe from Tianjin
Unipec, the trading arm of China's state-owned Sinopec, is shipping its first very large crude carrier (VLCC) of diesel from China to Europe, two sources close to the matter said on Friday. The company is loading the vessel with 10 parts-per-million (ppm) diesel from its refinery in the northern port city of Tianjin, near Beijing, in second-half September to head to the Mediterranean or northwest Europe, one of the sources said.
Iraq Completes Basra Oil Jetty Repairs
Repair work at a Basra oil jetty damaged by a tanker collision last month were completed on Sunday, two officials at state-run South Oil Company told Reuters on Monday. Crude exports from the Basra terminal were not affected by the collision that happened on March 24, when strong winds caused a very large crude carrier (VLCC) to lurch into berth number 1. A one-million-barrel vessel…
PetroChina, Unipec to Lift 2 mln bbls U.S. crude in December
Chinese state-owned oil traders PetroChina and Unipec have chartered ships to load more than 2 million barrels of U.S. crude oil in December, three sources with knowledge of the matter said on Friday. The shipments come on top of nearly 3 million barrels that BP has sent to Asia as oil traders sell growing supplies of cheap U.S. shale oil to the region of the world that consumes the most crude. Analysts expect U.S.
Cuts, What Cuts? Asia Gets More OPEC Crude
If you were looking for evidence of reduced crude oil supply from OPEC and its main ally in cutting output to boost prices, Russia, then stay away from Asia's top importers. January import data from China, India and Japan do little to show the impact of reduced crude supply, but do suggest that prices have risen in response to move by the producer group and its allies to remove some 1.8 million barrels per day (bpd) from global oil markets.
