US Oil Export Boom Sparks Battle to Build Texas Ports
Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi, Texas, where three firms are vying to open the state's first deepwater port.Commodities trader Trafigura has taken an early lead with a planned offshore facility that has an easier…
China LNG Tariff Casts Shadow Over New US Export Terminals
China set a 10 percent tariff on U.S. liquefied natural gas (LNG) imports, extending a trade dispute into energy and casting a shadow over U.S. export terminals that would propel the United States into the world's second-largest LNG seller.Beijing on Tuesday said it would tax U.S. products worth $60 billion effective Sept. 24 in retaliation for tariffs imposed by U.S. President Donald Trump in an escalating trade war.The rate was smaller than the 25 percent tariff China had touted earlier, which offered some relief and helped shares in listed U.S.
Port Manatee, Carver Maritime Ink Long-term Terminal Deal
Port Manatee and Carver Maritime LLC have entered a long-term marine terminal operating agreement for a 10-acre aggregate offloading facility at the Florida Gulf Coast port.The agreement, for as many as 20 years including options, was approved Thursday by the Manatee County Port Authority and ensures property lease payments totaling $1.8 million for the initial five-year term, in addition to wharfage payments for annual cargo throughputs.Carver Laraway, president of Altamont,…
Largest Oil Shipment Sent from Vancouver to China Since 2015
An Aframax tanker is scheduled to deliver the largest shipment of crude oil from Vancouver to China since January 2015 later this month, Thomson Reuters trade flow data show.For years, Canadian officials have pushed for an escalation in crude exports to rapidly growing Asian markets, but companies in the oil-rich Alberta have limited capacity to move crude to the nation's western coastline.That makes Canadian crude exports from Vancouver to Asia rare, but shipments have picked up in recent months, with oil tankers to China, Thailand and South Korea departing in April and July.
Canada Dreams of Oil Exports to Asia, but California Beckons
The nationalization of a crude oil export pipeline in western Canada has buoyed long-standing hopes for crude exports to markets beyond the United States - but the most likely destination for much of that oil is California. Faced with declining production from Latin America and rising prices for higher-grade crudes from the Middle East, the Golden State is importing more oil from Canada - much of it via the Trans Mountain pipeline, which Kinder Morgan Canada last month sold to Ottawa for C$4.5 billion ($3.5 billion).
Philly Shipyard Order Backlog Touches USD 187.7 mln
As of 31 December 2017, Philly Shipyard had an order backlog of USD 187.7 million. The contract with Matson (Hulls 029-030) provides for shipbuilding activity with delivery dates through Q1 2019. On 20 November 2017, Philly Shipyard delivered Hull 028, the final product tanker in the four-ship order for Philly Tankers, a Jones Act shipping company that is majority-owned (but not controlled) by Philly Shipyard. This vessel was delivered to Kinder Morgan, as assignee of Philly Tankers, ten days before its contract delivery date.
Owensboro Terminal Opts for Green Material Handler
When SENNEBOGEN material handlers became available in America, Bob Childress was one of the first to put a green machine into service on the Ohio River. Now, he is one of the latest SENNEBOGEN purchasers, too. “I bought one of the first SENNEBOGEN 825 M units from Brandeis Machinery and Supply (the SENNEBOGEN dealer in this area) for Lanham River Terminal,” Childress recalls. Childress recently transferred to Yellow Banks from Kinder Morgan’s nearby Owensboro terminal. Yellow Banks’ facilities include 50,000 sq. ft.
APT’s 2nd ECO Class Product Carrier Christened
On Saturday, April 23, General Dynamics NASSCO hosted a christening ceremony for the second Jones Act ECO Class tanker for American Petroleum Tankers (APT) under construction at the company's shipyard in San Diego. U.S. Representative Scott Peters spoke at the ceremony, and the ship’s sponsor, Trang Cormack, christened the ship with the traditional break of a champagne bottle alongside the ship. The ECO Class tanker, the Magnolia State, is the second of a five-tanker contract between NASSCO and APT…
SCPA Box Volumes Up; Leadership Realigned
On the heels of announcing its five-year growth, investment and cargo base expansion plans at the State of the Port, South Carolina Ports Authority (SCPA) reported a four percent increase in August container volumes over the same month last year. SCPA said it handled 170,528 twenty-foot equivalent units (TEUs) in August. With 345,751 TEUs moved during the first two months of the 2016 fiscal year, container volume is up 8.8 percent year-over-year. As measured in pier containers, nearly 97,000 boxes moved across SCPA docks in August.
Kinder Morgan Buys Four Newbuilding Resales
Kinder Morgan, Inc. is expanding its growing fleet of Jones Act product tankers having signed a definitive agreement valued at an all-in price of $568 million with Philly Tankers LLC to take assignment of contracts for the construction of four, new 50,000-deadweight-ton, Tier II tankers to be constructed at the Aker Philadelphia Shipyard in Philadelphia, Pennsylvania. The transaction requires approval of shareholders holding 80 percent of the shares of Philly Tankers AS. Philly Tankers AS is the parent of Philly Tankers LLC.
Shell Sells Elba Liquefaction Project Interest to Kinder Morgan
Kinder Morgan Inc. will buy out Royal Dutch Shell PLC’s interest in their proposed Elba Liquefaction Co. (ELC ) joint venture in Georgia. Houston-based Kinder Morgan already owns 51% of the ELC joint venture. The firm said it would buy the 49 percent stake that it does not already own in the natural gas joint venture and it raised its dividend. ELC owns the Elba Liquefaction Project, which is proposed to be constructed and operated at the existing Elba Island LNG Terminal near Savannah, Georgia.
Gulf LNG Liquefaction Project on the Anvil
The Gulf LNG Liquefaction Project proposed by Kinder Morgan and minority partners officially filed Friday for federal approval to add exporting capabilities to an existing liquefied natural gas (LNG) terminal. The $8 billion LNG export project near Pascagoula, Mississippi is for adding export capabilities to a pre-existing LNG terminal there. Subject to obtaining sufficient long-term customer commitments, anticipated capital expenditures for the project at full development total approximately $8 billion.
HII, Kinder Morgan Not to Pursue Avondale Joint Venture
Huntington Ingalls Industries and Kinder Morgan Inc. Huntington Ingalls Industries (HII) announced it has completed discussions with Kinder Morgan Inc. (KMI) to explore the redevelopment of HII's Avondale shipyard in Louisiana. Since April 2014, HII and Kinder Morgan have evaluated best-use opportunities for the facility, and have mutually decided not to move forward with a joint venture. HII said it will continue to assess all alternatives for future use of the facility, to include selling the property…
Kurz, Levy Appointed to Rand Board of Directors
Rand Logistics, Inc. has announced that its Board of Directors has appointed Robert Kurz and Edward Levy as Class III and Class I directors, respectively. Kurz is Vice President of Kinder Morgan Terminals and the President of their tanker division, American Petroleum Tankers. Levy is currently the President and Chief Executive Officer of Rand. Rand also announced that Captain Scott Bravener, a Class I director, has tendered his resignation from the Board of Directors. Bravener…
Canadian Pipeline Expansion Continues
Kinder Morgan Energy Partners said on Friday that crews have resumed survey work related to its Trans Mountain pipeline expansion project in the Vancouver suburb of Burnaby, even as Canadian police arrested more protesters at two work sites. Kinder Morgan said it was able to move its equipment onto Burnaby Mountain overnight and that crews would be working 24 hours a day for the next 10 to 12 days to complete drilling work required by regulators. The company, which hopes to nearly triple the capacity of the existing 300…
Kinder Morgan Bonds Rally on Merger News
Bonds of oil and gas pipeline company Kinder Morgan Inc rallied Monday on expectations that its credit ratings would be boosted to investment-grade following a US$70bn deal to bring all of its publicly traded units into one group. Kinder Morgan's 5% February 2021 bonds jumped to 107 from 101.5 on Friday, while the 5.625% November 2023 bonds rose to 108.5 from 102.5, according to a trader. Another trader said Kinder Morgan Energy Partners long-dated 7.75% March 2032 bonds jumped 15 points to a cash price of 125.5, while its shares soared by almost 20%.
LNG Marine Fuel Taking Hold in America: FMC Commissioner Speaks
In his speech at the LNG Export & Export & Infrastructure Conference Federal Maritime Commissioner Doyle gives insights on the consequences of the adoption of Liquefied Natural Gas (LNG) as a marine fuel in the United States. I am a Commissioner with the U.S. Federal Maritime Commission. The Federal Maritime Commission is an independent regulatory agency responsible for regulating the nation’s international ocean transportation for the benefit of exporters, importers, and the American consumer.
Energy Growth Fuels Transactions
North America’s energy revolution is starting to have a profound impact on the maritime and offshore sectors. North America is undergoing a gradual revolution in energy production, and the transformation has begun to have a profound impact on the maritime and offshore sectors. Despite a few volatile years and mixed performance of public companies in the offshore service and drilling markets, the outlook for energy services seems to be positive according to most analysts. Recovery…
ISS Appoints Ferguson VP, Cargo Solutions
Inchcape Shipping Services (ISS), a maritime services provider, announced a new hire within its Cargo Solutions division, with the appointment of Michael Ferguson as Vice President, Cargo Solutions, Terminals and Port Infrastructure. With more than 35 years’ experience working in senior positions for companies like Drummond Coal, Kinder Morgan and the Forge Group, Mike’s expertise extends from bulk material handling through to roles in engineering, operations, mining, terminal management, project management and business development.
Kinder Morgan Acquires APT, SCT Tankers
Kinder Morgan Announces Acquisition of Jones Act Shipping Tankers in U.S. for Approximately $962 Million. Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced it has entered into a definitive agreement to acquire American Petroleum Tankers (APT) and State Class Tankers (SCT) from affiliates of The Blackstone Group and Cerberus Capital Management for $962 million in cash. APT and SCT are engaged in the marine transportation of crude oil, condensate and refined products in the United States domestic trade, commonly referred to as the Jones Act trade.
The Importance and Value of Marine Industry Training
The Coast Guard Marine Industry Training Program offers incredible opportunities for Coast Guard employees to intimately learn specific facets of the marine industry. Participants of the program work directly for industry partners for up to 1 year. In addition to building superior government/industry working relationships, the program affords industry sponsors an opportunity to share detailed business considerations and limitations, so that Coast Guard regulatory activities most effectively promote safety, while limiting undue burden on the maritime industry.
Houston Ship Channel Expansion Planned
Kinder Morgan announces land purchase, plans to construct dock and expand terminal capacity on Houston Ship Channel. Kinder Morgan Energy Partners say they will invest $106 million to purchase approximately 20 acres adjacent to its Pasadena, Texas, terminal, build nine new tanks with a storage capacity of 1.2 million barrels at its Galena Park terminal under long-term customer agreements, and construct a new barge dock that is expected to help relieve current barge congestion in the Houston Ship Channel.
Proposed Canadian LNG Export Terminal Gets License
The federal government approves a 25-year export licence for shipping LNG from Kitimat, a West Coast terminal proposed by a Shell consortium . The licence awarded to LNG Canada, a consortium of Shell, Korea Gas Corp., Mitsubishi Corp., and PetroChina International, will allow the export of up to 24 million tonnes of LNG per year, the largest of three export licences awarded to date, according to The Canadian Press. The LNG Canada terminal is one of five proposed for the B.C. coast, and the project has yet to undergo an environmental assessment. Plans to make the B.C.
Export of US LNG: Company to be Formed
Shell US Gas & Power & Kinder Morgen subsidiary Southern Liquefaction Company to exploit LNG export opportunities. The two companies have announced their intent to form a limited liability company to develop a natural gas liquefaction plant in two phases at Southern LNG's existing Elba Island LNG Terminal, near Savannah, Ga. Subject to various corporate and regulatory approvals, Shell and Kinder Morgan affiliates have agreed to modify EPB’s Elba Express Pipeline and Elba Island…
NY Nor'easter Fails to Prevent 'Sandy' Pollution Clean-up
In anticipation of the winter storm which came on the heels of Hurricane Sandy, spill response teams based on New York’s Staten Island stopped work for just a day. NOAA’s Office of Response and Restoration is continuing aerial surveys of Arthur Kill, the waterway spanning New Jersey and New York which experienced several hazardous spills in the wake of Hurricane Sandy. These surveys serve as reconnaissance for responders managing the oil spill cleanup. Major response operations for the diesel spilled at the Motiva Refinery in Sewarren…
Sennebogen Quickens Turnarounds
Sennebogen accelerates turnaround, reduces costs in Charleston port with supersized electric drive scrap handler. The port facility receiving scrap metals for the nearby steel mill is now unloading barges and filling haul trucks 25% faster with its SENNEBOGEN 880 R-HD material handler. After commissioning a new 370,000 lb. SENNEBOGEN scrap handler at the Kinder Morgan Energy Partners barge facility in the Port of Charleston; the truck fleet use was reduced by 25% while still keeping pace with customers’ demand for material.