Archive for the ‘shipping’ Category

Takeoff, eh? At time of need, New York jet fuel heads to Canada

New York jet fuel prices spiked from mid-July through August, and new data gives more insight why. Blame Canada.

Canada may be sending everything from comedians and crude into the US. But in July, it took in a good bit of US jet fuel, mostly out of New York.

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Kurdish attempts to sell oil are not going to get support from the Obama administration

For two months now, the United Kalavrvta tanker holding 1 million barrels of Kurdish crude has idled in international waters off the coast of Galveston, Texas, awaiting a District Court ruling on whether the oil will be allowed to be sold in the US.

But if the Kurdistan Regional Government is hoping that the Obama administration will soften its stance in opposition to Kurdish oil exports, that doesn’t appear likely, even as the US seeks to aid the Kurdish peshmerga in their fight against the Islamic jihadist group IS.

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US shale boom writes a tale of two emerging classes of gas carriers

Growing natural gas liquids production spurred by the US shale gas boom has stoked interest in new classes of ships to move ethane and LPG across oceans: very large ethane carriers and ultra large gas carriers.

The first VLEC orders have been placed and could keep shipyards busy for years, even as more are built to move cheap US ethane to Asia and Europe. But the time for ULGCs is yet to come.

After years of uncertainty because of economics, paltry demand and ballooning supply, the future is looking bright for ethane as appetite emerges in Europe and Asia, and with it the need for longer-haul and larger vessels.

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The shipping business gets ready — with new fees — for the dawn of cleaner fuels

The bunker fuel market in the Atlantic Basin is just a bit more than 100 days away from the next shift in the sulfur emissions cap on ships traveling within 200 miles of shore in North America and North West Europe, a designated Emissions Control Area. And some of its impact on costs is starting to show up.

After several months of vague rumblings about higher costs, we’re beginning to see a clearer picture of just how much more shippers expect to pay to comply with this stricter rule. MSC on Monday became what we believe is the third company to announce per-container surcharges intended to offset its expected higher fuel bills come January.

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US oil refiners and marketers want Jones Act changes…but Capitol Hill doesn’t

Shortly after she was named chairman of the powerful Senate Energy and Natural Resources Committee earlier this year, Senator Mary Landrieu, a Louisiana Democrat, held a press conference to stress her strong support for the Jones Act.

“The Jones Act is a jobs act, pure and simple,” Landrieu said of the nearly 100-year-old law which requires all vessels shipping cargo between two US locations to be US built, majority US-owned and at least 75% of the crew to be US citizens.

Surrounded by shipping industry representatives, Landrieu criticized the Obama administration for attempts to weaken the act’s purpose. “Waiving the Jones Act literally hands over work to foreign shippers,” she said.

Perhaps most surprising about the press conference, one of the few Capitol Hill press events Landrieu has hosted since taking helm of the energy committee, is that it was not in response to new legislation aimed at weakening the Jones Act, nor was it in response to another potential waiver to the act.

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Petrodollars: China builds up its oil tanker fleet

Everyone talks about Chinese demand for oil. But the Chinese are also increasing their demand for the ships that move that oil around. James Bourne looks at the trend in this week’s Oilgram News column, Petrodollars.

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Goodbye to all that: oil, empire and August 1914

The onset of the First World War underlined the seismic change that was engulfing every aspect of life in the early part of the 20th century. As Europe’s great powers tumbled over the precipice into a catastrophic four years of carnage, few could envision the role that powered transportation would play in the conflict, or the toll that mechanized, industrialized warfare would extract from its youth.

In a war that left such an indelible mark on society, oil would for the first time play a significant role. To that end, the First World War is a significant landmark in the formation of corporations that came to dominate the 20th century. The age of the majors had dawned.

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Montreal could become an oil export hub as markets continue to shift

Montreal has emerged as an export base for Western Canadian heavy sour crudes as prospects to construct new pipelines to the British Columbia coast, Eastern Canada and US fade.

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Regulation & Environment: Canada’s aggressive on crude oil by rail regs; the US, not so much

Both the US and Canada have experienced fiery crashes of crude oil moving by rail; in Canada, it has also been tragic. The pace of regulations to deal with crude-by-rail in the wake of it are moving at very different paces in the two countries. Herman Wang looks at the differences in this week’s Oilgram News column, Regulation & Environment.

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Regulation & Environment: Canada tackles the oil by rail issue

Of all the crude-by-rail accidents, none was more devastating than the one in Lac Megantic, Quebec. That puts particular pressure on the Canadian government to deal with the issue of rail car safety, as Ashok Dutta discusses in this week’s Oilgram News column, Regulation & Environment.

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