Oiltanking MOGS Saldanha, a joint venture between Oiltanking GmbH, MOGS Ltd and Industrial Development Corporation of South Africa Ltd has commissioned a new crude oil terminal in the Port of Saldanha Bay.
Libyan National Oil Corporation declared a state of force majeure on crude oil loadings at Zawiya port beginning on July 20. This is because of an unlawful Sharara pipeline valve closure by an unidentified group between Hamada and the Zawiya port, suspending production. However, today (July 22), NOC announced that it lifted the force majeure.
In 2018, the sale of bunker oil in the Rotterdam bunker port fell from 9.9 million m3 to 9.5 million m3. This reduction can be explained by the decline in sales of heavy fuel oil from 8.3 million m3 to 7.9 million m3. On the other hand, the throughput of LNG as bunker fuel increased considerably from 1,500 to 9,500 tonnes. What is more, the introduction of the ‘Timetobunker App’ was successful.
According to Gibson Shipbrokers, Libya is planning to build a new port suitable for VLCCs to berth. The port will aspire to leverage its strategic location for vessels travelling between Asia and Europe through the Suez Canal and to and from the US. VLCCs have not fully loaded in port for more than 5 years because of a build-up in silt at the Es Sider terminal.
The Port of Corpus Christi entered into an agreement with Carlyle to develop a crude oil export terminal on Harbor Island, to connect the increasing crude oil production in the US with global markets. The terminal will be the first onshore location in the US able of providing export service to fully-laden VLCCs.
A large amount of Iranian crude oil will arrive at China’s Dalian port during October and the beginning of November, right before US sanctions on Iran apply. Namely, the National Iranian Tanker Company will ship more than 20 million barrels of oil to Dalian.
Enterprise Products Partners is planning to build an offshore crude oil export terminal off the Texas Gulf Coast. The terminal would be able of loading Very Large Crude Carriers, which have capacities of approximately 2 million barrels. The project could include about 80 miles of 42-inch diameter pipeline to an offshore terminal capable of loading and exporting crude oil at approximately 85,000 barrels per hour.
The Port of Corpus Christi, which is US’s largest oil export port will attempt to raise $300 million, in order to conduct work which will make the Port ready to handle the US shale export increase. A decision to raise fees for dredging, which could begin as of September, would be a rare move among US Gulf Coast ports.
EIA said that US crude oil exports averaged 1.1 million barrels per day in 2017 and 1.6 million b/d so far in 2018, an increase from less than 0.5 million b/d in 2016. This increase happened despite the fact that US Gulf Coast onshore ports cannot fully load Very Large Crude Carriers. Instead, export growth was achieved using smaller and less cost-effective ships.
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