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Crude oil loadings at Libya’s Zawiya Port continue after lifting of force majeure

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.

Port of Rotterdam reports reduction in fuel oil, increase in LNG

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.

Libya planning to accommodate VLCCs once again

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.

VLCC terminal to be built at Port of Corpus Christi

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.

Dalian port provides storage for Iranian oil before US sanctions

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.

New crude oil export terminal to be built at Texas

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.

Port of Corpus Christi searches fund to handle US shale export

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.

US Gulf Coast port limitations increase costs on US crude oil exports

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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