Update: Oil Traders to Store Millions of Barrels at Sea

 

 

 

Update: Oil Traders to Store Millions of Barrels at Sea

 

BY MarEx 2015-01-13 14:12:57

Some of the world's biggest oil traders have booked supertankers to store at least 25 million barrels at sea in recent days, seeking to take advantage of the crash in crude prices and make a profit down the line.

Floating storage levels are expected to increase further in coming weeks as trading companies adopt a strategy that was last used in 2009 when prices slumped and led to over 100 million barrels of oil being parked on tankers at sea before stocks were sold off.

The play is also driving up tanker hire rates, and shipping firms have seen their share prices surge in recent days.

In the past

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ExxonMobil's PNG LNG Capability Grows

 

 

 

BY Wendy Laursen 2015-01-13 19:11:04

Papua New Guinea’s PNG LNG gas project is one of very few gas projects worldwide that was completed ahead of schedule. Construction on the $19 billion project began in 2010, and for Peter Graham, managing director of ExxonMobil PNG Limited, the project has been a journey that will continue for many years to come.

“We installed hundreds of kilometers of steel pipe and two modern gas processing facilities into one of the most remote, rugged and socially complex locations in the world, and did so in an environmentally and socially responsible manner,” says Graham. “However what is important is not just the physical assets that were built; we also committed to building capacity in Papua New Guinea and

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Channel emissions controls are a boost for bunkering

 

 

 

Channel emissions controls are a boost for bunkering

Channel emissions controls are a boost for bunkering

First published Thursday 8 January 2015 in News

Once again Falmouth’s strategic location at the gateway to the Channel is boosting bunker sales as ships comply with the stringent new Emission Control Area (ECA) regulations that came into force on January 1st.

All ships now travelling in a designated ECA must burn fuel with a sulphur content of less than 0.1 per cent. Vessels inward from the west and south entering the ECA will have to burn low sulphur fuel as they pass the longitude of five degrees west which is just east of St Anthony’s lighthouse.

 

The

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España, el país de la UE con más terminales de GNL

 

 

 

 

Energía Euro press

25 de Nov de 2014 - 08:49 PM

 

 


Los barcos utilizan cada vez más el GNL, gas natural licuado, de forma que se prevé que para 2020, consumirán 7 millones de toneladas de este combustible, en lugar de otros más caros o más contaminantes. España ocupa el primer puesto en número de terminales de descarga y regasificación en Europa, siendo el destino del 36,5% del GNL que se descargó el año pasado en la Unión Europea

En Galicia se ha celebrado la Jornada, «GNL, el futuro del transporte marítimo», donde los sectores gasista y naval españoles se han reunido para estudiar la implantación del gas natural licuado como combustible para buques, uno de los grandes retos de la navegación a

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BIMCO Terms 2015 for bunkers now available

 

 

BIMCO's new standard bunker contract – the BIMCO Terms 2015 – is now available to the industry. The objective of the BIMCO Terms 2015 is quite simple – to provide the industry with carefully thought through terms and conditions for the purchase and delivery of marine fuels that are fair to both parties and provide a comprehensive starting point for negotiations. Harmonisation will help bring certainty to these negotiations and assist parties to a bunker contract to manage their risk and reduce the likelihood of disputes occurring.

Creating a globally acceptable set of terms and conditions for the purchase of bunkers has been a challenging task, an essential part of which was finding common ground between sellers and buyers while taking into account different regional

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