Memphis, Tenn.-based Southern Towing Company (STC) said Tuesday it has acquired family-owned Devall Towing, in a deal that expands STC’s towing operations into specialty chemical products.Headquartered in Sulphur, La., Devall is a towboat and barge operator for specialty chemicals along the Gulf Intracoastal Waterway and Lower Mississippi River, operating 36 towboats and 125 liquid tank barges.
Lebanon's authorities signed a contract this month with a German company to clear dangerous material stored for more than a decade at Beirut port, the site of a seismic blast in August that killed about 200 people and wrecked swathes of the capital.Combi Lift, which signed the contract three months after a huge quantity of poorly stored chemicals erupted in a mushroom cloud
The inland waterway system, flowing through the United States heartland, is a microcosm of all that has been happening in 2020: trade tensions, infrastructure issues, shifting trends in fuel consumption and the pandemic that has gripped us since the winter months. Shortly after the initial coronavirus outbreak here in the U.S.
Oil traders are scouting for newly built supertankers to store diesel for the next few months as they brace for lower demand in Europe amid renewed restrictions aimed at battling the COVID-19 pandemic, shipping and trade sources said.Trading companies, including oil majors, are making enquiries to charter very large crude carriers (VLCC) to carry diesel with 10 parts-per-million (ppm) sulphur
A stalled global economic recovery from the coronavirus pandemic is leading to a fresh build-up of global oil supplies, pushing traders including Trafigura to book tankers to store millions of barrels of crude oil and refined fuels at sea again.The use of so-called floating storage onboard tankers comes as traditional onshore storage remains close to capacity as supplies outpace demand.
Initial investigations into the Beirut port blast indicate years of inaction and negligence over the storage of highly explosive material caused the explosion that killed more than 100 people, an official source familiar with the findings said.The prime minister and presidency have said that 2,750 tonnes of ammonium nitrate, used in fertilizers and bombs
Port states benefit greatly from the vessels that call at their ports, loading and unloading cargoes with great efficiency and speed. The items manufactured in those states and sold overseas keep many of their citizens gainfully employed. The items imported supply stock for the stores of their nation and provide goods for their citizens.
UK-based HydroWing and Dutch tidal energy developer Tocardo are working on a solution that will convert tidal energy into hydrogen, store it and offload it - similar to an FPSO in the oil and gas industry - to overcome the intermittency as well as the transportation issues.The concept called the THyPSO (Tidal Hydrogen Production
A jump in freight rates has shaved profits for oil traders seeking to store crude for sale towards the end of the year, even as the contango in the first six months for Brent futures stretched to its widest ever, trade sources said.While a sharp rebound in spot crude differentials could lift traders' profits
Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships to transport crude or store a fast-growing global glut of oil, industry sources said.Freight rates for very large crude-oil carriers (VLCC) along the Middle East Gulf to China route were assessed at about $180,000 a day on Monday, up from some $125
Trading house Glencore has chartered the 3 million barrel crude carrier Europe to store oil at sea for at least 6 months, trading sources on Tuesday.The vessel is one of two so-called ultra large crude carriers (ULCC), the largest tankers in the world.Glencore booked the vessel at a rate of $37,000 a day for the first six months, according to the sources.A Glencore spokesman declined to comment.
The U.S. Navy commissioned its newest Expeditionary Sea Base, USS Hershel “Woody” Williams (ESB 4), during a ceremony Saturday, March 7, in Norfolk, Va.USS Hershel “Woody” Williams is optimized to support a variety of maritime-based missions and designed around four core capabilities: aviation facilities, berthing, equipment staging support, and command and control assets.