Read the Latest News Affecting the Tank and Terminal Industry
Magellan Weighs Partnership for New Texas Oil Export Terminal
Seeking Alpha, Feb. 21, 2020
Magellan Midstream Partners announced its tentative partnership with Sentinel Midstream to build the Texas Gulflink, a deepwater terminal for VLCCs moving oil out of the Gulf of Mexico. As part of the project, Magellan would build a pipeline connecting its East Houston storage and distribution system to the Gulflink terminal.
Diamond Green Diesel to Enhance Distribution Logistics per Agreement with St. Rose IMTT Terminal
WFMJ, Feb. 25, 2020
Diamond Green Diesel (DGD) and joint venture partner Darling Ingredients Inc. have entered into a long-term lease agreement with IMTT for use of their St. Rose IMTT Terminal in Norco, Louisiana. As part of the agreement, IMTT will construct two 5-mile pipelines connecting the St. Rose terminal with DGD's renewable diesel fuel facility in Norco.
Nancy Pelosi in Houston Touting Infrastructure Plans, Including Massive Ship Channel Makeover
abc13NEWS, Feb. 21, 2020,
U.S. House Speaker Nancy Pelosi joined Congresswomen Sylvia Garcia and Sheila Jackson Lee at a roundtable discussion with local business leaders in Houston to discuss the status of the Democrat's Moving Forward Framework and the Port of Houston channel transformation. Pelosi said while the project had backing in both the Democratic House and the Republican Senate, the project could be approved by the U.S. Army Corp of Engineers even if legislation fails.
Ares Management: EPIC Crude Announces Completion of Its 30” Permanent Crude Oil Pipeline and Upsize of the Existing Term Loan
Market Screener, Feb. 26, 2020
EPIC Crude Holdings has officially commissioned its 30" Crude Oil Pipeline extending from its Crane terminal to Robstown, Texas, with an initial capacity of about 600,000 bpd and operational storage of about 2.3 million barrels. The pipeline is expected to be fully operational by April 1, 2020.
ARB Midstream Announces the Appointment of Dan Campbell as Chief Executive Officer and John Roark as Chief Operating Officer
Newson6, Feb. 24, 2020
ARB Midstream, one of the largest, privately held midstream companies, announced that cofounder and CEO Adam Bedard will no longer be involved in the day-to-day leadership, but will instead focus on long-term strategies for the company as a member of ARB's Board of Directors.
Indonesian Government Plans to Raise Palm Oil Export Levy – Minister
Market Screener, Feb. 26, 2020
To further support expansion of its palm biodiesel program, Indonesia's chief economic minister, Airlangga Hartarto, announced that levies on palm oil exports will be increasing. Whether those increases will be progressive or flat remains undetermined as of press time.
Statistics - Canadian Crude Oil Exports by Rail – December 2019
Market Screener, Feb. 24, 2020
Despite a dip in volumes in October 2019, Canadian crude oil exports by rail rose steady throughout 2019, ending the year with December volumes off by less than 2% YoY.
Port Houston Chairman Testifies Before Congress, Stresses Need to Widen Houston Ship Channel
Safety4Sea, Feb. 7, 2020
Port Houston Chairman Ric Campo testified last month before the U.S. House Ways and Means Committee on the economic impacts the Shipping Channel widening and deepening will have and suggested expediting the project schedule to begin next year and finish by 2024.
Two Petroleum Terminal Bills Win Strong Backing from Legislative Panel
Portland Press Herald, Feb. 12, 2020
The State Legislature's Environmental and Natural Resources Committee gave strong support to two bills directing Maine's Department of Environmental Protection to monitor and control odors and air emissions at oil storage facilities. The bill also directs the agency to oversee cleanup and removal of 10 petroleum terminals upon their closure.
Corpus Christ Receives Avery Point Grant
BreakBulk, Feb. 18, 2020
The Port of Corpus Christi has been awarded a federal grant of more than $17 million, earmarked for the Avery Point Terminal redevelopment project. Phase One of the project consists of doubling berthing capacity at the Ship Channel's Inner Harbor.
The Federal Government’s 2020 Inland Impact
Maritime Global News, Feb. 18, 2020
2020 is shaping up to be a contentious year the U.S. maritime industry, with a number of proposed bills, federal projects and regulatory challenges on the horizon.
Saudi Arabia’s Oil Exports Dropped 11% In 2019
Markets Insider, Feb. 18, 2020
Crude oil exports from Saudi Arabia dropped by 10.75% YoY in 2019, with an average of 8.339 million bpd in 2019, down from an average of 9.344 million bpd in 2018. The kingdom took its hardest hit in September 2019 after sustaining attacks to its oil infrastructure.
Port, Pipeline Upgrades Accelerate Rapid Growth In U.S. Crude Oil Exports
Fairfield Geotechnologies, Feb. 2020
In the four years since the U.S. Congress lifted the ban on oil exports, the amount of crude oil being shipped out of the U.S. has nearly quadrupled with the numbers continuing to rise monthly.
Moving Grain: Major Barge Line Files for Bankruptcy
Ag Fax, Feb. 13, 2020
American Commercial Barge Lines (ACBL) has filed for Chapter 11 bankruptcy last month, although the company has already arranged a restructure plan with its creditors in a $1 billion debt reduction. Owning more than 19% of the existing covered barges in operation, the ACBL bankruptcy stems from navigational and trade-related challenges facing the industry as a whole.
Products Partners LP: Seaway to Extend Open Season
Market Screener, Feb. 12, 2020
Seaway Crude Pipeline Company announced it is extending its open season for committed service for capacity expansion of its system originating at Cushing, Oklahoma. Seaway also said it is considering adapting the open season terms to include additional crude types and other modifications.
McDermott Awarded Contract for EPFC Work
2News, Feb. 12, 2020
McDermott International, Inc. was awarded a contract by a major oil and gas operator to provide engineering, procurement, fabrication and construction for six floating roof crude oil tanks in Texas, linking the Permian Basin with the Texas Gulf Coast.
US Crude Export Outlook Falls 300,000 b/d for 2020 on Gulf Coast Refiner Demand
S&P Global, Feb. 11, 2020
Revising its expectations for 2020, S&P Global predicts U.S. crude oil exports will average about 3.6 million bpd for 2020, a drop by 300,000 bpd from their previous prediction. The report cites slower production growth and higher use of domestic, light, sweet grades by Gulf Coast refiners.
Government Divesting Crude-by-Rail Program
Market Screener, Feb. 11. 2020
Canceling previously made crude-by-rails contracts totaling $1.8 billion, Canadian government officials in Alberta say taxpayers in the province will save more than $200 million in taxes and have an estimated additional 120,000 bpd of crude available for consumer use.
UAE’s BPGIC proposes storage, refining expansions at Fujairah
Oil & Gas Journal, Feb. 11, 2020
Brooge Petroleum, & Gas Investment Co. FZC has signed a lease agreement with Fujairah Oil Industrial Zone for 450,000 square meters of additional land on which it plans to build Phase 3 of its operations, making it the largest oil storage and service provider in Fujairah, UAE.