Author Archive
02 Mar 2017
The price of oil goes down further after reports of record high U.S. Oil reserves
The price of oil ended up even lower on Wednesday as record high U.S oil reserve figures. Crude stockpiles in the United Sates rose by 1.5 million barrels last week and now stand at 520 million barrels. Even with the OPEC cuts in production and strong compliance at around 94% the price remains low. The
29 Jun 2016
Oil prices rise as Norway threatens strike and Venezuela oil production in crisis
Brent crude futures were trading at $48.95 per barrel and U.S crude has climbed to $48.49 a barrel. There has been a lot of pessimism among oil investors over the last few months and with the Brexit vote oil dropped to 7 week low. However this effect has been short lived as it has become
19 May 2016
What is a Conventional Buoy Mooring?
Conventional Buoy Moorings Buoys are often associated with systems designed to take real-time measurements of the ocean or to warn ships of reefs and other dangerous items. Buoys can also be used to help divers mark their position while underwater, to provide guidance for ships entering into a port and even to detect tsunamis while
13 May 2016
Gulf of Mexico oil release of 2100 barrels
There has been a release of oil from infrastructure beneath the sea in the Gulf of Mexico. Shell have confirmed this leak was spotted by a helicopter observing a sheen floating on the water. Shell have estimated this leak is around 2100 barrels of oil. Shell confirmed on Thursday that it shut all wells that
11 Apr 2016
MARITIME INSURANCE
Owning a marine craft exposes you to a lot of risks both to the occupants of the craft and the craft itself. To guard oneself against such dangers, it is prudent to take an Insurance cover. Marine insurance is a very wide policy area. The policy covers a variety of items; damage or loss of
05 Apr 2016
The Important Features That Make Marine Breakaway Couplings So Vital
Marine Breakaway Couplings (MBCs) are an essential safety device in many onshore and offshore installations where fluids are transferred from vessel to vessel, usually under a considerable amount of pressure. In these conditions, an uncontrolled failure of the fluid transfer system can have potentially devastating consequences, both in terms of human safety and in damage
05 Apr 2016
BP ordered to pay $20 Billion settlement for 2010 oil spill
BP Oil settlement set at $20 Billion A New Orleans federal judge in the US state of Louisiana has granted final approval to an estimated $20bn settlement over the 2010 BP oil spill in the Gulf of Mexico. At the US district court in New Orleans judge Carl Barbier has issued an order confirming the
04 Feb 2016
Complete Guide to Marine Breakaway Couplings
Marine Breakaway Couplings – Protecting Against the Inherent Dangers of Fluid Transfer in a Marine Environment Despite the ongoing development of pipelines across many parts of the world, the transportation of fluids such as crude oil from their source to their destination is still largely done via ocean-bound tanker. Considering the potential flammability and highly
08 Jan 2016
The cost of Oil Spills
The reported oil spill cost of the BP Gulf oil spill is now estimated to be $54 Billion. The oil spill was more than 230,000 tons of crude oil and carried on for 87 days, which made it the biggest oil spill in U.S history. If you look at past oil spills this will undoubtedly
30 Nov 2015
Marine transfer operations ship to shore
Marine Transfer Operations Ships to shore marine transfers are carried out around the world between tanker ships and marine terminals. These should be supervised by a person in charge on the vessel and a person in charge on the dock. The transfer should also be overseen by a marine inspector or surveyor. There are strict