Page 4 - Hound Point News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Tanker Trade Still Underwhelming The tanker market is still rather undewhelming, as demand hasn’t yet rebounded to a level, sufficient to generate positive momentum. Examining North-West Europe crude oil export trade, shipbroker Banchero Costa said in a recent report that “2020 was overall a very negative year for crude oil trade, although of course the tanker market was partially shielded by the increased demand for floating storage. Total loadings in the 12 months of 2020 were down -5.6% year-on-year to 2027 million tonnes, according to vessels tracking data from Refinitiv. Some exporte...

Forties oil work to drive drop in June Brent benchmark supply – source The North Sea Forties crude oil stream will load only one or two cargoes in June due to planned maintenance work, two trade sources said on Thursday, reducing supply of the crude that underpins the global Brent benchmark. “It’s going to be a tiny programme,” one of the sources said, adding that the Hound Point terminal where Forties cargoes load would be closed for most of June. Forties is normally the largest or second-largest of the five crude grades that underpins Brent, loading as many as 15 cargoes in a month....

(Photo: Sanmar) Turkey-based Sanmar Shipyards delivered two line-handling pusher crafts to Scotland-based Targe Towing for operations at the Hound Point oil export terminal on the Firth of Forth. Targe has provided services for Ineos at Hound Point, Scotland’s largest oil export terminal, for almost 30 years and the main task of the new additions to its fleet will be line handling operations assisting the berthing of large crude oil tankers up to VLCC. They will also support pollution response and safety patrols’ and will transport crews and light stores to and from the terminal. The Iyid...

Forth Ports is to expand its marine services business after agreeing a deal to buy a Scottish tugboat operator.Targe Towing operates services at ports in Aberdeen, Dundee, Montrose and Peterhead, as

The Valaris Gorilla VI leaves the Port of Dundee with the help of Targe and Forth Ports tugboats. Picture: Theo Currie By Kristy Dorsey Forth Ports has acquired Angus tug firm Targe in a multi-million pound deal to create a marine services business “of scale” along the east coast of Scotland. Set up in 1991, Targe employs 90 people and was previously owned by the family of managing director Tom Woolley. Edinburgh-based Forth Ports has acquired the entire share capital of Targe for an undisclosed multi-million sum. Based in Montrose, Targe owns nine vessels, including five tugs pro...