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Japanese firm to buy 800,000 m.t. of LPG from Targa over 2017–20

11:27 AM MST | February 24, 2015 | Clement Choo

Astomos Energy (Tokyo) will buy up to 800,000 m.t. of shale-derived liquefied petroleum gas (LPG) from Targa Resources (Houston) spread over three years from the second half of 2017, Astomos said today. About 140,000 m.t. of the LPG will be...


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Stolt-Nielsen founder dies

Jacob Stolt-Nielsen, founder of Stolt-Nielsen Ltd. (SNL), died on 15 February, aged 83. Stolt-Nielsen retired from the board of SNL in December 2014, 55 years after he founded the company. He was chairman of SNL between 1959 and 2009, when he stepped...

Odfjell's net loss narrows, no benefit yet from lower fuel costs

Odfjell reported a net loss of $18 million in the fourth quarter of 2014, an improvement on the $101-million net loss posted by the company in the corresponding period of 2013. Revenue declined year-on-year in the fourth quarter to $245 million from $256...

Chemical traffic ebbs at Rotterdam, flows at Antwerp

Throughput of liquid chemicals in the port of Rotterdam decreased 7.4% in 2014 compared with 2013, to 30.9 million m.t., the Rotterdam port authority says. Incoming liquid chemical shipments decreased 3.6%, to 19.1 million m.t. and outgoing chemical shipments...

Stolt-Nielsen posts fourth-quarter profit decline, lower fuel costs to boost earnings this year

Stolt-Nielsen says its fourth-quarter 2014 net profit attributable to shareholders plunged to $13 million from $35 million in the corresponding quarter of 2013, on revenue of $532 million, up year-on-year (YOY) from $524 million. Stolt says that, excluding...

Mitsui secures two more ships for US LNG export project

Mitsui & Co. has signed two time-charter contracts for liquefied natural gas (LNG) ships slated for the Cameron LNG export project in Louisiana, the company announced today. The contracts were signed with subsidiaries of Mitsui OSK Lines (Tokyo) and...

Highfield Resources signs MOU with a second Spanish port

Highfield Resources (Pamplona, Spain) has signed a memorandum of understanding (MOU) with the Port Authority of Bilbao, Spain. The MOU confirms the availability of 25,000 sq meters of wharf space in the port for the construction of potash handling...

Australian firm signs potash export MOU with port authority in Spain

Highfield Resources (Pamplona, Spain) has signed a memorandum of understanding (MOU) with the port authority of Passaia/Pasajés, northern Spain, the company announced today. The MOU provides a nonbinding commitment of port capacity for all of the...

Petrobras ships first naphtha cargo from new Brazil refinery

Petrobras concluded the first naphtha shipment out of the company's newly completed Abreu e Lima refinery, in Brazil, earlier this week. The naphtha delivery is for Braskem, Petrobras says. A total of 56,650 cubic meters of naphtha had been produced at the...

Odfjell to cut jobs in restructuring plan, CEO steps down

Odfjell says that its board has approved a restructuring program that is expected to result in annualized improvements in the company's net profit of more than $100.0 million by 2016. The program will feature cost-saving initiatives related to operating...

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