Port Bureau Updates
Dow Completes Separation from Dow DuPont
Dow successfully completed its separation from DowDuPont, becoming a more focused, streamlined, and leading materials science company. Dow launches with global scale and leading positions in three consumer-driven segments: packaging, infrastructure and consumer care. Dow is now better positioned to drive revenue growth and innovate for its customers, leveraging three advantaged building blocks – ethylene, propylene and silicones – to power one of the deepest chemistry sets in the industry.
“Today marks the beginning of a new and exciting chapter for Dow,” said Jim Fitterling, chief executive officer. “The changes we have made to Dow’s portfolio, cost structure and mindset are significant. The new Dow is a more focused and streamlined company with a clear playbook to deliver long-term earnings growth and value creation for all stakeholders. Team Dow is well positioned to achieve our ambition of becoming the most innovative, customer-centric, inclusive and sustainable materials science company. We have all the tools in place to innovate more quickly, to operate more productively, and to invest more prudently to deliver value creating growth, higher returns and enhanced shareholder value.”
“Today we celebrate this milestone with our customers, communities, investors, and Team Dow,” said Howard Ungerleider, president and chief financial officer. “With our focused portfolio, streamlined cost structure, disciplined approach to capital allocation, and shareholder friendly capital return framework, the new Dow has the right capabilities and team to drive best-in-class operating and financial performance.”
The new Company will be referred to by the brand name “Dow,” acknowledging the remarkable legacy while also reflecting the company-wide evolution to a materials science solutions provider. Dow is adopting a new brand line – “Seek Together” – which is a call to action that highlights the value of collaboration to deliver innovation and solutions to our customers and value chains. It represents the way Dow seeks to collaborate with all of its stakeholders as it delivers on its ambition. The iconic Dow Diamond, which has stood as the Company’s logo for more than 120 years, is unchanged and will continue to be a core element of the Dow brand.
ExxonMobil will produce IMO 2020 compliant low sulphur fuels available by the third quarter of 2019
ExxonMobil has been preparing for the low sulphur business landscape since 2015. “Logically we can deploy an effective supply chain where ports are in proximity of our manufacturing assets. This is where we are focusing our first wave of IMO 2020 compliant fuels,”,” Luca Volta, marine fuels venture manager at ExxonMobil said. “We will be ready with the products and point of sales by the third quarter of 2019. That’s when we expect marine customers will start to bunker as the deadline of 1 January 2020 approaches,”.
ExxonMobil named the ports of Antwerp, Rotterdam, Genoa, Marseilles, Singapore, Laem Chabang and Hong Kong, where the compliant fuels will be available and locations in North America later.
“Singapore is the largest bunkering fuel market in the world, and from ExxonMobil’s standpoint we also have one of our largest manufacturing facility there [Jurong]. Capacity expansion at the site means we are also going increase our capability to produce marine gas oil and fuels,” Volta said.
He stressed that ExxonMobil wants to be at the forefront of a competitive and changing marine fuels environment.
“That means aspiring for the widest possible IMO 2020 compliant fuels provision. The top 10 global ports account for 50% of bunkering fuels, and the next 10 account for a mere 5%, followed by a plethora of other ports,” he was reported saying.
“It will be challenging for all of them to adapt; but all the top 10 ports will have product available. ExxonMobil wants to be a significant player in this post IMO 2020 marine bunker and fuel market, and we are digging deep to make it happen.”“Marine fuels do have some latitude over, say, ground transportation and aviation fuels. While both transportation and aviation fuels have several stringent parameters, in the case of shipping fuels two keenly regulated aspects are sulfur and flash, where we worked with the industry to make it happen on combustion and compatibility properties,” Volta said. While the use of 0.5% sulphur fuels is the direct solution to meet the IMO regulation, Volta noted that there is
also the camp that has opted to use scrubbers so as to continue burning 3.5% sulphur fuels.
Volta said ExxonMobil will work with shipping customers who use scrubbers. “The latest market projections point to a couple of thousand scrubbers by 2020. Let’s say these projections miss the mark by 100% and that there will be 4,000 ships fitted with scrubbers,” he said.
“What is a figure of 4,000 ships in a global context with 55,000 ships moving about the world’s shipping lanes? Many VLCCs and large ore carriers are indeed fitting scrubbers and such customers matter, but we are still talking less than 10% of a potential serviceable customer base.
“Today bunker consumption is around 5 million barrels per day (bpd) and we see that increasing to more than 8 million bpd by 2040. Notionally, when we look at the fuel mix – 10% will be LNG, 30% will be distillate fuel oil, and the remainder will be residual in nature from high to low sulphur. We are heading to the ‘0.50 world’ and not sitting back.”
Union Pacific Railroad will eliminate Houston-Dallas Route
Union Pacific Railroad is North America’s largest Class I and the principal operating company of Union Pacific Corp. The railroad operates 32,000 route miles in serving 23 states in the U.S. West Coast and Gulf Coast ports, as well as connecting with Canada’s rail systems in Idaho, and exchange points in Illinois, Minnesota and Wisconsin.
In April because of low volume, the Union Pacific (UP) Railroad announced it will eliminate the Houston-Dallas route. The UP’s Unified Plan 2020 eliminated low-yield eleven routes, one route was the Barbours Cut to Dallas rail service (one train per week/low volume). Imports moved by cargo owners from Port Houston to Dallas will have fewer surface transport options and will have to explore truckload and drayage truck options with their providers. The route was originally was to commence on March 30. However, UP later extended the date for the service to/from Barbours Cut Terminal until April 26th to accommodate shipments underway at sea.
Vision of the Seas again sailing from the Port of Galveston
“We are delighted to have Vision of the Seas back in Galveston even if for a short time. Her return of is good for the Island and the Port since it fortifies Royal Caribbean’s commitment to Galveston and the Texas and Midwest cruise market,” said Rodger Rees, CEO and Port Director. “We are also excited and looking forward to welcoming her sister ship, Enchantment of the Seas this upcoming May.”
Vision of the Seas has an overall length of 915 feet and the Port anticipates an average of 2,150 passengers per cruise. Royal Caribbean International has scheduled eight 4 and 5-night cruises and one 7-night cruise during this spring cruise season.
The Port of Galveston is the region’s gateway to the Gulf for cruise ships and handles over 1.8 million cruise passenger movements annually.
Port Freeport appoints Rob Lowe as Port Freeport Director of Administration and CFO
Port Freeport announced the appointment of Rob Lowe as Port Freeport Director of Administration and Chief Financial Officer (CFO) with responsibility for the accounting and financial reporting, treasury, risk management, financial analysis and human resource management.
Lowe joins Port Freeport from BASF with more than 20 years of managerial experience including leading multi-business unit accounting activities, financial leadership support, acquisition integrations, contract reviews, and organizational designs. Lowe holds a Bachelor of Science in Accounting from the University of South Carolina. He is also an active member of the local community as a volunteer board member of Boys and Girls Club of Brazoria County, as well as served on the Finance Committee of Brazosport Regional Health System.
ExxonMobil appoints Karen McKee as president of ExxonMobil Chemical Company
Exxon Mobil Corporation appointed Karen McKee, senior vice president for basic chemicals, integration and growth, to be president of ExxonMobil Chemical Company replacing retiring president of ExxonMobil Chemical Company John Verity after 38 years of service.
McKee joined Exxon Chemical Company in the United Kingdom in 1990, where she held a range of assignments in chemical manufacturing and refining. Following roles in Brussels, Belgium and Houston, Texas, she was appointed vice president of the Adhesion Industry Global Business Unit in 2007. In 2010, she became vice president of operations for Lubricants & Specialties and subsequently for Fuels, Lubricants & Specialties, based in Fairfax, Virginia.
McKee was appointed executive assistant to the chairman, based in Irving, Texas, in 2013, and became vice president of Basic Chemicals in 2014. She assumed her current position in 2017.
McKee was born in Enniskillen, Northern Ireland, and has a master’s degree in chemical engineering from the University of Nottingham, England.
Rice University bioengineer Maria Oden elected AIMBE Fellow Engineering (AIMBE) College of Fellows
She is one of 156 new fellows elected this year by peers and members of the college for her “seminal contributions to the advancement and acceleration of medical and global health technologies through programs in invention education and training.” A formal induction ceremony for Oden and the 2019 class of AIMBE fellows will take place today at the AIMBE Annual Event at the National Academy of Sciences in Washington.
AIMBE is an organization of leaders in medical and biological engineering that consists of academic, industrial, professional society councils and elected fellows who communicate with and respond to U.S. and state government agencies and lawmakers to advocate science and contribute to policymaking that benefits the public.
- Date April 25, 2019
- Tags 2019 March/April