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Displaying items by tag: Phillips 66

#WhiddyOilTerminal – Bantry Bay Oil Terminal has been acquired by Houston, Texas based Zenith Energy, an international liquids and bulk terminal company from Phillips 66.

The terminal has a storage capacity of more than 8 million million barrels holding a third of Ireland's strategic petroleum reserves. Zenith intends to continue operating the terminal on a commercial basis. 

For more the West Cork Times reports HERE. 

Phillips 66 continues to operate Whitegate Oil Refinery in Cork Harbour, the only such facility in Ireland. As previously reported on Afloat.ie the refinery at Whitegate was withdrawn from sale last year following attempts to find a buyer failed.

Mike King of Phillips 66 was among the speakers of the major energy conference "Cork Harbour – Energising the Region" held in December.

To read his presentation and others click HERE on topics that discussed the opportunities and challenges in terms of energy, industry and tourism for the harbour.

Published in Coastal Notes

#WhitegateOilRefinery – The Irish Independent writes that the US oil company, Phillips 66 has pulled the sale of Ireland's only oil refinery at Whitegate in Cork as attempts to find a buyer failed.

Last June, Phillips 66 hired Deutsche Bank to help sell the refinery. However, despite smoking out several potential suitors, the company and its advisers were unable to seal a deal.

Phillips 66 will continue to operate the refinery in Cork, although it may seek to offload a nearby storage facility in Bantry Bay. Around 200 staff are employed by Phillips 66 across its Irish operations. For more on the story click HERE

As previously reported on Afloat.ie last year the Government-commissioned a report that said the state did not need its own oil refinery as it can import enough of the fuel to meet all its needs.

For a copy of the report published by the Department of Energy, click HERE.

Published in Coastal Notes

Ferry & Car Ferry News The ferry industry on the Irish Sea, is just like any other sector of the shipping industry, in that it is made up of a myriad of ship operators, owners, managers, charterers all contributing to providing a network of routes carried out by a variety of ships designed for different albeit similar purposes.

All this ferry activity involves conventional ferry tonnage, 'ro-pax', where the vessel's primary design is to carry more freight capacity rather than passengers. This is in some cases though, is in complete variance to the fast ferry craft where they carry many more passengers and charging a premium.

In reporting the ferry scene, we examine the constantly changing trends of this sector, as rival ferry operators are competing in an intensive environment, battling out for market share following the fallout of the economic crisis. All this has consequences some immediately felt, while at times, the effects can be drawn out over time, leading to the expense of others, through reduced competition or takeover or even face complete removal from the marketplace, as witnessed in recent years.

Arising from these challenging times, there are of course winners and losers, as exemplified in the trend to run high-speed ferry craft only during the peak-season summer months and on shorter distance routes. In addition, where fastcraft had once dominated the ferry scene, during the heady days from the mid-90's onwards, they have been replaced by recent newcomers in the form of the 'fast ferry' and with increased levels of luxury, yet seeming to form as a cost-effective alternative.

Irish Sea Ferry Routes

Irrespective of the type of vessel deployed on Irish Sea routes (between 2-9 hours), it is the ferry companies that keep the wheels of industry moving as freight vehicles literally (roll-on and roll-off) ships coupled with motoring tourists and the humble 'foot' passenger transported 363 days a year.

As such the exclusive freight-only operators provide important trading routes between Ireland and the UK, where the freight haulage customer is 'king' to generating year-round revenue to the ferry operator. However, custom built tonnage entering service in recent years has exceeded the level of capacity of the Irish Sea in certain quarters of the freight market.

A prime example of the necessity for trade in which we consumers often expect daily, though arguably question how it reached our shores, is the delivery of just in time perishable products to fill our supermarket shelves.

A visual manifestation of this is the arrival every morning and evening into our main ports, where a combination of ferries, ro-pax vessels and fast-craft all descend at the same time. In essence this a marine version to our road-based rush hour traffic going in and out along the commuter belts.

Across the Celtic Sea, the ferry scene coverage is also about those overnight direct ferry routes from Ireland connecting the north-western French ports in Brittany and Normandy.

Due to the seasonality of these routes to Europe, the ferry scene may be in the majority running between February to November, however by no means does this lessen operator competition.

Noting there have been plans over the years to run a direct Irish –Iberian ferry service, which would open up existing and develop new freight markets. Should a direct service open, it would bring new opportunities also for holidaymakers, where Spain is the most visited country in the EU visited by Irish holidaymakers ... heading for the sun!