Russia’s Crude Exports Shrug Off Halt to Key Pacific Grade
By Julian Lee (Bloomberg) — A temporary halt in shipments of Russia’s Sokol crude from Sakhalin Island on the Pacific Coast was offset by a surge in flows of ESPO from nearby Kozmino,...
Three Crowley-managed tankers have been chosen by the U.S. Maritime Administration (MARAD) to participate in the Tanker Security Program (TSP), aimed at ensuring the availability of fuel supplies for the U.S. Department of Defense in times of need, Crowley confirmed Wednesday.
The three selected medium-range tankers—Stena Immaculate, Stena Imperative, and Stena Impeccable—are part of a joint venture between Crowley and Stena Bulk USA.
As part of their participation in the program, the vessels will be reflagged as U.S.-registered vessels with U.S. crews. While they will continue their international commercial operations, their participation in the TSB means they can also be chartered on a short-term basis to support U.S. military operations.
The Tanker Security Program is a public-private partnership initiative created to maintain an initial fleet of 10 U.S.-flagged and -owned product tankers that operate in the international commercial sector. The fleet will be available to the Department of Defense in times of armed conflict or national emergency to secure the supply of fuel. Modeled after MARAD’s existing Maritime Security Program (MSP), the TSP program is designed to meet national defense and security requirements.
Participating companies receive a $6 million annual stipend for each enrolled ship.
Crowley and Stena Bulk have previously partnered to meet the energy needs of the government and military. In 2022, Crowley secured the Military Sealift Command charter contract for the Stena Polaris, an Ice Class tanker responsible for supplying bulk fuel to the U.S. Department of Defense in the Arctic, Antarctic, and Mediterranean Sea regions.
Last month, Overseas Shipholding Group (OSG) also announced that three of its medium-range tankers—Overseas Santorini, Overseas Mykonos, and Overseas Sun Coast—had been selected to participate in the Tanker Security Program.
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