UPDATE 1-China Dalian Port receives first VLCC after blast

300,000-tonne oil berth resumes operations

* Tanker discharging at a pace one third of normal rate

* Slow speed due to temporary pipeline installed after blast (Adds details of first VLCC discharging now)

HONG KONG/BEIJING, July 29 (Reuters) – China’s Dalian Port is receiving the first very large crude carrier nearly two weeks after a pipeline blast that spilled oil into the sea and forced its only 300,000-tonne berth to shut, state media said on Thursday.

The resumption of oil discharging from China-flagged tanker “Yuanshanhu” started at midnight on Wednesday but it would be at a slower pace than before the accident after PetroChina, operator of the Xingang oil terminal, installed a temporary crude line.

A Dalian-based shipping agent told Reuters that the new crude line only allowed 5,000 cubic metres of oil flow each hour. That compares with a normal rate three times as fast, which means further potential delays in offloading arriving vessels or more cargoes being diverted.

“The idea is to lighten up the big tanker first before moving to the nearby smaller berth which can offload about 8,000 cubic metres per hour,” said the shipping official.

The vessel carries Middle Eastern crude for PetroChina’s WEPEC refinery, the 200,000 barrel-per-day plant close to the site of the accident that was forced to cut production and halt fuel exports after the explosion damaged two main pipelines and a crude tank at the port.

Dalian Port (2880.HK) said earlier on Thursday it had resumed operations at all its terminal and ground facilities, including the largest berth of 300,000 dead weight tonnage (dwt), the port said in a filing with the Hong Kong bourse.

Dalian Port also said it would start operating in the near future a super large crude berth, No. 22, designed to handle 450,000 dwt tanker, which will be the country’s largest. (Reporting by Donny Kwok in Hong Kong and Chen Aizhu in Beijing; Editing by Jacqueline Wong)

Sonar scanners find ancient wrecks off Italian coast

(Reuters) – A team of marine archaeologists using sonar scanners have discovered four ancient shipwrecks off the tiny Italian island of Zannone, with intact cargoes of wine and oil.

The remains of the trading vessels, dating from the first century BC to the 5th-7th century AD, are up to 165 meters underwater, a depth that preserved them from being disturbed by fishermen over the centuries.

“The deeper you go, the more likely you are to find complete wrecks,” said Annalisa Zarattini, an official from the archaeological services section of the Italian culture ministry.

The timber structures of the vessels have been eaten away by tiny marine organisms, leaving their outlines and the cargoes still lying in the position they were stowed on board.

“The ships sank, they came to rest at the bottom of the sea, the wood disappeared and you find the whole ship, with the entire cargo. Nothing has been taken away,” she said.

The discoveries were made through cooperation between Italian authorities and the Aurora Trust, a U.S. foundation that promotes exploration of the Mediterranean seabed.

The vessels, up to 18 meters long, had been carrying amphorae, or large jars, containing wine from Italy, and cargo from North Africa and Spain including olive oil, fruit and garum, a pungent fish sauce that was a favorite ingredient in Roman cooking.

Another ship, as yet undated, appeared to have been carrying building bricks. It is unclear how the vessels sank and no human remains have been found.

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The vessels are the second “fleet” of ships to be discovered in recent years near the Pontine islands, an archipelago off Italy’s west coast believed to have been a key junction for ships bringing supplies to the vast warehouses of Rome.

“One aim was to test the hypothesis that the Pontine islands, which are very small and which were barely inhabited in antiquity, were really important maritime staging posts because they had very good natural harbors,” Zarattini said.

The team hope to find a secondary cargo of smaller items which they believe would have been stowed in straw and may be well preserved under the crustacean-clad sediments.

Last year, the project found five wrecks off nearby Ventotene, an island used in Roman times to exile disgraced Roman noblewomen. The Emperor Augustus sent his daughter Julia there to punish her for adultery.

Italy has signed a new UNESCO agreement that requires them to leave the wreckage in place, potentially opening the way to would-be treasure hunters although Zarattini said the benefits in terms of tourism outweighed the risks.

“We think the sea, which is particularly beautiful around these islands, can become a real museum,” she said.

“In the future, not so far off, a lot of people will be able to go down and see the wreckage themselves.”

(Additional reporting by James Mackenzie; editing by Andrew Roche)

Four BP marine fuel traders in Asia resign-sources

June 10 (Reuters) – Four Singapore-based marine fuel traders have resigned from BP (BP.L), the largest bunker player in the oil and shipping hub, which comes after most of the oil major’s global fuel oil team members quit, three industry sources said on Thursday.

The four, including the head of the Asia bunker division and two senior traders who have been with BP (BP.L) for up to 10 years, tendered their resignation letters late last week and are serving notice.

In contrast, the fuel oil traders have physically left the company and are on three months’ gardening leave.

When contacted, a BP spokeswoman declined to comment.

“We do not comment on employees’ movements,” she said.

The resignations left BP’s bunker team, which handles small lots of residue fuel for supply to ships, with a staff of just two or three support personnel.

The latest departures brought the number of resignations from BP’s fuel oil and bunker fuel teams to 18. The fuel oil team, which handles larger cargo trades, is left with two traders on its Asia team — one trading physical cargoes and the other doing swaps.

Clive Christison, BP’s Director and CEO of its Eastern Hemisphere Integrated Supply & Trading division, recently confirmed an exodus of fuel oil traders but said the number was not as many as reported.

Christison said the earlier departures had not affected the firm’s fuel oil trading activities, adding that it still has a strong fuel oil team. [ID:nSGE6560EE]

BP also supplies marine fuels in major Asian ports, including Hong Kong, China and South Korea. (Reporting by Yaw Yan Chong; Editing by Ramthan Hussain)

Most ex-BP fuel oil traders go to China Brightoil: sources

(Reuters) – Most of the former BP fuel oil traders, who recently resigned from the major’s Asian and U.S. units, are expected to join Chinese trading firm Brightoil Petroleum, four industry sources said on Wednesday.

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They include BP’s former global head of fuel oil, Quek Chin Thean, ex-Asia team leader Edmund Lau and ex-chief U.S. fuel oil trader Tim Gawne, the sources said. Some other members of the trading team and support staff who left the oil major are also set to join the Hong Kong-listed Brightoil.

Brightoil chairman Raymond Sit could not be reached for comment on the matter.

Reuters had reported that 14 traders and support staff of BP’s fuel oil trading operations worldwide quit in the past month.

Brightoil’s hiring of the bulk of the ex-BP traders is seen as a coup that would benefit its trading capabilities, particularly in physical fuel oil cargo trading, where it does not yet have a presence, traders said.

“Brightoil has got a substantial presence in the South China bunker market and are growing in other parts of the country. Right now, they are buying cargoes from Singapore to supply their China outlets,” an industry source said.

“With the entry of the BP guys, they would be able to source for their own cargoes, do the blending themselves to optimize value and trade larger positions, especially in the swaps market. After all, that’s what the BP guys have made a career of doing successfully in the past 10 years or more.”

However, traders said Brightoil would have to expand its trading infrastructure in Singapore, particularly its oil storage capacity, if it has ambitions to be a major player in the market.

(Reporting by Yaw Yan Chong; Editing by Ramthan Hussain and Clarence Fernandez)

Most ex-BP fuel oil traders go to China Brightoil: sources

(Reuters) – Most of the former BP fuel oil traders, who recently resigned from the major’s Asian and U.S. units, are expected to join Chinese trading firm Brightoil Petroleum, four industry sources said on Wednesday.

U.S. | Green Business | Asian Markets | Gulf Oil Spill

They include BP’s former global head of fuel oil, Quek Chin Thean, ex-Asia team leader Edmund Lau and ex-chief U.S. fuel oil trader Tim Gawne, the sources said. Some other members of the trading team and support staff who left the oil major are also set to join the Hong Kong-listed Brightoil.

Brightoil chairman Raymond Sit could not be reached for comment on the matter.

Reuters had reported that 14 traders and support staff of BP’s fuel oil trading operations worldwide quit in the past month.

Brightoil’s hiring of the bulk of the ex-BP traders is seen as a coup that would benefit its trading capabilities, particularly in physical fuel oil cargo trading, where it does not yet have a presence, traders said.

“Brightoil has got a substantial presence in the South China bunker market and are growing in other parts of the country. Right now, they are buying cargoes from Singapore to supply their China outlets,” an industry source said.

“With the entry of the BP guys, they would be able to source for their own cargoes, do the blending themselves to optimize value and trade larger positions, especially in the swaps market. After all, that’s what the BP guys have made a career of doing successfully in the past 10 years or more.”

However, traders said Brightoil would have to expand its trading infrastructure in Singapore, particularly its oil storage capacity, if it has ambitions to be a major player in the market.

(Reporting by Yaw Yan Chong; Editing by Ramthan Hussain and Clarence Fernandez)

Most ex-BP fuel oil traders go to China Brightoil -sources

June 2 (Reuters) – Most of the former BP fuel oil traders, who recently resigned from the major’s Asian and U.S. units, are expected to join Chinese trading firm Brightoil Petroleum, four industry sources said on Wednesday.

They include BP’s former global head of fuel oil, Quek Chin Thean, ex-Asia team leader Edmund Lau and ex-chief U.S. fuel oil trader Tim Gawne, the sources said. Some other members of the trading team and support staff who left the oil major are also set to join the Hong Kong-listed Brightoil (2910.HK).

Brightoil chairman Raymond Sit could not be reached for comment on the matter.

Reuters had reported that 14 traders and support staff of BP’s fuel oil trading operations worldwide quit in the past month. [ID:nSGE64P0MF] [ID:nSGE64U0E3]

Brightoil’s hiring of the bulk of the ex-BP traders is seen as a coup that would benefit its trading capabilities, particularly in physical fuel oil cargo trading, where it does not yet have a presence, traders said.

“Brightoil has got a substantial presence in the South China bunker market and are growing in other parts of the country. Right now, they are buying cargoes from Singapore to supply their China outlets,” an industry source said.

“With the entry of the BP guys, they would be able to source for their own cargoes, do the blending themselves to optimise value and trade larger positions, especially in the swaps market. After all, that’s what the BP guys have made a career of doing successfully in the past 10 years or more.”

However, traders said Brightoil would have to expand its trading infrastructure in Singapore, particularly its oil storage capacity, if it has ambitions to be a major player in the market. (Reporting by Yaw Yan Chong; Editing by Ramthan Hussain and Clarence Fernandez)

Iran aims to become gasoline exporter – official

Iran seeks to become self-sufficient in gasoline in two years’ time and then to start exporting the fuel, an official said on Sunday, as some traders and international oil firms cease sales to the Islamic state.

The world’s fifth-largest crude exporter imports at least 30 percent of its gasoline needs but says the construction of new refineries will boost domestic output and make it less vulnerable to any future sanctions targeting such trade.

“By building new refineries we will become a gasoline exporter,” ISNA news agency quoted Ali Reza Zeighami, managing director of the National Iranian Refining and Oil Products Distribution Company, as saying.

“The plan is to become self-sufficient in two years’ time … by implementing the scheme to increase gasoline production in refineries,” Zeighami said.

Officials also hope a plan to phase out energy subsidies will slow gasoline demand from Iranians now enjoying some of the world’s cheapest fuel, at 1,000 rials (10 U.S. cents) a litre.

In the 2009-10 year, Iran produced 44.6 million litres of gasoline every day but consumed 64.9 million litres, forcing it to import the difference, according to official figures.

U.S. politicians are working on legislation to penalise fuel suppliers to Iran in an effort to pressure Tehran to stop uranium enrichment.

The West says Iran is using its atomic programme to develop a nuclear bomb, while Iran insists it is for electricity.

Asia-based industry sources said earlier this month that Iran’s gasoline imports in May were expected to drop by about 20 percent versus the previous month.

In April, senior management at Russia’s No.2 oil company, LUKOIL, verbally instructed traders involved in gasoline sales to Iran to cease business activity with Tehran.

Malaysia’s state oil company also said it had ceased sales to Iran.

But last month state-run ChinaOil sold two gasoline cargoes to Iran, the first known direct sales to the OPEC member. Previously sales from China were mostly done via third parties.

Separately on Sunday, Iran’s ILNA news agency said an Iranian state energy firm would on June 3 launch a new 250 million euro bond offering to help finance development of the giant South Pars natural gas field in the Gulf.

Part of a one-billion euro bond sale, the first two tranches were offered in March and early May, Iranian media reported. It represents a rare bid by Iran, under U.N. and U.S. sanctions over its nuclear work, to raise capital in this way.

(Reporting by Ramin Mostafavi and Hashem Kalantari; writing by Fredrik Dahl; editing by Louise Heavens)

Chinaoil sells gasoline direct to Iran-trade

DUBAI, April 14 (Reuters) – State-run Chinaoil has sold two gasoline cargoes for April delivery to Iran, industry sources said on Wednesday, stepping into a void left by fuel suppliers halting shipments under threat of U.S. sanctions.

The cargoes were Chinaoil’s first direct sales to Iran since at least January 2009, according to Reuters Data. Chinese firms have previousluy sold through intermediaries, traders said. [ID:nPEK505199]

“Prior to this there was some third party trades going on, but this was a direct sell,” a trader said. (Reporting by Luke Pachymuthu; Editing by James Jukwey)

IATA chief says further airline mergers essential

TOKYO, April 12 (Reuters) – Further mergers among airlines are essential in order to cut costs and improve competitiveness in an industry seen sustaining combined losses of $2.8 billion this year, the head of airline industry body IATA said on Monday.

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“Mergers and consolidation is a must … I strongly support consolidation,” Giovanni Bisignani, director-general of the International Air Transport Association, told few reporters in Tokyo.

Asked about a possible merger between United Airlines (UAUA.O) and US Airways (LCC.N), he said he would not comment on individual deals.

IATA said on March 30 that airlines were climbing out of recession with strong rises in passenger travel and cargoes in February. Passenger demand in February was up 9.5 percent from a year earlier, while supply increased by only 1.9 percent. [ID:nLDE62T0SK]

(Reporting by Yumiko Nishitani)

Common mechanism may underlie many neurodegenerative diseases

London, January 12 (ANI): An international consortium led by Mayo Clinic researchers have announced the discovery of a mechanism that may help further scientists’ understanding of Parkinson’s disease, and other neurological disorders.

The researchers have revealed that they studied eight families worldwide, and found a genetic defect that results in profound depression and parkinsonism in a disorder known as Perry syndrome.

They agree that this syndrome is rarely reported, but insist that the mechanism implicated in it may help explain the origins of a variety of neurodegenerative disorders, such as Parkinson’s and amyotrophic lateral sclerosis diseases, and even common depression and sleep disorders that are also hallmarks of the disorder.

During the study, the researchers found that Perry syndrome patients have mutations in a subunit of the dynactin complex (DCTN1; p150glued), which is essential to the movement of molecular “cargo” inside brain cells, or neurons.

They describe this mutation as a condition wherein the cargo was being driven on a “train” that essentially had faulty brakes.

Given the resemblance between Perry syndrome and many other neurodegenerative diseases, the researchers say that their findings suggest that breakdowns along the cell’s interior transportation grid may be a common mechanism underlying neurodegeneration.

“Understanding why distinct neurons are selectively vulnerable to neurodegeneration in different brain disorders is one of the greatest puzzles in neuroscience,” Nature Genetics quoted the study’s lead investigator, Dr. Matthew J. Farrer, a professor of neuroscience at Mayo Clinic, as saying.

“These findings suggest that trafficking of specific cargoes inside brain cells may be a general problem in a variety of neurodegenerative diseases, depression, and other disorders,” he added.

Study’s senior author Dr. Zbigniew K. Wszolek, professor of neurology at Mayo Clinic said: “It points us to a unified theory of what is going wrong in many of them.”

Upon studying the eight families with Perry syndrome, the Mayo-led team found that each family had one of five novel mutations in the DCTN1 gene, whose protein produces a large subunit of the dynactin complex known as p150glued.

This protein is known to be crucial to the movement of cargo along the microtubule rails.

“Curiously, the mutations all cluster in the p150glued cytoskeleton-associated protein glycine-rich domain and its ‘GKNDG’ binding motif. This region acts like a parking brake, so Perry mutations in p150glued mean that this brake is affected. It would be analogous to driving that train with faulty brakes,” Dr. Farrer says.

The researchers were surprised to see the similarities between Perry syndrome and other neurodegenerative diseases, and noted that Perry mutations in DCTN1 were physically very close to a mutation previously reported in familial motor neuron disease.

“With the discovery of mutations in Perry syndrome, researchers have a new means to explore the breakdown in the microtubule transport system in each of these diseases,” says Dr. Farrer.

“The insides of neurons are very dynamic. Molecules and organelles are constantly being moved to where they are needed, so it makes sense that these disorders, with aging, may be caused by a progressive breakdown in this transport system,” the researcher added.

Dr. Wszolek said that understanding Perry syndrome might shed light on both depression and metabolic syndromes. (ANI)