Working Conditions Aboard the Shaden

Louisiana's Offshore Oil Port (LOOP), the largest privately-owned crude terminal in the United States, is advancing its operations with the arrival of the VLCC SHADEN, now securely moored for critical export testing. This significant development connects LOOP’s Clovelly Hub in Galliano, Louisiana, to its deepwater port located 18 miles offshore, following the completion of key modifications that enable bi-directional operations without the need for shuttle tankers. Since initiating the search for shipping partners back in July 2017, LOOP has made notable progress, and this week it officially began a thorough testing and checkout process with the VLCC. According to sources from market intelligence firm S&P Global, the vessel is operated by Shell, and reports suggest that the US's very first true VLCC export could set sail within the week. Efforts to reach representatives from Shell and LOOP for additional comments were unsuccessful. Tracking data indicates that the VLCC SHADEN, owned by Bahri of Saudi Arabia, departed from the nearby Freeport anchorage off Galveston, Texas, on February 10 and arrived at the LOOP terminal on February 12, with no AIS updates recorded since 1901 UTC on that same day.

On October 26, 2017, Bahri proudly announced the receipt of its latest Very Large Crude Carrier (VLCC), named Shaden. This significant addition is part of a fleet expansion initiative and is one of five VLCCs financed through Riyad Bank, as indicated in Bahri's announcement on April 3, 2016. The vessel is set to commence commercial operations in December 2017, with the financial impact anticipated to be reflected in Bahri's fourth-quarter results for 2017, as highlighted in their recent press release. With the integration of Shaden into its operations, Bahri continues to strengthen its position in the maritime oil transportation market.