Jun 24 - Denmark finds shipping companies breaking EU fuel rules

Denmark has caught five international shipping companies using marine fuel that violates EU rules on sulfur content, the Ministry of Environment and Food said. The ministry said it had reported the five unnamed shipping firms, which face potential fines, to police.  click here.

Jun 24 - Rhine in south Germany reopened to shipping as water level falls

The river Rhine in south Germany has reopened to freight shipping after an overnight fall in water levels, a spokesman for the German inland navigation agency said on Thursday. The river had been closed to shipping for nine days between Iffezheim and Germersheim after repeated rain raised water levels, preventing vessels from passing under bridges and sailing to and from Switzerland.  click here.

Jun 24 - Three southeast Asian nations to designate shipping corridor in piracy battle

Indonesia, Malaysia and the Philippines on Monday agreed to designate a transit corridor for commercial vessels crossing a maritime zone hit by a spate of hijackings by Islamist militants in the southern Philippines. Nearly 20 Indonesian and Malaysian tugboat crew have been kidnapped by the Abu Sayyaf militants this year, with Jakarta airing fears that the problem could reach levels seen off the coast of Somalia.  click here.

Jun 24 - Lenders turn away BHP port debt plan, wary of coal 

Australian mining giant BHP Billiton pulled a $500 million debt refinancing plan at one of Australia's biggest coal export terminals after banks were reluctant to lend to the sector, said three sources with knowledge of the process. The decision earlier this month sets back efforts to simplify complex debt arrangements at the Newcastle Coal Infrastructure Group (NCIG) project and stalls BHP's plan to release cash tied up in the terminal as it looks to strengthen its balance sheet amid a global commodities slump.  click here

Jun 24 - Brazilian corn vessel scheduled to ship to U.S. East Coast 

A Brazilian corn shipment is due to arrive at a U.S. East Coast port next month, according to shipping data released on Thursday, despite tight supplies and record prices in Brazil that may soon attract U.S. imports to the South American country. The vessel Samsun is scheduled to arrive at the port of Wilmington, North Carolina, on July 20, according to the port's sailing schedule. It is anchored near Brazil's Paranagua port waiting to be loaded with 54,000 tonnes of corn, Reuters shipping data showed.  click here.

Jun 24 - #Brexit & Bunkers: Brent Crude Goes Into Free Fall as UK Votes to Leave the EU
Major bunkering hub Gibraltar voted 96 percent in favour of Remain.

Jun 24 - Muhtaroglu: Now is the Time for Shipping to Focus on 2020 0.50% Global Sulfur Cap
"Shipping has been too busy with its issues, especially supply demand imbalances," Muhtaroglu tells Ship & Bunker.

Jun 24 - Saudi Arabia Declares Oil Glut Over, Analysts Debate Whether It Or U.S. Is Victor in Shale War
But the Saudi energy minister says his kingdom has no intention of slowing production.

Jun 24 - Venezuela Announces Oil Production Boost to Satisfy New OPEC Quota

But neither the troubled republic nor the cartel would disclose details of the increase.

Jun 24 - HMM in Discussions to Join 2M Carrier Alliance
HMM previously indicated it wanted to join THE Alliance.

Jun 23 - RBS receives bids for Greek shipping business - sources 

The Royal Bank of Scotland has received bids for its Greek ship finance business, banking and financial sources familiar with the matter said, following a leap in bad shipping debts at the lender over the past few months.They told Reuters that the operation was worth about $3 billion although sources in the shipping business said that problems with lending to the industry, much of which is in a deep downturn, would affect the value of what could be recouped via a sale. click here .

Jun 23 - Bunker Spill Brawl a Result of "Serious Medical Episode"
The episode "led to him attacking one colleague before causing extensive damage to the engine room systems," The London P&I Club has explained.

Jun 23 - Trident Alliance Protests Swedish Policy of Charging Shipowners For ECA Bunker Compliance Tests
The cost of compliance should not be carried "by the random selection of vessels that authorities decide to inspect," says Anna Larsson.

Jun 23 - Grounded MV Benita's Bunkers to be Removed by Helicopter
"The operation is being conducted with environmental protection as the upmost priority," says Five Oceans Salvage.

Jun 23 - A Bright Future With $100 Oil Lies Ahead for Canada's Offshore Industry: Analyst
All deep water prospects off Newfoundland's coast will be developed, Rystad's vice president says.

Jun 23 - ECSA Says Ship Emissions Rules Must be Global, Warns on Dangers of EU Only System
The focus now should be on aligning the European MRV Regulation with the IMO's own data collection system, says ECSA President Niels Smedegaard.

Jun 23 - OCM Continuing to Expand in UK Bunker and Lubricant Markets

"We have a very healthy share of the 1,000ppm gas oil market," OceanConnect Marine's Chief Operating Officer, Ethan Ram, tells Ship & Bunker.

Jun 22 - Venezuela Production Down and Falling, Ally China Too Busy With Own Problems to Lend a Hand
Average daily production for 2016 could plummet to 1.7 million barrels.

Jun 22 - Nigeria Defies Production and Export Expectations Amidst Conflicting Ceasefire Reports
Nigeria exported up to 500,0000 bpd more than what OPEC thought it had produced in May.

Jun 22 - The End of the Messenger: The Case for Firm Counter/Bunker Pulse
The trading floor maybe quiet but it is now possible to see what it going on without having to learn what someone else is having for dinner.

Jun 22 - Grounded "Bulker Brawl" MV Benita Debunkered, Spill Under Control: Reports
The bunker spill occurred Friday off southeast Mauritius after a fight reportedly broke out onboard, leading to the vessels grounding.

Jun 22 - U.S. Convicts Two Greek Companies and Engineers in Vessel Pollution Case
The U.S. District Court in Seattle found the parties guilty of 12 felony counts related to the dumping of oily waste at sea from bulk carrier Gallia Graeca.

Jun 22 - OilChart UK Expands North West Europe Physical Bunker Supply Locations
"The addition of the Tongue anchorage location ... is a logical step in our growth," Managing Director Owen Webber tells Ship & Bunker.

Jun 21 - Brexit Would Hardly Affect The Oil Market At All: Fesharaki
The FGE chairman says at worst there would be an impact for "only a day or two."

Jun 21 - U.S. Producers Galvanized by $50 Oil as Respected Analyst Says Price Will Climb to $80 Next Year
A significant increase in U.S. activity has been reported in recent weeks.

Jun 21 - Bulker Brawl Ends With Bunker Spill After Vessel Runs Aground off Mauritius

The vessel is said to have been carrying some 145 tonnes of fuel oil and 30 tonnes of diesel at the time of the incident.

Jun 21 - EIB Approves €1 Billion in New Funding to Reduce Harmful Emissions in the European Shipping Industry
The funding is said to be "intended to reduce harmful emissions in the European shipping industry."

Jun 21 - RIP Yahoo! Messenger. Now What? The Case for ClearChat by ClearLynx    
ClearChat not only archives chats among counterparties, but records all offers made by sellers against the individual order.    
Jun 21 - Five Shipping Firms Reported in Denmark After Bunker Samples Show ECA Violations    
The Danish Ministry of Environment and Food says five shipping companies have been found to been in violation of ECA sulfur limits.    

Jun 20 - Canpotex shelves plans for British Columbia shipping terminal 

Canpotex Ltd, the potash export sales arm for Potash Corp of Saskatchewan, Mosaic Co and Agrium Inc, said on Friday it would not build a planned shipping terminal at Prince Rupert in British Columbia.Canpotex said the decision was based on economic and commercial considerations and that its export capacity in Vancouver, Saint John and Portland were sufficient.  click here .

Jun 20 - Despite Meteoric Oil Comeback, Iran "Will Be Maxed Out" by Year End: Analyst
Difficulty in finding partners and lack of resources are the main impediments in the Islamic Republic making further gains.

Jun 20 - Russia Launches Largest Nuclear-Powered Icebreaker

The Baltic Shipyard Thursday launched the largest nuclear-powered icebreaker, Arktika, out of the Port of St. Petersburg.

Jun 20 - Industry Insight: Marine Battery Technology a Promising Solution for Tightening At-Berth Emissions Regs
"People are starting to talk about it now, specifically using batter power to deal with at-berth emissions," Corvus Energy's' Sean Puchalski tells Ship & Bunker.

Jun 20 - Goldman Sachs Says Only Further Outages and Disruptions Will Cause Oil Prices to Escalate
The institution stands by its three month forecast of $49 oil.

Jun 20 - IMO Fuel Availability Study Finds No Major Barriers To Providing Sufficient Compliant Bunkers: Sources
A lack of compliant fuel was cited as being a major reason why the new sulfur cap would need to be delayed.

Jun 20 - Yahoo Tells Ship & Bunker More About the End of "Legacy" Yahoo Messenger
On August 5 the "legacy" messenger you are using today will definitely not work, but your conversation history will not be deleted.

Jun 20 - Tough Domestic Markets Have South Korean Bunker Players Looking at More Overseas Business: Reports
In some cases, local players are said to have simply stopped dealing with domestic buyers.

Jun 17 - What Does Brexit Mean For Global Oil and Bunker Prices?
With the outcome unclear, worried investors are shifting cash into the perceived USD safe haven, strengthening the US dollar and softening oil prices.

Jun 17 - Crude Players Say Oil Volatility Set to Stabilize

They believe oil at roughly the $50 level is "very sustainable."

Jun 17 - OPEC Output Needs to Rise to Avoid Shortfall Caused by Ongoing Member Strife

An extra 650,000 barrels a day over 2017 will have to be pumped to achieve equilibrium between supply and demand.

Jun 17 - Turkey's Largest Liquid Terminal Acquired by Yilport Holding

Yilport Holding Thursday announced that it has acquired 100 percent of the shares of Turkey's largest liquid terminal Solventas Technical Storage.

Jun 17 - California Looks to Biofuels to Tackle Bunker Cost Risks, as Well as Pollution
A study showed that NOX emissions from biodiesel were about 13 percent lower, but PM emissions were 35 percent higher compared to traditional diesel.

Jun 16 - Dry bulk shipping facing slow recovery, consolidation - Dreyfus

The dry bulk shipping industry may not emerge from a protracted downturn for another two years and some smaller firms will be squeezed out, the chairman of France's Louis Dreyfus Armateurs said on Tuesday.The dry bulk sector that transports commodities like coal and iron ore has suffered from oversupply of vessels and faltering global industrial demand, pushing freight rates to a record low this year. click here.

Jun 16 - Piraeus Port shareholders approve COSCO concession deal

Piraeus Port shareholders approved a new concession agreement with Chinese shipping giant COSCO on Friday, bringing Greece a step closer to concluding the sale of a majority stake in the port.Greece agreed in April to sell a 67 percent stake in the port to COSCO for 368.5 million euros. With the concession agreement approved, the deal now needs the green light from parliament and the competition watchdog to go through. click here.

Jun 16 - Morocco plans to sell 40 pct stake in Marsa Maroc

Morocco is planning to sell a 40 percent stake in state-owned port operator Marsa Maroc via an initial public offering (IPO) on the Casablanca stock exchange, bourse regulator AMMC said on Monday. Marsa Maroc was established in 2006 and manages terminals at nine Moroccan ports and provides logistic services. The port operator has said it is seeking funds for expansion as it plans to bid for two other terminals at Casablanca Port and is looking for opportunities elsewhere in North and West Africa. click here.

Jun 16 - France's CMA CGM says now holds nearly 80 pct of Singapore shipper 

The world's third-largest container shipping firm CMA CGM said on Friday that it now holds over 78 percent of the shares in Neptune Orient Lines (NOL), bringing it closer to taking the Singapore company private. Temasek Holdings and its affiliates have sold their shares in NOL to CMA CGM, the French firm said in a statement, the latest step in completing a $2.4-billion deal agreed last year, under which CMA CGM will take total control of the Singapore shipper.  click here.

Jun 16 - Hong Kong eyes shipping boost from China's new silk road, Iran

Hong Kong's crucial shipping trade is hoping China's overseas infrastructure plan and closer business ties with Iran will enable the city to tackle the downturn in the seaborne sector and tougher competition, officials said. The global container sector, which transports everything from bananas to iPhones, as well as the dry bulk shipping market hauling commodities including iron ore and coal, is struggling with a glut of ships, a faltering global economy and weaker consumer demand - pressuring freight companies as well as ports that handle the volumes. click here.

Jun 16 - Maersk heir takes top post in holding company

The grandson of Maersk Mc-Kinney Moller, who transformed A.P. Moller-Maersk into an international conglomerate, was on Monday appointed chief executive of the holding company behind the Danish shipping giant. The move sends a signal that the Maersk family will remain an active owner of the listed company, but it also distances the heir from daily operations, analysts said. click here.

Jun 16 - Singapore Awarded Title for Best Seaport in Asia for 28th Year in a Row
Andrew Tan, MPA's CEO, said the award will not dampen the Port of Singapore's efforts to plan ahead for future demand.

Jun 16 - VDR: LNG Cold Ironing Barge Efforts "a Total Disaster" for LNG Bunkering Legislation
"LNG-fuelled ships simply will not come to Hamburg if we cannot sort out our bunkering problem," said Wolfgang Hintzsche, Managing Director of VDR.

Jun 16 - 80% of Cruise Ships to Use LNG Propulsion by 2025?

"If we are talking about newbuildings, this is possible," says Paolo Moretti, General Manager for RINA Services' Business Line Marine.

Jun 16 - Goldman Says Oil Won't Climb Much Farther Than $50, But This Plays Into Undesirable "Reverse Goldilocks" Scenario

Analysts warn that $50 oil keeps bulls at bay and is too high to force more production offline.

Jun 16 - Get Set For Intense Competition in a Rapidly Changing Global Oil Market: Russia
Unrelated events may be fundamentally shifting the course of global production and demand.

Jun 15 - Sluggish transpacific demand forces carriers to slash capacity - AlphaLiner
- COSCO has suspended the America - Asia Container (AAC) service, a high capacity Asia - US West Coast service operated with 8,500-10,000 teu ships. The loop’s final eastbound vessel sailed from Lianyungang on 8 June. Capacity reductions from the withdrawal will be compensated in part by the upsizing of COSCO’s ‘CEN’ from the 8,500 teu scale to 13,000 teu (see page 4 for details).
- The ‘AAC' suspension is the latest initiative taken to stem overcapacity on the transpacific route, as sluggish demand and low freight rates are forcing carriers to take unprecedented steps to slash capacity, just as the traditional peak shipping season begins.  
- The ‘AAC’ service is operated by COSCON, with CMA CGM, UASC, Hamburg Süd and PIL taking slots under the terms of five separate arrangements. It is the largest service to be withdrawn, and the move will be followed later this month by the suspension of the ‘CC1’ service by G6 and the ‘Manhattan Bridge/AAE 3/AUC 2/ASUS’ by O3/Hamburg Süd (see issue 2016-23 for details).
Carriers appear to have over-estimated the demand growth for transpacific cargo and they are now forced to belatedly scale-back capacity provision. Total capacity removed will reach 16,000 teu per week, resulting in a –1% year-onyear reduction in overall transpacific capacity.

Jun 15 - "Legacy" Yahoo Messenger to Shut Down on August 5
After this date, users of the legacy messenger system will likely no longer be able to log in, send messages, or access conversation histories.

Jun 15 - IEA: Oil Prices Will Stall at $50, But Demand to Increase Followed By Return to Surplus In 2017

The agency views India as a world leader in demand growth.

Jun 15 - Korean Government Mulls Hanjin-HMM Merger

Such a merger will be decided upon once the two struggling shipping companies' management has been normalised.

Jun 15 - DNV GL Project to Investigate Hull Optimisation for LPG Carriers

DNV GL says it will be working with HHI, Wärtsilä, MAN, and CMM on the development of a next generation, energy efficient LPG carrier.

Jun 15 - BSM's: 5,400 TEU Carl Schulte "Outperforms" Most Stringent Environmental Standards
The vessel is said to perform in the top 2 percent of containerships of its size and type.

Jun 15 - Battery-Powered Ferry "A Step into the Future," Says Turkish Shipyard
While the vessels will have hybrid propulsion, with biodiesel or biogas used on one of the ships, Fjord1 it will utilise full electric operation on both ferries.

Jun 14 - Dismal Asian Data, Prudent Saudis, and the "Sultans of Swing" Will Determine Oil Prices: Analysts
However, there's a growing consensus that prices have hit their peak for the time being.

Jun 14 - MAN: Low Bunker Prices Mean Efficiency Gains Need to Deliver "Twice the Value for the Same Price"

As a result, efficiency gains through systems, software, and engine mapping could reach 6.5% per year over the next decade, up from 0.3% per year.

Jun 14 - Lombok, Makassar Straits Could Replace Malacca Strait as Main Sea Trading Lane, Says Indonesian Government

Rizal Ramli, Coordinating Minister for Maritime Affairs and Natural Resources, wants to "lobby big players" to use the route.

Jun 14 - NOL: Singapore Still Competitive Maritime Hub, Outgrew Need for NOL Years Ago

Ng Yat Chung, CEO of Singapore's NOL, says he remains "bullish" on the future of Singapore.

Jun 14 - Singapore Posts Highest Ever Monthly Bunker Sales After Jump in Average Stem Size

An average stem size of 1,203 mt was the highest since the 1,210 mt recorded in April 2014.

Jun 13 - Stena: Cost and Power Considerations Means LNG Retrofits Are Too Expensive
Stena Teknik says LNG retrofits are expensive and the engines are not powerful enough keep to schedule.

Jun 13 - Marine Battery Power a "Surprising" Option for Short Sea Shipping
Harry Robertsson, technical director at Stena Teknik, says the company is looking to begin with battery powered bow thrusters on Stena Line vessels.

Jun 13 - Here Are the Results of the Singapore Bunker Trader Salary Survey 2016

In an industry as dynamic and performance driven as Bunker Trading, the salary market is in a constant state of flux.

Jun 13 - Will China Push Oil to the $30s or Venezuela Send Prices into Orbit?
Another analyst predicts a sharp decrease in prices before the end of the year.

Jun 13 - Oil at $60 Is Small Potatoes: Try $70 or Even Above $100, Say Experts
Ongoing sluggish U.S. production guarantees $70 by year-end, they insist.

Jun 13 - Court Backs World Fuel Services Following $17 Million Bunker Theft

WFS' insurer argued that a policy taken out just weeks before the fraud began did not cover the bunker supplier for the loss.

Jun 13 - LR: HFO Will Still be the Dominant Bunker Fuel in 2030
There will however be "an increase in the diversity of the fuel mix" says Nick Brown of LR Marine.

Jun 10 - Monjasa Addresses Rumours Over its Financing
"I can safely say that Monjasa is in a very good financial position and we expect no difficulties whatsoever in reaching new financing models," CFO Kenneth Henriks tells Ship & Bunker.

Jun 10 - Court Backs World Fuel Services Following $17 Million Bunker Theft

WFS' insurer argued that a policy taken out just weeks before the fraud began did not cover the bunker supplier for the loss.

Jun 10 - South Korea Will "Support HMM by Executing Mega Container Ship Contracts"
The troubled shippers' debt adjustment process is in the final stage and said to be a success.

Jun 10 - Oil Slips, But $60/bbl is "One Supply Disruption in Venezuela Away"

Analysts believe $60-plus crude now has more support.

Jun 10 - Diana Shipping, Bureau Veritas Team Up to Boost Energy Performance of Three Vessels

The shipping firm is said to have used BV's SEECAT energy simulation software to assess the efficiency of three of its capesize bulk carriers.

Jun 10 - K Line Singapore to get ClassNK's Bunker Saving Condition Monitoring System
A 2014 trial of the CMAXS LC-A tech demonstrated a "fuel and lubricating oil savings of 200 tonnes per year."

Jun 10 - Springfield Shipping Selects Eniram to Provide Bunker-Saving Tech

Eniram will be providing energy efficiency technology to the Springfield Shipping's fleet of VLCCs.

Jun 09 - DryShips doubts ability to stay in business 

Dry bulk shipper DryShips Inc raised "substantial doubt" about its ability to stay in business after it defaulted on three bank facilities, hit by a prolonged downturn in commodity prices and low charter rates. The company's shares fell as much as 26 percent to $1.75 in extended trading on Monday. click here .

Jun 09 - Port Hedland iron ore exports to China dip in May 

Iron ore shipments to China from Australia's Port Hedland, used by BHP Billiton and Fortescue Metals Group, slipped to 31.7 million tonnes in May from 32.6 million tonnes in April, port data showed on Tuesday. Total shipments from the Indian Ocean port, however, climbed to 39.4 million tonnes in May against 37.7 million tonnes in April, reflecting a rise in exports to Japan and South Korea, according to the Pilbara Ports Authority. click here.

Jun 09 - Russian hopes for Iran trade boom run aground at Caspian port

When sanctions on Iran were lifted in January, Russia might have expected to be near the front of the queue for business opportunities. Moscow, after all, was one of Tehran's oldest allies and is now its partner on the battlefield in Syria. On the evidence of the commerce passing through the Caspian Sea port of Astrakhan, the main jumping-off point for Russian sea-borne trade with Iran, it's not playing out like that. click here .

Jun 09 - Australia's Asciano shareholders vote for $6.6 bln Brookfield buyout

Shareholders of Australian ports and rail freight giant Asciano Ltd voted fora A$9.1 billion ($6.6 billion) buyout by a global consortium led by Canada's Brookfield Asset Management Inc, leaving the company's future in the hands of regulators. The vote was widely expected to succeed since Brookfield and its co-bidders own about half of Asciano's shares and the target endorsed the offer, but the unanimous result has formally left it to Australia's foreign investment and antitrust watchdogs to decide on the deal. click here .

Jun 09 - S.Korea creates $9.5 bln fund for banks exposed to shipyard troubles

South Korea's government and central bank will create an 11 trillion won ($9.50 billion) fund to support two state-run banks most exposed to the country's struggling shipping and shipbuilding firms. "Our key industries like shipping and shipbuilding are being aggressively caught up by countries like China and management conditions have worsened due to weak global trade," Finance Minister Yoo Il-ho said in a speech announcing the corporate restructuring plans on Wednesday. click here .

Jun 09 - Huge port envisioned by tycoon opens in Brazil - without him

The launch this week of Prumo Logistica's $3.7 billion Port of Açu, the largest in Latin America, marked the revival of a Brazilian logistics hub many thought doomed when the empire of its former billionaire owner collapsed. Açu's more than 25 km (15.5 miles) of docks, piers and breakwaters is a much-needed step towards narrowing a crippling infrastructure gap in Latin America's largest economy. click here .

Jun 09 - Bomin: Middle East and African Bunker Markets are Experiencing Real Change
Andrew Laven was recently appointed Bomin's new Regional Manager for Middle East and Africa.

Jun 09 - World's Biggest Cruise Ship Sparks Protests Over Vessel Emissions in Barcelona
As RCL's Harmony of the Seas starts her inaugural summer season, Barcelona residents are using the opportunity to highlight pollution concerns.

Jun 09 - ReCAAP Releases Latest Report, Asia Piracy and Armed Robbery Incidents at 4 year Low
ReCAAP says eight incidents of piracy and armed robbery against ships in Asia were reported during May, a 65 percent year on year decrease.

Jun 09 - Court Backs World Fuel Services Following $17 Million Bunker Theft
WFS' insurer argued that a policy taken out just weeks before the fraud began did not cover the bunker supplier for the loss.

Jun 09 - Crude Continues to Rise

Prompting todays climb was a larger decrease in crude supplies and better economic data out of China.

Jun 09 - Argentina's energy needs draw fuel tankers from around the globe 

A flotilla of 21 fuel tankers from Europe, the Caribbean, Brazil and the United States is steaming toward Argentina as it ramps up imports of gasoil and liquefied natural gas to record levels this year, according to its new government and Thomson Reuters data. Still a long way from regaining the energy self-sufficiency lost in 2010, the South American country has bought 49 cargoes of LNG so far this year and will buy 90 in all, a spokesman for the Energy Ministry told Reuters this week. click here

Jun 08 - Ardmore Shipping to Buy 6 Eco-Tankers
The vessels were said to have an average age of 2.4 years, but the current owner of the tankers was not specified.

Jun 08 - GAC Bunker Fuels in Exclusive South African Partnership with ENOC
GAC says the new partnership will contribute to increasing the GBFL's vessel delivery by 300,000 litres per year.

Jun 08 - Brent & WTI Both Close Over $50 for First Time Since Last July, but Where are Crude and Bunkers Headed Now?
Superior Energy CEO says it will be difficult for many companies to reactivate as commodity prices strengthen.

Jun 08 - Fincantieri Holds Steel Cutting Ceremony for Carnival Newbuild Featuring Fuel Efficient Hydrodynamics

Seabourn Ovation is the second of two vessels currently being built by Fincantieri for Carnival subsidiary, Seabourn.

Jun 08 - Iran Aims For International Shipping Comeback With $2.4 Billion in New Ship Deals

The Islamic Republic is also said to be in advanced talks for five jack-up rigs each worth $205 million.

Jun 07 -  Malaysian Firm Receives Shareholder Approval to Move into Bunker Markets
The company is hoping for its license to start providing bunkering services at the Pasir Gudang Port area by the end of the year.

Jun 07 -  Oil at $50 Won't Save Struggling GCC Countries: Moody's

Even though prices are not high enough for them economically, the Saudis are preparing for a production increase.

Jun 07 -  9% Non-Compliance in New Shanghai ECA
The inspections, which were carried out in April and May, are reported to have examined 108 ships.

Jun 07 -  1,000 mt Annual Bunker Savings Expected from Marine Wind & Solar Power Propulsion System
A modern vessel designed specifically with its technology in mind could more than double those bunker savings, EMP's Greg Atkinson tells Ship & Bunker.

Jun 07 -  US Court Deals Another Blow to Bunker Suppliers Looking to Recover Unpaid Bunker Bills

The latest case involved Bunker Holdings and the Yang Ming box ship m/v YM Success.

Jun 07 -  Carnival Looking to Overcome LNG Bunker Challenges for its AidaPrima Vessel in Rotterdam

Currently, AidaPrima can use LNG propulsion at all of its ports of call, with the exception of Rotterdam.

Jun 07 -  DFDS Vessel Finlandia Seaways Receives Scrubber Install
DFDS' Ro-Ro vessel Finlandia Seaways has received the installation of an open-loop scrubber from Marine Exhaust Technology.

Jun 07 -  New Discounts Announced for Container Ships Transiting the Suez Canal

Mohab Mameesh, chairman of the SCA, also says the canal's revenues have grown despite slowing global trade.

Jun 07 -  US Oil Spikes Over Fears of Worsening Nigerian Militant Attacks
Meanwhile, Iran rapidly nears pre-sanction output levels.

Jun 07 - Torrential rains cause backlog at Brazil's sugar ports
Heavy rains lashed Brazil's main sugar exporting terminals for a seventh day on Monday, clogging operations as a large volume of sugar waits to be shipped abroad and helping to drive sugar prices to a two-and-a-half-year peak. Rains are also hampering harvesting in the main center-south cane belt, fueling market expectations for the first global sugar deficit in six years. Brazil's weather was a main factor behind sugar futures' intraday rise to a peak of 19.42 cents per pound on Monday. click here

Jun 06 - 1,000 mt Annual Bunker Savings Expected from Marine Wind & Solar Power Propulsion System
A modern vessel designed specifically with its technology in mind could more than double those bunker savings, EMP's Greg Atkinson tells Ship & Bunker.

Jun 06 - Aegean: Global Bunker Demand is Robust, Americas Markets "Especially Strong Performers"
But the oversupply of Iranian oil in the Middle East had meant Fujairah continued to face "headwinds" and strong competition in 1Q 2016.

Jun 06 - Maiden Voyage for Methanol Bunker-Powered Tanker

"We believe methanol as a marine fuel has immense potential in helping the shipping industry meet environmental regulations," says the vessel owner.

Jun 06 - Vessel Upgrades Expected to Reduce Bunker Consumption by 40%
A further $130,000 per year in savings are expected through a reduction in associated maintenance costs.

Jun 06 - Gazpromneft Performs First At-Berth Bunkering Operation at Bronka
The company bunkered Finnstar, a 9,653 DWT ferry, with 750 tonnes of heavy fuel oil and 80 tonnes of diesel fuel.

Jun 06 - India's First Solar Powered Ferry Expected to Launch in August
The solar ferry is expected to make savings of INR 3 million ($45,000) per year in bunker costs.

Jun 03 - More capacity reductions planned as carriers remain in the red and carrier consolidation gets underway (AlphaLiner)
- CMA CGM has launched a voluntary conditional general offer for NOL’s shares at S$1.30 per share on 30 May 2016, which is to become unconditional as soon as the French ocean carrier acquires over 50% of the shares. This is expected to be confirmed by next week as NOL’s main shareholder (Temasek Holdings) has given its undertaking to sell its 66.8% stake to CMA CGM. This will add to the 10.6% stake that CMA CGM had already secured from open market purchases in the past six months, since the first announcement of its intention to acquire NOL and the carrier’s container shipping arm APL on 7 December 2015.
- The move will strengthen CMA CGM’s position as the third largest carrier in the world by adding APL’s fleet of 540,000 teu to the 1,801,000 teu that CMA CGM currently operates. While the deal is expected to be closed by July, it takes place at a difficult time for the container shipping market, as carriers’ earnings remain under severe pressure.
- Last week, Zim reported an operating loss (core EBIT) of -$16 M in the first quarter, for an operating margin of –2.5%. Zim was the last of the main carriers to post financial results for the first three months of 2016, with average operating margins of the 14 main carriers surveyed by Alphaliner reaching –5.5% during the quarter.
- The weak market conditions and the CMA CGM-APL consolidation, as well as the uncertainties posed by HMM and Hanjin Shipping’s financial restructuring moves, are expected to lead to significant capacity reductions in the coming months, as carriers move to stop the severe rate slide of the past few months.

Jun 03 - Scrubber Industry Says it has Ample Capacity to Help Marine Meet a 0.5% Global Sulfur Cap in 2020
"Together with installers, we have systems in place that will help ship owners easily and cost-effectively meet the 2020 requirements," the association says.

Jun 03 - Wärtsilä Expands Bunker Consumption Optimisation Service to Dual Fuel Engines
Updates have also been made to its Wärtsilä Condition based maintenance (CBM) service.

Jun 03 - "An Output Ceiling has No Benefit to Us," Says Iran's Oil Minister, Calling For Massive Production Quota Instead
Iran wants a 14.5 percent share of OPEC's total production output.

Jun 03 - EIA Data Gives Crude Prices Support
Bunker prices were starting to firm by days end in the primary ports.

Jun 03 - EGCSA: Delaying Global Sulfur Cap to 2025 Will Kill Innovation and Investments in Emission Reduction Technology
It will also hinder research into alternative fuels, and will result in higher costs, says EGCSA director Don Gregory.

Jun 02 - South Korean shipbuilding hub battens down the hatches as orders sink
Geoje Island, off the southeastern tip of the Korean peninsula, appears as prosperous as ever: foreign cars cruise the streets, young mothers pushing strollers converge on coffee shops, and workers on motorcycles pour into bustling shipyards. It is what comes next that worries people in Geoje, the world's largest producer of ships by tonnage. click here.

 Jun 02 - Mothballed ships in SE Asia show pain inflicted by oil slump
Not everyone in shipping is bemoaning the industry's worst crisis in living memory: a cluster of companies that help preserve equipment and provide security for vessels parked around southeast Asia are busier than they have been for years. A popular lay-up anchorage near Indonesia's Batam island, a short hop from Singapore, is growing crowded, and firms such as Ocean Shipcare and Brubay Shipcare are running out of space at another at Brunei Bay, near Labuan, off northern Borneo. click here.

 Jun 02 - France to ship maize to Malaysia as export run continues
A vessel is due to load 33,000 tonnes of French maize next week for Malaysia, port data showed on Wednesday, the latest in a series of shipments to unusual destinations as France benefits from dwindling supply in rival exporting countries. A bulk carrier is due to arrive on June 7 at the Atlantic port of La Pallice, data compiled by Reuters showed. click here.

 Jun 02 - Fortescue to operate second towage service at iron ore port
Australia's Fortescue Metals Group Ltd has won a tender to become the second provider of marine towage services at the port of Port Hedland, the world's busiest export terminal for iron ore. Fortescue, which ships 155 million tonnes of iron ore through the port, and is acquiring its own fleet of freighters, said a subsidiary, Pilbara Marine Pty, was granted a towage license by Pilbara Ports Authority, creating a second service provider and additional capacity at the port.  click here.

 Jun 02 - Striking ports workers march to protest Greek ports sales
Greek port workers went on strike for a sixth day on Tuesday and marched through central Athens to protest the state-sanctioned selloff of the country's two largest ports, Piraeus and Thessaloniki.Privatisations have been a pillar of a succession of international bailouts for Greece since 2010, but political resistance and bureaucracy has stymied the task. From an initial target of 50 billion in revenue from asset sales, Greece has barely managed to scrape together 3 billion euros. click here.

 Jun 02 - Egypt Suez Canal revenues at $1.239 bln in Q1 2016 - MENA
Revenue from Egypt's Suez Canal reached $1.239 billion in the first quarter of 2016, up slightly from $1.236 billion in the same period last year, the state news agency MENA quoted the Suez Canal Authority chairman as saying on Wednesday.Mohab Mameesh said the canal's revenues had increased despite slowing global trade. click here.

Jun 02 - Pre-Vienna Rumour Mill Cranks Up With Freeze Talks Trumpeted Yet Again
Zero Hedge laments that any such rumours are being taken seriously.

Jun 02 - "Venezuela will not default" Says Del Pino as OPEC's Fragile Five Sweat Over $50 Oil
RBC Capital Markets believes the time of reckoning for OPEC's beleaguered smaller members is rapidly approaching.

Jun 02 - Crude Ends Day Mostly Flat
Bunker prices were mostly stable in the primary ports.

Jun 02 - Irish Ferries Opts for Scrubbers for ECA Compliance on Newbuild
Irish Ferries says the €144 million vessel will also be designed to deliver "optimal fuel consumption."

Jun 02 - Iran Fuel Oil Shipment to Asia Deferred
A Singapore-based trader says a NIOC fuel oil loading originally set for June and bound for Asia has been deferred for a later date.

Jun 01 - United Arab Emirates and Others Predict $60 Oil This Year
But even that won't be enough for OPEC members to make their market share first policy economically viable.

Jun 01 - Hyundai Merchant Marine Comes One Step Closer to Stabilizing Its Business and Financial Status
Bondholders have agreed to swap more than half the company's debt with HMM stocks.

Jun 01 - Industry Insight: Fuel Management Tips for Smooth Sailing

Whether it is for pre bunkering procurement or post bunkering handling, management should have policies in place and monitor their compliance.

Jun 01 - ING Getting 100% of OW's Bunker Bills Should Not Be Seen as a "Windfall" - ING Lawye
OW secured its $700 million facility based on their invoice totals, not the eventual trader margin, ING lawyer Bruce G. Paulsen tells Ship & Bunker.

Jun 01 - Rosneft and Hellenic Petroleum Ink Co-Operation Agreement
Among the terms agreed is the potential for Rosneft to utilize product from Hellenic Petroleum's refineries for bunkering and trading.

Jun 01 - CTG Scrubber Monitoring System Gains DNV GL Statement of Compliance
CTG says its Sea Sentry Exhaust Gas Scrubber Water Monitoring System has gained DNV GL's Statement of Compliance for MEPC.259(68).

May 31 - OceanConnect Marine Opens Office in Athens
The global bunker trader and broker has also appointed Christos Katarachias as Marine Lubricants Trader.

May 31 - Money Losing OPEC Members Expected To Follow Saudi's Lead on Market Share First Strategy at Vienna Summit This Week
Meanwhile, one western analyst credits Saudi Arabia for having a keen business sense.

May 31 - Iraq Ramps Up Production - But Analyst Downplays Fears of Market Rebalance Delays
Iraq will supply 5 million barrels of extra crude to its partners in June.

May 31 - CMA CGM Moves to Complete NOL Acquisition
CMA CGM Monday announced its "firm intention" to put forth an all-cash voluntary conditional general offer for NOL's remaining outstanding shares.

May 31 - Tanker May Be Linked to 15 Tonne Fuel Oil Spill in Malaysia
A Port Klang-registered oil tanker is said to be suspected of causing Friday's fuel oil spill in Penang's North Channel.

May 30 - Bunker Saving Hull Coatings Firm Cleared of Using Anti-Competitive Practices
Jotun says the Competition Authority has not found reason to proceed with its investigation of the company for possible breaches of competition law.

May 30 - Trump Bashes Obama on Oil, But Kilduff Says the President May Have Done Shale a Favour
The analyst also questions campaign claims of no new U.S. refineries being added in decades.

May 30 - Increasing Need for Buyers to Vet Bunker Suppliers, Says Singapore's TransNav Shipping
Morten Olsen Vind, VP at TransNav Shipping, says vessel owners need to carefully vet bunker suppliers prior to conducting business with them.

May 30 - Forget "Retrograde Institution" OPEC, Say Analyst, Nigeria Can Bring About Oil Market Rebalance
More eyes will focus on the cartel's Vienna meeting to determine just how shaky its future is.

May 30 - Today's Bunker Industry Players Lack Knowledge, Values: Muhtaroglu
"I would like to see the industry to come together to restore our credibility," the Energy Petrol Chief Executive tells Ship & Bunker.

May 27 - Australia Well Positioned to Use LNG Bunkers, but There's Little Motivation to Do So
Comments came from an expert panel at the LNG as Marine Fuel seminar, held as part of the LNG18 conference.

May 27 - Saudi Arabia "Killed OPEC and Buried It", says OPEC Source
The remark joins a growing chorus of critics who question the cartel's fundamental reason for being.

May 27 - 2004-Built Box Ships Get Double Bunker Saving Upgrades
The two Danaos container vessels, CSCL Europe and CSCL America, will recieve fixed pitch Kappel propellers, among other upgrades.

May 27 - Nigeria Oil Supply Picture Worsens as Militants Shut Down Chevron Plant
Crude briefly breaks $50/bbl Thursday but analysts say that despite global declines continuing, prices may not necessarily climb dramatically.

May 27 - Harmony of the Seas: World's Biggest Cruise Ship 20% More Fuel Efficient than Her Sister Ships
Harmony of the Seas is packed with the latest bunker-saving tech.

May 27 - Maersk goes after market share even as volume growth slows (Alphaliner)
- Of the 12 main container carriers that have reported financial results for the first three months of the year, only four posted positive operating margins of between 0.1% and 1.5%, while the remaining eight carriers reported negative margins. Average operating margins of the 12 carriers fell to –5.2% in the first quarter of 2016, compared to +5.1% in the same period last year.
- Carriers’ operating margins crumbled as freight rates slumped to record lows in the first quarter. Average freight rates, based on a sample of the ‘reported revenue per teu’ of eight main carriers, dropped by 23% in the first quarter compared to the corresponding period of 2015. The fall in carriers’ average freight rates was only slightly less severe than the 30% reduction in the CCFI composite index recorded during the quarter. This is due to the relatively more stable backhaul rates. These are not captured by the CCFI, an index which only tracks headhaul export rates out of China.
- The weak rate environment was compounded by anaemic volume growth, with total container volumes growing by only 1.6% in the first three months of the year, based on Alphaliner estimates. While carriers’ liftings performance varied, Maersk posted the highest volume gains with a year-on-year increase of 7.0% to 4.72 Mteu in the first quarter of this year. In spite of this, the carrier’s freight rates declined by 26% to only $929/teu, compared to $1,247/teu a year ago.
- Maersk’s decision to pursue market share contributed to the decline in freight rates of early 2016: In the year’s first quarter, when most competitors were trying to curb capacity growth, Maersk deployed off-schedule extra loaders on both the Asia - Europe and Transpacific routes.

May 27 - Shipping group CMA CGM targets $1 bln savings in tough market
France's CMA CGM, the world's third-largest container shipping firm, reported a first-quarter net loss on Friday and targeted $1 billion in cost cuts to keep operating margins positive during the current market downturn.Weak freight rates in the past year have left many lines operating at a loss.The Marseille-based company is in the process of acquiring Singapore's Neptune Orient Lines (NOL) for $2.4 billion in its biggest-ever deal, and last month announced a global vessel-sharing alliance with three Asian lines. click here.

May 26 - Q88VMS and Ship & Bunker Announce Integration
"We are very excited about the integration with Ship & Bunker and the value it will bring to our customers," says Gabriel Reiter, Q88VMS Product Manager.

May 26 - "The Freeze Is Finished" says OPEC Delegate as Iran Closes in On Pre-Sanction Output
Some analysts says the best outcome of the Vienna meeting will be no outcome at all.

May 26 - CMA CGM Gets China Approval to Proceed With Takeover of Singapore's NOL
"CMA CGM expects to announce the Offer by June 2, 2016 (before 7 a.m.) at the latest," the company said.

May 26 - Qatar: $65 Oil is "Fair" and "Badly Needed"
The country's energy minister says the security of future supplies depends on higher prices.

May 26 - "The Freeze Is Finished" says OPEC Delegate as Iran Closes in On Pre-Sanction Output
Some analysts says the best outcome of the Vienna meeting will be no outcome at all.

May 26 - Deal to Bring LNG-Powered Cold Ironing Barge to Rotterdam "Well Underway"
Focus is to bring LNG-generated power to container ships, bulkers, and tankers.

May 26 - Royston Automates Vessel Mode Detection for Improved Bunker Consumption Monitoring
Royston's Engenei is now able to automatically identify a vessel's operational mode, eliminating human error to more accurately analyse fuel consumption.

May 26 - Singapore Exchange in talks to buy London's Baltic Exchange
The Singapore Exchange (SGX) is in exclusive talks to buy London's Baltic Exchange, which has been at the heart of the global shipping industry for centuries, the two companies said on Wednesday. Founded in 1744, the Baltic Exchange is no longer a forum for chartering vessels but owns benchmark indexes for global shipping rates and provides a trading platform for the multi-billion dollar freight derivatives market.  click here.

 May 26 - Commodities shipping firms struggle to ride out worst downturn on record
Shipping companies transporting coal, and iron ore and other commodities are urgently seeking ways to conserve cash and withstand the worst market downturn on record as too many ships chase shrinking business.A shortage of financing - estimated at $30 billion and caused in part by banks cutting lending to sectors such as shipping - has also hurt companies, sending some to the wall. click here.

May 25 - Brazil sugar shipments rise sharply; to test ports
Brazilian ports are expected soon to move 40 percent more sugar than they did last year, causing some in the market to worry about ports' capacity to deal with volumes when soybean exports are at their peak. The amount of sugar to be loaded in Brazilian ports in the next days is expected to reach 1.62 million tonnes, 42 percent more than at the same time last year, according to shipping agency Williams. click here.

May 25 - Industry Insight: IMO Secretary-General Kitack Lim Talks Vessel Efficiency Technology, LNG Bunkers
New technologies and innovation are very important tools and can significantly enhance ships' energy efficiency, says Lim.

May 25 - Aegean Reports Another Quarter of Record Sales Volumes, Which Rise Almost 45% Y-o-Y
This is the third consecutive quarter that the physical supplier has noted record volumes.

May 25 - NAPA Verified Tests Show 2% Bunker Savings From Lube Additive
Nanol Technologies says its product can bring "significant savings" and also "help to save the environment by reducing emissions."

May 25 - Dan-Bunkering Expands Physical Supply Presence
"We feel we have a lot to offer our clients in this particular region," says the company's General Manager Pedro Gomez.

May 25 - Bunker Tanker Owners Could Benefit from Proposed Ballast Water Rule
Bunker tankers operating within Same Risk Areas would not have to pay to upgrade their vessels with BWM systems.

May 25 - Piraeus Set for More Disruption as Strike Action Continues
The Port of Piraeus Dockworkers' Union has announced that they are planning to launch a number of 48-hour strikes beginning at 6 a.m. on May 26.

May 24 - Bad Times Loom for Physical Suppliers as US OW Bunker Proceedings Reach Major Milestone
"I'm not sure physical suppliers should be that surprised, as the requirements of CIMLA are clear," ING lawyer Bruce G. Paulsen tells Ship & Bunker.

May 24 - Singapore LNG Bunkering "Might Be a Game Changer," Says VDR
Martin Kröger, VDR's managing director, says he expects that LNG bunkering will experience "a lot of movement in the future."

May 24 - Postponing 0.50% Sulfur Cap to 2025 May be Considered Politically Unacceptable: ICS
IMO is supposed to be making the decision based on whether there will be enough compliant fuel to meet demand.

May 24 - VDR: Upcoming Global Sulfur Cap Will Be "Quite the Challenge" and "the End of Heavy Fuel Oil for Shipping"
Martin Kröger, VDR's managing director, points to difficulties with compliance and enforcement in international waters.

May 24 - Fleet Operations Centre Enables Hamburg Süd Up to 7% Bunker Savings
The company also says it has achieved a fuel savings of as much as 40 percent by decreasing the speed of its "Santa" class vessels from 20 to 16 knots.

May 24 - No Chance of Output Freeze Under "Comatose" OPEC Leadership: Analysts
The success of Saudi Arabia's sky-high output strategy negates any chance of a freeze being agreed upon, they say.

May 24 - Popular Bunkering Course to be Run Entirely in Spanish For First Time
After being help in Rotterdam for over 10 years, this July BunkerExperience will be held in Panama, course director Goris Vermeulen tells Ship & Bunker.

May 23 - $50 Oil Not Enough for US Shale Oil Comeback, Needs to Hit $75/bbl: Ward
Tapstone Energy chief says drillers need to outspend cash flow to increase production, but capital markets are essentially closed to them.

May 23 - "Big Disagreements Inside OPEC" Make Any Freeze Agreement Unlikely: Russia
However, the country is ready to participate as a consultant should the prospect arise.

May 23 - Sri Lanka Moves to Include MARPOL Annex VI in National Legislation
"Air pollution caused by emissions of ships has rapidly increased," the government stated.

May 23 - Higher Bunker Prices Contributed to Softer Tanker Rates in Q1: Teekay Tankers
Teekay also predicts "very low global fleet growth after the current order-book delivers over the course of 2016 and 2017."

May 23 - Call For Change After Authorities Fail to Recover Cost of Bunker Spill
Local authorities were reported to have been short NZ$90,000 on clean up costs for the 2015 Tauranga Harbour bunker spill.

May 23 - Finning Urges Uptake of Tech for Bunker Consumption Monitoring
Finning's call comes after the IMO recently approved requirements for ships to record and report bunker consumption.

May 23 - DNV GL in New Partnership for its "ECO Insight" Vessel Efficiency Tool
Deal will give ECO Insight access to a variety of fleet performance analytics from M.A.C. Solutions' SDBnet, including bunker consumption.

May 20 - Industry Insight: Overcoming the Cost and Supply Challenges for Low Sulphur Fuel Oil in 2020
Genoil's GHU technology can take refinery residue and turn it into low sulphur fuel oil to meet the 2020 legislation.

May 20 - Iran Oil Exports Expected to Climb Nearly 60 Percent as Analysts Say the Sanctions May Have Made The Country Stronger
The International Monetary Fund argues that the sanctions forced Iran to diversify economically.

May 20 - Kuwait Reverses Attitude of Earlier This Week, Now Favours Global Oil Market Developments
Kuwait's deputy prime minister for Kuwait, says his country will maintain its high output.

May 20 - UASC to Decide on Operations Merger with Hapag-Lloyd in June
The company is said to be scheduled to hold a shareholders vote at an extraordinary general meeting on June 2, 2016.

May 20 - Gazpromneft Bunkering Operation Marks Ninth Season of Supply Service for Royal Caribbean
On May 8, Gazpromneft East bunkering vessel is said to have provided IFO and MGO bunkers to the 9500 DWT Celebrity Silhouette at the port of St Petersburg.

May 20 - No Denying" Renewable Energy is the Future of Vessel Propulsion: Norsepower CEO
Tuomas Riski, Norsepower's CEO, says the company's smaller rotor sails have been proven to reduce fuel consumption by 6.1 percent.

May 19 - Argentine grains port workers back on job after brief strike
A one-day strike at the Rosario grains export hub in Argentina ended on Friday after the government compelled union and company officials to enter into wage negotiations for 15 days, a union leader said.The strike began at midnight local time and ended around noon after the union agreed to the government mandate for a "reconciliation" period to settle the dispute, said Edgardo Quiroga, an official with the CGT union's San Lorenzo branch. click here.

May 19 - Louis Dreyfus seeking logistics investments in Egyptian ports
Commodity trading group Louis Dreyfus Company said on Wednesday it is looking for investments in port logistics in the Middle East, especially Egypt, as the sector continues to lag behind market growth. "The markets are growing and in most cases the ports remain largely governmental and have probably been a little bit slower to move than the private sector," James Wild, head of Louis Dreyfus Middle East and East Africa told Reuters. click here.

May 19 - Trump Advisor Pushes Bill to Investigate OPEC Over Unfair Trade Practises
If passed, the bill would create a commission that would investigate the cartel as well as State-owned oil companies.

May 19 - Kilduff Revises March Prediction of $25 Oil, Now Estimates Prices Could "Easily Correct" to $35
The analyst reiterates his position that a true market rebalance won't happen any time soon.

May 19 - Tema Port Director Warns of Punishment for All Polluting Vessels Following Bunker Spill
Adorkor says that the punitive measures taken against the company align with international regulations.

May 19 - China COSCO Has No Intention of Routing Ships Through Arctic Despite Government Encouragement
The company says routing its ships through the Arctic would present too much risk to their ships and customers' cargo.

May 19 - Vietnam PM Gives Green Light to Ship Pollution Plan
The plan is aimed at controlling environmental impacts of shipping by boosting environmental inspection at the country's ports, among other activities.

May 19 - Neo: Singapore Bunker Players Shouldn't Believe Those Predicting Market Disruption from MFMs
From the few who do take their business away from Singapore, it is Sri Lanka and the West Coast of India who could benefit, Neo tells Ship & Bunker.

May 18 - BIMCO: Bunker Contract Amendments Not a Foregone Conclusion Following Res Cogitans OW Bunker Test Case Outcome "The "Res Cogitans" is based upon a specific set of circumstances which we need to consider carefully," BIMCO's Grant Hunter tells Ship & Bunker.

May 18 - Low-Sulphur Non-Compliance Jumps from 1% to 5%, and 8.5% in North Sea
An "initial assessment" of port inspection figures for 2015 indicates that the average compliance rate was "about 95%."

May 18 - Finnish Bunker Fuel-Saving Firm Opens UK Office
Eniram says London "is the primary hub for shipping-related services."

May 18 - Cem Saral to Replace Karl Beeson as Group CEO of Cockett Marine Oil
Beeson to step down on September 1, 2016 after eight years in the role.

May 18 - Worsening Canadian Wildfire Causes More Shutdowns and Price Hike
Deteriorating conditions in Canada help push up crude benchmarks, while Ship & Bunker's global average price indices for IFO380 all rose $2.50/mt Tuesday.

May 18 - Forget Saudi Arabia and Iran: Nigerian Militants Biggest Upside Risk for Global Oil Prices, Says RBC Capital Markets
RBC Capital Markets warns that the Niger Delta Avengers are intent on and able to shut production.

May 17 - Brent Hits 6 Month High as Capital Economics Says Price Rally "Has Gone Too Far"
Larger falls in supply and increases in demand are required for true market stability, it argues.

May 17 - Wee Tiong Addresses Singapore, Malaysia, China Physical Bunker Supply Rumours
"For complete clarity, we did not and do not have any intentions to acquire Searights," the company tells Ship & Bunker.

May 17 - Kuwait: Market Can't Take Increased Iranian Oil Production
But the Islamic Republic turns a deaf ear to Kuwait's argument that the market can no longer take the strain.

May 17 - OPEC: Fundamentally, Oversupply Still Persists
The cartel contradicts IEA predictions, says the global glut will increase to 950,000 barrels if its members keep producing full-tilt.

May 17 - Sign of the Times for Cruise Industry as Carnival Hails its In-Port LNG Use at Hamburg
Its AIDAprima vessel was bunkered with LNG at the Steinwerder cruise terminal, while AIDAsol plugged in to an LNG powered cold ironing barge.

May 17 - MSC Fined $50,000 for Ghana Bunker Spill
The fine is the result of a HFO spill at the Tema Port, which was linked to the container ship MSC Alexa.

May 17 - Crude Benchmarks Leap on Supply Fears
The bulls were tempered though as Genscape hinted at an inventory build last week.

May 13 - Ocean Alliance "Unlikely" to Impact Singapore Players
Two hub ports in the Strait of Malacca, Singapore, and Westports in Malaysia, are expected to be maintained.

May 13 - Global Oil Supply and Demand Will Soon Get "Very Close to Balance": IEA

But don't expect prices to reach acceptable levels immediately, the agency warns.

May 13 - Global Cap on Sulfur in Bunkers Should be Phased In, Expert Suggests
Navigistics Consulting's David St Amand says, in addition to completing its fuel availability study, the IMO should stagger the sulfur limit reduction.

May 13 - Nigeria Plus OPEC Strategy Could Equal Oil Shock: Bloomberg

Analyst Julian Lee worries that rising production means the world is less able to cope with a big supply disruption.

May 13 - Promotion as UK Bunker Player Looks to Develop Marine Portfolio
"Continuing to grow our Marine division is essential," the company says.

May 12 - Baltic Exchange says talks still ongoing with potential buyers
Talks between the Baltic Exchange and a number of suitors are continuing, but any potential buyer of the business will have to provide assurances that its central role in shipping will not be "undermined", the Baltic's chairman said on Wednesday.On Feb. 26 the privately held Baltic Exchange confirmed it had received a number of "exploratory approaches" after the Singapore Exchange Ltd (SGX) said it was seeking to buy the business. click here.

 May 12 - UK court ruling in OW Bunker case may mean double payments for shippers
The UK Supreme Court ruled in favour of bankrupt marine fuel supplier OW Bunker Malta in a dispute over payment liabilities, potentially leaving buyers around the world liable to pay for the same fuel twice.“The Supreme Court unanimously dismisses the appeal by the Owners, PST Energy,” the Court said on Wednesday. click here.

 May 12 - ICE to launch containerized white sugar contract on June 20
ICE Futures Europe said on Wednesday it plans to launch a containerized white sugar futures contract on June 20 with the first listed contract to be October 2016.The contract, which could eventually supplant the existing global benchmark, reflects the growing dominance of containerized trade. click here.

 May 12 - Port operator PSA International sets up venture capital arm
Singapore-headquartered port operator PSA International Pte Ltd has set up a corporate venture capital arm, PSA unboXed, with an initial fund size of S$20 million ($14.66 million) to invest in startups.PSA said it would seek to invest in companies developing logistics solutions, including robotics and automation in container and cargo handling operations. click here.

May 12 - Dreyfus may sell stake in new Brazil grains terminal - source
Agricultural commodity trader Louis Dreyfus may sell a stake in a new northern Brazil grains terminal to book profits from its early participation in the project, a company source said on Thursday.The Tegram terminal, at Itaqui port in Maranhão state, is one of the new terminals under development in north-northeastern Brazil that put cargoes closer to some export markets. click here.

May 12 - OPEC Has Practically Stopped Existing as a United Organisation: Sechin
Rosneft CEO says a number of objective factors exclude the possibility for any cartels to dictate their will to the market.

May 12 - Fujitsu Says New "Highly Accurate" Fuel Efficiency Tech Could Save 5% on Bunker Costs" With this technology, it is possible to accurately estimate a ship's performance in actual sea conditions, which previously had a large margin of error," says Fujitsu.

May 12 - One Third of Bunker Vessels in Singapore Now Equipped with an MPA Approved Mass Flow Metering System
Fellowship, Sea Tanker I, and Sentek 27 were the latest vessels to join the list.

May 12 - Crude Benchmarks Rally Another 3%
The market was surprised by a 3.4 million barrel draw induced by the Canadian wildfires.

May 12 - Shell Takes Delivery of Third OSV with LNG Propulsion
The Harvey Liberty is set to support Shell's deep-water operations in the Gulf of Mexico.

May 12 - UK Supreme Court Rules in Favour of ING in "Res Cogitas" OW Bunker Test Case The U.K. Defence Club called the outcome "disappointing."

May 12 - Baltic Exchange says talks still ongoing with potential buyers
Talks between the Baltic Exchange and a number of suitors are continuing, but any potential buyer of the business will have to provide assurances that its central role in shipping will not be "undermined", the Baltic's chairman said on Wednesday. On Feb. 26 the privately held Baltic Exchange confirmed it had received a number of "exploratory approaches" after the Singapore Exchange Ltd (SGX) said it was seeking to buy the business. click here.

May 11 - Bunker Spill in Hamburg After Pilot Boat Hits CMA CGM Box Ship
A pilot boat is said to have torn a gash in the side of the 5,782 TEU CMA CGM Bellini while it was docking at the Waltershofer Hafen.

May 11 - AidaPrima to Become First Cruise Ship to Burn Only LNG Bunkers in Port After Successful Test Run
Carnival says it is a "first for the cruise industry" and means the ship will be able to operate with "the world's cleanest burning fossil fuel" while in port.

May 11 - India Suggests SCI Move to More Fuel Efficient Ships
A government committee suggests upgrading SCI's fleet, which consists of 69 vessels, could help the company make a financial turnaround.

May 11 - Indonesian Navy Thwarts Oil Theft on Hijacked Tanker
The tanker is said to have been carrying approximately 50,000 gallons of oil when it was hijacked by pirates off Borneo.

May 11 - Crude Claws Back Yesterday's Price Shedding
The disruption in Canada coupled with a series of attacks on Nigeria's oil infrastructure suddenly had the market on edge.

May 10 - No Freeze and Saudi Arabia Losing The Price War Are the Immediate Fallouts of Naimi Dismissal: Iran
The Islamic Republic says discussing a freeze with OPEC in Vienna is now "unlikely" and the Saudis have "destroyed" $100 oil.

May 10 - Singapore Bunker Supplier Dismisses Bankruptcy Rumours
The well known supplier tells Ship & Bunker it has no further comment to make on the matter at this time.

May 10 - Markets Enter a "New Era" as Saudi Arabia Ends Reign of the Most Powerful Man in Oil

May 10 - Bunker Broker Liberty Marine Moves to Denmark
The company was founded last year by Jesper Jervild.

May 10 - Concerns Over Distillate Shortage to Meet Global 0.50% Sulfur Cap Could be Misguided: Tolson There is evidence to suggest to the contrary, says the 20|20 Marine Energy Senior Partner.

May 10 - Saudi Arabia Wants "Significant Growth" in Oil Output This Year
Amin H. Nasser says Saudi Aramco will boost capacity at its Shaybah oil field by 33 percent within "the next couple of weeks."

May 10 - Wärtsilä Joins LNG-Powered Bulk Carrier Project
Led by Athens-based Arista Shipping, Project Forward also involves Deltamarin, American Bureau of Shipping, and GTT.

May 09 - 380 cSt Supply to be Suspended at Taichung Port

CPC says annual maintenance of the barge Chun Yu No. 1 is the reason behind the suspension.

May 09 - Bulk Carrier Crew "Trapped" in Fallout from Bunker Dispute
Termoil had DST Oslo arrested last week, claiming that about $460,000 is owed for a one year-old unpaid fuel bill and associated costs, including interest.

May 09 - Iran to Hold Steady at Current Oil Output Levels, May Even Participate in Revived Production Freeze Iran's deputy oil minister predicts there will be "more coordination" at the next OPEC meeting.

May 09 - LNG and Methanol "Most Promising" Alternative to Conventional Bunkers: EC
EC says LNG and methanol could be used as transition bunkers before completing a shift to biofuels.

May 09 - Nanostructure Filters Could Offer Low Cost, More Environmentally Friendly Solution for ECA Compliance: EPFL Mario Michan, a researcher at EPFL's Swiss Plasma Center says the technology not only reduces sulfur emissions, but NOx emissions as well.

May 09 - Markets Enter a "New Era" as Saudi Arabia Ends Reign of the Most Powerful Man in Oil Ali bin Ibrahim Al-Naimi Saturday was replaced by Saudi Aramco chairman Khalid al-Falih.

May 09 - "OPEC is Dead" Says Official After Riyadh's Major Shift in Thinking Widens Cartel's Cracks Riyadh is now mindful that the global market is experiencing a structural shift rather than a temporary trend.

May 05 - Pressure builds on shipping industry to set carbon targets  

Disagreement among nations means no carbon emissions targets have been set for international shipping, but voices from within the industry are calling for global curbs to be set soon, before countries or regional blocs take matters into their own hands. The shipping sector, like aviation, was excluded from any target cuts under last year's Paris climate deal, which set a goal of restricting the rise in global average temperature to less than 2 degrees Celsius. click here.

 May 05 - Maersk set fair for consolidation after surprise shipping profit
A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter, putting the cash rich company in a strong position as the struggling industry consolidates. The group's shares were up by 5.6 percent at 1127 GMT on Wednesday after Maersk Line confounded expectations of a loss at the container shipping business as the sector grapples with a downturn brought on by overcapacity. click here.

 May 05 - EU clears CMA CGM, NOL container shipping merger
The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance. The announcement confirms a Reuters report on April 21 about the impending approval. CMA CGM, the world's third-biggest container shipping company, is looking to strengthen its position against bigger rivals Maersk Line and Swiss-based Mediterranean Shipping Co (MSC). click here.

 May 05 - Panama Canal expansion exposes US infrastructure, shipper woes
The $5.2 billion expansion of the Panama Canal was expected to make U.S. East Coast ports more competitive for cargo ships carrying televisions, tennis shoes and other products from Asia. But those hopes are fading. As the wider, deeper canal nears its debut next month, ports that stand to gain aren’t ready to handle the bigger ships that will come through. click here.

 May 05 - Al Qaeda in Yemen poses growing threat to shipping - naval force
Al Qaeda's Yemen branch remains a powerful force and poses a growing risk to merchant ships in vital waterways nearby despite efforts by Yemeni government forces and their allies to push back the group, a top officer in an international naval force said. Al Qaeda in the Arabian Peninsula (AQAP) confirmed on Saturday it had withdrawn from the southern Yemeni port of? Mukalla - a week after Yemeni government and Emirati soldiers seized the city that was used by the Islamist militants to amass a fortune. click here.

May 05 - Alliance Orphans Could Combine to Represent a Serious Counterweight to 2M, Ocean Alliance: Alphaliner
Existing box shipping alliances are currently in flux.

May 05 - New ECO Tanker "Symbolises the Emerging Direction of the U.S. Shipping Industry"
General Dynamics NASSCO says the 50,000 DWT newbuild LNG-ready product tanker, Independence, was delivered to SEA-Vista on Thursday.

May 05 - Baltic Dry Index Sheds 56 Points in 4 Days, Falls to 652
Peter Sand, Chief Shipping Analyst at BIMCO, says the industry needs to work to "keep scrapping volumes up" for a meaningful market recovery.

May 05 - Global Bunker Price Hits 2016 High, but Don't Worry, Analysts Say Oil Price Rally Isn't as Spectacular as it Seems
The "lower-for-longer" market approach to pricing is still very much the same as it was in the beginning of 2016.

May 05 - Saudi/Iran Spat Means No Freeze Talks at OPEC June Meeting - But None Required Anyway, say Delegates
The delegates believe market improvements have rendered freeze talks unimportant.

May 04 - New Singapore Barge for LUKOIL Marine Lubricants
The barge is the third and largest in the company's Singapore fleet.

May 04 - Low Bunker Price Helps Maersk Save $1 Billion in Q1 2016
Average price paid for bunkers halved year-over-year.

May 04 - $1.7 Million Singapore Bunker Dispute Falls into Legal Grey Area
Judicial Commissioner says circumstances of the defendants appeal "does not seem to have been decided by our courts."

May 04 - MSC Settles $3.7M OW Bunker Dispute With ING, Physical Supplier
Move comes on the heels of two recent US court decisions suggesting the country's physical suppliers could be left unpaid in such situations.

May 04 - Nominations Open for Wind Propulsion Innovation Awards 2016
The awards are intended to recognise technological innovation and development of wind propulsion as a viable solution for the shipping industry.

May 04 - Bunker-Only Calls a "Real Headache" for Operators: WSS
WSS wants bunker buyers to ditch the "mom and pop" players in favour of its "one stop shop" approach to bunkering.

May 04 - Operations at Port Said's SCCT Terminal Halted After Fire
Operations are reported to have been halted Tuesday as a result of an electricity safety issue after a container ship hit a gantry crane, causing a fire.

May 04 - West Africa pirates switch to kidnapping crew as oil fetches less
Pirate gangs in West Africa are switching to kidnapping sailors and demanding ransom rather than stealing oil cargoes as low oil prices have made crude harder to sell and less profitable, shipping officials said on Tuesday. Attacks in the Gulf of Guinea - a significant source of oil, cocoa and metals for world markets - have become less frequent partly due to improved patrolling but also to lower oil prices, according to an annual report from the U.S. foundation Oceans Beyond Piracy (OBP), which is backed by the shipping industry. click here.

May 03 - Saudis Either Fearful of Oil's Future or Don't Have As Much Of It As Everyone Thinks: Analyst The Saudi Aramco shares sale may be more of a shrewd divestment strategy than a means to diversify economically, says Caprock Group

May 03 - Bunkers Could be on the Way Down as Brent Dips 3% and More Downside Anticipated "Our high side parameters for both WTI and Brent have been achieved," says Ritterbusch & Associates. 

May 03 - MPA: New Singapore Tuas Terminal to Help Bunker Players Increase Efficiency Tuas Terminal will feature a "just-in-time" arrivals system.

May 03 - OPEC Exacerbates Global Oil Glut with Near Record High Output
Iran posted the biggest production increases in April at 3.40 million barrels per day.
Latest News More News

May 03 - Mediterranean Ports Get No Competitive Advantage From Lack of ECA: Report The port authority also says transport to much of Europe via Northern European ports is "more sustainable" and cheaper than that of travel via Southern Europe.

May 03 - Aalpha Energy Opens Fuel Oil Brokering Desk in Houston
The desk will be staffed by three former BP traders.

May 03 - "More Needs to be Done" on Hull Performance Management: Jotun
The comments came at the inaugural HullPIC conference, which was held to address industry needs for ways to measure hull and propeller performance.

May 02 - Takoradi Bunker Terminal Construction Begins on Hopes of Creating New West African Bunkering Hub Currently, the lack of bunkering services at the Takoradi Port means visiting vessels must travel to Nigeria or Cote d'Ivoire for refueling.

May 02 - ICS "Strongly Criticises" Spanish Supreme Court Decision in Prestige Oil Spill Case ICS says that, in light of the court's decision, it "fears that that the entire system of efficient compensation for oil spills could be put in serious jeopardy."

May 02 - Langh Tech Scrubbers Set for Installation on Norwegian Cruise Ships
The delivery is said to include scrubber units for each of the vessels' five engines, as well as treatment plants for the scrubber water.

May 02 - Oil Rally Looks Like Last Year's False Recovery: Commerzbank
BNP Paribas are among those who reiterating warnings for $30 oil.

May 02 - OPEC Exacerbates Global Oil Glut with Near Record High Output
Iran posted the biggest production increases in April at 3.40 million barrels per day.

May 02 - Singapore: Top 20 Singapore Bunker Supplier has Licence Revoked as MPA Takes Action Against Two Players MPA says there were "discrepancies and wrongful declarations."

Apr 29 - Analysts Worry that Oil Rally Will "Run Out of Steam Soon"
They cite on-going global stockpile increases as the cause of their concern.

Apr 29 -  Ceramic Membrane Scrubber First at Cosco Shipyard
The scrubber technology has been installed on MG Management's RO-RO carrier, NOLHANAVA.

Apr 29 - UECC "First of Its Kind" LNG Propelled Car Carrier Launched
A formal launching ceremony for the dual-fuel LNG-propulsion capable car carrier, TBN Auto Eco, was held on April 14.

Apr 29 - Mercuria U.S. Fuel Oil Head to Join Hartree: Reports
Anonymous sources said Joe Garcia has resigned his position as head of Mercuria Energy Group's U.S. operations.

Apr 29 - As Oil Hits 2016 high, Danish analyst Predicts Shipping Will Lead a Recovery in Offshore Markets However, detractors insist that the price rally is being driven by a weak dollar.

Apr 28 - Strong surf blocks entrance to Brazil's largest port
An agitated sea has blocked the entrance to Brazil's largest port of Santos, preventing ships from entering or leaving for more than 12 hours during peak soy export season. Nine ships were stopped from leaving the channel and 10 from entering since Wednesday evening, port authority Codesp said on Thursday. click here.

Apr 28 - Two Tankers Arrested in Singapore
An Aframax and a Suezmax have been arrested over the last week.

Apr 28 - Insiders say $50 Oil May Cause a Floodgate of Activity
More rigs and better cash flow will be the outcome of higher prices.

Apr 28 - Vessel Arrested Over Unpaid Replacement Bunkers
The case has been brought by Monjasa over a deal originating from last year.

Apr 28 - MPs Back Call for Cold Ironing at New London Cruise Terminal
"Levels of air pollution are far too high in our capital," says MP.

Apr 28 - GAC Launches EnvironHull Fuel Cost Savings Calculator
"A foul-free hull offers the benefits of significantly enhanced fuel efficiency," says GAC.

Apr 28 - Colombo Tightness to Ease Friday
A tanker is set to arrive Friday, local sources tell Ship & Bunker.

Apr 27 - S.Korea's Hanjin Shipping to seek bank-debt restructuring
South Korea's Hanjin Shipping Co Ltd will ask creditor banks to restructure its debt, the country's largest shipper by assets said, in an attempt to weather a squeeze in margins from a severe industry downturn. Hanjin, whose chairman Cho Yang-ho also controls flag carrier Korean Air Lines Co Ltd, had debt of 5.6 trillion won ($4.9 billion) and a debt-to-equity ratio of nearly 850 percent as at the end of 2015, according to the company. click here.

Apr 27 - U.S. Court of Appeals Upholds WFS' Maritime Lien in Dispute Over Unpaid Singapore Bunker Bill The decision clears the way for further legal proceedings involving World Fuel Services Singapore.

Apr 27 - OPEC, Saudis, Struggling for Relevancy in Rapidly-Changing Market?
Non-OPEC member invitations to OPEC talks coupled with other developments suggest a possible waning of the once-mighty Gulf oil producers.

Apr 27 - Five "Top-Tips" from ExxonMobil for Effective ECA Fuel Switching
"Typically, inadequate management of the fuel switchover process can increase the risk of thermal shock to engine components," ExxonMobil explains.

Apr 27 - Construction Launched on TUI Cruises' New Fuel Efficient Ship
The keel has been laid for TUI Cruises' latest high-technology and fuel efficient cruise ship, Mein Schiff 6, which is under construction by Finland's Meyer Turku.

Apr 27 - Baltic Dry Index Breaks 700 for the First Time Since November 2015
The Baltic Dry Index gained 14 points Tuesday to reach 704, the highest the index has been since November 2, 2015.

Apr 26 - LNG Bunkering in Poland Moves One Step Closer

Preparations for the commercial commissioning of Świnoujście LNG Terminal are close to completion.

Apr 26 - Shell: GTL Bunkers Will Become an Increasingly Important Part of the Fuel Mix
The comments came alongside news that the European Committee for Standardisation has ratified the EN15940 standard for paraffinic diesel fuels,

Apr 26 - Environmental Group Call for Regulatory Action Amid Increased Bunkering at Gibraltar Verdemar-Ecologistas en Acción intends to urge the EU and Spanish authorities to take action to prevent pollution amid growing bunkering activities.

Apr 26 - Emirates Maritime Arbitration Centre Receives Official Decree
Move will "help Dubai rank among the most prominent maritime capitals of the world."

Apr 26 - ABS Releases New Condition Monitoring Guidance New guidance comes in response to "significant advances in condition monitoring software and diagnostic technologies."

Apr 25 - Ship & Bunker Launches New Average Bunker Price Indices

Six new bunker price averages quickly show the overall trends in both global and regional bunker price movements.

Apr 25- Buyer Fights Back Against OW Bunker $1.8M Unpaid Bunker Bill Claim on Grounds Physical Supplier Was Left Unpaid Lawyers say the bunker buyer had specified that paying the physical suppliers was necessary for OW to get paid.

Apr 25- Here is a New Interactive Map Showing Global Vessel Movements & Emissions Over the Course of 1 Year UCL EI researchers used AIS data, and combined that with another database on vessel characteristics to calculate emissions.

Apr 25- No Cut, No Freeze Needed for $85 Oil By the End of 2016: Cornerstone
The analyst bases his prediction on the argument that demand has been understated.

Apr 25- IMO Approves Mandatory Requirements for Ships to Record and Report Bunker Consumption But exactly what will be collected, and indeed when, is yet to be decided.

Apr 25- MEPC 69: ICS Commends IMO's Progress on CO2 Reporting
"We are confident that the IMO system will be fully adopted at the next MEPC meeting in October," said Peter Hinchliffe, Secretary General for ICS.

Apr 25- Big Data Only Half of the Answer in Improving Ship Performance: Propulsion DynamicsHull Performance Firm in Deal to Focus on German Market

Apr 25- VPS, Seagull Maritime to Provide New Training to Address "Pressing Need" for Seafarers to Understand Fuel Quality Issues "Fuel-related knowledge and capabilities are increasingly becoming the keys to mitigating engine breakdowns and unplanned operational downtime," says VPS.

Apr 22 - Indonesia fears piracy surge on shipping route could make it "new Somalia"

Indonesia fears piracy on a shipping route along its sea border with the Philippines could reach Somalian levels and has told vessels to avoid danger areas, officials said on Thursday, after a spate of kidnappings. Analysts say the route carries $40 billion worth of cargo each year. It is taken by fully laden supertankers from the Indian Ocean that cannot use the crowded Malacca Strait. click here.

Apr 22 - Industry Insight: The New Breed of Bunker Players Will be Agile
The bunker industry has changed. It's a tough place to compete in, let alone grow profitably.

Apr 22 - MPA: MGO Mass Flow Metering in Singapore "as Early as 2017"
Mass flow metering for MFO bunkering becomes mandatory in Singapore from January 1,2017.

Apr 22 - Russia Prepared to Push Oil Output to Historic Highs Alexander Novak says the country is "in theory" able to increase production to 12 or 13 million bpd.

Apr 22 - Two U.S. Court Cases Could Shake Up Bunker Supplier Financing, Credit Decisions "If you are a bank you will be questioning and controlling the credit decisions suppliers make much more than in the past," Tolson tells Ship & Bunker.

Apr 22 - Round Two of Freeze Talks Set for May.....or Possibly June, Location Undetermined Iraq claims it wants a freeze for "a short period" to improve prices.

Apr 22 - Iran: Don't Blame Us for Market Destabilization
The Islamic Republic's oil minister says his country will "make efforts" to bring back normality.

Apr 22 - Bunker Saving First for Tier III Compliant Ferry
GE says urea based systems can add 5 to 8 percent to fuel expenses.

Apr 21 - Indonesia fears piracy surge on busy shipping route could lead to 'new Somalia'
Indonesia fears piracy on a busy shipping route along its maritime border with the Philippines could hit levels seen in Somalia unless security is tightened, its chief security minister said on Thursday, following a spate of kidnappings. The route lies on major shipping arteries that analysts say carry $40 billion worth of cargo each year. click here.

 Apr 21 - Cheap oil slows appetite for LNG as alternative shipping fuel
Low oil prices are denting the take-up of liquefied natural gas as a cleaner source of energy to power ships, and it will be a few more years yet before the fuel makes serious inroads into the marine bunker market. The global shipping sector is under pressure from governments to reduce harmful emissions from vessels, including sulphur oxides (SOx), nitrogen oxides (NOx) and carbon dioxide (C02), by using cleaner fuels such as liquefied natural gas (LNG) rather than traditional heavy fuel oil and diesel sources. click here.

 Apr 21 - China wants ships to use faster Arctic route opened by global warming
China will encourage ships flying its flag to take the Northwest Passage via the Arctic Ocean, a route opened up by global warming, to cut travel times between the Atlantic and Pacific oceans, a state-run newspaper said on Wednesday. China is increasingly active in the polar region, becoming one of the biggest mining investors in Greenland and agreeing to a free trade deal with Iceland. click here.

 Apr 21 - Two Indonesian coal ports halt shipping to Philippines on hijack fears
Authorities from at least two Indonesian coal ports have stopped allowing vessels to leave for the Philippines due to security concerns following a spate of ship hijackings in the southern Philippines, a government official said on Wednesday. Departure permits for the Philippines were no longer available for shipping vessels at the Port of Banjarmasin in South Kalimantan and Tarakan in North Kalimantan, said Indonesia's acting director general of sea transportation Umar Aris. click here.

 Apr 21 - Brazil scraps corn import tax as cargos reach ports
Brazil's government decided on Tuesday to eliminate an import tax on corn shipments from countries outside the Mercosur trade bloc to facilitate imports amid tight local supplies. According to Brazil's trading chamber Camex, corn shipments would be exempt from the tax that varies from 8 to 10 percent for a period of six months, up to a maximum amount of 1 million tonnes. click here.


Apr 21 - Australia funds lead bids for $4.1 bln Port of Melbourne sale -sources
Three consortia of Australian and international funds have submitted bids for a 50-year lease of the Port of Melbourne, Australia's biggest shipping container terminal, people familiar with the matter said on Monday. The state government of Victoria aims to raise at least A$5.3 billion ($4.1 billion) before the end of 2016, as part of a broader Australian government privatisation programme to help cut debt and upgrade the country's infrastructure. click here.

Apr-21- 3 Vessels Suffer "Severe Fuel Problems" After Bunkering in Fujairah: ReportIt was, however, indicated that the bunkers in question were within ISO8217 specification.

Apr-21- Bunker Traders Welcome China ECA Regs Clarification
Traders say the clarifications make the new ECA regulations easier to follow.

Apr-21- Most Now Think the Global Sulfur Cap in 2020 is More Likely Than Ever - But There Are Bigger Questions to be Asked: Meech "I think the question marine has to ask itself is, how will it manage its price risks in this new market environment?" Robin Meech tells Ship & Bunker.

Apr-21- Crude Futures Continue to Rise
A smaller than anticipated build in US crude inventories sent the energy complex higher during the days trading.

Apr-21- Dockworkers Launch 48 Hour Strike at Patrick's Brisbane Terminal
Workers at East Swanson Dock Terminal expected launch another 42 hour strike on April 21.

Apr-20- More Bad News for Physical Suppliers Pursuing Claims for Unpaid Bunkers Another case in the U.S. has ruled the physical supplier did not have grounds to hold a maritime lien.

Apr-20- Out of the Blue" Output Reductions Cause Oil Prices to Soar
Just a day after a 5 percent reduction due to the failed Doha talks, the market responds to a Kuwait strike with a 3 percent gain.

Apr-20- Cockett Strengthens Hong Kong Trading Team
"The appointment will enable the Group to develop its presence in Hong Kong," says Group Chief Operating Officer Cem Saral.

Apr-20- Law Firm Warns on "Unexpected" VAT Costs for Intermediaries in Bunker Transactions Nctm Studio Legale examined a recent European Union Court ruling over VAT exemptions.

Apr-20- Oil on the Rise as Speculators Focus on Kuwait
Oil markets will be looking at the API and EIA reports, late Tuesday and early Wednesday respectively, to decide for a direction.

Apr -19- Shell to Supply LNG Bunkers to Carnival
Shell says it has signed an agreement with Carnival to supply LNG bunkers to the cruise line's AIDAprima vessel.

Apr -19- Bunker Spill After Car Carrier Grounding off Busan The vessel is said to have had its fuel tanks ruptured during the grounding caused by a storm, spilling an unknown amount of fuel into the water.

Apr -19- Fujairah Bunkers: Return of Iranian Fuel Oil Behind Big Drop in Cat Fines
Data suggests the port's fuel quality over the February to March period improved overall.

Apr -19- SMW 2016: Difficult Market and Low Oil Prices Means Less Interest in LNG Bunkers Siem Industries chairman Kristian Siem says some of its customers had switched back from LNG to conventional bunkers "because it's cheaper."

Apr -19- Singapore Voices Support for IMO as Secretary-General Sets Sights on Environment for MEPC 69.In opening comments at MEPC 69, IMO Secretary-General Kitack Lim stressed the importance of IMO leadership on shipping emissions reductions.

Apr-19 - No Doha Deal Means No Sabotage of Current Oil Price Recovery: GoldmanSachs :Goldman Sachs analyst said a successful deal would have caused a "self-defeating rally."

Apr-18 - Sharp Fall for Crude in Early Trading on Failed Doha Talks, Could be $30 "Within Days"Bunkers could be heading back under $140 in some of the primary ports.

Apr-18 -29th OW Bunker Related Arrest in Australia
Federal court marshals in Australia Thursday arrested the Malta-flagged bulk carrier Pounda.

Apr-18 - BIMCO Say Bunker Data Collection Should Be Priority Item at MEPC 69
BIMCO announced its priority items Friday, in advance of IMO's MEPC 69 on April 18 to 22.

Apr-18 - EU Representatives Join Green Groups in Urging IMO to Take Emissions Action at MEPC 69.The heads of seven political groups of the EU Parliament's environment committee submitted a letter to the ministers of transport and environment.

Apr-18 - IMO Kicks Off Global Project to Tackle Increasing Shipping Emissions
IMO has issued a call for hosts located in the project's target regions that may be interested in establishing Maritime Technology Cooperation Centres.

Apr - 18-Doha: Drama, Delays, but Day Ends With No Deal at Oil Freeze Meeting
"We need more time to consult among ourselves in OPEC and non-OPEC producers," says Qatar Oil Minister Mohammed Saleh Abdulla Al Sada.

Apr-18-Tanker Arrested in Singapore
The 2012-built Bochem Chennai was arrested at 00.25 am local time on April 12, 2016.

Apr 15 - Maersk Ups Interest in LNG Bunkers

Maersk Maritime Technology says it has joined SGMF to support LNG bunkers as it "may become a user" of the alternative fuel in the future.

Apr 15 - Parker Kittiwake Adds its Voice to ISO 8217:2016 Concerns
The company says proposed changes will "significantly" increase operators' risks of catastrophic engine failure.

Apr 15 - GAC Russia Partners with Far East Development Fund for NSR Development
"Our aim is to bring about fast and positive change by July 1, 2016," says GAC.

Apr 15 - France Backs Bunker Desulfurisation Project
The Future Programme's Worldwide Innovation Challenge has awarded a €200,000 subsidy for a MDO desulfurisation project.

Apr 15 - China's Adoption of LNG Bunkers Slowed by Policy Gaps, Industry Expert Says
Dr. Gan Shao Wei, LNG expert at China Classification Society, says rules that could incentivise China's adoption of LNG as bunkers remain incomplete.

Apr 14 - Expanded Chinese-operated Pakistani port on $46bn economic corridor "almost ready"
The newly expanded Gwadar deep-water port in Pakistan that is key to a planned $46 billion Chinese economic corridor is nearly complete and expects to process about a million tons of cargo next year, the operator said on Tuesday. Most of the cargo will be incoming construction materials to be used in projects related to the China Pakistan Economic Corridor (CPEC), which envisions linking far-western Chinese production regions by road through Pakistan for shipment through Gwadar port to overseas markets. click here.

Apr 14 - Workers protest as Greece sells Piraeus Port to China COSCO
Greece sealed the sale of Piraeus Port Authority to China COSCO Shipping Corporation on Friday, while striking dockworkers protested against what will be the country's second major privatisation since late last year. The sale of Greece's biggest port had been halted by the leftist government of Alexis Tsipras when it won elections in January last year but it was resumed under Greece's 86 billion-euro bailout deal agreed with its euro zone partners in August. click here.

Apr 14 - IEA: Oil Markets Close to Balance in H2 2016
"There is no doubt as to the direction of travel for the supply-demand balance," it says !!!

Apr 14 - Bunker Saving Atlantic Star Wins ShipPax Award for "Revolutionary" Design
KNUD E. HANSEN says it was given the award for the efficient Con-Ro vessel at the Ferry Shipping Conference 2016

Apr 14 - Iran to Open "Biggest of its Kind" Bunkering Operation: Reports
The Qeshm Island facility is reported to be opening within the next two months.

Apr 14 - OPEC Again Downsizes 2016 Forecast, Warns of Deeper Cuts
The cartel cites issues in China and Latin America as well as warmer weather for the downsizing.

Apr 14 - HMM Says Stabilization Within Reach, But its Financials Cause Other Carriers to Be Harshly Assessed
Credit ratings are being downgraded and some carriers are taking significant impairment losses.

Apr 14 - Singapore Posts Highest Ever Q1 Bunker Sales as Record Numbers Flock to Buy Fuel
March was also the 3rd highest ever monthly sales volume for all products, which included the highest monthly volume of LSMGO sales.

Apr 14 - More Doha Rumours Cause Oil to Skyrocket, But Be Prepared for Bearish Outcome
Crude is propelled to four month highs on the rumour that the Russians and Saudis are in consensus about an output freeze.

Apr 13 - Iraq: Everybody Needs the Oil Freeze
SOMO director general pushes for the freeze in the wake of Iraq posting near-record output.

Apr 13 - Propulsion & Emissions Conference to Explore Implications of ECAs and Global Sulfur Cap
The 38th Propulsion & Emissions Conference, which is set to take place at the Grand Elysee Hotel in Hamburg on May 11 to 12.

Apr 13 - Bunkering at Port of Aden Resumes After 1 Year Suspension
The Yemen Gulf of Aden Ports Corporation says bunkering operations have resumed at the port after a year of suspended activities due to political turmoil.

Apr 13 - Vitol Buys $28 Million Stake in Pakistani Fuel Marketer with Bunker Interests
The agreement also includes an option for Vitol to purchase a further 10 percent stake in Hascol within the next year.

Apr 13 - Port of Salalah and Omanoil Agreement to Enhance Bunkering Services
The Port of Salalah signed a lease agreement with Omanoil to develop a small to medium fuel terminal at the port.

Apr 13 - More Doha Rumours Cause Oil to Skyrocket, But Be Prepared for Bearish Outcome
Crude is propelled to four month highs on the rumour that the Russians and Saudis are in consensus about an output freeze.

Apr 13 - Crude Will Hit $85 by End of 2016: Cornerstone Analytics
Such a prediction would, based on current trends, translate to IFO380 bunkers in the $300 to $400 pmt range in the primary ports.

Apr 13 - Lithuanian LNG Bunkering Project at Risk of Collapse
Lithuania's Prime Minister says talks between LitGas and Statoil for small-scale LNG trade must be completed within two weeks.

Apr 13 - Dan Bunkering, BIMCO, Hafnia Team Up to Talk Legal Risks in Bunkering
BIMCO says the first of the series of hour-long seminars will take place in London on April 27, while the second will be held in Hamburg April 28.

Apr 12 - Dominance of North-West European Ports Under Threat from Mediterranean: Report
With North-West Europe home to some of the world's biggest bunkering ports, a shift in traffic could have a potentially notable impact on marine fuel markets.

Apr 12 - Crude Will Hit $85 by End of 2016: Cornerstone Analytics
Such a prediction would, based on current trends, translate to IFO380 bunkers in the $300 to $400 pmt range in the primary ports.

Apr 12 - Any Oil Production Freeze Will Have Limited Near-Term Impact on Tanker Markets: Teekay
But the tanker owner agrees with many others who say such a freeze is unlikely to be reached at the April 17 meeting in Doha.

Apr 12 - Lithuanian LNG Bunkering Project at Risk of Collapse
Lithuania's Prime Minister says talks between LitGas and Statoil for small-scale LNG trade must be completed within two weeks.

Apr 12 - CMA CGM Proposes Alliance Shakeup to Win EU Approval for Takeover of Singapore's NOL
The deadline for its decision on the Neptune Orient Lines takeover has now been pushed from April 15 to April 29.

Apr 12 - Marine industry looks to cruise ships, wind farms to weather oil slump
Marine and offshore engineering companies are turning to cruise ships, fishing vessels or even sea-based wind farms to keep their earnings afloat as weak oil prices slash new spending by big energy companies. Many companies that have focused on building or chartering vessels to support offshore drilling and exploration have seen orders and charter rates tumble following a two-thirds drop in oil prices since mid-2014, pushing them to diversify. click here.

Apr 11 - Wärtsilä to Supply Hybrid LNG Propulsion Packages to Two BC Ferries Vessels
The retrofits are part of mid-life upgrades set to be completed on the two RoPax ferries, the Spirit of British Columbia and the Spirit of Vancouver.

Apr 11 - Sainty Marine Assets to be Sold in Online Auction
Assets totalling some CNY350 million ($54 million) are to be sold April 16 and 17 on digital shopping site Taobao.

Apr 11 - Australian Port Workers Planning Further Strike Action
An Australian dockworkers union has announced planned work stoppage set for April 13 at Sydney's Autostrad Terminal.

Apr 11 - Portuguese Ports to be Hit by Two Weeks of Strike Action
The dock workers union has issued notice of strike action, which will occur from April 20 to May 5, at the ports of Lisbon, Setúbal, and Figueira da Foz.

Apr 11 - MPA Announces Session for Bunker Industry Players at 11th Singapore Maritime Week
MPA CEO Andrew Tan says, overall, SMW 2016 will be focused addressing the economic challenges and untapped growth areas in a challenging market.

Apr 11 - US Authorities Fine South Korean Bunker Tanker Owner $950,000
"The defendants in this case falsified their log books in an attempt to conceal their crimes," says the EPA.

Apr 11 - Update: New Singapore Bunker Player in Talks to Buy Malaysian Physical Supplier
But reports indicating a deal has already been done are incorrect, a spokesperson for the company tells Ship & Bunker.

Apr 11 - Oil at $35 is Economic Poison for Some Exporting Countries, But Good for U.S. Investment
A Macquarie analyst warns that the price will cause further credit downgrades and possible large scale bankruptcies.

Apr 08 - Hyundai to be "Stabilized" by June - But Defaults on Multi-Million Dollar Debt Repayment
Hyundai says it will use proceeds from its dry bulk sales "only for fuelling the normalization of the company's business."

Apr 08 - 20|20 Vision: Ensuring a Level Playing Field - The Challenge of Regulatory Compliance
Compliance based on trust rather than oversight would likely prove a costly option.

Apr 08 - Update: New Singapore Bunker Player in Talks to Buy Malaysian Physical Supplier
But reports indicating a deal has already been done are incorrect, a spokesperson for the company tells Ship & Bunker.

Apr 08 - Bunker Spill Response Sparks Twitter Backlash
Local recreational boaters are unhappy at the clean up following the Istra Ace spill last month.

Apr 08 - MOL Announces Bunker Saving Hull Design of Newbuild Car Carrier
The company says the rounded hull is expected to enable a 2 percent reduction in CO2 emissions compared to current car carriers.

Apr 08 - OW Bunker: Another Blow for Physical Suppliers as Court Rules in Favour of Ship Owner in Double Payment Claim
A judge has ruled an owner is not liable to pay the physical suppler as there was never a contract directly between them.

Apr 08 - Monjasa: No Evidence Was Presented at Trial That Saw 14 Convicted, Bunkering Vessel Forfeited
The local authorities have released only sporadic details on the trial.

Apr 08 - China teapot refiner oil buying spree creates tanker jam at Qingdao
A surge in oil buying by China's newest crude importers has created delays of up to a month for vessels to offload cargoes at Qingdao port, imposing costly fees and complicating efforts to sell to the world's hottest new buyers. China's independent refiners, freed of government constraints after securing permission to import just last year, have gorged on plentiful low-cost crude in 2016. This has created delays for tankers that have quadrupled to between 20 to 30 days at Qingdao port in Shandong province, the key import hub for the plants, known as teapots, according to port agents and ship-tracking data. click here.

Apr 08 - UK shipping sector risks sinking fortunes if Brexit prevails
If Britain votes to leave the European Union, the country's shipping sector faces years of disruption as trade agreements get reworked and currency volatility leads to higher costs at a time when the industry is battling its worst global downturn. Shipping contributes some 10 billion pounds ($14.2 billion) annually to the UK economy and directly employs 240,000 people in multiple areas including maritime services such as ports, transportation, as well as ship broking and marine insurance. click here.

 Apr 08 - Chinese engineer Tysan says to sell majority stake to HNA for $338 mln
Chinese engineer Tysan Holdings Ltd plans to sell a controlling stake to aviation and shipping conglomerate HNA Group Co Ltd for HK$2.62 billion ($338 million), a move which could trigger a mandatory general offer for the firm. The announcement sent Tysan shares up as much as 9.3 percent on Tuesday morning to a record high of HK$4.47 before they fell back to HK$4.37, still up 6.9 percent. That compared with a 1.5 percent fall in the benchmark Hang Seng Index. click here.

 Apr 08 - Saudi's Bahri says secures 1.43 bln riyal Islamic loan for five VLCCs
National Shipping Company of Saudi Arabia said on Sunday it had signed a murabaha facility with Riyad Bank valued at 1.425 billion riyals ($380 million) to finance the construction cost of five very large crude carriers. The facility lasts for a period of 10 years and six months, and includes a maximum two-year grace period, the firm known as Bahri said in the bourse statement. click here.

Apr 08 - China's COSCO Shipping orders 10 ships from CSSC
China COSCO Shipping Corp has placed an order for 10 very large ore carriers (VLOC) from China State Shipbuilding Corp (CSSC), the official Xinhua news agency reported late on Thursday. The value of the contract was not disclosed, but all 10 of the vessels will be large 400,000 tonne ships, Xinhua said. click here.

Apr 07 - OW Bunker: Another Blow for Physical Suppliers as Court Rules in Favour of Ship Owner in Double Payment Claim
A judge has ruled an owner is not liable to pay the physical suppler as there was never a contract directly between them.

Apr 07 - OW Bunker: No Way For Shipowners to Pre-Empt Arrests Under UAE Law
However Al Tamimi & Company suggests there are ways for shipowners who have had their vessels arrested to reduce legal expenses.

Apr 07 - VPS Urges Vigilance When Using "Hybrid" ECA Fuels
But such bunkers can provide significant benefits if "challenges are understood and can be addressed."

Apr 07 - New Singapore Bunker Player Buys Malaysian Physical Supplier: Reports
Wee Tiong's managing director says the company has purchased Victory Supply's assets and operations.

Apr 07 - U.S. Plant Looks to Tap into LNG Bunker Market
The Philadelphia Gas Works says it has ambitions of moving into supplying LNG for bunkers, among other uses, through a $120 million plant expansion.

Apr 07 - Meech: New IBIA Chairman Talks Better Bunker Practices, Ethics, Enforcement of Bunker Regs, Membership Growth
The role and value of IBIA is constantly changing, reflecting the industry it represents, Meech tells Ship & Bunker.

Apr 07 - Monjasa: No Evidence Was Presented at Trial That Saw 14 Convicted, Bunkering Vessel Forfeited
The local authorities have released only sporadic details on the trial.

Apr 07 - OPEC Predicts Successful Freeze Meeting - But Latin America Will Discuss the Proposal Beforehand Anyway
Ecuador, Colombia, and Venezuela will try to reach a joint position on April 8.

Apr 06 - Huge oil tanker traffic jam builds at Iraq's Basra port
A traffic jam of nearly 30 large oil tankers has built up outside the Iraqi port of Basra due to loading delays, with some waiting up to three weeks and costing ship operators around $75,000 a day per vessel. Shippers and port sources said more delays are expected throughout April as the city's facilities struggle to cope with Iraq's soaring crude output. click here.

Apr 06 - Surging Dry Bulk Rates Are "Just Prolonging the Pain" for the Sector
While the Baltic Dry Index gained another 16 points Tuesday to reach 487, industry commentators advise caution in celebrating the index's rise.

Apr 06 - EU Approves Funding for Baltic Sea Scrubber Waste and LNG Bunkering Infrastructure Project
The BPO says it has received approval from the EUSBSR Seed Money Facility for the Green InfraPort project, as well as €46,140 in EU grant funding.

Apr 06 - MAN: Even Bigger Propellers and Lower Speed Engines Should Give 4-7% Bunker Savings
The news comes as part an announcement of MAN's delivery of the "world's first" IMO-certified two-stroke engine with Tier III NOx Control and EGRS.

Apr 06 - Stena Line Orders "World's Most Fuel Efficient" Ferries
The four vessel will also be "gas ready", and will be able to be fuelled by either methanol or liquefied natural gas.

Apr 06 - Monjasa: No Evidence Was Presented at Trial That Saw 14 Convicted, Bunkering Vessel Forfeited
The local authorities have released only sporadic details on the trial.

Apr 06 - Industry Insight: Bunker Surveyors in a World of Mass Flow Meters
Is it time for bunker surveyors to hang up their boots?

Apr 06 - Baltic Dry Index Continues to Soar on Surging Capesize Rates
The BDIs continued upward movement comes alongside news of MOL's major restructuring plan that will see its Capesize fleet reduced by 10 percent.

Apr 05 - Oversupply forces rare gasoline storage on ships in Asian waters
At least three European trade houses are keeping gasoline aboard long-range tankers in Asia in an extremely rare move as the market is badly hit by oversupply, traders said on Monday. Some of the traders are unable to discharge the cargoes which came in from Europe to Singapore/Malaysia as onshore tanks in the latter are full to the brim, while others are "floating" volumes in view of the persistent contango market structure. click here.

Apr 05 - Singapore: MPA Offers Port Dues Discounts to Help Ailing Dry Bulk
The concession will be applicable if the vessels are carrying out cargo works with a port stay of not more than five days and will be in place for one year.

Apr 05 - Bunker Prices, Economic Cycles Driving Ship Efficiency Gains, Not IMO's EEDI Standard: NGOs
Seas At Risk and T&E say a new study shows that the IMO's EEDI is too weak to drive shipping's adoption of new efficiency tech.

Apr 05 - Group of 26 Investors File Suit in Copenhagen Against OW Bunker, Executive Team, and Altor
The group, which includes ATP and PFA, allege that the now defunct company was misrepresented in its 2014 IPO

Apr 05 - Biggest Ever Saudi Economic Overhaul Suggests It Is Bracing to Withstand Long Term Low Oil Prices
Massive proposed Saudi economic reforms include more levies, money loans, and the creation of the world's largest sovereign wealth fund.

Apr 05 - Bunker Spill Ship Wreck No Longer Considered a Hazard
While some oil still remains on the sunken MV Rena, officials say the vessel is no longer classified as a hazard.

Apr 05 - Industry Insight: Bunker Surveyors in a World of Mass Flow Meters
Is it time for bunker surveyors to hang up their boots?

Apr 05 - Baltic Dry Index Continues to Soar on Surging Capesize Rates
The BDIs continued upward movement comes alongside news of MOL's major restructuring plan that will see its Capesize fleet reduced by 10 percent.

Apr 04 - Saudi King's Son: No Production Freeze Unless Iran Plays Ball
The man who would be king is also trying to generate cash flow by selling shares of Saudi Aramco.

Apr 04 - US Shale Players Pumping Oil Stronger Than Ever Despite Bankruptcies
Lack of spending is viewed as more troublesome to the market than filing for creditor protection.