Jan 23 - OPEC, Non-OPEC Members Say Oil Output Cuts Are "Above Expectations"
Output has already been cut by 1.5 million bpd, the nations participating in the oil deal have said.
Jan 23 - Peter Grunwaldt Joins Hafnia Management as Pool Moves to take Bunkering Requirements In-House
"By bringing the bunkering requirements in-house we will strive to deliver even greater value," Grunwaldt tells Ship & Bunker.
Jan 23 - Gard Issues Reminder of IMO Fuel Oil Sampling Guidelines
IMO's "Guidelines for Onboard Sampling for the Verification of the Sulphur Content of the Fuel Oil used on board ships," was published on December 9.
Jan 23 - EnQuest Joins Saudis in Predicting Global Oil Shortage Due to Lack of Investment
EnQuest CEO says this will have a "significant impact" on the availability of additional capacity.
Jan 23 - Heavy Orderbook May Not Be as Bad for Tanker Market as Initial Appearances Suggest: Poten & Partners
In its latest Tanker Opinion, the consultancy suggests that actual deliveries will not be as high as scheduled deliveries.
Jan 23 - Suezmax Tanker Arrested in Singapore
The 1997-built Ambassador was arrested Thursday following action by Gurbani & Co LLC.
Jan 20 - Turkish Bunker Association Elects New Board Members, Chairman
The new appointments follow a general meeting held on Wednesday January 18, 2017, in Istanbul, the association has told Ship & Bunker.
Jan 20 - Malaysian Port City Project "Complementary," Not Competition to Singapore: Port Klang Chairman
Malaysian plans to develop a $45 billion industrial port city at Carey Island could be completed as early as 2025.
Jan 20 - Suezmax Tanker Arrested in Singapore
The 1997-built Ambassador was arrested Thursday following action by Gurbani & Co LLC.
Jan 20 - COSCO Preparing $4 Billion Bid for OOCL: Reports
A source close to the matter says the discussion has been ongoing "for months."
Jan 20 - More Efficient Shipping to Play a Major Role in Ensuring Global Stability, Says IMO Head
IMO's Secretary-General Kitack Lim made the comments Thursday at the official launch of IMO's theme for 2017: "Connecting Ships, Ports, and People."
Jan 20 - Latest Prediction of $60 Oil Is Undercut by Warning That a Drop to the $30s Will Occur in 2018
T. Rowe Price New Era Fund manager says too much production is going on to truly boost prices.
Jan 19 - As the smog lifts, China's ports grapple with huge traffic jam of ships
A huge traffic jam of hundreds of ships carrying coal and iron ore into China has built up outside key ports like Tianjin and Caofeidian, just as winter demand hits its peak ahead of the Chinese New Year holiday later this month. Major northern Chinese ports have suspended loading of ships several times since December 20 due to poor visibility largely caused by smog that has enveloped large parts of northern China at various times in recent weeks. Click here to read full stories.
Jan 19 - China pledges support for shipbuilding industry, targets high-end market
China aims to capture up to 40 percent of the global high-end marine equipment market over the years through 2020 while reforming and supporting its money-losing shipbuilding industry, the government said on Thursday. The pledges were laid out in a statement published by six ministries on the website of the Ministry of Industry and Information Technology. The statement broadly outlined their plans for Chinese shipbuilding over 2016-2020.Click here to read full stories.
Jan 19 - World seaborne coal trade fell 1.5 pct in 2016 - German importers
World coal seaborne trade fell 1.5 percent last year due, among other reasons, to a slowdown in big exporter Venezuela and less demand in the United States, German coal import lobby VDKI said on Friday. VDKI, whose 69 member companies buy supplies from countries such as Russia, Colombia, Australia and South Africa, put world coal seaborne trade - imports and exports - last year at 1.1 billion tonnes. World coal demand was 7 billion tonnes. Click here to read full stories.
Jan 19 - Pirates attacking bigger ships off Philippines for ransom money
Asian pirates are focusing more of their attacks on larger merchant ships near the Philippines, hoping for bigger ransom payments from kidnapping their crew, the head of a regional anti-piracy body said on Friday. The region's pirates have changed tactics since October, to target some of the biggest ships travelling through the Sulu and Celebes Seas, and paying less attention to small tugs and fishing boats. Click here to read full stories.
Jan 19 - Standard Chartered closes $1.6 bln-plus of shipping finance deals
Standard Chartered said on Tuesday it had completed three shipping deals worth more than $1.6 billion in recent months. The deals include in December a $684.5 million up to 12-year facility for BW Gas JuJu LNG, a joint venture between BW Group and Japan's Marubeni. In November, the bank also structured a $350 mln Islamic facility for National Shipping Company of Saudi Arabia (Bahri). The month before it closed a $572 mln loan to subsidiaries of India's Reliance Group, the bank said in a statement.Click here to read full stories.
Jan 19 - Egypt's Suez Canal revenues rise to $414.4 million in December
Egypt's Suez Canal revenues rose to $414.4 million in December from $389.2 million the previous month, according to a government information website. The canal is the fastest shipping route between Europe and Asia and one of Egyptian government's main sources of foreign currency. Egypt has been struggling to revive its economy since a 2011 uprising scared away tourists and foreign investors, key earners of hard currency.Click here to read full stories.
Jan 19 - IEA Warns Higher Oil Prices Will Give a "Significant" Boost to Shale Amid Signs U.S. is Already Ramping Up
The worries presumably extend to Exxon Mobil doubling its presence in the Permian Basin.
Jan 19 - OPEC Predicts Persistent but Reduced Oil Glut in 2017, Is Mindful of U.S. Shale Growth
Media worries that this growth "could weigh on OPEC efforts to boost oil prices."
Jan 19 - Alphaliner: 2017 Could Break Record High Box Ship Scrapping Levels Set in 2016
Alphaliner suggests as much as 750,000 TEU in box ship tonnage could be on track for demolition.
Jan 19 - MPA Clarifies Drop in Licensed Mass Flow Meter Equipped Bunkering Vessels
"Four bunker tankers are currently undergoing a change in ownership and do not have any bunker craft operator licensee appointed," an MPA spokesperson tells Ship & Bunker.
Jan 19 - Oil Benchmarks Falls Nearly 3%
Bunker prices were softening in the primary ports.
Jan 19 - Rumours of Financial Trouble Swirl as Bunker Player Loses 2 Barges
Sources familiar with the matter have told Ship & Bunker that the shipyard took the vessels back last week.
Jan 18 - Record Russian Output Forecast, Rising US Production and Iraqi Compliance Concerns Point to Huge Oil Inventory Increases Later This Year
Observers say the production resurgence will commence following the end of the OPEC cuts in June.
Jan 18 - Dana Gas Warns of 1 Billion Barrel Oil Glut as Saudi Aramco Calls For $25 Trillion in New Oil Capacity
Meanwhile, BP says oil's going nowhere and is planning for a $55 price average this year.
Jan 18 - Planned LNG Bunkering Facility in Estonia Thrown into Question
Estonian media reports that the Mõntu Harbour facility will not proceed - at least not at the scale previously announced.
Jan 18 - Harley Marine Orders Two New 7,500 DWT Bunker Vessels: Reports
While the price of the two vessels has not been revealed, the pair are said to be set for delivery in December 2017.
Jan 18 - Declining Dollar Holds Up Oil Prices
Bunker prices were firm to stable in the primary ports.
Jan 17 - Subsea Industries Pushes for Regs to Prevent Biofouling on Ship Hulls
The company says the only real way to prevent the spread of invasive aquatic species is to ensure that ships sail from their point of origin with a clean hull.
Jan 17 - Bureau Veritas Extends Congratulations as Seaspan's New Dual-Fuel Hybrid Ferry Enters Service
Seaspan Swift and its soon to be delivered sister vessel, Seaspan Reliant, are both noted to be classed by BV.
Jan 17 - DNV GL and Jotun to Host Hull Performance Conference in March
The second Hull Performance & Insight Conference is set to take place at Germany's Castle Ulrichshusen from March 27 to 29.
Jan 17 - IMO to Discuss "Smooth and Effective" 0.50% Sulfur Cap Implementation
The Sub-Committee on Pollution Prevention and Response is holding its fourth session from January 16 to 20.
Jan 17 - Carnival Highlights Strategy Toward More Efficient Vessels with Launch of Latest Newbuild
Seabourn Encore is noted to be the first of three new ships set to enter service in 2017 across three of Carnival's 10 global cruise brands.
Jan 17 - China cancels ethanol imports as tax hike threatens trade
Chinese buyers have cancelled up to seven cargoes of ethanol due to arrive by the end of March, sources said, the first sign that a likely hike in import duties is threatening to stall demand from the world's fastest-growing market. Based on China not listing a new ethanol import tariff for 2017, the tariff is likely to rise to 30 percent from 5 percent and that should shut imports out of the market based on current prices, said two market participants familiar with the ethanol market in China. Click here to read full stories.
Jan 16 - New Bunker Regs and Ballast Rules a "Win" for Shipowners with Younger Vessels: UBS
60 percent of owners surveyed for the UBS report say they expect to scrap their older vessels in response to new regulations.
Jan 16 - Demand for Low Sulfur Bunkers in 2020 Will Be Higher Than Previous IEA Estimates, New Survey Suggests
The figure comes as the result of a new UBS survey on marine transport, which focuses on the effects new regulations may have on shipping.
Jan 16 - 2017 Will be a Healthy Year for the Bunker Industry: Muhtaroglu
"Only good service providers who respect their clients will be long term actors, the rest will disappear," the Energy Petrol founder tells Ship & Bunker.
Jan 16 - "Significant" Oil Supply-Demand Gap is Again Cited at Abu Dhabi Energy Conference
IEA's Fatih Birol warns that the shortage could come as early as in three years' time.
Jan 16 - Zero Emission Propulsion Project to See Development of Hydrogen-Powered Ferry
The energy efficient ferry will be powered by hydrogen fuel cell technology and feature supplementary battery-power.
Jan 16 - Hanjin Granted Leave to Withdraw Singapore Court Proceedings
The Supreme Court has also discharged Hanjin's interim stay order, which was previously granted on September 9, 2016.
Jan 13 - Bunker Supplier Arrests Cruise Ship in Singapore
At least one other bunker supplier has also made a claim.
Jan 13 - U.A.E. Says $50 "Won't Cut It" for Arab Economies, as a New Wave of Predictions Peg Oil at $70
Meanwhile, the Saudis suggest that instead of worrying about the glut, we should brace for a shortage.
Jan 13 - Gold Star Exec Expects Further Intra-Asia Box Rate Increases on Bunker Price Growth
Danny Hoffmann of Gold Star Line says there is no space for further cost increases in current market conditions.
Jan 13 - Saudis, Kuwait, Algeria Report Cutbacks by More Than Promised in Advance of Vienna Compliance Meeting
However, in advance of any hard facts it's unclear whether compliance with OPEC's agreement has truly been achieved
Jan 13 - California Ports Continue to Seek Input on Proposed Updates to Its Clean Air Action Plan
The port authorities will host a joint community workshop on January 24 in order to receive input on proposed updates to the CAAP.
Jan 13 - As the smog lifts, China's ports grapple with huge traffic jam of ships
A huge traffic jam of hundreds of ships carrying coal and iron ore into China has built up outside key ports like Tianjin and Caofeidian, just as winter demand hits its peak ahead of the Chinese New Year holiday later this month. Major northern Chinese ports have suspended loading of ships several times since December 20 due to poor visibility largely caused by smog that has enveloped large parts of northern China at various times in recent weeks. Click here to read full story.
Jan 12 - Insurance gaps leave shipping exposed to growing cyber threats
Shipping companies grappling with the threat of cyber attacks on vessels are finding insurance policies often fall short, officials involved in both industries say, a risk that could feed through into global prices. Digitalisation means electricity networks, emergency services, industry and agriculture are all vulnerable to hacking by criminal gangs for extortion or, for political reasons, by militant groups or foreign states. Click here to read full story.
Jan 12 - Hungary, Bulgaria ban shipping on Danube as river freezes over
Hungary and Bulgaria have banned shipping on the Danube as the river is freezing over and floating ice poses a risk. Gabriella Siklos, spokeswoman for the Hungarian General Directorate of Water Management, told Reuters on Tuesday that the ban was effective from 1500 GMT.Click here to read full story.
Jan 12 - Sulu Sea kidnappings a threat to merchant shipping - report
The Sulu Sea between eastern Malaysia and the Philippines has become dangerous for merchant shipping due to rising threat of kidnappings, the International Maritime Bureau (IMB) said on Tuesday. The Sulu archipelago is a stronghold of the Abu Sayyaf, an al-Qaeda linked group notorious for kidnappings and, increasingly, piracy. Click here to read full stories.
Jan 12 - Shallow water still hinders Rhine and Danube shipping in Germany
Low water levels after dry weather in recent weeks continued to prevent cargo vessels from sailing fully loaded on the Rhine and Danube rivers in Germany, traders said on Monday. All of the Rhine and Danube in Germany are too shallow for normal sailings with some barges in central Germany only able to sail 30 percent full, they said. Loads were being divided among several vessels instead of being carried by a single craft, increasing transport costs for cargo owners. Click here to read full stories.
Jan 12 - New Study Shows Wind Technologies Provide "Significant" Potential for Power Savings in Shipping
The study examined the use of various wind technologies for wind-assisted commercial shipping.
Jan 12 - Market Reacts Favourably to Saudi Crude Cuts, But Record Shipments Elsewhere Herald Bearish Sentiment
More bad news comes with a rise is U.S. crude inventories.
Jan 12 - TOTAL Marine Fuels to Rebrand as it Moves to Offer a Full Range of Compliant Bunker Fuels
"From 2017 TOTAL Marine Fuels will become 'TOTAL Marine Fuels Global Solutions'," Managing Director Olivier Jouny tells Ship & Bunker.
Jan 12 - Suez Renews Discounts for Box Carriers
SCA will be extending the discounts, which were originally announced in June 2016, until June 30, 2017.
Jan 12 - MPA Grants MFM Approval to Another Bunker Vessel
Hong Lam Marine's 2,673 GT tanker Sea Swift received MPA's MFM approval for bunkering on January 3, 2017.
Jan 12 - OOCL May Become the Latest Box Carrier to Be Swallowed by Consolidation Wave
Alphaliner notes OOIL has seen its share price grow by 20 percent since January 1, 2017, spurring on speculation that OOCL is an acquisition target.
Jan 12 - Accident at port of Brazil miner Vale kills one, injures another
An accident on Tuesday at a port in northeastern Brazil run by miner Vale SA killed one worker and injured another, the company said in a note on Wednesday. Vale said the pair worked for an external company hired to erect scaffolding on pier 1 of the Ponta da Madeira terminal in the state of Maranhao.Click here to read full stories.
Jan 11 - Record High February Exports From Iraq Cause Further Market Downturns
Iraq's output adds fuel to the argument that OPEC's cutback agreement is coming apart at the seams.
Jan 11 - 2017 Could Position Dry Bulk Market for Significant Gains in 2018, Say Industry Experts
The Baltic Dry Index, reversing gains made last week, shed 23 points Tuesday, falling to 926.
Jan 11 - Global Piracy Falls to Lowest Level Since 1998: IMB
Overall in 2016, 150 vessels were boarded, 12 vessels were fired upon, seven were hijacked, and 22 attacks were thwarted, says IMB.
Jan 11 - Potential Economic Impacts on Singapore from Malacca Port Expansion Still Unknown, Says Minister
Josephine Teo, Singapore's Senior Minister of State for Transport, says the KLIP expansion is a "timely reminder" to ensure Singapore's competitiveness.
Jan 11 - New Denmark-Based Bunker Company NORbunker A/S Starts Operations
"The markets are tough for many right now but I think there will always be a place for the smaller traders," founder Jesper Riis Christiansen tells Ship & Bunker.
Jan 10 - Renewed Call to Include Shipping in Europe's Emissions Trading Scheme
Several industry bodies have voiced concern at the prospect of shipping being included in such regional EU rules.
Jan 10 - Neste Inks Low Sulfur Bunker Supply Deal with Polferries
"This cooperation is enabled by the fact that our product's distribution services are expanding to Sweden," the company says.
Jan 10 - Embattled Venezuela Issues $5 Billion in Sovereign Bonds, Pledges 50 Percent Stake in Citgo to Russia
Meanwhile, president Nicolas Maduro says his country is the "victim" of an economic war with opponents.
Jan 10 - Record-Pumping Russia Latest Nation to Report Cutback Compliance
But doubt still persists whether the OPEC deal will be fully implemented.
Jan 10 - LNG Gorskaya Signs Agreement for LNG Bunkering at Port of St. Petersburg
Under the new agreement, LNG Gorskaya is slated to begin LNG bunkering operations at the passenger port beginning January 1, 2018.
Jan 09 - Petro Inspect Expands with 2 New Offices in Europe
"The Petro Inspect Group of Companies now comprises of 9 offices in strategic locations providing near-global coverage," says founder Kaivan H. Chinoy.
Jan 09 - Effective Use of Big Data & Remote Monitoring
Views differ as to whether a fully-fledged Big Data strategy best serves the true requirements of vessel operators
Jan 09 - Saudi Compliance on Cutback Deal Means Opportunities for Rival Iran and Other Producers
Iran, Iraq, and Libya boost production in December, according to a Reuters survey.
Jan 09 - Crude Creeps Up as Worries Persist Over OPEC Cutback Compliance
The familiar question is being raised about whether the cutbacks will have any real effect on the global glut.
Jan 09 - USCG Examining Battery Power for Use in Vessel Propulsion
The USCG is said to be in the early stages of policy development to address lithium-ion battery hazards.
Jan 06 - After a Tough 2016, What Can The Bunker Industry Expect in 2017?
Restructuring, the journey to 2020, rising and volatile bunker prices, and digital bunkering are all in the outlook for the coming year.
Jan 06 - OceanConnect Marine Expands With New Athens-Based Bunker Traders
"We are delighted to add our sixth trading location," says OCM Managing Director S.I. Shim, who is set to announce further hires in Q1 and Q2 of 2017.
Jan 06 - Bunker Price Increases to Add to Dry Bulk Stress, Says Singapore Shipping Exec
"Current prices or moderate increases can be reasonably anticipated to last through 2017," says Eddie Huang of Glory Pacific Shipping.
Jan 06 - MPA Issues Reminder Circular as Singapore Enters Era of Mandatory Mass Flow Meter Use for MFO Bunkering
MPA reminds suppliers it "will take firm action against any licensee who has acted in contravention of their licences."
Jan 06 - Sri Lanka to Renegotiate Framework Agreement with Chinese Company for Hambantota Port
The agreement outlines the management of the Port of Hambantota under the joint venture, which includes bunkering.
Jan 06 - Crude Makes Gains After a Back and Forth Day
Saudi Arabia confirmed it is holding up its end of the OPEC agreement.
Jan 05 - Increased North American Production Will Cap Oil in the $55-$60 Range For 2017: Analysts
Meanwhile, a top U.S. oil industry group calls on Trump to reduce regulations.
Jan 05 - Iraq May Not Be Able to Fulfill Its OPEC Cutback Obligations
Meanwhile, Libya is making progress in doubling its output capacity for 2017.
Jan 05 - WWL Highlights Sustainability Strategy Amid Challenging Market
Anna Larsson, Head of Sustainability at WWL, says the company's sustainability efforts combine long-term vision and immediate-term targets.
Jan 05 - Buckeye Finalises Acquisition of 50% Share in VTTI
Buckeye acquired the 50 percent share in VTTI for $1.15 billion, with VTTI now owned indirectly through a 50/50 split between Buckeye and Vitol.
Jan 05 - Oil Benchmarks Regain Ground After Yesterday's Losses
Bunker prices were firmer in the primary ports.
Jan 04 - Carnival Forecasts Average Bunker Price to Rise 32% in 2017
The cruise giant says it also expects bunker consumption for 2017 to rise slightly.
Jan 04 - 2016 Sees Record Year for Container Ship Scrapping
Nearly 600,000 TEU is reported to have been scrapped during January-November period in 2016.
Jan 04 - Oil Spikes to 18 Month High on OPEC Deal Comments from Riyadh, Kuwait and Oman
But a strong dollar combined with persistent skepticism causes US crude to slide to a two week low by the end of the day.
Jan 04 - Iran "Racing to Seal Deals" with Oil Giants Before Trump Takes Possible Action Against the Islamic State
BP reportedly declines to bid on Iranian oil and gas projects for the time being, due to qualms over the brash billionaire.
Jan 04 - IMO's New Code for Gas-Fuelled Ships Implemented
IMO issued a reminder that a new mandatory code for ships using gases or other low-flashpoint fuels entered into force on January 1.
Jan 03 - OPEC Cutback Cheating "Inevitable", Say Critics; Actual Cuts Could Be As Low As 700,000 bpd
A host of analysts predict bad news for OPEC compliance and Russia's participation in the New Year.
Jan 03 - Shale Producers Promise To Not Overdo It As They Prepare To Ramp Up Spending
North American capital investments are forecast to rise by 30 percent next year.
Jan 03 - Baltec Marine Installing Scrubbers on TT-Line RoPax Ferry
Delivery is said to be expected for January 10, 2017.
Jan 03 - Malik Supply - Nordic Marine Hire New Senior Bunker Trader
Michael Rye Jørgensen will fulfil the role of senior bunker trader, effective January 1, 2017.
Jan 03 - MPA Issues Reminder Circular as Singapore Enters Era of Mandatory Mass Flow Meter Use for MFO Bunkering
MPA reminds suppliers it "will take firm action against any licensee who has acted in contravention of their licences."
Dec 30 - Bulls Forecast 2017 As "One of the Best Oil Years," Cooler Heads See Crude Capped at $60
Amid further predictions of oil hitting $100/bbl, a new Reuters poll pegs oil in a more conservative $60 neighbourhood.
Dec 30 - Crude Benchmarks Soft After Another Quiet Day
Bunker prices have been relatively stable today.
Dec 30 - Hanjin Reports U.S. Assets Fall Significantly Short of Liabilities
The company's U.S. assets are noted to total more than $124 million, while liabilities are reported to amount to $340 million.
Dec 30 - Debunkering Underway for Grounded Vessel in Greece
Crews are reported to have removed 4,600 litres bunkers from one of the fuel tanks of the grounded vessel, Cabrera.
Dec 30 - Port of Amsterdam "Recalibrates" Shore Power Pricing Policy
"Shore power contributes to a cleaner, greener port and the Port is seeking to expand this facility substantially," says the port.
Dec 29 - Our best wishes for a serene (and decisively less turbulent) New Year 2017 to all friends, tweeps, readers, followers and clients.
Dec 29 - Prospect of Lower Demand and OPEC Cheating Doesn't Deter Predictions of $100 Oil
Tim Pickering points out that oil doesn't like to "stay stuck" for very long.
Dec 29 - Venezuela Vows To Slash Production, Create 10 Years Of Market Stability
Venezuelan president Nicolas Maduro says he will achieve his stability goal but didn't explain how.
Dec 29 - Oil Markets Quiet, but Heading Towards Year End on an Upwards Trend
There are hopes though that with the new year oil benchmarks will soften as they seem overheated from December's rally.
Dec 29 - ECA Bunker Firm Neste to Buy Former Biodiesel Plant
Previously, conventional FAME biodiesel was produced at Sluiskil," the company says.
Dec 29 - ReCAAP: No Tanker Hijackings for Oil Cargo Theft in November, Total of Three Since January
Instances of piracy and armed robbery against ships in Asia saw a 60 percent decrease in November 2016 compared to the same month of 2015.
Dec 28 - Crude Creeps up as Libya and Nigeria Announce Output Increases
Analysts debate whether we're headed for a further price rally or a stall.
Dec 28 - "Bargain hunting" China May Slow Glut Reduction If OPEC Cutbacks Boost Prices Further: ClipperData
Analysts also cite U.S. shale as potentially ruining the effect of the cutbacks.
Dec 28 - PureBallast BWM System Gains U.S. Approval
Anders Lindmark of Alfa Laval says PureBallast now has USCG and IMO type approvals.
Dec 28 - Japanese Government Outlines Development Plan for Yokohama LNG Bunkering Hub
The plan was outlined in the results of a feasibility study for LNG bunkering at the Port of Yokohama, which was released by MLIT on Monday.
Dec 28 - Shenzhen Brightoil Renews Service Agreement with Brightoil E-Commerce
Brightoil says the agreement "serves to continue the innovative development synergy between the Group and the Shenzhen Brightoil Group."
Dec 27 - Shell Signs Sale Agreement to Divest Vivo Energy Stake to Vitol Africa
The sale, subject to regulatory approval, is expected to be finalised in the first half of 2017.
Dec 27 - GIB Takes Action Over Unpaid Newlead Bunker Bill
Glander International Bunkering is one of a number of companies seeking payment from Newlead Victoria.
Dec 27 - New Singapore Hire for OceanConnect Marine
The company says it will also be launching a new European office in January 2017.
Dec 27 - Ports of Auckland Investigates Shore Power Toward Zero Emissions Goal
The port is aiming to become carbon neutral by 2025 and have zero emissions by 2040.
Dec 27 - Shanghai, Trinidad and Tobago to Host Regional Centres Under IMO Maritime Efficiency Project
The project is intended to support climate change mitigation efforts by reducing greenhouse gas emissions from shipping.
Dec 27 - Significant Pollution Reported After Vessel Grounds on Greek Coast
The 5,553 DWT general cargo ship, Cabrera, ran aground on the island of Andros' rocky north coast early Saturday morning, and is suggested a total loss.
Dec 27 - NCL Completes Scrubber Installation on Two More Ships
With the latest installs on Norwegian Pearl and Norwegian Gem, NCL now has a total of five ships fitted with scrubbers.
Dec 26 - BFS Provides Praxis Energy Agents with $5 Million Revolving Line of Credit
Praxis is said to be utilising the new facility to support working capital and explore opportunities for future growth.
Dec 26 - VPS Launches New MFM Performance Investigation Service Ahead of Singapore Reg Implementation
The service is intended to support the dispute resolution process upon Singapore's implementation of MFM requirements on January 1, 2017.
Dec 23 - Al-Falih: Crude Prices Will Increase "Tangibly" in 2017
The Saudi energy minister also predicts his kingdom's budget deficit will be eliminated by 2020.
Dec 23 - Saudi Prediction of Oil Revenue Increases Points to Expectation of $60 Oil Average in 2017
But the kingdom's energy minister stresses that success depends on the cuts being made as promised.
Dec 23 - Increase in Claims Spurs Shipowners' Club to Advise on Bunker Quality Disputes
Mudit Singh of the Shipowners' Club has provided advice on collating evidence and contractual terms to address bunker quality and contamination issues.
Dec 23 - Neste Makes "Christmas Diesel" from Festive Hams
The new campaign invites Finns to donate ham fat to be converted into diesel, with proceeds donated to charity.
Dec 23 - MAIB Report Cites Insufficient Lookout for Bunker Barge Collision with Cargo Vessel
The collision between the cargo ship Daroja and the bunker barge Erin Wood occurred on August 29, 2015, just east of Peterhead, Scotland.
Dec 22 - RBS near to selling $600 mln of shipping loans
Royal Bank of Scotland is close to selling at least $600 million worth of shipping loans from its portfolio, two sources familiar with the matter told Reuters. RBS, which is more than 70 percent state-owned, is still in the throes of a restructuring, which includes asset sales, job cuts and tackling multi-billion dollar charges to settle litigation and pay regulatory fines for past misconduct. Click here to read full stories.
Dec 22 - Yemen traders halt new wheat imports as famine approaches
Yemen's biggest traders have stopped new wheat imports due to a crisis at the central bank, documents seen by Reuters show, another blow to the war-torn country where millions are suffering acute malnutrition. Nearly two years of war between a Saudi-led Arab coalition and the Iran-allied Houthi movement has left more than half of Yemen's 28 million people "food insecure", with 7 million of them enduring hunger, according to the United Nations. Click here to read full stories.
Dec 22 - Low water affects Rhine and Danube shipping in Germany
Low water levels on the Rhine and Danube rivers in Germany are continuing to prevent cargo vessels sailing fully laden, traders said on Monday. Loads are having to be divided among several vessels instead of being carried by a single craft, increasing transport costs for cargo owners, they said. Click here to read full stories.
Dec 22 - Financing hitches could delay Hapag Lloyd, UASC shipping tie-up - sources
A merger of German container shipping line Hapag-Lloyd and United Arab Shipping Company (UASC) is likely to take months to complete, partly due to financing issues blamed on a deep industry downturn, sources familiar with the deal say. Hapag-Lloyd signed a binding agreement with UASC in July to form the world's fifth-largest line, valued at about 7 to 8 billion euros ($7.2-$8.3 billion), by the end of 2016. Click here to read full stories.
Dec 22 - Portugal's biggest shipper ETE seeks potential investors, possible IPO
Portugal's largest shipping company, Grupo ETE, is preparing to open up its capital to outside investors and is studying the possibility of an initial public offering as it seeks to speed up expansion in Latin America, CEO Luis Nagy told Reuters. Family-owned ETE, which was set up 80 years ago, focuses on river transport and is the sector leader in the Iberian Peninsula. It already operates in Colombia and Uruguay. Click here to read full stories.
Dec 22 - BPA Could Lend British Bunker Players a Hand in Post-Brexit Market
The British Ports Association is pushing for special "port zoning" to ensure the maritime sector remains competitive.
Dec 22 - Tight Avails at Port of Keelung
CPC says its unable to receive any new fuel oil orders at Keelung Port on or before December 26, citing low stock level at the port.
Dec 22 - Interview: TOTAL Confirms its Ambition in LNG Bunkering Business
"The 0.50% global sulfur cap in 2020 will accelerate the change in the needs and habits of the shipping industry," MD Olivier Jouny tells Ship & Bunker.
Dec 22 - Environmental Group Issues Praise for Steps by U.S. and Canada to Phase Down HFO Use in the Arctic
The two governments are planning to jointly propose a plan to IMO at its next meeting, set for spring 2017.
Dec 22 - Brittany Ferries Signs Letter of Intent for LNG-Powered Newbuild
"It will be one of the cleanest, most environmentally-friendly ships to operate in UK waters," says Brittany Ferries.
Dec 22 - Shipping faces threat from EU of unilateral levy on carbon emissions
The shipping industry faces the threat of paying a levy to the European Union on its greenhouse gas emissions as lawmakers from the bloc grow increasingly impatient with the slow progress being made by the global effort to tackle the issue.The industry, which accounts for around 90 percent of goods transported globally, has rejected unilateral moves by the EU, arguing it would distort world trade and instead wants the issue handled through the International Maritime Organization (IMO), the United Nation's shipping agency. Click here to read full stories.
Dec 21 - OPEC Threatens to Prolong Glut by Protecting Asian Customers
The bulk of the cartel's cutbacks are aimed at U.S. and European refiners.
Dec 21 - Industry Needs $55 Oil, but Alternative Energy Could Result in $10 Oil Within a Decade
$55 could be achieved with an OPEC cutback compliance of 75 percent, says Wood Mackenzie.
Dec 21 - Red Sea Player to Launch First Owned Bunker Barge
"She can supply simultaneously both IFO 380 cSt and both regular and Low Sulphur MGO," Red Sea Bunkering tells Ship & Bunker.
Dec 21 - Shipping Confidence Reaches 15 Month High: Moore Stephens
Moore Stephens says the average shipping confidence level in November 2016 was 5.6 out of 10.0 - the highest rating since August 2015.
Dec 21 - Skuld Advises Ship Operators to Utilise a Bunker Surveyors Amid New Singapore MFM Requirement
Skuld provided the advice noting the MFM system for bunkering is a "completely new practice" without documented challenges and solutions.
Dec 21 - Financing hitches could delay Hapag Lloyd, UASC shipping tie-up - sources
A merger of German container shipping line Hapag-Lloyd and United Arab Shipping Company (UASC) is likely to take months to complete, partly due to financing issues blamed on a deep industry downturn, sources familiar with the deal say.Hapag-Lloyd signed a binding agreement with UASC in July to form the world's fifth-largest line, valued at about 7 to 8 billion euros ($7.2-$8.3 billion), by the end of 2016.Click here to read full stories.
Dec 20 - Ocean Connect Marine Secures Arrest of Former Hanjin Chartered Vessel
Following efforts to recover $837,000 in unpaid bunker bills in the US, the vessel is understood to have been arrested in Sri Lanka.
Dec 20 - Oil Investor Optimism at Post Slump High, Based on Faith in Cutback Compliance
The optimism comes just as U.S. shale production threatens to disrupt the cutbacks.
Dec 20 - "Big OPEC Winner" Iran Expects Oil to Remain in $50-$55 Range
Meanwhile, analysts think 2017 could be a banner year for oil production in the Islamic republic.
Dec 20 - Captain and Crew of Monjasa Tanker Receive Lloyd's List Seafarer of the Year Award
"Monjasa's shipping department wishes to salute the captain and crew on M/T Accra," the company said.
Dec 20 - PBES and Høglund Marine to Partner on Hybrid and Fully Electric Vessels
The partnership agreement is said to highlight an ongoing "green shift" within the commercial marine industry.
Dec 20 - Mass Flow Meters in Singapore Proving to be Five Times More Accurate Than Official Error Margin
"In general the accuracy for bunkering with MFM is very good," Simon Neo, Executive Director, Piroj International, tells Ship & Bunker.
Dec 20 - Customs Seize 45,000 mt of Misdeclared Fuel Oil
Authorities have seized the "fraudulently imported" fuel oil as well as the tankers in which the fuel oil was loaded.
Dec 19 - 2017: A Critical Year for Ship Recycling
2017 will see significant decisions that could shape the future of the global ship recycling industry, says Dr. Nikos Mikelis of GMS.
Dec 19 - Standard Club Issues Reminder on China's Mandatory ECA Implementation
China's mandatory implementation of three ECAs covering the country's key ports will become effective January 1, 2017.
Dec 19 - LNG Bunkering Companies Included in South Korean Deal for Cooperation on Shipping
The agreement, signed by shipping, shipyards, bunkering, and finance companies, is intended to boost the domestic shipping industry.
Dec 19 - EU to Take Regional Action on Ship Emissions If IMO Fails to Act by 2021
The committee decided to include shipping emissions in EU's Emissions Trading Scheme from 2023 if IMO does not have a comparable system in place.
Dec 19 - Goldman: Oil in the High $50s All the Way to 2019
Goldman has also changed its mind about cutback compliance, now stating that it will be strong.
Dec 19 - More Bunker Companies Undergo Consolidation Efforts as the Industry Prepares for a Tough 2017
"The suppliers and traders who are acting now are making the right moves," an industry source tells Ship & Bunker.
Dec 19 - Baltic Dry Index Returns to Sub-1000 Levels
But Scorpio Bulkers President Robert Bugbee is among those who see better days ahead for Dry Bulk, as the market has gone "from really awful, to just awful."
Dec 16 - Proposed new capital rules threaten struggling shipping sector - bankers
The global shipping industry will hit a credit crunch if proposed new bank capital rules are implemented in a sector already weighed down by toxic debt, bankers involved say. The Basel Committee of banking supervisors from nearly 30 countries met in Chile last month in an effort to complete the new rules for lenders in the world's major financial centres. It is now trying to pin down the details.Click here to read full stories.
Dec 16 - Hyundai Merchant Marine forms tie-up with 2M alliance
Heavily indebted South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) said on Sunday it has agreed with the 2M shipping alliance to form a cooperative relationship that falls short of full-fledged membership. Joining an alliance with major shipping firms was one of the conditions of a debt restructuring deal between Hyundai Merchant Marine and its creditors in May, and the company said on Sunday that the tie-up with 2M met that criteria.Click here to read full stories.
Dec 16 - Beijing mulls ban on coal trucks, storage in Tianjin in smog fight
Beijing's environmental watchdog is considering a ban on the use of trucks to transport coal and closing coal storage facilities in Tianjin, one of China's busiest ports, a researcher with the agency said, in what would be a drastic move to tackle smog. The city's Environmental Protection Bureau has not made a formal proposal to the municipal government of Tianjin, Zhou Yangsheng, researcher with the agency told a coal industry briefing on late Monday.Click here to read full stories.
Dec 16 - Stormy weather in ports presses on Russian wheat prices
Russian wheat prices fell last week due to stormy weather in the country's ports and as global benchmarks dropped on forecasts of hefty world inventories and bumper crops, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent protein content for December supply were at $182 a tonne on a free-on-board (FOB) basis at the end of last week, down $2 from a week earlier, Russian agricultural consultancy IKAR said. Click here to read full stories.
Dec 16 - India seen facing tight wheat supply as Ukrainian shipments delayed
India could face tight wheat supplies in the weeks ahead as 400,000 tonnes of Ukrainian cargoes, booked for December, are expected to be delayed, traders said, just when the South Asian country was boosting stockpiles. India on Thursday scrapped its 10 percent import duty on wheat after droughts in the past two years depleted stocks and raised prices, a move traders said could lift overseas purchases to their highest in a decade. Click here to read full stories.
Dec 16 - New Caledonian miners seek to ramp up nickel ore exports to China
New Caledonia's nickel ore miners have applied to increase shipments to China after an environmental crackdown on Philippine mine supply this year has caused prices to spike, four sources familiar with the matter said this week. Two miners, Societe Metallurgique Le Nickel (SLN), owned by France's Eramet, and Societe des Mines de la Tontouta (SMT) have applied for permits to export more ore to China in 2017, the sources said.Click here to read full stories.
Dec 16 - Analyst, COO Foresee Major Drawdowns And Oil Surging To $70 In 2018
Pioneer Natural Resources isn't hedging much for 2018 in anticipation of good times ahead.
Dec 16 - Market Flat as Libya Reopens Oil Field And U.S. Shale Gears Up
However, Libya's return to production is viewed as gradual and fragile.
Dec 16 - COSCO Aims for Bunker-Savings through New Fleet Contract with Marorka
The two companies will work together to boost the energy and operational efficiency of COSCO's new build fleet, as well as other selected classes.
Dec 16 - THE Alliance Receives U.S. Approval
The approval enables the alliance agreement between MOL, NYK, K Line, Hapag-Lloyd, and Yang Ming to become effective on December 19, 2016.
Dec 16 - Petronas Mulling Expansion into LNG Bunkering
Petronas' LNG receiving terminal in Pengerang, Malaysia has been named as a potential location out of which to base the company's possible new activity.
Dec 16 - More Bunker Companies Undergo Consolidation Efforts as the Industry Prepares for a Tough 2017
"The suppliers and traders who are acting now are making the right moves," an industry source tells Ship & Bunker.
Dec 16 - Drop-In Biofuels Could Make Up to 10% of the Marine Fuel Mix by 2030: GoodFuels
Tighter regulation by the IMO, among other reasons, are cited for the expected increased use of such fuels.
Dec 15 - Industry Insight: Emissions Data Collection – IMO vs. EU
Julien Dufour, CEO, Verifavia Shipping, compares and contrasts IMO and EU's approaches to monitoring, reporting and verifying ship CO2 emissions.
Dec 15 - Hess CEO Predicts "New Chapter" of $60-$80 Oil
Other analysts think oil will remain at $55-$60 pending the verification of OPEC production cutbacks.
Dec 15 - Tight Avails at Taichung
CPC says it will be unable to take any new orders for fuel oil for delivery on or before December 20, due to low stock.
Dec 15 - OPEC Forecasts Market Rebalance In 2017 Despite Posting Massive November Output Numbers
Increased shale activity also causes concern for analysts.
Dec 15 - Kassinger: Scrubber Economics Are a "Slam Dunk"
For a ship consuming 1,000 mt per month, "I think the savings will actually be closer to $5 million per year," Rudy Kassinger tells Ship & Bunker.
Dec 15 - Update: Aegean Intends to Issue $150 Million Convertible Senior Notes
Aegean says it plans to use approximately $40 million of the net proceeds from the sale to repay a portion of the company's outstanding short-term debt.
Dec 15 - HMM pays heavy price after failing to join the 2M Alliance (AlphaLiner)
HMM’s rehabilitation suffered a major setback, as the Korean carrier could only secure arrangements with Maersk Line and HMM outside the 2M scope, as opposed to the full 2M membership that HMM and its main shareholder KDB had originally sought. Under a new ‘2M+H’ Strategic Cooperation’ agreement, announced on 11 December, HMM only managed to secure slots on 2M services under a new slot exchange and purchase scheme.
The new Maersk/MSC/HMM cooperation is scheduled to begin in April 2017, subject to regulatory approvals, for an initial period of three years. Under the agreement, HMM will purchase slots on the 2M routes connecting Asia with North Europe, the Mediterranean and the US East Coast, while continuing to operate Asia - US West Coast services on its own, with Maersk and MSC taking slots. Actual service details are to be disclosed early next year.
HMM will pay a heavy price for access to the 2M services. To start with, Maersk and MSC will take control of an unspecified number of vessels currently operated by HMM on the Asia - Europe and Asia - USEC routes. These ships will be operated and marketed by Maersk and MSC, with HMM relegated to the role of slot buyer.
HMM’s overall slot allocation could thus not be as high as initially expected, limiting the carrier’s ability to grow in the future. The HMM slots on the relevant routes are expected to be capped for the entire duration of the agreement.
In addition, Maersk and MSC will gain access to the Far East - USWC services operated independently by HMM.
Dec 15 - Maersk, DONG oil and gas merger talks stall over price - sources
Talks between shipping group A.P. Moller-Maersk and DONG Energy to merge their oil and gas business have stalled after the two Danish firms could not agree on a price, industry and banking sources said on Wednesday. The breakdown in talks aimed at creating a joint company worth more than $10 billion may open the door for other bids for DONG's operations, which it is spinning off as it moves away from fossil fuels to focus on offshore wind, the sources said. Click here to read full stories.
Dec 14 - Aegean Intends to Issue $100 Million Convertible Senior Notes
Aegean says it plans to use approximately $40 million of the net proceeds from the sale to repay a portion of the company's outstanding short-term debt.
Dec 14 - More Modest Market Gains Amidst Warning That Oil Prices Will Plummet If Cutback Deal Compliance Is Lacking
The IEA reminds the market that OPEC agreed to slash production while members pumped at record volumes.
Dec 14 - IEA Predicts Supply Deficit But Warns That Next Few Weeks Are "Crucial" For Those Supporting OPEC Cutback Deal
The agency concedes that the deal might not be fully implemented.
Dec 14 - First Dry Bulk, Then Box Carriers - Now Poten & Partners Warns of Looming Tanker Market Woes
Writing in its latest Tanker Opinions, the consultancy says that, for 2017, the sector faces an all too familiar story of too many ships and not enough demand.
Dec 14 - Industry Insight: Success Demands a Greater Effort
While 2016 has been challenging for owners and operators, Larry Rumbol of Parker Kittiwake says IMO's 2020 decision has added cat fines to the agenda.
Dec 14 - Singapore Records Another Huge Month of Bunker Sales
Singapore's trailing twelve-month bunker sales total now stands at 48.7 million mt.
Dec 13 - Performance Monitoring "In Vogue" Alongside New ISO 19030 Standard: Jotun
The comment came at a recent seminar hosted by DNV GL and Jotun, which focused on the new standard for hull and propeller performance measurement.
Dec 13 - Crude Hits 17 Month High, Analysts Say Bigger Gains Could Follow
Nigeria is hoping oil will settle at the $60 range.
Dec 13 - OPEC Deal Could Cut Glut in Half - but Critics Think It's "Unsustainable" and Will Benefit U.S.
The IEA predicts that shale's recovery will begin in January.
Dec 13 - Estonia's Mõntu Harbour Signs Agreement for the Development of New LNG Bunkering Centre
The centre is set to include a 5,000 cbm capacity floating LNG storage facility, as well as a berth for vessels to be bunkered by a 1,300 cbm tanker.
Dec 13 - Maersk Fluid Technology Updates Blending-on-Board System for Mobile Use
The system enables the crew on board the vessel to blend an engine-specific fit-for-purpose cylinder lubricant.
Dec 12 - Oil traders prepare flotilla to ship U.S. exports to Asia
Oil traders and major producers are lining up a flotilla of carriers to ship more U.S. crude to Asia in December than in nearly two decades as higher prices, supported by OPEC's proposed supply cuts, offer a rare opportunity to boost sales to the region. A 40-year U.S. ban on crude exports was lifted in 2015 but only a few cargoes have shipped during a global glut in supply. The Organization of the Petroleum Exporting Countries last week agreed to its first supply cut in eight years as the cartel sought to end the two-year glut.Click here to read full stories.
Dec 12 - Saudi Prepared to Reduce Oil Output Even More Than Pledged as Market Eyes $70 Oil
Saudi energy minister Khalid Al-Falih says that "with absolute certainty" it will "cut substantially to be below the level that we have committed to."
Dec 12 - Crude Prices Jump Over 4% After Non-OPEC Members Agree to Cut Oil Production
Bunker buyers should expect firming fuel prices after eleven non-OPEC producers pledge to make production cuts totalling 558,000 bpd.
Dec 12 - HFO Spill During Bunkering Operation at St Petersburg
The spill is reported to have been the result of a damaged hose.
Dec 12 - No Rush to Install Scrubbers, Says Oak Maritime Director
Jack Hsu of Oak Maritime - Hong Kong, says install costs as well as debate over what to do with scrubber residues are among shipowner considerations.
Dec 12 - Ship Owners: Worst is Over for Dry Bulk
The Baltic Dry Index, which has been on a steady decline for the past week, fell 32 points on Friday to close out the week at 1090.
Dec 09 - Singapore Fuel Oil Imports Grow Alongside Weakening European Demand
Italy-based shipbroker Banchero Costa says Singapore's fuel oil imports increased 9 percent year on year during the first nine months of 2016.
Dec 09 - NTU Singapore Launch New Lab to Support Bunker Efficiency Research
The lab will also be used to help shipping companies better prepare for tighter emissions regulations to be implemented in 2020.
Dec 09 - Hempaguard Helps Neptune Lines to Bunker Savings and Emissions Reductions
Neptune Lines applied Hempaguard X7 hull coating to its PCTC Neptune Dynamis in 2012.
Dec 09 - Qatar/Glencore/Rosneft Deal Heralds Revitalized OPEC Influence Via Ties With Russia: Analysts
OPEC's bond with Russia tightens to the surprise of many onlookers.
Dec 09 - 2GO Looks to Solar Power, Hull Coatings to Cut Bunker Bill
The company is also examining the possibility of using LNG bunkers to power its fleet.
Dec 08 - US Residual Bunker Sales Fall 12.7% in 2015, Distillate Sales Jump 51%
EIA data shows marine accounted for 4.0 percent of the total U.S. distillate market in 2015, up from 2.6 percent in 2014.
Dec 08 - GAC Highlights Bunker Savings from GAC-SMHI Weather Solutions
SMHI's ensemble forecasts are noted to provide as many as 50 estimates on the impact weather could have on both speed and fuel consumption.
Dec 08 - UAE Says Non-OPEC Producers Need to Commit to Oil Cuts, Analyst Says Russia Cutting 300,000 Barrels Is a Joke
So far Russia and Oman are the only two non-OPEC producers who have committed to making any output cuts.
Dec 08 - "Cat and Mouse" Game Between U.S. And OPEC Commences Now That Honeymoon Over Cutbacks Is Over
Meanwhile, BP kicks of a potential wave of cheap U.S. crude shipped to hungry Asian customers.
Dec 08 - Alphaliner: Idle Box Ship Capacity "Stubbornly High"
Data from Alphaliner shows there was 1.504 million TEU of idle capacity within the above 500 TEU container ship fleet as of November 28.
Dec 08 - Worst over for dry bulk shipping, recovery still fragile - owners
The worst is over for the dry bulk shipping sector, after years when too many ships chased too little cargo, yet the extent of the lost business means a full recovery is still some way off, leading ship owners said on Wednesday.Dry bulk shipping, which transports commodities including coal, iron ore and grain, has been among the worst performing shipping segments in recent years, partly due to worries over the health of top industrial goods importer China. Click here to read full stories.
Dec 07 - Gard Issues Alert on California's Updated At Berth Emission Regs
From January 1, vessels will be required to use shore power and reduce emissions by 70 percent while at berth at a California port.
Dec 07 - Study for T&E Finds Shipping Emission Growth Could Counter European Reduction Efforts
The new study by CE Delft suggests 43 percent fuel savings achieved by land transport will be undone by ships and planes.
Dec 07 - ABB's Zero-Emission Ferry Project "Gathering Pace"
Öresund Dry Docks has been selected to construct a shore side charging arm to provide power the two HH Ferries' vessels after their conversion.
Dec 07 - Andurand Sees Return to $70 Oil Based on Good Faith from OPEC and Rapidly Diminishing Supply
He also thinks Russia will abide by the cutback deal because it was endorsed by Vladimir Putin.
Dec 07 - Tight Supply, Good Demand Expected for Hong Kong in December
The situation is a result of several factors.
Dec 07 - New Study Suggests 2020 Global Sulfur Cap Could Increase CO2 Emissions Attributable to Shipping
"This report brings a whole new way of looking at how we calculate the emissions from shipping," the paper's author Gustav Krantz tells Ship & Bunker.
Dec 07 - Bomin Says New Office Closures Support Regional Hub Structure, Positioning for 2020
Bomin is closing its offices in Rio de Janeiro, Tallinn, and Madrid, as well as its physical supply operations in Estonia and Spain.
Dec 07 - Court Lifts Name Ban in "Danish Bunker Fraud" Case
A court order previously prevented the publication of the supplier's name.
Dec 07 - Ukraine's Kernel to build new Black Sea export terminal
Ukrainian agricultural company Kernel plans to build a new Black Sea export terminal with a capacity of 4 million tonnes per year, news agency Latifundist reported on Tuesday citing the head of Kernel's board of directors. The terminal is due for completion in 2018 and will be built in the southern region of Odessa, Kernel's Andriy Verevsky told Latifundist.Click here to read full stories.
Dec 06 - Shipowners Should Not Underestimate 2020 Low Sulfur Bunker Costs, Warns Nick Confuorto of CR Ocean Engineering
"Even a few remaining years for a vessel can make sense and produce overall savings." Confuorto tells Ship & Bunker.
Dec 06 - OPEC in Output Cut Talks With Wider Non-Member Producers, but Analysts Remain Skeptical
The market is also concerned about potential rise in U.S. shale production.
Dec 06 - Bunkering Operation Halted Moments Before Collision
Happy Eagle is said to have been in the midst of the bunkering operation when a crewman noticed FT Foce's approach.
Dec 06 - US Shale Will Rebound in 2017: Analysts
Some observers go so far as to describe the OPEC cutback deal as a surrender of power to the U.S.
Dec 06 - P&I Club Warns on Substantial Changes to Singapore Bunkering Procedures
Safety Management System bunkering procedures and associated checklists will require modification in light of the new requirements, notes West of England.
Dec 05 - Vladivostok Bunker Sales Continue Decline
Total sales during the period amounted to 343,000 tonnes, with approximately one third of that volume sold at the offshore terminals.
Dec 05 - BPO Highlights Support for "Eco-Friendly" Solutions for ECA Compliance
"The Baltic region has shown remarkable ingenuity and determination when confronted with the strict SOx limits in ship fuels," says BPO.
Dec 05 - Crowley's Puerto Rico Services Join Energy Efficiency Partnership
The SmartWay Transport Partnership is a collaborative effort between U.S. EPA and industry players.
Dec 05 - Derecktor to Build Zero Emission Food Transportation Vessel
The Organic Market Delivery Vessel will be able to travel emission-free on a lithium battery component for approximately 3 voyage hours without recharge.
Dec 05 - ABB Highlights Battery-Powered Ferry
ABB has released a video detailing the Onboard DC Grid system that enables Norway's Vision of the Fjords to run on battery power.
Dec 05 - Bunker Regulations Will Only Follow "What Scrubbers are Already Doing"
Scrubbers are "removing much of the soot and the unburned oil which are not yet regulated," Nick Confuorto tells Ship & Bunker.
Dec 05 - Zim Upbeat on Improved Performance, but Still in the Red
ZIM reports a net loss of $37.6 million in 2016 Q3, compared to a $11.1 million profit during same period of 2015.
Dec 02 - Bunker Prices Surge to 16 Month Highs, Break $300/mt in the Primary Ports
Bunker buyers should nevertheless expect continued volatility as we head into 2017.
Dec 02 - Crude Benchmarks Rise Another 5%
Bunker prices were again firmer in the primary ports.
Dec 02 - Shortage in Compliant Bunkers to Be Expected in 2020, Says Aegean GM
"The sulfur change will undoubtedly bring some novelties in the bunkering world," says Aegean's general manager, Gregory Robolakis.
Dec 02 - Weekly Vessel Scrapping Report: 2016 Week 47
Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from November 24 – November 30, 2016.
Dec 02 - APT Takes Delivery of Newest LNG-Ready Product Tanker
American Endurance is the first of four next generation LNG-ready product tankers being built for American Petroleum Tankers by Philly Shipyard.
Dec 02 - World Fuel Services 2020 Vision: Preparing for the New Global Sulphur Cap
Preparing for 2020 will be a costly business; and for companies that get their strategy wrong, it will be a very costly business indeed.
Dec 01 - Bargain prices, rising cargo rates lift second-hand ship sales from the shallows
Sales of second-hand ships used to haul commodities such as iron ore, coal, grain and fertiliser have hit a seven-year high in 2016 as the industry creeps out of an eight-year downturn that has sunk several fleets of shippers.Seaborne transport, which accounts for 85 percent of global trade, has seen a tentative recovery in the rates shippers charge to carry dry-bulk cargoes, which has encouraged buyers to jump at the bargain prices for second-hand vessels. Click here to read full stories.
Dec 01 - Hyundai Merchant Marine preferred bidder for Hanjin Shipping's Spain terminal
South Korea's Hyundai Merchant Marine Co Ltd (HMM) said on Friday it was chosen as preferred bidder to buy a port terminal in Algeciras, Spain, partly owned by Hanjin Shipping Co Ltd. HMM said in a statement it is expected to finalise its purchase of a 100 percent stake in Total Terminal International Algeciras in late December from the current owners, including IBK Securities Co Ltd, without elaborating on price or other sales terms.Click here to read full stories.
Dec 01 - Australia's Newcastle port coal terminal suspends operations after fire
Port Waratah Coal Services (PWCS), operator of Australia's Newcastle port, said on Friday it has temporarily suspended operations following a fire incident. A fire broke out on a conveyor system at PWCS' Kooragang Terminal, it said in a statement on its website. The conveyor system was not operating at the time.Click here to read full stories.
Dec 01 - Saudi Said To Have Won Big On Cutback Agreement, But Skeptics Warn That Deal Has Yet To Be Honoured
Deal is seen as Saudi victory because it will facilitate their sale of Saudi Aramco.
Dec 01 - Lucien Wong to Step Down as MPA Chairman
Wong, who will be succeeded by MPA deputy chairman Niam Chiang Meng, is set to become Singapore's next attorney-general.
Dec 01 - Cyprus Sees 12% Growth in Year to Date Bunker Sales
Cyprus government data shows bunker fuel sales for the first 10 months of the year amounted to 228,004 metric tonnes.
Dec 01 - Oil Jumps 9% on Surprise OPEC Ratification, But Number Crunchers Think Production Will Rise Anyway
Analysts worry that 2017 could be another year of global supply growth due to non-OPEC production and non-compliance.
Dec 01 - FESCO Bunker Revenue Falls 84.9% on "Significantly" Reduced Operations
The company says its consolidated revenue also decreased by 27.1 percent year on year due to its reduction in bunkering activity.
Nov 30 - Mandatory Singapore MFMs Prompt "Many Enquiries" for the TR48 Accredited Technology at Other Ports
In the coming years, "the industry will see more independently accredited tankers in accordance to TR48:2015, in different ports around the world."
Nov 30 - Carbon War Room Announces Launch of New Free Ship Operational Efficiency Portal
Carbon War Room, exactEarth, and UMAS have launched the free-to-access BetterFleet on ShippingEfficiency.org.
Nov 30 - OPEC Cutback Deal Now Needs "Rescuing" At 11th Hour; Fear That Prices Will Plummet
The Saudis and Iran are reportedly at loggerheads over a 200,000 barrel discrepancy.
Nov 30 - Vienna Deadlock Causes Crude To Drop 4%, Saudis Taking Increasingly Hard Line In Cutback Talks
The kingdom insists that all players participate in the cutback save for Nigeria and Libya.
Nov 30 - IEA Highlights Refiner and Shipper Challenges Expected from 2020 Sulfur Cap
Bunker fuel refiners will have to increase supply of lower sulfur blendstocks and decide what to do with higher sulfur residual oil that can no longer be blended.
Nov 29 - Tata Steel, Thyssenkrupp looking at reducing Port Talbot's capacity
Tata Steel and Thyssenkrupp are looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales, industry sources said, as the two firms press ahead with plans to merge their European steel operations and deal with the overcapacity afflicting the industry. The move could see one of Port Talbot's two blast furnaces shut, halving the plant's capacity. Up to 4,000 people are employed at the site. Click here to read full stories.
Nov 29 - BRS: Scrubbers "Uneconomic" for Older Vessels
With future legislation expected to address NOx and PM, "there is little certainty that scrubbers can clean emissions to future compliance levels," says BRS.
Nov 29 - Bunker Jobs: Chief Executive, International Bunker Industry Association (IBIA)
The role will be London based but involves some travel, and reports to the IBIA board.
Nov 29 - Oil Cutback Prospects Grow Increasingly Dim, Kilduff Speculates The Saudis Could "Produce Full Out" And Force Compliance
Meanwhile, last minute talks to encourage compliance produce no tangible results.
Nov 29 - Oil in the $20s, Bunkers in the $100's Is the Price of Failure as the Countdown Begins for OPEC's Cutback Summit
"I wouldn't be surprised if we see $20s again." says Amrita Sen, chief oil analyst at Energy Aspects.
Nov 29 - Poseidon Med II Works Toward Greek National Regulatory Framework for LNG Bunkers
The Poseidon Med II held a workshop in October to discuss the development of a regulatory framework for the use of LNG as marine fuel.
Nov 29 - Bargain prices, rising cargo rates lift second-hand ship sales from the shallows
Sales of second-hand ships used to haul commodities such as iron ore, coal, grain and fertiliser have hit a seven-year high in 2016 as the industry creeps out of an eight-year downturn that has sunk several fleets of shippers. Seaborne transport, which accounts for 85 percent of global trade, has seen a tentative recovery in the rates shippers charge to carry dry-bulk cargoes, which has encouraged buyers to jump at the bargain prices for second-hand vessels. Click here to read full stories.
Nov 28 - Bunker Supply Chain Needs Significant Infrastructure Investment for 2020 Cap: BRS
As well as the construction of new bunker barges, BRS says the new cap could mean storage tanks being reconfigured to hold clean products instead of fuel oil.
Nov 28 - Prepare for Soaring Prices For "Fuel of Choice" MGO in 2020: BRS
The new report by BRS' Tanker Department also concludes that consumers with the least ability to pay increased prices could be squeezed out of the market.
Nov 28 - 0.50% Global Sulfur Cap to Be Met With "Limited" Large Scale Non-Compliance: Report
The report by BRS' Tanker Department suggests that enforcement could be conducted at port though bunker note inspections.
Nov 28 - OPEC Focusing Pre-Vienna Diplomacy on Iran, Russia - Which Is Holding Firm on a Production Freeze, Not Cut
Russia's unwavering stance could cause trouble at the November 30 summit.
Nov 28 - Oil Drops 4% as Saudis Abandon Non-OPEC Oil Meeting
Many other signs point to a dismal November 30 Oil Cutback summit.
Nov 25 - NORD/LB Expects More Than €1 Billion Loss Through Ship Finance
Further, risk provisioning is said to above average in the fourth quarter, and is expected to come in "considerably above" €2 billion for the 2016 year.
Nov 25 - Panamanian Ports Shutter Operations on Approach of Hurricane Otto
Balboa and Cristobal anchorages are noted to be experiencing delays.
Nov 25 - 0.5% Global Sulfur Cap Will Benefit Well Capitalised Bunker Suppliers: Aegean
The new cap "will have a positive impact on our business," says Aegean President E. Nikolas Tavlarios.
Nov 25 - Shell Marine Updates Mobile App to Include Lube Reporting
The company notes its lube products are also available at new ports across Australia, China, Europe, Philippines, and Saudi Arabia.
Nov 25 - Weekly Vessel Scrapping Report: 2016 Week 46
Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from November 17 – November 23, 2016.
Nov 24 - Shipping stocks rally reverses after capital raise, earnings news
Most shipping stocks pulled back from their eye-popping rally on Thursday after Dryships Inc announced that it raised capital through a share sale and other companies reported results that missed expectations. Shipping stocks had risen dramatically in recent days, including a roughly 1,500 percent jump for Dryships, as investors reacted to shipping rate increases and the prospect that U.S. President-elect Donald Trump's policies could further boost demand for shipping of commodities. Click here to read full stories.
Nov 24 - Brazil's Suape new sugar terminal loads first ship
Brazil's new sugar terminal at the port of Suape in the state of Pernambuco will load its first ship on Friday, opening a new export corridor for mills in the Northeast at a time of strong demand for the sweetener. The Suape Sugar Terminal (TAS) was built by the Agrovia do Nordeste consortium, which is controlled by the logistic arm of Brazilian engineering conglomerate Odebrecht and by transportation firm Agrovia. Click here to read full stories.
Nov 24 - Foreign firms to build $315 mln Vietnam port complex
Vietnam has approved a foreign consortium's plan to invest around $315 million in a seaport and industrial zone complex in northern Quang Ninh province, the government said on Saturday. The licence was handed on Friday to the consortium including CDC International Corp from Cayman Island, Asia Infrastructure Development Co from Hong Kong and Singapore's Tien Ich Trung Dong Co, said in a report on the government's website. Click here to read full stories.
Nov 24 - Oil spice: With $3 bln port, Malacca eyes slice of shipping giant Singapore's pie
Once at the heart of the global spice trade, Malacca is pumping nearly $3 billion into an ambitious plan to put itself in demand in a different hot commodity - oil. The Malaysian state is reclaiming land along the Straits of Malacca to build a port that can handle the biggest tankers on the planet. The target: a slice of traffic sailing on to nearby Singapore, the top but congested trading hub in a region with $600 billion in annual oil trade - a third of global oil demand. Click here to read full stories.
Nov 24 - Neste to Distribute Low-Sulfur Bunker Fuel in Sweden form January 1, 2017
"To us, this means expanding the market area of marine fuels," says Matti Lehmus, Executive Vice President, Oil Products at Neste.
Nov 24 - Idle Box Ship Capacity Falls Back From Record Highs: Alphaliner
As of November 14, the number of idle container ships of above 500 TEU is said to have fallen from a record high of 1.59 million TEU to 1.49 million TEU.
Nov 24 - OPEC Deal Expected, but Doubts of Its Efficacy Cause Oil Prices to Drop
Widespread indications suggest next week's OPEC summit will be a bust.
Nov 24 - Vienna Will Result in $38-$60 Oil, No Change in the Glut, and More Volatility next Year: Analysts
The Saudis reportedly are aiming for $50 to facilitate their sale of Saudi Aramco.
Nov 24 - Arrested Bulk Carrier Put Up for Auction in Singapore
The Panamax bulk carrier Trident Challenger was arrested in September.
Nov 23 - Canadian Companies Look for Opportunities Amid Tightening Bunker Regs
Field Upgrading, which plans to turn bitumen into ultra-low sulfur bunkers, is noted to be just one of those many companies.
Nov 23 - Gasfuelled Ships Conference Points to Increased Momentum for LNG Uptake
The Motorship's Gasfuelled Ships conference is noted to have hosted discussion that suggested the "tide is turning" for LNG.
Nov 23 - New TRACE, RightShip Partnership Aims to Reduce Charterers' Exposure to Bunker Fraud
"Unfortunately, the vast majority of bunker fraud incidents go unreported," TRACE's Katya Lysova tells Ship & Bunker.
Nov 23 - Crude Prices Edge Up
Bunker prices were firm to start in the primary ports.
Nov 23 - Ship Officer Given Eight Month U.S. Prison Sentence Related to Oily Waste Dumping
In addition to the prison term, Girolamo Curatolo was also given a sentence of one year of supervised release and ordered to pay a fine of $5,000.
Nov 23 - Hydrogen Gas "Will Replace Diesel in a Marine Industry that is Forced to Reduce its Emissions"
PowerCell and Swiss Hydrogen have partnered to install and develop a hydrogen fuel cell system on a ship that will be powered by photovoltaics.
Nov 22 - Glander International Bunkering Mumbai Moves to New Office
The bunker broker and trader says the move will bring it closer to its customers.
Nov 22 - Wee Tiong Acquires 11 Bunkering Vessels from Former Singapore Supplier Searights
The move was said to be the result of a "serendipitous meeting of minds" between the two parties in September.
Nov 22 - New Customs Regs Could Hit Piraeus Bunker Demand
Ships working cargo are not included under the rule, but bunkers only calls could be affected.
Nov 22 - Angelicoussis: "No Question" Trump Presidency Will Be Positive for Shipping
Shipping magnate, John Angelicoussis, says a Trump presidency will be positive for the industry in terms of infrastructure expansion.
Nov 22 - HMM's Potential 2M Membership in Question Following Seemingly Conflicting Reports
The parties have "decided to look at other co-operation possibilities" with HMM, says Maersk Line.
Nov 22 - Invest in LNG-Ready New Builds, or Risk Being Put at a Competitive Disadvantage: Titan LNG
Vessels could be forced out of certain trading areas due to non-compliance with future legislation, Titan LNG's Michael Schaap tells Ship & Bunker.
Nov 22 - Smuggled Bunkers Linked to Deadly Tanker Explosion
Pakistani authorities say beached vessels provide an opportunity for petroleum products to be smuggled into the country.
Nov 21 - OPEC Asks Iran To Cap Production At 3.92 Million bpd In Bid To Ensure Cutback Deal Success
No word yet if the Islamic republic, which previously indicated it would freeze at 4.0 million bpd, will accept.
Nov 21 - "Virtual" LNG Pipeline Could Help LNG "Move Forward" as Marine Fuel: AG&P
The company says it is mulling a plan that would see the development of a range of small LNG carriers to deliver the fuel to smaller locations.
Nov 21 - Petronet Looks to LNG-Powered Vessels for Demand Growth
Shri Prabhat Singh, Petronet LNG's Managing Director and CEO, says he anticipates a shift to LNG-driven vehicles to generate "reasonable demand."
Nov 21 - Carl Büttner Shipmanagement Selects Bilfinger Flue Gas Cleaning System for Environmental Compliance
The scrubber system, which is being installed on the tanker Aurelia, is produced by Bilfinger subsidiary Babcock Noell.
Nov 21 - Lower Bunker Prices Help CMA CGM Keep "Tight Rein" on Q3 Costs
CMA CGM says it achieved $4.47 billion in revenue during the period, an almost 34 percent year on year increase.
Nov 21 - Petro Inspect Launches New US-Based Operation
Mr. Ahmad Ebrahem as the Operations Manager / Chief Surveyor of Americas region.
Nov 21 - Bunker Jobs: Experienced Bunker Traders & Brokers in Cyprus, Greece and the UK
We would also welcome applications from candidates in other geographical locations.
Nov 21 - Crude Up On Positive Cutback Rumours - But OPEC Omits Details About How It Will Win Over Reluctant Members
Algeria says 11 members are ready to ratify the deal.
Nov 18 - No light at the end of the tunnel for panamax ships (AlphaLiner)
Since the opening of the new Canal locks on 26 June, no fewer than 120 classic panamax ships, referring to vessels of 4,000-5,300 teu on a 13 row/32.30 m beam, have been displaced from trans-Panama routes. The exodus is set to continue, with a further 30-40 classic panamaxes to be removed from the trade over the coming months. Total redundancies of vessels in the aforementioned size range are expected to reach 150-160 units by the end of Q1 2017.
Non operating owners (NOO) bear the brunt of these redundancies, as carriers keep re-delivering charter vessels at an unprecedented pace. As a result, NOO units form the bulk of the 4,000-5,300 teu vessel idle pool. In spite of 50 sales for scrap so far this year, the count of unemployed classic panamax ships currently reaches 96 units, 30 of which anchored at long term lay-up spots in Asia.
In the light of this situation, over 100 more classic panamaxes would need to be scrapped in the coming months to re-balance supply and demand, and reduce the total pool - including active and idle ships - to less than 470 units, compared to 670 units four years ago. Only such a drastic reduction could elevate rates from their current all-time lows of $4,200 - 4,500 per day, with positive side effects on the 2,700 - 3,800 teu size bracket as well.
Hard decisions have to be taken, such as scrapping ten year ‘old’ ships on the eve of their second Classification Special Survey. Since many cash-short owners can’t afford the survey-related costs, such vessels are being laid up, sold for scrap, or sold to bargain buyers at distressed prices. Some owners might also be tempted to wait for a hike in scrap prices, which currently hover at only $300 per ton, compared to more than $500 in 2008 and 2011.
Nov 18 - Hyundai Heavy to be split into 4 firms as part of restructuring plan
South Korea's Hyundai Heavy Industries is beingsplit into four companies, with its non-shipbuilding businesses being spun off to improve management efficiency and competitiveness, the shipbuilder said on Tuesday. South Korean shipbuilders have been selling non-core assets and slashing jobs to cope with shrinking orders from the oil industry that forced the firms into heavy losses last year. South Korea is home to the world's three largest shipbuilders - Hyundai Heavy, Daewoo Shipbuilding & Marine and Samsung Heavy Industries Co Ltd. Click here to read full stories.
Nov 18 - Taiwan offers to lend local shippers $1.9 bln
Taiwan's government said on Wednesday it will offer to lend struggling local shippers NT$60 billion ($1.9 billion) at below-market interest rates, to help them cope with the industry's worst downturn. "The global shipping industry is going through a tough time. These loans are part of the government's efforts to help local shippers," said Yeh Hsieh-lung, a deputy director general of Ministry of Transportation and Communications (MOTC). Click here to read full stories.
Nov 18 - Hapag-Lloyd to win conditional EU okay for UASC deal - sources
German container shipping line Hapag-Lloyd is set to secure EU antitrust approval for its merger with United Arab Shipping Company (UASC) after the latter agreed to pull out from some vessel sharing agreements, two people familiar with the matter said on Tuesday. The combined company, valued at about 7 to 8 billion euros ($7.5-$8.6 billion), would be the world's fifth largest shipping company, with access to the Asia to Europe trade route and trans-Atlantic and trans-Pacific routes. Click here to read full stories.
Nov 18 - German shipping bank DVB to seek capital increase
German shipping bank DVB said on Monday it will seek a capital increase after write-downs on bad loans pushed the lender to forecast an even bigger net loss for 2016. German shipping banks, already struggling to recoup tens of billions of dollars of loans due to a global shipping industry slump, have also been hit by slowing growth in China and sluggish global trade. These banks are believed to be behind up to a quarter of the world's $400 billion of outstanding shipping loans. Click here to read full stories.
Nov 18 - Pakistani PM welcomes first large Chinese shipment to Gwadar port
Pakistan's prime minister and army chief welcomed on Sunday the first large shipment of Chinese goods through the renovated port of Gwadar, part of a trade link between western China and the Arabian Sea. The deep-water port in Pakistan's southwestern province of Baluchistan is key to the $46 billion China Pakistan Economic Corridor (CPEC) that also encompasses roads and energy projects.
Nov 18 - Container Market Consolidation Means Bunker Market Contraction, Tolson Warns
"2017 promises to be a difficult year for those trying to repeat 2016 sales volumes," says the 20|20 Marine Energy Senior Partner.
Nov 18 - Petro Inspect Launches New Operation in Brazil
Mr. Gilson Riberio has been appointed as the Operations Manager / Chief Surveyor of Brazil and South Americas region.
Nov 18 - Trump's Iran Stance Plus Ongoing Woes in Venezuela and Nigeria Weigh Heavily on Oil Market
Still others think Trump will adopt a more diplomatic stance once he assumes office.
Nov 18 - Saudis Boost Exports But Insist OPEC Members Should Cut Output to Low End of Deal Target
Meanwhile, talks with Iran and Iraq continue to include them in deal with special favours.
Nov 18 - Dry Bulk "Has Gone Bananas" Says Analyst, as Baltic Dry Index Surges to New 23 Month High
The Baltic Dry Index gained 86 points Thursday to finish at 1231, the highest the index has been since November 26, 2014.
Nov 18 - Taiwan's Struggling Container Sector to Receive $1.9 Billion in Government Support
The package is said to include a credit line that will provide preferred interest rates for the country's container carriers.
Nov 17 - Aegean Reports Another Big Jump in Bunker Sales Volume
Sales volume for the 3 months ended September 30, 2016 was 4,258,954 metric tonnes.
Nov 17 - OPEC Makes Final Diplomatic Push With Russian Support But Without Iran and Iraq Ministers Before Vienna Summit
J.P. Morgan gives the talks a 75 percent chance of success.
Nov 17 - IEA: Oil Demand Good Until 2040, But It Will Be a Bumpy Boom And Bust Ride
The IEA executive director also thinks oil producers have nothing to fear about the Paris accord.
Nov 17 - Kongsberg Maritime to Work with Klaipedos Nafta on Small Scale LNG Bunkering Under New MoU
The MoU is said to be intended to facilitate the sharing and development of expertise in the field of LNG terminals.
Nov 17 - Grimaldi Gleans "Significant" Bunker and CO2 Emissions Savings from Hull Coating
Grimaldi is said to have had Hempel's Hempaguard X7 and Hempasil X3 silicone hull coatings applied to the hulls of more than 30 vessels since 2011.
Nov 16 - Wärtsilä Defends GHG Credentials of LNG Bunkers
The comments come in response to Ian Adams' recent suggestion that LNG bunkers could actually be worse for the environment than burning HFO.
Nov 16 - Glander International Bunkering Expands in Norway
Andreas Maierhofer has been appointed General Manager of the new Oslo office.
Nov 16 - Chemoil "Sets New Standards" in Fujairah and Khorfakkan with LR accredited Mass Flow Meters
"Lloyd's Register is proud to assist Chemoil in its drive to continuously improve the accuracy of its measurement techniques," said LR's Douglas Raitt.
Nov 16 - Container Market Consolidation Means Bunker Market Contraction, Tolson Warns
"2017 promises to be a difficult year for those trying to repeat 2016 sales volumes," says the 20|20 Marine Energy Senior Partner.
Nov 16 - DNV GL Warns on Potential for LNG Bunker Quality Issues Leading to "Engine Damage and Failure"
"The consequences of mismatching fuel quality to a specific ship engine can cause potentially dangerous effects," says DNV GL Senior VP Liv Hovem.
Nov 15 - OPEC Reports Record Oil Output as 2017 Surplus Fears Grow
IEA has also suggested the glut could last through 2017, having raised its forecast for non-OPEC output growth next year.
Nov 15 - Hamm Wants Trump to Slash Oil Regulations as Oklahoma Now Faces "Regular" Fracking Related Earthquakes
Trump's vow to reinvigorate the U.S. oil industry is also causing worry among analysts.
Nov 15 - Silverstream Says Latest Order Highlights Industry Pressure for Bunker Savings
Silverstream says it has signed a contract to retrofit its air lubrication technology on a major cruise line's vessel.
Nov 15 - Crude Benchmarks Make a Depressed Start to the Week
Bunker prices were soft during the morning hours but firmed up as the close approached.
Nov 15 - ISS Advises of New Zealand Port Interruptions Following Earthquake
The interruptions come after a 7.5 magnitude earthquake, which struck the upper South Island of New Zealand at midnight local time on November 14.
Nov 14 - Build in Floating Storage Seen as Another Sign That Market Rebalance May Not Be Forthcoming
However, the build is still less than a 105 million barrel peak last June.
Nov 14 - Yara Scrubbers to "Future Proof" Four North Sea Container Vessels
Yara says it will supply the scrubber systems to four container feeder vessels, set to be operated by German ship manager Jüngerhans.
Nov 14 - Brazilian Ports See Sharp MGO Price Drop Resulting From New Petrobras Pricing Policy
Petrobras' decision is said to come as a result of a fall in international oil prices since October.
Nov 14 - Gibraltar Port Joins SGMF
The Chief Minister says he is "delighted to see the port playing its part in this exciting development in the shipping world."
Nov 14 - ABB Signs Green Ship Agreement with Chinese Yard
ABB says the agreement with Wuchang Shipbuilding will enhance the two companies' cooperation on the development of "greener," energy efficient ships.
Nov 14 - Baltic Dry Index Breaks 1000 for the First Time in Over a Year
The Baltic Dry Index rose 71 points Friday to reach 1045, the highest it has been since August 2015.
Nov 14 - Shipper to Appeal After Judge Dismisses Claim Bunker Supplier "Abused its Dominant Position" in the Market
Finnlines wants €2.76 million in compensation, which is "the price difference between the paid amount for the supplied fuel and the market price."
Nov 11 - Norwegian's Bunker Expense Declines Almost 3% Year on Year for 3Q 2016
Bunker spending for 3Q 2016 was $86.250 million, compared to $88.829 during the same period of 2015.
Nov 11 - Genoil Announces $50 Billion LOI for Desulfurised Fuel Project in Russia
The project is said to cover the production of 3.5 million barrels per day.
Nov 11 - Crude Soft, OPEC Output at Record High
Bunker prices were softer in the primary ports.
Nov 11 - Weekly Vessel Scrapping Report: 2016 Week 44
Have you sold bunkers to a recently scrapped vessel ? Check here with VesselsValue.com's demolition sales from November 3 – November 9, 2016.
Nov 11 - Maxcom Beings Sales of ECA-Compliant RMD80 at German Ports
Maxcom says the new offering will be priced approximately $25/mt less than DMA.
Nov 10 - Bank of Ireland still winding down shipping loan business
Bank of Ireland said it is still winding down its shipping business, among a number of banks looking to cut non-core lending and exposure to an industry suffering its worst downturn. Many European banks are already bogged down by a sluggish economy and face tough capital demands from regulators which are eroding profitability, leaving many looking for ways to shore up their balance sheets.Click here to read full stories.
Nov 10 - Egypt raises rates on Suez Canal certificates to 15.5 pct
Egypt raised interest rates on five-year investment certificates in its New Suez Canal project to 15.5 percent, the finance ministry said on Sunday. The five-year investment certificates were sold in 2014 to fund a major expansion to the Suez Canal and had a 12 percent interest rate, paying quarterly dividends.Click here to read full stories.
Nov 10 - Cargo owners in flight to safety after Hanjin collapse, shipping lines say
Cargo owners are becoming more concerned about risks and are shifting their business to shipping lines deemed more financially stable after the collapse of South Korea's Hanjin Shipping Co Ltd, top shipping executives said. Robbert van Trooijen, Asia Pacific chief executive of AP Moeller-Maersk's container shipping arm, said the company was seeing a "flight to safe havens" after the August collapse of Hanjin left $14 billion of cargo stranded at sea.Click here to read full stories.
Nov 10 - Low water again troubles Rhine and Danube shipping in Germany
Low water levels after weeks of dry weather are preventing cargo vessels from sailing fully loaded on the Rhine and Danube rivers in Germany, traders said on Friday. Some vessels can only take 40 percent of their normal load volumes, they said. Loads are being divided among several vessels instead of being carried by a single ship, increasing transport costs.Click here to read full stories.
Nov 10 - A Lack of Compliant Bunkers Could Lead to Widespread Noncompliance Post 2020, But Not Necessarily Fines
Non availability clauses could leave operators able to burn otherwise noncompliant fuel.
Nov 10 - Analysts Worry That Trump Win Puts Pressure On Opec Deal
They also think he'll slow the global economy, alienate key Middle East nations, and lower oil demand.
Nov 10 - Trump Win a Huge Boost For US Oil Sector; Hamm Says Energy Independence Now a Genuine Possibility
The underdog Republican is expected to claw back many environmental regulations blocking industry progess.
Nov 10 - Lower Bunker Prices, Consumption Push Finnlines to Record Results
During the January-September 2016 period, Finnlines achieved a result of €60.9 million - an approximately €20 million year on year improvement.
Nov 10 - Baltic Sea Strategy Forum Focuses on Clean Shipping and Ports
BPO says clean shipping and ports were the main topics discussed at the event, which was held in Stockholm on November 8 and 9.
Nov 09 - Some Major Bunker Markets Do Not Have Refining Capacity to Offer Enough Compliant Fuel Come 2020: IBIA
Those affected will have to rely on imports to maintain or grow volume, suggests IBIA.
Nov 09 - OPEC Downgrades Oil Price Forecast, Says Demand Could Peak Within 15 Years
OPEC makes the prediction despite conventional automobiles set to double globally in 20 years
Nov 09 - Mumbai Port Trust Sees "Huge Potential for Bunkering" with New Facility
The Mumbai Port Trust says it expects bunkering business to grow from 200,000 tonnes to 1.925 million tonnes by 2034.
Nov 09 - Barkindo Warns of "Negative Consequences" of Not Curbing Output As OPEC Pumps Record Volumes
October production alone renders the cartel's proposed cutbacks meaningless, says Goldman Sachs.
Nov 08 - Mass Flow Meters Are Not a Magic Box to Solve the Bunker Industry's Problems: Muhtaroglu
"I know some very unreliable companies with inappropriate history who are trying to recover their bad reputation by using MFMs," the Energy Petrol CEO tells Ship & Bunker.
Nov 08 - Supramax Bulk Carrier Arrested in Singapore
The 52,50 DWT Niton Cobalt was detailed following action taken by local law firm Allen & Gledhill LLP.
Nov 08 - Canada Announces $1.5 Billion Spill Response Plan
The plan will include stricter rules for businesses responsible for pollution, increased coast guard capacity, and new rescue stations.
Nov 08 - Product Tanker Runs Aground in Singapore Strait
While no injuries or pollution have been reported, the vessel was reported to be being prepared for towing on Monday following an assessment of damages.
Nov 08 - BP Pegs Oil at $55 a Barrel in 2017
Bob Dudley also reiterates his claim that the market is in balance "right now."
Nov 08 - A Clinton Win Not Enough To Offset Market Challenges, Say Observers
OPEC shenanigans are cited as the main reason for market pessimism.
Nov 08 - EEC Defines Volume Limits on Bunker Fuel Transported as Vessel Stores
The announcement comes following news of a bunker fuel scheme in which more than 12,000 tonnes of fuel was illegally exported outside the EEU area.
Nov 08 - BIMCO: Container Ship Demolition Reaches All-Time High, Exceeds 500,000 TEU
BIMCO says the results have provided "a positive surprise" for a struggling container industry.
Nov 08 - Bunker Jobs: Singapore-Based Bunker Trader With Hong Kong or Taiwan Customer Experience
Ideally 1-3 years of experience from a similar bunker trading role.
Nov 07 - Oil Continues to Slide As OPEC Members Send Mixed Messages Prior To Vienna
More bad news comes with Barclay's latest stockpile and demand figures.
Nov 07 - Elements of New IMO BDN Amendments "Problematic," Says IBIA
Despite IBIA's concern over some aspects, proposals for changes are said to have been disregarded and the amendments approved.
Nov 07 - MAN Wins First Order for Bunker-Saving HyProp ECO Hybrid Propulsion System
The "innovative" hybrid propulsion system is set to be installed on a 7,500 DWT chemical tanker, and is noted to be "a world first."
Nov 07 - GloMEEP Technical Advisor Wins LR Ship Efficiency' Award
Astrid Dispert has received the LR's "Outstanding Contribution to Ship Efficiency" Award.
Nov 07 - High Drama in Vienna Causes Some Observers to Think Saudis Are Bent On Quashing Output Deal
But OPEC's secretary general assures everyone that all is well and a deal will be reached.
Nov 07 - No Official Comment Yet From Bomin on Trading Office Closure Talk
"They're doing what everyone else should be doing, and doing it first," one industry source tells Ship & Bunker.
Nov 04 - Crude's Plummet Accompanied by Predictions of Mid-$30s or Lower Oil and a "Challenging" 2017
The OPEC deal and rising stockpiles are cited as the reasons for the dire prediction.
Nov 04 - Iran Hits Post Sanctions Oil Export High of 2.44 Million bpd, Closing in on 4 Million bpd Output
But all signs point to yet more growth instead of agreeing to output cutbacks.
Nov 04 - IBIA Outlines IMO "Roadmap" Strategy for GHG Reduction, Global Sulfur Cap Implementation Challenges
"The roadmap is intimately linked with the three-step approach," says IBIA.
Nov 04 - IMO to Consider Establishment of Designated Fuel Sampling Point for Sulfur Regs Compliance
IMO, at MEPC 70 last week, approved guidelines for taking samples from ships to verify compliance with sulfur limits placed on marine fuel.
Nov 04 - DNV GL Announces New Analytical and Reporting Features for Bunker-Saving ECO Insight
The new release is said to provide more frequent and higher quality results, and enables shipowners to manage more vessel data.
Nov 03 - Suez Canal Authority expects response to pre-paid fees plan next week
The Suez Canal Authority expects to hear back from three major shipping firms shortly about its proposal to give discounts on fees for using the waterway if they are paid in advance, its chairman said on Wednesday. "I will hear next week," Mohab Mameesh told reporters on the sidelines of a maritime conference in Dubai when asked about the plan, confirming he was awaiting responses from Maersk, MSC and CMA. Click here to read full stories.
Nov 03 - Maersk container business sinks to quarterly loss
A.P. Moller-Maersk, the world's biggest shipping firm, said the container business on which it is staking its future made a loss in the third quarter of the year as freight rates declined further. Shares in the Danish company fell as much as 9 percent after profit in the three months to the end of September fell 44 percent and came in below forecasts. Low oil prices have depressed returns from the energy business which is the other main arm of the company. Click here to read full stories.
Nov 03 - Japan shippers plan container operations merger to survive industry slump
Japan's top three shippers said they will integrate their container shipping operations to create the world's sixth-largest fleet, joining a growing trend of consolidation in an industry battling its worst-ever downturn. Overcapacity and anaemic economic growth globally have left hundreds of ships idle in the industry's worst slump since its birth in the 1950s and 1960s, with the biggest casualty being South Korea's Hanjin Shipping Co Ltd which collapsed in August. Click here to read full stories.
Nov 03 - France to defend its interests in sale of STX shipyards - minister
The French government has told South Korea it will oppose any solution for shipbuilder STX France that is against national industrial interests, Industry Minister Christophe Sirugue told Reuters on Thursday on the eve of a deadline for bids. STX France is 66.7 percent owned by failed South Korean shipbuilding group STX. An insolvency court in South Korea ruled last month that the French arm could be sold either separately from the parent, or as part of a bigger sale. Bids are due by Nov. 4. Click here to read full stories.
Nov 03 - Suez Canal Authority expects 2016 revenue to grow to $5.7 bln
Egypt's Suez Canal Authority expects revenue to increase to $5.7 billion this year after the waterway was widened, company executive Tamer Hammad told Reuters at a maritime conference in Dubai on Monday. The figure would be an improvement on the $5.175 billion achieved in 2015 and would continue an increase in revenues seen this year despite slowing global trade and initially sluggish demand following the expansion. Click here to read full stories.
Nov 03 - Shipping still hampered by Rhine and Danube water levels in Germany
Cargo vessels are still being prevented from sailing fully loaded on the Rhine and Danube rivers in Germany because of low water levels after recent dry weather, traders said on Monday. Some can only take 40 percent of their normal load volumes, the traders said, with loads having to be divided among several vessels instead of being carried by a single ship, increasing transport costs. Click here to read full stories.
Nov 03 - S.Korea to create state-backed ship financing company
South Korea said on Monday it plans to establish a state-backed ship financing company with an initial capital of 1 trillion won ($871.73 million) to help improve the financial health of Korean shipping companies. The government would provide financing of 6.5 trillion won ($5.67 billion) in total so that local shipping firms could acquire new vessels, said a government statement. Click here to read full stories.
Nov 03 - Thai shippers' council sees 2016 exports flat to 0.8 pct weaker
A group of Thai shippers said on Tuesday it expected exports to be at best flat to 0.8 percent weaker this year, better than the 2 percent decline it had projected in June. Despite recent improvements in Thailand's exports, weak global demand and low commodity prices will continue to crimp the country's shipments, the council said in a statement. Click here to read full stories.
Nov 03 - Peninsula Petroleum Eyes Continued Growth in Singapore Market
The supplier has moved into new offices at Suntec City, Tower 2 to help support its growth ambitions.
Nov 03 - Bomin Confirms Office Closures, Says Bunkering is in a "New Era"
Bomin says the marine fuel supply chain "is experiencing significant transition and change."
Nov 03 - New Senior Bunker & Lubricant Trader for Glander International Bunkering
New hire Kasper Nygaard is based in Dubai.
Nov 03 - Brooklyn Shore Power System Close to Starting Regular Operations
The news comes after reports of several months of multiple delays.
Nov 03 - Oil Demand Peak Could Be Just 5 Years Away: Shell
In the short term, Lundin CEO predicts more volatility.
Nov 02 - Cockett Group Announces Regional Commercial Heads, New Global Head for Lubricants
Caroline Huot, who most recently was Managing Director at Unimarine, has been named as Global Head - Lubricants.
Nov 02 - U.S. DUC Count Rises Dramatically, Sparking Talk They Are Close To Being Tapped
Producers says a "stable" $50 threshold is required for them to take action.
Nov 02 - Low Bunker Prices Help Royal Caribbean to Better Than Expected Q3 Results
The company reported an adjusted net income of $690.9 million for 2016's Q3, compared to $628.1 million during the same period of 2015.
Nov 02 - Wärtsilä Says it is "Well Positioned" to Help Shipowners Comply with 2020 0.5% Sulfur Cap
Wärtsilä says its offering of dual-fuel marine engines and EGC systems means that the company is ready to assist shipowners ensure compliance.
Nov 02 - Tacoma LNG Bunker Plant Moves Closer to Construction Following Latest Approval
Puget Sound Energy is said to be intending to break ground on the facility "in the near future."
Nov 02 - IMO Adopts Mandatory Fuel Consumption Data Collection System
Ships above 5,000 gross tonnage will be required to collect and report data to an IMO database, effective at the start of 2019.
Nov 02 - Goldman Sachs, RBC See Oil in the Low $40s or Below if OPEC Production Deal Fails
But RBC holds out hope that Saudi Arabia will single handedly save the loose agreement.
Nov 02 - MEPC 70 Agrees on Expanded NOx ECA
The decision comes after HELCOM countries of both Baltic Sea and North Sea areas put forth proposals for a NOx ECA to the IMO.
Oct 31 - BP Marine: Economic Growth Could Push Up Bunker Demand by 25% in 2017
Carlos G Torres of BP Marine Fuels says that, if economic growth improves, global bunker demand could grow by as much as 25 percent.
Oct 31 - Robust Implementation is Key to Success of 2020 0.5% Global Sulfur Cap: Trident Alliance
Effective enforcement of the new global cap promises to be even more challenging than enforcing ECAs, the group says.
Oct 31 - CO2 Reduction Efforts Key to Adoption of LNG Bunkering: Bernhard Schulte
The company say shipping will be forced to make changes when the EU's MRV system for ships' CO2 emissions is implemented in 2018.
Oct 31 - Waterfront Shipping to Take Delivery of Methanol-Powered Carrier in November
Canada-based Methanex says the carrier is the the final in a series of dual-powered vessels to its subsidiary Waterfront Shipping.
Oct 31 - Wärtsilä: Singapore Approval "Opens up the Whole of Asia for Wärtsilä's EGC"
The exhaust gas cleaning (EGC) systems are said to be the first to be approved by an Asian flag authority.
Oct 31 - Chinese State-Run Dry Bulk Company Succumbs to Bankruptcy
Zosco has been declared bankrupt by Hangzhou Intermediate People's Court.
Oct 31 - IBIA to Highlight Emerging Caribbean Bunkering Opportunities with Regional Forum in Jamaica
IBIA has partnered with Ship & Bunker to market this important event.
Oct 31 - Oil Deal Doubts Grow, But Analysts Say Crude Prices Are Heading Up Regardless
Still, Friday's market figures suggest OPEC still holds sway over traders.
Oct 28 - Dip in Q3 Bunker Volumes, Marine Profits for World Fuel Services
"Growing concerns in the marine sector has tightened our credit appetite, negatively impacting volumes and profitability," the company said.
Oct 28 - World Fuel Services: Hanjin Exposure is $18 Million and We Expect to Recover Substantially all of that Amount
"But it will be a time consuming process," warns CFO Ira M. Birns.
Oct 28 - Russian Warships Refuel Off North Africa
The news comes days after news that Russia withdrew its request for bunkering warships at the Spanish-North African enclave of Ceuta.
Oct 28 - World Fuel Services Expands Credit Facility to $2.1 Billion
"The transaction was substantially oversubscribed and ahead of initial expectations," says WFS CFO Ira M. Birns.
Oct 28 - Tight Bunker Avails at China's Qingdao Port Following Typhoons: Market Sources
Several sources Thursday said Sinopec stocks were understood to be running low.
Oct 28 - UPDATE: IMO: 0.5% Global Sulfur Cap to Take Effect from 2020
MEPC 70 today agreed that a 0.5 percent global sulfur cap on marine fuel will be implemented from 2020, rather than a later 2025 date.
Oct 28 - Bunker Suppliers Might Not Have a Lien, But That Doesn't Necessarily Mean They're Not Entitled to be Paid
"There's this belief out there that liens must exist and someone must have it, and that just isn't the case," Reed Smith Partner Andrea Pincus tells Ship & Bunker.
Oct 27 - Egypt seeks new Suez Canal toll deal with global shipping lines
Egypt is in talks with global shipping firms to change the way it charges vessels to pass through the Suez Canal, offering discounts for advance payments as it seeks to raise much-needed hard currency from a struggling industry. Denmark's A.P. Moller-Maersk, which runs the world's biggest container shipping line, said on Tuesday it was considering proposals from the Suez Canal Authority for a new toll system. Click here to read full stories.
Oct 27 - Guinea inks $770 mln contract with Chinese firm to develop main port
China Harbour Engineering Company (CHEC) signed a $770 million contract with Guinea's government on Monday to upgrade the port in the capital, Conakry, expanding Chinese economic influence in the West African iron and bauxite producer. Under the contact, CHEC, a subsidiary of China Communications Construction Co Ltd, will construct three docks, roads and other infrastructure in the eastern zone of the port, providing parking for up to 600 trucks. Click here to read full stories.
Oct 27 - Seoul court approves winding down of Hanjin Shipping's 4 European units
Hanjin Shipping Co Ltd said on Monday its European routes services have completely halted, and a Seoul court overseeing its receivership process has approved winding down four of its European units. The four units, Hanjin Shipping Europe GmbH & Co, Hanjin Shipping Hungary Transportation Ltd, Hanjin Shipping Poland Sp and Hanjin Spain S.A., will begin winding down by early November using methods such as declaring bankruptcy or being liquidated, Hanjin said in a regulatory filing. Click here to read full stories.
Oct 27 - Dubai's DP World reports 1 percent rise in nine-month container volumes
Dubai-based ports operator DP World Ltd on Tuesday said gross container volume rose 1 percent for the first nine months of 2016 on a like-for-like basis and 2.2 percent on a reported basis. The firm said in a statement it handled 47.5 million twenty-foot equivalent units (TEU) with growth largely driven by terminals in Europe and on the Indian subcontinent. Click here to read full stories.
Oct 27 - Hanjin Shipping in talks to sell Long Beach Terminal stake to MSC
Hanjin Shipping Co Ltd is in talks to sell its stake in the Long Beach Terminal in California to Geneva-based Mediterranean Shipping Company S.A. (MSC), a spokesman for the Seoul court overseeing the shipper's receivership said on Friday. Hanjin Shipping owns a 54 percent stake in Total Terminals International LLC, which operates Long Beach Terminal in the U.S. MSC owns the remaining 46 percent. Click here to read full stories.
Oct 27 - OceanConnect Marine Confirms Exit of Singapore Trio
Sources tell Ship & Bunker the 3 are heading to Aegean, while OCM MD SI Shim says it "will soon hire new trading personnel to grow our Singapore presence."
Oct 27 - Suez Canal in Talks with Foreign Carriers for Prepaid Transit Fees for up to 5 Years
Maersk Line, CMA CGM, MSC, Hapag-Lloyd, COSCO, and Evergreen are said to be in the negotiations.
Oct 27 - Cryoline: Innovation in the LNG 'Transfer Zone'
There is a quiet revolution in energy transportation, with ramifications for LNG transfer for power generation, or other uses, such as marine energy.
Oct 27 - Arcadia Shipmanagement to Extend 12-Year Run of Whole Fleet Green Award Certification
Arcadia Shipmanagement is a unique certificate holder, says Green Award.
Oct 26 - ING Lawyers: Decision Denying ING a Maritime Lien is Wrong
"The bank is now considering its options," lawyers acting on behalf of ING in the US have told Ship & Bunker.
Oct 26 - Investors Bet On Oil Price Rally Regardless Of Vienna Outcome
They point to statistical balances that suggest conditions have vastly improved.
Oct 26 - Another OPEC Member Announces Increased Production Plans For 2017
Indonesia is raising oil and gas production by 42 and 17 percent respectively.
Oct 26 - Bulk Carrier Arrested in Singapore
The 2006-built Vantage Crest was arrested late Monday.
Oct 26 - Crude Prices Continue to Fall
Bunker prices were softening again in the primary ports.
Oct 25 - Bomin Talks Bunker Credit Decisions, and Why They're Getting More Complex
"The golden rule is knowing your business partner, who you are dealing with. It sounds quite simple but a lot is actually involved," Captain Joe Zhou tells Ship & Bunker.
Oct 25 - Crude Falls as Iraq Says No to Production Cuts, But Some Analysts Insist We're Heading to $70/bbl
Dr. Doom and Louise Yamada believe the market will defy fundamentals in the near future.
Oct 25 - Non-OPEC Involvement in Oil Cuts Imperative, Says OPEC Secretary General
The push for unanimous cooperation continues as more cartel members opt out of the plan.
Oct 25 - IMO Secretary-General Looking Forward to a Decision on Start Date for Global 0.50% Sulfur Cap for Bunkers
While the decision on whether it will be 2020 or 2025 is certainly expected this week, IMO has highlighted a decision could come as late as fall 2018.
Oct 25 - ABB Shortlisted for Environmental Award for World's Largest Emission-Free Ferries
ABB Monday announced that it has been shortlisted for the "Energy Efficiency Solution Award" category of the 2016 Ship Efficiency Awards.
Oct 24 - Major U-Turn for U.S. OW Bunker Cases as ING Bank is Denied Maritime Liens
The decision offers a glimmer of hope to physical suppliers, but it could also be a boon for bunker buyers as no-one may be eligible for a lien.
Oct 24 - Adani Bunkering Ties Up with Lukoil for Lubricants Supply in India
Adani Bunkering says it will cater to the marine lubricants requirements of vessels on coastal run across all Indian Ports.
Oct 24 - Feature: World Fuel Services on The Benefits of Working with a Strong Counter Party
Knowing how to manage risk is the key to long term success in the bunker market, and this has never been so true following the demise of OW and Hanjin.
Oct 24 - Trump's "Unleashing" of U.S. Shale Will Result In Energy Independence by 2022: Hamm
Trump's energy advisor also thinks Trump will win in a Brexit style surprise election outcome.
Oct 24 - New Bunkering Operation Now Open on Canadian East Coast
Irving has opened its Halifax Harbour Terminal, which will provide storage and distribution of bunkers, among other fuels for various purposes.
Oct 24 - EU Ports Urge MEPC to Back NOx ECA Proposal
The call for the NECA was issued by the ports of Antwerp, Hamburg, Rotterdam, Le Havre, and Bremen/Bremerhaven.
Oct 21 - Crude Falls as Dollar Hits Three-Month Peak against the Euro
Bunker prices were softer in the primary ports.
Oct 21 - 0.5% Sulfur Cap: Good News for Bunker Traders, Bad News for Shipowners
Bunker trading houses "are in for a major comeback in the years to come," Brightoil's Hans Staal tells Ship & Bunker.
Oct 21 - BP Ready for 2020 0.5% Global Sulfur Cap, but No-One Knows What 100+ of the World's Others Refiners Will Do
The IMO's official fuel availability study and a second independent study are an "exchange of ignorance", Rudy Kassinger tells Ship & Bunker.
Oct 21 - Falih: Oil Markets Are at the End of Downturn
But analysts are still divided as to what this means for prices.
Oct 21 - 52 Maritime Players Issue Joint Call for IMO Action on Shipping Emissions
The joint call for action was issued through an open letter signed by the group members, encouraging IMO member states to set clearly defined objectives.
Oct 20 - Freight futures market avoids tougher EU information disclosures
The European Union's securities markets regulator has dropped proposals to make participants in the multi-billion dollar commodity derivatives market for freight rates disclose knowledge of loading conditions, the Baltic Exchange said. The European Securities and Markets Authority (ESMA) published its report on Sept. 30 on its proposals for more disclosure of inside knowledge about commodity derivatives trading to prevent market abuse. Click here to read full stories.
Oct 20 - UK regulator approves Singapore Exchange's takeover of London's Baltic Exchange
Britain's Financial Conduct Authority (FCA) has approved Singapore Exchange's 87 million pound ($107 million) takeover of London's Baltic Exchange after shareholders gave the green light for the deal last month, the Baltic said on Wednesday. The acquisition is one of the latest developments in a string of mergers, bidding wars and failed deals among global exchanges. SGX's offer comes as the global shipping industry is struggling with its deepest downturn. Click here to read full stories.
Oct 20 - Hyundai Merchant Marine says it may bid for Hanjin's Asia-US route assets
South Korea's Hyundai Merchant Marine Co Ltd said on Tuesday it may submit a preliminary bid for Hanjin Shipping Co Ltd assets used in Asia-to-U.S. routes - a sale seen as key to Hanjin's prospects for paying off creditors. Hanjin, the first major shipping line to be dragged down by global industry overcapacity and low freight rates, put up manpower and logistics systems, five container ships and 10 overseas businesses, for sale last week. Click here to read full stories.
Oct 20 - Maersk defends sending ships to Indian shipbreaking yard
Shipping conglomerate A.P. Moller-Maersk said on Monday it was striving to improve workers' rights at shipbreaking yards it uses in India after criticisms of hazardous conditions. The Danish company also expressed regret that a ship it sold this year, the "North Sea Producer", had then been taken to a shipbreaking yard in Bangladesh, after Danish media last week showed workers using precarious rope ladders to climb the hull. Click here to read full stories.
Oct 20 - Crude Up 3%
Bunker prices were much firmer in the primary ports.
Oct 20 - World Fuel Services Gets Green Light Over Hanjin Vessel Arrest, Paves Way for Further Bunker Bill Recovery Claims
The vessel is deemed to be not covered by court protection.
Oct 20 - New Software Launched to Digitalise Delivery Paperwork for the Bunkering Industry
"Workload is dramatically reduced, as is the opportunity for human error," Vortex Development Group co-founder Jeff Mildner tells Ship & Bunker.
Oct 20 - Bomin: Bunker Traders Still Play a Key Role in Risk Management
"It comes down to knowing the people you are dealing with," Regional Credit Manager Captain Joe Zhou tells Ship & Bunker.
Oct 20 - U.S. Navy Set Expand Fleet with 17 New Bunker Vessels
Rolls-Royce says it will supply two "highly efficient" Kamewa 150A Controllable Pitch Propellers and two Bergen B32:40xL8A generator sets for the first vessel.
Oct 19 - Bomin: We Have Zero Exposure to Hanjin and Will Continue with a diligent Approach to Credit
"We don't just assess buyers, it is also important to assess suppliers as well," Regional Credit Manager Captain Joe Zhou tells Ship & Bunker.
Oct 19 - Brightoil Expects to Double its Singapore Bunker Volumes in 2017 as Part of Wider Growth Plans
The supplier also expects to to increase its sales volume "significantly" in China, Global Bunker Director, Hans Staal has told Ship & Bunker.
Oct 19 - Oil Prices Creep Up Higher
Bunker prices were stable to firm in the primary ports.
Oct 19 - HMM Says Preliminary Bid for Hanjin Asia-U.S. Assets Possible
While the extent of bidding interest from other companies is unclear, HMM's interest is said to currently mark Hanjin's best prospects toward paying off its creditors.
Oct 19 - Low Bunker Prices Provide Cushion to Bahri's Decreased Q3 Profits
Bahri reported a 37 percent year on year decrease in net profit during 2016's Q3.
Oct 18 - Appetite for Risky Oil Deals is Increasing, Summit Hears
This despite some of the world's leading trading houses being owed almost $1 billion from quashed projects.
Oct 18 - Crude Starts the Week Soft
Bunker prices were somewhat soft in the primary ports.
Oct 18 - SOPREMA Acquires 3% Stake in Ecoslops
The news comes as part of an announcement that Michel Pingeot, Board Chairman, will stand down from his role, effective November 15, 2016.
Oct 18 - ONR Sponsors Antifouling Research to Support U.S. Navy Bunker Savings
The project is said to be specifically aimed at examining how to keep hydrogel coatings soft, wet, and securely fastened to metal hulls.
Oct 18 - South Korean Bunker Operations Return to Normal Following Week-Long Strike
Negotiations with refiners led barge owners to accept a 10 to 20 percent fee increase - short of the 40 to 100 percent increase originally proposed.
Oct 17 - Bunker Jobs: Integr8 Fuels Seeking Trader/Broker
The position is based in Hamburg.
Oct 17 - VTTI Sees Increased Demand for Distillate Storage in SE Asia
As a result, VTTI is looking for opportunities to expand its storage capacity in the region.
Oct 17 - Rickmers Maritime Warns of Winding Up Risk at Key Vote on Restructuring Plan
If the restructuring proposal is rejected, the winding up of the Trust will be proposed.
Oct 17 - Regional Approach to CO2 Emissions Regs Would Not be Sustainable for Shipping, Says Shipowners
Both ECSA and DSA have welcomed a decision rejecting proposals that sought to include shipping in the regional CO2 emission's trading scheme of the EU.
Oct 17 - DYNAMARINe's EMP Approved for Use Under EU MRV Requirements
DYNAMARINe's EMP has been certified as MRV-ready and in compliance with the EU MRV IT requirements.
Oct 14 - Analysts Clash Over OPEC As "A Dying Organization" Or A Force That Will Propel Prices Into The $70s
One analyst thinks U.S. shale producers are increasingly calling the shots.
Oct 14 - Clean Up Underway After Bunker Spill Near Port Isabel
A towing vessel is said to have struck a dock at mile marker 667 of the Intracoastal Waterway spilling 20,000 gallons of low sulfur diesel into the water.
Oct 14 - Savannah Bunkering Resumes as USCG Reopens Port
USCG cleared the port of Savannah, Georgia Wednesday with some restrictions.
Oct 14 - Missouri River Bunker Spill Clean Up Complete: USCG
A total of 3,000 gallons of oily-water mixture is said to have been removed from the vessel with the help of Terminal Petroleum.
Oct 14 - Damen Unveils New Battery-Ready Cruise Vessel Design
The design, developed with assistance from Expedition Voyage Consultants and Knud E. Hansen, features a diesel-mechanical hybrid configuration.
Oct 13 - Hurricane Matthew stalls planes, plants, ports and trains
Disruptions to air travel, manufacturing, supply chains and retail stores spread on Friday as Hurricane Matthew worked its way up Florida's Atlantic coast, leaving people and goods stranded and plants idled. After cancelling 590 flights on Thursday, American Airlines Group Inc canceled 580 on Friday and 160 on Saturday. A spokesman said flights had resumed in Miami on Friday morning as the storm moved north. Click here to read full stories.
Oct 13 - Merchant ships off Yemen brace for more danger after attacks on navy craft
Missile attacks from Yemen on Western military craft risk spilling over into nearby busy sea lanes which could disrupt oil supplies and also other vital goods passing through the tense area, shipping and insurance sources say.While shipping companies have yet to divert ships, there are growing worries that any further escalation could hinder oil supplies and potentially lead to higher insurance costs for shipments. Click here to read full stories.
Oct 13 - Low water hinders Rhine and Danube shipping in Germany
Low water levels continue to prevent cargo vessels from sailing fully loaded on the Rhine and Danube rivers in Germany, with ship operators often imposing surcharges to compensate for extra costs, traders said on Monday.Low water is hampering shipping on the entire length of the Rhine and Danube, traders said, with loads having to be divided among vessels instead of being carried by a single craft, driving up transportation costs. Click here to read full stories.
Oct 13 - Oil Will Struggle To Hold $50 in Q4, as Analyst Says Producers Simply Got Demand Picture Wrong
One analyst warns of oil dropping to the low $40s depending on Vienna outcome in November.
Oct 13 - OPEC September Production Figures Undermine "Smoke And Mirrors" Cap Deal
However, some analysts credit the cartel for being master manipulators.
Oct 13 - Hanjin Shipping Creditors List Released, 10 Bunker Companies Owed $64 Million
The document lists over 3,000 creditors in total.
Oct 13 - Hanjin, OW and Preparing for the Next Unthinkable Sinking
Hanjin and OW provide the reason now not to ignore the industry warnings.
Oct 13 - West Indies Oil Company to Sign Bunker Supply Agreement with Royal Caribbean
"We're putting things in place ... we are ready to bunker," says Gregory Georges, WIOC's CEO.
Oct 13 - Handysize Bulk Carrier Arrested in Singapore
The 29,500 dwt Southern Spirit was detailed following action taken by local law firm Gurbani & Co LLC.
Oct 12 - Port strike clouds Brazil's September coffee export data
Brazil exported 2.2 million bags of green coffee in September, sharply below the 2.91 million bags a year ago, as a customs workers' strike at the Port of Santos delayed the collection of data, exporters association Cecafé said on Tuesday. Traders in the world's largest coffee exporter, however, said the strike also slowed the physical volume moving through Brazil's main coffee port, as federal inspectors restrict export licenses.
Oct 12 -JAX LNG Ready to Begin Construction on Jacksonville LNG Bunker Facility
JAX LNG's plant will support LNG bunkering through Clean Jacksonville - North America's first LNG bunker barge.
Oct 12 -NYK Line Expecting $1.9 Billion in Extraordinary Losses
The company has estimated extraordinary losses of about ¥195 billion ($1.89 billion) for the interim period of 2016 fiscal year.
Oct 12 -Norden: Bypassing Bunker Traders is Possible, but Not Practical
While it still needs bunker traders, Norden says it has reduced its trading volume by more than 50 percent since the collapse of OW Bunker.
Oct 12 -Price Target Not a Consideration In Six-Month Output Cap Deal: OPEC
The Saudis are asking non members not to support the deal, but contribute to it.
Oct 12 -South Korean Authorities Working to Minimise Bunker Supply Disruptions Alongside Strike
More than 200 of South Korea's 680 bunker tankers are said to have gone on strike following a failure to reach an agreement on operating fees with refiners.
Oct 12 -Vitol and Trafigura Among Bidders in Petrol Ofisi Sale: Sources
OMV is said to have agreed on Monday to the sale of the Aliaga fuel storage terminal to a group led by Socar.
Oct 12 -VPS: Industry is Underestimating Risk from Decline in Distillate Fuel Quality
VPS' Captain Rahul Choudhuri says managing fuel quality needs have a global focus.
Oct 11 - Santa Barbara Hails Voluntary Slow Steaming initiative
The programme provides incentives for companies to reduce speeds in the Santa Barbara Channel region to 12 knots or less.
Oct 11 - More Details Revealed on San Francisco Hydrogen Ferry, Bunkering Plans
SF-BREEZE, a zero emissions ferry, is being developed through a cooperative agreement between Red and White Fleet and Sandia National Laboratories.
Oct 11 - Carnival Fuel Consumption Flat, Bunker Bill Falls by a Third
For the 9 months ended August 31, 2016 carnival achieved savings of $348 million year-on-year.
Oct 11 - Bomin Expands Physical Bunkering Infrastructure in Singapore
Thomas Roller, Managing Director of Bomin Group says the bunkering sector is "experiencing significant change."
Oct 11 - Russia's Vow To Join Output Caps Comes Amidst Iraq Urging Production Boost
Vladimir Putin also calls on other nations to restrict their production.
Oct 11 - BP, Vitol Differ On State of Oil Market Balance
BP says market balance has been achieved, but Vitol says that is still in the future.
Oct 11 - Market Sources: St Petersburg "Out of Bunker Fuel"
Dates for supply replenishment are said to be unclear.
Oct 10 - Russia Swipe At OPEC Deal Causes Price Drop; Petroleo Official Says Cap Will Be Rejected By Outsiders
The official also joins the chorus of critics who think the cartel's influence is now minimal.
Oct 10 - Bunker Tanker Collides with Cargo Ship in Tokyo Bay
While both vessels are reported to have sustained damages and breaches, both are noted to have remained seaworthy.
Oct 10 - Market Sources: Demand Boost Puts Pressure on Avails at St Petersburg
Increased demand is said to have tightened avails and provided support to prices at the port.
Oct 10 - Bunker Prices in Panama Surge to Year's Highest Levels
Prices for IFO 380 Friday reached $284.50 pmt according to Ship & Bunker data - the highest prices have been so far this year.
Oct 10 - Oil Prices Won't Break Out Anytime Soon and May Drop Further: Analysts
One expert says oil will stay between $50 and $55 throughout 2017.
Oct 07 - Asia flows boost shipping rates, displace U.S. crude imports
Robust Asian demand for West African crude is fueling a worldwide surge in shipping rates for the largest oil tankers that is being felt from Houston to Singapore.Chartering rates for Suezmaxes and very large crude carriers (VLCCs) have recovered rapidly in recent weeks after plunging to their lowest in more than year this summer. Click here to read full stories.
Oct 07 - Saudi Price Cuts An Indication They Won't Abide By Output Deal After All: Analysts
But PIRA credits Saudis for market "managing" and believes OPEC is serious about $50-$60 oil.
Oct 07 - Gazpromneft Marine Bunker Completes First Ust-Luga Ship Supply Delivery to Chevron
Gazpromneft says its vessel Gazpromneft West provided 13.5 tonnes of TARO 40 XL 40 X to the 40,549 DWT Seamarlin tanker during the operation.
Oct 07 - Iraq has "Thrown A Spanner In The Works" Of The Opec Output Deal: Energy Aspects
Energy Aspects says a stymied deal could mean oil below $40 by year end.
Oct 07 - U.S. East Coast Bunker Operations Brace for Hurricane Matthew
According to the National Hurricane Center, the storm is expected to arrive in the region by late Friday or early Saturday.
Oct 07 - More Choppy Trading, WTI Breaks $50/bbl
Bunker prices were firming in the primary ports.
Oct 07 - Wade Maritime: We Advise Using a Bunker Contract Clause Stating Traders are Paid Only After the Physical Suppliers Are Paid Traders "can, and have been more flexible when it comes to these types of requests," Managing Director Captain Rohit Bhatia tells Ship & Bunker.
Oct 06 - Shippers brace for new rules to cut deadly sulphur emissions
The global shipping industry is bracing for a key regulatory decision that could mark a milestone in reducing maritime pollution, but which could nearly double fuel costs in a sector already reeling from its worst downturn in decades. The shipping industry is by far the world's biggest emitter of sulphur, with the SOx content in heavy fuel oil up to 3,500 times higher than the latest European diesel standards for vehicles. Click here to read full stories.
Oct 06 - Israeli shipping firm Zim to defer $115 million in payments
Israeli shipping company Zim, which has been hit hard by the weak global shipping market, said on Wednesday it had agreed to defer $115 million of upcoming payments to creditors until 2018. Zim said in its second-quarter report that the agreement with its creditors was to defer payments due over a 12-month period, which began on Sept. 30, until the start of 2018. The creditors include banks and ship owners, but Zim declined to name them. Click here to read full stories.
Oct 06 - Credit Agricole set to boost shipping provisions as sector gloom deepens
Credit Agricole CIB, which has a shipping portfolio worth $15 billion, is likely to set aside extra provisions this year to cover potential losses after the sharp downturn in the industry, a senior official at bank said. Thibaud Escoffier, head of shipping and offshore finance at the lender's corporate and investment banking unit, said it was too early to say how large the provisions would be, adding that the shipping book would "continue to be properly marked". Click here to read full stories.
Oct 06 - Hanjin lost 'game of chicken' among global shippers, chairman says
The collapsed Hanjin Shipping Co Ltd could not compete against global rivals that were supported by their governments, the chairman of its parent firm told a South Korean parliamentary hearing on Tuesday. The world's seventh-largest container shipper sought court receivership in late August after its creditors led by a state bank halted further support, stranding $14 billion in cargo and sending waves through global trade networks. Click here to read full stories.
Oct 06 - Japan's Kawasaki Heavy may pull out of shipbuilding
Japan's Kawasaki Heavy Industries Ltd said it would consider a drastic revision of its shipbuilding business due to its worsening profitability and indicated that it may pull out of the business. The company on Friday revised its profit outlook lower for the business year ending next March, citing a stronger yen against the dollar and a decline in operating profitability from the shipbuilding business. Click here to read full stories.
Oct 06 - Rains disrupt coal deliveries to Colombia's Puerto Nuevo export terminal
Coal deliveries to Colombia's Atlantic export terminals have been disrupted by heavy rains, further tightening a market that has already seen prices sky-rocket this year.Extremely heavy rainfall in Colombia's Caribbean coastal provinces, where almost all the country's coal mines and export terminals are located, has interfered with deliveries to the port, coal traders and shippers said.
Oct 06 - Mauritius to End Offshore Bunkering, Boost Storage for Onshore Bunkering
"At the moment we are on track for the new storage to be ready within the next 18 months," STC Chairman Dr Bhennick tells Ship & Bunker.
Oct 06 - VW Set to Use Two LNG-Powered Car Carriers
From 2019 onwards, the two new ships will replace two of the nine HFO-powered vessels currently on routes between Europe and North America.
Oct 06 - OPEC, Non-OPEC Producers to Meet in Istanbul to Discuss Algiers Crude Cap Deal
The informal meeting is set to take place from October 8 to 13.
Oct 06 - Meriaura Takes Delivery of First of Two EcoCoasters
The vessel's hybrid engine is said to enable it to run on both biofuel and MGO.
Oct 06 - BV VeriFuel Looks to Expand Asian Marine Fuel Services with New Business Development Manager
Alex Tang has joined VeriFuel's Marine Fuel Services Team as Regional Business Development Manager for Asia.
Oct 06 - Wade Maritime: We Advise Using a Bunker Contract Clause Stating Traders are Paid Only After the Physical Suppliers Are Paid
Traders "can, and have been more flexible when it comes to these types of requests," Managing Director Captain Rohit Bhatia tells Ship & Bunker.
Oct 06 - Keppel Signs MOU with Shell to Explore Opportunities for LNG Bunkers
Work will specifically focus on exploring opportunities for LNG fuel demand in coastal areas, inland waterways, and the international marine sectors
Oct 05 - Shippers brace for new rules to cut deadly sulphur emissions
The global shipping industry is bracing for a key regulatory decision that could mark a milestone in reducing maritime pollution, but which could nearly double fuel costs in a sector already reeling from its worst downturn in decades. The shipping industry is by far the world's biggest emitter of sulphur, with the SOx content in heavy fuel oil up to 3,500 times higher than the latest European diesel standards for vehicles. Click here to read full stories.
Oct 05 - Singapore Announces Recipients of S$8M in Grants, Other Initiatives as it Prepares for LNG-Bunkering by Mid-2017
Transport Minister Ng Chee Meng says Singapore is preparing for "a future of cleaner marine fuels."
Oct 05 - Singapore to Invest S$500,000 to Develop Mass Flow Meters for Distillate Fuel Delivery
The Ministry of Transport also announced paper-base BDNs will be replaced in 2018.
Oct 05 - Iran To Reduce Fuel Oil Output, Up Quality at Bandar Abbas
Iran says the sulfur content of the fuel oil will be less than 1 percent.
Oct 05 - Despite New Iran Contracts, Analysts Doubt The Country Will Reach 4 Million BPD Output Anytime Soon
While some reports indicate an output of 3.7 million bpd may be norm for the time being, conflicting reports say the country has already hit the 4 million mark.
Oct 05 - Meech, Tolson to Collaborate on New Global Sulfur Regulations Impact Study
The study is said to be a comprehensive evaluation of the impact of MARPOL Annex VI global sulfur regulations on the shipping industry.
Oct 05 - Update: International Focus Group for LNG Bunkering Expanded with Signing of New MoU
The agreement was signed at the opening of SIBCON in Singapore today.
Oct 04 - Gulf Petrochem Expands Physical Bunker Operations
"Entering the Antwerp market only serves to reaffirm the group's commitment to grow the business," says Global Head of Bunkering Neil Lamerton.
Oct 04 - Oil Up As Iran Urges Nations to Join OPEC Cut Deal - While Preparing to Boost its Own Output
Barclays warns that expectations for the deal could be dashed in November.
Oct 04 - Venezuela Hopeful that OPEC Freeze Deal Will Result in Much-Needed $50-$60 Prices
The Venezuelan government also takes credit for facilitating the "historic" deal.
Oct 04 - Valmet to Supply Automation to "Game-Changing" Electric Ferry Concept
The vessel is expected to be able to deliver an annual CO2 and NOx emissions savings of about 2,000 tonnes and 41.5 tonnes, respectively.
Oct 04 - Vladivostok Bunker Sales Volumes Continue Their Decline
Sales volume at Vladivostok for the nine months to September 2016 are reported to have declined by almost 3 times year over year.
Oct 04 - Mercuria Will Continue to Develop its Minerva Bunkers Business
"We would not rule out another physical supply operation for Minerva Bunkers in the future," Mercuria tells Ship & Bunker.
Oct 03 - Brightoil: Our Use of Mass Flow Meters Has Significantly Reduced Quantity Complaints and Disputes in Singapore
The physical supplier says its use of the technology has also improved efficiency.
Oct 03 - Russia Takes A Swipe At OPEC Freeze Deal By Maintaining Price Forecast At $40
But RBC commodities analyst Helima Croft believes "we are done with sub-$40" oil and trending into $60/bbl next year.
Oct 03 - Bunker Prices in Primary Ports End September at their Highest in Over a Year
The average IFO380 price across Singapore, Houston, Rotterdam, and Fujairah, Friday hit a 19 month high.
Oct 03 - Understanding Bunker Fraud: How Can a Physical Supplier Collude with an Owner/Ship Manager to Defraud a Charter?
"This could go on for some time if the charterer's voyage performance calculations are not being done," Adrian Tolson tells Ship & Bunker.
Oct 03 - Pro-Freeze OPEC Expected To Achieve Record High Output For September
The disclosure is accompanied by news that China may have much more oil - or at least the ability to store it - than it admits to.
Sep 30 - Bunker Jobs: Established Trading House Seeks Shanghai-Based Bunker Trader
It is a must that you come with proven experience from a similar Bunker Trading / Sales role and is used to work with Asian clients.
Sep 30 - OPEC Deal Could be Good News for U.S. Drillers, Which May Also Cause Output Deal To Unravel: Analysts
Analysts say over two dozen U.S. producers can profitably drill new wells as oil climbs to $60.
Sep 30 - Minerva Bunkers Winding Up West Africa Physical Supply Operation: Sources
The Mercuria subsidiary is also reported to be closing its offices in Seoul and Piraeus.
Sep 30 - OPEC Agreement Doesn't Sway Goldman's Glut-Influenced Oil Price Forecast
Another observer argues that cuts from one OPEC member will merely result in other members taking up the slack.
Sep 29 - SGX sees Baltic buy helping to boost Asian freight derivatives
Singapore Exchange Ltd (SGX) sees the potential to develop new freight derivatives centred on active Asian shipping routes and expand the use of freight derivatives with its acquisition of London's Baltic Exchange, a senior SGX official told Reuters. "We believe there are a number of opportunities that the Baltic Exchange and SGX can realise together, including the creation and adoption of new benchmarks of Asian shipping routes," Michael Syn, head of derivatives at SGX told Reuters. Click here to read full stories.
Sep 29 - On the Majestic Maersk, mega-ship dreams obscure cloudy future for shipping
For Captain Dick S. Danielsen, the childhood dream has been to sail the world's biggest ships. The Danish seaman got his chance three years ago when he was asked to helm the Majestic Maersk, a mammoth, baby blue-painted vessel that at 400 meters (1,312 feet) is longer than a nuclear-powered aircraft carrier. The ship can hold up to 18,270 twenty-foot (TEU) shipping containers and is owned by the world's largest container shipping firm, A.P. Moller-Maersk. Click here to read full stories.
Sep 29 - Ship shake: Hanjin woes may help float tech, data start-ups
The global shipping industry, ravaged by collapsing revenues, defensive mergers and the failure of major player South Korea's Hanjin Shipping Co Ltd, is slowly waking up to the redeeming potential of technology. While sensor-laden containers, smart ships and 3D printing have grabbed the headlines, the start-ups making the biggest inroads are those working on something more basic - streamlining the interaction between shippers, freight forwarders, and those actually transporting the goods. Click here to read full stories.
Sep 29 - Maersk chairman says ready to take role in shipping takeovers
Denmark's A.P. Moller-Maersk, the world's largest container shipping group, is ready to use its financial muscle to swallow up struggling competitors as the industry heads for further consolidation, the company's chairman said. Earlier on Thursday, in a keenly anticipated revamp aimed at reviving its fortunes, Maersk said it will split itself up and focus on transport and logistics, while seeking a way out of energy. Click here to read full stories.
Sep 29 - U.S. West Coast dockworkers, shippers to talk contract extension
Shipping companies and a powerful dockworkers union have agreed to discuss a possible extension to a contract reached last year, ending labor strike that disrupted U.S. West Coast ports and bogged down cargo trade with Asia for months. The International Longshore and Warehouse Union and the Pacific Maritime Association (PMA), which represents major shippers and terminal operators, have tentatively set talks on the proposal for Nov. 1-2, the two sides said in a joint statement on Tuesday. Click here to read full stories.
Sep 29 - Former Singapore Top 20 Physical Supplier Searights Placed into Receivership: Sources
KPMG has been appointed as receiver of Searights' assets, say sources.
Sep 29 - Hybrid Power: Norwegian Maritime Authority Approves Corvus and PBES Marine Energy Storage Systems
The announcements come following both companies' systems passing thermal runaway propagation testing.
Sep 29 - Damen Prepares to Launch Latest Bunker Saving Vessel
The vessel is said to achieve its fuel efficiency with the help of a slender hull, less weight than a traditional aluminum vessel, and low resistance.
Sep 28 - OPEC Agrees to Cut Oil Production, but Some Members Will Still Produce "at Maximum Levels that Make Sense"
"This was unexpected for sure ... no one that I know of saw it coming," says energy broker and commodities specialist for ICAP.
Sep 28 - Eniram Launches New Fleet Performance Monitoring Service
SkyLight is said to offer a "vastly improved" and more accurate solution compared to manual performance reporting with AIS.
Sep 28 - London's Baltic Exchange succumbs to Singapore as shipping turmoil deepens
The crisis in global shipping and a tax exodus by big Greek vessel owners have helped finally seal the fate of London's Baltic Exchange after at least three approaches to buy it over the last six years of its near-three centuries history.Some 95 percent of shareholders voted on Monday in favour of a takeover deal from Singapore Exchange, valued at 87 million pounds ($112.87 million), trumping more than one effort from the London Metal Exchange to snap it up. Click here to read full stories.
Sep 28 - San Francisco Bunker Market Could See Tighter Avails on Refinery Outage, Say Sources !
Sources add the outage, which began Tuesday, has been estimated to last 45 days.
Sep 28 - Bunkering at Mumbai Outer Port Limits to Resume at End October, Beginning of November.
A Mumbai Port Trust official says OPL bunkering at the port is expected to resume and continue through to the middle of May 2017.
Sep 28 - Cockett Group Announces Series of New Hires for Commercial Team
The hires, said to be part of an effort to optimise the company's commerical teams, include the introduction of a new supply manager in Singapore.
Sep 28 - Iran And Saudis: No Freeze Deal In Algeria, Here's Hoping For Better Luck in Vienna.
Algeria is now viewed as a `prep' for the formal OPEC summit in November.
Sep 28 - Goldman Sachs Slashes Q4 Oil Price Forecast From $50 To $43/bbl
The bank expects a global surplus of 400,000 bpd in Q4 instead of its previous forecast of 300,000 bpd.
Sep 27 - That Sinking Feeling: Shipping industry in crisis
The shipping industry is suffering its deepest downturn ever as trade slows. Around 90 percent of world trade is transported by sea. South Korean container line Hanjin, which filed for receivership on Aug. 31, is the latest casualty in a crisis exacerbated by a glut of ships, many of which were built before the financial crisis when the global economy was healthier. To read the full report, click here.
Sep 27 - Jefferies: Maersk Line Buying Both Hanjn and HMM a "Likely Scenario"
Jefferies' analyst David Kerstens says Maersk Line will "definitely" participate in the consolidation of the container markets, but options are "fairly limited."
Sep 27 - Goldman Says Oil Glut Will Persist Regardless of Freeze Talks Outcome
Meanwhile the bear market continues to grow.
Sep 27 - New Knutsen LNG Tanker Capable of Delivering $1 Million Annual Bunker Savings: HHI
La Mancha Knutsen is a 176,000 cbm MEGI-powered LNG carrier.
Sep 27 - Spill Risk Ruled Out Following Fire on Pemex Oil Tanker: Officials
The tanker, known as Burgos, was carrying 167 barrels of diesel and gasoline products when an explosion occurred onboard on Saturday.
Sep 27 - Russia To Boost Crude Output In 2017, Says Freeze Deal "Impossible to Agree"
Russia's output from hard-to-recover areas will also increase substantially next year.
Sep 26 - Interview with Eniram: First Major Product Since Wärtsilä Acquisition Ready for Launch. Eniram SkyLight is a radically new approach to performance management, Managing Director Henrik Dahl tells Ship & Bunker.
Sep 26 - Saudi's Willing to Cut Production in "Much More Critical" Oil Market, says Algeria
"We are seeking to take a common decision, which everyone will support, whether it will be to freeze the level of output or reduce it," says Algeria.
Sep 26 - K-Line Says Suggestion of Possible Bankruptcy is "False"
"The message contained in the e-mails is unfounded without basis of any financial analysis and what is stated therein is false," confirmed K Line.
Sep 26 - Real Opportunities Exist in Evolving Africa Bunker Market: IBIA
The comment comes following IBIA Africa's second regional forum in Cape Town, which ran from September 14 to 16.
Sep 26 - New Environmentally Acceptable Lubricants Launched by Klüber
Klüber says its focus for this year is on its biodegradable Klüberbio EG 2 gear oils
Sep 23 - Buying time on toxic panamax ships will only prolong suffering (AlphaLiner)
- Rickmers Maritime Trust (RMT) has become the latest casualty in a growing list of containership owners with toxic vessel assets that are unable to generate sufficient funds to pay their outstanding debt obligations. While numerous privately-owned shipowners and KG vessel funds have already filed for bankruptcy in the last three years due to the collapse in containership charter rates and asset values, RMT is the first publicly listed owner to admit that it is technically insolvent and that its assets are currently only worth their scrap values.
- According to RMT, its fleet of 16 panamax containerships of 3,400-5,000 teu, with an average age of only nine years, would be worth a maximum of only $140 M in a distressed sale, against a book value of $640 M. Secured lenders will likely only recover 50 - 65% of the debt owed, while bondholders and shareholders will suffer a total loss on their investments if the assets are liquidated.
- In an attempt to buy time, RMT has proposed that its bondholders exchange $100 M of notes due in May 2017 to $28 M perpetual notes with no maturity date that are convertible to 20% of the shares of the company. If the bondholders do not accept the proposal, the Singapore-listed company says it will not be able to obtain the secured lenders’ agreement to refinance the rest of its outstanding senior debt of $281 M, of which $180 M is due in March next year.
- The proposal will likely be resisted by the bondholders as it favours the equity owners, who will still retain 80% of the company shares, while buying additional time in the hope that the panamax containership market will enjoy an improbable recovery.
Sep 23 - USTC CEO Confirms Group is Not Involved in Danish Fraud Case
The confirmation comes in response to speculation resulting from media reports of a fraud case involving a Danish bunker company.
Sep 23 - EPA Says Clean Strategies and Tech the Key to Greener Ports
The declaration is the result of a new report, "the National Port Strategy Assessment: Reducing Air Pollution and Greenhouse Gases at U.S. Ports."
Sep 23 - APT Sees Keel Laid for Newest LNG-Ready Tanker
The vessel is the third in a series of four such vessels being built for APT by Philly Shipyard.
Sep 23 - Maersk Line Eyes Increased Market Share Following Historic Maersk Shake-Up
But chief executive Soren Skou ruled out placing orders for new vessels, saying: "There are already enough ships in the world."
Sep 23 - Dubai Mercantile Exchange Lists Two New Fuel Oil Derivatives
The new 180 cSt and 380 cSt contracts are intended to hedge the price differentials between Middle East fuel oil and Singapore fuel oil.
Sep 22 - Denmark's Maersk alters course with freight and energy split
Rocked by low freight and oil prices, Denmark's A.P. Moller-Maersk will split itself up and focus on transport and logistics while seeking a way out of energy in a keenly anticipated revamp aimed at reviving its fortunes. The 112-year-old conglomerate will focus on its core businesses, comprising Maersk Line, APM Terminals, Damco, Svitzer and Maersk Container Industry, while seeking "solutions" for its smaller energy operations. Click here to read full stories.
Sep 22 - RBS starts winding down shipping business as sale efforts fade
The Royal Bank of Scotland has begun winding down its global shipping finance business, it said on Tuesday, ending efforts to sell it off during a worsening downturn across the freight industry. Chief Executive Ross McEwan is battling to complete a restructuring of the British bank, which includes asset sales and thousands of job cuts, amid a low-interest rate environment that makes finding profitable new business tough. Click here to read full stories.
Sep 22 - COSCO Shipping sees better 2017 as Hanjin collapse pushes up rates
Amid the unravelling of South Korea's Hanjin Shipping, shippers are looking for more robust alternatives, and freight rates are rising - all potentially good news for rivals such as China COSCO Shipping Corp. Sun Jiakang, executive vice president of China's biggest shipping company, told Reuters on Monday that rates had risen in the last month - a boost that should lift the state firm's fourth quarter and continue into next year. Click here to read full stories.
Sep 22 - German banks count cost of global shipping crisis
German banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard. The lenders - among the biggest backers of shipowners over the past 20 years - are behind up to a quarter of the world's $400 billion of outstanding shipping loans, three shipping financiers told Reuters. Click here to read full stories.
Sep 22 - India's Adani buys Australian port operator from Glencore
A unit of India's Adani Enterprises Ltd will buy the company that operates Australia's Abbot Point Coal Terminal from Glencore Plc for A$19.25 million dollars ($14.52 million), ending a legal wrangle over control of the port. The statement from Adani and Glencore said Adani Ports and Special Economic Zone would purchase the port operator, Abbot Point BulkCoal Pty Ltd, pending regulatory approvals. Click here to read full stories.
Sep 22 - Australian port sold for $7.3 bln to consortium; China fund among backers
A consortium of global and domestic funds, backed by investors including China Investment Corp, agreed to buy Australia's busiest port for a higher-than-expected A$9.7 billion ($7.3 billion), a sign that tough equity markets are helping fuel appetite for infrastructure. Australian leaders will also hope the deal shows they still welcome Chinese investment in infrastructure. The federal government last month blocked the sale of the country's biggest power network, Ausgrid, to state-owned State Grid Corp of China and Hong Kong-listed Cheung Kong Infrastructure Holdings on security concerns. Click here to read full stories.
Sep 22 - Saudi Arabia And Iran Meet Prior to Algiers as UAE Warns Against Any "Quick Solutions". Despite overwhelming evidence, some pundits think the meeting heralds a freeze accord.
Sep 22 - South Korea Expecting Boost in Fuel Oil Demand
South Korea's fuel demand is already said to be up due to a summer heat wave and economic stimulus programme.
Sep 22 - Engie CEO Confirms Plans to Hold onto LNG Business
The comment comes in response to earlier reports that suggested a possible sale or reorganisation of the company's LNG interests.
Sep 22 - Reports of Record Outputs Accompany S&P Prediction Of Oil Not Breaking $55/b Before 2020. S&P also suggests the upcoming OPEC freeze talks will do nothing to alleviate the glut.
Sep 22 - GASNAM to Offer Course on LNG as a Marine Fuel in Madrid
The course is part of a pilot series of two courses on LNG bunkers, including one basic and one advanced, that GASNAM plans to offer in 2017 and 2018.
Sep 21 - LNG Bunker Player Engie Could Reorganise or Sell LNG Business: CGT Union
The news comes after an announcement earlier this month that Engie, along with NYK Line and Mitsubishi, had launched a new brand for LNG bunkers.
Sep 21 - Will Physical Suppliers See Any Positive Outcome from Remaining OW Bunker US Maritime Lien Cases?
"Based on the facts and the law so far, the cases have reached the right conclusion," ING lawyer Bruce G. Paulsen tells Ship & Bunker.
Sep 20 - Port of Amsterdam Aims to Reduce Fleet's Carbon Footprint with Biofuels
GoodFuels Marine is working with the port on a marine biofuel pilot project, expected to reduce the carbon footprint of the port's fleet by 14 percent.
Sep 20 - Aegean Completes Share Repurchase
The company completed the repurchase of 11,303,031 shares on September 15, bringing the company's total outstanding shares to 39,403,822.
Sep 20 - IBIA: Switch to 0.50% Global Sulfur Cap Represents "not Step Changes but Brutal Changes"
IBIA's Unni Einemo says that with the stricter global sulfur cap meaning a shift to distillates for most, there will be a paradigm shift for ship engines.
Sep 20 - Venezuela Confident on Oil Output Deal, Kilduff Says the Entire Issue is "a Joke"
The analyst also thinks oil is about to breach $40 on its way down.
Sep 20 - Crude At $20 $100 All in the "Normal Range" Moving Forward: BP
BP's head of energy economics also suggests it's pointless to dwell over the upcoming freeze talks.
Sep 19 - Dan-Bunkering Moves Stamford Office Location
The company says the move is intended to accommodate the addition of more employees to its team.
Sep 19 - US Court Tells Bunker Suppliers They Cannot Arrest Hanjin's Owned or Chartered Vessels
Lawyers argue the decision to extend protection to owners of Hanjin-chartered vessels is contrary to both U.S. and South Korean law.
Sep 19 - New BAE System Looks to Better Understand True Cost Savings from Slow Steaming
"Reducing speed may save fuel, but could increase the wear to the engine if it sails below its optimum speed," says BAE.
Sep 19 - Despite Low Bunker Prices, Hanjin Collapse, Box Shippers to Stick with Slow Steaming
Low freight rates persist high season demand, Hanjin's recent collapse, and a reported demolition spree.
Sep 16 - Oil Slumps To Multi Week Lows, Norway Says Don't Expect $60 Crude Until 2019
Meanwhile, one analyst suggests that $39 WTI is coming.
Sep 16 - Fuel Barge Aground and Stranded in Northern Canada, as Arctic Season Closes In. Lawyers say it is a potentially "grave" situation.
Sep 16 - OPEC Members Not Comfortable With Current Oil Prices: Analyst
Meanwhile, another analyst credits OPEC for consistently "decreasing" its output this year.
Sep 16 - LNG Prices Expected To Stay Low On Oversupply Worries
As much as 130 million metric tons per year of approved new LNG capacity will come from Australia and the U.S.
Sep 16 - Sales Agreement Reached on Shell Refining Business in Denmark
The sale, which is subject to regulatory approvals, includes the 70,000 bpd Fredericia refinery, as well as local trading and supply activities.
Sep 16 - China Merchants Enter Singapore Bunker Market
The company already has its eye on a second location in Fujairah.
Sep 16 - Mass Flow Meters Mean We're Lifting More Bunkers in Singapore, Says Shipping Company. The latest data from the MPA indicates 107 bunker vessels in Singapore have now been fitted with an approved MFM system.
Sep 16 - Tankers seized in Yemen port, risking deeper import crisis
Authorities in a port controlled by Yemen's Houthi movement have seized two oil tankers from international traders in a payment dispute, according to the ships' owners, an incident which could make it more difficult for the country to import vital supplies.Ocean Tankers, the Singapore-based owner of the two 74,000 tonne ships, the Chao Hu and the Hong Ze Hu, confirmed that the vessels were being denied permission to leave the Red Sea port of Hodeida, Yemen's second-biggest port, which is controlled by the Houthi movement that also holds the capital Sanaa. Click here to read full stories.
Sep 15 - Three ships chartered to troubled Hanjin sold, more on the block
Three ships chartered to Hanjin Shipping Co Ltd have been sold and two more vessels are up for sale, ship brokers said on Wednesday, kicking off an asset sale sparked by the failure of the world's seventh largest container shipper. Around $14 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms worried about not being paid refuse to work for Hanjin, which filed for receivership in a Seoul court on Aug 31. Click here to read full stories.
Sep 15 - French port workers to join strike against labour reform - union
French CGT trade union port workers will join a nationwide strike against French labour reforms on Sept. 15, the union said on Monday, a move that could disrupt oil, grains and other commodities shipment at French ports. The hardline CGT union led rolling nationwide strikes against the labour reform between April and June against the reform which they said will curb workers rights and make it easier for companies fire workers. Click here to read full stories.
Sep 15 - Taiwan's commodities companies brace for another super typhoon
Taiwan's commodities industry was preparing on Tuesday for heavy wind and flooding as Typhoon Meranti hurtled towards the south of the island, threatening to disrupt grain and oil shipments from its major port and a lead refinery. As the storm strengthened in the Pacific, Taiwan's national weather forecasters predicted it would make landfall in the Hengchun Peninsula on Wednesday. Click here to read full stories.
Sep 15 - Hanjin's fall will not fix the global shipping industry's ills
Following the collapse of Hanjin Shipping Co Ltd, container shipping rates from Asia to the United States spiked 50 percent as the carrier's customers scrambled for ships. Few shipping industry experts expect those price increases to fix what is wrong with the industry. Hanjin's collapse and the resulting chaos in the global shipping sector are symptoms of deeper ills caused by a capacity glut that will remain even after the resolution of Hanjin's crisis, industry officials and experts told Reuters. Click here to read full stories.
Sep 15 - First Shore Power Solution Commissioned at an Indian Port
"I would like to congratulate the V.O. Chidambaranar Port for their vision and focus on clean energy," says ABB India CEO Sanjeev Sharma.
Sep 15 - Fuel Cell Technology Successfully Tested on Two Vessels
"The project e4ships has reached a milestone in the use of climate-friendly systems for ships," says Minister.
Sep 15 - First Fuel Oil Delivery Made Under Rosneft - Hellenic Petroleum Deal
A 30,000 ton batch of fuel oil has been loaded on the tanker Kriti Rock at the port of Tuapse.
Sep 15 - Dry Bulk Recovery: Newbuild Orders "Almost Non-Existent"
Golden Ocean Group says that low ordering activity is "very important" if the market is to see sustained rate recovery.
Sep 15 - MEPs Push for Shipping to be Included in Emissions Trading System Toward 2030 Reduction Target. The proposed amendment would see shipowners buy ETS allowances from 2021 onwards.
Sep 15 - Ivory Coast awards San Pedro port expansion to MSC, Bilal Group
Ivory Coast has awarded a project to upgrade its second port of San Pedro to global shipping giant Mediterranean Shipping Company (MSC) and the Bilal Group, a government spokesman said on Wednesday.Ivory Coast is the world's leading producer of cocoa, and over half of total output is exported via the port of San Pedro, which is located near the main western growing regions. Click here to read full stories.
Sep 14 - Bearish IEA Report Misinterpreted, Says Analyst
Oil production growth is now lagging oil demand growth, writes Robert Rapier.
Sep 14 - Klaveness Says Newbuild CABU Carriers to Deliver 5-10% Bunker Savings
The company says that the three carriers were designed "with the environment in mind."
Sep 14 - Scrubber Retrofit Completed on Norwegian Jewel
NCL says the installation is part of the company's efforts to reduce its environmental footprint and air emissions.
Sep 14 - PGNiG and LOTOS Claim LNG Bunker Delivery First
The delivery is said to be the first such LNG logistics project to be completed within Poland.
Sep 14 - IEA: Global Oil Demand Slowing Faster Than Predicted, Glut To Last Well Into 2017
But IEA's Matthew Parry sends signals that at least some growth is better than none.
Sep 13 - Less Demand, More Production, And More Surplus For 2017: OPEC
The cartel calculates that an average surplus of 760,000 bpd is likely.
Sep 13 - Despite Monday's Gains, Oil's Near-Term Upside Still Capped at $45-$55
A further increase in the U.S. rig count is contributing to the bearish sentiment.
Sep 13 - ABS Grants AiP to LNG Carrier Powered by Dual Fuel Gas Turbine
The GE gas turbine is noted to be dual fuel capable, operating on either the carrier's cargo of boil off gas or MGO.
Sep 13 - Harvey Gulf Receives ABS and USCG Approvals for LNG-Bunkering Vessel
The vessel has been designed for both ship-to-ship and shore side LNG transfers, with the ability to load and discharge at a rate of 600 cbm per hour.
Sep 12 - Crude Prices Make Gains Monday
Bunker prices were somewhat firm in the primary ports.
Sep 12 - KPI Bridge Oil: Singapore MFM Regs Won't Stop Bunker Disputes
Even though bunker suppliers will be required to use of MFMs, Emmett notes that most other vessels will not still not be equipped with mass flow meters.
Sep 12 - Bunker Sector Not Ready for 0.5% Sulfur Cap in 2020, Says KPI Bridge Oil
Mark Emmett, managing director of KPI Bridge Oil Singapore, says the 2025 implementation date is preferable.
Sep 12 - Get Set For A Grim September With Oil As Low As The $30s, Warn Analysts
Plus, they warn that this week's numbers will show a substantial build in supplies.
Sep 12 - DNV GL to Implement Green Tech on Hamburg Port Authority Fleet
DNV GL signed a letter of intent with the HPA at SMM in Hamburg on Friday.
Sep 09 - More Signals of Doomed Freeze Talks As Nigeria And Libya As Well As Iran Are Cited As Having Right to Raise Output. Russia offers its own peculiar idea of what a production cap should be.
Sep 09 - China Drafts New Regs Imposing Penalties for Oil Spills
The proposed regulation covers damages for clean-up costs and the restoration of ecological balance in marine environments resulting from spills.
Sep 09 - Syria Could Be Key To Oil Freeze Deal, But Fundamentals Wouldn't Change Much: Kilduff.
Kilduff's remarks accompany a new wave of market forecasts.
Sep 09 - Latest Singapore MFM Comments Highlight Again the False Economy of Artificially Lower Bunker Prices
"Maybe we should be thinking about getting the quantity we pay for," Adrian Tolson, Senior Partner at 20|20 Marine Energy, tells Ship & Bunker.
Sep 09 - Port of London to Implement Discount Programme for Emission Reducing Vessels
PLA says it will provide discounts on port dues to vessels with emission levels that meet an Environmental Shipping Index score of 30, or above.
Sep 09 - Iran Raising Output Despite Support for Oil Market Stabilization
Going into the freeze talks later this month, Iran will boost production by 300,000 bpd.
Sep 08 - Freight rates jump as Hanjin collapse spurs supply shock
The cost of transporting containers from ports in Asia to Northern Europe and the United States jumped this week after the collapse of South Korean Hanjin Shipping Co Ltd. Container spot freight rates on the world's busiest routes from Asia to Northern Europe jump 36.6 percent to $949 per twenty-foot equivalent units (TEU) this week. Rates increased by 51 percent to the U.S West Coast and 45 percent to the U.S. East Coast. Click here to read full stories.
Sep 08 - Shipyard groups Damen, Fincantieri potential STX France buyers - paper
Dutch group Damen shipyards and Italian group Fincantieri are the two potential buyers that have emerged for STX France, a shipyard subsidiary of the struggling South Korean group STX Corp, French daily Le Monde said on Thursday. "Two foreign candidates, Italy's Fincantieri and Holland's Damen are fighting over the last big French company of the (shipyard) sector," Le Monde said, citing several sources. Click here to read full stories.
Sep 08 - Low water hampers Rhine and Danube river shipping in Germany
Low water levels after recent dry weather are preventing cargo vessels from sailing fully loaded on the Rhine and Danube rivers in Germany, traders said on Monday. Low water is hampering shipping on most of the Rhine between Duisburg, Cologne and Mainz, traders said. Click here to read full stories.
Sep 08 - Lead Hanjin creditor signals new funds for shipper unlikely
The lead creditor bank for South Korea's Hanjin Shipping Co Ltd said it will be difficult to accept a court request to provide the firm new funds - funds seen vital to resolving the problem of cargo stranded around the world.A Korea Development Bank spokesman said providing extra funding to Hanjin could lead to breach of trust issues as there was no certainty that additional support would help the company survive. The bank is still considering the request and has not made a final decision yet, he said. Click here to read full stories.
Sep 08 - Singapore: VPS Endorses New Procedure for Surveyors Working with Mass Flow Meters. "We will strongly encourage the shipping industry to use this SOP for monitoring MFM delivery in Singapore & other ports of call," says VPS.
Sep 08 - ExxonMobil Insight: Part 2 - ECA Fuels
In the second of the series, ExxonMobil discusses how its Premium ECA fuels can help operators to comply with sulphur emission legislation.
Sep 08 - AkzoNobel Claims 6% Bunker Savings with New Fouling Control Coating
Akzo Nobel says its newly launched Intersleek 1000 has demonstrated fuel and CO2 savings of up to 6 percent.
Sep 08 - Physical Bunker Suppliers are "Working on a Sales Paradigm that No Longer Exists". Physical suppliers are "surrendering 100% security of their receivables to traders at the ship's manifold," Marc Gawthrop tells Ship & Bunker.
Sep-07 - Crude Prices Continue to Edge Up
Bunker prices were firmer in the primary ports.
Sep 07 - IBIA Finalises SOP for Surveyors in Singapore to Harmonise Approach to MFMs
The SOP has been developed to address industry concerns and benefit all parties in the bunkering supply chain, says IBIA.
Sep 07 - ExxonMobil: "No One Solution" for Shipowners in the Face of Tightening Emissions Regs
Iain White, global marketing manager at ExxonMobil Marine, says shipowners will have to find the solution that works best for them.
Sep 07 - Refiners Said to Have "Little Interest" in Fixing Residual Fuel Problem Posed by 0.5% Global Sulfur Cap
Ship & Bunker data indicates that at current prices, marine's annual bunker bill would rise by $50 billion if only distillates were burned.
Sep 07 - Rolls-Royce Improves Fuel Efficiency by 5% in Latest MTU Engines
MTU Series 4000 diesel engines has shown a 5 percent reduction in fuel consumption alongside a 45 percent increase in output.
Sep 07 - ABB Says 10% Bunker Savings from New Azipods are a "Leap in Fuel Efficiency"
The Azipod XL propulsion unit is up to 20 percent more fuel efficiency than modern shaft line propulsion systems, says ABB.
Sep 07 - U.S. judge grants Hanjin temporary protection from U.S. creditors
Korean shipping line Hanjin Shipping Co Ltd won an order on Tuesday from a U.S. judge extending bankruptcy protections so its vessels can dock at U.S. ports without fear creditors will try take actions against the ships as they have in other countries.U.S. Bankruptcy Judge John Sherwood approved a motion by the world's seventh largest container carrier that sought to extend to the United States the protection from creditors that it has under receivership in South Korea.
Sep 06 - Industry Veteran Paul Davis Joins Ship & Bunker as Director of Sales and Partnerships. Paul, who beings his new role effective October 1, 2016, will be based predominantly in the UK.
Sep 06 - LR Collaborates with HHI and HMD on Ship-to-Ship LNG Bunkering Study
The study aims to verify the practicability of ship-to-ship bunkering between 6,600 m3 LNG bunkering ships and 14,000 TEU LNG-fuelled container ships.
Sep 06 - LNG Bunkering to Feature in New Kongsberg Simulator
Kongsberg Digital, has signed contracts with Sweden's Chalmers University of Technology and others to develop the system..
Sep 06 - Big Oil Companies Set For Production Increase Into The 2020s
Projects will kick in and cash flow will improve beginning next year, say experts.
Sep 06 - Hempel & DNV GL Renew Declaration of Support for ISO 19030
The two companies say they will continue efforts to work together to embrace the standard that promotes fuel savings within the shipping industry.
Sep 06 - Low water hampers Rhine and Danube river shipping in Germany
Low water levels after recent dry weather are preventing cargo vessels from sailing fully loaded on the Rhine and Danube rivers in Germany, traders said on Monday.Low water is hampering shipping on most of the Rhine between Duisburg, Cologne and Mainz, traders said.
Sep 06 - Hanjin's creditors ready to provide $90 mln in funds-govt officials
Hanjin Shipping Co's government-backed creditors are ready to provide the collapsed carrier with roughly 100 billion won ($90.60 million) of loans if Hanjin's parent provides collateral, South Korean government officials said on Tuesday.The funding, however, is seen as falling far short of what the world's seventh-largest container carrier needs after filing for court receivership last week when its creditors, led by Korea Development Bank (KDB), decided to halt support. Click here to read full stories.
Sep 05 - Putin: OPEC Oil Freeze Is "The Right Decision" - And Saudi Agrees On Condition Of Unanimous Participation
However, the point is raised once more that a freeze won't help the market.
Sep 05 - RBC: Expect Oil Markets To "Be Sloppy Until Year-End"
But oil in the $40s does not bother some U.S. shale producers.
Sep 05 - Banks Need to Play a Bigger Role in the Uptake of More Fuel Efficient Tonnage: CWR
Financiers are in a key position to reshape the makeup of the global shipping fleet through their investment decisions," says European Investment Bank.
Sep 05 - World's Largest LNG-Powered Ethane Carrier Classed by ABS
Navigator Gas had announced that it had taken delivery of the newbuild hybrid ethane/ethylene carrier, Navigator Aurora, in August.
Sep 05 - Caterpillar to Provide Propulsion to World's "Most Fuel Efficient" Ferries
Caterpillar Marine will provide engines and required gear boxes to Stena Line's four new Ro-Pax ferries.
Sep 02 - MOL Aims to Use Artificial Intelligence to Forecast Bunker Prices
MOL has signed a contract with Yokohama National University to conduct a joint study on the analysis and use of "big data" related to ocean shipping.
Sep 02 - World Fuel Services to Close Connecticut Office: Sources
WFS has not yet publicly commented on the matter, but a source has told Ship & Bunker CT staff have the opportunity to move to its New Jersey office.
Sep 02 - Nine Percent Drop For Crude Heralds Biggest Weekly Decrease In Eight Months
Investor focus on growing U.S. stockpiles is responsible for the drop.
Sep 02 - Saudi Wants A Freeze And Prices North Of $60, Say OPEC/Industry Sources
Higher prices would benefit the kingdom's sale of state-owned Armaco.
Sep 02 - Lowering GHG Emissions Gives Better Than Expected Bunker Cost Savings: Study
The study found savings for a capesize were nearly $1.5 million annually.
Sep 02 - No Longer Any Financial Benefit for TC Owners to Make Their Vessels More Fuel Efficient
"Efficient vessels do not appear to deliver significant rewards for anyone other than the fuel payer," a new study concludes.
Sep 01 - Shipowners slash costs, leaving some crews unpaid, unsafe as downturn bites
Unpaid, underfed, and thousands of miles from home on a rusting tanker, captain Munir Hasan says he is a victim of a shipowner who has slashed costs in the face of an eight-year shipping downturn. Marooned on the medium-sized tanker Amba Bhakti that is moored close to Shanghai and is in urgent need of repair, Hasan claims he and his crew of four from India and Bangladesh have not received their wages from the owner, Varun Shipping, since February and are now owed tens of thousands of dollars.
Sep 01 - More Hanjin ships seized, as freight rates surge and cargo owners fret
Hanjin Shipping Co Ltd vessels have been seized at Chinese ports in the wake of the South Korean firm's collapse, further roiling the industry as freight rates jump and manufacturers scramble for alternatives. Seeking to contain the fallout, a South Korean court said it would soon begin proceedings to rehabilitate the carrier - which would allow Hanjin to take legal action in other countries to keep its ships and other assets from being seized.
Sep 01 - Weak freight rates push S.African shipping firm Grindrod to H1 loss
Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects demand for commodities to pick up this year. Africa's biggest shipping group, which is present in 37 countries worldwide, reported a headline loss per share of 50.8 cents for the six months to June 30 versus a profit of 43.6 cents a year earlier.
Sep 01 - Hanjin Panamax Arrested in Singapore
The 1998-built Hanjin Rome was detained on Monday.
Sep 01 - Saudi Arabia Sends Mixed Signals About Adding to a "Saturated" Global Market
In the same interview, the kingdom stated it won't further flood the market but will, however, meet consumer demand at any price.
Sep 01 - On Again Off Again Iraq Is On Again For An OPEC Production Freeze
Prime Minister Haidar Al-Abadi says the drop in oil prices is causing volatility in his country.
Sep 01 - Sixth of Eight Eco-Friendly LNG-Ready Tankers Launched for Sea-Vista
The Constitution is a 50,000 DWT LNG-conversion-ready product tanker.
Sep 01 - Hanjin Shipping Files for Court Receivership as Creditors Withdraw Backing
Move paves the way for what could be by far the biggest ever container shipping failure.
Aug 31 - ABB Turns to Torque Monitoring for Latest Bunker Saving Tech
"The shipping industry is turning to technology to make their fleets more efficient," says ABB's Juha Koskela.
Aug 31 - SK Shipping Chooses Dual-Fuel Engines for 2 New LNG Carriers
The engines are capable of burning LNG, HFO, MDO, and MGO.
Aug 31 - Oil Prices Drop as Iran Does About Face and Declares Production Increase By Year End
The Islamic republic plans to boost output by 200,000 barrels per day.
Aug 31 - Maxum Petroleum Announces New Bunkering Vessel
The 150,000 gallon vessel is said to have six pairs of cargo tanks that provide capacity for 3,700 barrels of MGO and 24,000 gallons lube oil.
Aug 31 - Crude Down for a Second Day
Bunker prices were again softer in the primary ports.
Aug 30 - Decision on Sri Lanka Bunkering Project Depends on China Talks, Says Minister
"We are awaiting proper advice from the government regarding the Chinese," says Sri Lanka Ports Minister Arjuna Ranatunga.
Aug 30 - Iraq, Not Saudis, Earmarked As The Likely Heavy In The September Freeze Talks
Bloomberg's Julian Lee says the country is in full-tilt expansion mode.
Aug 30 - Pre Freeze Talk Weeks Will See Turbulent Oil Market And 10 Percent Swings: Analyst
Other experts wonder how long the market will swing between $45 and $50 with no real direction.
Aug 30 - Wärtsilä and Gasum Partner to Develop Marine LNG Markets
The companies have signed an agreement to develop the use, distribution, and service solutions for natural gas in marine and onshore applications.
Aug 30 - Crude Down as US Dollar Pressures Prices
Bunker prices were softening in the primary ports.
Aug 29 - Three More Decisions Go Against Physical Suppliers Claiming for Unpaid Bunkers in the US
Aegean and CEPSA are among the latest suppliers to be told they do not meet the criteria for a maritime lien as per CIMLA.
Aug 29 - World Fuel Services-John Keells Holdings JV Among Bids for Hambantota Bunkering Operations: Reports
Adani Bunkering, CPC, and CPSTL also submitted proposals.
Aug 29 - Venezuela, Iran Hold Oil Price Stability Talks
Venezuelan president Nicolas Maduro says further related announcements will be made in the coming weeks, but provided no specific details.
Aug 29 - Kawasaki System Meets Tier III NOx Requirements Without Bunker Consumption Penalty
K-ECOS uses exhaust gas recirculation and emulsion fuel among other technologies.
Aug 29 - U.S. FMC "Stops the Clock" on Proposed Ocean Alliance
Commissioner William P. Doyle has voted to in favour of a RFAI from the parties of the proposed "Ocean Alliance," pausing progress on alliance approval.
Aug 29 - Shipowners slash costs, leaving some crews unpaid, unsafe as downturn bites
Unpaid, underfed, and thousands of miles from home on a rusting tanker, captain Munir Hasan says he is a victim of a shipowner who has slashed costs in the face of an eight-year shipping downturn.Marooned on the medium-sized tanker Amba Bhakti that is moored close to Shanghai and is in urgent need of repair, Hasan claims he and his crew of four from India and Bangladesh have not received their wages from the owner, Varun Shipping, since February and are now owed tens of thousands of dollars. Click here to read full stories.
Aug 29 - Hapag-Lloyd CEO says planned UASC merger benefits to show in 2017
German container shipping line Hapag-Lloyd expects to reap a third of targeted annual synergies of $400 million from its planned merger with Arab rival UASC next year, and realise them fully from 2019, its CEO said on Friday.The company, which swung into the red in the first half of this year as tumbling freight rates hurt its business, signed a binding agreement with United Arab Shipping Company (UASC) in July to form the world's fifth largest shipping company by the end of 2016. Click here to read full stories.
Aug 26 - Kilduff Trashes Reliability Of Any OPEC Freeze Deal, But Croft Puts Faith in Saudi's Conciliatory Tone
Meanwhile, oil prices drop again with news of U.S. supply build-up.
Aug 26 - Crude Up Again On Iran Declaring Participation In Algeria Freeze Talks
The Saudis claim they are interested in what their "colleagues" have to say.
Aug 26 - BG Freight Line Orders Four Fuel Efficiency Container Ships for the Irish Sea
The move is said to be driven an effort to control costs in the face of tightener environmental regulations.
Aug 26 - Iran Eyes Involvement in Nicaragua Alternative to Panama Canal
Foreign Minister Mohammad Javad Zarif discussed the country's possible involvement in the project during a visit to Nicaragua on Tuesday.
Aug 26 - War of Words Heats Up Over Gibraltar LNG Bunkering
GSD has accused HMGoG of taking a "u-turn' over the matter.
Aug 26 - Port of Shenzhen to Adopt China ECA Regulation from October 1
The ECA regulations require ships at berth in affected ports use fuel with a sulfur content of no more than 0.5 percent.
Aug 25 - Baltic Exchange board backs SGX bid for London firm
The Baltic Exchange board has unanimously backed a takeover bid from Singapore Exchange Ltd, a deal that will give SGX access to a trading platform for the multibillion-dollar freight derivatives market. The exchanges have agreed on the terms of the SGX offer, they said in a joint statement on Monday, with Baltic shareholders entitled to 160.41 pounds per share plus 19.30 pounds per share as a final dividend, giving the business a total valuation of about 87 million pounds ($114 million). Click here to read full stories.
Aug 25 - Weak freight rates push S.African shipping firm Grindrod to H1 loss
Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects demand for commodities to pick up this year. Africa's biggest shipping group, which is present in 37 countries worldwide, reported a headline loss per share of 50.8 cents for the six months to June 30 versus a profit of 43.6 cents a year earlier. Click here to read full stories.
Aug 25 - Crude Down as EIA Reports Rising US Inventories
Bunker prices were soft in the primary ports.
Aug 25 - EU Recommends Co-Funding for Containerships' LNG-Powered Vessels
Containerships says the recommendation is a "remarkable recognition" of its environmental strategy.
Aug 25 - Swedish Government Orders Study on NOx ECA Impacts
The Swedish Government says it will investigate the impacts that a NOx ECA in the Baltic and North Seas will have on Swedish industry.
Aug 25 - Norsepower Receives €2.6 Million Funding for Bunker Saving Rotor Sail Tech
The funding is said to be intended to support R&D, including the development of the world's largest Flettner rotor.
Aug 25 - Damen to Provide AEC Scrubbers to Marine Markets
To date AEC Systems has been mainly focused on land-based scrubber systems.
Aug 25 - New Singapore Bunker Industry Association Established
ABIS will largely focus on working with small and medium-sized bunker companies in order to enhance business service quality.
Aug 24 - Two Small Tankers Arrested in Singapore
Vessels are connected to Malaysian and Vietnamese interests.
Aug 24 - Goldman Sachs Dismisses Freeze Talks as Counterproductive, but Crude Bounces on Iran Indicating it Might Support Them
Other unnamed sources take the mainstream view that the upcoming Algeria talks are pointless.
Aug 24 - Port of L.A. Takes Another Step Towards Zero Emissions
California's ARB says Mayor Eric Garcetti has appointed a new advisory board to support the reduction of carbon emissions at the Port of L.A.
Aug 24 - Iran Says Bunkering Capacity Up 33%, but Sector Needs More Investment
"Small-scale activities would not be able to compete in the international arena," says PMO Managing Director Mohammad Saeednejad.
Aug 24 - Credit Suisse: More Negatives Than Positives for Crude Prices, But No Move Back Into The $30s
And again, freeze talks are dismissed as irrelevant.
Aug 23 - Aegean to Redeploy Singapore Barge to New "Beneficial" South African Operation
M/T Tilos is expected to arrive in South Africa in September, Aegean tells Ship & Bunker.
Aug 23 - Iran Readies Oil Deals With Russia, China
The swap plus two key oil field developments will boost Iran's flourishing international status.
Aug 23 - As Crude Drops 3%, Consultant Predicts a Bottom of the $30s With Real Demand Not Occurring Until 2017 or Later
China exports of diesel and gasoline are blamed for Monday's losses along with a steadily increasing U.S. rig count.
Aug 23 - UOB Lists Itself as a $112M Creditor of Searights
The next hearing in the winding up petition is scheduled to be heard this Friday, August 26, 2016.
Aug 23 - Crude Prices Start the Week Down
Bunker prices were softer in the primary ports.
Aug 23 - LNG Bunkering Among Proposed Projects as AG&P Makes "Major Investment" in Korean Firm
Philippines-based AG&P and GAS Entec will work together to provide a variety of products including LNG bunkering systems.
Aug 23 - Baltic Exchange board backs SGX bid for London firm
The Baltic Exchange board has unanimously backed a takeover bid from Singapore Exchange Ltd, a deal that will give SGX access to a trading platform for the multibillion-dollar freight derivatives market. The exchanges have agreed on the terms of the SGX offer, they said in a joint statement on Monday, with Baltic shareholders entitled to 160.41 pounds per share plus 19.30 pounds per share as a final dividend, giving the business a total valuation of about 87 million pounds ($114 million).
Aug 22 - Technical Analysts Say Oil Heading to $62, Others Insist Fundamentals Mean a Plummet to $30s
For bunkers, in the high case it would mean IFO380 hitting $350/mt.
Aug 22 - Pakistan Eyes Expanding Bunker Market Through China Deal
Arif Elahi, PNSC Chairman, says that the company is interested in developing its bunkering business because of the sector's promising future in the region.
Aug 22 - The Buck, Not The Talks, is Driving What Will be a Short-Term Rally: Cantor Fitzgerald
Cantor's chief market strategist predicts a $35-$45 target for oil in the near future.
Aug 22 - Shenzhen Biaodian Orders 11 Newbuild LNG Bunker Barges
Shenzhen Biaodian will also acquire two LNG bunkering barges from Huaqiang Natural Gas.
Aug 22 - Bunker Price Jump of "Some 60%" Weighs on d'Amico TCE Earnings
DIS reports that is TCE earnings were $144.5 million in the first half of 2016, compared to $158.1 million during the same period of 2015.
Aug 19 - Crude Up for a Sixth Consecutive Day
Bunker prices continue to rise in the primary ports.
Aug 19 - Nigeria Doubts OPEC Will Cut Production, As Report Predicts Militants Will Keep the Country's Output Low In 2017 Anyway
But Nigeria's oil minister still thinks the September talks could be productive.
Aug 19 - Oil Market Now In Bull Territory, Based Precariously On Sentiment: Analysts
Hope for an OPEC freeze deal has caused both benchmarks to rise over 20 percent from the lows of early August.
Aug 19 - Weekly Vessel Scrapping Report: 2016 Week 32
Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from August 11 – August 18, 2016.
Aug 19 - Vroon Singapore Looks to Micanti Antifouling to Reduce Fuel Consumption
VOS in Singapore says it has chosen Micanti Antifouling to boost bunker savings of its AHTS vessel, VOS Triton.
Aug 19 - Former OPEC Head Says "Conditions are Set" for Oil Freeze, As Saudis Signal They're Heading For Record Output
Meanwhile, critics point to Nigeria as a prime example of a nation that won't be interested in any proposed cuts.
Aug 18 - Shipping traffic suspended in Turkey's Bosphorus after collision - shipping agent
Traffic in Turkey's Bosphorus Strait, a key international shipping lane for oil and grain, was suspended on Wednesday after a bulk carrier collided with a coast guard boat, shipping agent GAC said.Six people were rescued and taken to hospital, a spokesman at the office of the Istanbul governor said. Click here to read full stories.
Aug 18 - Hong Kong shipping group calls for aid to crew on arrested coal ship
The Hong Kong Shipowners Association (HKSOA) on Thursday called on the city's authorities to provide assistance to the crew of a Hong Kong-flagged coal ship off the east coast of Australia that is running out of food and fuel.Local Australian media and Great Britain's Guardian newspaper reported this week that the Five Stars Fujian, a 180,000 dead weight tonne capsesize class coal carrier, has been sitting in the middle of the Great Barrier Reef for the past month with supplies diminishing and salaries going unpaid. Click here to read full stories.
Aug 18 - Philippines' Global Ferronickel may resume China high-grade ore shipments
Global Ferronickel Holdings Inc, the Philippines' second-largest nickel producer, said on Monday it may resume shipments of higher grade ores to China in the second half of 2016 when prices are anticipated to improve further.The company expects a "better performance" in the second half, after booking losses in the first half on lower volumes and prices, and pass an audit by the government, which has launched a crackdown on miners violating environmental rules. Click here to read full stories.
Aug 18 - Dubai's DP World says delaying Jebel Ali port expansion
DP World, one of the world's largest port operators, is delaying the expansion of Dubai's Jebel Ali port, its main facility, because of softer market conditions, the company said on Thursday.A plan to add 1.5 million 20-foot equivalent units (TEU) of annual capacity to Terminal 3 at Jebel Ali will be delayed into 2017, while expansion of Terminal 4 will also be slowed, DP World said without giving details. Click here to read full stories.
Aug 18 - Former OPEC Head Says "Conditions are Set" for Oil Freeze, As Saudis Signal They're Heading For Record Output
Meanwhile, critics point to Nigeria as a prime example of a nation that won't be interested in any proposed cuts.
Aug 18 - Analysts, Including Pimco, Believe The Magic Oil Price For Rebalance is $50
Anything higher will trigger incremental supply in the U.S., they say.
Aug 18 - Crude Up for a Fifth Day
Bunker prices continue to increase worldwide.
Aug 18 - Aegean Marine Petroleum Network Founder Steps Down, Company to Buy Back his 22% Stake
Dimitris Melissanidis founded the bunker company 21 years ago.
Aug 18 - Founder of Singapore Top 10 Bunker Supplier Resigns
Panoil Petroleum's Roland Pang said the decision to resign was made in order to spend more time his family.
Aug 18 - Update: "Hijacked" Products Tanker Vier Harmoni "Taken by Own Crew"
The MMEA says it is believed the vessel and her cargo, worth an estimated RM1.57 million ($400,000), has been taken to Batam, Indonesia.
Aug 17 - Products Tanker Vier Harmoni & Cargo Hijacked off Malaysia
The MMEA says it is believed the vessel and her cargo, worth an estimated RM1.57 million ($400,000), has been taken to Batam, Indonesia.
Aug 17 - Venezuela Heading For Steepest Oil Output Drop in 14 years, Now An International Supply Risk
But for the meantime, Venezuela's woes appear to be a gain for the market.
Aug 17 - Oil Rally Continues As UBS Warns Of Pointlessness Of OPEC Stabilization Talks
UBS says a freeze is likely just as difficult as the failed attempt back in April, but arguably not as needed.
Aug 17 - OPEC Freeze Expectations Still Drive the Oil Markets Today
Bunker prices were firm again today.
Aug 17 - Sri Lanka Again Turns to China to Develop Hambantota, but Critics Say its Being "Given Away" to Settle Debts
The government is said to have made the move as part of an effort to minimise the losses that it has incurred through the project.
Aug 16 - TSA Defends "$228M Overcharge" Bunker Cost Calculation
"The Panama Canal expansion has only just opened so it's a little early to be making assumptions about how it will impact carrier's bunker costs," TSA tells Ship & Bunker.
Aug 16 - Increased Traffic from Expanded Panama Canal Will Be a "Major Challenge" for New York-New Jersey, Says BMI
BMI Research says the problems that the port of New York-New Jersey will have in taking advantage of increased traffic will be short term.
Aug 16 - Sentiment And Symbolism is Driving Oil Price Surge - Once Again: Analyst
Other experts worry that the 10 percent market gain over the last three trading days will lead to a correction.
Aug 16 - Russia/Saudi Price Stability Talks Developing In "Tangible" Way: Energy Minister
Alexander Novak says his nation is ready to implement joint measures that will improve the global market.
Aug 15 - Crude Prices Continue to Rise
Forecasters are still predicting an active Atlantic Hurricane season and all it will take is some strong winds for oil prices to move even higher.
Aug 15 - Bourbon Suspends Dealings With Monjasa Over Nigeria "Illegal Bunkering" Ruling
The Paris-headquartered company cites "Compliance rules" as the reason for the move.
Aug 15 - Crude Gains Continue, but Analyst Warns Defending Market Share Will Remain Top Priority For Saudis
They also warn that low prices will be a fleeting consideration in the long term.
Aug 15 - Kenyan Cabinet Approves Bid To Pump Oil Commercially By 2017
An estimated 750 million barrels of recoverable reserves will be tapped starting next summer.
Aug 12 - Global container throughput growth slumps (Alphaliner)
- Global container throughput is expected to grow by only 0.3% this year, as the weak volume growth recorded in the first half of 2016 dragged full year volume projections down. This year is expected to yield the second lowest annual growth rate since 2009, when a record year-on-year decline saw global container volumes shrink by -8.3% in the aftermaths of the Lehman Bros failure.
- Total throughput at the world’s top 30 container ports is estimated to have grown by only 0.2% in the first six months of the year, with weak growth recorded across all main regions. The top 30 ports currently account for over half of the global container throughput, with aggregated volumes reaching 184.57 Mteu during the first half of the year, compared to 184.28 Mteu in the same period of 2015.
- Out of the top 30 ports, twelve have reported volume reductions, including six ports that are ranked in the top ten. Among the main losers were Hong Kong (down 10.5%), Dubai (down 6.1%), Singapore (down 5.1%), Tanjung Pelepas (down 2.8%) and Rotterdam (down 2.3%). The world’s busiest container port, Shanghai, also reported a –0.8% reduction in total throughput at 17.89 Mteu for the first half of 2016 compared to 18.03 Mteu last year.
Aug 12 - Venezuela Oil Production Falls To 40 Year Lows As OPEC Admits To Lower-Than-Predicted Global Demand
OPEC also cites more refined products as "adding to the oversupplied market".
Aug 12 - Competitively Priced, ECA Compliant, Sustainable Biofuel Bunkers Will be a Reality in the Near Future
"Developing the first of anything is always going to cost more," Chuck Red, Vice President at Applied Research Associates tells Ship & Bunker.
Aug 12 - Bunker Jobs: Global Trading House Seeks Singapore-Based Senior Trader / Sales Manager
We are also opening this role to experienced tanker / dry bulk Charters / Brokers in Singapore who are looking to make a career change.
Aug 12 - Intertek ShipCare Launches New Flagship Investigative Service Focused on New "Non-Traditional" ECA Fuels
The new Intertek ShipCare PT5 Organic Deposition initiative is designed to identify potential issues with the stability and compatibility of all marine fuels.
Aug 12 - Bunker Saving Antifouling Solution Selektope Launched Into Mainstream Market
CMP says Selektope is now available to the mainstream market through its new generation SEAFLO NEO product line.
Aug 12 - GAC Hails its "New Generation" of Bunker Traders
Aug 11 - Singapore's SGX urges Baltic Exchange shareholders to back bid for historic London firm
Singapore Exchange Ltd (SGX) plans to buy one of London's oldest institutions, the Baltic Exchange where shipping rates are published, and urged shareholders on Thursday to support a deal. As the global shipping industry struggles with the worst market conditions for decades, SGX offered shareholders in the privately-owned Baltic Exchange 160.41 pounds in cash per share, for a total 77.6 million pounds ($102 million). Click here to read full stories.
Aug 11 - Port Hedland July iron ore shipments to China drop 6 pct from June
Iron ore shipments to China from Australia's Port Hedland terminal used by BHP Billiton and Fortescue Metals Group, declined to 32.5 million tonnes in July from a record 34.5 million tonnes in June, port data showed. Metals traders cited fewer cargoes of stockpiled ore at the world busiest port of its kind for the drop. Click here to read full stories.
Aug 11 - "Desperate" Venezuela Calls For Freeze Talks Despite Critics Dismissing Them As An Empty Gesture Or Not Needed
One analyst states that only Saudi Arabia can alleviate Venezuela's economic woes.
Aug 11 - Saudi Arabia And Iran Pump Record Volumes As Analysts Warn Again of Supply Glut
The news sent oil prices down again after a modest one-day rally.
Aug 11 - IBIA Members Push for Transitional Issues Associated with 0.50% Global Sulfur Cap to Be Raised at IMO
Some members argue that the 2020 date could present a "huge risk" that the 0.50% cap will be widely ignored.
Aug 11 - Russian Player Reports Massive Drop in Bunker Volumes for First Half of 2016
Revenues of the company's bunkering division fell to $3.1 million during the first half of 2016, compared to $66.2 million during the same period of 2015.
Aug 11 - Singapore Hits 100 Mass Flow Meter Bunker Tanker Milestone
As not all vessels are expected to get MPA approved MFMs, it means about 75% of those projected to be fitted with MFMs have now done so.
Aug 10 - Oil Companies Face $110-billion in Debt, Default Rates Are Rising: Moody's Most of the debt is junk-rated.
Aug 10 - OPEC Predicts Higher Oil Demand This Year But Analysts Say The Cartel Now Has Little Influence Over Prices
Basic economic cycles will push oil into the $50s, says one expert.
Aug 10 - Russia, Azerbaijan, and Iran Eye Alternative to Suez Canal Route
The countries are said to be undertaking a "flag-ship project" to utilise the International North–South Transport Corridor.
Aug 10 - OOCL Slashes 41% From 1H 2016 Bunker Bill
But the box carrier still posts a $56.7 million loss.
Aug 10 - July ReCAAP Report: Hijackings of Ships for Theft of Oil Cargo has Decreased
The report indicates that there was a total of four reported incidents of armed robbery against ships reported in Asia during July.
Aug 09 - Oil Pros Say Time to Buy Oil is Now as Prices Are Heading Towards $51
Ship & Bunker data suggests such gains would add around $40/mt to IFO380 bunkers in the Primary ports.
Aug 09 - New Conventional and LNG Bunkering Facilities Planned in Suez
The first phase of the project is slated for completion by 2017's first quarter, Arab Petroleum Pipelines Company tells Ship & Bunker.
Aug 09 - TS Taipei Wreck Removed from Reef 5 Months After Grounding and Bunker Spill
The TS Taipei, which grounded off Shimen, Taiwan in March, caused a large bunker spill after the vessel fractured in the middle.
Aug 09 - Canadian Capital Launches Country's Largest Electric Propulsion Tour Vessel
The 100-passenger vessel, named The Queen Elizabeth Dr., is the first of two such planned vessels.
Aug 09 - Resurfacing Oil Freeze Rumours Boost Prices, Rekindle Debate Over Its Efficacy
While some cite several reasons that things might be different this time, as before, critics warn that freeze talks are little more than opportunistic P.R.
Aug 08 - Wild Ride Ahead for Bunker Prices as Bank Predicts Volatility with $25-$90 Crude Spread Over the Next Few Years
Saudi Arabia is said to be keen on the volatility and could reap huge rewards.
Aug 08 - Independent Fuel Availability Study Suggests "Extreme Difficulty" in Meeting Demand for 0.50% Sulfur Cap in 2020
The study reaches an opposite conclusion to an IMO commissioned study.
Aug 08 - Gazpromneft Marine Bunker Moves to Round the Clock Supply in Murmansk
Gazpromneft says the initiative is a cooperative effort with Gazprom Oil and Gazprom Neft - Lubricants Ltd.
Aug 08 - Port's Reduction in Emissions of SOx Dismissed as "Old News"
"There's still an emission issue, whether it's a health issue or not we don't know," says local residents association.
Aug 08 - Singapore Set for Tightening Fuel Oil Market
After a huge volume of fuel oil was traded in Singapore earlier in the year, supplies that had to be placed into floating storage are now almost empty.
Aug 05 - Industry Insight: The Growing Challenges of Managing Slops Disposal: A Sustainable Alternative
The European Sea Ports Organisation (ESPO) has placed ship and port waste as a 'top ten' environmental priority for European ports in 2016.
Aug 05 - Venezuela in Renewed Effort to Raise Oil Prices as OPEC Output Slips in July
Venezuela is reportedly hoping the cartel will discuss a production freeze in September.
Aug 05 - Finnlines Financials Boosted Through Use of Fuel Oil + Scrubbers for ECA Compliance
The ECA ferry operator notes that it has successfully completed scrubber installations on 18 out of 22 of its ro-ro and ro-pax vessels.
Aug 05 - As WTI Climbs 6% in 24 Hours, Noted Trader Warns of "Violent" Upward Reversal in Prices
Andy Hall is the latest expert to offer an outlook that runs contrary to conventional wisdom.
Aug 05 - The End of Legacy Yahoo Messenger: A Reminder of What We Should be Doing.
"We urge our colleagues at Monjasa to use the telephone, and actually have an 'old fashioned dialogue'," Monjasa tells Ship & Bunker.
Aug 05 - Today Yahoo Ends Support for "Legacy" Yahoo Messenger. This is What you Need to Know.
Introduced 18 years ago, Yahoo has been the messenger of choice for the bunker industry.
Aug 05 - Singapore's SGX urges Baltic Exchange shareholders to back bid for historic London firm
Singapore Exchange Ltd (SGX) plans to buy one of London's oldest institutions, the Baltic Exchange where shipping rates are published, and urged shareholders on Thursday to support a deal. As the global shipping industry struggles with the worst market conditions for decades, SGX offered shareholders in the privately-owned Baltic Exchange 160.41 pounds in cash per share, for a total 77.6 million pounds ($102 million).
Aug 04 - Singapore Exchange looks to buy London's Baltic Exchange for $103 mln
Singapore Exchange Ltd (SGX) said it planned to offer 77.6 million pounds ($103 million) to buy London's Baltic Exchange and was seeking support from Baltic's shareholders for the deal. In a statement on Thursday, SGX said it sought to acquire from Baltic shareholders their issued ordinary share capital for 160.41 pounds in cash per share, representing a total consideration of 77.6 million pounds. Click here to read full stories.
Aug 04 - With eye on China, India doubles down on container hub ports
An Indian conglomerate has started building the country's first transshipment port, conceived 25 years ago, and the government will construct another $4-billion facility nearby to create a shipping hub rivalling Chinese facilities in the region. New Delhi will grant billionaire Gautam Adani 16 billion rupees ($240 million) so-called "viability gap" funding to help the new port at Vizhinjam, on India's southern tip, win business from established hubs elsewhere in Asia. Click here to read full stories.
Aug 04 - Still waters: U.S. to crack down on ocean noise that harms fish
The ocean has gotten noisier for decades, with man-made racket from oil drilling, shipping and construction linked to signs of stress in marine life that include beached whales and baby crabs with scrambled navigational signals. The United States aims to change that as a federal agency prepares a plan that could force reductions in noise-making activities, including oil exploration, dredging and shipping off the nation's coast. Click here to read full stories.
Aug 04 - Bunker, Emissions Reduction Technology Could Radically Impact Future Shipping Patterns
"If you look at the options, you can see that some solutions are only really viable for certain sizes of vessel," Dr Michael Traut tells Ship & Bunker.
Aug 04 - Maersk Line Says it Has No Plans to Acquire HMM
Robbert Van Trooijen, Maersk Line's Asia Pacific CEO, says 2M is cooperating with HMM in an effort to enhance its trans-Pacific capacity.
Aug 04 - Port of Rotterdam Set For First LNG Bunkering Operation
Terntank's LNG-powered product tanker Ternsund is slated to arrive at the Port of Rotterdam on August 8, where it will be bunkered with LNG.
Aug 04 - Poseidon Med II Holds Workshop on Potential for LNG Bunkering at Heraklion Port
The port is said to be expected to "play an important role in the introduction of LNG as marine fuel in the East Mediterranean."
Aug 04 - Port of Tacoma LNG Bunkering Station Gets Easement Approval from Northwest Seaport Alliance
The Northwest Seaport Alliance approved two easements for Puget Sound Energy's project on Tuesday.
Aug 03 - World Fuel Services Under Investigation by US Department of Justice
WFS says the investigation pertains to matters related to its aviation, rather than marine, activities.
Aug 03 - Investment Reductions Will Significantly Change Supply and Demand Dynamics As Early As This Year: ABN Amro
A separate analyst calls the reduction "a ticking time bomb" that will benefit U.S. shale.
Aug 03 - US Crude Falls Under $40/bbl, But Bulls See Opportunity
Now's the time to invest in U.S. majors, says analyst.
Aug 03 - Top 5 Singapore Bunker Supplier's Vessel Detained on Suspicion of Illegal Bunkering
The bunker vessel was one of three detained by Malaysian authorities on Sunday.
Aug 03 - Bunker Sales Volume at Vladivostok Continues to Show Dramatic Decline
For the seven months to July bunker sales at Vladivostok are about a third of the total for the period last year.
Aug 03 - Monjasa Issues Winding Up Order Against Singapore's Searights
"We have sought to reach a solution with our counterpart for a considerable time period but the issue remains unresolved," Monjasa tells Ship & Bunker.
Aug 03 - Singapore Exchange prepares formal offer to buy UK's Baltic Exchange - sources
Singapore Exchange Ltd (SGX) is readying a formal offer to buy London's Baltic Exchange following months of discussions that culminated in exclusive talks between both parties, sources familiar with the matter said on Tuesday. Founded in 1744, the privately-owned 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.
Aug 02 - Analyst Calls Singapore a "Parking Lot" of Product as Oil Dips Under $40
Diverse circumstances are also causing analysts to predict that oil will "go lower from here."
Aug 02 - Baltic Dry Index Could Still Return to Record Lows of February: Precious Shipping CEO
The Baltic Dry Index sits at 650 after breaking the 700 mark in July.
Aug 02 - Panama Canal Authority Refutes Media Reports of Three Collisions Since Expansion Opening
ACP has confirmed just one incident of a vessel scraping a wall at the new dock on the Atlantic side of the newly expanded Panama Canal.
Aug 02 - Petrobras Begins Offering RMK500 at Port of Santos
The company further noted that "ISO 8217:2010 specification for residual marine fuels is guaranteed."
Aug 02 - Analysts: Expect Little Impact From New OPEC Chief As Low Prices Create Further Discord In The "Hibernating" Cartel
Mohammed Sanusi Barkindo's monumental task is to resolve disputes within the organisation.
Aug 02 - IBIA Asia Establishes Singapore Bunker Surveyor Sub-Committee
IBIA Asia has established the sub-committee to support the development of standard operation procedures on MFM for bunker surveyors in Singapore.
Aug 01 - Another Player Exists Singapore Market After MPA Revokes AC Oil's Bunker Licences
The MGO only supplier had not even held the licences for a complete year.
Aug 01 - Bomin Appoints New Director of Global Sales
Henrik Robdrup will "support the company's ambitious growth plans," says Bomin.
Aug 01 - Verifying Eco-Technologies: How Third Parties Can Help Commercial Credibility
Never before has it been so important for technology manufacturers to be able to prove their value.
Aug 01 - IBIA Asia in "Ideal" Position to Train Industry on MFM Use, Says Organisation
IBIA says it plans to offer a one day general course on MFM beginning in September, called "Familiarisation on Bunker Mass Flow Metering."
Aug 01 - Anadorko and Hess Foresee $60 Crude in 2017 And Resumption Of U.S. Activities
The companies shared their optimism as crude made its biggest monthly loss in a year.
Aug 01 - Kilduff Warns of $35 Oil And "Knockout Blow" To Many Companies
The analyst's comments come on the heels of a dismal week for the market and poor Q2 reports from producers.
Aug 01 - Singapore Bunker Suppliers: Top 20 Player Searights Out, Maersk Oil Trading In
The number of suppliers in the world's biggest bunkering port remains at 59.