Archive News

May, 2017
Date	Headline	Image
Thu25May	OPEC's Cutback Efficacy Questioned Prior to Vienna, Analyst Describes Its Medium Term Pricing Power as "Zero" However, other analysts say at least the cartel won't be harmed by the proposed sale of U.S. reserves.
Wed24May	Crude Prices Dip Despite "Almost Certain" Oil Cuts Extension One analyst warns that further market disappointments may occur later this week.
Wed24May	IEA: Shipping "Not on Track" for 2025 Emission Reduction Targets "Implementing IMO's final GHG strategy only by 2023 will have very little impact on the possibility of meeting 2025 2DS targets," says IEA.
Wed24May	Gazpromneft Marks 10th Season of Bunker Supply to Royal Caribbean Cruises During the 2017 summer season, Gazpromneft says the cruise operator will receive up to 45,000 tonnes of bunkers.
Wed24May	Stolt-Nielsen Orders Two Small-Scale LNG Ships with Bunkering Capabilities Stolt-Nielsen says the two vessels will also be able to operate on either diesel or LNG as fuel.
Wed24May	Norway to Provide Financing for BWM and 2020 Retrofits Export Credit Norway says as many as 60,000 vessels will need to be retrofitted scrubber systems by 2020 and ballast water treatment systems by 2021.
Wed24May	Titan LNG Claims Doubled Speed for LNG Bunkering Titan LNG says it bunkered the Fure West on Friday using equipment that draws the flow from two trucks into one bunkering hose, known as the T-piece.
Wed24May	Scorpio Tankers Inks Merger Agreement with Navig8 The agreement will see Scorpio Tankers acquire Navig8's 27 operating product tankers.
Wed24May	World's First LPG-Fuelled COGES Ferry Design Meets HAZID Requirements Meeting HAZID requirements is a key milestone in ensuring the final success of the LPG COGES ferry design process, says GE.
Wed24May	More Rumours of OPEC Agreeing to Extension Mitigated by Goldman Sachs Warning of 2018 Glut Resumption The real problems will begin when the extension draws to a close, says Goldman Sachs.
Wed24May	Trump Reserve Selloff Proposal Raises Security Concerns but Backed by Analysts Who Forecast Oil Demand Plummeting Others note that selling oil bought for just over $29 per barrel at today's prices is a wise business move.
Tue23May	Aegean Q1 Revenue Doubles as Bunker Sales Volume Rises 5.6% "Our results in the quarter were impacted by increased competition across operations and continued challenging market dynamics," says Aegean's President.
Tue23May	World Fuel Services to Highlight Marine Fuel Issues at Nor-Shipping Topics include MFMs in Singapore, 2020 global regulations, fuel and lube choices, and working with a strong counterparty within the marine environment.
Tue23May	Newly Christened Ferry Hailed Among the "Cleanest Operating in American Waters" The vessel, known as Lunch Box, is powered by two efficient Tier III certified Baudouin 6M26.3 main engines.
Tue23May	Naming Ceremony Marks First European-Built LNG Bunker and Distribution Vessel The naming ceremony was held Monday for the 5,800 cbm Coralius.
Tue23May	Increased Iranian Output Capability and Venezuelan Woes Could Obliterate or Aid Saudi Claim of Market Rebalance Saudi's energy minister once again boosts the efficacy of the OPEC cuts prior to Vienna.
Tue23May	Oil Prices Rise as Talk of Longer, Deeper Cutback Consensus Grows But at least one observer thinks Iraq could make an output cut extension difficult.
Mon22May	Latest Arbitration Over Fuel Consumption Dispute Finds in Favour of MAN Refund to IM Skaugen The tribunal found that MAN should pay a total of approximately €5.3 million, as well as around €1.4 million for IMS' legal and other costs.
Mon22May	Europort 2017 to Feature Masterclass on EU MRV and Vessel Efficiency The masterclass is part of a series at Europort 2017 that is intended to enable knowledge and experience sharing on key topics facing the shipping industry.
Mon22May	Poseidon Med II Project Sees LNG Bunkering Discussion in Patras LNG as an eco-friendly fuel in Patras is said to have been the focus of discussion during an event held at the Greek port city on Friday.