World News

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.

21 Dec 2016

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.

21 Dec 2016

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.

21 Dec 2016

Virgin Voyages Places Order for Vessels Designed for Reduced Environmental Impacts

The €2 billion order will see the construction of three vessels, all of which will feature energy recovery systems.

21 Dec 2016

Gazprom and Mitsui Enter New Cooperation on LNG Bunkering

Agreement of Strategic Cooperation covers various areas, including Sakhalin II project expansion and LNG bunkering.

20 Dec 2016

OceanConnect 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.

20 Dec 2016

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.

20 Dec 2016

HMM Mulls 10 Newbuild Orders for Next Year

The possible order, which has been brought to the forefront in anticipation of improved profitability, is intended to replace outdated vessels.

20 Dec 2016

Crude Prices Struggle to Move in Either Direction

Bunker prices were mostly stable in the primary ports.

19 Dec 2016

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.

19 Dec 2016

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.

19 Dec 2016

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.

19 Dec 2016

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."

19 Dec 2016

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.

16 Dec 2016

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.

16 Dec 2016

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.

16 Dec 2016

GTT Signs Multi-Party MOU for Strategic Cooperation on LNG Projects

GTT signed the MoU with Gabadi, Shanghai Aojiheng, and China Merchants Heavy Industry (Jiangsu), which aiming to move into LNG bunkering vessels.

15 Dec 2016

UN-DESA Awards $1 Million Grant to Tunisia Solar-Powered Vessel Project

The grant was awarded to the project "Solar Fuelled Electric Maritime Mobility" by Norway-based non-profit research institute SINTEF.

15 Dec 2016

Weekly Vessel Scrapping Report: 2016 Week 49

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from December 8 – December 14, 2016.

15 Dec 2016

Total Aiming to Be a Key Player in LNG Bunker Market

Total says it plans to double its liquefaction capacity and has also become the latest company to join SEA\LNG.

15 Dec 2016