World News

Tanker Returned to Owner Following Hijacking and Attempted Fuel Theft

The hijackers are reported to have intended to sell the vessel's 4,700 tonnes of diesel fuel on the black market.

15 Mar 2016

Monday Crude Benchmarks Make Downward Correction

WTI and Brent gained 7% and 4% respectively over the duration of last week's trading.

14 Mar 2016

IBIA and the Trident Alliance Partner to Ensure Fair Enforcement of Bunker Sulfur Regulations

The two organisations say that "very little" attention has been paid to how a global sulfur cap for the shipping industry will be enforced.

14 Mar 2016

Maersk Line, Cargill Among SSI Members Pushing for Global Fleet to Cut Bunker Consumption by 20% a Decade

Current fuel efficiency improvements for new ships said to be less than 10 percent.

14 Mar 2016

MAN Diesel & Turbo and Japanese Engine Manufacturer Sign Eco-Engine Deal

Supply of German manufacturer's energy-efficient marine engines to Japanese market complies with stringent, environmental regulations

14 Mar 2016

Baltic Dry Index Achieves Full Month of Gains, Rises to 388

The news comes alongside reports that three Chinese shipping giants have purchased 30 Valemax vessels amid the market's overcapacity.

14 Mar 2016

AkzoNobel Launches Bunker Savings Prediction Tool for Cruise Ships

A new version of Intertrac Vision will incorporate cruise vessels, LNG version to come.

14 Mar 2016

Oil Price Bottom May Have Been Reached, Production Could Slow Further: IEA

The agency says a market balance will be achieved sometime in 2017.

14 Mar 2016

Aframax Arrested in Singapore

The 1992-built tanker was arrested on March 11.

14 Mar 2016

WCI World Container Freight Rate Index Drops to Record Low

Average spot freight rates are just $701 per 40-foot container.

11 Mar 2016

Verifavia Approves Setel Hellas' MRV Solution

Verifavia Shipping says it has assessed Setel Hellas' solution against the requirements of the European Union's new MRV requirement.

11 Mar 2016

Vessel Shows 25% Bunker Reduction from Efficiency Retrofits

The fuel savings have been demonstrated by multiple efficiency technologies retrofitted on three vessels owned by Hammonia Reederei.

11 Mar 2016

Singapore: IBIA Updates Mass Flow Meter Bunkering Course for New TR48:2015 Requirements

In light of the implementation of the new TR48:2015, the IBIA says it has renamed its "Mass Flow Metering Course."

11 Mar 2016

U.S., Russia, Iraq Must Cut Production Before OPEC Takes Output Action: FGE

But the energy consultancy concedes it is unlikely that Iraq will play along.

11 Mar 2016

Singapore Operator Sues for $600,000 Over Alleged Contaminated Bunkers

Legal action has been brought against Kristensons-Petroleum, Minerva Bunkers, Buffalo Marine Services, and the barge Buffalo 90.

11 Mar 2016

Weekly Vessel Scrapping Report: 2016 Week 9

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from March 3 – March 9, 2016.

10 Mar 2016

Oil Markets are "Going to be Volatile for Sure" as OPEC/Non-OPEC Meeting Approaches

Wood Mackenzie thinks 2016 average prices will be lower than 2015 and then recover in 2017.

10 Mar 2016

Drewry Warns Mega Ships Could Diminish Economies of Scale

Drewry suggests that it is possible that the "container megaship new-build arms race will not deliver hoped-for cost benefits."

10 Mar 2016

Bunker Dispute Behind Singapore Vessel Arrest, 2nd Vessel Also Arrested

The vessels were arrested on Tuesday and Wednesday.

10 Mar 2016

WTI and Brent Crude Futures Firm

Bunker buyers expect of a lot of volatility in both directions, near term.

9 Mar 2016