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Dry Bulk Players Face Reality of Mass Scrapping, Lay-Ups as Baltic Dry Index Sinks to New Record Low of 303

The reality appears to be that there simply is not going to be enough demand to support the current dry bulk fleet at any meaningful point in the future.

Chinese Firm Pulls Out of $680 Million Fuel Oil Deal with Rosneft

The privately owned Chinese company is said to have made the decision following a fall in crude prices.

Star Bulk Sells Another Capesize Carrier for $23.3 million

Star Bulk says it will use the proceeds from the sale to pay down debt related to the vessel and for general corporate purposes.

Oil Prices Will Double Within a Year Even Without Production Cuts, Predicts Analyst

$60 crude would likely see IFO380 bunkers rise to be around $250 to $300 pmt.

Crude Futures Continue to Slide

Bunkers continued to slide in the primary ports today.

Baltic Dry Index Sets New Record Low of 310

The Index has yet to see a single day of gains in 2016.

Environmental Groups Renew Call for Arctic HFO Ban

Fifteen environmental groups deliver letter to Arctic Council meeting demanding heavy fuel oil use be banned in the far north.

Refined Oil Products Stock Build Could Push Up Tanker Rates

Poten & Partners think floating storage may become the preferred storage option.

Two Industry Heavyweights Join Veritas Petroleum Services

Malcolm Cooper has been appointed Group Technical & Business Development Director, Steve Bee will join the company as Group Commercial Director.

Crude Futures Fall

Bunkers were softer today in the primary ports and are heading in the direction favorable to bunker consumers.

Dry Bulk Plunge Continues: Baltic Dry Index Sets New Record Low of 314

There was however a slight gain for capesize rates.

There is a Fundamental Risk for Owners and Charterers When Purchasing Bunkers Through Intermediaries: The Swedish Club

The problems begin "when a different party not being the contractual counter party pursues a claim against the vessel," the Club states.

Industry Insight: What Can Big Data Do for Bunkers?

Industry Insight: What Can Big Data Do for Bunkers?

There is no doubt about the impact that big data will have on the industry in the coming years. But how is it influencing the industry now?

Singapore Fuel Oil Imports from Iran Can Resume After Financial Transactions Ban Lifted

Singapore has cancelled the prohibition on transactions with the Iranian government effective January 28.

Norsepower Rotor Sail's Fuel Efficiency Verification Spurs €3 million Investment, Commercial Order

Norsepower says data analysis and fuel-saving verification has led to €3 million investment  and first commercial order for a Flettner rotor.

Dry Bulk Ends the Week Falling Further to 317

The sector's key index has yet to make a single gain this year.

Shell Announces Shareholder Approval for BG Acquisition

The deal, worth a reported $52 Billion, is expected to create the world's biggest trader of LNG.

Weak Rates Prompt Panamax Owners to Commence Scrapping Earlier Than Planned

One expert thinks all Panamax vessels built on or before 2005 will be scrapped "sooner rather than later."

Baltic Dry Index Falls to 325, 1,430 Vessels Need to be Laid Up to Restore Balance, Says Analyst

Again, average spot TC rates were down across the board, with capesize falling back under the $3,000 per day mark once more.

Crude Futures Continue to Climb, but Fundamentals are Still Bearish

It shouldn't be surprising if crude futures sank back under $30.00 a barrel.

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