World News

Still No Mention of Shipping in New Thursday Draft of COP21 Climate Deal

The European Union says it betrayed "unacceptable levels of low ambition."

11 Dec 2015

New LR Standards For Low-Flashpoint Fuels To Cover LNG Bunkers, Others

Lloyd's Register has announced a new notation for low-flashpoint fuels, to regulate the growing number of vessels carrying liquefied gases in bulk.

11 Dec 2015

Excluding Shipping from COP21 Deal Won't Stop Industry Progress On Emissions: ICS

Inclusion of language on shipping emissions would be useful but not critical as part of UN climate change talks, says The International Chamber of Shipping.

11 Dec 2015

China COSCO President Resigns, Singapore Subsidiary Warns of Loss

Jiang Lijun resigned as Executive Director and President for China COSCO, effective December 8, says the company.

11 Dec 2015

ECSA Wants Shipping Back in COP21 Climate Deal

"We firmly believe that deleting any reference to shipping... is a missed opportunity," said Patrick Verhoeven, ECSA Secretary General.

11 Dec 2015

OPEC's Oil Output Hits Three-Year High

November's 31.695 million barrel per day total exceeds the anticipated 2016 demand for OPEC crude.

11 Dec 2015

Brent Closes Below the Critical $40.00 Threshold

WTI front month contracts softened $0.40 cents lower since last close, settling at $36.76 per barrel.

10 Dec 2015

Alphaliner: Idle Containership Count Heading for All-Time High by End of 2015

The number of unused containerships globally hit another five-year high at the end of November, at 1.4 million TEU.

10 Dec 2015

Weekly Vessel Scrapping Report: 2015 Week 49

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from December 3 – December 9, 2015.

10 Dec 2015

LR: Financial Returns Biggest Obstacle in Shift to LNG Bunkers

In a new interview, Nick Brown, Brand and External Relations Manager at Lloyd's Register, says LNG has "global opportunities" but financing is critical.

10 Dec 2015

World Fuel Services Among Creditors Formally Objecting to Bomin's $5M Offer for Bunkers International

"The Debtors have not even attempted to address why they are now prepared to proceed with the same $5 million offer they spurned just a few weeks ago."

10 Dec 2015

Shipping Dropped From Latest Draft of COP21 Climate Deal

"I don't know who got it out but we are fighting for it to be put back in," says EU Energy and Climate Commissioner Miguel Arias Canete.

10 Dec 2015

Star Bulk Sells 4 Dry Bulk Carriers

Star Bulk Carriers has agreed to sell 2 Capesize And 2 Kamsarmax Vessels vessels for $122 million.

10 Dec 2015

Evergas Orders Four Dual Fuel, ECO-Design Liquid Ethane and Ethylene Carriers

The four 32,000M3 capacity liquefied ethane and ethylene carriers come with the option to purchase two more in the future.

10 Dec 2015

BMT to Conduct Marine and Port Assessments for Nicaragua Canal

BMT says its subsidiaries, BMT Asia Pacific and BMT ARGOSS, have been selected by the Hong Kong Nicaraguan Development to assist with the project.

10 Dec 2015

Crude Slips Despite Draw in US Stocks

We can expect crude inventories to rise again after the New Year with the current imbalance in supply and demand.

9 Dec 2015

Upstream Oil Projects Will Aggravate Oversupply and Exceed Demand : Total

Total's CEO's concerns contrast a more positive outlook he expressed in January.

9 Dec 2015

Swedish Club Advises on Ways to Reduce Risks When Using Intermediaries to Buy Bunkers

The Club recommends charters and owners take specific steps to mitigate the chance of competing claims.

9 Dec 2015

Crude Futures Finish Relatively Flat After a Day of Heavy Volatility

We urge bunker buyers to take advantage of the current market to help alleviate some of the pressures they face in the freight markets.

8 Dec 2015

Tanker Rates to Decline Next Year On Fleet Expansion, Floating Storage Demand

Analysts at Drewry see tanker rates coming under pressure in 2016 as newbuilds are delivered and floating storage becomes less abundant.

8 Dec 2015