World News

ExxonMobil: HDME 50 is Compatible With MGO

"No compatibility issues were identified when mixing ExxonMobil Premium HDME 50 and gas oil, either during lab tests or on-board trials."

12 Feb 2015

WTI and Brent Prices Continue Down

Bunker buyers will have better leverage to book stems five to seven days from ETA.

11 Feb 2015

U.S. Uptake of 0.1%S ULSFO Remains Low

"Prices have fallen so much that, unless Brent hits $100/bbl again, the vast majority of buyers will most likely stick with diesel," says veteran trader.

11 Feb 2015

Dry Bulk Carriers Join Forces to Save Bunker Costs, Tackle "Competitive and Fragmented" Capesize Market

Capesize Chartering will coordinate the resources of its member companies which hope, in particular, to reduce bunker consumption and other costs.

11 Feb 2015

LNG Bunkers are Win-Win In the Long Term, Says European Operator

United European Car Carriers said that LNG ships are a good choice considering vessels operate for 25-30 years.

11 Feb 2015

Mega-containerships Could Be "Nightmares" For Insurers

Larger containerships are at larger risk of disastrous accidents, which may lead to billions in losses.

11 Feb 2015

Iran: Fuel Oil Revenue Up 30% Despite Sanctions

Iran earned $1.35 billion on sales of 3 million tonnes of fuel oil in the 10 months to January 21, 2015, official claim.

11 Feb 2015

Crude Prices Retreat

Bunker buyers right now need to buy as needed and not worry about market direction until a clear trend reveals itself.

10 Feb 2015

Stena Line Ferry Collides With Bunker Barge

Several crossings have been cancelled after the ferry sustained damage but no bunker spill has been reported.

10 Feb 2015

Industry Insight: The Shipping Industry's Response to ECA 2015

Operators have had to balance multiple compliance options with the need to balance long term and short term considerations.

10 Feb 2015

Maltese Players Protest WFS Exclusive Storage Deal, Officials Say They Were Unable to Tender Local Companies

Local companies argue there should have been a tender process, but local players were not suitable, says Energy Minister.

10 Feb 2015

KPMG Singapore, PwC Sign Agreement to "Maximise Recovery" of OW Bunker Receivables

The firms Friday agreed a plan for the "prompt collection" OW Bunker Far East's receivables in order to pay creditors owed $330 million.

10 Feb 2015

Tanker Over-ordering "Will Prove The Sector's Ruin"

"The short term outlook remains very positive with modest fleet supply growth and strong cargo demand anticipated for 2015," says Drewry, however.

10 Feb 2015

Aegean Launches Marketing And Trading Division

The new division will have offices in Piraeus, Singapore, Hamburg and St Petersburg.

10 Feb 2015

Oil Prices Continue to Make Gains

Supply continues to be abundant while demand is tepid.

9 Feb 2015

Fast Steaming Won't Return Until Bunker Price Falls to $200 pmt

Even though bunker prices have fallen, freight rates remain so low that fast steaming does not make commercial sense, says Box Ships CEO.

9 Feb 2015

Claims "Pouring In" at Bankrupt Copenship

Half of claims are coming from bunker suppliers but there will be little to share amongst ordinary creditors, says trustee.

9 Feb 2015

Shipowner Warns that Dry Bulk Market is "Collapsing"

The Baltic Dry Index has fallen to its lowest point in almost three decades.

6 Feb 2015

Singapore Bunker Trader to Fold Following OW Bunker Exposure

Opet Singapore will close after six years selling fuel oil in the world's largest bunker market.

6 Feb 2015

Tanker Deputy Captain Killed in Pirate Attack

Maltese-flagged Kalamos was attacked off Nigeria on Tuesday, with one death and three hostages taken among 23 crew.

6 Feb 2015