World News

VPS Hires New Managing Director for Americas

Michael McNamara starts his new position January 12

9 Jan 2015

U.S. Navy Commander Pleads Guilty to Accepting Prostitutes, Trips as Bribes

Jose Luis Sanchez leaked confidential navy information to a Singapore-based U.S. marine defence contractor.

9 Jan 2015

Crude Oil Prices Traded Flat Thursday

Bunker buyers can expect more volatility with pricing in the weeks ahead as a cold winter in North America and geo-politics play into market indicators.

8 Jan 2015

Weekly Vessel Scrapping Report: 2015 Week 1

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from Jan 1 - Jan 7, 2015.

8 Jan 2015

OW Bunker: From IPO to Bankruptcy - Part 2, Fall Brings Bad News

The 7th of October announcement the Company started disclosing new important features of the pursued risk management strategy.

8 Jan 2015

Collapsing Oil Prices May Mean Less Ship Scrapping

Owners and operators may be tempted to keep aging ships around to to take advantage of cheaper bunkers.

8 Jan 2015

Small Gain for Crude After Surprise Inventory Drop

Some are speculating that the oil markets may be at an intersection after losing so much value recently.

7 Jan 2015

Monjasa Opens New Panama Office

The office will open next month with between 5-10 staff.

7 Jan 2015

Brent Follows Falls to New Five Year Low After European Price Cut

It is widely speculated that Saudi Arabia's decision to slash prices to Europe sparked a new slide in prices.

7 Jan 2015

OW Bunker: How One of the World's Largest Marine Fuel Traders Went From IPO to Bankruptcy - Part 1, Founding to IPO

OW Bunker, a company founded in 1980, went public with an IPO in March 2014, and filed for bankruptcy on November 7, 2014.

7 Jan 2015

Crude Benchmarks Tumble for the Second Consecutive Day

Investors are still looking for a bottom while bunker buyers hold out hope that their search continues on.

6 Jan 2015

New Email Suggests OW Bunker Management Knew About Tankoil Debt in September

An email allegedly sent to OW Bunker CFO Morten Skou dated late September informed heads that Tankoil had a debt of $97 million.

6 Jan 2015

MOL "Moves into a Counteroffensive Year" with 20,000 TEU Box Ship Orders

The new fleet will help to combat the effect of falling freight rates which have sent MOL into a deficit this fiscal year.

6 Jan 2015

Altor Made More from OW Bunker than Originally Thought

"It underlines the absurdity of [claims] that Altor was not able to find a solution as OW Bunker got in trouble," says DSA's Jens Møller Nielsen.

6 Jan 2015

Moore Stephens: 2015's Fragile Shipping Industry Could See More Companies Follow OW Bunker into Bankruptcy

However, shippers should still keep a positive mindset

6 Jan 2015

"Revolutionary" Bunker-Saving System Reduces Fuel Consumption by up to 18%

The system represents the culmination of 10 years' work by Skaar and is said to utilise software developed by NASA.

6 Jan 2015

Engineer Raises Safety Concerns over Ferry Operator's LNG Conversion Plans

Det Norsk Veritas had a conflict of interest to say WSF's plans are safe, says Chief Engineer Alex Zecha.

6 Jan 2015

New Board Appointment at World Fuel Services

Jorge L. Benitez spent over 33 years at Accenture, and was most recently Chief Executive of North America.

6 Jan 2015

Bunkers Starting with a "2" Now Firmly in Place

Avails of 0.1% ECA friendly MGO seem to be in order once again with suppliers ready to supply it in many locations around the world.

5 Jan 2015

WTI Drops Below $50 per Barrel to Lowest Point in 5 1/2 years

Brent also dropped below $55 per barrel as production glut continues.

5 Jan 2015