World News

Crude Prices Continue to Fall

There will be volatility on this ride down the chimney, but the gravity of the situation is that the big oil producers are pushing for this to happen.

3 Dec 2014

Glander International Bunkering Makes 10 New Hires in Dubai, India, and Singapore

"Our new team members are extremely experienced and we are grateful that they have chosen to be a part of the Glander International Bunkering Group."

3 Dec 2014

OW Bunker Subsidiaries Look to Carry On, Distance Themselves From Bankruptcy

The head of OW Bunker's Rotterdam business says "we had better think of ourselves first."

3 Dec 2014

Swiss Traders to Hire Nearly 40 Ex-OW Bunker Staff in Singapore, North Asia Expansion Bid

Mercuria has launched a bunker trading office in North Asia with 17 ex-OW Bunker staff and seeks a further 12 to bolster Singapore office.

3 Dec 2014

Emissions Reduction Firm Expands into Europe

U.S. emissions reduction technology firm Triton has created a new Swedish subisdiary as it eyes the European market.

3 Dec 2014

Hapag-Lloyd and CSAV Complete Merger

The companies cleared the last of its regulatory hurdles earlier this week.

3 Dec 2014

New ECO Cruise Liner Promises Significant Bunker Savings

Seabourn's new luxury cruise ship is the second order from Fincantieri.

3 Dec 2014

Crude Prices Resume Downward Slide

Iraqi and Kurdish governments have reached an agreement that sets the stage for an increase in supplies.

2 Dec 2014

Bunker Detectives Establish Subsidiary in Panama, Eyes Further Expansion into Middle East Bunkering Market

"The goal is now to capture the Middle East bunkering market by establishing an office perhaps in Dubai or Fujairah," says CEO Kaivan Chinoy.

2 Dec 2014

Barbados Port to Give Incentives to Fuel Efficient Vessels

The port will team up with ship vetting company Rightship.

2 Dec 2014

Turkish Bunker Supplier Launches Second Barge Fitted with Mass Flow Meter

The M/T Kalamis-E is the second "new generation" bunker barge to be launched by Turkey's CYE Petrol with an onboard MFM system.

2 Dec 2014

Caterpillar Claims World's First In-Hull LNG Retrofit

Caterpillar has successfully completed the world's first in-hull dual-fuel engine retrofit.

2 Dec 2014

Oil Rebounds, but Bunkers Dip Below $400 MT

It remains to be seen how long low oil prices will be sustained, as such buyers should take opportunity when they have it.

1 Dec 2014

KPMG: OW Bunker Collection Pact Does Not Extend to Singapore Subsidiaries

Clarification comes after Pricewaterhouse Coopers says it will pursue all global receivables assigned and charged to ING.

1 Dec 2014

New BIMCO Clause Aims to Avoid Ship Arrests by Suppliers Over Unpaid Bunker Bills

BIMCO said that it "is a provision with some teeth."

1 Dec 2014

Møller-Pedersen Text Message Exchange Before OW Bunker Collapse is Revealed

The CEOs of Dynamic Oil Trading and OW Bunker exchanged messages about exposure to Tankoil Marine Services days before OW Bunker collapse.

1 Dec 2014

Oil Could Sink as Low as $55 per Barrel, Pushing Bunkers Under $300 per MT

Prices, however, should quickly rise to consolidate at $75-80 per barrel, he said.

1 Dec 2014

OW Bunker China Seeking Court Protection

Receivers will be contacting shipowners and charterers over unfulfilled bunker payments.

1 Dec 2014

Plummeting Crude, Bunker Prices Unlikely to Change Slow Steaming Practices

"Cargo won't pay for shorter transit times," says Masterbulk CEO Nicholas Fisher.

1 Dec 2014

Deep Sea LNG-Fuelled Ships Target Trans-Atlantic Price Arbitrage

Eight LNG-fuelled ships being built for Evergas are due to set sail next year as Ineos aims to bring U.S. gas and ethane to Europe.

1 Dec 2014