World News

Inside Opinion: Could the OW Bunker Collapse Cause a Domino Effect in Singapore?

Credit insurance will be a lot more expensive come renewal time and a lot more compelling than it was for those that don't have it now.

14 Nov 2014

Crude Prices Expected to Erode Further

We are starting to see some suppliers no longer carrying inventory of low sulphur fuel oil 1.0% in some locations.

13 Nov 2014

Weekly Vessel Scrapping Report: 2014 Week 46

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from November 6th - November 12th, 2014.

13 Nov 2014

OW Bunker Collapse: 10-15 Vessels Arrested

Belgian fuel supplier Wiljo said that an arrest warrant has been issued with the help of a French debt recovery company.

13 Nov 2014

Maersk Will Pass on Bunker Savings Following Oil Price Drop

"Falling bunker prices will be transferred to the customers, with some modest delays," said A.P. Moeller-Maersk CEO Nils Andersen.

13 Nov 2014

Brent Dips below the $80/bbl for the First Time Since 2010

OPEC members such as Kuwait and Saudi Arabia have resisted calls to cut output and show no signs of changing their tune.

12 Nov 2014

Maersk Line Q3 Bunker Costs Reduced by $41 million as Profits Rise 24%

Maersk Line has reported a 24 percent rise in profits and $41 million in bunker savings.

12 Nov 2014

Chinese Ports Strictly Controlling Entry of Valemaxes

The 400,000 DWT Valemaxes were banned by China's port authority in 2011.

12 Nov 2014

IBIA Offers Industry Support in Wake of OW Bunker Collapse

IBIA has said it will help individuals and companies impacted by the collapse of OW Bunker.

12 Nov 2014

Singapore's Hin Leong Preparing $1.3 million Lawsuit Against OW Bunker

Hin Leong Trading is preparing court proceedings to recover $1.3 million following the sale of goods.

12 Nov 2014

Wärtsilä: There's a Big Change Going on from Heavy Fuel to Gas

"Anything in relation to gas and that market is interesting for us," says president and CEO Bjorn Rosengren.

12 Nov 2014

MOL, Asahi, Ultranav, and OSG Form Pool of MR Tankers

The fleet consists of approximately 60 medium-range tankers.

12 Nov 2014

Bunker Jobs: World Fuel Services is Growing

Opportunities for Brokers, Traders, Marketing, Finance, HR, and IT.

11 Nov 2014

New Bibby-USM Alliance to Target Chinese Market

The newly-formed company will specialize in in the offshore, LPG, and LNG sectors.

11 Nov 2014

Suez Overtaking Panama Canal on Asia-U.S. East Coast Route

Shippers from Hong Kong and South China have switched routes despite the Panama Canal holding the shorter distance according to Drewry.

11 Nov 2014

Wärtsilä Wins Order for 54 LNG Engines

The fleet of carriers will serve the Yamal LNG project in Northern Russia.

11 Nov 2014

FMC's Lidinsky Calls For "Global Regulatory Approach" to Box Shipper Alliances

Commissioner Lidinsky said box shippers "detest any regulation" and have "an unbridled sense of entitlement."

11 Nov 2014

Skuld: Sub-Contractor Claims May Follow OW Bunker Bankruptcy

Skuld has warned members that sub-contractors for OW Bunker may directly pursue vessels for bunker supplies left unpaid after its bankruptcy.

11 Nov 2014

Top 10 Singapore Bunker Supplier Tankoil Marine Services Implicated in Alleged Dynamic Oil Trading Fraud

Tankoil is said to have been involved in a "credit sleeving" scheme with DOT.

11 Nov 2014

Brent Hits a 4 Year Low

Concerns grow that OPEC will not be cutting prices or production amid the oil supply glut

10 Nov 2014