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Crude Markets Down on Iran News

Iran agreed to freeze parts of its nuclear program in return for sanctions relief.

Bail Revoked for Crew in Indian Bunkering Case

The Seaman Guard Ohio was detained in connection with alleged violations relating to arms and bunker sales.

Over 20 Chinese Bulkers Detained at Indonesian Ports

Authorities yet to give an explanation of exactly why the bulkers, which have loaded their cargo, are being Detained.

$1bn OW Bunker Listing "in the Foreseeable Future"

"It's clear that this company, with its growth potential and its characteristics, could be very attractive to list," says owners.

WTI at 8 Month Low as US Production Hits 25 Year High

WTI slipped $0.67 to $91.66, while Brent dropped $0.76, ending the session at $106.39.

BIMCO: High Bunker Prices Aggravating Tonnage Oversupply

The group also predicts that environmental regulations will be a serious challenge for the industry in 2014.

New "Major International Port" Considered for Horn of Africa

A new port at Berbera could provide an African / Arab trade hub and export gateway for Ethiopia's $1bn in annual exports.

OW Bunker Inks New $700 million Revolving Credit Facility

Bunker supplier says the oversubscription of the new facility was a "strong sign of confidence in its business model."

WTI Down as Stockpiles Increase

WTI fell to $92.33, down $1.10, while Brent ended the day at $107.15, slipping $0.20.

Quadrise Gives Update on Maersk MSAR Synthetic Fuel Trial

Trials using a Wärtsilä engine are under way at sea, while the MAN Diesel programme is waiting on a land-based engine test.

Crude Benchmarks Rebound

WTI ended the day at $93.67/bbl, up $0.24/bbl. Brent followed suit ending the session at $107.35, rising $0.62.

Euronav Buying Maersk Tankers VLCCs

The company will buy 15 vessels for $980 million, operating them in the Tankers International VLCC Pool.

OW Bunker in Latin American Expansion

The new Colombia office, at the nation's busiest port, is its fifth in Latin America.

Crude Benchmarks Off to a Bearish Start

WTI finished the day at $93.43/bbl, down $0.53 while Brent settled at $106.73/bbl, down $0.16.

Nicaragua Canal Project Delayed by One Year

The alternative to the Panama Canal will "probably" begin construction in 2015.

$1.2B in Further Orders for Scorpio Bulkers

The newly public company contracts for 22 more ships, bringing total orders to 74.

Shell Completes LNG Assets Deal

The deal, which includes facilities in Peru, Trinidad and Tobago and Spain, was worth $3.8 million.

Container Lines Need to Cost Cuts for Profitability in 2014

Carriers will still face overcapacity issues through early 2016, Drewry Singapore director says.

Fuel Savings Expected from New ISO Standard for Hulls, Propellers

The development of the standard is complex, but could help reduce fuel consumption.

Shippers Concerned About P3 Impacts

Global Shippers Forum hopes for "more comprehensive regulatory approach."

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