World News

Singapore Bunker Supplier Added to U.S. Sanctions List

Mid Oil Asia is said to have helped NITC transfer funds while hiding the connection to Iran.

16 Dec 2013

Low Bunker Prices Predicted to Cause Drop in Worldscale Tanker Rates

Marine business consultancy McQuilling predicts an average decline of 4 percent in 2014.

16 Dec 2013

U.S., Hong Kong Collaborate on Emission Issues

The nations' environmental agencies will jointly host a series of workshops on ship emissions.

13 Dec 2013

IEA Raises Estimates for Global Oil Demand

Demand is now expected to rise by 1.2 mbpd in both 2013 and 2014.

13 Dec 2013

Inside Opinion: Is Savvy Trading Causing Reduced Bunker Volumes in Singapore?

Volume is not all that matters any more, and the successful bunker companies are unafraid to walk away from an enquiry.

12 Dec 2013

Narrowing of the WTI-Brent Spread Continues

Brent settled at $108.67, down $1.03 while WTI gained $0.06, ending the session at $97.50.

12 Dec 2013

UASC Mega-Boxships Designed for Fast LNG Retrofit

The ships will be able to be converted to the fuel "in a matter of weeks once the infrastructure is in place."

12 Dec 2013

Tricks of the Bunker Trade: Inflated / Deflated Tank Volumes

Soundings can be inflated during opening gauging by pouring diesel oil into the sounding pipe just before gauging.

11 Dec 2013

US Crude Inventories Fall Three Times the Expected Amount

WTI falls $1.07 to settle at $97.44/bbl, while Brent gains $0.32, to finish Wednesday at $109.70.

11 Dec 2013

Bomin Managing Director Schreiber Leaves Over "Differences of Opinion"

Parent company Mabanaft says Bomin's performance has fallen "short of expectations."

11 Dec 2013

APL Plans 30% Reduction of CO2 Emissions

Vice President Shaj Thayil said better fuel efficiency has huge economic and environmental rewards.

11 Dec 2013

Introduction to Hedging Tools: Caps

A hedger may prefer to retain some exposure to fuel prices while setting an upper limit, beyond which he would be unwilling to pay.

10 Dec 2013

Gains for WTI as OPEC Reports November Production at a 30-Month Low

Brent settled down $0.01, to $109.38/bbl while WTI gained $1.17 settling at $98.51/bbl.

10 Dec 2013

ZIM Claims Progress in Restructuring, G6 Cooperation

The company reduced its losses in Q3 despite a drop in freight rates.

10 Dec 2013

Bunker Prices Soft as Brent-WTI Spread Continues to Narrow

WTI ended the day down slightly by $0.04, to $97.34 while Brent fell $1.64 to $109.39.

9 Dec 2013

BIMCO Announce Ballast Water Management Guide

The guide has been written in association with maritime efficiency information specialists Fathom.

9 Dec 2013

LNG Tanker Newbuilds are "World's Most Environmentally Friendly"

The two tankers will use a large propeller and LNG power to reduce fuel consumption and emissions.

6 Dec 2013

Scorpio Bulkers Launches IPO

The company also announced more ship orders, bringing it to 52 vessels on order.

6 Dec 2013

Brightoil Suspends Geneva, Rotterdam Operations, Relocates Traders to Singapore

Spokeswoman says operations at Brightoil's Tokyo location stopped earlier this month.

5 Dec 2013

Bunker Prices Stable as Crude Benchmarks Close Together

Investors will look to tomorrow's report on non-farm payroll report for further signals on the economy.

5 Dec 2013