World News

Better Ship Designs, Software, Could Save Shipowners "Up to 30%"

NAPA and SDARI say they're teaming up to capitalise on the rising demand for savings on bunker bills.

5 Dec 2013

Wärtsilä Gearbox Could Reduce Fuel Use 15 Percent

The technology is aimed at vessels that operate at varying speeds

5 Dec 2013

U.S. Navy Behavior with GDMA "Just Constantly Outrageous"

GDMA allegedly inflated the price of bunker fuel by more than $3 million for five fuel purchases in 2011.

5 Dec 2013

Brent and WTI Head in Opposite Directions

Crude declined for the first time in eleven weeks and declining significantly.

4 Dec 2013

Tricks of the Bunker Trade: Bunker Fuel Temperature

Accurate temperature recording is crucial when detecting bunker fuel concealment.

4 Dec 2013

Introduction to Bunker Hedging Tools: Swaps

Swaps provide cash-flow certainty and remove exposure to fuel price spikes.

4 Dec 2013

Greek Shipowner Enters a "New Era" with Eco-Bulker Orders

Eco-design provides "additional competitive advantage" says Euroseas CEO.

4 Dec 2013

New Lubricant Reduces Cold Corrosion Risk

Total Lubmarine says the adoption of modern engines demands new solutions to avoid corrosion.

4 Dec 2013

Bunker Prices Climb as Crude Makes Big Gains

WTI gained $2.22, settling at $96.04/bbl, while Brent gained $1.17 to end the session at $112.62.

3 Dec 2013

Scorpio Spends $652.5 million on 7 VLCCs, And Adds More MR Tankers

Scorpio Tankers now has 53 vessels on order valued at $2.4 billion.

3 Dec 2013

System Promises to Help with ECA Fuel Costs

Alfa Laval says it has revamped its Fuel Conditioning Module for ships using a variety of fuels.

3 Dec 2013

Indian Tanker Gets Fuel Saving Retrofit

MAN Diesel is retrofitting the ship with Kappel propellers, promising fuel savings of 4 percent.

3 Dec 2013

New Player Set to Launch Global Bunker Operations

Soyuz Bunkering Group is understood to be part of Russia's Summa Group and aims to start operations this year.

3 Dec 2013

Bunker Prices Spike as Crude Rises

WTI settled $1.10/bbl higher and Brent gained $1.76/bbl today.

2 Dec 2013

BIMCO Plans Marketing Push for Standard Bunker Contract

Previous efforts failed not because of contract language but insufficient publicity, group says.

2 Dec 2013

TORM Sells Four More Tankers to Creditor

Oaktree Capital Management exercised its rights to the sale under TORM's restructuring agreement.

29 Nov 2013

US Navy Suspends ISS Contracts Over "Questionable Business Integrity"

Valued at some $240 million, the contracts were mostly for supplying ships in the Persian Gulf and elsewhere in the Middle East.

28 Nov 2013

LR Issues Report on LNG as a Marine Fuel

"It is exciting to see how fast the marine industry in North America is turning to LNG," says LR's Global Head of Marketing.

28 Nov 2013

LNG Box Ship Savings "$10 per TEU"

David Bull says that a feeder service carrier could save about $5 per TEU.

28 Nov 2013

Maersk Line Eyes Greater Market Share

In recent years the company has focused on "growing with the market" and increasing profits through cost-savings.

28 Nov 2013