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Nigeria: OPEC Will Need a "Very Urgent" Meeting if Prices Don't Recover

Emmanuel Kachikwu says OPEC is still hoping prices will recover by February.

OPEC Secretary-General: Low Oil Price Cycle "Will Not Continue"

Abdullah al-Badri says oil prices will rise in "a few months or a year."

Russia Prepares for $30 Oil in 2016, Which Could Mean $115 Bunkers in the Primary Ports

Russia has also played down earlier suggestions of further OPEC/ Non-OEC talks.

Trafigura Forecasts Tougher Market for Tankers in 2016

While lower bunker costs supported earnings in all tanker segments during 2015, Trafigura says 2016 will bring tougher conditions for the tanker market.

ExxonMobil Launch First Independently Accredited MFM System for Bunkering in Hong Kong

The mass flow metering system, accredited by Lloyd's Register, is said to enable "significant" time and cost savings during bunkering.

Baltic Dry Index Slumps to Fresh All Time Low of 484

A notable decline in the Capesize Index has brought the Baltic Dry Index to the lowest level since the metric began tracking in 1985.

Crude Futures Edge Up

The following days should play a pivotal role in market direction.

Adrian Tolson Launches New Consultancy, 20|20 Marine Energy

New firm to help companies create and implement strategies for purchasing and selling marine energy, and develop bunkering infrastructure.

Oceanfleet Engineers Indicted in U.S. Over Illegal "Magic Pipe" Discharge

The nine-count indictment charges two Oceanfleet Shipping Limited engineering officers with illegal discharge of oily wastes directly into the sea.

Shipping Industry Welcomes New UN Climate Change Agreement: ICS

International Chamber of Shipping says despite explicit mention of shipping, industry will "engage meaningfully" on emissions after a new UN agreement.

Iran Prepared for "Worst Case" Low Oil Price Scenario, "Absolutely No Chance" it will Delay Oil Production Plans

"Our general assumption is on a market with low prices, so the price can drop as low as possible," says Iran's deputy oil minister.

Maiden Voyage for Germany's First-Ever Newbuild LNG-Fueled Vessel

German power firm Wärtsilä has hailed the maiden voyage of the nation's first newbuild vessel powered by liquefied natural gas.

Iran Looks to Reduce Fuel Oil Output with Refinery Upgrades

Abbas Kazemi, Managing Director of the NIORDC says that Iran is in talks with foreign companies to upgrade the country's refineries after years of sanctions.

Quadrise Signs Deal to Apply Emulsion Fuel Tech to Proprietary Grade of Oil Residue

The contract was said to cover pilot-scale testing with extra-heavy hydrocarbon residues at the Quadrise Research Facility.

Drewry: Box Carrier Mergers Will Not Do Anything to Improve Sector Profitability in Medium Term

Drewry says last week's merger announcements mean it merely shuffles the excess number of ships into fewer hands.

Update: Tanker Arrested in Singapore

M/T Nautilus Pioneer is owned by Vietnam-based Prime Shipping.

Singapore Posts Another Huge Month of Bunker Sales, 2015 Now Almost Certain to be Biggest Year Ever

For 2015 Singapore has a very real chance of being close to, if not exceeding, the 45 million mt mark.

Heavy Volatility for Crude Futures

The outlook for crude is still bearish and we can expect prices to stay down for quite some time.

COP21: No Reference to Shipping in Final Climate Deal, Green Groups Voice Disappointment

Green groups say climate deal goals can not be achieved unless shipping, along with aviation, "urgently rein in their emissions."

OOCL: CMA CGM's NOL Acquisition Not Expected to Impact G6 Alliance in 2016

NOL's APL is a member of the G6 Alliance, but fellow member OOCL says it "assures that its current service structure will remain stable."

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