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Market Headed for "Big Trouble" Due to Rising Shale and No Evidence of Positive Impact from OPEC Production Cuts

Investors indicate they believe oil is stuck at $55/bbl.

Iraq Set to Lead Massive OPEC Production Increase as Cartel's Secretary General Says 'So Far, so Good' on Oil Deal

Meanwhile, Kilduff doubts Russian cutback commitment or further Saudi participation.

Ian Workman Joins VPS

The well-known industry veteran has over 30 years' experience in the bunker industry.

Handymax Bulk Carrier Arrested in Singapore

The 1995-built Hong Harvest was arrested on Sunday following action by Clasis LLC.

HELCOM Agrees to Green Tech and Alternative Fuels Work Plan

The group's work is said to focus on the development and enhanced use of green technologies and alternative fuels, including LNG and methanol.

Spanish Dockers Call Off Strike Action Once More

Unions have called off the first two of nine scheduled strike dates set for this month.

Singapore's Mercator Lines Granted Extension of Judicial Management Order

An extension was granted for a further 90 days to May 29, 2017.

USCG Raises and Dewaters Stricken Towing Vessel

On February 26, Sonny J was reported to Watchstanders as partially submerged near Vidalia, with approximately 4,000 gallons of diesel fuel onboard.

Istanbul Supplier Marks Third Year of Consecutive Sales Gains

The company says it has achieved an average annual sales volume increase of 30 percent, and foresees a minimum 20 percent increase for the 2017 year.

Volga Shipping Gleans 5.6 Percent Bunker Savings Through Efficiency Initiative

Volga Shipping says the first stage of its energy-saving programme has improved the fuel consumption by 0.28 tonnes per day.

Corvus to Provide Bunker-Saving ESS to Two Polar Expedition Newbuilds

Corvus' ESS will provide the vessels with supplemental power to improve performance and reduce operating costs and emissions.

Vitol to Buy Petrol Ofisi

For 2015 Petrol Ofisi was Turkey's second biggest bunker supplier by volume with 451,671 mt of product sold.

Baltic Dry Index Breaks Above 900

Clawing back gains lost since January 20, the Baltic Dry Index gained 35 points Friday to reach 939.

A Main Cruise Ship Player Will Make a Commitment to Battery Power This Year: Foreship

"Cruise owners are aware that battery technology has been proving itself in the ferry market," says Head of New Technology Jan-Erik Räsänen.

Rotterdam 2016 Bunker Sales Volume Drop Due to Pricing and Tough Market, Say Industry Sources

One Rotterdam-based buyer suggests shrinking price discount levels may have driven some business to Panama.

Langh Tech Develops Water Treatment System for EGR Systems

Langh Tech has been working with MAN Diesel & Turbo in the development of the water treatment technology intended for use during EGR operation.

General Dynamics NASSCO Delivers Latest LNG-Ready Tanker

The Liberty is the third in a series of three LNG-ready ECO Class tankers ordered by SEA-Vista.

ABS Publishes Advisory on Hybrid Electric Power Systems

The advisory is intended to provide the information owners and operators "need to make smarter decisions about energy generation and storage."

Unplanned Dry Docking for Quadrise's MSAR Bunker Trial Vessel

Quadrise says the Maersk Line vessel's dry dock visit is unrelated to the MSAR operational trial, but "it may impact the overall trial schedule."

Crude Prices Drop Over Russian Oil Output Cuts Stalling in Second Month of the OPEC Initiative

Plus, Russia's energy ministry seems cold on the idea of a cutback extension.

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