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Seoul Supports HMM Restructuring, as Separate Reports Suggest Finances Worse than Previously Stated

Audited financial statements of HMM said to reveal slightly larger 2015 losses.

Hanjin Shipping Seeks KRW500 Billion in Savings to Gain Eligibility to Government Fund

The savings are needed to lower its debt-equity ratio, and are expected to be obtained via lay-offs and operating expense reductions.

USCG Removes Safety Zone Following Istra Ace Bunker Spill

The channel is said to now be open to all vessel traffic in L.A. Harbor, although clean-up of efforts are still ongoing.

Gibraltar Looks to New Land Base Storage Project to "Consolidate its Position as the Premier Bunkering Hub in the Mediterranean"

Port Minister Paul Balban says the need for land storage facilities has been talked about "for many years."

Quadrise Reports Progress on Trial Supply Project of Emulsion Bunker Fuel

Commissioning of the production facility at Gibraltar San Roque Refinery is planned for 1H 2016.

ETI Eyes 10% Real World Bunker Savings with New Flettner Rotor Sail Project

ETI is currently looking for expressions of interest to design, supply, fit and demonstrate flettner rotor sail technology on a large OGV, sourced by ETI.

Potential Rise in Shipping Emissions to 17% of Global Total is "Simply Unacceptable" says New UK Chamber of Shipping President

"We need to start now," said the chamber's newly elected President Dr. Grahaeme Henderson.

LNG Bunkers Facing an Uncertain Future in Asia

Cheap oil is slowing the adoption of the alternative fuel in Asia, an IBIA forum has heard.

Skangas to Acquire Norwegian LNG Bunkering Facility

The Gasum subsidiary has signed an agreement with the Lyse Group to acquire the Risavika LNG plant.

Alphaliner: Low Bunker Prices Prompt Increased Sailing Speeds, Detours as Idle Box Fleet Soars to "All-Time High"

Alphaliner's latest weekly report says that the idle container ship fleet reached a new record high of 1.57 million TEU at the beginning of March.

Singapore: MPA Reaffirms ReCAAP's Role in Regional Anti-Piracy Efforts

The MPA Thursday highlighted the "instrumental role" the ReCAAP has played in addressing piracy and armed robbery against ships in Asia.

MOL Gets 1.5% Bunker Savings from Vessel Autopilot System

ACE is said to estimate disturbance factors during a voyage, including wind and tide, optimally controlling the helm to reduce route deviation.

German Shipping Companies Fined $1.5 Million Over Illegal Oil Discharge

The companies, which owned and operated the M/V BBC Magellan, pled guilty to illegally discharging oil into the ocean, among other charges.

Declining Interest Reported in Use of Arctic's NSR from International Shippers

Increased use of such Arctic routes had threatened to impact some of today's key bunkering ports.

Sources: Bunkering Halted at Novorossiysk Due to Bad Weather

Sources at Russia's Black Sea port of Novorossiisk say strong winds and sea swells could persist for up to four days.

Crude Extends Gains

Bunker prices continued to firm in the primary ports.

Weekly Vessel Scrapping Report: 2016 Week 10

Weekly Vessel Scrapping Report: 2016 Week 10

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from March 10 – March 16, 2016.

Recent Ruling Spells Bad News for Physical Suppliers Caught With OW Bunker "Double Payment" Claims

"The significance of the decision is that it prevents the shipowners from being subject to potential double payment for the bunkers," says Jones Walker LLP.

Baltic Dry Index Ends 5 Week Rising Run as Analyst Sees No Real Recovery Until 2018

A period of gains that started on February 12 has come to an end, but the BDI has risen 35.5 percent in that time.

Scorpio Bulkers Announces New Share Float Plans

The dry bulker will offer 21 million common shares, with Scorpio related parties said to already be interested in at least $15 million worth of them.

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