All News

Altor: OW Bunker Management Not Responsible for Bankruptcy

Tor Krusell of Altor says there are "no indications that the management of OW Bunker had information which could have prevented this tragic situation."

31 Dec 2015

Iran Predicts Flooded Oil Market Can Still Hit $50 per Barrel in 2016

But Mehdi Asali says prices won't reach $60 per barrel before 2020.

31 Dec 2015

Singapore-Listed TRIYARDS Wins $21.82 Million Bunker Barge Contract

The barges are said to be slated for delivery in the second quarter of 2018, and are intended to bunker vessels in Taiwan's harbour and coastal areas.

31 Dec 2015

CEO of Dry Bulk Shipper Globus Maritime Steps Down

Dry bulk shipper Globus Maritime said its outgoing CEO and director Georgios Karageorgiou will be replaced by the son of the company's Chairman.

31 Dec 2015

Bunker Player Delivers Positive Energy for the Holiday Season

Rather then send gifts this year, the supplier took the decision to use the funds for charitable work.

31 Dec 2015

Crude Futures Back Under $37/bbl

DOE data showed a build of 2.6 million barrels in U.S. commercial crude stocks.

30 Dec 2015

Industry Insight: Selling Ice to Eskimos

Oil is quickly becoming the unpopular kid at school… and it's not just the really cool kids saying so.

30 Dec 2015

$10 Trillion Required to Avoid Future Bunker Price Spike

But some observers question whether this level of investment is feasible.

30 Dec 2015

OW Bunker Shareholders Welcome Critical Report Released by Bankruptcy Trustees

It is expected that the newly released report by OW Bunker bankruptcy trustees will make it easier for investors to get their money back.

30 Dec 2015

Dry Bulk Gets Boost from Argentina Export Tax Change

Favorable tax changes for agricultural exports from Argentina could raise overall global demand for dry bulk shipping.

30 Dec 2015

New OW Bunker Report is Good News for Investors and Creditors, Says Expert

Søren Friis Hansen of CBS says that those who lost money in the OW Bunker collapse now "have a good chance of getting at least part of their money back."

30 Dec 2015

US Oil Companies Set to Be Sidelined When Iran Sanctions Are Lifted

But all European countries will get carte blanche to conduct transactions.

30 Dec 2015

GUPC, Panama Canal Authority Trade Shots Over Possible Construction Delays

The construction contractor behind the Panama Canal expansion has slammed "excessive and inexplicable" delays by the local authority for the project.

30 Dec 2015

OW Bankruptcy Could Have Been Avoided, Says New Report

Information regarding OW Bunker's oil speculation activities that should have been known by management was not disclosed.

30 Dec 2015

India Working to Replace Diesel with LNG Bunkers for Inland Navigation

A switch to LNG is said to have the potential to bring an estimated 25 percent savings in comparison to diesel.

30 Dec 2015

Thailand's Sea Oil Opens Bunker Trading Office in Singapore

Long-time Southeast Asia bunker player Sea Oil is hoping that its contacts in the region will help it succeed in the world's biggest bunker sales port.

30 Dec 2015

Brent, WTI Move Back Above $37/bll

But OPEC producers are still pumping enough product for there to be another slide in crude oil prices near term.

29 Dec 2015

Palmali Issues Strong Denial that its Ships Were Used for Oil Smuggling

The comments come in response to a Maltese news outlet saying it was reporting the various allegations that are widely available in other press.

29 Dec 2015

Indonesian Navy Launches New Campaign to Combat Piracy

The program will target villages in the Riau Islands, Malacca Strait, and Natuna Island.

29 Dec 2015

Japan Fuel Oil Sales Fall to 56-Year Low

The country's total oil product sales for November fell to a 46-year low.

29 Dec 2015