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Iran Oil Output Slides, But Will Officially Announce 500,000 bpd Production Hike at Next OPEC Meeting

"We...ask them to respect the 30-million-barrel ceiling which they have agreed," says Iran's Oil Minister Bijan Namdar Zanganeh.

Nustar Energy Sees Improved Results On Increased Storage Demand

Storage lease revenues rose 17 percent in the third quarter of 2015.

Brent Crosses $50/bbl Threshold After a Significant Day of Gains for Crude Futures

Both Brent and WTI contracts for December delivery settled up 4%.

Moody's Upgrades Global Shipping Outlook to "Stable" on Continued Low Bunker Prices

The analyst notes that low bunker prices will also be a driver of "low single-digit percentage aggregate year-over-year EBITDA growth" for the industry.

Egyptian Banks Mulling Another $300M Loan to Suez Canal

The loan is expected to help cover the canal's financial obligations.

Low Bunker Prices the Only Thing Preventing Huge Losses for the Teetering Box Shipping Sector: Drewry

Maersk Line's recent Triple-E lay up along with its guidance downgrade should serve as a wake up call for the industry.

Gulf Petrochem Opens New Al Hamriya Terminal

Gulf Petrochem says its "state of the art terminal" will have total capacity of 203,888 cbm, including 37 tanks ranging from 1,700 to 11,200 cbm.

Karachi Player Highlights Bunker Quality Control

The Pakistani bunker supplier says sourcing bunkers only from local refineries means they can provide "genuine quality bunker products."

Cape Town "Simply Not Designed to Cope" with Ex-Truck Delivery

July's removal of Cape Town's pipeline system for bunkering has increased truck-to-ship fuel deliveries.

MPA Partners on Research Facility for Eco-Friendly Maritime Technologies

The $5.73 million facility, referred to as a "maritime energy test bed," is said to be the first of its kind in Southeast Asia.

Joint IACS and Industry Working Group to Examine Fuel Data Collection

The INTERTANKO organised tripartite meeting also saw concern expressed over the Ballast Water Management Convention entering into force.

IMB Says Southeast Asia Piracy Crackdown "Appears to be Bearing Fruit" but Warns Against Complacency

The organisation says there is reported to have been 190 incidents of piracy and armed robbery against ships so far this year.

Seven Found Guilty of Illegal Bunkering in Nigeria

The crew had been caught by authorities with 1,495 metric tonnes of product.

Ship Operating Costs to Escalate in 2016: Moore Stephens

But the consultant says the anticipated increases are low compared to previous years.

Northern Sea Route, Panama Canal Predicted to Be Major LNG Access Routes to Asia

However, LNG ships face a host of challenges using these two routes.

Oil Benchmarks Begin the Week Soft

Russia took the headlines today as it reported that October saw its highest daily oil production since the dissolution of the Soviet Union.

Monjasa Appoints Carsten Vanting as Head of Credit

Vanting comes from the bunker industry as the former Group Credit Director of the O.W. Bunker Group.

Drewry: Box Markets are in an Over-Capacity Crisis, Next Year Will be Worse

Analysts warn there could be "several years of overcapacity and mounting financial losses."

WFS Ready to Make "Pretty Serious Dent" in M&A Space

The company has seen high cash flows so far in 2015.

"Huge Contraction in Freight Rates" Pulls NOL Back into the Red

"The absence of the traditional third quarter peak season in Europe and North America led to severe freight rates erosion," said CEO Ng Yat Chung.

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