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China COSCO Expects 2 More Tough Years, Eyes Chinese Shipping Partnerships

China COSCO Chairman Ma Zehua says supply imbalance will remain for two years, but the company is looking into partnering with other Chinese shippers.

Torm Earnings Guidance Up, Restructuring Plan Moves Forward

Torm has revised its earnings guidance upwards but still expects a $280-90 million loss for the year, but its restructuring plans are moving ahead.

IEA: Asia Must Reform Market for LNG Expansion

The International Energy Agency said that Asian governments must address its "rigid and illiquid" natural gas markets.

China to Keep Close Eye on 2M Alliance

Chinese regulations are said to be worried over the alliance's large market share on key trade lanes.

Excelerate to Take Lead in Guinea FLNG Project

Excelerate will work with Black & Veatch and SHI to develop Ophir Energy's FLNG project.

ECSA Launches Sulfur Survey to Measure Impact of ECAs

The survey will collect information from ship operators to measure economic impact.

Stena Line Equips Further Vessels with Bunker Saving Technology

Maritime technology company NAPA says Stena Line will add its real time bunker monitoring technology to four more vessels.

Brazil Gives Okay on Hapag-Lloyd, CSAV Merger

The merger is one step closer to completion.

OW Bunker Collapse: No Arrests Despite Confession, Serious Fraud Office Ready to Act

Manager at Dynamic Oil Trading reported to have confessed to the fraud that has been taking place over the past six months.

Weekly Vessel Scrapping Report: 2014 Week 45

Weekly Vessel Scrapping Report: 2014 Week 45

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from October 30 - November 5th, 2014.

OW Bunker Given Until December 1 for Restructuring Plan

"The impact to employees, shareholders, and customers is terrible," says OW Bunker and partner in major shareholder Altor Equity Partners.

Update 2: OW Bunker Expects to be Insolvent, Commences In-Court Restructuring

"it must be assumed that the group's equity is lost," says OW Bunker.

Singapore, Malta Bunker Venture Moves Forward

New joint venture between Singapore's IEG and Malta Enterprise aims to create an energy trading hub in Malta.

Lower Bunker Costs Could Help Maersk to Surpass Profit Expectations

DNB Markets says it expects AP Moeller-Maersk to beat profit predictions due to lower bunker costs.

South Korean Port Mulls LNG Bunkering

The Port of Ulsan is set to launch a feasibility study on LNG bunkering at the port.

IBIA Launches Port Charter for Better Quality Bunkers

The International Bunker Industry Association has launched a Port Charter scheme aimed at ensuring "quality, quantity and transparency."

LNG Market Seeing "Temporary Glut" Says Gas Natural

Oversupply was due to mild weather at the beginning of the year, says CEO Rafael Villaseca.

APM Cancels New Jersey Joint Venture

The project was in partnership with Brookfield Asset Management.

Oil Bounces Back

The build in U.S. inventories was much less than expected.

Update 1: OW Bunker Hit By $125 million Fraud at Singapore Subsidiary, $150 million Mark to Market Loss

Senior employees at Dynamic Oil Trading involved in the fraud, Jane Dahl Christensen dismissed over risk management loss.

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