All News

Weekly Vessel Scrapping Report: 2020 Week 35

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue's demolition sales from August 27 – September 2, 2020.

3 Sep 2020

Danish Authorities Fine Two Deloitte Auditors Over OW Bunker Accounts

The Board of Auditors has fined the two Deloitte employees 100,000 Danish kroner ($16,000) each.

3 Sep 2020

Hin Leong Founder's Family May Be Allowed to Keep $75 Million in Assets

The family may be allowed to retain 5% of their assets, estimated at up to $1.5 billion.

3 Sep 2020

Proposed IMO Ban Would Still Allow 84% of Fuel Oil Use in Arctic to Continue: NGO

If adopted, the proposed ban would come into force in July 2024.

3 Sep 2020

GP Global Denies Closing All Desks as Restructuring Continues

All staff have been paid in full this month, according to a company source.

3 Sep 2020

Fire Reported on VLCC Off Sri Lanka

The New Diamond is on fire on its way carrying a crude cargo from Kuwait to Paradip.

3 Sep 2020

Cargill Invests in Maersk Tankers Fuel Efficiency Spin-Off ZeroNorth

The collaboration with Cargill takes the number of vessels using ZeroNorth's Optimise software to almost 1,000.

3 Sep 2020

Fujairah Fuel Oil Stocks Drop to Four-Month Low on Improved Bunker Demand

Heavy distillate and residue stockpiles at the port sank by 14% to 13.318 million barrels in the week to Monday.

3 Sep 2020

Japanese Consortium Seeks to Trial Hydrogen-Powered Ferry by 2024

The companies plan to start a feasibility study for the vessel and its hydrogen supply from this month.

3 Sep 2020

Demand Worries Grip Traders Yet Again, Oil Plummets

But the suddenly bearish sentiment is unjustified, says Flynn.

2 Sep 2020

Monjasa Sees Bunker Sales Grow in Every Month of 2020 Despite COVID-19

Monjasa sold a total of 4.5 million mt of marine fuels last year, up by 10% from the previous year.

2 Sep 2020

Cockett Marine Oil Sees 11-17% Global Bunker Demand Drop in 2020

CEO Cem Saral sees no return to pre-coronavirus demand levels before the middle of 2022.

2 Sep 2020

DFDS Targets 45% Cut in Greenhouse Gas Emissions by 2030

To achieve its aim, DFDS will need to reduce relative GHG emissions by a further 25-35% from 2019's levels over the next decade.

2 Sep 2020

New Technical Guidance Published on Methanol as a Marine Fuel

Classification society Lloyd's Register and industry organisation the Methanol Institute have jointly developed the document.

2 Sep 2020

Strong Manufacturing Data And Vaccine Hopes Give Modest Boost To Oil Prices

Analysts now concede that demand recovery is moving forward after all.

1 Sep 2020

New Partnership Seeks to Set Marine Fuel Sustainability Standards

The Sustainable Shipping Initiative (SSI) and the Copenhagen Business School have agreed to work together on the project.

1 Sep 2020

Maersk Reorganises Ocean and Logistics Division

The Safmarine brand will be integrated into Maersk, and the Damco brand's air and less-than-container load offerings will be combined within Maersk's products.

1 Sep 2020

Four Ships Arrested in Singapore

Banking giant HSBC is understood to be behind two of the arrests as a result of a cargo-related dispute.

1 Sep 2020

NewOcean to Retreat From Hong Kong Bunkering on 'Cut-Throat Tactics' Among Suppliers

Aggressive competition between bunker suppliers and tough conversations with banks are prompting a scaling-down of the company's oil products business.

1 Sep 2020

Monthly Crude Gains, Strong European Performance, But Analysts Still Gloomy

China recovery also better than expected.

31 Aug 2020