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Home » News » News Archive - October 2017


News Archive - October 2017

ECSA hails 'progress' at IMO meeting
30 Oct 2017 12:47 GMT
ECSA 'confident' IMO will deliver 'ambitious' plan at next MEPC meeting in April.

Hempel launches bunker-saving antifouling coatings
30 Oct 2017 12:03 GMT
Globic 9500M and Globic 9500S are said to provide 'significant fuel savings'.

Lawyer fined for conflict of interest in OW Bunker case
30 Oct 2017 10:02 GMT
Lawyer representing investors against OW previously performed duties for the bunker firm and its CEO.

Brent above $60 as OPEC/NOPEC extension seems increasingly likely
30 Oct 2017 09:04 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
30 Oct 2017 08:59 GMT
By the Oil Desk at Freight Investor Services.

Singapore to withdraw port dues concession in July
30 Oct 2017 07:24 GMT
Port has urged shipping firms to 'make plans for the transition once the relief measures are withdrawn'.

Skangas performs first small-scale LNG loading at Melkoya Island
27 Oct 2017 14:38 GMT
LNG cargo was supplied to the Skangas-chartered Coral Energy.

Birns: WFS could see improved marine hedging activity and margins with rising prices
27 Oct 2017 11:36 GMT
CFO discusses the positive effect of higher prices on marine performance.

WFS marine: higher revenue, lower gross profit and sales volume
27 Oct 2017 09:53 GMT
Marine segment saw quarterly and nine-month sales volume fall 12.8% and 13.9% respectively.

Bullish sentiment remains; we could see Brent touching $60 today
27 Oct 2017 09:10 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
27 Oct 2017 09:05 GMT
By the Oil Desk at Freight Investor Services.

World Fuel Services posts third-quarter results
27 Oct 2017 07:05 GMT
Marine segment recorded a decrease in gross profit of $6.8 million, or 18.2%.

Cavotec shore power to be installed in Vancouver in H1 2018
26 Oct 2017 15:18 GMT
Cold ironing to be made available at Vancouver's Centerm and GCT Deltaport terminals.

Ship operating costs expected to rise in latest survey
26 Oct 2017 14:03 GMT
Shipping firms forecast increase in lube expenses and express concern about the higher cost of regulatory compliance.

Neste completes Naantali revamp to slash heavy fuel oil production
26 Oct 2017 11:24 GMT
Company estimates that it will be able to achieve an additional margin of at least $5.5 per barrel.

Ecoslops secures EUR 5 million capital increase
26 Oct 2017 09:38 GMT
Proceeds to be used to finance Ecoslops' development in France and abroad, says CEO.

Short-term Brent remains in the upper fifties
26 Oct 2017 08:53 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
26 Oct 2017 08:18 GMT
By the Oil Desk at Freight Investor Services.

Elgas and Astomos sign LPG bunkering MoU
25 Oct 2017 11:24 GMT
Companies to look into collaborating on LPG bunkering projects in the Asia-Pacific region.

Swedish port Trelleborg inaugurates shore power installation
25 Oct 2017 10:07 GMT
Two Stena Line ferries will hook up to electricity during calls at the south coast port.

Oil prices rise to around 6-month high
25 Oct 2017 09:22 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
25 Oct 2017 08:47 GMT
By the Oil Desk at Freight Investor Services.

Wartsila CEO highlights NCL engine and scrubber order
25 Oct 2017 08:01 GMT
Marine orders increased by 35% in the third quarter.

Spectra Fuels launches worldwide bunker broking operation
25 Oct 2017 00:02 GMT
Business is headed by experienced trader Ravi Prakash.

Vopak launches same-time bunkering at Singapore terminal
24 Oct 2017 12:41 GMT
New service is designed to speed up bunkering and reduce congestion.

K Line holds naming ceremony for bunker-saving LNGC
24 Oct 2017 10:55 GMT
Sayaendo-series ship includes a continuous cover integrated with the ship's hull to reduce fuel consumption.

Iraqi oil production and OPEC compliance
24 Oct 2017 09:12 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
24 Oct 2017 09:00 GMT
By the Oil Desk at Freight Investor Services.

Engie: Downstream LNG activities not part of strategic review
24 Oct 2017 08:09 GMT
French firm confirms that it is in talks with Total and other unnamed companies.

Rotterdam achieves best quarter since Q2 2016, but nears worst calendar year this decade
23 Oct 2017 13:13 GMT
Best fuel oil result in five quarters, but MGO sales were lowest in nearly three years.

Vitol to acquire Noble Group's oil liquids business
23 Oct 2017 11:31 GMT
Sale is expected to close by the end of the year.

Corvus to power first hybrid fish farm processing vessel
23 Oct 2017 09:34 GMT
Orca Energy ESS to supply electrical power to Hav Line ship's propulsion system.

Drop in oil rigs, geopolitical tensions and OPEC comments keep prices in upper 50s
23 Oct 2017 08:24 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
23 Oct 2017 08:19 GMT
By the Oil Desk at Freight Investor Services.

Second large LNG-powered bulker launched for ESL Shipping
20 Oct 2017 15:43 GMT
Haaga and sister vessel Viikki are due to start operating in the Baltic Sea in H1 2018.

MHI targets development of gas-fuelled ships
20 Oct 2017 12:42 GMT
Shipbuilder aims to enter into business partnerships where it can leverage its technological expertise.

Wartsila in maintenance deal for eight LNGCs running on dual-fuel engines
20 Oct 2017 11:27 GMT
Tie-up is in addition to the previous agreement with Gaslog, which covers seven other vessels.

Kandla invites bids to provide shore power to ships: source
20 Oct 2017 09:51 GMT
Planned facility would be able to supply electricity to up to four vessels at a time.

Brent dropped as traders apparently went for profit-taking
20 Oct 2017 08:03 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
20 Oct 2017 08:00 GMT
By the Oil Desk at Freight Investor Services.

Peninsula Petroleum to launch bunker supply operation in LA/Long Beach
19 Oct 2017 14:43 GMT
New service, which will comprise a storage facility and dedicated barge fleet, is due to start in January 2018.

Europe's first LNG bunkering pontoon enters construction phase
19 Oct 2017 10:15 GMT
Kooiman Marine Group leads construction consortium.

Clean Marine secures EGCS contract for seven chemical tankers
19 Oct 2017 10:04 GMT
Agreement marks the launch of the CleanSOx Compact Hybrid Allstream scrubber.

EIA inventory stats showing same tendency as API, but with less magnitude
19 Oct 2017 08:57 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
19 Oct 2017 08:51 GMT
By the Oil Desk at Freight Investor Services.

NCL completes scrubber retrofits for two cruise ships
19 Oct 2017 08:45 GMT
The Norwegian Jade and Norwegian Sun both had five exhaust gas cleaning systems installed.

Wartsila to supply dual-fuel 34DF engines for four LNGCs
18 Oct 2017 12:21 GMT
Delivery of the engines is slated to commence in the second half of 2018.

DFDS bookends century of ships with PureSOx scrubbers
18 Oct 2017 11:07 GMT
First ever PureSOx order was for the DFDS vessel Ficaria Seaways back in 2009.

Port of Rotterdam to study clean fuel bunkering facility at Krabbegors
18 Oct 2017 09:25 GMT
All fuels supplied at the bunker station would be required to produce fewer emissions than traditional fuels.

Oil and fuel oil hedging market update
18 Oct 2017 08:16 GMT
By the Oil Desk at Freight Investor Services.

U.S. oil stocks, geopolitical tensions in focus
18 Oct 2017 07:51 GMT
By A/S Global Risk Management.

Gazprom and Mitsui discuss LNG cooperation in meeting
18 Oct 2017 07:17 GMT
Discussions focus on small- and mid-scale LNG and the construction of the third train at the Sakhalin II LNG plant.

World Fuel Services appoints former IBM CIO Jeff Smith as COO
17 Oct 2017 13:05 GMT
Appointment follows the recent addition of IT specialist Stephen Gold to the company's board of directors.

LA, Long Beach to consider approving Clean Air Action Plan Update in November
17 Oct 2017 11:35 GMT
Document would guide emissions reduction strategies for the next 20 years.

ExxonMobil breaks ground on lube R&D plant and engine testing centre
17 Oct 2017 10:05 GMT
Energy major looking to consolidate research capabilities under one roof.

India's shipping minister holds methanol fuel talks
17 Oct 2017 08:52 GMT
Nitin Gadkari is keen to reduce pollution, fuel and transport costs whilst sourcing coal locally to make methanol.

Strong Asian demand and increasing tensions in the Middle East
17 Oct 2017 08:42 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
17 Oct 2017 08:09 GMT
By the Oil Desk at Freight Investor Services.

HMM CEO evaluates 2020 fuel compliance options, says tech solutions should be shared
16 Oct 2017 12:53 GMT
'Many options and related uncertainties' are making decision-making difficult, says C.K. Yoo.

It took 20 months for Singapore to up three-month bunker sales from 12m to 13m tonnes
16 Oct 2017 10:43 GMT
In contrast, it took four-and-a-half years for the port to see volumes rise from 11m to 12m tonnes.

A row of bullish news and data keeps oil prices in an uptrend
16 Oct 2017 08:41 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
16 Oct 2017 08:11 GMT
By the Oil Desk at Freight Investor Services.

Singapore 12-month bunker sales jumped from 45 to 50m tonnes in just 21 months
16 Oct 2017 06:47 GMT
Sales at Asian port rose by 5m tonnes in almost a third of the time it took them to increase from 40m to 45m tonnes.

Singapore makes history with bunker sales of 50m tonnes over 12 months
13 Oct 2017 14:51 GMT
Asian port also sells more than 13m tonnes in three months for the first time.

Sing Fuels director: India's 5% GST on bunker fuel 'may still be too high'
13 Oct 2017 13:55 GMT
Satnam Singh points out that zero percent was requested in presentations to the GST Council.

Gazprom Neft refinery produces first batch of 0.1% RMG 80
13 Oct 2017 10:55 GMT
Product to be sold by subsidiary Gazpromneft Marine Bunker.

Oil stock data, Iran nuclear deal, oil rigs and Chinese data
13 Oct 2017 09:57 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
13 Oct 2017 08:49 GMT
By the Oil Desk at Freight Investor Services.

UK researchers claim breakthrough converting CO2 and methane into liquid fuels
12 Oct 2017 15:20 GMT
Non-thermal plasma process said to offer 'promising and attractive' alternative for the synthesis of fuels.

Suppliers work through backlog in Durban, Richards Bay as bunkering restarts
12 Oct 2017 12:22 GMT
More than 30 ships in each port caught up in congestion and delays.

The news has not changed much since the start of this week
12 Oct 2017 09:16 GMT
By A/S Global Risk Management.

Boost for Indian bunker sellers as GST rate is slashed to 5%
12 Oct 2017 09:02 GMT
The Goods and Services Tax (GST) on bunker fuel is lowered for both foreign-going and coastal vessels.

Oil and fuel oil hedging market update
12 Oct 2017 08:32 GMT
By the Oil Desk at Freight Investor Services.

ExxonMobil warns of rise in compatibility and stability issues as new 0.5% fuels emerge
11 Oct 2017 14:45 GMT
Supplier urges operators to 'avoid the pitfalls' as the market heads towards a 'multi-fuel future'.

Task force launched to decarbonize shipping with 'urgency'
11 Oct 2017 12:21 GMT
Initiative to focus on five key areas to address the maritime industry's climate challenge.

OPEC, U.S. shale oil and oil stocks ahead
11 Oct 2017 11:04 GMT
By A/S Global Risk Management.

Skangas delivers first fuel switch to LNG in open sea
11 Oct 2017 11:01 GMT
Bunker firm hails benefits of supplying LNG to ships while transiting between ports.

Oil and fuel oil hedging market update
11 Oct 2017 07:02 GMT
By the Oil Desk at Freight Investor Services.

A bright future for low-flashpoint fuels?
11 Oct 2017 08:48 GMT
Larry Rumbol, Marine Condition Monitoring Manager at Parker Kittiwake, writes for Bunker Index.

Statoil selects Gas4Sea to supply LNG bunkers in Rotterdam
10 Oct 2017 14:05 GMT
The Engie Zeebrugge will be used to supply LNG to four crude shuttle tankers when they enter into service in 2020.

Ports of Durban, Richards Bay closed as Severe Weather Warning is issued
10 Oct 2017 12:17 GMT
South Africa's east coast suffers strong winds, heavy rain and localised floods.

Singapore drops 50% concession for Marpol-compliant double-hulled tankers
10 Oct 2016 10:05 GMT
New rates due to be effective from January 1, 2018.

Saudi Arabia will cut exports - not production and Nate aftermath remains
10 Oct 2017 09:00 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
10 Oct 2017 07:48 GMT
By the Oil Desk at Freight Investor Services.

MAN pledges EUR 2m discount on HFO-to-gas retrofits
09 Oct 2017 12:53 GMT
Engine specialist says offer is available for 10 retrofits from conventional fuel to gas operation.

Bunker-saving Azipod propulsion ordered for LNG-powered Viking Line ferry
09 Oct 2017 12:14 GMT
Ship expected to be 'the most efficient cruise ferry operating in the Baltic, if not the world'.

Verifavia certifies IVY system against EU MRV requirements
09 Oct 2017 11:08 GMT
System features inbuilt sensors and fuel oil flowmeters to automatically monitor and report voyages.

Oil and fuel oil hedging market update
09 Oct 2017 07:57 GMT
By the Oil Desk at Freight Investor Services.

Drop in active U.S. oil rigs, OPEC comments and hurricane Nate effects
09 Oct 2017 07:21 GMT
By A/S Global Risk Management.

Gas Natural Fenosa greenlights 'temporary' HQ transfer to Madrid
07 Oct 2017 09:28 GMT
LNG bunker supplier says move is due to the 'legal uncertainty' created by recent events in Catalonia.

SGMF chief advises industry to address carbon pollution or face 'severe regulation'
06 Oct 2017 17:03 GMT
Mark Bell says shipping 'needs to act quicker than it ever has before'.

Shell inks LNG bunker supply deal with Siem Car Carriers
06 Oct 2017 11:01 GMT
Long-term agreement to supply LNG fuel to two new car carriers in northwest Europe and United States.

LNG bunker supplier Gas Natural Fenosa calls board meeting over relocating Barcelona HQ
06 Oct 2017 10:48 GMT
Natural gas firm joins list of Catalonia-based institutions deliberating over their future.

Tropical storm Nate, new ties between Saudi and Russia, Iran nuclear deal in spotlight
06 Oct 2017 09:03 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
06 Oct 2017 08:58 GMT
By the Oil Desk at Freight Investor Services.

Copec kicks off cruise season with bunker tanker Tamina
06 Oct 2017 07:07 GMT
Bunker vessel will mainly operate at the southern ports of Puerto Williams, Puerto Montt and Punta Arenas.

Chevron's Taro cylinder lubricant gains WinGD approval
05 Oct 2017 10:15 GMT
Supplier says lubricant removes the need to change cylinder lubricants when operating in and out of ECAs.

Draws in U.S. crude inventories and Russia open to production cut extension
05 Oct 2017 08:58 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
05 Oct 2017 08:55 GMT
By the Oil Desk at Freight Investor Services.

Coralius performs its first Gothenburg LNG bunker delivery
05 Oct 2017 08:44 GMT
First Europe-built LNG bunker vessel supplies Ternsund tanker at Swedish port.

World Fuel Services declares quarterly cash dividend
05 Oct 2017 06:52 GMT
Dividend payout is in line with the amount paid over the last two-and-a-half years.

World Fuel Services announces renewal of share repurchase program
05 Oct 2017 06:25 GMT
Share repurchase program authorizes the purchase of up to $100 million in common stock.

IT specialist Stephen Gold joins World Fuel Services' board of directors
05 Oct 2017 06:09 GMT
CEO says move will help the firm grow its technology offerings and digitize its business.

Oil report predicts bullish fourth quarter
04 Oct 2017 14:35 GMT
Report takes a look at the key factors set to affect oil prices over the next three months.

Court strikes out three writs against PDZ for alleged non-payment of bunkers
04 Oct 2017 13:58 GMT
Court also decides that MYR 5,000 should be awarded to the Malaysian firm.

Dan-Bunkering interns set to relocate to other group offices in 2018
04 Oct 2017 09:28 GMT
Six-month internship programme is due to be completed in Q1.

Mixed oil stocks data keep oil prices in tight trading range just above $55
04 Oct 2017 08:04 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
04 Oct 2017 07:58 GMT
By the Oil Desk at Freight Investor Services.

Orca Energy ESS gets DNV GL type approval
04 Oct 2017 07:20 GMT
Energy storage system approved for installation on all vessels classed by DNV GL.

ECSA appoints Martin Dorsman as Secretary General
03 Oct 2017 15:25 GMT
Dorsman to start his new role on November 1.

OTC Europe acquires Oil Brokerage Ltd
03 Oct 2017 12:22 GMT
'Deal is a sound strategic move', says Oil Brokerage managing director.

A review of VPS bunker alerts
03 Oct 2017 09:33 GMT
By Steve Bee, Group Commercial & Business Development Director.

Trading in Brightoil shares suspended as market awaits release of results
03 Oct 2017 08:24 GMT
Share price has tumbled 12% since the delay in the release of the firm's annual results was announced.

Oil and fuel oil hedging market update
03 Oct 2017 08:20 GMT
By the Oil Desk at Freight Investor Services.

Brent crude oil price heading back into $56 territory
03 Oct 2017 08:04 GMT
By A/S Global Risk Management.

Aegean hires Justin Yagerman as Senior VP Investor Relations and Business Strategy
02 Oct 2017 14:38 GMT
Yagerman's experience in the investment sector 'will be greatly beneficial', says Aegean president.

Naming ceremony held for DEME's second LNG-fuelled dredger
02 Oct 2017 11:03 GMT
DEME vessel named in official ceremony held in Belgium.

Corvus to supply bunker-saving battery system to two Statoil-chartered PSVs
02 Oct 2017 09:11 GMT
Installation to be performed to meet Statoil's condition that vessels are converted to hybrid power using batteries.

Oil slightly lower as markets digest rig data and alleged OPEC output rise
02 Oct 2017 08:04 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
02 Oct 2017 07:58 GMT
By the Oil Desk at Freight Investor Services.

Norden's new knowledge centre hailed for driving fuel efficiency
02 Oct 2017 07:49 GMT
Dry Cargo division says it has benefited from the advice provided by the firm's fuel efficiency specialists.



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