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Home » News » News Archive - April 2018


News Archive - April 2018

Bunker suppliers given 14 months to fit MPA-approved MFMs for distillate deliveries
27 Apr 2018 19:45 GMT
Firms can apply for co-funding of up to S$60k ($45k) for each tanker delivering distillates.

World Fuel Services: Florida marine business helped improve profitability
27 Apr 2018 16:13 GMT
Management discusses seasonal sales, cost reduction, margins, niche penetration and LNG.

Oil and fuel oil hedging market update
27 Apr 2018 08:11 GMT
By the Oil Desk at Freight Investor Services.

World Fuel Services posts net income - and marine gross profit - of $31.2m
27 Apr 2018 00:13 GMT
Overall net earnings virtually level with last year; marine division's profit dips 7 percent.

Kirby posts $5m rise in net profit as revenue jumps 50.8%
26 Apr 2018 18:12 GMT
Bunker barge operator achieves $32.5m net earnings.

AIDA seals Kiel partnership for LNG, shore power and scrubbers
26 Apr 2018 16:41 GMT
Tie-up includes the construction of a shoreside power plant and the use of LNG and scrubbers.

ICS backs zero-carbon propulsion, voices scepticism over MBMs
26 Apr 2018 13:07 GMT
Association prefers bunker levy payable to an IMO climate fund if MBM were to be developed.

Oil and fuel oil hedging market update
26 Apr 2018 08:19 GMT
By the Oil Desk at Freight Investor Services.

New managing director for Glander International Bunkering in Geneva
26 Apr 2018 08:14 GMT
Former Oslo MD, Andreas Maierhofer, is tasked with 'spearheading growth' in his new role.

Geopolitics trumps bearish EIA stats
26 Apr 2018 05:10 GMT
By A/S Global Risk Management.

Bureau Veritas launches 'My Fuel Consumption' compliance tool
25 Apr 2018 16:52 GMT
Enables owners to submit their SEEMPs as required by IMO-DCS.

BIMCO set to adopt new Bunker Terms in bid to boost harmonisation
25 Apr 2018 15:26 GMT
Key changes include liability cap, default 30-day credit period, and delivery and claims management provisions.

Strong demand, geopolitical risk and declining stock markets
25 Apr 2018 09:11 GMT
By A/S Global Risk Management.

South East Asia's first LNG-powered tug launched in Singapore
25 Apr 2018 09:07 GMT
KST Liberty unveiled at the world's biggest bunker port.

Oil and fuel oil hedging market update
25 Apr 2018 09:03 GMT
By the Oil Desk at Freight Investor Services.

New project aims to build industrial-scale power-to-gas installation
24 Apr 2018 17:24 GMT
Initiative could lead to the production of large volumes of renewable gas, such as LNG.

Denmark-based Dan-Bunkering traders earn promotion
24 Apr 2018 16:21 GMT
Patrick Bogedal Hoe and Kasper Baekkegaard Christiansen are promoted to the role of Senior Bunker Trader.

GAC to offer bunkering services at new Port Elizabeth office
24 Apr 2018 15:44 GMT
MD says local presence will enable GAC to offer a package of integrated services at the South African port.

Emission test results prompt NGOs to call for Med ECA
24 Apr 2018 14:33 GMT
Sea traffic measurements said to show that pollution in Gibraltar and Barcelona is up to 70 times higher than most urban areas.

Potential new sanctions on Iran push oil prices higher
24 Apr 2018 09:08 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
24 Apr 2018 09:05 GMT
By the Oil Desk at Freight Investor Services.

Hurtigruten to upgrade up to nine ships to gas-electric power
20 Apr 2018 17:32 GMT
Vessels to switch from diesel to gas and be fitted with battery power.

All-electric vessel launched for Norwegian fjord route
20 Apr 2018 12:58 GMT
Catamaran said to be first of its kind to offer emission-free transport through the Western Norwegian landscape.

Wartsila CEO talks up 'critical role' of LNG, calls for 'clear' GHG roadmap
20 Apr 2018 11:51 GMT
There is 'no single solution' for decarbonising shipping, says Jaakko Eskola.

Industry coalition makes case for LNG in wake of MEPC 72
20 Apr 2018 08:58 GMT
Argues that LNG is a 'bridging solution' where ships and infrastructure could 'easily' switch to renewable, or zero-emissions.

Oil and fuel oil hedging market update
20 Apr 2018 08:56 GMT
By the Oil Desk at Freight Investor Services.

Brent closed at $75 but quickly fell to current levels of $73-74
20 Apr 2018 08:37 GMT
By A/S Global Risk Management.

Itsas Gas secures Cepsa supply contract; Oizmendi starts bunkering in Huelva
19 Apr 2018 12:57 GMT
Multipurpose barge Oizmendi will be performing deliveries of LNG, fuel oil and distillates.

Eco Marine Power to expand Aquarius Eco Ship Project
19 Apr 2018 11:22 GMT
Wider range of technologies to be studied, including fuel cells, air lubrication systems and electrical propulsion.

Wartsila in first optimised maintenance tie-up for LNGPac system
19 Apr 2018 10:14 GMT
Agreement with Viking Line is first for Wartsila's complete gas handling system for LNG-fuelled ships.

Bullish momentum sends oil prices above three-year high
19 Apr 2018 09:13 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
19 Apr 2018 09:05 GMT
By the Oil Desk at Freight Investor Services.

Nor Lines LNG-fuelled ships to include Rotterdam in weekly service
19 Apr 2018 08:55 GMT
Kvitnos and Kvitbjorn to call at leading Dutch port as part of regular liner service from June 1.

Maersk targets 60% CO2 emissions reduction by 2020
18 Apr 2018 14:08 GMT
Boxship giant has already surpassed IMO's 2030 carbon intensity target after last year achieving a 43% reduction (since 2007).

Vopak posts decline in Q1 profit
18 Mar 2018 11:41 GMT
Key net profit, EBIT and EBITDA indicators show YoY drop as revenue falls 7 percent.

Brent holds steady above $71
18 Apr 2018 09:10 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
18 Apr 2018 09:04 GMT
By the Oil Desk at Freight Investor Services.

Aegean Marine Petroleum appoints new CFO
18 Mar 2018 09:02 GMT
Pavlos Papageorgiou has more than 20 years' experience in the financial services sector.

World Fuel Services shareholders to vote in May annual meeting
17 Apr 2018 13:34 GMT
Election of nine directors will be one of the key issues to be brought to a vote.

Rivertrace launches wash water monitor for scrubbers
17 Apr 2018 12:48 GMT
Smart ESM monitor measures PAH, turbidity, temperature and pH on open-loop, closed-loop and hybrid scrubber systems.

DNV GL examines alternative fuels in new white paper
17 Apr 2018 11:42 GMT
Comparison made with conventional and low-sulphur fuels.

Oil price increase eases, but uncertainty looms
17 Apr 2018 08:54 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
17 Apr 2018 08:47 GMT
By the Oil Desk at Freight Investor Services.

ExxonMobil to supply 0.5% sulphur fuels in Northwest Europe, Med and Singapore
17 Apr 2018 08:12 GMT
New suite of fuels to include residual and distillate grades, with lubricants range for 0.5% sulphur fuels also being developed.

New bunker testing device indicates sulphur content 'in less than three minutes'
16 Apr 2018 13:42 GMT
Makes it possible to avoid compliance issues by performing test before bunkering and prior to ship leaving port.

MEPC adops best practice guidance for bunker buyers
16 Apr 2018 12:33 GMT
Move is designed to help assure the quality of fuel oil delivered to, and used aboard ships.

Global sulphur levels for residual fuels rose to six-year high in 2017: MEPC
16 Apr 2018 10:28 GMT
Average annual sulphur content increased to its highest level since 2011, according to data.

Brent oil price remains around $71-72 on mixed news
16 Apr 2018 09:22 GMT
By A/S Global Risk Management.

PPR6 to develop Arctic HFO ban as nations urge 2021 implementation
16 Apr 2018 09:18 GMT
MEPC directs 2019 sub-committee to draw up plan following strongly worded proposal to apply ban 'no later than the end of 2021'.

Oil and fuel oil hedging market update
16 Apr 2018 09:13 GMT
By the Oil Desk at Freight Investor Services.

'IMO has done something no one has done before': BIMCO's Lars Pedersen
13 Apr 2018 16:56 GMT
BIMCO official applauds IMO for setting an absolute emission reduction target for the entire industry.

IMO agrees historic deal to cut carbon in shipping sector
13 Apr 2018 15:21 GMT
GHG emissions to be slashed by 'at least' 50% on 2008 levels by 2050 with emphasis on scaling up action to 100%.

Rotterdam to usher in EUR5m incentive for ships using low- and zero-carbon fuels
13 Apr 2018 14:41 GMT
Port explains that in order to slash emissions by more than 50%, it will require the use of alternative fuels.

Singapore records best Q1 bunker sales in its history
13 Apr 2018 11:06 GMT
Asian port sold 12.91m tonnes between January and March, which was a YoY improvement of 2.0%.

Red and White Fleet switches to Neste MY Renewable Diesel
13 Apr 2018 09:18 GMT
Sightseeing cruise operator switches its entire fleet to drop-in alternative to conventional diesel.

Oil remains above $70 with geopolitical tensions and tighter supply forecast
13 Apr 2018 09:12 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
13 Apr 2018 09:03 GMT
By the Oil Desk at Freight Investor Services.

MEPC on verge of agreeing to slash GHG emissions by at least 50%
13 Apr 2018 00:21 GMT
Draft text would see total shipping sector GHG emissions cut by a minimum of 50% by 2050, from 2008 levels.

Shell agrees to charter another two LNG-fuelled Aframax tankers
13 Apr 2018 00:02 GMT
Agreement follows February's deal with Sovcomflot to also charter two dual-fuel Aframax vessels.

Monjasa swings back into profit in 2017
12 Apr 2018 13:32 GMT
Revenue jumped 16.7% despite 300k-tonne dip in bunker sales volume.

Crowley's first ConRo newbuild bunkered with LNG
12 Apr 2018 11:42 GMT
Boxship El Coqui is supplied with LNG for the first time in milestone operation for the US firm.

Oil prices continue the uptrend as geopolitics continues to take centre stage
12 Apr 2018 09:35 GMT
By A/S Global Risk Management.

Malik strengthens team with bunker trader appointment
12 Apr 2018 09:31 GMT
Danish firm says latest hire is a 'natural consequence of the group's growth'.

Oil and fuel oil hedging market update
12 Apr 2018 09:24 GMT
By the Oil Desk at Freight Investor Services.

UK government teams up with Marshall Islands to heap pressure on IMO states over GHGs
12 Apr 2018 00:03 GMT
Two nations call on IMO members to reduce GHGs in the spirit of the Paris Agreement.

ExxonMobil to launch monitoring service that measures fuel sulphur content
11 Apr 2018 12:55 GMT
Service is said to also identify issues such as over- or under-lubrication, cold corrosion and the presence of cat fines.

Geopolitical tensions, easing trade war fears send Brent to highest level since late 2014
11 Apr 2018 09:09 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
11 Apr 2018 09:02 GMT
By the Oil Desk at Freight Investor Services.

Secretary-General's speech at MEPC 72
11 Apr 2018 01:17 GMT
Kitack Lim covered bunker-related issues in his opening address at the MEPC's 72nd session.

MEPs issue unilateral warning as IMO climate goals are deemed 'not good enough'
11 Apr 2018 00:47 GMT
EU politicians draw line in sand with Paris Agreement as one MEP warns: 'the powers that want to water down the proposal are gaining ground'.

Fluxys to build permanent LNG bunkering facility in Antwerp
11 Apr 2018 00:02 GMT
LNG storage also planned as firm takes over the concession at quays 526-528.

Geopolitics and easing trade war fears support prices
10 Apr 2018 09:02 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
10 Apr 2018 08:48 GMT
By the Oil Desk at Freight Investor Services.

HFO ban: Arctic awareness event at MEPC 72
10 Apr 2018 01:19 GMT
Short presentations to be delivered by shipping, science, indigenous and non-governmental representatives.

Refinery pulls out of Quadrise MSAR trial
10 Apr 2018 00:18 GMT
Firm withdrew after delays prevented the signature of a fuel supply agreement, Quadrise explains.

ECSA backs MEPC to deliver 'ambitious' CO2 reduction strategy
10 Apr 2018 00:13 GMT
European governments could be driving force to help push through agreement, ECSA says.

IMO nations must back Arctic HFO ban: NGO
10 Apr 2018 00:11 GMT
Clean Arctic Alliance calls on MEPC 72 to support ban on heavy fuel oil from Arctic shipping.

'Moment of truth has come for IMO': Marshall Islands environment minister
09 Apr 2018 14:42 GMT
Says island nation has made 'significant compromises' in the draft initial strategy text.

Shipping 'must play its part' in controlling emissions: New Zealand
09 Apr 2018 11:27 GMT
IMO strategy should be 'ambitious', with measures put in place 'as soon as possible', says Associate Minister of Transport.

Potential trade war still looming; huge jump in active US oil rigs
09 Apr 2018 09:58 GMT
By A/S Global Risk Management.

Tokyo event to showcase bunker-saving rigid sail prototype
09 Apr 2018 09:45 GMT
Lab prototype of EnergySail technology is due to be exhibited for the first time this week.

ICS urges nations - such as US - not to 'derail' GHG reduction agreement
09 Apr 2018 09:07 GMT
Says 'Paris Agreement for the shipping industry' should be ambitious enough to stimulate the development of zero CO2 fuels.

Oil and fuel oil hedging market update
09 Apr 2018 09:46 GMT
By the Oil Desk at Freight Investor Services.

How the RenovaBio Law could affect Brazil's marine fuel industry
06 Apr 2018 14:41 GMT
Market analyst Jordan Lewis tells Bunker Index about Brazil's new policy, which aims to increase the production and use of biofuels.

Bunker issues pack MEPC 72 agenda
06 Apr 2018 13:42 GMT
Various marine fuel-related issues to be covered at next week's MEPC meeting in London.

IMO recaps fuel consumption data reporting requirements
06 Apr 2018 10:44 GMT
Requirement for ships to collect data on their fuel oil consumption entered into force on March 1.

Wait-and-see mode ahead of US jobs reports and oil rig count
06 Apr 2018 09:54 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
06 Apr 2018 09:48 GMT
By the Oil Desk at Freight Investor Services.

Quadrise share price plummets more than 27% in morning trading
06 Apr 2018 09:45 GMT
Company's share value has fallen 70% in just over six trading days.

LNG-fuelled Furetank newbuild sets sail for Singapore
05 Apr 2018 15:33 GMT
Fure Vinga joins Gothia Tanker Alliance fleet of vessels.

LeanShips project tests methanol on Volvo Penta D7 engine
05 Apr 2018 13:10 GMT
Project aims to demonstrate the potential of methanol as an alternative marine fuel.

IBIA presents best practice guidance for suppliers
05 Apr 2018 10:07 GMT
New guidance is designed to help assure the quality of bunkers delivered to ships.

Oil prices inch higher on bullish oil inventory report
05 Apr 2018 08:40 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
05 Apr 2018 08:33 GMT
By the Oil Desk at Freight Investor Services.

Prevention at Sea's oil record book software gains another flag recognition
04 Apr 2018 14:50 GMT
Bahamas Maritime Authority set to approve the use of e-ORB software.

Rotor sail firm Norsepower ready to back Paris GHG reduction targets
04 Apr 2018 13:45 GMT
CEO Tuomas Riski supports 70-100% decarbonisation by 2050.

PMG Holding expands Black Sea OPL operation with MGO barge
04 Apr 2018 10:07 GMT
Newly added delivery vessel performed its first delivery on March 28.

OPEC oil production decline, oil stocks data ahead
04 Apr 2018 08:37 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
04 Apr 2018 08:13 GMT
By the Oil Desk at Freight Investor Services.

Shipping firms could have undue influence over IMO policymaking: Anti-corruption report
03 Apr 2018 16:29 GMT
NGO urges IMO to reform its governance structure to promote transparency.

Brightoil still unable to provide results release date
03 Apr 2018 14:22 GMT
'The Audit Committee may require further time to consider the further steps,' Brightoil says.

GP Global hires five traders, opens office in Hull and Seoul
03 Apr 2018 11:10 GMT
Expands team with the addition of seasoned traders in three offices.

Financial markets affect oil prices; awaiting US oil production data
03 Apr 2018 09:23 GMT
By A/S Global Risk Management.

Oil and fuel oil hedging market update
03 Apr 2018 08:53 GMT
By the Oil Desk at Freight Investor Services.

Corvus to supply energy storage system for Stena Line's first zero emissions ferry
03 Apr 2018 08:17 GMT
Stena Line set to be first in Sweden to operate a ferry with zero emissions while berthing and in port.



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