Last week (ending 22, June 2012) oil bunker prices dropped in key ports across the world IFO380 has made double-digit drops in Singapore, Rotterdam, Fujairah, and Houston, and all four ports once again reached new lows for the month reports 'Ship & Bunker'. (IFO 380 is Intermediate fuel oil with a maximum viscosity of 380 Centistokes (<3.5% sulphur). In Asia, Singapore IF380 prices dropped by $11.00 bringing the price to $563.50, while Hong Kong IFO380 fell for the fourth day this week dropping $10.00 to $585.00 per metric tonne (pmt). LA / Long Beach continued on a downward trend, IFO380 chalking up an 11th consecutive day of losses by dropping $7.50 to $562.50 pmt.
Italian dry freight group Deiulemar Shipping is trying to avoid formal bankruptcy proceedings. Italian dry freight group Deiulemar Shipping Company SpA (Deiulemar Shipping) is seeking liquidation to avoid formal bankruptcy proceedings after Italian prosecutors seized assets totaling 323 million Euros ($399.5 million) which included 10 of its vessels, according to a Reuters report accessed by 'Ship & Bunker'.
Maritime & Port Authority of Singapore (MPA) considers operational feasibility of LNG bunkering A Joint Industry Project (JIP), co-funded through MPA’s MINT fund, is aimed to provide recommendations to the Singapore government authorities on enabling LNG bunkering in Singapore, ensuring operational safety, alignment with industry expectations and best practice, and compliance with relevant international rules, regulations and standards.
The ports of and was honored Foss Maritime Company, calling its innovative approach to reducing air pollution in southern an outstanding example of corporate leadership. Among Foss’ initiatives: Developing the world’s first hybrid tug, the Green Dolphin, a low-emission vessel that company officials expect to deploy in San Pedro Bay by the fall of 2008. Earlier this year, the federal Environmental Protection Agency gave Foss and the Green Dolphin its Clean Air
ABS signed Memoranda of Understanding (MOUs) with several Korean entities to advance local research and development (R&D) efforts. On October 219, 012, ABS President and CEO Christopher J. Wiernicki signed an MOU with the Korea Gas Corporation (KOGAS) to join in international projects through equity participation in overseas LNG projects. The scope of the agreement includes technological cooperation, training
Internet ship-brokerage Levelseas said that seven of the world's biggest commodity traders and three key shipping players had signed up to its system, LSX, allowing them to fix transport deals directly from mid-September. At the click of a button, traders like BP, Cargill or BHP Billiton will for the first time be able to book their cargoes of oil or grain directly onto a ship, a process that was once the almost-exclusive domain of shipbrokers.
The Maritime and Port Authority of Singapore (MPA) has suspended the bunkering licenses of Coastal Bunkering Services Pte Ltd to operate as a bunker supplier and a bunker craft operator with immediate effective today. This follows the conviction of five bunker surveyors on May 24 for accepting bribes from Coastal Bunkering Services. With the suspension, Coastal Bunkering Services is disallowed from operating as a bunker supplier and/or bunker craft operator in the Port of Singapore.
11.4 million tons was bunkered in Rotterdam in 2003, as compared to 10.6 million tons in the previous year. The 7.4 percent increase meant a record for the port in terms of the amount of ship's fuels and lubricants supplied to the seagoing shipping sector. With a turnover of roughly $2 billion and direct employment for well in advance of 1400 people, it was a particularly good year for the bunker sector. Following Singapore, Rotterdam is the largest bunker port in the world.
The International Bunker Industry Association (IBIA) has called on the bunker industry to comply with the spirit of Marpol Annex VI in addition to meeting the specific technical requirements laid out in the legislation. Don Gregory, chairman of IBIA, says, "A global cap of 4.5 per cent sets down the maximum sulphur content in bunker fuel. It will be very disappointing indeed if we hear reports of fuel exceeding that very conservative limit".
What happens when a bunker deal set up over the Internet goes wrong? One hasn't yet, but if bunkering in cyberspace mirrors bunkering in the real world, it is only a matter of time before one does. The International Bunker Industry Association (IBIA) and Oxford-based marine, energy and commodity credit information provider Infospectrum will be presenting and discussing each step of an e-commerce deal that has come off the rails at a joint bunker conference to be held in Athens, Greece
Wärtsilä's new 2-stroke, low pressure, dual-fuel engine has been selected by Terntank Rederi A/S, the Denmark based tanker operator, to power two new environmentally advanced, 15,000 DWT tankers. These will be the first installations of this engine.
The November 2013 edition of Lloyd’s Register’s Gas Technology Report is dedicated to LNG as a marine fuel. Highlights include a look at developments in Canada – a shipowner, the regulator and a shipbuilder talk about gas fuelled shipping
In 2011, Bourbon entered a five-year charter agreement with CGG for a series of six new seismic support vessels, an industry first. Two years later, the Bourbon Petrel and the Bourbon Fulmar are already in service in the Black Sea and Northern Europe, and a third vessel, the Bourbon Gannet
Increased emission legislation is impacting on the maritime industry and the development of LNG as a fuel is growing at a pace. The marine engineers and designers at Houlder have recognized this and are developing specialist equipment as a result.
The European Union will support with €11.2 million from the TEN-T Program a study followed by real life trials to look at the use of methanol as a possible maritime fuel of the future. The initiative also contributes to the realization of the “Motorways of the Sea” (TEN-T Priority
The Maritime and Port Authority of Singapore (MPA), & Belgium's Antwerp Port Authority and Port of Zeebrugge have signed a Memorandum of Understanding (MOU) on co-operation in the following areas: To harmonise the procedures related to liquefied natural gas (LNG) bunkering in order to
Greek-based Aegean Marine Petroleum Network Inc. has entered into an agreement to acquire the U.S. East Coast bunkering business of Hess Corporation. Hess Corporation is currently the leading marketer of marine fuels along the U.S. East Coast
The importance of balancing the numbers for a successful bunker fuel trading operation will be stressed by GAC's Nicholas Browne when he shares his experience at the Lloyds Maritime Academy Bunker Management School this week. In his speech
The Singapore Maritime and Port Authority (MPA) issued a news release stating that, working with Lloyd’s Register, it is completing a study on the Technical Standards and Procedures for LNG Bunkering in the Port of Singapore. The study addresses five key areas:
The International Bunker Industry Association (IBIA) has announced that it will be working with the South African Maritime Safety Authority (SAMSA) to develop a Bunkering code of practice for the supply of fuel from offshore barges. Offshore bunkering is currently banned in South Africa
A/S Dan-Bunkering Ltd. announced that as from September 23, 2013, Jesper Wendel Thomsen has been employed as Bunker Trader in Dan-Bunkering’s Copenhagen office. Jesper has spent 12 years working for a leading Danish shipping company; including postings in Tanzania and the
Asian growth and-global recovery are the topics for discussion at the International Bunker Industry Association (IBIA) gathering in Hong Kong next week (5-7 November 2013). But the underlying topic of debate at the conference will be “is the customer getting what he pays for”.
Dynamic Oil Trading, the global trading company for marine fuels and lubricants, reported a successful first year of operations since the launch of the company in October 2012. The company said it sales performance, supported by its significant financial backing
International Bunkering, a bunker and lubricant trading companies, is pleased to announce an expansion of its global coverage. International Bunkering has acquired U.S. bunker brokering firm Glander International. International Bunkering said this opportunity will be used to change the
Leading bunker and lubricant trading company, International Bunkering, has acquired Glander International, one of the oldest bunker brokering companies in the US. International say that this opportunity will be used to change the company’s name and to re-brand it in line with this expansion