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'.
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 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
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.
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
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".
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 Maritime and Port Authority of Singapore (MPA) cancelled the bunker supplier licenses of Excel Petroleum Enterprise Pte. Ltd. and Lian Hoe Leong & Brothers Pte. Ltd. with effect from January 15, 2014 for contravening the terms and conditions of the bunkering licenses. Both companies were found to have breached Clause 3 of the terms and conditions of the Bunkering Licence (Bunker Supplier) by allowing other companies to use their Bunker Delivery Notes to supply bunkers.
Fairmount Marine said it has safely delivered rig ENSCO 5002 in Singapore. The rig was towed from Rio de Janeiro, Brazil, via Cape Good Hope, by tug Fairmount Expedition. ENSCO 5002 is a 1975 built 70 meters long and 61 meters wide semisubmersible drilling rig
Danish ship fuel supplier OW Bunker aims to publish plans for a stock market listing this week, three sources familiar with the matter told Reuters on Monday. "The plan is to be listed before Easter," one source said, adding that Morgan Stanley, Carnegie
Private equity co Altor plans to partly sell holding; OW Bunker FY net up almost 50 pct at $63.4 mln. Revenue up more than 20 pct at $16.99 billion. Danish ship fuel supplier OW Bunker plans an initial public offering (IPO) of shares in Copenhagen, it said on Wednesday
Endofa, an independent physical marine fuel supplier and bunker trader with offices in Houston and Dubai, informs it has partnered with another emerging bunker broker, VP Bunkers, to form Endofa-VP with offices in Nice, France. According to Endofa's Kenn Soendergaard
You say you don’t work on an LNG ship? You should care nevertheless. Just ten years ago, LNG Import terminals were being built and/or contemplated throughout the United States. Then, it was widely expected that Liquefied Natural Gas (LNG) imports would account for a large percent of the
The Maritime and Port Authority of Singapore (MPA) reported two separate vessel collision incidents, both resulting in spills. Collision between Lime Galaxy and Feihe The MPA said it received a report on January 29, at about 6:30 p.m. (Singapore Time) that the departing Hong Kong-flagged
Three new appointments announced as recruitment drive to support expanding customer base continues. Dynamic Oil Trading has announced a series of appointments at the company’s recently launched Dubai office, amid continued expansion of the firm’s Middle East operation.
Company continues roll-out of measurement technology across global fleet to provide customers with accuracy in supply. OW Bunker hasannounced that it has installed a Coriolis Flow Meter on one of its refueling barges in Rotterdam. OW Bunker is the first independent physical fuel
Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Kakoki Kaisha, Ltd. (MKK) have jointly developed a Hybrid SOx Scrubber System that efficiently removes sulfur oxides (SOx) from exhaust gas emitted by marine diesel engines. The Hybrid SOx Scrubber System is the first in Japan to comply with
Claimed by the Port of Zeebrugge to be the world's first LNG fuelled tugboat, the M/T Borgoy was refuelled recently in the Belgian coastal port in a tanker truck to ship (TTS) operation. The Port informs that this tugboat emits nearly 30 percent less CO2 and up to 90 percent less NOx and
In a bid to improve bunker quality across the marine fuel supply chain, the International Bunker Industry Association (IBIA) has called on marine fuel suppliers to adopt the ISO 2010 specifications for bunkers. Despite having been introduced four years ago to improve bunker standards
Since January 2014, the marine lubricant specialist LUKOIL Marine Lubricants Ltd. offers bulk supply of lubricant main grades in Novorossiysk, Russia’s main port on the Black Sea. On January 15, 2014 the first large order of Navigo 70 MCL was successfully delivered by barge.
In a bid to improve bunker quality across the marine fuel supply chain, the International Bunker Industry Association (IBIA) informs that it has called on marine fuel suppliers to adopt the ISO 2010 specifications for bunkers. Despite having been introduced four years ago to improve bunker
Houston-based LNG fuel supply and distribution company LNG America LLC announced today that it has contracted Jensen Maritime, Crowley Maritime Corp.'s Seattle-based naval architecture and marine engineering company, to design the initial bunker/shuttle barge for its U.S. Gulf Coast operations.
Ship bunker suppliers Aegean Marine Petroleum Network release financial and operating results for the fourth quarter ended December 31st, 2013, registering a third consecutive profitable year. Quarterly & full year highlights Recorded sales volumes of 2,384