Heating Oil News

01 Feb 2019

Product Tanker Market Looks Up

Image: Capital Product Partners L.P.

The product tanker market registered a robust recovery in the fourth quarter of 2018, partially reversing the downward trend observed in the first nine months of the year, said Capital Product Partners.The Marshall Islands' tanker company said in a stock exchange annoucement that the beginning of the quarter was weak in line with the previous quarters, as rates hovered close to historically low levels, but the market gained momentum from early November onwards.In the West, the…

10 Dec 2018

Rhine River Shipping Returns to Normal as Water Levels Rise

A typical tow arrangement on German inalnd waterways / CREDIT AdobeStock / © digitalstock

Freight shipping on the river Rhine in Germany has returned to normal after heavy rain in the past week raised water levels, traders said on Monday.Water levels on the Rhine had been low for around six months after a hot dry summer and a dry autumn, forcing vessels to sail only partly loaded and increasing the cost of commodity deliveries."The heavy, repeated rainfall in the past days was just what was required," one grains trader said.

09 Nov 2018

Low EU River Stir Fuel Markets in Singapore

File Image: An inland cargo movement on the Danube River. CREDIT: Adobestock / © digitalstock

Rhine water levels hit record lows in October; river is a key fuel transport hub for Europe.Low water levels on the Rhine river have caused a fuel supply deficit in parts of Europe's industrial heartlands that is sucking up cargoes from more than 10,000 km away in Singapore.Following a long, scorching summer, water levels on the Rhine - a key commodity shipping lane connecting industrial centres in Switzerland, Germany, France and the Netherlands to major seaports - fell to record lows…

25 Oct 2018

Maritime Rule Change Stirs Fears of Diesel Shortage: Kemp

© dbvirago / Adobe Stock

The International Maritime Organization (IMO) has so far resisted pressure to soften or postpone the implementation of new regulations requiring ships to use bunker fuels with a lower sulphur content from the start of 2020.That has prompted warnings from some analysts that the regulations will squeeze the availability of low-sulphur diesel and jet kerosene required by trucks, trains, aircraft, farmers and industry, resulting in big price increases.The regulations and any associated rise in fuel prices will occur in the run up to the next U.S.

18 Oct 2018

Record Low Rhine Levels Hampers Barge Trade

© Markus Mohr / Adobe Stock

Water levels on the Rhine River fell to a record low on Thursday and were forecast to fall even further, hampering oil product barge trading in northwest Europe.Water levels at the Kaub point of the river fell to 31 cm, according to Refinitiv Eikon data, the lowest level in data available since September 1995.Shallow water on the Rhine in Germany means freight vessels cannot sail fully loaded.The river is an important shipping route for commodities including grains, minerals, coal and oil products including heating oil.

23 Aug 2018

Freight Fuel Market Moves Back Towards Balance: Kemp

© TTstudio / Adobe Stock

The market for freight fuels is moving close to balance, after tightening significantly in 2017 and the first quarter of 2018, contributing to the recent stabilisation in crude oil prices.OECD stocks of middle distillate fuels, including road diesel, marine gasoil and jet fuel, totalled 513 million barrels at the end of June, according to the International Energy Agency (“Oil Market Report”, August 2018).Stocks have fallen compared with the slump years of 2015-2017 (when they…

22 Aug 2018

Record Low Danube Hinders Shipping in Hungary

© Gudellaphoto / Adobe Stock

Water levels on the Danube dropped to record lows on three sections of the river in Hungary on Wednesday due to a recent drought, hindering passenger cruise ships and causing losses to freight shipping companies.In Budapest the Danube receded to 0.61 metres, just above the record low of 0.51 meters recorded in 2003, the National Water Authority said in a statement.Tourists and locals flocked to the bottom of the pillars of the historic Margaret bridge to capture a unique view of the Hungarian capital city from the riverbed…

14 Aug 2018

Low Water Still Troubles River Shipping in Germany

© bilanol / Adobe Stock

Water levels on the Rhine and Danube in Germany remain low after a recent drought and freight vessels cannot sail fully loaded on the rivers, traders said on Tuesday.Rhine water levels have risen after rain in recent days but still remain well below levels that would allow normal sailings, they said.“Most vessels are only sailing about 30 percent full,” one trader said. “The situation is worst in southern sections of the river; a lot more rain is still needed.”The Rhine is an important shipping route for commodities including grains, minerals, coal and oil products including heating oil.

06 Aug 2018

Low Water Hinders River Shipping in Germany

© Bratislav Braca Stefanovic / Adobe Stock

Water levels on the Rhine and Danube in Germany remain low as a drought and heatwave continues and freight vessels cannot sail fully loaded on the rivers, traders said on Monday.The Rhine is too shallow for normal sailings from Duisburg to southern Germany, traders said. All of the German section of the Danube is too shallow for full loads, they said.“Vessels are still sailing but are sometimes operating less than half full,” one vessel broker said. “Water is so shallow in southern…

31 Jul 2018

Cargo Being Delivered Despite Low Water on Rhine

© ALEKSANDR PROSHKIN / Adobe Stock

Freight is being delivered despite shallow water on the Rhine and other rivers in Germany due to drought, a shipping industry group said on Tuesday, although many vessels are being forced to carry lighter loads."On the Rhine, by far Germany’s most important inland waterway, river vessels can, depending on area, often only transport half of their normal loads, sometimes even less," said the association of German inland waterways shipping companies BDB.The Rhine is too shallow for normal sailings from Duisburg to south Germany, traders said on Monday.

23 Jul 2018

Low Water Hinders Rhine, Danube River Shipping

© Jörg Hüttenhölscher / Adobe Stock

Water levels on the Rhine and Danube rivers in Germany are still low after dry weather and freight vessels cannot sail fully loaded, traders said on Monday.The Rhine is too shallow for normal sailings from Duisburg to south Germany, traders said. All of the German section of the Danube is too shallow for full loads, they said.Shallow water means vessel operators impose surcharges on freight rates, increasing costs for cargo owners.Several vessels are also needed to transport consignments usually transported by one craft…

16 Jul 2018

Low Water Levels Hinder River Shipping in Germany

© peteri / Adobe Stock

Water levels on the Rhine and Danube in Germany remain low after recent dry weather and cargo vessels cannot sail fully loaded on some sections of the rivers, traders said on Monday.The Rhine is too shallow for normal sailings from Cologne to south Germany, traders said. All of the German section of the Danube is too shallow for full loads, they said.Shallow water means vessel operators impose surcharges on freight rates, increasing costs for cargo owners.The Rhine is an important shipping route for commodities including grains, minerals, coal and oil products including heating oil.

27 Jun 2018

Low Water Hampers Germany's Rhine, Danube Shipping

File Image: An inland towboat and its barges transit the Danube River in Germany. (CREDIT: AdobeStock / © digitalstock)

Water levels on the Rhine and Danube in Germany have fallen after recent dry weather and freight vessels cannot sail fully loaded on some sections of the rivers, traders said on Wednesday. The Rhine is too shallow for normal sailings around Cologne, traders said. All of the German section of the Danube is too shallow for full loads, they said. Shallow water means vessel operators impose surcharges on freight rates, increasing costs for cargo owners. The Rhine is an important shipping route for commodities including grains, minerals, coal and oil products including heating oil.

29 Jan 2018

Rhine Reopened to Shipping as Water Level Falls

© william87 / Adobe Stock

Germany's Rhine river was reopened to shipping on Monday after waters fell, following its closure for the past week as rain and melting snow raised water levels, authorities said. High water mostly peaked in north Germany over the weekend, but levels have fallen substantially allowing vessel sailings on the entire stretch, the river flood monitoring agency said. Some vessel speed restrictions, however, remain in north Germany, it said. Rising water levels mean vessels do not have enough space to sail under bridges.

25 Jan 2018

River Rhine in South Germany Still Closed to Shipping

File Image (CREDIT: AdobeStock / (c) digitalstock)

The Rhine in southern Germany remained closed to shipping on Thursday after a sharp rise in water levels and the river is likely to stay closed into the weekend, German authorities said. High water means vessels to not have enough space to pass under bridges. The river is closed to shipping from around Maxau near Karlsruhe to a point near Koblenz, preventing trips to and from Switzerland, the river flood monitoring agency said. Vessels are still able to navigate northern and central sections of the river but have to reduce speed, it said. Water levels are falling again in the southern Rhine.

24 Jan 2018

South River Rhine in Germany Still Closed to Shipping

File Image: An inland cargo movement on Germany's vast inland waterways.  (CREDIT: AdobeStock / (c) digitalstock)

The river Rhine in south Germany remained closed to shipping on Wednesday after a sharp rise in water levels, a German inland navigation authority official said. About 80 km of the river is closed to shipping from around Maxau near Karlsruhe to a point south of Mannheim, preventing sailings to and from Switzerland, he said. Northern and central sections of the river are operating normally. Water levels are starting to fall again in some areas and a reopening to shipping later this week or at the weekend could be possible, he said.

10 Jan 2018

Rhine in Germany Reopens as Water Levels Recede

File Image: A cargo vessel underway on inland German waters. CREDIT: Adobestock / (c) digitalstock

The river Rhine in Germany was reopened to shipping on Wednesday after a fall in water levels, the German inland navigation authority said. The river was closed to inland shipping at the beginning of the week after rain and melting snow raised water levels. High water means vessels do not have enough space to sail under bridges, but drier weather means water levels have dropped enough to enable navigation to resume, an official said. The Rhine is an important shipping route for commodities including minerals, coal and oil products such as heating oil, grains and animal feed.

08 Jan 2018

Rhine Closed to Shipping in Germany as Water Rises

© Claudio Divizia / Adobe Stock

The Rhine river in Germany was closed to shipping on Monday after water levels rose following rain, the German inland navigation authority said on Monday. The river is closed between the German cities of Duisburg and Koblenz, the authority said, preventing sailings to and from Switzerland. The high water means vessels would not have enough space to sail under bridges that cross the waterway. The river is expected to crest to its highest point on Monday or Tuesday after which drier weather is expected to cause water levels to fall, the authority said.

04 Jan 2018

Winter Storm Threatens U.S. East Coast Energy Industry

File Image (CREDIT: AdobeStock / (c) mode_list)

The U.S. energy industry braced for a major test to refineries and power plants as an intense winter storm roared up the Atlantic Coast, bringing heavy snowfall and high winds to a region already beset with several days of extreme cold. The storm is the product of a rapid and rare sharp drop in barometric pressure known as bombogenesis, or bomb cyclone. Heavy snow pounded the East Coast along a front stretching from Maine as far south as North Carolina early on Thursday, knocking out power, icing over roadways and closing hundreds of schools.

02 Jan 2018

Hedging Energy Bets: The Case for a 2018 Oil Bull Run

© Renovacio/Adobe Stock

Hedge funds gamble OPEC will tighten oil market too much. Hedge funds are the most bullish about oil prices in years, expecting further gains even as prices touch multi-year highs and ignoring the risk linked to such a large concentration of positions. A record net long position has been accumulated by hedge funds and other money managers, amounting to 1,183 million barrels in the five biggest futures and options contracts covering crude, gasoline and heating oil. Portfolio managers held a record 1,328 million barrels of long positions in Brent, WTI, U.S. gasoline and U.S. heating oil on Dec.

11 Sep 2017

Hedge Funds Watch U.S. Refinery Restarts

File Image (CREDIT: AdobeStock / (c) Jason Lee)

Hedge funds are betting crude oil stocks will adjust quickly to the aftermath of Hurricanes Harvey and Irma but gasoline and distillate inventories may take more time to normalise. Hedge funds and other money managers increased their combined net long position in the five major petroleum contracts linked to crude, gasoline and heating oil by 46 million barrels in the week to Sept. 5, according to the latest regulatory and exchange data. Fund managers recovered some of their pre…

17 Jul 2017

Low Water Still Hampers Rhine, Danube shipping

File Image: A typical tow makes its way along the Danube River in Germany (CREDIT: AdobeStock / (c) digitalstock)

Water on the Rhine and Danube in Germany remains shallow and cargo vessels cannot sail fully loaded, traders said on Monday. The rivers had fallen below normal levels in late June after dry weather. The Rhine is still too shallow for normal sailings from Duisburg and Cologne to southern stretches of the river, traders said. All of the Danube in Germany is too shallow for normal loading. Shallow water means vessel operators impose surcharges on freight rates, increasing costs for cargo owners.

05 Jul 2017

Asia's Booming Diesel Market Draws Rare European Cargoes

File Image: CREDIT BMT

Rare cargoes booked out of Europe to Asia, Middle East; Indian demand, refinery maintenance boost Asian prices. Oil traders are shipping diesel out of Europe to Asia and the Middle East where strong demand and tighter supplies have boosted prices, in a rare arbitrage that reverses traditional routes. At least three 90,000 tonne diesel cargoes were booked in recent days out of northwest Europe options to go to Singapore and the Middle East, shipping data showed. BP chartered the…

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