News Archive Apr 2006

28 Apr US bunkers end week quiet after crude rollercoaster
Prices firming as crude back up with Los Angeles still on the rise.
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28 Apr Hess triples quarterly profit, residual sales up
Refiner and East Coast bunker supplier enjoying favourable returns despite a mixed picture in marketing sector.
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28 Apr Local bunker sources doubt impact of new Bulgarian refinery
Reports say new mini-refinery will produce marine fuels, but bunker traders remain skeptical.
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28 Apr 1.5% sulphur fuel oil available in Portuguese ports from May
Keen to meet customer requirements, bunker supplier says the company will offer low-sulphur grades from May 8.
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28 Apr Rotterdam wary of bearish crude
28 Apr Profits drop on bunker costs
Singapore-listed liner operator posted 70% drop in profits for Q1 on higher bunker and tonnage costs.
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28 Apr Imminent SECA sets the tune for Gothenburg conference
Sulphur emissions from ships and how best to reduce them to comply with new regulations is the thread running through 27th IBC.
In Full
28 Apr Singapore: MGO prices firm on tight supplies
The month of May, especially the first two weeks, may see tight avails for MGO.
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28 Apr Singapore wins award for 'Best Seaport in Asia'
The port showed positive performance in Q1 of 2006 in areas of shipping tonnage and bunker sales.
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27 Apr Gulf barge operator posts impressive result
Bunkers and oil transportation proving to be good business for Kirby's first quarter.
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27 Apr Matson's profit slides, despite fuel saving measures
Container operator unable to cover all of increased bunker costs with fuel surcharge.
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27 Apr Vitol fuel oil tanker runs aground
No reports of spillage from cargo of 300,000 barrels.
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27 Apr UK's MCA gets to grips with MARPOL Annex VI
Pragmatism has guided the MCA's approach to IMO sampling guidelines and other teething problems in implementing the regulation.
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27 Apr Royal Vopak sees operating profit rise 39.3% in Q1
Terminal group announcing first quarter results today, with strong growth seen across all sectors.
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27 Apr Bunker forum to build bridges between commercial and operations
Engineering company promotes increased dialogue and understanding between those in the bunker chain.
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27 Apr Singapore: Stocks of residual fuels up, distillates down
Stocks of residual fuels rose to the highest in six weeks while middle distillates fell to a near two-year low.
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27 Apr Hong Kong: Supplies of 180 cst makes slow recovery
180 cst commences loading but market may still be tight for the month of May.
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27 Apr Oil prices dip below $72 per barrel
Oil prices fell for the third day following a drop in US gasoline and crude inventories.
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26 Apr Engine fuel rule expected in two weeks
California Air Resources Board reviewing final version of auxiliary engine regulation ahead of 15-day comment period.
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26 Apr California LNG carriers powered by natural gas
BHP confirming its alternative vessel fuel plans for its off-shore gas supply project.
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26 Apr Volgotanker problems could hit St. Petersburg fuel oil exports
Volgotanker unable to ship volumes to southern ports, while shipments on northern route are also under threat as river navigation season is set to commence.
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26 Apr Crude surge to push Russian export duties to new highs
Finance Ministry official predicts new record highs when the current monitoring period is over.
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26 Apr Lubrizol: Board declares quarterly dividend
26 Apr Big is beautiful in Rotterdam's marine fuel sector
Rotterdam's marine fuel industry is scaling up to meet the demands of new-generation containerships and should stay on course for continued growth.
In Full
26 Apr Crude drops fail to dent strength in Rotterdam bunker market
26 Apr South Korea: Price spread widens for distillates
Huge price spread of $55 for MDO and MGO, demand healthy ahead of May.
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25 Apr US to free up more oil, bring prices down
President Bush stopping purchases for strategic reserve, pushing for more refineries.
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25 Apr US: New marine lubes company seeks 'super hub' status
A newly formed marine lubricants company in the US Gulf Coast reveals ambitious goal of being a super hub for the marine market.
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25 Apr SPC posts Q1 profit decline
Weaker refining margins and US dollar depreciation hit profits at one of Singapore's top-ten bunker suppliers.
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25 Apr Bunker team changes at PDVSA
One newcomer and one transferral announced.
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25 Apr Rotterdam bunker numbers back down from record high
25 Apr SGX announces launch of OTC clearing facility
SGX will offer OTC clearing of transactions on Singapore fuel oil 380 cst and 180 cst swaps.
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25 Apr Singapore: Bunker prices firm in balanced market
Suppliers noted good bunker availability and healthy demand.
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24 Apr 500 cst bunker fuel gains US popularity
Demand for higher viscosity fuel increasing, despite being cut from ISO standards.
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24 Apr Bunkers boost Valero results
Energy company announcing $35.3 million earnings with 'better than anticipated' marine fuel sales.
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24 Apr Bunkers hit profits at top Arab shipping company
High fuel costs eat into 2005 operating profits despite record turnover for leading Arab Gulf state shipping firm.
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24 Apr Legal storm brewing due to SECA implementation?
Supplier fears discrepancies in sulphur tests could lead to a legal feeding frenzy.
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24 Apr Ballooning fuel costs bite into cruise profits
Bunkers accounted for largest share of Net Cruise Cost increases in Q1 and are expected to remain biggest cost increase factor in 2006.
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24 Apr Crude's strength translates to Rotterdam hike
24 Apr Software holds potential to save bunker costs
SeaRoutes, a software package, has the potential for 5-15% savings.
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24 Apr Gladstone: IBS confirms Larcom dry-docking dates
Bunker barge will be out of service during a 14-day dry-docking from May 16.
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21 Apr Bears stay in hibernation as oil hits $75
Crude goes even higher as US bunker prices hit new records, frustrate buyers, and confound suppliers.
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21 Apr Volendam opens Vancouver cruise season
Bunker market will see 50% boost from busy ship call schedule as cruise lines feel effects of high fuel prices.
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21 Apr Trader departs from Triton
A trader has left the company to pursue his own venture.
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21 Apr Floating storage short term solution to tight Asian tankage
Vitol to place floating storage off Pasir Gudang as tight tank availability, increased trading levels and falling freight rates generate interest in floating units.
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21 Apr Bunker tanker sold for operations in East Africa
A South African firm has sold its tanker to a Greek buyer who will operate the vessel as a bunker tanker off East Africa.
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21 Apr Brief respite for Rotterdam indications
21 Apr Bunker costs set to eat into profit
Asian liner operator has issued profit warning for 2006 on higher bunker prices and lower freight rates.
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21 Apr Japan: Weak market ahead of Golden Week
Demand dull ahead of Golden Week holiday; bunker supplies not affected by Cosmo refinery's fire.
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20 Apr California endorses new emissions controls
ARB considering at public meeting its plan for reducing environmental impact of goods movements through local ports.
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20 Apr Bunkers follow crude oil to fresh peaks
Crude prices retreating after hitting new all-time highs today, with bunker prices in key ports also posting new records.
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20 Apr 'Reckless' captain jailed for drunken pollution offences
Captain of anti-pollution tug faces eight months in prison after running vessel aground and causing fuel leak.
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20 Apr Imminent pipeline launch holds promise for Caspian bunkering
With the Baku-Ceyhan pipeline due to be launched, bunker supplier anticipates increased vessel traffic will boost bunkering volumes in Baku.
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20 Apr Container line earnings under pressure
Q1 results for major container line show reduced revenue per unit as bunker prices hit new records.
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20 Apr Singapore: Stocks of residual fuels and distillates up
20 Apr Crude pushing Rotterdam bunkers ever higher
20 Apr Taiwan posted bunker prices reach new record high levels
Posted prices lifted by regional bullish bunker price trend and high crude oil prices.
In Full
20 Apr Titan considers floating VLCC storage in Malaysia
New VLCC storage will be Titan's third floating facility at Tanjung Pelepas.
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19 Apr Vessels to run on natural gas as part of California LNG project
BHP Billiton announces emissions reduction plans and alternative fuels as part of its offshore gas platform project.
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19 Apr Shipowners, port oppose Texas ship engine fuel law
Houston port authority and local shipowners bemoan absence of cost-benefit analysis, fuel availability.
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19 Apr DOE & API: Weekly US oil inventory snapshot
US oil inventory reports show sharp drops in stocks of gasoline, while crude inventories remain above average for the time of year despite draw.
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19 Apr World's biggest containership makes Rotterdam fuel stop
The Cosco Ningbo making first fuel stop in Rotterdam during maiden voyage, same supplier to provide bunkers in Antwerp shortly.
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19 Apr Hoegh latest to install MariNOx® system
System will monitor NOx and CO2 emissions on its 16,006 deadweight tonne (dwt) vehicle carrier Hual Tokyo.
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19 Apr Rotterdam: BP launches second double-hull lube barge
The Vanora and Victoria are reputed to be the largest lube oil barges in the world, and are well-placed to cater to larger ships.
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19 Apr Hong Kong: Shortage of 180 cst persists
Tight supplies expected to last until late April as most terminals are out of stock.
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19 Apr Malaysian firm seeks alternative site for fuel storage facility
Company seeking a new site in Johor to build its fuel storage facility.
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18 Apr PDVSA advises holiday on Wednesday
18 Apr Port wins another 'clean air' award
Los Angeles receiving more recognition for its emissions programmes ahead of cold ironing conference.
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18 Apr Bulls run loose on Wall Street
US bunker prices nearing record levels as oil setting yet another new high.
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18 Apr US plans SECA following Annex VI ratification
Government analysing emissions controls and expecting that a SECA is 'inevitable' in the near future.
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18 Apr Fuel cost optimisation drives engine selection
The need to optimise fuel consumption and cost as well as increased payload capacity have driven the selection of engine for new Viking Line vessel.
In Full
18 Apr Finnlines: MARPOL regulations will raise fuel costs 20%
Finnlines CEO says imminent sulphur emissions legislation will raise fuel costs by 20%.
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18 Apr Almost no offers in firm Rotterdam market
18 Apr OPEC to maintain high output level this year
Sufficient crude stocks present to meet unexpected supply shortage, say OPEC officials.
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18 Apr Bunker costs erode operating profit
Japanese shipping firm likely to post lower than forecast operating profit for the year ended March 31.
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17 Apr NYMEX: New closing record over $70
Bullish exchange establishing new high as analysts predict market will 'test' $75.
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17 Apr Brazil prices stay steady
After last week's firming, Petrobras holds prices level and reports good avails in main ports.
In Full
17 Apr LA announces cold-ironing conference
'The future to clean air' 3-day event to review port's alternative maritime power programme.
In Full
17 Apr Halt to Volgo-Balt could slash fuel oil exports
St Petersburg cargoes predicted to fall by 4 million tonnes unless canal is dredged.
In Full
17 Apr Estonia: Officials want to raise vessel, remove fuel oil
Worries persisting over possible pollution from sunken Russian ship.
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17 Apr Singapore: March bunker sales touch 2.3 million mt
First quarter bunker sales volume posted more than 6.5 million mt, up 10% over March 2005.
In Full
14 Apr Americas markets closed for Easter weekend
Trading to resume Monday after bearish week and record highs.
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14 Apr MPA introduces new Bunker Award
Bunker Award among five new award categories as part of September 2006 Maritime Week in Singapore.
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14 Apr IEA says OPEC needs to produce more oil
Higher oil output needed from OPEC to meet rising world demand and offset shortfall from other producers.
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13 Apr Oily water penalty far shy of record
US court handing out pollution fine to Tokyo-based company but showing leniency in the amount.
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13 Apr Singapore: Vopak seeking to operate underground storage caverns
Exploratory talks held with authorities on operation of underground oil storage project, says Chairman.
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13 Apr Reports: Transbunker to delay sale
Transbunker Group of companies delaying planned sale of $125 million of Credit Linked Notes.
In Full
13 Apr Rotterdam: Prompt bunker stems still problematic
13 Apr Singapore: Distillate stocks at 11-week low, residual fuels up
Stocks of middle distillates plunged while residual fuels rose.
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13 Apr Titan sees opportunity in China's fuel oil market
Titan investing in storage facilities and looking to increase its carrying capacity of oil products in China.
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13 Apr Hong Kong: Avails tight on 180 cst
Availability of 180 cst unlikely to recover until late next week.
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12 Apr Crude steps back from the brink, bunkers go higher
Oil near record levels prompting market concerns, with no end in sight to volatility.
In Full
12 Apr New ex-pipe berth boosts Aruba volumes
Supplier reporting good results from expansion but yet to see full potential.
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12 Apr 2005 profits slide, but 2006 looks better, says Titan
Slower Chinese import growth, falling freight, depreciation, high interest and increased bunker fuel costs blamed for lower 2005 profits.
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12 Apr Titan: Bunkering businesses expanded revenue 140% in 2005
Distribution businesses comprising bunker operations saw revenues grow, while Hong Kong operations increased market share by doubling volumes.
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12 Apr Rotterdam: Many suppliers fully booked into next week
12 Apr Singapore: First underground storage caverns expected in 2009
Minister for Trade and Industry announcing the republic's underground storage project will break ground this year.
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12 Apr Vopak commissions $310 million Banyan Terminal in Singapore
The new terminal brings Vopak's Singapore storage capacity to 1.9 million m³ for oil and chemical products, with more to come.
In Full
11 Apr Fuel oil drives Houston prices to fresh highs
Firming 3% sending bunkers to price levels not seen since last year's hurricane season.
In Full
11 Apr Matson cuts costs with green policies
Shipowner adopting green-friendly operating policies as well as saving fuel costs with lower vessel speeds.
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11 Apr Master and manager ordered to pay huge pollution fine
Maersk Barcelona crew members incurring hefty fine of nearly $1 million for pollution offences in French waters.
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11 Apr LSFO demand and cost set to soar
ARACON speakers predict increasing pressure on availability and higher premiums as LSFO demand takes off in the next few years.
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11 Apr Oil markets: Brent crude hits record high
Record highs of over $69 per barrel as ongoing tensions over Iran's nuclear program left markets shaky.
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11 Apr Cost increases prompts TSA to up rates on Asia-bound routes
Rising costs for fuel and port fees as well as concerns over surplus of vessels prompt rate hike.
In Full
11 Apr ARA markets surge in line with crude movements
11 Apr Japan: Nippon Oil & NYK set record retroactive bunker price
Japan's biggest shipping company and Nippon Oil Corp. have set their highest ever retroactive bunker price for March.
In Full
10 Apr Cruise season starts without 1.5% agreement
Port authorities unable to secure low-sulphur fuel commitment from cruise lines for 2006 summer season.
In Full
10 Apr 'Poetic justice' in jail term for magic pipe offence
US court handing down jail time for MSC Elena chief engineer after company receives record fine.
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10 Apr Oil markets 'spooked' by reports on US/Iran tensions
Oil prices surged after reports that the US is mulling military action against Iran, while supply concerns persist in Iraq/Nigeria.
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10 Apr Indian 380 cst fuel oil on offer
Indian refiner has issued a tender to sell monthly cargoes of product said to suit marine fuels market.
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10 Apr IMAREX: Bunker fuel derivative trading shows promising Q1 growth
The total nominal value of bunker fuel oil contracts traded in March rose 39% against February.
In Full
10 Apr ARA barge operator launches ninth newbuild
Naming ceremony taking place today for the latest new-generation bunker barge to join ARA fleet.
In Full
10 Apr Rotterdam market firm ahead of Midday
07 Apr Houston prices set to fall
Suppliers expecting market to soften later in April, despite recent firming.
In Full
07 Apr EU could take unilateral action on fuel quality
Dutch NGO says EU legislators may take unilateral action on bunker fuel quality if the IMO does not agree to improve quality requirements.
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07 Apr Supplier welcomes new staff member as team expands
07 Apr Voyage slowdown as high prices take toll
One of the world's leading tanker owners has warned that high bunker prices are impinging upon vessel transit times as tankers slow down.
In Full
07 Apr Shell to produce low sulphur bunkers in Rotterdam
Shell Marine Products reveals plans to produce low sulphur marine fuel oil at the Pernis refinery.
In Full
07 Apr South Korea: Bunker prices on upward trend
380 cst prices are expected to hit $350 pmt while offers for small quantities of MGO were seen at $620 pmt.
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07 Apr Russian tanker up in flames
Three explosions left a hole in the tanker, spilling fuel into the water.
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06 Apr EPA rewards Port of Los Angeles
Port recipient of award for cold ironing project, planning new terminal.
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06 Apr Quality and availability main concerns for Asian shipping
BP Marine event highlights quality and availability of low sulphur products as major concerns, while lubricant issues are also high on agenda.
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06 Apr Chemoil unveils plans for public offering
IPO plans announced at ARACON2006 as the next logical step for international marine fuel supplier as it celebrates 25 years
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06 Apr Scrubber development beats regulations in environmental stakes
MES President Peter Toombs tells Bunkerworld its scrubber provides SOx emission reductions exceeding SECA demands, and looks promising in meeting future regulations.
In Full
06 Apr Rotterdam market firm at midday
06 Apr Singapore: Middle distillate stocks at 19-week high
Both onshore stocks of residual fuels and middle distillates rose in the week ended April 5.
In Full
06 Apr Singapore: Oil trading hub faces competition
Refinery developments in the Asian region poised to undercut activities in Singapore's oil trading market.
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06 Apr Hong Kong: MGO prices nearing $600 pmt
MGO prices expected to firm further while supplies of 380 cst under slight squeeze.
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06 Apr Crude prices rise, US stockpiles fall
Drop in US stockpiles of gasoline and distillates; OPEC March output lowest this year.
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05 Apr Port receives clean air award
EPA recognising Seattle for its efforts to improve air quality in the region.
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05 Apr DOE & API at a glance: This week's key US inventory figures
05 Apr IMAREX: NOS merger will increase liquidity, improve transparency
Companies merging ownership to form integrated trading and clearing platform.
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05 Apr Outlook still murky as SECAs loom
On the eve of the first SECA, leading Swedish supplier Stena Oil fears only the most conscientious owners will be ready to comply.
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05 Apr Softness continues to supress Rotterdam activity
05 Apr Bunker trader leaves O.W. Bunker Far East (Singapore)
05 Apr World oil consumption needs to slow down
Relentless consumption for oil may surpass output capacity from Saudi Arabia.
In Full
05 Apr New Mangalore Port plans to expand bunkers
Plans to create bunkering facilities are part of a larger expansion project.
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04 Apr Ship main engines to burn distillate fuel by 2010, report says
California air agency considering sweeping new regulations in effort to meet clean air targets.
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04 Apr Panama congestion worsens
Ship buildup increasing but suppliers seeing little rise in bunker demand as resupply worries increase.
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04 Apr Spill remains a mystery as officials await fingerprint analysis
Fingerprint analysis results expected this week after heavy fuel oil spill detected at Walvis Bay.
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04 Apr Major expansion announced for Fujairah terminal
Terminal expansion seen as a boost for Fujairah's hub-function for oil products in the Middle East.
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04 Apr ARA: Trading begins in 1.5% sulphur barge market
Following the launch yesterday of a new 1.5% sulphur fuel oil barge contract, several traders entered bids.
In Full
04 Apr Low bidding interest keeps Rotterdam on back foot
04 Apr TSA sets monthly bunker fuel surcharge
First announcement of monthly bunker fuel surcharge after shifting away from quarterly adjustments.
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04 Apr Singapore bunker firm among delegation to Algeria
Accredited Singapore bunker supplier among the republic's delegation to bid for projects in Algeria's energy sector.
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03 Apr Venezuela proposes $50 crude
President Chávez wanting to lock in long-term price to keep Venezuela's heavy crude economical and boost reserves.
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03 Apr Tech company offers 20% fuel savings
Houston-based company launching new fuel management solution monitoring vessel speed for optimum fuel efficiency.
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03 Apr Groups call for 1.5% sulphur limit globally
Organisations urge IMO to consider drastic cuts in shipping emissions as MARPOL Annex VI review begins.
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03 Apr ExxonMobil launches technical help desk for lubes customers
Fast response specialists giving 'reliable answers' to customer problems.
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03 Apr Former FAMM man joins O.W. Bunkers
Team expands with trader bringing 15 years of bunker market experience.
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03 Apr UK: Bominflot installed in new office
03 Apr Lubrizol approves divestment of non-core businesses
Divestment will help Lubrizol pay back debt from $2 billion acquisition and see the company focus on its original lubricant additives business.
In Full
03 Apr Rotterdam opens quiet on bullish crude
03 Apr Kuwait's oil refining capacity set to increase
New 615,000 bpd refinery and upgrades will boost the country's oil refining capacity by around 50%.
In Full
03 Apr Japan: February bunker sales down 15.2%
Fuel sales to ocean-going vessels decreasing on month and on year.
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03 Apr Poseidon Challenge: Low-sulphur bunkers primary concern
INTERTANKO expresses concerns about availability of low-sulphur bunkers, IBIA focuses on quantity assurance.
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