News Archive Dec 2006

29 Dec US markets busy as year ends
Suppliers seeing plenty of enquiries as year of rollercoaster prices draws to a close.
In Full
29 Dec Chinese port claims world record
Shanghai cargo turnover highest in the world, but marine fuel sector lags behind.
In Full
29 Dec Rotterdam market very quiet again
29 Dec TV soap to give Singapore’s marine industry a boost
MPA says young people unaware of the “exciting opportunities” provided by Singapore’s role as a maritime cluster.
In Full
29 Dec Bunker costs trigger Maersk rate rises
Container giant to increase freight rates by as much as 15%.
In Full
29 Dec Singapore quiet ahead of holidays
Players expect premiums to hold firm in early January, but doubt they can be sustained.
In Full
29 Dec Oil prices up as US crude stocks plunge
Crude oil prices up slightly, but mild US winter keeps fundamentals soft.
In Full
28 Dec California claims ship engine jurisdiction
Complex legal battle brewing over state authority to regulate international shipping.
In Full
28 Dec Santos expects year-end resupply
Tightening avails across main Brazilian ports with little fuel oil product available.
In Full
28 Dec Taiwan's fuel oil prices could rise
Taiwanese official says a new mechanism for setting the price of fuel oil will be introduced next month.
In Full
28 Dec Rotterdam bunker market firming
28 Dec New Rotterdam pricing system launches next week
Argus assessments for European hub's fuel oil prices begin on Wednesday.
In Full
28 Dec Bunker spill bulker 'defies' authorities
Taiwanese officials to detain ship until owner lodges $3 million to cover cost of clean up.
In Full
28 Dec Saudi cargoes to arrive as Western in-flows slacken
Saudi Aramco to sell another straight-run bunker grade cargo into Singapore.
In Full
28 Dec Oil refiner to restore bunker spill area
Projects to rehabilitate ecosystems after the disastrous Guimaras bunker spill.
In Full
28 Dec Singapore: Residual fuel stocks at 9-week low
Stocks of middle distillates also fell to 12-week low.
In Full
27 Dec Bumper demand in Panama
Scheduled resupply and buoyant market grabbing buyer interest.
In Full
27 Dec Fishing halted as bunker clean-up continues
Taiwanese officials say bunker spill could cause $3 million of damage.
In Full
27 Dec Chinese supplier challenges Chimbusco monopoly
Shenzhen supplier quotes bunker prices competitive to Hong Kong, breaking Chimbusco's price monopoly.
In Full
27 Dec Rotterdam market quiet at Midday
27 Dec Oil eases despite Iranian supply fears
Oil prices react to milder US winter temperatures, indifference to tense political situations in Iran and Nigeria.
In Full
27 Dec South Korean bunker supplies under pressure again
Forecasters predict long-term LNG shortages as power stations raid Korea’s intermediate fuel oil stocks.
In Full
26 Dec Quiet Boxing Day sees bearish oil
US bunker markets seeing few enquiries but softer oil prices on commodity markets.
In Full
26 Dec China establishes second petroleum exchange
Second exchange is set up in Dalian four months after the launch of the Shanghai Petroleum Exchange.
In Full
26 Dec Fuel oil pollutes Taiwanese coast
A Taiwanese official blames the grounded ship's captain for ''dozing at the time'' of the accident.
In Full
22 Dec Port welcomes new ship fuel rules
Regulations an "important interim step" ahead of cold ironing plans.
In Full
22 Dec 'Annus horribilis' for Rotterdam suppliers
Bunker suppliers hope for a better trading climate in 2007, possibly aided by new price discovery methodology.
In Full
22 Dec Bunker players must 'engage the legislators'
IBIA official says the marine fuel industry must not only ask the questions, but come up with the answers.
In Full
22 Dec New moves to end Mumbai bunker crisis
Deliveries have dwindled by 90%, but players remain hopeful.
In Full
22 Dec Shipping carbon cap could be next
EC agrees to bring aviation into its emissions trading scheme despite industry calls for 'global approach'.
In Full
22 Dec Rotterdam winds down for Christmas holiday
22 Dec Singapore bunker stocks shrinking
Western cargo arrival volumes weak for January, bunker prices expected to be bullish.
In Full
22 Dec Chemoil wants to buy entire bunkering terminal
Helios Terminal, totalling 440,000 m³, is expected to be operational by end-2007 in Singapore.
In Full
21 Dec Carnival predicts higher fuel costs
Cruise line forecasting firmer prices for 2007 after enjoying lower costs for the quarter.
In Full
21 Dec Fuel rule start date clarified
California providing additional guidance on applicability of distillate regulations.
In Full
21 Dec Oil spill disaster sinks Solar I owner
The owner of the sunken tanker Solar I left 'virtually bankrupt' by Guimaras disaster.
In Full
21 Dec Strong bunker demand in St. Petersburg
Fuel oil exports continue to flow as Russian port stays ice-free.
In Full
21 Dec Fuel oil cargo fixed for Singapore
Indian fuel oil exports to Singapore expected to maintain their increased level.
In Full
21 Dec Singapore: Residual fuel stocks fall
Stocks of residual fuels extend losses from last week to hit an eight-week low.
In Full
21 Dec Hong Kong faces supply crunch
Bunker market almost emptied of bunker products until early next year.
In Full
20 Dec Chemoil launches new barges
New York's leading supplier adding three dedicated barges to market, switching operator.
In Full
20 Dec New port pollution study launched
Researches hoping to quantify emissions from ships, reduce maritime pollution.
In Full
20 Dec US crude oil stocks dip
US Gulf Coast fog slows crude imports, but key product stocks rise.
In Full
20 Dec Singapore to set aside more space for bunkering
MPA hopes move will meet growing bunker demand and encourage more ships to refuel.
In Full
20 Dec Istanbul barge rates to rise
Rate rise to cover increased barge running expenses, including bunkers.
In Full
20 Dec Durban busy as year end nears
Refiner increases IFO output to meet demand.
In Full
20 Dec Cape Town distillates run dry
Resupply "the end of next week" at the earliest.
In Full
20 Dec $37 million fine for oil dumping
New record US fine for oil pollution offences.
In Full
20 Dec Solar position for WFS chief
Paul Stebbins has been appointed to the board of directors at solar energy firm.
In Full
20 Dec Chemoil moves to new levels
Two Chemoil offices are changing floors.
In Full
19 Dec Gulf suppliers struggle to recover
Heavy fog lifting but delays to bunker deliveries continuing.
In Full
19 Dec Lawsuit claims bunker rules 'unlawful'
Shipowners seeking permanent injunction of distillate fuel regulations.
In Full
19 Dec 2007 shaping up for box liners
New year could spell the end of freight rate and bunker-related losses.
In Full
19 Dec Singapore snaps up Saudi cargo
Glut of high-viscosity fuel oil boosts market for 180 cst cargo.
In Full
19 Dec Singapore bunker differentials back in black
After negative November, even a slight bunker premium to cargo values appreciated.
In Full
19 Dec Avails tighten in Asian ports
Trader advises no bonded avails in Japan this side of the New Year, South Korean supply also in doubt.
In Full
19 Dec Barge deliveries resume in Huleva
18 Dec Clean air port conference dubbed a success
Ports committing to "continue dialogue" on reducing emissions following meeting.
In Full
18 Dec APL tests new fuel technology
Shipowner adding water to fuel, taking other measures for cleaner ship emissions.
In Full
18 Dec Low sulphur plans keep forward prices strong
Plans for North Sea Sulphur Emissions Control Area are putting pressure on forward prices for low sulphur fuel oil.
In Full
18 Dec New bunker firm enters Singapore
Chinese-based group opens office to procure bunker product for the port of Shenzhen in China.
In Full
18 Dec Rotterdam market still firm
18 Dec Break in fog allows shipping to resume
Houston bunker stocks left swollen after fog disrupts demand.
In Full
18 Dec Chemoil announces low-sulphur offer
Both MDO and MGO to be supplied at the ports of Los Angeles, Long Beach.
In Full
15 Dec SECA website launched
New information portal for US work on sulphur control proposal.
In Full
15 Dec LA grabs business, Houston disrupted
West Coast prices continue downward as fog delaying Gulf Coast operations.
In Full
15 Dec PDVSA staff change
15 Dec Bunker players protest against safety rules
IBIA chairman says proposals would turn a document designed to protect seafarers “into some sort of quality assessment for the benefit of the shipowner”.
In Full
15 Dec Testing agency says distillates would 'solve a lot of problems'
But outgoing DNVPS chief doubts refiners would be able to produce enough distillate material.
In Full
15 Dec Crude oil markets firm on OPEC decision
Oil producers’ cartel approves output cut, but not until February
In Full
15 Dec Rotterdam players may welcome Argus alternative
Reports indicate that several fuel oil traders could migrate from Platts MOC to planned Argus trading windows.
In Full
15 Dec Rotterdam market firm Friday morning
15 Dec DNVPS and MPA 'should have the same interests'
The departure of the head of DNVPS had nothing to do with differences between the agency and the Singapore port authorities.
In Full
15 Dec Latest entrant brings HK physicals to eight
Supplier is chartering barges on an "order by order" basis.
In Full
14 Dec Shipowners file legal challenge to California fuel rules
January 2007 implementation will go ahead but case resting on state-level jurisdiction.
In Full
14 Dec US Iraq withdrawal could lead to oil price drop
Analyst predicting Saudi intervention and production increase even as OPEC today lowering quotas.
In Full
14 Dec Aegean releases more shares
Additional shares sold to cover over-allotments, price softening.
In Full
14 Dec Chemoil shares climb in first day of trading
First minutes of trade on Singapore Exchange see share prices $0.17 above IPO.
In Full
14 Dec Congestion persists in Rotterdam
14 Dec DNVPS head leaves Singapore
Per Holmvang says he faced an "array of challenges and opportunities".
In Full
14 Dec Singapore stocks of residual fuels fall
Onshore stocks of fuel oil drop for the first time in seven weeks.
In Full
14 Dec Hong Kong targets MARPOL Annex VI status in 2007
Some government officials say it could be adopted within months, but the marine department ''do not wish to rush''.
In Full
14 Dec Storm may limit bunkering in Hong Kong
Bunker deliveries in the South Lamma Anchorage may be disrupted.
In Full
14 Dec Asian fuel oil traders may resist Argus moves
New pricing system could require more disclosure than players would be willing to support.
In Full
13 Dec US West Coast markets crash
Ample avails, over-valuing, and slack demand sending prices tumbling.
In Full
13 Dec Biofuels boost commodity prices
Energy crops impacting economies as biofuel use in consumer and marine markets increasing.
In Full
13 Dec US oil stocks fall again
Oil prices head higher after weekly US inventory report.
In Full
13 Dec Bunkering back to normal in Gibraltar Straits
Heavy swells die down. Suppliers say forecast is good for the rest of the week.
In Full
13 Dec Kandla: Hopes to resume IFO380 supply next week
Barge used to supply IFO380 has been out of play since end of November.
In Full
13 Dec Supplier to expand from Mundra base
Adani aims to service Gujarat ports as well as develop offshore bunkering hub with own barges.
In Full
13 Dec China's fuel oil traders look for growth in bunker sales
Bunker sales could rocket if Chinese ports begin offering attractive prices.
In Full
13 Dec Rotterdam congestion continues
13 Dec Chemoil IPO almost 5 times subscribed
CEO encouraged by strong response to its IPO, raising $101 million excluding overallotment option.
In Full
13 Dec Singapore secures new bunker sales record
Singapore's bunker sales have already broken 2005 record with a month to go.
In Full
13 Dec SSA cautious on switch to distillate fuel
The Singapore Shipping Association says INTERTANKO's proposal needs detailed feasibility study.
In Full
12 Dec Auxiliary engine fuel rule conference call scheduled
California ARB looking for discussion and input ahead of 2007 implementation.
In Full
12 Dec Mixed bunker picture as crude slides
US prices and avails vary port-to-port as year end approaching.
In Full
12 Dec Chinese supplier to open Singapore unit
One of China's newly-approved bonded bunker suppliers to open Singapore trading base.
In Full
12 Dec Strong interest in Chemoil's shares
Heavy oversubscription reported for shares offered to the public.
In Full
12 Dec Major expansion for Amsterdam terminal
Valero LP unit sets out plans to boost storage capacity and oil product loading facilities.
In Full
12 Dec Rotterdam barge trade quiet as congestion continues
12 Dec Oil prices down on warmer US weather
Market remains uncertain what to expect from Thursday's OPEC meeting.
In Full
12 Dec Talk of another shortage in Korea
Bunker traders anticipate tight availability next week, oil refiners think otherwise.
In Full
11 Dec US confirms SECA study timetable
MARPOL legislation going through consent phase as EPA considering SECA plans.
In Full
11 Dec Malta fears for yacht refuelling business
"Abramovich might want to go to Tunisia for cheaper fuel," says supplier.
In Full
11 Dec Argus to compete with Platts on pricing methodology
Argus Media to introduce two daily 30-minute fuel oil trading sessions in Europe beginning 2007.
In Full
11 Dec Collision causes bunker spill
Punctured fuel tank causes 'reasonably serious spillage'.
In Full
11 Dec Congestion continues in Rotterdam
11 Dec UK bunker supplier sees volumes grow
PBI confident it can meet low sulphur fuel demand.
In Full
11 Dec Bunker oil residue requires attention
Yet to be removed bunker oil residue affects five villages in the Guimaras area in the Philippines.
In Full
11 Dec Aegean shares up 14% on debut
Share price traded up more than $2 on the New York Stock Exchange last Friday.
In Full
08 Dec ARB announces cold-ironing workgroup
Stakeholders invited to discussions as California works toward shore power regulation for ocean-going vessels.
In Full
08 Dec Oil blamed for whale deaths
Whales and a dolphin found dead off the coast of Algeciras.
In Full
08 Dec Traders flock to new Singapore storage tanks
Fuel oil traders, including Shell, are snapping up new oil tanks before they are even built.
In Full
08 Dec Supplier to launch after New Year
Bunkers (Gibraltar) to avoid the holiday season.
In Full
08 Dec Aegean IPO raises more than expected
Initial reports say share price has been at the top of the forecast range.
In Full
08 Dec Barge congestion persists in Rotterdam
08 Dec Tax dispute hits oil exports from key Russian port
Volgotanker's decision to mothball fleet triggers fall in St. Petersburg volumes.
In Full
08 Dec China relaxes grip on refined oil wholesale market
Break-up of Chimbusco's bunker market monopoly position could soon be a reality.
In Full
08 Dec SK Shipping makes first IFO supply off West Africa
Introducing another bunker tanker next year is a possibility if IFO demand picks up strongly.
In Full
07 Dec Brazil supply dates pushed further out
Product shortages persist in some ports, but no reported problems with high viscosity supply in Rio Grande.
In Full
07 Dec Oil major sticking to non-Platts benchmark
Royal Dutch Shell in Singapore has now sold six fuel oil cargoes on prices linked to Argus.
In Full
07 Dec Cautious optimism for Las Palmas bunker industry
Hope for bunker market as plans for new liquid bulk terminal take shape.
In Full
07 Dec Repsol to re-investigate Prestige wreck
Fuel oil still appearing in sea area where the tanker went down.
In Full
07 Dec Mexican bunker industry needs 'urgent reform'
Ports likely to face a 'tidal wave' of demand.
In Full
07 Dec Global trader expands with new Mediterranean office
Netherlands-based marine fuels trader wants to continue growing its business.
In Full
07 Dec Rotterdam market firm with loading congestion
07 Dec Singapore: Stocks of residual fuels and distillates up
07 Dec Japan: November retroactive IFO price down
NYK, Nippon Oil agree fall in bunker prices for the fourth month in a row.
In Full
07 Dec OPEC urged to not reduce production
IEA wants oil cartel to hold off on any output cut until the end of January.
In Full
07 Dec Barging schedule tight in Japan
Bunker stock levels have been low since the beginning of December.
In Full
06 Dec US oil inventory erosion continues
Stocks of crude and key oil products decline even as imports recover and refineries boost output.
In Full
06 Dec Antwerp refinery back on stream
Fuel oil traders expect refinery to be offering product again on Friday.
In Full
06 Dec EMSA strengthens oil spill response fleet
Two more bunker tankers join European anti-pollution programme; further expansion planned.
In Full
06 Dec Bunker spills contribute to worsening record
The number of oil spills in Russian port is growing.
In Full
06 Dec Shipping line diverts traffic to avoid Piraeus
Bunker deliveries normal despite overtime ban, but worries remain.
In Full
06 Dec Major bunker brokers join forces
Wilhelmsen Bunkers and Premier Marine Fuels are merging to form firm with "high environmental awareness profile".
In Full
06 Dec Rotterdam barge market continues quiet
06 Dec High-seas re-fuelling to start in potential bunkering hub
Indian firm to take delivery of barge and start high-seas bunkering in the Gulf of Kutch.
In Full
06 Dec Oil prices slip slightly
Oil prices fall on warmer weather forecast in the US, OPEC output doubts.
In Full
06 Dec More bunker product heading to Singapore from Kuwait
Kuwait Petroleum Corp has offered its fourth parcel into Singapore within a month.
In Full
05 Dec Instant fuel and lubricant analyzer offered to ships
New vessel-based oil, additive and fuel analyzer claims to provide instant readings of sulphur content, damaging metals and cat fines.
In Full
05 Dec November gains for fuel oil derivatives
Bunker fuel oil and freight options showed the largest increases in IMAREX's second best month ever.
In Full
05 Dec SkySails ready for commercial operations
Beluga Shipping welcomes 'environmental dividend' of fuel-saving equipment.
In Full
05 Dec Chemoil IPO attracts three major investors
Singapore's Temasek and two US investment firms reported to have singed up for big stakes.
In Full
05 Dec Congestion still reported in Rotterdam
05 Dec South Korean bunker supplies back to normal
Elsewhere, Hong Kong experiencing terminal congestion and Japan's bonded supplies are squeezed.
In Full
05 Dec APL turns to technology to reduce emissions
APL to test water-in-fuel emulsification and other modifications aboard a cargo ship to reduce harmful emissions.
In Full
05 Dec New player eyes Mumbai bunker market
India-based firm ready for bunkering business with new barge but bunker supplies in Mumbai remain suspended.
In Full
04 Dec Boost for marine fuel cell development
Wärtsilä-led research consortium receives EU grant to develop renewable fuels technology for ships.
In Full
04 Dec Bunker supplier turns to 'Singapore model'
Caribbean supplier looking at CP60 as it moves to update its procedures.
In Full
04 Dec Statoil signs $1.6 billion supply contract
Statoil will supply low-sulphur MGO to subsidiary for all vessels and installations working on the Norwegian continental shelf.
In Full
04 Dec Aegean poised for IPO and management changes
Aegean's revived New York IPO hopes to raise close to $150 million, President and CEO to step down upon completion.
In Full
04 Dec Double move for Bominflot
New premises for Greek and Scandinavian offices.
In Full
04 Dec Quiet start to the week in Rotterdam barge market
04 Dec US ship manager lowers bunker surcharge
Lower bunker fuel surcharge was 'due to a substantial decrease of oil'.
In Full
04 Dec OPEC members split on decision to cut output
Some members concerned over high inventories, others say oil price remains strong.
In Full
04 Dec Hong Kong Shipowners Association wants 'clean fuel'
HKSOA maintains supports for switch to distillates and challenges two other Asian shipowners associations for disagreeing.
In Full
01 Dec Concern over California distillate sulphur levels
Marine diesel oil may not be usable in auxiliary engines to comply with impending fuel regulations.
In Full
01 Dec More expansion for SEACARD
Spot market bids and offers will be available online under DESC programme from next year.
In Full
01 Dec Cepsa expands bunker supply operations to Malta
Spanish bunker supplier describes new offer as a 'first step' in world-wide development.
In Full
01 Dec Korean players put 'bad month' behind them
Bunker prices in South Korea have been tumbling as supplies return to starved market.
In Full
01 Dec Barge detention halts IFO380 supply in Kandla
Barge expected back in the next week but meanwhile enquires have gone unquoted.
In Full
01 Dec New player entering the Baltic bunker market
Already active in distillate sales, new entrant also plans to offer LSFO later.
In Full
01 Dec Loading congestion reported in Rotterdam
01 Dec Asian shipowners welcome new anti-piracy initiative
ASEAN shipowners association also supports sulphur caps but questions the ability by refineries to supply.
In Full
01 Dec Hong Kong: Congestion at terminals, 180 cst tight
Market situation expected to improve latest next week.
In Full