News Archive Dec 2007

31 Dec MARPOL law awaits US action
Legislation languishing but EPA still moving ahead with proposals.
In Full
31 Dec Russia's biggest oil firm enters marine fuels market
Says it aims to achieve annual sales of up to 10 million mt of marine fuels and lubricants by 2020.
In Full
31 Dec Singapore benchmarks Q1 term ex-wharf premiums
First quarter 2008 ex-wharf bunker fuel term deal premiums agreed at about $4 pmt.
In Full
31 Dec Chimbusco advises New Year surcharge
31 Dec Downward spiral for oil prices in 2008
Senior bunker industry player predicts 'extreme volatility' but general decline in oil and bunker prices during 2008.
In Full
28 Dec Chevron 'repositioning' with new brand
Renaming for FAMM but 'product technologies will remain globally consistent' company saying.
In Full
28 Dec Venezuela suspends some barge deliveries
28 Dec New lubes manager for Chevron
Global lubricants general manager position filled as company changing face.
In Full
28 Dec Bunker market report from Praxis
28 Dec Search is on for next 'scrubber' trial
Singapore yard to retrofit pollution abatement system.
In Full
28 Dec Acute supply shortage hits S Korea
Bunker fuel prices surging on tight availability.
In Full
28 Dec Indian refiner sells cargo to ENOC
380 cst cargo scheduled for January loading was sold at an undisclosed price.
In Full
27 Dec Panama sees firmer prices
Steady business reported as bunker numbers heading upwards.
In Full
27 Dec Transworld wants fuel efficiency
Shipowner looking to offset rising fuel costs with newer vessels.
In Full
27 Dec Bunker market report from Praxis
27 Dec US oil inventories continue to fall
Bullish DOE report underpins already firm oil market.
In Full
27 Dec Fuel reduction key element in vessel design
World's largest ro-ro carriers will have hulls shaped to cut bunker consumption.
In Full
27 Dec 'No regular market' in Rotterdam
27 Dec Singapore: Stocks of residual fuel up
Middle distillate stocks down to three-week low.
In Full
27 Dec Singapore low-sulphur demand on the rise
Low-sulphur bunker demand increasing since expansion of European SECA.
In Full
26 Dec Oil markets resume $100 push
Thin trading, stockpile worries, and Turkish airstrikes all adding up to bullish sentiment.
In Full
26 Dec Oil tanker seized over major oil spill
Tanker in South Korea's worst spill must pay cleanup costs.
In Full
26 Dec Middle East to take Venezuelan fuel cargo
FAL Oil buys 380 cst fuel oil parcel for the Middle East market.
In Full
26 Dec Horizon raises fuel surcharge to record high
Shipping line to effect new bunker fuel surcharge from February 2008.
In Full
26 Dec Sunken tanker sparks oil spill fears
Chemical tanker sinks off South Korea's northeast Baek Island.
In Full
24 Dec US oil markets up before early close
24 Dec Russian fuel oil output up
Refineries back on stream after maintenance shutdowns.
In Full
24 Dec Indian supplier plans January barge launch
Sea trial for double-hulled bunker tanker has been completed.
In Full
24 Dec Melbourne faces 380 cst shortages
Cargoes arriving in mid-January will replenish current shortages.
In Full
24 Dec Hong Kong to cut ferry emissions
Ferry operators may need to switch to using ultra-low sulphur diesel.
In Full
21 Dec Bunker market report from Praxis
21 Dec Bunkering hubs busy for holiday season
Very few opportunities left to book stems in Fujairah and Rotterdam this side of the New Year.
In Full
21 Dec Tokyo: Prompt supply limited by barges
Limited opportunities for fixing new stems until 6 January.
In Full
21 Dec Europe getting ready for lower sulphur limit
Several suppliers already offering 0.1% sulphur MGO to help owners meet 2008 requirement.
In Full
21 Dec Rotterdam bunker market holds firm on tight barges
21 Dec 'Scientific' study on sulphur options complete
Report assessing impact of various proposals ready for presentation at a crucial IMO meeting in February.
In Full
21 Dec China opens national oil reserve centre
21 Dec MPA advises early compliance with Bunker Convention
Bunker Convention related to oil pollution will enter into force next year.
In Full
21 Dec Shipping company profit estimates up 50%
But analysts say bunker prices will keep further growth in check.
In Full
21 Dec Singapore: MSDS provision to be enforced in 2009
Material Safety Data Sheet provision is currently a voluntary responsibility for the shipping community in Singapore.
In Full
20 Dec Bulk bunker booking in LA
Volumes up as prices falling into line with Asia.
In Full
20 Dec Maersk expands fuel-switch scheme
'Effective environmental improvements with operational flexibility' the key driver.
In Full
20 Dec Spanish player moves into Greek market
Cepsa Marine Fuels to start bunkering in Kali Limenes and Piraeus.
In Full
20 Dec Bunker market report from Praxis
20 Dec Bunker clean-up costs approaching $61 million
San Francisco Bay oil spill response costing an average of $770,000 a day.
In Full
20 Dec Rotterdam firm, rest of year tight
20 Dec Japan's spot market tight
Demand leaves players struggling to meet spot enquiries.
In Full
20 Dec TACA abandons bunker surcharge increase
Competitive pressures made the increases 'untenable'.
In Full
20 Dec Loading resumed from ExxonMobil bunker tank
The oil major's 380 cst storage tank in Hong Kong has completed its routine maintenance.
In Full
19 Dec Bunker barge escapes damage
Near miss as fuel-laden barge running aground.
In Full
19 Dec OceanConnect expands office network, team
Company continues to broaden its 'worldwide footprint' with new location and appointments.
In Full
19 Dec Bunker market report from Praxis
19 Dec US crude, heating oil inventories plummet
Stocks of heating oil down by a third from a year earlier just as winter begins to bite.
In Full
19 Dec Bunker prices expected to hit earnings
Viking Line says current fiscal year likely to see fuel costs rise.
In Full
19 Dec SkySails ship 'ready to sail'
Ship operator looking for bunker savings of 20% to 30%.
In Full
19 Dec Barge rates revised in Istanbul and Izmit
19 Dec Russian energy giant starts bunker operations
Gazpromneft Marine Bunker wants 30% share of the Russian market within three years.
In Full
19 Dec Rotterdam: Barging very tight
19 Dec Singapore residual fuel stocks dip
Bunker traders seeing higher marine fuel demand ahead of year-end holiday period.
In Full
19 Dec Chemoil 're-entering' Singapore with 'renewed vigour'
2008 will mark 'a new era' for independents as Chemoil gains supply chain control in the worlds four biggest bunker markets.
In Full
19 Dec Capsized bunker tanker causes spill
An undetermined amount of oil has escaped from the vessel.
In Full
19 Dec OPEC may raise output in February
Strong oil demand next year could see OPEC increase output quota.
In Full
19 Dec Hyundai to receive crude from oil spill tanker
Oil refiner able to resume some marine fuel supplies.
In Full
18 Dec Collision causes bunker spill from bulker
Coast Guard responding to incident in Great Lakes area as stern tanks ruptured.
In Full
18 Dec Terminal expansion sees 'green' ship measures
Emissions mitigation for shipping traffic at the centre of new port agreement.
In Full
18 Dec SECAs make no difference to overall sulphur levels
Sulphur Emissions Control Areas 'merely redistributing marine fuel sulphur content'.
In Full
18 Dec Platts defends 'rigorous' benchmarking protocols
Welcomes wide market participation in its Asian fuel oil price assessment process.
In Full
18 Dec Rotterdam holds firm despite crude loss
18 Dec Singapore supplier to change ownership
Its parent company Mitsui Mining will sell off its stake to an individual buyer.
In Full
18 Dec DNVPS launches new training programme
New onboard training programme is to help crew members understand MPA's 'five bunker sample' regulation.
In Full
18 Dec Intertek opens new lab inside Universal Terminal
Laboratory is 'strategic investment for Intertek'.
In Full
18 Dec IMO report could 'shed light' on emissions data
Shipping emissions data are 'valuable' but not necessarily accurate, says ICS secretary general.
In Full
17 Dec As crude turns, Houston bunkers follow
17 Dec Fuel oil ban questioned
Diesel spills may be even more harmful to the environment, scientist saying.
In Full
17 Dec PDVSA holiday hours advisory
17 Dec Demand mixed as year-end approaches
Pre-holiday bunkering slots filling up fast in some markets while others report slow demand.
In Full
17 Dec Work on Egyptian bunker terminal moving ahead
Port Said project on target to open in 2010.
In Full
17 Dec Bunker market report from Praxis
17 Dec US snow storms end crude oil’s slide
Crude oil prices climbing; bunker prices firming in Singapore and Fujairah.
In Full
17 Dec Rotterdam still tight for prompt
17 Dec Bunker spill in Tasmania
Boom deployed to contain the slick.
In Full
17 Dec New HK shipowners chairman singles out emission issue
Shipping emissions remain a challenge to the industry, newly elected chair of the shipowners association says.
In Full
17 Dec Sri Lanka supplier invites bunkering partners
State-owned oil refiner wants to expand its bunkering business.
In Full
14 Dec New deal to boost Peru's bunker market
Joint venture announced with 'ample room for growth' as free-trade deal signed.
In Full
14 Dec IMO has a year to 'prove its worth'
International Chamber of Shipping says it is 'absolutely vital' that the IMO acts on ship-generated pollution in 2008.
In Full
14 Dec Rotterdam market holds firm
14 Dec Marine hose executives jailed
Two executives and an independent consultant admit price rigging.
In Full
14 Dec Exhaust gas scrubbers have potential to 'cut CO2 emissions'
Scrubbing technology could solve one of the gravest environmental issues facing shipping.
In Full
14 Dec Dan-Bunkering expands Denmark trading team
14 Dec Japan: October bonded bunker sales up
Bonded bunker sales up year-on-year as demand responds to relatively lower prices.
In Full
14 Dec PetroChina steps up fuel oil trades
Players say PetroChina's growing presence could influence benchmark prices.
In Full
14 Dec Bunker storage tank maintanence in Hong Kong
Loading from ExxonMobil's tank will be suspended.
In Full
13 Dec OPEC oil price on the rise, again
Basket price up as production grows and EIA predicting continuing bullish pressure on 2008 numbers.
In Full
13 Dec Bunker market report from Praxis
13 Dec Aegean 'close' to sealing Bahamas deal
Reports say Aegean founder will go to Venezuela to conclude negotiations.
In Full
13 Dec Chemoil appoints new European Sales Manager
13 Dec ARA firm and tight for prompt
13 Dec Singapore bunker sales continue to slide
Players blame high prices as shipowners hold back.
In Full
13 Dec Singapore: Onshore fuel inventory drop
Middle distillates stocks, meanwhile, climb from week-ago levels.
In Full
13 Dec 'Scrubbers' key to future of bunker market
Ship operators ready to install 'scrubbing systems' as soon as the IMO gives approval.
In Full
13 Dec Norway battles North Sea oil spill
The crude oil was leaked during loading from offshore platform to tanker.
In Full
13 Dec Fujairah refinery officially reopened
Ceremony to mark the first milestone since Vitol took over.
In Full
12 Dec Houston prices move little
Numbers relatively steady, but firming across the board in the US expected.
In Full
12 Dec Fishing boat loses diesel fuel
Coast Guard coordinating response and cleanup efforts.
In Full
12 Dec EPA 'may review' diesel criteria
Exemption does exist from new 0.05% marine diesel sulphur limit, but there may not be any fuel that suits the legal definition.
In Full
12 Dec US oil inventory data support firming crude
Oil also driven higher on speculation that move by world's key central banks could boost economy.
In Full
12 Dec Slow December start in Fujairah
Suppliers say enquiry volumes have been thin despite softer prices, but expect pre-holiday rush soon.
In Full
12 Dec Bunker market report from Praxis
12 Dec Rotterdam firmer on crude gain
12 Dec Sri Lankan conglomerate gets positive rating
Increased competition in Sri Lanka's bunker market may erode margins.
In Full
12 Dec Greek strike suspends port operations
Elsewhere in Europe, Italian and French ports are also affected by strikes.
In Full
12 Dec India: Bunker sales predicted to triple
Ports in Gujarat state have 'huge potential' to capitalise on growth in ship calls.
In Full
11 Dec Refinery problems impact diesel avails
Montreal left short as annual restart delayed.
In Full
11 Dec More fuel switching in the future predicted
Industry poll seeing greater distillate fuel use, but uncertainty ahead of IMO revisions.
In Full
11 Dec High freight rates hit arbitrage
North European fuel oil market sees few fuel oil export opportunities.
In Full
11 Dec Barge congestion in Black Sea port
Four barges out of action in Novorossiysk, according to reports.
In Full
11 Dec Bunker market report from Praxis
11 Dec Compensation agreed four years after bunker spill
Cosco agrees to contribute over $9 million to clean-up costs.
In Full
11 Dec Rotterdam edges higher at midday
11 Dec Hyundai's bunker fuel supply to resume next week
South Korean refiner's bunker supply affected by major spill last Friday.
In Full
11 Dec Indonesian refiner to introduce 380 cst
Pertamina hopes to increase regional market share through offering 380 cst bunker grade from early next year.
In Full
11 Dec Korean tanker hull rule unchanged
Maritime ministry has no intention to accelerate phase-out of single-hulled oil tankers after recent major oil spill.
In Full
10 Dec Bird deaths 'crucial' in oil spill case
Tests will determine liability; likely to run into millions of dollars.
In Full
10 Dec FNSA expands team
10 Dec Shipping's SOx emissions '97 times' aviation
New study also claims shipping industry emits 213 times more SOx than all cars.
In Full
10 Dec Bunker market report from Praxis
10 Dec Oil terminal planned for St. Kitts and Nevis
Project is part of Venezuelan scheme to help its neighbours cope with high fuel prices.
In Full
10 Dec Rotterdam still tight for prompt
10 Dec Fuel oil tender withdrawn
Sources say bids were lower than expected and market is 'over-supplied'.
In Full
10 Dec Maersk Line announces profits
Asia-Europe routes see growth in volumes, but Asia-US routes in decline
In Full
10 Dec South Korea oil spill cleanup needs 'two months'
Oil has stopped leaking from the stricken oil tanker.
In Full
10 Dec Monthly Japanese bunker price breaks record
Monthly retroactive 180 cst bunker price up more than 80% year-on-year.
In Full
10 Dec Singapore bunker fuels show 'consistent quality'
Testing agency says Singapore remains one of the 'very few ports' which has successfully introduced a quality management system.
In Full
10 Dec Hong Kong supplier moves to new office
07 Dec Board poised to approve new cold ironing rules
California requirements to include shore power usage from 2010.
In Full
07 Dec Fuel oil trade still slim at buoyant IMAREX
Trade in freight derivatives soar to new records but bunker fuel futures see little activity.
In Full
07 Dec Bunker market report from Praxis
07 Dec Booms deployed in bid to contain spill
South Korean officials say oil has stopped leaking from the damaged tanker.
In Full
07 Dec US Lines sold after suffering bunker-related losses
Reports suggest high bunker prices proved unsustainable for the container carrier.
In Full
07 Dec Cruise ship falls victim to bunker prices
Cruise operator says high bunker and maintenance costs make veteran ship 'uneconomic'.
In Full
07 Dec Rotterdam market quiet
07 Dec Pilot blamed for San Francisco bunker spill
Californian investigation says pilot ordered 'full speed' in thick fog.
In Full
07 Dec Dan-Bunkering takes two new staff for Shanghai
Expansion to 'continue the steady growth of the company'.
In Full
07 Dec Major oil spill off Korea
Tanker spills some 11,000 metric tonnes of crude oil after collision with crane-carrying vessel.
In Full
07 Dec Oil jumps to over $90 per barrel
Oil prices rebound on US plan to ease the country's housing mortgage crisis.
In Full
06 Dec Barge company under pressure
Promising financial results but employee lawsuit looming.
In Full
06 Dec New Panama rates
06 Dec Dates set for crucial IMO meetings
The IMO has announced its agenda for 2008, the year it hopes to reach agreement on MARPOL Annex VI revisions.
In Full
06 Dec Campaign to ban residual product targets California
Environmental activists expect little support from EPA and want California to lead the way.
In Full
06 Dec Bunker market report from Praxis
06 Dec Gibraltar considering new bunker anchorage
Government reviewing call to open port's eastern anchorage for bunkering.
In Full
06 Dec Bunkers sharply lower as crude prices slip
Bearish sentiment in crude market rubs off on Singapore and Rotterdam fuel oil prices.
In Full
06 Dec Rotterdam market remains tight
06 Dec Singapore: Fuel oil inventories at six-month high
Middle distillates meanwhile at a two-month low.
In Full
06 Dec Titan shipyard to deliver eight double-hulls in 2008
Most of the 6,500 dwt bunker tankers will be deployed in Singapore.
In Full
05 Dec Mexico Pacific IFO closes in on diesel price
Numbers following other markets as MGO remaining steady.
In Full
05 Dec EPA diesel rule causes confusion
US bunkering companies told they cannot sell marine distillates above 0.05% sulphur in Maine and East Coast areas.
In Full
05 Dec Dry bulk rates set to fall
Rates will peak next year, then slide, says chairman of the Baltic Exchange.
In Full
05 Dec Big US inventory draw keeps oil firm
Oil price further supported after US crude oil inventories fall more than expected.
In Full
05 Dec Bunker market report from Praxis
05 Dec OPEC decision sends oil prices up
Producer group rejects calls for more oil to ease prices.
In Full
05 Dec Ship's master to escape criminal charges
Pasha Bulker grounding as combination of 'atrocious weather and poor seamanship'.
In Full
05 Dec Maersk cuts speed to save fuel
Schedule changes will 'complement efforts to mitigate fuel costs' and reduce the shipping company's 'environmental impact'.
In Full
05 Dec Rotterdam market tight
05 Dec Oil prices likely to remain volatile
Oil prices not influenced by supply and demand alone, says analyst.
In Full
05 Dec Oil firms lose appeal against fine
High Court rejects second appeal by oil firms over oil spill conviction.
In Full
05 Dec Indian refiner to offer untaxed 380 cst product
India's largest oil refiner planning to sell duty free 380 cst material in Mumbai.
In Full
04 Dec New Orleans sees Gulf business
Port grabbing price advantage and a brace of orders.
In Full
04 Dec Fuel fears from sunken ship
Officials hampered by stormy weather from assessing extent of pollution effects.
In Full
04 Dec Calls for tighter controls on ship-to-ship oil transfers
UK legislator says there is a need for more effective legislation.
In Full
04 Dec Inland fuel prices boost maritime transport
Container shipping line sees profits grow as companies switch from trucks to ships.
In Full
04 Dec Bunker market report from Praxis
04 Dec Singapore supplier charters extra storage
Surge in fuel oil cargoes from South Korea.
In Full
04 Dec More Aegean shares for sale
Use of over-allotment option increases value of two shareholders' secondary offering to more than $287 million.
In Full
04 Dec Rotterdam market very quiet at midday
04 Dec PetroChina takes over Hong Kong supplier
Deal formally concluded, turning Hong Kong supplier into a subsidiary of the Chinese oil firm.
In Full
04 Dec Singapore: Total Oil welcomes new bunker trader
04 Dec China's fuel quality 'good for now'
DNVPS says 2006-2007 bunker samples from China compare favourably with Singapore.
In Full
03 Dec Fine of $80,000 for Vancouver spill
Monetary penalty levied as prosecution concluding for bunker incident.
In Full
03 Dec Petrobras confirms holiday dates
03 Dec Supplier plans expansion
Bunkers (Gibraltar) 'delighted' with response since operations began in May.
In Full
03 Dec Pilot, shipowner face lawsuit
US government lawsuit suggests Cosco Busan should be sold to pay for bunker fuel cleanup.
In Full
03 Dec Bunker market report from Praxis
03 Dec Europe to push for transport emissions agreement
Wants global shipping and aviation to be included in successor to Kyoto Protocol.
In Full
03 Dec 'Most shipping lines' will cut speed to save on fuel
CMA CGM says bunker bills account for 50% of vessel operating costs.
In Full
03 Dec Petrobras 'close' to Singapore storage deal
Chemoil CEO says company is in 'final stages of negotiations' to lease space at its Helios Terminal.
In Full
03 Dec Rotterdam: Prompt barging tight
03 Dec OPEC unclear on output decision
The oil cartel meets this week to chart its oil output course.
In Full
03 Dec Common sampling point 'must be regulated'
Industry player says getting global bunkering ports to agree to a common sampling point is difficult.
In Full