News Archive Jan 2005

31 Jan Japan bunker sales up 6.1% on year
31 Jan Applicants seek share of growing Chinese bunker market
At least three companies have applied to China's State Council for permission to sell bunker fuels at the country's ports.
In Full
31 Jan Bominflot expands Mediterranean services
Bominflot Group adds another 'bunker only' location to its portfolio.
In Full
31 Jan Lack of cargo confirmation leaves Suez players high and very dry
Bunker suppliers in Suez are hopeful of resupply after prolonged product shortage.
In Full
31 Jan Oil continues to slip after Iraqi election
Oil slips further after confirmation of no OPEC quota change and Iraqi election passing without disruption to oil flow, giving bearish short-term outlook.
In Full
31 Jan Singapore breaks previous bunker sales record by 13.3%
December bunker sales at all-time high tops off new record-breaking year for Singapore's maritime industry.
In Full
28 Jan Oil slumps on renewed OPEC assurances for status quo
Bunker fuel prices fail to react immediately to the drop, with no major price movements in the key ports.
In Full
28 Jan New K-Sea barges ready for operation before April
Newly-acquired bunker barges ready for operation in the Spring, says company.
In Full
28 Jan Leading 'green' line calls for wider low-sulphur supply
Car-carrier company Wallenius Wilhelmsen reveals higher cost of low-sulphur fuel purchases and points out lack of supply to pursue its green shipping policy globally.
In Full
28 Jan Extra fuel protection proves popular
Lintec Testing Services claims 'massive response' from shipowners since it launched new service to screen bunkers for chemical contamination not detected by standard testing methods.
In Full
28 Jan Singapore trader's replacement announced
28 Jan Bunker alert issued for high density fuels
DNV Petroleum Services (DNVPS) issued a bunker alert today after having received several samples from Venice with density exceeding the ISO 8217: 1996 specification.
In Full
28 Jan OPEC President: We won't cut oil production
"We are very keen about the stability of the prices in the market," says Sheikh Ahmad Fahd al-Sabah.
In Full
27 Jan PRAXIS: Daily bunker market report (Thursday)
27 Jan New-generation bunker barge on the move
Total Belgium has taken a new-generation 'mega' bunker barge on time charter from Wiljo.
In Full
27 Jan Tokyo players wait on February allocations
Traders hope fuel oil premiums compared to other ports in the region will drop to encourage more business.
In Full
27 Jan Singapore supply outlook improving
Growing fuel oil stocks and further cargo arrivals set to ease tight bunker market and reduce bunker premiums.
In Full
27 Jan High-sodium cargo returned from Japanese trading house
Japanese trading house named as the buyer from which oil major ExxonMobil has agreed to take back a high-sodium fuel oil cargo, while other buyers sourced problem fuel directly from refinery.
In Full
27 Jan Singapore: Trader leaves
26 Jan Two berths in Salalah reopened after bunker spill
Maersk boxship allowed to leave port after refuelling accident.
In Full
26 Jan PRAXIS: Daily bunker market report (Wednesday)
26 Jan Chinese fuel oil imports reach nine-month high
Inventories boosted to highest levels in several months amid declining domestic demand, say sources.
In Full
26 Jan Big US product draw, opposing crude figures
DOE and API opposed on crude stocks, but both report significant draws in key product stocks.
In Full
26 Jan MPA hits back at reports of inaction in sodium case
The Maritime and Port Authority of Singapore clarifies the authority's role in dealing with the recent problem of high-sodium bunker fuel in the island state.
In Full
26 Jan Barge fees rise in Suriname
26 Jan Reports: Oil major agrees return of high-sodium cargo
One of several high-sodium fuel oil cargoes brought into Singapore from a refinery in Yanbu has reportedly been taken back as market struggles to recover from shortage of suitable bunker material.
In Full
26 Jan Saudi posted prices up across the board
26 Jan Oil close to $50 after US refinery snag
Oil market tracks rising gasoline levels up as US major refinery slows its fuel production; bunker prices fail to react today.
In Full
25 Jan New Panama storage terminal attracting attention
Terminal operator Petroport tells Bunkerworld that its 700,000 barrel facility in Cristobal could be supplemented by future projects in Panama.
In Full
25 Jan PRAXIS: Daily bunker market report (Tuesday)
25 Jan Martek near launch of marine emission control system
Martek Marine set to launch on-board emission control equipment that should facilitate Marpol Annex VI compliance on NOx and deliver fuel savings. The system can also be configured to measure SOx emissions.
In Full
25 Jan Hong Kong's earliest dates pushed into February
Strong demand puts strain on limited product stocks and barges.
In Full
25 Jan PRAXIS: Weekly bunker market report (Monday)
25 Jan EMSA offers cash for capacity to barge operators
The EU's European Maritime Safety Agency (EMSA) has called on bunker barge operators, among others, to enlist a fleet of emergency spill response vessels in four regions.
In Full
25 Jan Singapore to accede to liability limitation convention
The MPA has said that Singapore will accede to the International Convention on Limitation of Liability for Maritime Claims (LLMC), 1976.
In Full
25 Jan Fujairah: ADNOC withdrawal could be only temporary
Sources at ADNOC have said the company will be out of the Fujairah market until the company is able to fully commit to its bunker operations.
In Full
25 Jan Crude, bunkers hit long-term highs amid report of OPEC cut
Reports of OPEC output cut of 800,000 bpd and cold snap in US Northeast send oil and bunker prices to long-term highs.
In Full
24 Jan Bunker spill disrupts operations in Salalah
Fuel tank overflow triggers immediate clean-up operation in Omani port.
In Full
24 Jan ARA market softens as crude slips back
24 Jan Suez avails unlikely to improve until early February
No show of resupply pushes Canal's earliest bunkering dates into next month
In Full
24 Jan US cold, China, Iraq and OPEC keep oil on the boil
Crude prices continue firm after Friday's rally as snowstorms hit the US Northeast, while upcoming OPEC meeting and Iraqi elections keep traders on their toes.
In Full
24 Jan Aviation looks to shipping's strategy for price protection
World Fuels chief risk officer says the aviation industry is increasingly looking at the shipping industry's widely-used strategy of hedging against rising fuel prices.
In Full
24 Jan Bominflot to open new Scandinavian office
Representation Office is the first for the Bominflot Group in this region.
In Full
24 Jan Tsakos Shipping pays double for Delaware spill clean-up
Tsakos Shipping and Trading has paid almost double the fee required by US law for damages relating to oil spills.
In Full
24 Jan Japanese traders eye Korean demand in wake of alerts
Japanese traders have said they expect increased demand in Japanese ports following the issue of a bunker alert in Busan last week.
In Full
22 Jan Scubber manufacturer dropped from BP / P&O sea trials
BP Marine looks for new partner, claiming trials of Canadian manufacturer's abatement technology scrubber, EcoSilencer, have not achieved goals in 18 months of testing.
In Full
21 Jan WFS success prompts '2 for 1' stock split
Stock split provides opportunity to broaden base of investors and improve the liquidity of stock, says WFS Chairman.
In Full
21 Jan PRAXIS: Daily bunker market report (Friday)
21 Jan Draft recommendations propose even tighter sulphur limits
Vice chair of environmental committee proposes reinstatement of 0.5% sulphur limit in Europe's directive on marine fuels.
In Full
21 Jan Rotterdam steady ahead of Midday
21 Jan Wallenius Wilhelmsen signs two large low sulphur term contracts
Wallenius Wilhelmsen has signed two low sulphur term contracts, one of which runs until December 2007.
In Full
21 Jan Singapore: MPA confirms three debunkering applications
The Maritime and Port Authority of Singapore (MPA) has confirmed three applications for debunkering relating to high sodium content.
In Full
21 Jan DNVPS: High aluminum and silicon found in South Korean fuel
Testing agency issues 'bunker alert' after batch of bunker fuel exceeds aluminum and silicon levels stipulated under ISO8217.
In Full
20 Jan PRAXIS: Daily bunker market report (Thursday)
20 Jan Piraeus IFO avails rapidly recovering from New Year shortage
Suppliers in Piraeus say avails are improving every day following recent supply issues.
In Full
20 Jan Italian Bunker avails improving on supplier by supplier basis
20 Jan Lion republic shows build in residual fuel inventories
Onshore stocks of residual fuels in Singapore showed a build ths week after last week's large draw.
In Full
20 Jan BP Marine re-starts Cyprus operations one month early
BP Marine is set to re-launch its bunker operations in Cyprus tomorrow, one month ahead of schedule.
In Full
20 Jan US gasoline stocks on track for next driving season
The US Department of Energy says healthy builds in gasoline inventories may prevent a repeat of price spikes seen in 2003 and 2004.
In Full
20 Jan Oil prices ease after US oil inventory gain
Oil prices ease after unexpectedly big crude oil inventory build in the US, but analysts warn that cold snap plus concerns about supply from OPEC and Iraq could prove supportive.
In Full
20 Jan Volgotanker wins reprieve from Court of Arbitration
Russian tanker and barge operator Volgotanker says that the company has won a reprieve, after appealing against allegations from the state that the company owed $23 million in back taxes.
In Full
20 Jan Rotterdam market soft after crude plunge
20 Jan DOE and API at a glance: This week's US inventory figures
20 Jan Chemoil signs low sulphur term contract with Maersk
San Francisco based global bunker supplier Chemoil has signed a contract with Maersk to supply what is so far believed to be the largest ever low sulphur bunker contract.
In Full
19 Jan Houston: Demand slumps after busy holiday activity
19 Jan Suppliers forced onto sidelines in competitive Panama
Prices for key product IFO380 comparable with US Gulf Coast prices, say players.
In Full
19 Jan PRAXIS: Daily bunker market report (Wednesday)
19 Jan Simple economics helps and hinders South Korean bunker market
While better bunker prices in South Korea tempt ship owners away from Japan, Chinese fuel oil demand is a more tempting outlet for Korean refineries than the bunker market.
In Full
19 Jan Volgotanker seizures could hurt Russian exports
Russian tanker and barge operator Volgotanker has warned that the seizure of some of its assets by authorities after allegations of tax evasion could affect the country's exports.
In Full
19 Jan ARA market on even keel this morning
19 Jan Yanbu / Singapore: New shipments on-spec for sodium
Latest fuel oil shipments from Yanbu to Singapore have been tested and found to contain less than 100 ppm sodium.
In Full
19 Jan US Justice Department sues Massachusetts over spill bill
The state of Massachusetts was being sued yesterday by the US Justice Department for adopting state oil spill laws which are in contravention with federal regulations.
In Full
19 Jan Intertanko: Emissions trading, abatement unsuitable for tankers
In an interview for February's edition of Bunkerworld's quarterly magazine, Intertanko explains that emissions capping alternatives are largely unsuitable for the tanker spot market.
In Full
18 Jan DNVPS: 'Off-spec' fuel not aligned to port or supplier
DNV Petroleum Services 2004 review shows that 'off-spec' or poor quality fuel can occur in any port and involve any supplier; highlights polymeric in bunker fuel has become more prominent.
In Full
18 Jan Fujairah bunker market not ready for single-hull ban
Fujairah bunker market could see exodus of suppliers if government enforces early ban on using single-hull tankers for fuel oil storage; potentially threatening its prominent bunkering hub-status.
In Full
18 Jan PRAXIS: Daily bunker market report (Tuesday)
18 Jan Competitive numbers boost Hong Kong demand
Suppliers in Hong Kong enjoy healthy demand amid favourable regional price level, while Taiwanese prices show little movement so far this week.
In Full
18 Jan Saudi posted price update
18 Jan Domestic requirements leave Kuwait tight until February
Smaller parcels still offered in Kuwait, but market remains tight until month-end.
In Full
18 Jan Rotterdam market surges with crude
18 Jan Yanbu cargoes likely source of de-bunkered fuel
Players say source of de-bunkered fuel is almost certainly from a batch of high-sodium cargoes.
In Full
18 Jan Crude oil futures surge in after hours trading
Crude oil futures surge in after hours trading on US heating oil worries and Middle East supply concerns.
In Full
18 Jan Singapore suppliers confident of meeting shipping's demands
Bunker suppliers told Bunkerworld today that they were optimistic of meeting demand for fuel through January, despite depleted supplies of IFO380 due to high sodium supplies in the Republic.
In Full
18 Jan Dwindling 'on-spec' IFO380 stocks see suppliers inactive
Independent supplier Global Energy reportedly focusing on meeting contract requirements as ex-wharf players also suspend deliveries.
In Full
17 Jan Malaysia: Bunkering facilities to help fuel economic growth
Malaysia's southern state of Johor is looking at bunkering services as part of a plan to develop economic growth in the state through 'mega projects'.
In Full
17 Jan Gibraltar distillates back on line amid rising demand
Most players report reasonable avails in busy market.
In Full
17 Jan Rotterdam steady at midday
17 Jan Algeciras: Port authority opens tenders for bunkering centre
The port authority of Algeciras has offered to provide up to six hectares of land for a designated bunkering centre at the port.
In Full
17 Jan Singapore: MPA awards accreditation to six more suppliers
The Maritime and Port Authority of Singapore (MPA) has issued a second round of accreditation certificates as the republic's bunker industry steps up to the stringent requirements of its accreditation scheme.
In Full
17 Jan PRAXIS: Daily bunker market report (Friday)
14 Jan World Fuel Services appoints new chief financial officer
Robert Tocci, formerly President and CEO of the company's marine division, set to replace Frank Shea in WFS board reshuffle.
In Full
14 Jan Istanbul: Fog affecting bunkers, pushing freight rates higher
Bunker suppliers in the Istanbul bunker market today said that fog was badly affecting logistics due to Straits closures.
In Full
14 Jan Focus switches to Yanbu refinery in Singapore sodium case
Traders in the Singapore market are said to be filing claims against the operators of the SAMREF refinery in Yanbu after a series of off-spec cargoes entered the market.
In Full
14 Jan Rotterdam continues firm with crude
14 Jan Iraqi-Malaysian bunker venture awaiting government approval
The 50-50 joint bunker venture between Iraqi and Malaysian partners is ready to go ahead as soon as the oil ministry grants approval. The venture is just the first phase a larger expansion plan.
In Full
14 Jan PRAXIS: Daily bunker market report (Thursday)
14 Jan Fujairah container operations, bunkering boosted by new deal
World's third largest bunkering centre looking to expand on previous successes with Dubai Ports International container deal.
In Full
13 Jan Suppliers: More action from MPA on sodium required
Reports claimed today that some suppliers were urging the MPA to take a more pro-active stance to assist the market deal with 'off-spec' bunker fuel influx.
In Full
13 Jan Singapore: Fuel oil inventories fall 1.5 million barrels
Data released by International Enterprise shows significant fall in fuel oil inventories.
In Full
13 Jan Tighter regulations prompt ADNOC withdrawal from Fujairah
Abu Dhabi National Oil Co (ADNOC) confirmed today that the company has pulled out of the Fujairah bunker market.
In Full
13 Jan Rotterdam steady to firm at midday
13 Jan DOE and API at a glance: This week's US inventory figures
13 Jan Four partners named as ENOC reveals terminal plans
ENOC reveals more details of its planned terminal project in Singapore, including naming four investors in the terminalling joint venture.
In Full
12 Jan Shell Marine Products expands operations in US Gulf
SMP announce new operation offering intermediate fuel oil and marine gasoil in US Gulf port of Mobile - as major continues its focus on core regions.
In Full
12 Jan Red Sea gas oil makes sharp upward correction
12 Jan Stalled cargo loadings and bad weather disrupt Fujairah supply
Sources in Fujairah have said that delays to cargo arrivals and bad weather are placing extra pressure on an already tight market.
In Full
12 Jan PRAXIS: Daily bunker market report (Wednesday)
12 Jan Total Marine Fuels resumes operations in Dakar
Total Marine Fuels resumes operations in Dakar, Senegal after an absence of approximately two years.
In Full
12 Jan PRAXIS: Daily bunker market report (Tuesday)
12 Jan Rotterdam market firm
12 Jan Singapore: MPA keeping close watch on cargo arrivals
The Maritime and Port authority of Singapore has said it is keeping a close watch on recent fuel oil arrivals after high sodium levels were found in some fuels.
In Full
12 Jan Titan in final talks over China's biggest storage facility
Titan in final talks with state run oil giants to build China's biggest fuel storage facility at a cost of two to three billion yuan.
In Full
12 Jan Freight rates up, dollar down, predicts shipping consultant
The shipping accountant and consultant Moore Stephens foresees more of the same for buoyant shipping sector in 2005.
In Full
12 Jan Italian tanker owner fined for dumping bunker fuel
Court rules against owner, despite claims that Mediterranean spill was vegetable oil and not bunker fuel.
In Full
11 Jan Suez fuel oil supply could return by end of the month
Sources in the Egyptian market are hoping to see fuel oil supply return at the end of January.
In Full
11 Jan BP Chief: Good oil supply will keep prices in check
BP Chief Lord Browne says high oil prices over the last year were a coincidence and there is no shortage of supply with surplus capacity still growing.
In Full
11 Jan Rotterdam stable ahead of Midday
11 Jan ENOC confirms new partners in Horizon terminal project
ENOC confirms new partners take over from China Aviation Oil for its Horizon Terminals project on Singapore's Jurong Island, inauguration to take place this week.
In Full
11 Jan Chemoil refutes STUSCO claims in TAN case
San Francisco-based international bunker supplier contests STUSCO claims that its law suit is 'unfounded' and says it is confident of success in its ongoing trial with Shell trading arm.
In Full
10 Jan Indian oil companies eyeing lucrative bunker market
Lower taxation and improved infrastructure the key to encouraging foreign investment and challenging well-established bunker ports Fujairah and Singapore.
In Full
10 Jan Bunkering halted as Baltic region takes a battering
As storms worsen, bunkering in some ports has been restricted by high winds.
In Full
10 Jan Rotterdam firm early afternoon
10 Jan Bunker player coughs up $2 million for CAO debt
Hong Kong based supplier and trader pays $2 million to bank for debt owed to China Aviation Oil.
In Full
10 Jan Owners fined after refueling incident leads to spill
Owners fined for a refueling incident which lead to a spill of fuel oil on the Columbia River.
In Full
10 Jan Sovereign Marine strikes alliance with Hong Kong partner
Sovereign Marine to act as European agent for Hong-Kong based trader.
In Full
07 Jan Vancouver exploring ways to reduce ship emissions
The Vancouver Port Authority (VPA), along with other local authorities in the western Canadian port, is researching means to reduce ship emissions.
In Full
07 Jan DNVPS reports more high sodium samples in Singapore
Testing agency reports on additional fuel samples with unusually high sodium content, while separate sources say around 1.5m mt low-sodium fuels will be required to blend down recent high-sodium cargoes.
In Full
07 Jan PRAXIS: Daily bunker market report
07 Jan Japan bunker sales up in November
07 Jan Crude prices retreating after speculator-driven rally
Crude oil prices were retreating in after hours trading today after yesterday saw huge gains driven largely by fund buying.
In Full
07 Jan Export patterns and over-commitment leave South Korea tight
South Korea reported very tight until at least end of next week on cargo exports and over-commitments in the bunker market.
In Full
06 Jan NYK to fit double-skinned fuel tanks in newbuilds
Company says provision for over two metre gap between shell and fuel tanks will reduce risk of spills as another $320m VLCC order is unveiled.
In Full
06 Jan FBI launch criminal probe into Alaska bunker spill
Reports say criminal investigation will be assisted by US Coast Guard and EPA officers as news of first successful removal of bunker fuel from stern fuel tanks emerge.
In Full
06 Jan Singapore-Japan price spread touches $80 on tight supply
Shipowners avoid bunkering in Japan as IFO380 premium soars, with little relief on tight supply expected until later this month.
In Full
06 Jan Antwerp prices slump, fuel oil glut could last a month
Rotterdam losing business to Antwerp as a huge glut of fuel oil pushes prices in the Belgian port below the Rotterdam market.
In Full
06 Jan Hong Kong resupply on target
06 Jan Singapore-China freight rates down, expected to stabilise
Freight rates for tankers carrying fuel oil from Singapore to southern China have dropped significantly, but traders say the market should stabilise.
In Full
06 Jan DNVPS: Off-the-scale density is serious
Per Holmvang, Managing Director of DNVPS, explains why fuel density above the maximum stipulated in ISO 8217 is a serious problem even when only slightly off spec.
In Full
06 Jan Rotterdam soft ahead of Midday, barging tight
06 Jan No pollution reported after barge runs aground
06 Jan Singapore: High stock levels quash fears over off-spec cargoes
Bunker players in Singapore say there is plenty of on-spec material in the market and claims that off-spec cargoes would cause tightness were unfounded, especially when only recently fears were of a fuel oil glut.
In Full
05 Jan Fog plays havoc to deliveries as grain season begins
New Orleans' bunker suppliers committed until 'at least January 10' as forecasters predict more fog to come.
In Full
05 Jan Rivals profit as utility demand hits Red Sea avails
05 Jan Crude falls after US distillate inventory build
Crude prices drop sharply after weekly reports show unexpectedly large build in distillates, despite draw in crude.
In Full
05 Jan PRAXIS: Daily bunker market report (Wedneday)
05 Jan DOE/API: Sharp draw in crude, product stocks rise
05 Jan BP Marine announces staff changes
05 Jan Addax to resume off-Abidjan operations in two weeks
Swiss-based Addax Bunkering Services is to re-start its physical operations offshore Abidjan, Ivory Coast after a long absence.
In Full
05 Jan Portland Bunkers close to commissioning new terminal
Portland Bunkers International tells Bunkerworld that the company hopes to commission its bunker terminal in Portland at the end of the month.
In Full
05 Jan Bunkers International welcomes new trader
05 Jan Rotterdam firm in line with higher crude
05 Jan Rotterdam: 2004 bunker sales valued at $2.5 billion
Fuel oil sales in Rotterdam rose 13% in 2004 with the value of last year's bunker jobs pegged at $2.5 billion.
In Full
05 Jan Saudi posted prices: Gas oil plummets in Red Sea ports
04 Jan IBIA to hold 2nd annual conference in Hong Kong
04 Jan Oil prices rise on renewed Iraqi violence and Saudi vow
After bunker price falls in Asia and Europe, prices in US' ports firm as news of crude's turnaround filters through market.
In Full
04 Jan One quarter of Singapore 380cst January volume 'off-spec'
Sources confirm that around 300,000 mt of 'off-spec' fuel oil imported from the Red Sea for use in the bunker market has already been unloaded in the Republic, with more on its way.
In Full
04 Jan PRAXIS: Daily bunker market report (Tuesday)
04 Jan O.W. expands Baltic service with Polish operations
O.W. Bunker says it can now offer all grades of intermediate fuel oil and distillates in Polish ports.
In Full
04 Jan Exxon exits Portuguese market in Galpenergia takeover
Galpenergia signs contract to take over marine supply stations from Esso Portuguesa SA.
In Full
04 Jan Brent crude plunges early in post-holiday catch-up
Brent crude sheds over $1.50 in early trade as the contract plays catch-up to losses made on the Nymex yesterday, US light crude continues to fall.
In Full
04 Jan Activity resumes in ARA trade market
04 Jan PRAXIS: Daily bunker market report (Monday)
03 Jan EU emissions trading scheme begins
Shipping industry likely to keep a keen interest on the launch of the world's first emissions trading scheme - as EU looks to meet Kyoto guidelines on carbon dioxide.
In Full
03 Jan Reports of tsunami vessel casualties emerge
03 Jan Island state 180cst sales could rise on tsunami relief effort
As US, British, Australian and other navies join the aid effort in southern Asia, 180cst sales look set to rise, say traders.
In Full
03 Jan Singapore 500cst sales show healthy growth
Port statistics reveal growth in sales of 'other' fuel oil grades as more players prepare to enter high-viscosity bunker market.
In Full
03 Jan ARA market in the doldrums as new year begins
Rotterdam trade market inactive due to lack of price direction from Brent crude, while Asian markets slip on weakening US crude futures after a slow start to 2005.
In Full
03 Jan Bominflot appoints new Risk-Supply Manager