News Archive Jan 2007

31 Jan Houston turns bullish
Fundamentals firming and demand falling as avails tighten.
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31 Jan $1.25 million fine for oil pollution
Ship operators in court for allowing deliberate,illegal discharge of oily waste.
In Full
31 Jan Call for global standards
National and regional regulations mean "market distortions and administrative confusion".
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31 Jan Independent supplier expands in Egypt
Macoil adds Port Said to its physical supply operations and turns its attention to Suez.
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31 Jan Bunker shortfall predicted for February
Supply crisis continues as Japanese prices soar.
In Full
31 Jan Low demand keeps lid on ARA price gains
31 Jan Bunker fuel siphoning to start
A salvage permit will be issued by the local coast guard this week.
In Full
31 Jan Chinese firm builds bunker tanker
CNOOC in deal with a Singapore-listed firm to build vessels, including a bunker tanker.
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31 Jan Oil climbs on possible Saudi output cuts
Crude price surges nearly $3 in New York on Tuesday.
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30 Jan Cruise line agrees to emissions controls
Second company agreeing to measures to improve port air quality.
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30 Jan Emissions hearings underway in Houston
Public expressing concern with pollution levels as marine fuel controls mooted.
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30 Jan Bunker spill cleanup begins in Algeciras
Greenpeace challenges government's assessment and spill response.
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30 Jan MGO supply service launched in UAE
Norwegian company to market MGO around UAE ports and offshore locations.
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30 Jan ARA market still firming
30 Jan IPO not enough to fund Chemoil's ambitions
Debts of some $200 million likely to fund infrastructure projects to expand in Asia, Middle East.
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30 Jan Bunkerworld to move
30 Jan Views mixed on returns of S-Oil takeover
Analysts are divided over the pros and cons of the take-over bid by Korean Air and Hanjin Shipping over S-Oil.
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30 Jan Pirates move from 'thievery to hostage taking'
Pirates in the Malacca Strait increasingly target product tankers of less than 20,000 gt, a research paper shows.
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30 Jan Singapore barge loading schedules pushed back
Ex-wharf loadings tight but bunker demand healthy.
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29 Jan Valero: Bunker sales up, plans expansion
Final quarter and 2006 figures released with terminal projects boosting storage capacity.
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29 Jan Product glut plays havoc with ARA market
LSFO February barge swaps at record discount to HSFO as export plans and strong contango belies prompt glut.
In Full
29 Jan Chemoil buys VLCC for storage
Chemoil chief says VLCC suits strategy of acquiring strategic assets, boosting competitiveness.
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29 Jan Napoli oil suspected in France
No new leaks reported as dangerous salvage operation gets underway.
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29 Jan Storms claim another casualty
Fuel leaks from a reefer blown aground near Gibraltar, bunkering resuming after stormy weekend.
In Full
29 Jan ARA market remains firm
29 Jan Hong Kong bunker market faces 'serious shortage'
MGO and 180 cst products tight while competitive 380 cst prices draw higher enquiry volumes.
In Full
29 Jan Titan open to 'various alternatives' for storage in Singapore
Titan also looking to lease up to 75% of its Nansha storage capacity to fuel oil traders.
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26 Jan Port emissions on Houston agenda
Conference bringing together experts and port regulators to cover environmental and other issues.
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26 Jan Japanese prices stay sky-high
No sure end in sight to fuel oil shortages in Japan’s bunker market
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26 Jan Rotterdam market firm
26 Jan Another global player moves into Shanghai
New office will focus on building relationships with Chinese owners.
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26 Jan Lawyer says ship arrests on the rise
Bunkers arrested and released in Belgium, re-arrested in Dutch waters.
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26 Jan Titan to move new double-hulls to Singapore
Ten new double-hulled bunker tankers to be deployed in Singapore and the East Asian region.
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25 Jan BP leads charge for high-viscosity fuels
Supplier providing update on 500cst plans in Singapore and Hong Kong.
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25 Jan Fujairah futures contract 'is workable'
Activity on DGCX bunker contract fell away at year end, but market interest is increasing.
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25 Jan Stock build fails to depress fuel oil market
Crude and fundamentals boost Singapore fuel oil values.
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25 Jan Castrol Marine calls for unified sulphur legislation
Question marks on sulphur caps and SECA locations, Castrol Technical Manager warning.
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25 Jan Government committee wants privatisation deal 'annulled'
Sale of Sri Lankan state-owned bunker supplier was flawed, parliament to be told.
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25 Jan Quiet start for Rotterdam market
25 Jan Fundamentals to shift in Korean market
Power utilities prepare to cut fuel oil consumption.
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25 Jan Demand for dual-fuel engines growing
Wärtsilä in joint venture with world's largest shipbuilder.
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24 Jan Supplier expands capacity in Ecuador
Vepamil launching new tanker and assigning more coverage to key bunkering ports.
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24 Jan Maersk shifts Pacific priorities
Shipowner to use fewer ships and boost capacity as fuel costs rise.
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24 Jan DOE report shows product builds
Cold snap not enough to dent healthy oil inventory levels.
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24 Jan Mediterranean bunker supplier takes delivery of two tankers
Expansion comes as Maltese market continues to grow.
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24 Jan SPC profits down despite record turnover
Weak refining margins hits Singapore company's results.
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24 Jan Bunker fuel still leaking from beached ship
UK heritage group 'extremely concerned' by the environmental damage.
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24 Jan Rotterdam market stable
24 Jan Indian port shows competitive edge
Mundra prices now on Bunkerworld, comparing favourably to major ports.
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23 Jan Royal Caribbean drops bunkering call
Port snubbed as cruise line revising schedule despite plans to the contrary.
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23 Jan Evergreen shows off in California
Parade of 'green' newbuilds continuing with appearance in LA.
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23 Jan New MD for Bomin Bunker
Management changes at Singapore branch of Bominflot Group.
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23 Jan Reports: Wrist Group on cusp of sale
After 3 years on the market, O.W. Bunker parent company may be close to sale.
In Full
23 Jan Tanks intact on beached vessel
Oil leak from MSC Napoli has been limited so far but fears persist for further damage.
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23 Jan Gloomy outlook for S Korean shippers
While some are upbeat, shipowners predicting weaker freight rates and high fuel costs will continue in 2007.
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23 Jan Rotterdam market firm Tuesday morning
23 Jan Matson lowers bunker surcharge
Falling bunker prices lead to 1.25% downward adjustment of surcharge.
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23 Jan Pirate attacks fall in Malacca Strait
Improved security in the Malacca Strait has resulted in less piracy attacks in 2006.
In Full
22 Jan Houston prices plunge again
Bunker numbers weakening and buyers grabbing the deals.
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22 Jan Princess Cruises expands into LA
Cruise operator announcing new cold ironing plans from 2008.
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22 Jan Romanian barge rates rise
Barge rates have gone up for both MGO and IFO deliveries.
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22 Jan 'Surprise and disappointment' over low take-up of fuel standard
Some players still ignorant of revised International Standard for bunkers.
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22 Jan Major player extends its option on storage space
Chemoil moves the deadline in negotiations over Singapore terminal.
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22 Jan IFO to be pumped off grounded vessel
Salvors face difficult operation because of the angle of the ship and because the fuel oil has to be heated.
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22 Jan Rotterdam market firms Monday morning
22 Jan Fuel shortages persist in Tokyo Bay
Differentials between Tokyo and Singapore widening to almost $100 pmt.
In Full
19 Jan Price shifts keep markets guessing
Crude firming late today, but fuel oil down, and bunkers diverging in many ports.
In Full
19 Jan Bunker spill clean up could take 'months'
Local officials predicting a lengthy timeframe for dealing with tonnes of spilt fuel.
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19 Jan Oil leaking from towed ship
French reports indicate a slick five metres wide and five kilometres long is trailing ship damaged in storms.
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19 Jan Weather halts Black Sea bunker supply
Most Black Sea ports suffering as high winds and swells hamper supply.
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19 Jan Rotterdam market quiet Friday morning
19 Jan Supply shortage hits S Korea
Bunker market under strain from low marine fuel stocks from local refineries.
In Full
19 Jan Oil prices slip further
Warmer-than-average winter in North America and rise in US crude stocks trigger fall in oil prices.
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18 Jan Major grabs bulk of bunker business
Resupply delays allowing one supplier to stem most enquiries as demand steady.
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18 Jan Fuel oil Bulletin Board makes strong start
Argus Media reports 60,000 mt of deals in single one-hour session on Rotterdam barge market.
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18 Jan High winds batter European ports
Antwerp and Rotterdam closed, container ship splits bunker tank as it's blown from moorings.
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18 Jan Bunker brokers could be without a role
Indian state pushing ahead with regulations that will exclude intermediaries between buyer and seller.
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18 Jan Damaging regulation 'about' to be lifted
Supplier says bunker sector is often forgotten when new laws are drafted.
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18 Jan Rotterdam market firming slightly
18 Jan Singapore: Stocks of residual fuels, distillates down
Residual fuel stocks fall by almost 1.2 million barrels from week-ago levels.
In Full
18 Jan Singapore LSFO premiums largely stable
Demand for low-sulphur products has been relatively flat.
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17 Jan Shipowner predicts lower fuel prices
Asian carrier expecting lower costs to offset falling freight rates.
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17 Jan Bunker spill due to severed finger
Series of mishaps leading to ship grounding and fuel spillage.
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17 Jan Fuel still leaking into the sea near Ventspils
Salvors wait for waves to calm before starting de-bunkering operations.
In Full
17 Jan Cruise operators could boost Asian bunker market
Sydney, Singapore, Hong Kong, Shanghai and Yokohama are likely to be industry's hubs.
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17 Jan Prices tumble in Rotterdam
Prices falling in the European fuel oil market, but arbitrage opportunities to Asia still weak.
In Full
17 Jan Rotterdam market continues downward trend
17 Jan Saudi minister rules out emergency OPEC meeting
Supply and demand in the crude oil market is ''healthy'', Saudi minister says.
In Full
17 Jan Singapore loading congestion eases
Bunker players report muted activity in the spot market.
In Full
16 Jan OPEC confusion sees crude fall even further
Possibility of $50 barrels and bunkers following bearish oil.
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16 Jan Cruise ship fuel rules off the agenda
Ports abandoning plans for mandatory restrictions, exploring other schemes.
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16 Jan New appointment at Danish bunker firm
New Business Development Manager "can intensify the strategic work of developing both existing and new business."
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16 Jan More restrictions on marine fuels 'a foregone conclusion'
But senior bunker industry observer saying transition from residual to distillate unlikely until well into the next decade.
In Full
16 Jan Rotterdam market stable
16 Jan Rare Saudi bunker cargo due for Singapore
Bunker-grade cargo from Saudi Aramco sold from its Jubail refinery.
In Full
16 Jan Singapore supplier readies new double-hull tankers
Two more double-hulled bunker tankers to be running in Singapore in "a few days".
In Full
15 Jan No date yet for court case
Shipowner fuel rule lawsuit in play but timetable still to be announced.
In Full
15 Jan Port offers clean fuel incentives
Shipowners will be eligible for reduced dues as part of emissions rewards scheme.
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15 Jan Singapore prices dip as fuel oil supplies ease
But Rotterdam IFO prices still undercut Singapore by around $47 per mt.
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15 Jan High winds hit bunkering in Northwest Europe
Vessels forced to ride out the storms at Skaw as they await low-sulphur bunker fuel.
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15 Jan Rotterdam stable at Midday
15 Jan EU to seek emissions progress within IMO
But “unsatisfactory” MARPOL Annex VI revision could prompt new unilateral measures.
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15 Jan Tokyo grapples with tight supplies
Bunker prices climb with shortages expected to ease next week or early February.
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15 Jan Singapore: Record 380 cst sales in December
Key grade 380 cst selling close to two million mt in December.
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15 Jan Bunker spill hits Norway's coast
Cypriot cargo ship breaks in two, efforts underway to contain fuel spill.
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12 Jan Weather hampering resupply
Suppliers unable to meet prompt requirements after weeks of disruptions.
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12 Jan Improved market encourages barge expansion
Uruguay coming out of difficult trading period.
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12 Jan Costs of Taiwan bunker spill could be settled out of court
Bulker’s P&I club reporting ‘positive dialogue’ with authorities.
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12 Jan Singapore sellers back-off as congestion continues
Some suppliers blame loading delays, but others reports say sellers are waiting for prices to rise.
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12 Jan Cockett opens new office in Cannes
Operation will concentrate on French-speaking markets.
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12 Jan Rotterdam announces record bunker sales
Second bunker hub sees sales climb year-on-year, but Rotterdam fails to match Singapore's growth.
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12 Jan MPA dispatches anti-pollution craft to tackle bunker spill
Oil boom placed around damaged bunker tanker in Singapore's Southern Fairway.
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11 Jan Record low bunker prices refuse to fall further
US markets staying conservative despite oil plummeting to new lows.
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11 Jan National emissions targets likely to exclude shipping
European shipowners welcome signs they are to be excluded from another layer of EU control.
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11 Jan Bunker barges collide in Singapore
Reports speaking of 200 mt bunker spillage, investigation under way.
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11 Jan Uruguay supplier doubles fleet
Company now has two double-hulled bunker tankers in operation.
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11 Jan Fuel oil cargoes begin moving East
Arbitrage window between Rotterdam and Singapore nudged open as markets begin to shift.
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11 Jan Wärtsilä unveils scrubbing project
Leading engine manufacturer aims to make SOx scrubbers for ships that comply with IMO requirements and other regulations.
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11 Jan Captain fined after bunker spill alert
UK court hears mate was asleep on duty.
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11 Jan Bunker supplier launches trading company
Physical supplier wants new company to underpin its supply operations in Northwest Russia.
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11 Jan Quiet trade market continues in Rotterdam
11 Jan New supplier for Kaohsiung 'soon'
Oil pollution emergency plan takes on new urgency after last month's spill.
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10 Jan Brazil bounces back
Major supplier facing better new year and prices on the move.
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10 Jan New bunker barges for West Coast
Construction company and barge operator announcing three more newbuilds.
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10 Jan Oil prices drop further after US data
Large builds in key oil product stocks underpins bearish mood.
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10 Jan Privatisation deal still raising concerns
Valuation of Sri Lanka's main bunker supplier was "grossly inaccurate".
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10 Jan Cutting pollution will come at a price
Ship operators face increased costs, but shipping sector is still enjoying a boom.
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10 Jan Congestion forces barges to wait
Singapore loading terminals under pressure.
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10 Jan Singapore's bunker suppliers break another record
2006 sales top 28.4 million metric tonnes with two record months in the final quarter.
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10 Jan 'Floating ships on air' cuts fuel bills, emissions
New technology can deliver 15% reduction in fuel consumption and CO2 emissions from shipping.
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10 Jan Downward trend continues in Rotterdam market
09 Jan US Gulf bunkers drop to $250
Deals done at record lows for the last few months as prices stay bearish.
In Full
09 Jan California plans further emissions controls
State agency proposing cold ironing regulations for later this year, forming industry workshop.
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09 Jan Regulatory oversight hits Polish bunker market
Polish bunker supplier awaits reversal of HSFO purchasing ban after government imposes 1% sulphur limit on all fuels.
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09 Jan Bunker growth for IMAREX
December results show doubling of bunker transactions since launch last year and even bigger volume growth.
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09 Jan Global Risk Management expands team
Two new employees at one of Denmark's fastest growing companies.
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09 Jan Rotterdam market in downward trend
09 Jan Hong Kong MGO supply recovers
Availability of 380 cst bunker fuel tightens, bunker demand stable.
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09 Jan MPA focuses on suppliers' physical commitments
No minimum bunker sales volume needed for Singapore licenced bunker suppliers, MPA says.
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08 Jan Company touts new cold ironing solution
Mobile system offers ease of use, but port authority looking for proven technology.
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08 Jan Dual-fuel ships gain popularity
Gas and bunker-powered LNG carriers offering lower emissions and greater efficiency.
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08 Jan Trader changes at Bominflot office
Bominflot Group announces new trader in Rotterdam.
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08 Jan New year brings complications
Bulgarian bunker suppliers seriously stuck due to new product contract negotiations and customs issues.
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08 Jan Slowing down not ideal
Consultants say there are better ways of saving fuel than going slower.
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08 Jan Bunker Holding announces new appointment
08 Jan Rotterdam market very quiet
08 Jan OPEC output cuts can limit price slide
More OPEC output cuts necessary this year to avert further drop in oil prices, a research paper says.
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08 Jan Hong Kong gears up for 500 cst sales
Two local suppliers soon to debut newbuild barges with cargo heating devices.
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05 Jan Bunker prices fall further
US numbers heading even lower, but may have reached a plateau for now.
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05 Jan California ship survey questions distillate use
Agency seeking feedback on survey development for ship main engine fuel policies.
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05 Jan Small step forward for alternative fuel engines
Developer says marine engine market is "wide open" for alternative fuel technologies.
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05 Jan Chinese whispers
Singapore fuel oil traders look to bunker market as China bypasses Asian trading hub.
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05 Jan China warned over Mekong oil spill threat
China's insatiable appetite for economic growth an oil spill time bomb, claim environmentalists.
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05 Jan Rotterdam market very quiet
05 Jan Vessel finally refloated
Pollution threat over after removal of bunker oils and cargo.
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05 Jan Asian fuel oil influx to fall in January
Western arbitrage cargo inflows to decline by about 20% compared to December.
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05 Jan Singapore supplier steps into Europe
Independent bunker supplier Global Energy opens marketing office in Holland.
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04 Jan Houston to regulate distillate fuels
New proposal to apply state emission rules to marine gasoil grades.
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04 Jan Oil prices slip further on US inventory builds
Latest DOE data underpin bearish market mood.
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04 Jan Swift action averts bunker spill threat
Vessel refloated and taken to port within hours of grounding.
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04 Jan Substantial interest as new trading platform goes live
Argus Media's Fuel Oil Bulletin Board for Rotterdam attracts participants from oil companies, big traders and bunker suppliers.
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04 Jan Mild winter hits oil prices
Weather weighs on crude short term but analyst also predicts lower oil price average for 2007.
In Full
04 Jan Rotterdam market very quiet again
04 Jan Singapore distillate stocks at 14-week low
Residual fuel stocks up slightly; bunker market experiencing terminal congestion and high bunker premiums.
In Full
04 Jan Bunker demand slips in S Korea
Product squeeze continues as domestic power plants soak up fuel oil.
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03 Jan New Year bunker prices fall as crude dives
Bearish fundamentals translating into downward adjustments on US bunker markets.
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03 Jan Strategic bunker alliance formed
KPI and Bridge Oil formalise collaboration to offer global trading and broking services.
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03 Jan Asian bunker premiums firm
Fuel oil prices slip but bunker premiums widen in tight spots.
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03 Jan Rotterdam market decreasing
03 Jan Oil threat from stranded ship
Salvage effort underway in Scotland to salvage vessel and its bunkers.
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03 Jan Congestion builds at Singapore bunker terminals
Local players say bunker loadings at oil terminals have been repeatedly delayed.
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03 Jan Hong Kong short of MGO
Replenishment of the bunker product is expected from next week onwards.
In Full
02 Jan California fuel fees documents online
Agency making compliance and safety exemption forms available as new regulations come into effect.
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02 Jan Tight avails hits fishing fleet
Jamaica's fishermen up in arms over fuel shortage.
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02 Jan O.W. boosts Klaipeda operations
New barge increases flexibility as demand grows.
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02 Jan ENOC returns to Dubai
Leading UAE player puts tanker into service at Jebel Ali.
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02 Jan OSK predicts lighter bunker burden
OSK expects lower fuel costs but mixed rates for shipping in 2007.
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02 Jan Quiet New Year start in Rotterdam market
02 Jan Grounded ship sparks oil spill fears
A cargo ship carrying about 40 mt of fuel ran aground Tuesday morning.
In Full
02 Jan Bunker fuel removal preparations underway
An estimated 1,000 mt of bunker fuel remains in the cargo holds of sunken oil tanker.
In Full