29 Jul Titan buys VLCC for $89 million
Hong Kong's Titan Petrochemicals Group Ltd has paid $89 million in cash for a double-hulled very large crude carrier (VLCC) in its latest acquisition.
In Full 27 Jul Singapore: SPC profits surge 291% in Q2, 2005
Singapore Petroleum Company (SPC) experienced a surge in turnover and profits in the second quarter (and first half) of this year, buoyed by high oil prices, strong refining margins and robust demand for oil products.
In Full 22 Jul China softens rule on single-hull ban
Chinese port authorities are starting to ease the rule implemented on April 5 this year banning single-hulled tankers of more than 20-years-old from entering China's ports.
In Full 20 Jul Global drop in pirate attacks, IMB reports
Pirate attacks globally have dropped 30% in the first six months of 2005 compared to the same period last year, but key hotspots like Indonesian and Somalian waters are still a major concern, IMB reports.
In Full 19 Jul Pricing system under fire again after Singapore incident
The pricing methodology of Platts, with benchmark oil and oil product assessments based on a short and frantic MOC trading window, has come in the firing line in Singapore after a reported dispute between Platts and the oil trading division of Noble Group.
In Full 15 Jul MEPC to adopt amendments to regulations on air pollution
The Marine Environment Protection Committee (MEPC) of the IMO will meet for its 53rd session between July 18-22. Among other issues, the MEPC is expected to adopt amendments to the regulations on air pollution to establish a new special emissions control area for the North Sea.
In Full 15 Jul Shell refinery shutdown adds to ARA supply worries
Already plagued by persistent loading delays at Rotterdam's main fuel oil terminal, some suppliers in the ARA bunker market saw the Pernis refinery shutdown as a further blow, while bitumen season reduces fuel oil flow from regional refineries.
In Full 15 Jul US: $1 million fine for dumping offence
The owner and operator of the Fair Voyager, charged with illegally dumping oily waste into international waters outside New York Harbour last year, have been ordered to pay a $1 million fine.
In Full 15 Jul Shell brand retained despite marine business divestment
Royal Dutch/Shell Group of Companies announced today that it had signed Sale and Purchase Agreements relating to the divestment of the majority of Shell’s Oil Products businesses in the Republic of Ireland and Northern Ireland, including its marine businesses.
In Full 14 Jul Cockett Marine Oil sells 50% stake in company
United Kingdom (UK) based Cockett Marine Oil, marketer of marine fuels and lubricants announced today that the company has reached an agreement with South African Grindrod, whereby Grindrod purchases a 50% share in Cockett with effect from July 2005.
In Full 13 Jul Oil market mulls bearish reports, storm fears
The mood in the oil market was described as a tug-of-war today as traders mulled bearish reports from the International Energy Agency (IEA) and weekly US oil statistics, while keeping a watchful eye on the fifth storm of the Atlantic hurricane season.
In Full 12 Jul EU sets penalties for pollution as legislation is adopted
The European Union (EU) today adopted new measures against ships that pollute EU waters, setting penalties to be imposed on anyone who has been found to have caused or contributed to illegal pollution intentionally or by means of serious negligence.
In Full 12 Jul Crude rebounds strongly as new tropical storm brews
After three straight days of significant losses in crude oil prices, a sharp rebound occurred today amid anticipation that Hurricane Dennis may have dented US oil inventories, and the season's fifth tropical storm was brewing in the Atlantic.
In Full 12 Jul Novorossiysk to expand oil export capacity
The Russian Black Sea port of Novorossiysk is planning major investments to boost its loading capacity for crude oil and oil products in a bid to maintain its position as Russia's largest oil port.
In Full 11 Jul Marine fuels contamination sometimes deliberate
In his 20 years with DNVPS, Managing Director Per Holmvang says he thinks there have been examples of deliberate contamination of bunker fuels, and he shares some thoughts on how contaminants may - accidentally or otherwise - end up in marine fuels.
In Full 08 Jul Gulf Navigation Group sells 10% stake
Gulf Navigation Group (GNG), a Dubai-based company involved in a number of marine related services including management, supplies, bunkering and agency work has sold a 10% stake in the company.
In Full 08 Jul TransMontaigne expands with Radcliff acquisition
TransMontaigne Inc. has signed a purchase agreement to acquire Radcliff/Economy Marine Services, Inc. in a deal which will see the company's terminal capacity increase and expand it into the lube oil marketing arena.
In Full 04 Jul Marine Lubes supply unaffected by plant blaze
Firefighters in Pakistan spent seven hours extinguishing a blaze which erupted at Pakistan State Oil (PSO)'s lubricant manufacturing plant near National Oil Refinery in Korangi Industrial Area on Saturday night.
In Full 04 Jul Singapore: Transponders for bunker tankers
To enhance the security of Singapore's port waters, the MPA will soon require all licensed harbour and pleasure craft to carry transponders that would enable MPA and the security agencies to identify and track their movements, including bunker tankers licensed as harbour craft.
In Full 01 Jul Yukos rumblings continue as Russia requests deal freeze
Russia's justice ministry has requested that Lithuania and the Netherlands freeze any deals involving Yukos-controlled shares in the Baltic state's Mazeikiu Nafta refinery, a major source of product for its Rotterdam bunkering subsidiary Petroval Bunker Services B.V.
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