News Archive Jul 2007

31 Jul Engine-maker warnings over fuel switching
Experts saying 'precautions have to be taken' for operating on distillate fuel.
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31 Jul Public meeting for new US ship fuel legislation
Senator leading charge for cleaner bunkers in all ports.
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31 Jul Mixed supply outlook in African markets
South African supply improved but not yet dependable, other markets feel effects.
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31 Jul Rotterdam market stable at midday
31 Jul Singapore fuel market looks tight for August
Trader says market is 'balanced' but warns it could be 'the lull before the storm'.
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31 Jul Bunker storage tanks will ease road congestion
UK government backs plans for storage terminal in bid to keep fuel oil transport off the roads.
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31 Jul FOBAS raises quality alert in the US Gulf
Fuel-testing firm warns of contaminated fuel linked to fatty acids.
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31 Jul Hong Kong MGO demand holds steady
Hong Kong MGO suppliers say they were largely unaffected by fishing ban.
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31 Jul Adani reschedules bunker tanker launch
Indian supplier expects to have two new 3,000 dwt bunker tankers this year.
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31 Jul Singapore looks at potential of offshore storage
Detailed feasibility study expected to be completed by end-2008, government agency says.
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30 Jul Little relief for US bunker buyers
30 Jul More concern over oil supply
Non-OPEC production falling as OPEC still ruling out supply increase.
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30 Jul New ships will cut bunker consumption
Next generation of containerships could slash operating costs.
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30 Jul Limited activity in ARA barge market this morning
30 Jul Aegean considering its 'own brand of lubes'
New staff member appointed to oversee the expansion of its marine lubes sector.
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30 Jul New Indian terminal should be running next month
Operation of oil terminal in Mundra delayed from mid-July to August.
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30 Jul DP World to upgrade Fujairah terminal
Project to increase under-utilized container terminal's ability to handle larger ships.
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30 Jul Ships collide off central Japan coast
Fuel oil leak 'has been contained'.
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27 Jul Los Angeles the exception in bullish US markets
Most ports respond to firming fundamentals with crude close to all-time high.
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27 Jul Another fuel surcharge on the Horizon
Second Hawaii shipping company announces August increase saying it sees 'level or higher' fuel costs ahead.
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27 Jul Amended MARPOL regulation about to enter into force
New MARPOL regulation aims to prevent bunker spills from all categories of ships, not just tankers.
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27 Jul Trader gone from FNSA Fuel
27 Jul Strong market encouraging rare cargo deals
UAE fuel oil cargo not expected to travel far.
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27 Jul Swathe of Guimaras oil spill claims rejected
More than 125,000 applications for compensation from last year's Philippines bunker spill turned down on lack of evidence.
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27 Jul Rotterdam market stable at midday
27 Jul NYK returns to Thailand for bunker purchase
Shipping line says it believes there will be no further problems with 'off-spec' fuel.
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27 Jul South Korea shrugs off supply worries
East Asian bunker prices bounce back as crude oil firms.
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26 Jul Cruise line fuel costs up 8%
Royal Caribbean increasing hedging and predicting escalating future prices.
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26 Jul China launches another oil exchange
Dalian Petroleum Exchange opens for fuel oil spot transactions, but traders are skeptical.
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26 Jul Service launched to plug Black Sea supply gaps
New venture formed to offer bunkers offshore on Black Sea shipping routes.
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26 Jul Japanese lines upbeat on profits
Raise full-year profit forecast despite rising fuel cost after solid Q1 performance.
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26 Jul Rotterdam market firm after crude jump
26 Jul Crude jumps on draw in key US stock
Traders focus on stock draw in Cushing, Oklahoma, where benchmark US light crude is priced.
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26 Jul Singapore residual fuel stocks up
Stocks of middle distillates fall in the week to July 25.
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26 Jul Indian bunker project still facing hurdles
Cochin Port Trust had to revise draft documents after guidelines changed.
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26 Jul Singapore demand climbs as prices soften
Buyers fix forward deals 'on expectations prices will rise'.
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25 Jul Houston follows bearish trend, for now
Marine fuel prices heading lower but oil markets already reversing course.
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25 Jul 'Feasible' 0.25% sulphur limit for distillate fuel
Meeting discussing sulphur levels for California marine fuel regulations.
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25 Jul Tight markets benefit SPC
Solid refining margins continue to boost financial results for Singapore firm.
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25 Jul 'Raft of Russian fuel oil' headed for ARA
Rotterdam bunker still market tight, but replenishment expected soon.
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25 Jul Marine fuel drought spreads
Extremely limited supply options going south via Suez Canal as Saudi Red Sea ports dry up.
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25 Jul Fuel oil cargoes heading for Asia
Asian prices have started to tumble as traders warn the market could turn 'bearish' in September.
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25 Jul Getting wise on tug propulsion
WorldWise Marine says there are savings to be on smarter propulsion for emergency towing vessels.
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25 Jul Japan's bunker market shrugs off nuclear plant shutdown
Bonded market would remain tight in August even without any nuclear plant closures.
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25 Jul Sri Lanka prices to compete with East Asia
Ceypetco Bunkering Services wants to cut differential with Singapore.
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24 Jul Fuel switching meeting covers feasibility, availability
Industry experts covering key issues relating to proposed California main engine distillate rules.
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24 Jul Diesel spill clean-up 'could take weeks'
Response teams swinging into action after weekend grounding causes fuel tank rupture.
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24 Jul Bunker suppliers face growing credit risks
'Only a matter of time' before bunker industry experiences 'unprecedented credit crunch'.
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24 Jul Singapore fuel oil storage to revert to ExxonMobil
Sources say major could use tanks for its marine fuel business.
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24 Jul St. Petersburg market undercutting competitors
Hike in Russian fuel oil export tax could widen differentials still further.
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24 Jul Prompt supply still limited in Rotterdam
24 Jul Chimbusco gives bunker sales total
China's state-owned supplier says it sold 1.7 million metric tonnes of bonded bunker product in first six months.
In Full
24 Jul Oil falls on OPEC output hint
Analysts, however, do not expect oil prices to fall heavily.
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24 Jul Malaysian firm to offer bunkering service in East Kalimantan
Operation could be up and running by the end of the month.
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24 Jul Bumper year for Tokyo-based supplier
CEO of International Bunker Services K.K. expects crude oil prices to go into downward spiral in the next 12 months.
In Full
23 Jul US bunkers ignore bearish markets
23 Jul Russia wants oil products to move through Russian terminals
Transport minister says refined products should be considered a 'strategic material'.
In Full
23 Jul European markets falling back
Bunker hubs see prices come off last week's record highs.
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23 Jul Fresh warning on crude oil prices
Centre for Global Energy Studies urges OPEC to increase production, saying supply and demand are out of balance.
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23 Jul ARA market down Monday morning
23 Jul Singapore's bunker market begins to soften
Some regional hubs see prices fall, but players say the outlook remains 'firm'.
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23 Jul S Korean bunker trading firm incorporates new name
23 Jul AZRB to buy stake in storage and port operator
Malaysian firm doing well in its bunkering operation and looks to further expansion.
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23 Jul Matson raises bunker surcharge
Bunker fuel surcharge to increase by 1.5% due to higher bunker prices.
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23 Jul Record bonded bunker sales for Chimbusco
Chinese state-owned supplier says it wants to bring prices closer to regional levels.
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20 Jul Panama Canal avails 'adequate'
Quiet day to end week as prices slip amid supply talk and buyers focusing elsewhere.
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20 Jul Caribbean, South America on bull run
Significant jump in regional bunker prices as impact of firming markets elsewhere spreading.
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20 Jul Napoli successfully split in two
No reports of pollution as salvage operation moves into new phase.
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20 Jul Saudi fuel oil cargo gains value
Discount to Singapore shrinks in thirsty market.
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20 Jul DNVPS recommends early SECA compliance
Majority of EU member states in and around North Sea SECA aim for August implementation, rather than IMO's November deadline.
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20 Jul Egyptain player eyes more operations in Port Said
Mashreq Petroleum is bidding to build terminal and liquid storage facility.
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20 Jul Rotterdam market continues to firm
20 Jul Asia bunker prices in dramatic surge
Singapore sees highs of $415 per metric tonne for 380 cst bunker fuel.
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19 Jul Grounded fuel oil tanker refloated
Cargo lightered in freeing of vessel, hull inspections underway.
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19 Jul Brightway targets IPO
Independent Chinese bunker supplier throws 15th anniversary celebration and outlines future plans.
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19 Jul Rotterdam market soars to all-time high
Strong crude and limited fuel oil supply sees Rotterdam bunker prices surpass previous records.
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19 Jul Clean-up crews recover bunker waste
Some 47 metric tonnes of oil have been cleared from Ibiza's coast.
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19 Jul Scrubbers stuck in washwater dilemma
Introduction of exhaust gas scrubbers held back by lack of IMO criteria for washwater discharge.
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19 Jul Fuel oil stocks fall
Singapore product levels fall as arbitrage volumes fade.
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19 Jul Singapore fuel oil production unit in week-long shut down
Maintenance turnaround comes at time when arbitrage volumes are falling.
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19 Jul Nuclear plant closure puts pressure on fuel oil market
Japanese nuclear power station could be closed for more than a year.
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19 Jul Tight supply keeps Singapore prices firm
380 cst material hits high of $391 pmt in Asian hub.
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18 Jul Mixed picture for South America bunker price trends
Key ports also posting record prices but gaps narrowing with regional competitors.
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18 Jul US gasoline draw sends oil prices higher
DOE report shows unexpected fall in gasoline inventories.
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18 Jul SBI and Nour Libya Marine Services sign marketing agreement
Offshore bunker operation is serving growing Mediterranean market.
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18 Jul Fuel subsidies spark controversy
Fishermen's association uses WWF study attacking fuel subsidies to support its own call for help with rising fuel costs.
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18 Jul Trader returns to Global Fuels
18 Jul Report: Baltic fuel terminal for sale
More signs that Russia wants to cut fuel oil exports via Estonia.
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18 Jul T&E calls on EU to take lead on emissions
Slams IMO for failure to update 'obsolete' ship emission standards or provide framework for cutting greenhouse gases.
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18 Jul Fears of new oil spills as vessel is prised apart
Salvage teams use explosives on containership wrecked off UK south coast.
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18 Jul Goldman Sachs says crude oil could hit $95
More warnings that crude oil prices are set to rise.
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18 Jul Yangkou port targets 1.2 million m³ oil storage facility
China Holdings announces joint venture to develop an oil storage complex.
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17 Jul US bunkers give buyers some relief
Prices steady or shifting little as bullish markets take a pause.
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17 Jul Fuel switching meeting to hear industry views
California workshop covering technical, environmental aspects of proposed fuel switching regulations.
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17 Jul Sadness at tragic death of bunker trader
Leonidas Michas and his family tragically killed in a car accident this morning.
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17 Jul Russia halves oil product exports through Estonia
Fuel oil shipments hit as Russia re-routes exports for the second time in three months.
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17 Jul Spanish minister says bunker leak 'under control'
But opposition party say authorities were 'slow to react' to oil spill.
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17 Jul UK representative to head IMO study group
Group of experts has a few months to assess effect of various fuel options considered to update MARPOL Annex VI.
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17 Jul Singapore bunker market 'could tighten' as arbitrage slows
Shipbrokers and traders warn that fixtures have 'fallen through'.
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17 Jul DNVPS calls for more clarity ahead of latest SECA
Ship operators shouldn’t be liable if low-sulphur bunker product, 'bought in good faith’, fails to comply with low sulphur regulations.
In Full
17 Jul Rotterdam market stays tight for prompt supplies
17 Jul Singapore considers floating oil-storage
Report says local agencies are studying proposals for 'very large floating storage' units.
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17 Jul Hong Kong 380 cst material nears $400
But spot demand stays strong, despite the high prices.
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16 Jul Shell on the move
Closure of port supply operation making observers worried.
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16 Jul Europe wants 'holistic' maritime policy
MEPs endorse integrated European maritime policy, call for assessment of emissions trading for ships and better protection of vessels' bunker tanks.
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16 Jul Bahamas terminal likely to go to US investment bank
Reports say Morgan Stanley is frontrunner to buy the BORCO oil storage and bunkering terminal.
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16 Jul Uphill struggle on emissions at IMO
No new resolutions on air pollution after week-long IMO committee meeting.
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16 Jul Ceyhan refinery project wins initial approval
Refinery could boost bunkering prospects on Turkey's Mediterranean coast.
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16 Jul Bunker spill threatens nature reserve
Environmentalists say Ibiza oil slick shows need to restrict shipping off the Balearic Islands.
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16 Jul Rotterdam remains firm on tight supplies
16 Jul 'Triple-digit' oil prices in sight
Analysts divided, but some predict tight supplies and strong demand will drive oil prices sharply higher.
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16 Jul Ceylon Petroleum to stage comeback
Plans in the pipeline to buy bunker tankers and to go into joint ventures.
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13 Jul Friday the 13th unlucky for bunker buyers
US marine fuel following bullish products sentiment to new record highs this week.
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13 Jul California fuel switching 'feasible', industry says
Large majority polled seeing no problem with main engine switch, but fuel cost and availability a major issue.
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13 Jul ARA supplier takes second dedicated barge for LSFO deliveries
Chemoil says operators are 'beginning to understand' what failure to comply with sulphur regulations could mean.
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13 Jul Total boosts 500 cst sales capacity
Existing storage couldn't keep up with demand from container vessels at Fos.
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13 Jul Floating storage continues to grow
Reports say Shell has chartered a suezmax tanker to store fuel oil close to the Singapore energy hub.
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13 Jul Ibiza oil slick spreading
Divers find bunker fuel leaking from a broken pipe.
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13 Jul Rotterdam: Prompt supplies tight
13 Jul Singapore June bunker sales hit record
June bunker sales up 8.4% month-on-month and 23.9% year-on-year.
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13 Jul Japan: May bunker sales up 12% on year
Bonded bunker fuel sales rose while marine diesel oil sales fell.
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13 Jul Singapore bunker demand holds steady
Record high bunker prices has little impact on bunker demand.
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12 Jul Fuel oil cargo stranded off New York
No spill reported yet from 80,000 tonne cargo.
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12 Jul Strong bunker demand in ARA despite high prices
Fuel oil stocks in North European bunker hub fall for the second week in a row.
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12 Jul Colombian player buys terminal
International Fuels buys storage facilities in Cartagena.
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12 Jul Shipping's CO2 emissions to hit 1.2 billion tonnes
Failure to exploit new technologies 'could cost shipping $110 billion in waste bunker costs over 20 years'.
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12 Jul Oil slick appears off holiday island
Bunker fuel threatens Ibiza port and coastline. Spanish transport minister breaks trip as investigations into ferry sinking begin.
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12 Jul Production starts at UK's first waste oil re-refinery
Plant now in a position to make base oil from used lubricants.
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12 Jul World's largest LNG ship a 'green gem'
Dual-fuel system could save 40 tonnes of bunker fuel a day for new LNG carrier delivered to BP Shipping.
In Full
12 Jul Rotterdam remains firm this week
12 Jul Singapore: Stocks of residual fuel fall, middle distillate up
Lower influx of Western arbitrage cargoes felt in stock levels.
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12 Jul Hong Kong to table anti-pollution bill
Hong Kong expected to align its legislation with MARPOL Annex VI.
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12 Jul Fuel oil shipment to North Korea hits bunker supplies
South Korea's spot market for bunker fuel is 'very tight'.
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11 Jul California vessel speed, shore power meetings tomorrow
Stakeholder consultation moving ahead with a further round of discussions.
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11 Jul Oil dips on DOE report
Second consecutive week of gasoline build sees oil market ease.
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11 Jul Bunker fuel leaking after ship sinks
Vessel has sunk off popular tourist island in the Spanish Mediterranean.
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11 Jul Baltic SECA helps push down global sulphur average
IMO's figures for 2006 show drop in global sulphur average, but calculation method may have skewed result.
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11 Jul O.W. Bunker hires new traders
UK office welcomes two new traders this week, another joining later.
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11 Jul Fuel oil supplies 'likely to be squeezed'
Analysts predict Middle East demand will put pressure on supplies at a time when refinery upgrades are cutting output.
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11 Jul DNVPS raises bunker alert in Singapore
DNVPS says samples tested were not CP60 compliant; MPA urges further verification of the fuel quality by testing the official CP60 samples.
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11 Jul Oil hits 11-month high
Concerns linger over unrest in Nigeria and US energy inventory levels.
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10 Jul New 'indispensable guide' to Singapore bunker market
Newly-launched report offering details of all 75 marine fuel suppliers in the port.
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10 Jul Maersk fuel switching 'very successful'
Company seeing emissions reductions in California without technical issues.
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10 Jul Durban refinery back on-line
Product shortages in South Africa's bunker markets ease, anxieties remain.
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10 Jul New Statoil trader settles in
10 Jul MEPC endorses 'expert group' to study fuel options
Oil and bunker industry to be represented in IMO-commissioned study aimed at informing decision on MARPOL Annex VI revisions.
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10 Jul Asian bunker market will feel the pressure to reduce emissions
Chemoil says it is well placed to meet future Asian LSFO demand. Reports four-fold increase European LSFO sales.
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10 Jul Jensen joins OceanConnect
Trader will lead OceanConnect's Scandinavian operations.
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10 Jul Rotterdam market still holding firm
10 Jul Emissions dominate MEPC agenda
Mitropoulos stresses urgency of establishing international ship emission controls to avoid unilateral action.
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10 Jul Singapore bunker prices continue their rally
Players warn that supplies may tighten later this month.
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09 Jul US prices continue record-setting climb
Further firming of bunker numbers to historic highs on the back of bullish crude.
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09 Jul Aegean orders more tankers
Bunker supplier has long-term plans for five additional service centres.
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09 Jul EU should back wind and solar power
IMO blamed for 'lack of progress' in tackling emissions from ships.
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09 Jul Rotterdam market firm
09 Jul No break in 'bull' run
Asian fuel oil market pulls Singapore bunker prices to fresh highs.
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09 Jul Grounded container ship floats free
UK salvage operation refloats container ship that triggered bunker spill alert.
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09 Jul Morgan Stanley buys first Middle East cargo
Investment bank buys first Middle Eastern fuel oil cargo for July loading after taking up storage in Asia.
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09 Jul Global Risk Management hires new bunker staff
09 Jul Analysts expect positive progress for Malaysia's bunker hub
New facility should address the lack of storage space as well as lowering bunkering costs, research says.
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06 Jul Promotion at Global Risk Management
06 Jul BP Marine launches Panama supply service
One barge already commissioned and another expected to be deployed soon.
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06 Jul Emissions discussion to continue at MEPC
IMO committee expected to establish working group and endorse scientific study to review impact of current Annex VI proposals.
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06 Jul Italian Navy on path to MARPOL compliance
Classification society RINA says it is the first navy in the world to volunteer for MARPOL certification.
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06 Jul Cruise ship sinking caused 'minimal' pollution
Study shows little impact on Greek island's waters, but islanders complain that bunker threat remains.
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06 Jul Rotterdam firms on higher crude
06 Jul Shipmanagers dispute ‘bunker fraud claim’
But trade association warns: If owners want to slash management fees, some might resort to ‘less ethical activities’.
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06 Jul Crude jumps despite build in US stocks
Players remain concerned by unrest in Nigeria.
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06 Jul Malaysia's new bunker hub to complement Singapore
Malaysia's Tanjung Bin oil storage and bunker terminal will 'help Singapore' says operator.
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05 Jul Rude awakening?
Deteriorating bunker quality and refinery changes could make distillates the logical long-term choice for ships according to DNVPS consultant.
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05 Jul DOE report a 'bearish surprise'
Key US oil stocks show builds across the board.
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05 Jul Market nervous as fuel oil prices break another record
Asian players reluctant to take a large position as fears of crash grow.
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05 Jul Work starts on Malaysia's largest bunker hub
KIC-controlled APH gets government endorsement to develop bunkering facility on reclaimed island off PTP.
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05 Jul European operator goes into liquidation
Bunker companies reported to be among the creditors.
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05 Jul Owners will pay for salvage operation
Operation to free Pasha Bulker from sandbar estimated at over $4 million.
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05 Jul Fuel oil stocks climb
Singapore inventories swell for the second week running.
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05 Jul Retroactive price for June surges ahead
Japan's benchmark bunker price jumps $21 per mt.
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05 Jul East Asia market still hitting record highs
Bunker prices buoyed by fuel oil prices which have hit record highs for the seventh time in a month.
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04 Jul Pipeline project moves ahead
Fujairah pipeline project looks for engineering and design contractors.
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04 Jul Mexican market 'set to grow'
Prices are now regionally competitive and likely to remain so 'for some time'.
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04 Jul New record quarter for IMAREX
Exchange continues to expand but activity in fuel oil derivatives lagging behind previous quarters.
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04 Jul Oil leak contained by 'absorbent trench'
UK supplies confirmed leak of 32,000 litres of fuel.
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04 Jul EC to rule on OW Bunker sale this month
Sale to private equity group being treated as 'uncontroversial'
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04 Jul Congestion at Rotterdam's terminals clears
Players report strong demand; some warn of shortage of blended material.
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04 Jul Chemoil forms storage and shipping subsidiaries
Chemoil says the move is part of its efforts to rationalise operations.
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04 Jul ARA market remains firm
04 Jul Nippon buys spot bunkers in Singapore
Japanese refiner buys spot 380 cst from South Korean supplier after forming a strategic alliance.
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04 Jul Pakistan chooses Middle East over Singapore
PSO will continue to import fuel oil from the Middle East, leaving Singapore to play only a marginal role.
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03 Jul Transoil welcomes trader
03 Jul Aker Yards picks up more bunker contracts
Repeat order from French transport company takes current bookings to four.
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03 Jul Focus remains on Saldanha Bay
Reports from South Africa say prospects for the deep water port are good.
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03 Jul Lubmarine comes to Cyprus
Total's global lubricant network expanded to Cyprus following deal with local company.
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03 Jul Rotterdam stays firm, no congestion
03 Jul East Asia market firms to record high
Bunker prices supported by a firm Singapore market and strong crude oil prices.
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03 Jul Australia refloats grounded bulker
Pasha Bulker is finally pulled off the beach after being stranded for three weeks.
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03 Jul Oil rallies on supply concerns
New York crude price closed near 10-month high on Monday night.
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03 Jul PDVSA bunker tanker out for maintenance
No supply offshore Lake Maracaibo during vessel's service break.
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02 Jul O.W. Bunker boosts South African team
New trader for O.W. Bunker's South African office.
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02 Jul Summer brings back unwelcome smell
Gibraltar environmental group encourages public to call "Bunkering fumes Emergency Hotline".
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02 Jul Shell boosts Asian lubricant production
Oil major to build China's biggest lubricant blending plant; expanding facilities elsewhere.
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02 Jul Coast Guard says little risk of oil pollution as ship sinks
15 crew rescued from vessel which sank off Indian coast this weekend.
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02 Jul Sri Lankan trade unions call for bunkering state monopoly
Union spokesman says privatisation deal with LMS 'added nothing'; objects to entry of Lanka IOC.
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02 Jul ARA: No strike at Vopak
02 Jul Malaysia's bunkering infrastructure set to grow
Malaysian firm building terminals in Kota Kinabalu and Lahad Datu and considering another in Sandakan.
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02 Jul Oil leaks from grounded ship
Bulk carrier Pasha Bulker has leaked oil after an unsuccessful attempt to refloat it.
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