30 May Peninsula continues expansion strategy
Bunker supplier and trader Peninsula Petroleum Ltd. today announced the arrival of two new members to its team, signalling that the company has every intention of continuing to expand both in its existing markets and explore new business opportunities.
In Full 29 May 
Singapore: Hai Soon's bunkering licence cancelled
Singapore's third largest supplier. Hai Soon Diesel & Trading Pte. Ltd. announced in mid-May that it would close its bunkering operations in the port due to poor profit margins. The announcement came just two days prior to the MPA permanently cancelling the company's bunkering licence, following the conviction of the company's director in a corruption case.
In Full 28 May Iraq getting ready to sell oil from Ceyhan
Iraq is about to send out its first post-embargo tender for oil sales. The tender would be a way to measure the market for Iraqi oil, before it aims to resume term contracts as the country prepares for more regular export flows.
In Full 22 May 
Singapore: Tight avails in bunkers despite growing stocks
Singapore bunker prices rose backed by a moderate cargo increase today, but the main price driver is very tight avails for the rest of May. Meanwhile, a government report said Singapore stocks of residual fuels rose over the past week to the highest levels since late February.
In Full 22 May 
Platts bows to criticism on ARA barge market assessment
Platts announced changes this week that goes some way towards appeasing the criticism levelled at its MOC methodology.
The company will not abandon its MOC price assessment, but it has pledged to resume intra-day pricing for some FOB ARA barge markets, including, 0.2% gasoil and 3.5% fuel oil.
In Full 21 May 
Crude prices soar on API despite not-so-bullish DOE
DOE reported a moderate 664,000 barrels increase in US crude stocks as imports surged, wile API said they fell by 4.5 million barrels depite more imports. Another 690,000 barrels were squirreled away into the Strategic Petroleum Reserve.
In Full 21 May 
P&O pleased as EU considers alternatives to sulphur limitation
The European Union has at last moved towards including alternative methods for reducing emissions of sulphur from ships. This is good news for P&O and BP Marine, who are about to start trials of a new technology expected to dramatically improve ship exhaust emissions, including a 95% reduction in sulphur.
In Full 20 May Addax announces new JV bunkering service off-shore Morocco
A new off-shore bunkering service in the form of a Joint Venture between ABS and Somepi Carburants of Morocco (Somepi) will commence early June with the aim to supply not only fishing fleets operating off-shore Morocco, but also any commercial traffic passing in the area.
In Full 16 May INTERTANKO applauds US steps towards ratifying MARPOL Annex VI
Dragos Rauta, INTERTANKO: "The mobility of vessels and the variations in fuel quality and refining standards around the world mean that unilateral national efforts to regulate small segments of the international fleet are futile and will only delay progress on air quality improvements that will benefit the global ecology."
In Full 16 May Singapore power company to reduce fuel oil consumption in 2006
The fact that a Singapore power plant will reduce its HSFO intake by some 400,000 MT per year from 2006 may serve to make more of the fuel available for the Singapore marine fuels market. In the competition between domestic power needs and the marine fuels market, the latter tends to draw the short straw.
In Full 16 May Crude falls as US refinery restarts, more Saudi oil in April
Concerns for a US gasoline shortage eased as the ConocoPhillips refinery restarted. While US gasoline demand has displayed signs of weakness in recent data, an analyst warned that SARS and an increase in international terrorism may cause US holiday makers to stay on the road this year, leading to strong demand.
In Full 15 May EU: 'Polluter pays' laws closer after narrow MEP vote
Spurred on by environmental disasters like the Erika and Prestige oil spills, MEPs yesterday voted in favour of new legislation based on the "polluter pays" principle. However, MEPs were split on controversial amendments, which may delay legislation.
In Full 15 May Singapore: One supplier to quit port, another set for return
Singapore's third biggest bunker supplier Hai Soon has announced it will close its bunkering operations in the port after May due to poor profit margins. Meanwhile, Grandeur Trading plans to return to bunkering after the company had its bunkering licence reinstated by the MPA.
In Full 15 May Crude oil trades steady to soft after 2-day rally
Oil prices were steady to soft today after 2 days of big gains based on tight global inventories reported by the IEA Tuesday, terrorist bombings in Saudi Arabia and Chechnya and Wednesday's figures from the US showing that crude stocks fell significantly amid slowing imports and rising refinery runs.
In Full 15 May US: Preliminary study finds acid contaminants in fuel
At the beginning of May, Viswa Lab Corporation reported that it had found high Total Acid Number in some New Orleans fuels. 3 vessels complained of machinery damage. Dr. Vis says they have carried out a GC/MS analysis of one of the fuel samples, and found that the fuel contained acids which should not be found in bunker fuels.
In Full 14 May 
Premiums wiped out of Singapore bunker market as prices fall
Singapore bunker prices have been falling solidly for almost 2 weeks now, at last making the port a more competitive bunker option compared to other major bunker markets. The price of IFO380 peaked at just above $180 on May 2nd, but fell yesterday to $155 and below. Prices are not expected to fall any further relative to other markets.
In Full 13 May 
Platts MOC methodology heavily criticised in ARA bunker market
The new Platts "market-on-close" price assessment methodology introduced on April 1st is being heavily criticised in the Rotterdam bunker market. Many market sources say it fails to reflect the real barge market, and that it has made day-time bunker trading suffer. Barge trade volumes during the business day have fallen sharply, making a deep dent in turnover for fuel brokers.
In Full 08 May End of Iraqi oil expected to reduce US oil imports
US crude oil imports last week were again very high, but it was probably the last week it received substantial amounts of Iraqi oil. Even if Iraqi exports were to resume in June, it would be late July before the US sees any of it, while OPEC has pledged to cut its output from June onwards.
In Full 08 May 
Singapore bunker prices slip as product stocks improve
A week of sharp falls in Singapore bunker prices has helped reduce the port's big premium over other markets. The premium compared to delivered prices in Rotterdam for example has dropped from around $50 last week to about $35, and the price difference on Fujairah has narrowed right down to just $4-5 for IFO380.
In Full 06 May 
New Barge Service in Chile's Southern Region
On May 1st 2003, the barge Doña Blanca, which Copec used to have working in Chile's central region, set sail to its new operation area in the 8th region, offering barge supplies at a new set of ports.
In Full 06 May Fujairah cargo values fail to move on crude
One supplier speculated that there would be a trend towards closing the gap in prices between Singapore and Fujairah, because if demand continues as strong as it has lately, avails will be seriously restricted throughout May.
In Full 01 May Crude prices extend gains, time to hedge?
As the market has now fallen to about the lowest level OPEC will find acceptable, it looks like the best hedging opportunities for the latter half of the year are here now, or will present themselves on occasional price dips in the next few weeks.
In Full
Rotterdam firms further as avails dry up
Bulls return to oil market as US gasoline stocks fall
MPA ready to implement bunker supplier accreditation scheme
Testing times for St. Petersburg bunker suppliers
