News Archive May 2006

31 May Port tests scrubbing at berths
Terminal operator and Long Beach port authority testing new dockside scrubbers, predicting advantages over cold ironing.
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31 May Argentina avails 'improving'
Strong demand and some resupply issues keeping avails tight until next week.
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31 May New US Gulf fuel oil contract to go live
Maritime exchange adds US Gulf fuel oil futures to existing portfolio of bunker fuel contracts.
In Full
31 May Scrubbers of limited use in Baltic SECA
Reduced scrubber efficiency for SOx reduction in the Baltic "a fact of nature", but PM reduction not affected says scrubber manufacturer.
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31 May Petroplus gets go-ahead for acquisition
Dutch holding company expands reach in ARA region after acquisition gains regulatory approval.
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31 May Rising crude gives Rotterdam momentum
31 May Singapore supplier takes delivery of double-hulled barge
Newly built 6,500 dwt double-hulled bunker tanker arrived in the port of Singapore on Sunday.
In Full
31 May Japan: Strong bunker fuel avails, demand weak
Bunker fuel supplies into the bonded market are expected to be strong in the month of June.
In Full
30 May Low-sulphur fuel will cost Maersk 'millions' more
Shipowner carrying extra cost and shrugging off concerns with fuel switching in California waters.
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30 May Record bunker delivery time achieved in Rotterdam
700 cst fuel oil supplied at speeds up to 2,200 mt/h during trials to test the maximum intake on AP Møller-Maersk vessels.
In Full
30 May Mediterranean: New oil & bunkering terminal in operation from mid-2007
The new port development has been mooted as a very strong competitor to ports in the Gibraltar triangle.
In Full
30 May Istanbul's third bunker conference gets underway
The third International Istanbul Bunker Conference, organised by the Turkish Bunker Association, gets underway today.
In Full
30 May Rotterdam holds steady
30 May Prices hold steady in Singapore market
Bunker prices relatively unchanged since last Friday, avails of MGO remains tight.
In Full
29 May Maersk adopts low-sulphur fuel
Shipowner switching to distillate fuel on all engines for California ports.
In Full
29 May Hong Kong: Cargoes of 180 cst scheduled to arrive in June
180 cst bunker fuel remains tight as cargo arrivals have been delayed.
In Full
29 May Goldman Sachs projects oil prices to touch $105
Oil prices at $100 per barrel is considered a conservative price in the event of a major supply disruption.
In Full
29 May Singapore: MPA urges early action on compliance with Bunker Convention
The Bunker Convention will ensure adequate compensation for persons who suffer damage caused by bunker oil pollution.
In Full
26 May Mombasa port to become regional oil spill response centre
Port to spend almost $700,000 to upgrade oil spill response equipment and invest in training.
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26 May Market analyst takes a shine to WFS
Volatile markets seems to benefit World Fuel Services, analyst notes.
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26 May Reduced inventory levels continue to pressure lubes market
"Sudden changes in lifting patterns or overlifting, even by a few customers, can create temporary localized pressures that may affect the supply chain network," says Jill Nguyen of BP Marine Lubricants.
In Full
26 May Less than lofty Q1 result for Attica
Another loss-making Q1 for Greek ferry operator as fuel costs rise by 65% from a year earlier.
In Full
26 May Baltic refinery deal set to go ahead
Yukos free to sign deal in the Netherlands to sell its majority stake in Lithuanian refinery to Polish buyer after US court decision.
In Full
26 May Quiet Friday morning in Rotterdam bunker market
26 May South Korea: Demand strong amid good avails and competitive pricing
Good demand noted while bunker prices expected to firm.
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26 May Sudan receives invitation to join OPEC
Sudan president will study the invitation and consider membership offer.
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25 May US markets congested ahead of long weekend
Prices moving as suppliers reporting steady demand but few prompt opportunities until next week.
In Full
25 May Doubts raised about scrubber efficiency
Low alkalinity in the Baltic Sea would make scrubbers in their current form impractical says Wärtsilä.
In Full
25 May PRAXIS: Daily bunker market report
25 May Iran jitters send crude back above $70
Geopolitical jitters combine with low US gasoline stocks ahead of peak driving and hurricane season to push crude higher.
In Full
25 May MOL: Earnings at risk if crude stays above $70
Japanese shipping firm says each $1 increase in average bunker fuel cost cuts profit by ¥300 million, but embarks on big expansion.
In Full
25 May Singapore: Stocks of residual fuels up, distillates down
25 May Singapore: Demand tame for low sulphur bunkers
Singapore suppliers have noticed no ripple effect in terms of demand from the implementation of the first SECA.
In Full
24 May SemGroup beats out rival for TransMontaigne merger
Bidding frantic in merger, but FTC investigation into deal could take months.
In Full
24 May UK: Fuel suppliers will be liable under MARPOL legislation
The UK's interpretation of MARPOL Annex VI seeks to make the right parties responsible for fuel quality and takes sensible line on borderline sulphur content.
In Full
24 May DOE & API at a glance: This week's key US inventory figures
24 May Lubrizol completes fifth divestiture
Lubricant additive manufacturer completes sale of fifth and last part of non-core businesses with combined revenues of $500 million.
In Full
24 May Polish buyer lined up for Baltic refinery
Yukos has reportedly agreed to sell majority stake in the only oil refinery in the Baltic States.
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24 May Imarex positive on Q1 results despite lower revenues
Norway-based maritime derivatives exchange reports strong overall growth with new bunker fuel contact making positive contribution.
In Full
24 May Barge trade bids move up in firm Rotterdam market
24 May Hong Kong: 380 cst bunker fuel sees strong demand, 180 cst tight
Heavy demand for 380 cst results in slight barge congestion.
In Full
23 May Petrobras phone outage
23 May Port signs second green lease
Long Beach pushing for cleaner air as third-largest terminal operator agrees to cold ironing.
In Full
23 May EU plugs more shore-side power for ships
Commission urges European states to provide incentives for shore-side electricity as part of push to improve air quality.
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23 May Denmark: Dan-Bunkering welcomes new trader
23 May Second Saudi Aramco refinery deal on the cards
One deal signed, another nearly ready, for two major new export-oriented refineries in Saudi Arabia.
In Full
23 May Rotterdam market heads higher
23 May OPEC would consider lowering output, Venezuela says
Venezuela backs oil output cut from OPEC, oil prices may surge on upcoming US hurricane season.
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23 May Appeal to regain bunker licence sets precedent in Singapore
The Appeals Panel recommended to reinstate a Singapore supplier's bunker licence after presiding over the first such case.
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22 May Ventrin expands team in wake of tanker addition
Point Lisas supplier announces new team members after bunkering service goes island-wide.
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22 May OSG in further US oil spill charges
Chief engineer accused of tampering with 'anti-tricking' equipment installed by OSG.
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22 May Auckland: Marine services team up for oversize bunker call
Oversize vessel poses operational difficulties for bunker call.
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22 May Higher bunker prices boost Singapore wholesale trade
Bunkering makes positive contribution to Singapore's Q1 wholesale trade index, though overall slowdown is noted.
In Full
22 May Rotterdam bears take hold
22 May MPA reinstates Singapore supplier's bunker licence
The port authority has accepted an Appeals Panel's recommendation to reinstate a supplier's bunker licence.
In Full
19 May LA barge company receives port funding
Port announces emissions reduction projects, including refits for tug engines.
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19 May New trading company formed in Greece
Trading company formed to promote international sales for one of the leading suppliers in Piraeus.
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19 May P&I club warns members of low sulphur implications
Gard warning of technical difficulties and likely strict enforcement of low sulphur regulations.
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19 May Total offers low sulphur supply at Baltic border
Total refinery on Kiel Canal supplying low sulphur bunkers in the wider Hamburg area.
In Full
19 May Suppliers report run on low sulphur bunkers
Ship operators in last minute dash to comply with today's Baltic SECA implementation strain prompt supply capacity beyond expectations.
In Full
19 May Rotterdam bullish on back of crude
19 May SK Corp to export 1,000 cst HSFO into Singapore
Low demand in South Korea's bunker market may have prompted the export, which is scheduled to arrive in early June.
In Full
19 May Oil prices remain high despite surplus of supplies
With crude over $70 per barrel, Saudi Arabia's foreign minister pledges to lower oil prices.
In Full
18 May California updates ship emission law
Public comment period opening on revised auxiliary engine distillate fuel rule, safety clause included.
In Full
18 May O.W. Bunker expands African physical bunker operations
New dedicated bunker barge service to fill a supply gap in this market.
In Full
18 May No easy cruise for Carnival
Fuel costs a factor in sharp reduction of earnings forecast, outlook mixed in cruise sector.
In Full
18 May UK: High fuel prices spark fuel efficiency projects
Programme aims to improve fuel efficiency across the whole UK fishing fleet while also providing environmental benefits.
In Full
18 May Rotterdam backs off as crude stays under $70
18 May Singapore: Stocks of distillate recover from record-low
Onshore stocks of middle distillates up, residual fuels down.
In Full
18 May High bunker costs translate to net loss
The third largest cruise operator in the world posted net loss in Q1 on higher ship operating expenses.
In Full
17 May Buyers wait for lower prices
US markets quiet as buyers considering alternatives and expecting lower prices.
In Full
17 May PDVSA staff change
17 May DOE & API at a glance: Latest key US inventory figures
API reporting drops across the board while DOE shows gains for gasoline stocks.
In Full
17 May Nigeria: Bunker potential in excess of $1 billion
Sources familiar with the Nigerian market peg potential demand at 3.6 million mt annually, if obstacles can be overcome.
In Full
17 May Fujairah-linked fuel oil futures contract in advanced stage
DGCX chairman hints at implementation of new regional futures contracts for fuel oil in September.
In Full
17 May Rotterdam firms after stable night for crude
17 May Abrasive fuels flagged up
Testing firm warns of high cat fine levels and indicates possible waste lube contamination in recent bunker deliveries.
In Full
17 May Hong Kong: Typhoon Chanchu disrupts bunkering
Typhoon signal number 3 was hoisted in Hong Kong this morning.
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17 May Singapore: April bunker sales down 3.7%
Bunker sales remain strong above 2 million mt, total bunker sales in 2006 up 8.3% on year.
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16 May Long Beach goes greener
New report charts green policy progress, including new technology for ship main engines.
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16 May Richards Bay bunker operations affected by pipeline leak
Bunker supply suspended at two berths out of three following a leak on a fuel oil line.
In Full
16 May West-East arb flows to remain high in June
With Singapore bull play coming to a close, traders hope falling fuel oil prices will spur Chinese demand as arbitrage arrivals remain high.
In Full
16 May Rotterdam recovers slightly from early crude drop
16 May Singapore supplier wins support to continue operation
Court ruling in favour of bunker supplier to continue business following firm support from most of its creditors.
In Full
16 May Singapore bunker prices on strong retreat
Bunker prices weaker following more than $2 drop in crude prices last night.
In Full
15 May Maersk, Port of LA lease talks terminated
Port authority looking for new tenant as shipowner walks away from negotiations.
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15 May Volgotanker's troubles deepen
Russia's leading river oil transport company reported to be mothballing fleet due to crippling tax claim.
In Full
15 May New ship engine performance analyzer introduced
Monitoring system for ocean-going ships claims improved engine performance and fuel efficiency.
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15 May Fuel blender prepared for Mediterranean bunker barge operation
Blender being pressure tested and approved before installation on Mediterranean bunker barge.
In Full
15 May Rotterdam reacts to crude fall
15 May Typhoon causes grounding of oil tanker
Oil tanker carrying 1,500 mt of bunker fuel ran aground off the coast of Pinamalayan, the Philippines.
In Full
15 May Approaching typhoon may halt Hong Kong bunker deliveries
Typhoon Chanchu is expected to hit Hong Kong later this week.
In Full
15 May Shipping company raises bunker fuel surcharge
Hawaii's largest shipping company said it will raise its bunker fuel surcharge for the third time this year in June.
In Full
12 May US: Bunkers ride crude's peaks and troughs
Prices moving with market fundamentals as week ends quietly.
In Full
12 May Russian river shipments shrinking, but not ending
Russian ministry official seeks to allay concerns and says dredging work will keep Russian oil products flowing.
In Full
12 May Fuel costs prompt NYK to predict lower profit
NYK reports 13% decline in operating profit in the financial year just ended, and predicts more of the same in the current year as fuel costs weigh heavy.
In Full
12 May Rotterdam supplier takes steps to meet growing LSFO demand
Increased interest prompts AFT Chemoil to dedicate barge to service the new LSFO market, where prices currently vary widely from port to port.
In Full
12 May Quiet end to week in Rotterdam
12 May MOL: Fuel costs will prompt 2006 profit drop
Despite posting a profit increase for the fiscal year just ended, MOL predicts fuel costs will hit hard in the coming year.
In Full
12 May Japan: April retroactive bunker price touches new high
NYK will pay the highest price ever to Nippon Oil Corp for its April bunker fuel bill.
In Full
12 May Thai-listed firm posts 51% drop in Q1 profit
Thailand's sea-transportation firm attributes its profit drop to high bunker costs and low freight rates.
In Full
11 May Bunker fuel boosts Chile exports
Increasing price and volumes for first quarter reported.
In Full
11 May Bominflot strengthens Indian presence with physical position
Bominflot will be offering physical deliveries in Kandla and Mumbai from May 15, with other ports being considered for development.
In Full
11 May Bunkers take big bite out of NOL Group's Q1 result
NOL Group and its container line APL suffer bunker setback, while rates have held up better than expected.
In Full
11 May K-line: Rising bunker prices shaved $228.5 million from profit
K-line says net profits up, but operating profit and current profit severely dented by higher fuel costs.
In Full
11 May Another record result for World Fuel Services
WFS off to a good 2006 start as Q1 net income doubles from a year earlier.
In Full
11 May Crude suppresses Rotterdam activity
11 May Singapore: Distillate stocks below 5 million barrels
Onhore stocks of middle distillates lowest on record, residual fuels also down.
In Full
11 May Philippines: 2 injured in oil tanker explosion
Two people injured, investigations underway to find out the cause of explosion.
In Full
11 May Gladstone: Larcom reschedules dry-docking dates
Gladstone supplier IBS advises that the dry-docking of its bunker barge has been rescheduled to a later date.
In Full
10 May Emissions conference in Vancouver announced
Conference to cover government and port initiatives, North America SECA proposal.
In Full
10 May Colonial barge fleet keeps expanding
US supplier orders two more new-builds for Savannah and Jacksonville.
In Full
10 May DOE & API at a glance: Latest key US inventory figures
DOE reports gains in product inventories as refining rates recover.
In Full
10 May Bunker gloom and rate doom weighs on shipping
Persistent high bunker prices could undermine economies of scale for container ships, tankers resort to slowing down to save fuel, and a cross-section of shipping suffers floundering freight rates.
In Full
10 May New bunker supply service offered near Kerch
Supplies of MGO offered to vessels sailing in and out of the Sea of Azov.
In Full
10 May Yet another slow start for Rotterdam
10 May Slow demand drags Hong Kong bunker prices down
Demand slowing with prices down from the high levels of early-May.
In Full
09 May New bunker barge services in Chile
Major supplier offering expanded service, focusing on quality.
In Full
09 May Bunkers and bananas slip up Fresh Del Monte Q1 results
Blame split between increased bunkers and banana costs as Q1 profits are halved.
In Full
09 May IEA boss predicts high oil prices for 4-5 years
Lack of investment leading to high oil prices and tight market, according to Claude Mandil.
In Full
09 May Another quiet start to Rotterdam trading
09 May Bunker costs cut 40% profit for shipping firm
Bunker costs ''the most significant cost element to the shipping industry'', Thai-based firm saying.
In Full
09 May Singapore bunker prices retreat, MGO tight
Suppliers remain cautious in committing to prompt deliveries for MGO.
In Full
08 May Chemoil expands European presence
Supplier announces new marketing manager and 'improved service'.
In Full
08 May West-East arbitrage flows high at 2.5 million mt in May
Arrivals into Asia in May remaining high, with limited uptake expected from Chinese buyers.
In Full
08 May Panama bunker report: Improve price and availability
Industry report to focus on the basics, recommendations in 4-5 weeks.
In Full
08 May O.W. Bunker Spain relocates, future expansion likely
Newly formed branch office moves to new premises.
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08 May Middle East bunker supplier acquires two barges
With new bunker facility opening by year end, supplier acquiring two 3,800 tonne vessels.
In Full
08 May Quiet start to Rotterdam's week
08 May Japan: Bunker demand flat, prices up
Bunker activity flat after a long holiday for northeast Asian countries, particularly Japan.
In Full
08 May Cargo tank crack leads to bunker oil spill
Vessel spilling more than 20 mt of bunker oil in waters near one of Thailand's industrial estates.
In Full
05 May Los Angeles bunker market takes a plunge
Prices heading lower as one supplier grabs business from other regional ports.
In Full
05 May Reports: Aegean/FAMM storage deal finalised
Reports cite market sources claiming negotiations finalised, with FAMM to hold some tankage.
In Full
05 May CIS ports could gain from Volgotanker woes
Exporters seek alternative routes as Volgotanker's woes leaves the company unable to buy bunker fuel to ship its contracted volumes.
In Full
05 May Poor fuel quality not necessarily linked to low sulphur
WW group downplays link between low-sulphur fuel policy and quality problems that have led to several debunkerings.
In Full
05 May Crude plunge reflected in Rotterdam indications
05 May SK Corp to reduce June fuel oil exports
The oil refiner is expected to more than halve its fuel oil exports for June from May.
In Full
05 May Bunker costs cripple Q1 profits for Korean liner
South Korea's largest liner company posted 57.9% drop in net profit in Q1.
In Full
04 May Vancouver supplier announces low-sulphur fuel
Cruise line taking 1.5% fuel for summer season in contract deal.
In Full
04 May Oil below $70, drags bunkers down
Crude taking a dive today and US bunker prices following in main ports.
In Full
04 May Petrotrin plays down bunker barge collision
Company sources tell Bunkerworld reports of the incident have been exaggerated.
In Full
04 May WW overcomes bunker costs to perform strongly in Q1
Environmental front-runner enjoys strong Q1 results and good 2006 outlook despite higher bunker costs and low-sulphur policy.
In Full
04 May FAMM confirms Gibraltar market exit, negotiations underway
Company confirming cessation of bunker marketing activities in past week and in discussions over future of facilities.
In Full
04 May Soft crude prompts Rotterdam freefall
04 May O.W. Bunker welcomes Hamburg's first double hull barge
The new barge has already bunkered the world's largest cruise ship, the new Freedom of the Seas.
In Full
04 May Singapore: Distillate stocks at six-year low, residual fuels up
04 May Singapore supplier loses bunker licence
MPA saying it will not renew company's bunker licence, while company claiming they are still corresponding on the matter.
In Full
04 May Tight prompt deliveries underpin Singapore market
Bunker prices show signs of softening on paper market plunge.
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03 May Amerada Hess shortens company name
03 May K-Sea releases quarterly results
Barge operator seeing net income and operating revenues up from 2005.
In Full
03 May Port signs 'landmark' green lease with shipowner
Port of Long Beach and Matson agreeing to emissions reducing measures as part of new lease agreement.
In Full
03 May DOE & API at a glance: This week's key US inventory figures
03 May Russian official confirms export duty hike
Russian official confirms hike amid news of synchronisation of crude and product duty implementation.
In Full
03 May Lack of enforcement clouds cleaner air efforts
Doubts raised about just how efficient policing of sulphur limits in marine fuels is going to be.
In Full
03 May Rotterdam firm on crude rise
03 May Titan upbeat on 2006 performance despite negative rating
Standard & Poor's Ratings Services has revised its 2006 outlook on Titan to negative, but Titan paints a positive picture.
In Full
03 May Evergreen posts sharp drop in Q1 profit
Higher bunker fuel costs and lower freight rates causes slump in Evergreen Marine's Q1 profit.
In Full
02 May Stranded panamax refloated
No spillage of fuel oil cargo after grounding off Puerto Rico.
In Full
02 May Isobunkers New York team changes location
Service staying the same as personnel shift to Virginia offices.
In Full
02 May New trader for O.W. Bunker worldwide trading team
02 May Lubrizol records Q1 loss on costs and discontinued operations
Additive manufacturer records loss in Q1, but keen to stress continuing operations posted a profit in the period.
In Full
02 May Aegean in the frame for FAMM storage facility
Two Greek bunkering companies are said to be in negotiations to take over Chevron's storage facility amid rumours the company is exiting the Gibraltar market.
In Full
02 May New Turkish Straits bunkering terminal in full swing
Turkish supplier Petrol Ofisi says its new terminal in the southern part of the Turkish Straits is now fully operational.
In Full
02 May Asian bunker prices start month on a firm note
Prices start firm into the month with Singapore's firm bunker market as the main price lifting factor.
In Full
02 May Rotterdam numbers see post May Day surge
02 May MPA advises on criteria for Singapore Bunker Award
All Singapore licensed bunker suppliers and bunker tanker operators are eligible to vie for Bunker Award.
In Full
01 May Seattle the exception to quiet US markets
May Day closures in key markets keeping buyers away today, and frustration on the West Coast over price levels.
In Full
01 May Trucking strike leaves port operations unaffected
Long Beach and Los Angeles could be clearing cargo backlog as early as tonight, bunker suppliers reporting business as usual.
In Full
01 May Japan: March bunker sales up 25.7% on year
Bunker fuel sales to ocean-going vessels up both on year and on month.
In Full
01 May Shipping lines raise bunker fuel surcharge
The 15-member Far Eastern Freight Conference will raise its bunker fuel surcharge come June this year.
In Full