News Archive May 2007

31 May Poll results: Shipping industry needs to do more
Voting showing that emissions need to be reduced before governments and port authorities take the initiative.
In Full
31 May Avails situation 'remains confused' in Argentina, Uruguay
31 May Mixed oil inventory picture from DOE
Oil prices rise after weekly report shows unexpected drop in crude stocks.
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31 May Spanish opposition calls for bunkering scrutiny
Bunkering in the Bay continues to draw criticism.
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31 May New trader to focus on African markets
SABT will offer expertise in providing product in 'niche African ports'.
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31 May More foreign traders eye China's fuel-oil futures exchange
Cargill International and Morgan Stanley positioning themselves to play a role, says report.
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31 May South Africa's markets struggling with fuel shortages
Durban and Cape Town have little to offer but demand for product is 'desperate'.
In Full
30 May Bearish crude sees US bunker prices fall
Fuel prices down amid mixed avails picture and a bumper stem in Houston.
In Full
30 May Hapag-Lloyd ships 'empties' to save on fuel
Bunker cost savings to be gained by limiting loads on Asia-bound container ships.
In Full
30 May Jamaica, Gibraltar stars of Aegean's first quarter
Aegean's bunker sales more then double in Jamaica; takes steps to improve flagging Fujairah sales.
In Full
30 May New potential MARPOL Annex VI sulphur violation
Fuel samples from a port in Italy have tested above 4.50% sulphur this month.
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30 May Egyptain market still facing shortages
Port Suez suffers while Port Said has had one replenishment cargo.
In Full
30 May Rotterdam market declines further
30 May Chemoil confirms Helios terminal acquisition
Acquisition will enable global marine fuel supplier to compete with larger players in Singapore bunker market.
In Full
30 May Singapore: Stocks of residual fuel and distillates down
30 May New Zealand tests oil spill response team
Oil spill exercise in Northland spanned two days.
In Full
30 May Japan anticipates tight supply in June
Bunker enquiries of more than 1,000 mt would be difficult to fulfill.
In Full
29 May Distillate fuel in all US ports by 2010
New legislation proposing low-sulphur fuels for all ships entering and leaving US ports.
In Full
29 May ConocoPhillips announces new bunker team
29 May Two new double-hulls for Norwegian market
New bunkering vessels should arrive in time for peak 2008 cruise season.
In Full
29 May Ferry will 'revolutionise how we move on water'
New York ferry operator says 'state of the art' solar and wind powered vessel would cut bunker consumption by one third.
In Full
29 May Chevron hangs on to Benelux marine and lubes businesses
Sale of Benelux fuels marketing business will not include Chevron's marine lubricants, additives and bunker businesses in Europe.
In Full
29 May Chinese fuel oil buying in Singapore set to rise
Tax cut will encourage Chinese importers to revert to Singapore product.
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29 May 20 years of ABC
Independent ARA bunkering company marks anniversary in style, plans for more double hulls.
In Full
29 May Rotterdam market down Tuesday morning
29 May Saudi minister blames politics for high oil prices
Official says oil market has never been 'more balanced' than today.
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29 May Shenzhen prices above Hong Kong
Shenzhen losing bunker stems to Hong Kong.
In Full
29 May Fujairah supplier takes first bunker tanker
7,450 dwt Miraj is the first of eight new double-hulled bunker tankers that will be delivered to Bakri.
In Full
28 May California shore power switch for 2015
New rules potentially impacting shipowners and ports with mandatory requirements mooted.
In Full
28 May Foreign support for Shanghai futures contract
BP becomes first foreign trader on China's fuel oil futures market.
In Full
28 May Petron commissions another double-hull tanker
Philippines oil company says its expects to commission more in the next two years.
In Full
28 May Greek ports falling behind
Shipping association renews calls for container handling operations to be privatised.
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28 May Shipping line expects its bunker consumption to grow
NYK Line could lift more product from Singapore.
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28 May Japanese bunker market 'efficient', says IBS
Player says there are rarely disputes or challenges.
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28 May Shanghai: Crude oil futures contract moves closer
The Shanghai Futures Exchange awaits approval from Beijing to launch a crude oil contract.
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28 May Plans for new fuel terminal on Israeli coast
New terminal in Ashdod area expected to cost $50-60 million.
In Full
25 May Uruguay avails expected to improve
25 May New player in Russian and Ukrainian markets
Supplier says it will be the first company to offer bunkers in Sevastopol.
In Full
25 May Attica improves but Blue Star stays in the red
Lower fuel costs provide some Q1 result improvements.
In Full
25 May Loading delays at Rotterdam terminal
Bunker players say spot inquiries can't be dealt with until the middle of next week.
In Full
25 May Rotterdam market very quiet
25 May Not future-proofing new ships 'a no-brainer'
Martek Marine believes emissions monitoring on ships will eventually become standard as it rolls out improved system.
In Full
25 May Oil prices set for further hike
Analysts forecast rally above $80 in coming months.
In Full
25 May Work on Chinese-backed Sri Lankan port to begin
$420 million first phase of Hambantota port will include terminals for bunkering and containers.
In Full
25 May Malaysia's bunkering project unable to move forward
There has been no final word on who has the rights to development Johor's petroleum and bunkering facility.
In Full
24 May US Gulf bunker prices stay firm
Little relief for buyers as numbers stay close to record levels.
In Full
24 May Barge fuel spill in Great Lakes
Coast guard responding to marine diesel oil spill following internal fuel transfer.
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24 May Russia faces fuel oil glut
Refiners hope to export more product via St. Petersburg.
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24 May Bunker hedges save operator $5 million
Norden reports highest ever quarterly interim profit.
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24 May Fruit importer hit by bunker price rises
Fyffes forced to cut its 2007 earnings target.
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24 May Statoil manager to leave
International bunkering manager prepares for June departure.
In Full
24 May Fuel oil traders 'watching developments'
Morgan Stanley 'close' to signing lease on floating storage unit in Asian fuel oil market.
In Full
24 May Rotterdam market firms Thursday morning
24 May Singapore: Residual fuel stocks fall
Lower stocks attributed to smaller volume of arbitrage cargo arrivals.
In Full
24 May Lanka IOC to supply bunkers this year
Bunkering operations to start at Trincomalee before expanding to Colombo and Hambantota.
In Full
24 May Aegean buys another double-hull vessel
Aegean adding a 7,000 dwt bunker tanker to its fleet; Q1 bunker volumes up 41%.
In Full
24 May Tightness persists in HK
24 May Report urges OPEC to increase output
Oil output must be raised to avoid crude prices surging to record levels, says energy research group.
In Full
23 May BP scoops port's top honour
Chairman the recipient of award recognising company's environmental efforts.
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23 May Ship main engine fuel rules on agenda
Second workshop to consider new emissions controls ahead of end-2007 approval.
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23 May US oil inventories edge up
But gasoline stocks remain low just as summer driving season is about to begin.
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23 May New 'giant' named in Denmark
Ebba Maersk will be part of series of the world's largest container vessels for Danish owner.
In Full
23 May Tanker company undecided on scrubbers
Avin says 'no decision' has been taken. General manager speaks of 'misunderstanding'.
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23 May Minoan halves Q1 losses
Bunker costs also fell from a year earlier but still close to 40% of operational expenses.
In Full
23 May Beached container shipping still leaking oil
UK authorities say Napoli may be dismantled where it came aground.
In Full
23 May Rotterdam market softens
23 May No end in sight for bullish Korean market
Bunker fuel prices in Busan port surged to record-highs yesterday as supplies remain thin.
In Full
23 May New oil terminals to boost bunkering prospects
Malaysian firm to run new container port and is developing bunkering business in the state of Sabah.
In Full
22 May IMAREX Q1 profits soar as group expands
But growth in bunker fuel oil futures appears to have stalled.
In Full
22 May European fuel oil production slips
Refinery upgrades mean units are producing more higher-value products.
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22 May Triple whammy BAF adjustments for June
Trade conferences continue to pile on bunker-related charges.
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22 May New supplier in action
Bunkers Gibraltar makes six deliveries in three days.
In Full
22 May Fuel leak disrupts festival fun
Yacht incident adds drama during Cannes film festival.
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22 May Owners' group still calling for radical reform
INTERTANKO repeats call for switch to distillates, says alternatives are unconvincing.
In Full
22 May New Regional Manager at DNVPS
Knut-Helge Knutsen takes on new role at Norwegian office.
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22 May Rotterdam market rebounds
22 May Oil spill after ships collide
South Korean Maritime Police say ten decontamination vessels deployed.
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22 May Singapore domestic trade index up
Ship chandlers and bunkering rose over 7% in Q1 year-on year.
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22 May New player in Pakistan's bunker market
Plimsol Bunkering Services will focus on international shipping.
In Full
21 May 25% jump for BAFs
Conference agreement catches up with price gains after months of stable bunker-related charges.
In Full
21 May New South African company in joint venture agreement
US-based Bunkers International says Vunani Bunkers will be a 'great partner'.
In Full
21 May More funds for Vopak growth
Global tanker terminal operator seeks $375 million from institutional investors.
In Full
21 May Norwegian NOx tax encourages technology advances
Savings on NOx tax could recoup cost of the MariNOx ship emissions monitoring system in less than a year.
In Full
21 May Fuel oil markets tighten
Singapore fuel prices steady, but sentiment could turn 'very rapidly'.
In Full
21 May New barge ordered for Argentine market
Double-hulled coastal tanker will supply bunkers in Argentine ports at the River Plate Area.
In Full
21 May Rotterdam market down Monday morning
21 May Investment bank revises oil price forecast
Bank sees prices firming.
In Full
21 May Philippine supplier to extend operation
Bunkerworld now shows prices for the Philippine port of Cagayan de Oro.
In Full
21 May Singapore: New contact details for bunker trader
18 May US prices end week firm
18 May Shipowners go head-to-head over surcharges
Three companies competing over bunker levies, seeing further cost pressures in the future.
In Full
18 May Greece to sue Sea Diamond owners
Meanwhile local authorities have threatened legal action against Merchant Marine Ministry and owners over lacking plans for fuel removal.
In Full
18 May Japan wants stricter sulphur limit
Ministry source says players are being consulted to see how low the limit should go.
In Full
18 May Company to reduce 'risky' bunker trading
Braemar Seascope is reviewing its strategic options.
In Full
18 May Mixed picture for IMAREX fuel oil futures
April figures show year-on-year growth but shrinking volumes compared to December 2006.
In Full
18 May Bunker barge in collision with refinery jetty
UK's largest bunker barge being checked for damage.
In Full
18 May Istanbul market can survive decline in tanker traffic
Crude oil pipelines could make Ceyhan the eastern Mediterranean's biggest oil hub.
In Full
18 May S Korea bunker prices 'too high'
Tight supplies pushing prices to near record-highs.
In Full
18 May Singapore bunker differentials stay weak
Bunker market becomes the main outlet for fuel oil cargoes as Chinese demand weakens.
In Full
17 May Oil jumps on refinery worries
Market surging hard on the heels of yesterday's fall.
In Full
17 May World Fuels Services wins Defense contract
The fixed term deal will run until 2011.
In Full
17 May Rosneft subsidiary gains lubricant plant
Oil and additives plant sold in auction for final remaining Yukos oil assets.
In Full
17 May Matson to levy record fuel surcharge
Second fuel surcharge hike in May, company reporting strong financial results for the quarter.
In Full
17 May Russian fuel oil 'flowing normally'
Railway links between Russia and Estonia's export terminals have been 'unlocked'.
In Full
17 May Singapore: Residual fuel stocks near 10-month high
Reports point to weaker demand from China.
In Full
17 May Singapore: Bunker trading firm moves
17 May Karachi violence disrupts bunkering
Deliveries in the port facing backlog.
In Full
17 May Crude falls on build in US oil stocks
US crude oil and gasoline inventories gain more than expected.
In Full
17 May O.W. in joint venture to supply in Iran
More growth in the Bandar Abbas bunker market.
In Full
16 May New US East Coast bunker barge now operational
Supplier launching new delivery service, seeing potential for market to expand.
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16 May Ports announce joint ship emissions strategy
Targeting cleaner fuels at berth for reducing pollution, incentives likely.
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16 May Tanker company backs scrubbers
Krystallon says tanker owners are turning to scrubbers despite INTERTANKO's doubts.
In Full
16 May Total expands in the Pacific
Total Marine Fuels opens up bunker supply in Fiji after acquiring Shell's local business.
In Full
16 May Wrist Group sold to private equity investors
O.W. Bunker's parent company says deal will 'accelerate global expansion'.
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16 May Owners urged to take bigger role in maritime affairs
Asian shipowners want to influence regulatory changes.
In Full
16 May Rotterdam market continues to soften
16 May Bunker players need to 'lobby regulators'
IBIA repeats calls for residual fuel to remain part of the bunker market.
In Full
16 May Singapore bunkers at discount to cargo
Spot bunker fuel prices pegged at lower values against fuel oil cargo prices for a third week.
In Full
16 May Bangladesh market outlook remains dim
Chittagong's bunker sales volume stagnant as the nation struggles with extreme poverty.
In Full
15 May Bunker prices bearish after record levels
Numbers easing but new highs seen in several ports.
In Full
15 May 'Book early', supplier advises
South American avails tightening in key east-coast ports as supplier telling buyers get orders in.
In Full
15 May New director for Solonita
15 May Greek trader expands Mediterranean presence
Termoil in joint venture with Malta-based shipping agency.
In Full
15 May Crude oil pipeline could stimulate bunker demand
Greek bunker volumes have been falling, bunker forum told.
In Full
15 May IEA: Cleaner fuels equals CO2 penalties
Global energy watchdog warns of market disruptions and CO2 increase if ships switch from fuel oil to distillates.
In Full
15 May Record volumes for Rotterdam's newest price indicator
Argus Media says its Fuel oil Bulletin Board reported 170,000 mt of trade in one day last week.
In Full
15 May Rotterdam market falls Tueday morning
15 May Hong Kong tight on 180 cst material
Traders say tightness could persist until next week.
In Full
15 May OPEC decides against emergency meeting
Oil cartel says the market is 'comfortable'.
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15 May Japanese refiner agrees April bunker price
Retroactive bunker price up by more than $22 per metric tonne.
In Full
14 May US bunker prices ease as oil markets catch their breath
Analyst says there are numerous upside risks in the oil market.
In Full
14 May Strait of Gibraltar bunker market set to grow
Sales of bunker fuel in Algeciras, Ceuta and Gibraltar could reach 10 million metric tonnes by 2015.
In Full
14 May Improved freight rates offset by bunker gains
Q1 market conditions improved for chemical tanker operator, cost increases eat away at possible profit growth.
In Full
14 May ARACON 2007: Final week for delegate prize draw
Share your views for a chance to win free delegate pass to Amsterdam bunker event.
In Full
14 May Fuel quality 'key' to controlling exhaust gases
INTERTANKO Technical Director says switch to distillate fuels is best for the environment and best for shipowners.
In Full
14 May No Q1 take-off for World Fuel Services
Year-on-year profit growth stalled by aviation business despite record performance from marine sector.
In Full
14 May Distillate switch could threaten supply chain
Refiners' representative gives stark warning of what a move away from residual fuel might mean.
In Full
14 May Rotterdam market firms slightly
14 May Singapore April bunker sales jump 18.4% on year
Sales of 380 cst stayed strong at close to two million mt, MPA figures showed.
In Full
14 May China grants more oil import licences
18 more private firms will be able to import crude oil and fuel oil.
In Full
11 May Shore power meeting to consider new California rules
Agenda covering draft regulations and cost effectiveness as agency pushing ahead with new rules.
In Full
11 May Santos avails situation updated
Supply situation easing but prices firming against regional trend.
In Full
11 May UK aims for effective SECA enforcement
Regulation only expected in time for IMO, as opposed to EU deadline for second SECA
In Full
11 May Russian oil shipments via Estonia down by a third
Exports likely to remain limited in May and June but 'main schedule' being cleared.
In Full
11 May Higher bunker sales boost Chemoil earnings
Chemoil's Q1 profits rise 25% on improved efficiency and almost 20% rise in bunker sales.
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11 May Supplies strained in S Korea
Bunker prices to continue firm until next week, traders say.
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11 May New bunker and storage terminal for Suez Canal
Major new supply operation could see Port Said volumes increase six-fold.
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11 May Soft prices fail to stimulate buying interest
Japanese bunker prices expected to dip further.
In Full
10 May US bunker prices mostly steady as fundamentals firm
10 May Buenos Aires avails remain tight
Refinery production and barge repairs playing havoc with supplies.
In Full
10 May Improved oil spill record for 2006
Both salvage cases and volume of oils actually spilled fell last year, bunker spills mostly small.
In Full
10 May Rotterdam barges very tight
10 May Pollution: Try simple solutions first
Bunkerworld Forum hears call for speed reductions as a way of reducing emissions.
In Full
10 May Singapore: Residual fuel stocks at 11-week high
10 May HK watching Yantian competition
The Chinese port of Yantian is emerging as rival to Hong Kong for bunker stems.
In Full
10 May K Line profit dented by fuel costs
Net profit almost 20% down for its financial year ended March 31, 2007.
In Full
09 May Los Angeles prices surge to all-time high
Suppliers grabbing high-priced deals as gap with West Coast and Asian ports widening.
In Full
09 May New Canadian pollution rules close to law
Domestic legislation being implemented to bring local regulations in line with international commitments.
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09 May Oil prices ease on US stock gains
Weekly report shows larger-than-expected builds in crude and gasoline, but huge gasoline deficit remains.
In Full
09 May Port problems could stall country's growth
Erratic bunker supply becomes thorny issue as observers fear slow development of South Africa's ports could put the brakes on economy.
In Full
09 May Cruise ship with scrubber sets sail
Emissions control technology demonstration project could be key to global breakthrough for scrubbers.
In Full
09 May Rotterdam barges tight near term
09 May Japan demand recovering 'too slowly'
Traders note lower-than-usual bonded bunker demand since February.
In Full
09 May Bunker bill saps NYK profit
Net profit falls almost 30% year-on-year on higher bunker costs and weaker freight rates.
In Full
08 May ICS calls for single shore power standard
Shipowners wanting uniform requirements and for ports to work within international conventions.
In Full
08 May New emissions technology test announced
Shore-based scrubber to be tested in Long Beach after successful initial test results.
In Full
08 May UK: Two traders moving on
O.W. Bunker will be looking for new staff to replace outgoing team members.
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08 May Hose manufacturers face price fixing probe
Eight executives arrested as US and EU competition authorities join forces.
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08 May New supplier ready to deliver
Bunkers Gibraltar says 'door is open' for business to start.
In Full
08 May Rotterdam market quiet at midday
08 May Recycling to offer 'robust economics'
Re-refining of waste automotive lubes should offer savings against virgin base oil.
In Full
08 May Fuel oil market to remain ‘tight’
Middle East traders say latest Yanbu cargo is likely to go to Fujairah bunker market.
In Full
08 May Worries over US oil supply shortage ease
Oil prices fall for the sixth consecutive day.
In Full
08 May Taiwan may see decline in bunker sales
Country's state-owned oil company wants to export more fuel oil.
In Full
07 May Ports pass 'green' resolution
Port leaders lining up behind measures to support cleaner air and fight global warming.
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07 May New boost for Emissions Trading
Cross agency report finds emissions trading would work in North Sea and Baltic.
In Full
07 May Nigerian buyers take single-hull tanker
Sources say it will be used as a bunker vessel.
In Full
07 May Russia keeps fuel oil markets guessing
Players tell Bunkerworld that cargo movements through Estonia have slowed.
In Full
07 May ARA barge market down on crude
07 May Singapore market 'firm', but refinery fire not to blame
Players say oil terminal cargo movements behind 'tightening' supplies.
In Full
07 May Bunker costs hit company's results
Indian bulker owner reports lower net earnings in Q1.
In Full
07 May New double-hull bunker tanker for HK fleet
Independent supplier takes delivery of the territory's largest double-hulled bunker tanker.
In Full
04 May Oil falls for fifth straight day
Futures sell-off amid relaxing markets and further declines expected.
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04 May Cruise season underway with low-sulphur fuel
Pacific Northwest cruising starting with cruise lines looking to clean up their emissions.
In Full
04 May Strike threat recedes
Belgian oil sector unions agree provisional deal.
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04 May Upbeat Odfjell
Tanker operator predicts better 2007 result despite rising bunker prices.
In Full
04 May Shipping line plunges 'into the red'
Hanjin shipping blames currency fluctuations and high interest rates.
In Full
04 May Bunker factors weigh down Wilhelmsen
Shipping group reports rise in Q1 bunker hedging costs and sees negative impact on full year results from missing BAF agreement.
In Full
04 May Fujairah refinery 'in new hands'
Vitol confirms that it has acquired 'a majority interest'.
In Full
04 May ARA market: No strike in Antwerp
04 May Markets struggle to gauge impact of refinery fire
Singapore bunker prices fall, but Hong Kong prices surge as ExxonMobil CDU remains shut down.
In Full
04 May German support for 'environmentally sound marine diesel'
German minister opens conference on EU maritime policy with call for ships to move away from heavy grades of oil.
In Full
03 May Further firming for US bunker prices
Houston close to record levels as numbers continuing upward trend.
In Full
03 May Shipowner back under justice spotlight
OSG 'self-reporting' oily-water allegations to US authorities in addition to last year's fine.
In Full
03 May Waste oil re-refinery opening in the UK
Group 1 base oils used in manufacture of lubricants to be extracted from waste oils.
In Full
03 May Fuel oil stocks fall
Singapore residual fuel prices firming. Refinery fire could hit output.
In Full
03 May Sharp increase on the way for oil export duties
Russian oil flows expected to be affected by duty hikes.
In Full
03 May Iranian supply operation 'going well'
25 deliveries have been made, including one 'bunkers only' call.
In Full
03 May Re-routing fuel oil could push up bunker prices
Estonian players predict impact on spot market. Traders warn of widespread repercussions.
In Full
03 May Bunker spill could lead to prosecution
Fuel oil leaks into New Zealand harbour. Initial reports 'under-estimated' size of spill.
In Full
03 May Singapore refinery fire leaves two dead
Two others injured in incident at ExxonMobil's Pulau Ayer Chawan plant on Jurong Island.
In Full
02 May Cruise line predicts higher bunker prices
Royal Caribbean revising cost guidance higher as fuel prices rise.
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02 May 'Dispute' hits fuel oil market
Russian oil firms re-routing fuel oil exports away from Estonia.
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02 May Promotion at Scandinavian Bunkering
Trader steps up to managing role.
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02 May Reform 'unlikely' in South African market
Players hoping to avoid a repeat of last year's shortages as refinery prepares for downtime.
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02 May Lower bunker costs boost Samudera
Asian owner predicts continued pressure on container freight rates and volatile bunker prices.
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02 May No firm plans for bunker removal
Greek authorities have yet to approve strategy for removal of oil from sunken cruise ship.
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02 May Bunker spill in Antarctic could take 'years' to clean up
British delegation to Antartic Treaty talks says January spill was 'wake up' call.
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02 May Industry must exploit 'window of opportunity'
BP Marine's Don Gregory says the chance to influence IMO regulation could soon be gone.
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01 May Falling crude gives some bunker relief
Oil prices down as marine fuel numbers pause from bullish trend.
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01 May Evergreen sees fuel costs fall
But falling container rates dragging down revenue and profit figures.
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01 May Ventrin office moves location
01 May Six sulphur solutions
Only one of the options on the table for IMO's MARPOL Annex VI review not accepting abatement technology.
In Full
01 May Strike still threatening Antwerp market
Talks resume on Wednesday in bid to head off refinery disruption.
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01 May Government reforms to cover whole bunker sector
Nigeria's new licensing regime welcomed: 'It's what we have been clamouring for.'
In Full
01 May Quiet start for Rotterdam barge market