News Archive Nov 2007

30 Nov Houston follows Rotterdam, crude lower
Price drop less dramatic than elsewhere but still room to move.
In Full
30 Nov ARB chair addresses World Bank
Nichols outlining anti-global warming measures amid calls to do more.
In Full
30 Nov EPA reveals US ship emission rules
New EPA rules aim to impose NOx, PM and SOx emission standards on oceangoing ships from 2011.
In Full
30 Nov Crude, bunkers heading for November low
WTI crude below $90 for the first time this month, Rotterdam bunker fuel down $70 pmt from record.
In Full
30 Nov Bunker market report from Praxis
30 Nov IMO's Bunker Convention to enter into force
Convention to enter into force in November 2008, closing significant gap in international regime for oil spill compensation.
In Full
30 Nov Rotterdam market falls drastically
30 Nov Nippon oil suspends Negishi bunker shipments
The refiner plans to increase supply from its Mizushima refinery.
In Full
30 Nov HK shipowners urge refiners to 'put a date' on global distillate supply
Oil refiner Chevron says it is a 'very uncertain period for refineries' at this point in time.
In Full
29 Nov Aircraft used to spot oil slick
Canada laying charges against shipowner after using aerial surveillance.
In Full
29 Nov 'Minimum impact' from Florida spill
Coast Guard downplaying impact of fuel oil pollution as response concluded.
In Full
29 Nov BORCO sale back on
Deal for Freeport oil storage and bunkering terminal could be sealed very soon.
In Full
29 Nov Bunker market report from Praxis
29 Nov Pipeline explosion rocks oil market
WTI shoots up by more than $4 after fatal blast cuts key US crude supply.
In Full
29 Nov Rotterdam market expected to firm further
29 Nov Singapore stocks of residual fuel, distillates up
29 Nov Viswa Lab advocates additional tests
Potentially harmful contaminants are not covered under ISO 8217 specifications.
In Full
29 Nov Singapore bunker prices rebound from month-low
Asian prices still much lower than recent records, particularly in Japan.
In Full
28 Nov Houston prices in free fall
Buyers still lining up as crude's fall causing havoc with bunker numbers.
In Full
28 Nov Confusion over Antarctic bunker spill
Reports differing on fuel composition as clean-up continuing.
In Full
28 Nov Rotterdam fuel oil values fall
End of day trade driven lower with crude.
In Full
28 Nov Crude drops after modest US inventory draws
Weekly DOE report less bullish than expected.
In Full
28 Nov UK climate change bill under fire
UN report says failure to include aviation and shipping could cancel out half of UK's planned greenhouse gas reduction.
In Full
28 Nov Mixed signals for oil prices after big slump Tuesday
OPEC officials downplaying talk of production increase, US data expected to show inventory draws.
In Full
28 Nov Bunker players 'quietly frustrated'
Lack of correlation between price trends and fundamentals making it hard to control costs.
In Full
28 Nov Bunker market report from Praxis
28 Nov EMSA boosts ship pollution response
Seven more contracted vessels will be equipped and ready as pollution response vessels by mid-2008.
In Full
28 Nov Forum to focus on bunkering safety
Current port state control not sufficient to enforce regulations on bunkering activities.
In Full
28 Nov Aegean unveils new bunker tankers
The 4,600 dwt double hull tankers will operate out of Singapore and the UAE.
In Full
27 Nov Houston bunker prices crash
Buyers line up for bargains as suppliers scrub off nearly $30.
In Full
27 Nov Health benefits of clean fuel 'nebulous at best'
Court battle in California shaping up as judge issues dissenting statement.
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27 Nov Mystery fuel oil spill investigated
Coast Guard comparing samples to vessels as clean-up completed.
In Full
27 Nov MISC still to bear brunt of price gains
Malaysian shipper set to be 'fully exposed' to spot bunker prices from January as hedges expire.
In Full
27 Nov China still 'reluctant' to open bunker market
Observers caution that Chinese Government is unlikely to treat marine fuel market as a priority.
In Full
27 Nov Bunker market report from Praxis
27 Nov WTSA to raise fuel surcharges
Bunker surcharges to be added to previously all-inclusive rates: December bunker surcharges up 13%.
In Full
27 Nov Mundra ambition to match Singapore prices
India-based bunker supplier aims to double bunkering volumes in 2008 and further lower duty-free bunker prices.
In Full
27 Nov Terminal operator sees Fujairah as 'oil hub'
More details of plans to grow Vopak Horizon Fujairah terminal.
In Full
27 Nov Rotterdam market stable at midday
27 Nov Singapore: December fuel oil supplies 'balanced'
Heavy supply inflows from Eastern sources will offset below average volumes of Western arbitrage cargoes.
In Full
26 Nov Oil prices ease, for now
Markets expecting lower numbers from possible supply boost, but still bullish.
In Full
26 Nov New marketing manager at Lubmarine
26 Nov Dutch debut for 'environmentally benign' fuel
First ever marine trial underway of a GTL fuel produced by Shell, which the company says could play a part in future fuel solutions.
In Full
26 Nov Singapore bunker market takes Chinese fuel oil surplus
High prices dampen Chinese appetite for residual product.
In Full
26 Nov Bunker market report from Praxis
26 Nov Argentina calls for stricter controls following sinking
Threat to Antarctica's vulnerable environment from cruise ship's bunker fuel.
In Full
26 Nov Rotterdam market stable
26 Nov Fujairah storage set to grow
Terminal operator announces plans for another 1.2 million cubic metres of tank storage space.
In Full
26 Nov Bunker prices heading for 'dramatic correction'
Japan-based bunkering company believes speculative crude oil bubble is due to burst.
In Full
26 Nov Dalian, China: New oil terminal berth
26 Nov Typhoons threaten Philippines
Disruptions to bunker operations expected at Cagayan de Oro.
In Full
23 Nov Pollution fears in Antarctic cruise ship sinking
Regional authorities investigating as vessel standing by with oil-spill equipment.
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23 Nov Ferries exempt from CO2 reduction target
Operator looking to reduce fuel use and emissions but not to government levels.
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23 Nov Rotterdam fuel oil ends week on low
Prices down by over $20 since Wednesday.
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23 Nov Falmouth reaps SECA benefit
Record number of bunker calls at port on the SECA border in October.
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23 Nov Pakistan: Bunker partnership breaks down
Orion Bunkers denies association with new trading company.
In Full
23 Nov Bunker market report from Praxis
23 Nov 'Universal' cylinder oil developed
Total Lubmarine says its lubricant is suitable for use with all engines running on fuel oils, regardless of sulphur content.
In Full
23 Nov Rotterdam market softens
23 Nov Demand thin as Hong Kong holds firm
Traders don't see market easing any time soon though supply should improve next week.
In Full
22 Nov NYK gives cold ironing seal of approval
Testing phase completed and full operations going ahead.
In Full
22 Nov Ship carbon emission index launched
Germanischer Lloyd says CO2 data will encourage development of more efficient ships.
In Full
22 Nov Bunker market report from Praxis
22 Nov Aegean founder eyes $245m windfall
Melisanidis to sell 6.5 million Aegean shares in secondary offering.
In Full
22 Nov Flow meter undergoes sea trials
UK company says commercial trials show flow meter can defeat 'cappuccino effect'.
In Full
22 Nov Rotterdam market quiet
22 Nov Kerch Strait spill could hit fuel oil movements
Russian authorities considering new restrictions on aging river tankers.
In Full
22 Nov Singapore fuel oil inventories at 9 week high
Middle distillate stocks fell from a week ago.
In Full
22 Nov Las Palmas storage project 'back on track'
Talks underway for a single facility to store all fuel types.
In Full
21 Nov Houston holds steady
Prices moving little despite bull run in other ports.
In Full
21 Nov DOE shows unexpected oil inventory draws
Report shows decline in US crude oil imports and stocks, distillates as well.
In Full
21 Nov US Defense Department looking for African bunker suppliers
Purchases will be made using the SEA Card system.
In Full
21 Nov North Sea SECA can be fully enforced
Loophole closes as IMO regulations catch up with European Union rules.
In Full
21 Nov Bunker market report from Praxis
21 Nov Fire at Durban Refinery
Storage tank still burning more than 30 hours after being struck by lightning.
In Full
21 Nov Rotterdam market firm in line with barges
21 Nov Japanese traders eye newbuilds
Seven 6,200 mt bunker tankers being built in China slated for delivery from early next year.
In Full
21 Nov Japanese supply shortage set to ease
Nippon Oil to resume supplies to the bunker market.
In Full
21 Nov Auckland: Tight avails until December
Next replenishment due on December 10.
In Full
20 Nov Fuel prices at 'unprecedented levels'
Shipowner seeing rapid cost rise as end-year guidance released.
In Full
20 Nov Bunker market report from Praxis
20 Nov Rotterdam fuel oil barges close sharply higher
Crude rally pushes prices up during closing trade.
In Full
20 Nov O.W. Bunker orders two new tankers
Company pushing ahead with its growth strategy.
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20 Nov Tankers to get Kerch Strait priority
Russia and Ukraine agree on temporary regulations for ship passage through the Kerch Strait.
In Full
20 Nov Clean-up continues in Kerch Strait
Costs mounting in wake of major fuel oil spill, more than 8,000 tonnes of oily waste recovered.
In Full
20 Nov US worries hit container shipping lines
Share prices dip as concerns grow about a slowdown in the US economy.
In Full
20 Nov ARA market stays firm
20 Nov Singapore: Buyers grab bunkers
Buyers resurfaced after recent bull run ran out of steam.
In Full
20 Nov Storms shut Romanian ports
Another two vessels collide in the Kerch Strait.
In Full
19 Nov OPEC comments keep oil firm
Numbers higher as cartel talks dollar reserves and output increase.
In Full
19 Nov New coating promises fuel savings
Fuel savings of 16% achieved during sea trails on a fishing boat.
In Full
19 Nov Shipping ‘not doing enough’ on emissions
European Commission says International Maritime Organization needs to be ‘much more ambitious'.
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19 Nov Fuel prices 'killer' of fishing industry
Namibian minister recognizes damaging effect of fuel prices as fewer vessels put to sea.
In Full
19 Nov Oil spill in Florida port
Container ship detained while cause of the spill is investigated.
In Full
19 Nov Rotterdam market firm
19 Nov Bunker market report from Praxis
19 Nov US rues lack of fuel tank protection
Rules adopted by the IMO could have prevented San Francisco bunker spill.
In Full
19 Nov Singapore terminal starts trial barge loadings
Bunker barges have been taking on product as Universal Terminal tests its systems.
In Full
19 Nov Shipping lines 'losing money' as bunker costs surge
APL chief executive says freight rates are lagging behind bunker prices.
In Full
19 Nov Bunker bills up 140% in three years
Three cruise companies to charge passengers bunker surcharges.
In Full
16 Nov Week's end brings some price relief
US bunker numbers softening but lower prices may not last.
In Full
16 Nov Age limit to eat into Japan's bunker fleet
29% of current fleet will be over 20 years old in 2012, split opinions on supply of newbuilds.
In Full
16 Nov IMO seeks speedier greenhouse gas action
Mitropoulos to present proposal enabling IMO to accelerate international rulemaking on greenhouse gases from ships.
In Full
16 Nov Bunker market report from Praxis
16 Nov Controversy continues in wake of San Francisco spill
US Coast Guard replaces Bay Area disaster commander amid new accusations of mismanagement.
In Full
16 Nov Rotterdam market quiet
16 Nov Marine interests join forces in 'Green Ship Campaign'
Castrol Marine, EcoPorts, IMarEST and ProSea seeking to 'educate and motivate' marine industry on the issue of oil leaks from ships.
In Full
16 Nov Bunker costs put brakes on CMA CGM ships
The company believes speed reduction could cut costs by as much as 40% and also reduce emissions.
In Full
15 Nov Crude slumps after US stock builds
Rise in imports sees both crude and gasoline stocks rise unexpectedly.
In Full
15 Nov Bunker market report from Praxis
15 Nov Castrol Marine launching 'green' lubricants
Claims to be the first with biodegradable marine lubricants that will also enhance performance.
In Full
15 Nov Tanker operator sees profits fall
Sources say bunkers can account for more than 80% of a tanker's running costs.
In Full
15 Nov Rotterdam market firm
15 Nov New trading company set up in Pakistan
Plimsol Oils to work with local supplier to bring in more business.
In Full
15 Nov Shipping lines act on bunker costs
Fixed bunker surcharges have left ship operators 'hemorrhaging money'.
In Full
15 Nov Singapore fuel oil inventories steady
Middle distillate stocks fell to a five-week low.
In Full
15 Nov UK snubs EU cold-ironing moves
Government determined to protect UK ports and shipping from a 'competitive disadvantage'.
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15 Nov Shipping lines raise bunker tariffs
Shipping lines increase Bunker Adjustment Factor by 24%.
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14 Nov Oil reverses 2-day losing streak
OPEC comments and inventory worries pushing oil back up after heavy losses.
In Full
14 Nov 'Delays' in notifying cleanup contractor
US Coast Guard says ship's crew failed to initiate timely cleanup response following San Francisco bunker spill.
In Full
14 Nov Bunker market report from Praxis
14 Nov Asian bunker prices tumble
'Aggressive offers' in Singapore as players try to make space for fresh supplies.
In Full
14 Nov October bunker sales fall
Singapore players blame high prices. Only 500 cst product sees sales grow.
In Full
14 Nov Rotterdam bunkers drop in line with crude
14 Nov Novorossiysk port re-opens
Port resumes operations after storm, but oil shipments face delays.
In Full
14 Nov EU project to plug LNG as ship fuel
Massive emission reductions on offer for ships running on LNG.
In Full
14 Nov New KPC barge begins service
Second new 5,000 mt barge due to arrive in Kuwait mid-March 2008.
In Full
13 Nov Northwest Ports clean air meeting
Next round of public consultation going ahead this week.
In Full
13 Nov Fuel oil spill 'long expected disaster'
Kerch Strait clean-up delayed by strong winds; damage to fisheries 'too grave to assess'.
In Full
13 Nov Dip in Russian exports
Record export duties may have contributed to reduced fuel oil shipments.
In Full
13 Nov Crude oil prices weakening
Price surge has sapped demand, says International Energy Agency.
In Full
13 Nov Japan: 39% hike in October bunker fuel contract
Benchmark fuel oil price agreement up 9.3% from September as Japan lags behind regional price gains.
In Full
13 Nov Bunker hubs see prices fall
Rotterdam 380 cst prices have dropped $27 per metric tonne in seven days.
In Full
13 Nov Prices down in Rotterdam market
13 Nov Shell shuts Singapore secondary unit
'Routine shutdown' will add to pressures on 'tight' fuel oil market.
In Full
13 Nov Storm shuts Novorossiysk oil terminals
Weather not expected to improve till late Wednesday.
In Full
13 Nov Shanghai opening for Shell
Close cooperation with Chimbusco allows Shell to offer bunker supply in Chinese ports.
In Full
12 Nov WFS earnings down for Q3
Share price following financial results lower.
In Full
12 Nov Environmental group seeks to 'ban' residual bunkers
Industry player says pressure group is using 'emotive language' and 'questionable statistics'.
In Full
12 Nov NYMEX buys into IMAREX
Founding member Frontline selling its entire stake in Norway-based maritime derivatives exchange.
In Full
12 Nov Egypt sells fuel oil parcel to UAE firm
Fujairah product shortages easing as market finds alternative sources.
In Full
12 Nov Bunker market report from Praxis
12 Nov SMP expands Las Palmas product range
Oil major adding more fuel oil grades.
In Full
12 Nov Criminal probe opens into US bunker spill
Entire crew of the container ship held for questioning.
In Full
12 Nov Rotterdam barge bids/offer almost $10 apart this morning
12 Nov Storm halts bunkering in Istanbul
Port operations disrupted, barges and ships cannot move.
In Full
12 Nov 'Half' marine oil pollution comes from land-based sources
Shipping contributes only 25% of oil pollution, says advisor.
In Full
12 Nov Storm carnage leaves major fuel oil spill
Fuel oil leaking from tanker as ships get caught out by Black Sea storm.
In Full
09 Nov Calls for more scrubber research
Industry saying that the jury is still out on the benefits of scrubbing.
In Full
09 Nov Office move for Turkish supplier
09 Nov Marine sector to outpace global energy growth
Transport fuels will underpin global oil demand growth to 2030 says ExxonMobil. CO2 emissions could rise by a third.
In Full
09 Nov New barge delivery service in Brazil
Bunker barge will supply ships at Suape Container Terminal.
In Full
09 Nov Rotterdam flood defence withstands surge
Worst over after North Sea storm shuts down oil fields, closes link between Rotterdam and the sea.
In Full
09 Nov Bunker market report from Praxis
09 Nov Petrobras builds on LSFO supply capacity
New Rotterdam operation already seeing bigger LSFO turnover than Singapore.
In Full
09 Nov Coast Guard 'failed' to appreciate extent of bunker spill
San Francisco facing worst oil spill for almost 20 years.
In Full
09 Nov Rotterdam market easing
09 Nov ExxonMobil sells cargo into Singapore
90,000 mt of fuel oil parcel slated for Singapore from the Red Sea port of Yanbu.
In Full
09 Nov OPEC blames speculation for oil rally
Oil cartel calls for a tighter regulation of oil markets.
In Full
08 Nov Carnival adds 'fuel supplement'
Additional passenger charge implemented in face of rising fuel costs.
In Full
08 Nov Middle East tanker operators under pressure
Bunker prices climb while rates remain flat. Top Tankers reports Q3 losses.
In Full
08 Nov Bunker spill sends fumes into city
Container ship clips bridge in San Francisco Bay, spilling some 220 tonnes of fuel.
In Full
08 Nov Rotterdam bunker numbers still near $500
08 Nov Bunker market report from Praxis
08 Nov Blending system upgrade
Jiskoot says new blend controller is ideal for bunker operations.
In Full
08 Nov Japanese spot market runs dry
Contract customers use up bunker product as refiner cuts fuel oil deliveries.
In Full
08 Nov Chinese shipowners to pay for oil spills
China revises rules applying to major Chinese shipowners and operators.
In Full
08 Nov Ship emissions 'are harming' the oceans
Airborne pollutants from ships' exhaust gases are triggering rainfall over shipping lanes, a scientist warns.
In Full
07 Nov Houston yet to clear $500 bar
US Gulf port refusing to follow other major markets to record-setting levels.
In Full
07 Nov Ship emissions 'cause 60,000 premature deaths' a year
Report says death toll could rise 40% in the next five years unless action is taken on sulphur.
In Full
07 Nov DOE report less bullish than forecasts
US crude oil stocks fell less than expected and distillates see modest build.
In Full
07 Nov Bunker market report from Praxis
07 Nov ARA bunkers top $500 as $100 crude looms
Shipowners 'taking the hit' after waiting in vain for oil prices to ease.
In Full
07 Nov Chemoil 'robust' despite Q3 losses
Bunker supplier reports higher sales volumes in Panama, New York and Houston.
In Full
07 Nov Singapore: Stocks of residual fuel drop
Middle distillate stocks jump to five-week high.
In Full
07 Nov Bunkerworld launches groundbreaking new service
New service helps industry players manage credit risks and exposure in volatile bunker markets.
In Full
07 Nov Aegean gets $300 million credit facility
New credit facility underwritten by two banks expected to last one year.
In Full
07 Nov Protestors lift blockade of French ports
But fishermen still campaigning for help with rising fuel costs.
In Full
07 Nov Aegean net income slips
Higher operational costs cause Q3 net income to fall, but bunker sales volume up 38% on year.
In Full
06 Nov Shipowner saves money on 500 cst
Houston buyer taking discount product as prices continuing to firm.
In Full
06 Nov New bunker trader formed
UK-registered company focusing on global operations.
In Full
06 Nov Crude oil touches $97 in nervous market
$100 'within sight' as oil reaches new record, but 'not for long' say analysts.
In Full
06 Nov Derivatives hit Chemoil's Q3
Losses due to derivatives contracts pushing balance sheets into the red.
In Full
06 Nov Fuel oil futures further marginalized
IMAREX reports solid October trading figures, but bunker fuel oil derivative volumes plummet.
In Full
06 Nov Numbers continue to rise in Rotterdam
06 Nov OceanConnect expands into Japan
New branch office to cover bunkering business in Japan.
In Full
06 Nov Mumbai starts duty-free bunker sales
Indian-based bunker supplier quoting bonded 380 cst prices on a daily basis.
In Full
06 Nov Indian bunker firms look abroad
High taxes and poor infrastructure at home have pushed Indian firms to venture overseas.
In Full
05 Nov Maersk launches service to lower carbon emissions
Initiative focusing on reducing carbon footprint in global supply chains.
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05 Nov Tech company to showcase fuel savings
CEO speaking to international gathering on monitoring technologies.
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05 Nov Pressure grows to revise bunker surcharges
TSA chairman says viability of some ocean carriers are at risk from 'far too volatile' fuel prices.
In Full
05 Nov Bunker market report from Praxis
05 Nov Fuel oil exports resuming from Ras Tanura
Fujairah bunker market expected to soak up 180 cst material offered for late November loading.
In Full
05 Nov Manager leaves Kangaroo Bunkers
05 Nov VLCC received at Singapore's Universal Terminal
Asia's biggest privately owned terminal claims successful incoming cargo trial, test deliveries scheduled.
In Full
05 Nov Rotterdam market firming
05 Nov Asia-Australia lines raise bunker surcharges
Carriers revising surcharge this month on high bunker prices.
In Full
05 Nov Prestige Marine builds seven bunker tankers
Singapore supplier, marking 21st anniversary, expects its first 6,300 dwt double-hull tanker next year.
In Full
02 Nov US bunkers firm further to end week
02 Nov Foss goes ultra low
Further emissions reductions as company switching to cleaner fuels.
In Full
02 Nov 'No changes' in Lukoil/Burando partnership
Companies highlight that Chemoil's acquisition of stake in Burando has no impact on control of terminal.
In Full
02 Nov Bunker market report from Praxis
02 Nov Future of Pakistani bunker player in doubt
Business associate announces departure from recently established bunkering company.
In Full
02 Nov Record oil price still below 'real' highs
Adjusted for inflation, recent record oil prices are not historical high.
In Full
02 Nov Rotterdam market remains firm
02 Nov Raise output to prove reserve, EU tells OPEC
EU Energy Commissioner says OPEC would be making the 'right decision' if it raises output.
In Full
02 Nov Slowing demand worries Singapore suppliers
Bunker sales have taken a blow as 380 cst prices surged past $500 pmt.
In Full
01 Nov 'Crazy' prices as Singapore bunkers top $500
Markets surging to new highs yet again but buyers watching crude prices.
In Full
01 Nov Bunker market report from Praxis
01 Nov Fuel removal begins on capsized freighter
Plan to straighten vessel only after emptying fuel tanks.
In Full
01 Nov Aegean acquires Portland bunkering station
Plans to deploy two bunkering vessels and offer low sulphur marine fuels as it gains UK presence.
In Full
01 Nov Wilh. Wilhelmsen reports profitable Q3
Hedging helped Wilh. Wilhelmsen secure net profit as opposed to net loss in 2006.
In Full
01 Nov Bunker sales manager moving on
01 Nov Rotterdam market firm in line with crude
01 Nov Singapore: Fuel oil stocks soar by 15%
High bunker prices have slowed demand for bunker fuel, leading to a build in inventories.
In Full
01 Nov Sri Lanka, China in financial pact for Hambantota
China promises to promptly provide funds to back the Hambantota port project.
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01 Nov Chemoil, JPMorgan form derivatives alliance
Alliance will give Chemoil's customers access to JPMorgan's hedging tools.
In Full
01 Nov Indonesia terminal expects first cargo by late-2008
Work on Oiltanking Group's $120 million project has been underway.
In Full