News Archive Oct 2006

31 Oct Tank leak hits Montreal bunker avails
Two-month repair effort keeping supplier out of market as other players seeking to fill gap.
In Full
31 Oct Slower ships reduce pollution, port says
Compliance rate for Long Beach's speed reduction plan nearly 90%, improving air quality.
In Full
31 Oct 'Soft launch' for DGCX fuel oil contract
Five lots traded in early hours of first trading day.
In Full
31 Oct Stern Review: Extend carbon pricing to shipping
Report demonstrates shipping's small share of global emissions, but nevertheless calls for its carbon footprint to be addressed.
In Full
31 Oct No Q3 relief for Samudera
Asian shipping company reports 80% Q3 profit fall, citing high fuel costs and rate pressure.
In Full
31 Oct ARA market steadies after morning dip
31 Oct Emissions debate heats up amid talk of new 'green taxes'
Discussions on green taxes as Stern Review warns of dire economic consequences of global warming, triggers debate both supporting and attacking shipping.
In Full
30 Oct Total Oil Asia shifts location
30 Oct German engine maker sees sales rise
Production of new low-emissions engines running at maximum capacity.
In Full
30 Oct Ecuador holiday Thursday, Friday
30 Oct Mixed market sentiment as DGCX launches Fujairah fuel oil contract
Analysts cautiously positive as trade opens in the Middle East's first homegrown energy futures.
In Full
30 Oct Castrol Marine launches new used oil analysis service
Preventative maintenance 'the way forward' as maintenance costs rise and equipment efficiency becomes increasingly important.
In Full
30 Oct Mombasa: Bunker operations subject to new port charges
Current tariffs, which have been in force since 1995, are set to rise from April 2007.
In Full
30 Oct Fuel costs continue to dent Q3 profits
Matson says rise in revenue was 'more than offset' by lower rates and higher costs.
In Full
30 Oct Quiet start in Rotterdam with no barge market offers
30 Oct Cape Town barge to be withdrawn for survey
South African bunker fleet well ahead with barge renewal programme.
In Full
27 Oct Busy trading finishes Houston's week
Suppliers reporting a busy day and crude prices back on the rollercoaster.
In Full
27 Oct Chevron announces bumper profit
Earnings receiving big boost from US retail sales.
In Full
27 Oct Moldova opens Danube oil terminal
New oil terminal will give Moldova its first link to international shipping.
In Full
27 Oct Bunker barge buying spree continues at Aegean
Contract for seven new double-hull products tankers brings newbuilding total to 37.
In Full
27 Oct Bunkers to come off grounded ship
Salvors abandon refloat plans for containership stranded off the French Atlantic coast.
In Full
27 Oct New Far East service from Bunker Holdings
Marine fuels service launched at Kamchatka Peninsula in the Sea of Okhotsk.
In Full
27 Oct Hedging contracts hit shipping company's profits
Wilh. Wilhelmsen posts worse than expected Q3 results as hedging contracts lose their value.
In Full
27 Oct ARA market pushed lower with crude
27 Oct Swift action contains oil spill
Bunker fuel spills into the sea at Hidd, oil spill procedures swiftly activated.
In Full
27 Oct Singapore moves to tighten control of bunker supply chain
New clause to bunker standard seeks to improve bunker supplier and cargo provider relations, but players question whether it goes far enough.
In Full
26 Oct US East Coast avails tighten
Resupply delays seeing firming prices as suppliers adjust numbers upwards.
In Full
26 Oct Oil majors' profits swoop and soar
Exxon posting record returns, while Shell feeling pinch of lost production, and BP strong despite refining issues.
In Full
26 Oct Shipowners facing multiple risks in fuel purchasing
Experienced US-based brokers set tone for Bunkerworld's New York forum with critique of new bunker landscape.
In Full
26 Oct IBIA speaks out against 'simplistic' IMO proposal
IBIA sides with ICS on multifaceted shipping emissions approach, objecting to INTERTANKO's radical distillate proposal.
In Full
26 Oct ICS pleads for workable MARPOL Annex VI revisions
Submission to IMO says reducing emissions from ships will require range of achievable measures, including SECAs and proven abatement technology.
In Full
26 Oct Prompt supply at discount in ARA market
26 Oct Singapore: Residual fuel stocks below 10 million barrels
Stocks of residual fuels at lowest levels since December 2005, middle distillates up.
In Full
26 Oct SPC posts 78% drop in net profit
Profit falls on weak refining margins and crude oil prices.
In Full
26 Oct Titan opens new multi-million oil terminal in China
Nansha oil storage terminal is the largest independent facility in southern China, costing more than $250 million.
In Full
25 Oct Port confirms Clean Air timetable
California ports shaking off criticism as emissions controls poised for approval.
In Full
25 Oct Aegean deal under scrutiny in Jamaica
Supplier caught up in opposition call for investigation into government contract deal.
In Full
25 Oct Law firm warns on fuel disputes
High bunker prices tends to fuel more disputes and arrest for unpaid bills, law firm observes.
In Full
25 Oct Charterers wary of bunker quality disputes
Charter parties note increase in shipowner claims relating to bunker quality.
In Full
25 Oct Funding approved for Solar I oil removal
IOPC set to give formal approval on Friday to fund operation to pump out bunker fuel onboard sunken tanker.
In Full
25 Oct Rotterdam market firms
25 Oct Hong Kong bunker market upbeat despite avails constraints
Acute supply shortages occur periodically due to repeated delays in cargo arrivals, insufficient storage capacity.
In Full
25 Oct Fuel-laden tanker runs aground
The Philippine Coast Guard sends divers to conduct underwater inspection.
In Full
24 Oct Supplier grabs Houston business
Quiet trading in US Gulf despite softening prices but one supplier taking a substantial chunk of the action.
In Full
24 Oct California ports clean air plan due for release next week
Far-reaching provisions attracting criticism as ports prepare final draft for release and approval.
In Full
24 Oct South Africa to get new bunker barge operator
Two brand new double-hulled barges to boost South African firm's bunkering profile.
In Full
24 Oct JV invests in Grimsby bunkering facility
Significant investment made to provide new bunkering facility at UK fishing port.
In Full
24 Oct Rotterdam market stable Tuesday morning
24 Oct Hong Kong bunker firm on the move
24 Oct Japan: Bonded stocks strong on weak demand
Bonded bunker stocks to remain high despite Saudi Arabia cutting oil shipments to Japan.
In Full
24 Oct Doubts cast over OPEC cuts
Analysts think OPEC will struggle to fulfill the 1.2 million bpd cut.
In Full
23 Oct Cruise line predicts flat fuel prices
Carnival putting in its prediction for fuel prices over the remainder of the year.
In Full
23 Oct Plymouth service launched by FOS
Bunker supplier and terminal operator to look for more UK and Ireland fuel supply locations.
In Full
23 Oct Further Black Sea expansion for Transbunker
Bunkering operations just launched in the Port Kavkaz and Kerch strait areas.
In Full
23 Oct ARA market decreases with crude/barge prices
23 Oct Secured sample bottles can eliminate tampering
Fuel-testing companies advise on tamper-proofed sample bottles, complementing Singapore's CP 60.
In Full
23 Oct South Korea: Demand soft despite competitive prices
Price of 380 cst in Busan holds competitive edge over East Asian ports.
In Full
23 Oct Shipping lines lower bunker surcharges
Two key carriers in the Puerto Rico trades to cut fuel surcharges from November.
In Full
20 Oct Prices mostly softer despite OPEC production cut
Bunker prices falling with crude in most US markets, except the East Coast.
In Full
20 Oct IMO says shipping must do more to reduce harmful emissions
Experts call for standard SECA Compliance Certificate.
In Full
20 Oct Double-hull tanker purchased by FAL Group
Major fleet upgrade continues for UAE supplier.
In Full
20 Oct Rotterdam market stable, crude up
20 Oct Singapore: First cargo enters Horizon Terminal
New oil terminal receives its first fuel oil cargo on Friday.
In Full
20 Oct OPEC decides to cut output by 1.2 million bpd
Oil output will reduce to 26.3 million bpd from November 2006.
In Full
19 Oct Ships added to Asia-Europe services to save fuel costs
Grand Alliance and CMA CGM cutting delays and allowing vessels to slow down to reduce bunker bills.
In Full
19 Oct Panama to table bunker market reforms
Bunker cluster industry group considering consultant's report.
In Full
19 Oct Physical supplier close to Gibraltar start-up
Bunkers (Gibraltar) Ltd will be first to offer 500 cst product in Gibraltar hub.
In Full
19 Oct Fujairah fuel oil futures contract ready for launch in less than two weeks
Dubai Gold and Commodities Exchange looking to win energy sector's support.
In Full
19 Oct ARA market stable Thursday morning
19 Oct Singapore: Stocks of residual fuels, middle distillates down
19 Oct INTERTANKO proposes revisions on Annex VI
Association hoping to achieve positive and long-term air emissions reductions.
In Full
19 Oct OPEC supplies to fall, global oil demand to rise
OPEC supplies to fall this year despite a rise in global oil demand, an official US forecast said.
In Full
18 Oct Bunkering resumes after Mexican tanker explosion
Supplier advising a return to normal after incident disrupts port, causing six fatalities.
In Full
18 Oct Argentina supplier welcomes new barge
Launching ceremony tomorrow and locally-built vessel heading for up-river ports.
In Full
18 Oct Supplier claims Black Sea port no longer an open market
“Ecological regulations” stifling competition between bunker players in Novorossiysk.
In Full
18 Oct Rotterdam market decreases with crude
18 Oct Accurate ETA crucial to cutting waiting times for bunker stems
A one hour delay can cost up to $1,000 say Singapore shipbrokers.
In Full
18 Oct Bunkers to be removed from grounded tanker
About 70 mt of bunker fuel remains onboard grounded bunker tanker near Karachi Port.
In Full
18 Oct Matson lowers bunker fuel surcharge
US-based company will lower surcharge by 1% from November.
In Full
17 Oct Three-day wait for IFO grades in Santos
Brazilian avails generally good except for key port as price competition intensifying.
In Full
17 Oct Gasoline tanker explosion closes Mexican bunkering
Port operations affected but extent of damage not clear as conflicting reports emerging.
In Full
17 Oct Simulated Arctic oil spills planned
Oil companies sponsoring research project as concern growing over increasing Russian crude exports.
In Full
17 Oct O.W. Bunker welcomes new trader to worldwide office
17 Oct ARA market remains firm
17 Oct Siphoning of bunkers rescheduled to early-2007
The typhoon season has delayed siphoning of bunkers from sunken tanker.
In Full
17 Oct Hong Kong prices slip into uncompetitive territory
Bunker prices in Thailand and South Korea hold competitive edge over Hong Kong.
In Full
17 Oct Weak oil prices to persist, OPEC says
Oil cartel forecasts lower oil demand in fourth quarter this year.
In Full
16 Oct Bunker prices poised to rise
Crude firming but still below $60 as markets remaining nervous over OPEC meeting.
In Full
16 Oct ConocoPhillips pays fine for spill
Company not admitting liability for 2004 spill but may have to pay for clean-up.
In Full
16 Oct New floating storage for Gibraltar
Bunker suppliers expanding operations with additional tankers.
In Full
16 Oct New traders for A/S Dan-Bunkering
16 Oct ARA market firms on higher crude
16 Oct Singapore: Prices firm, prompt avails tight
Higher crude pulling up bunker prices, supplies healthy in Hong Kong and South Korea.
In Full
16 Oct Singapore: Jan-Sep bunker sales exceed 20 million mt
September bunker sales down 4.3% from month-ago levels, up 12.8% year-on-year.
In Full
13 Oct PDVSA weekend contact
13 Oct KiteShip flying high with wind power technology
Fuel savings of 20% expected as company planning launch of next-generation system.
In Full
13 Oct New supply options in Turkey
Trader making shift to physical supplier in two key ports.
In Full
13 Oct IBIA accepts local initiatives can 'be enormously beneficial'
Secretary General saying IMO remarks must be seen in context.
In Full
13 Oct Jamaica closed Monday
13 Oct Annex VI has changed bunker industry for the better
Shipping companies and suppliers have proved that new regulations can work, says industry expert.
In Full
13 Oct Global warming will make Arctic passage a reality
"Supreme irony" is that savings in bunker usage could help slow climate change.
In Full
13 Oct Global bunkering standard gathers momentum
Working group discusses conversion of Singapore standard for bunkering to ISO standard.
In Full
13 Oct Shanghai Petroleum Exchange to extend spot trading hours
Extended spot trading hours to take effect next week.
In Full
13 Oct Bunker fuel removal could cost $12 million
An international body strongly urges the removal of remaining bunker fuel from sunken Solar I.
In Full
12 Oct Quiet trading sees little price movement
Bunker prices in US markets settling down as crude lifts slightly after yesterday's low.
In Full
12 Oct Long Beach port emissions now online
California port pollutant monitoring scheme up-and-running.
In Full
12 Oct New Zealand's High Court upholds bunker spill fine
Failure to slow pumping rate was an 'aggravating circumstance'.
In Full
12 Oct Bunker project still mired in discussions over tax
Indian port sees cargo throughput leap, but bunker facility must wait for decision on VAT
In Full
12 Oct Rotterdam market firms, suppliers committed until Tuesday
12 Oct Taiwan's bunker market opening to more competition
New supplier expects Kaohsiung licence soon
In Full
12 Oct Singapore: Stocks of residual fuels above 13 million barrels
Stocks of middle distillates also up from week-ago levels.
In Full
12 Oct Hong Kong SECA needs support from regional countries
Hong Kong officials and China's Maritime Safety Administration will likely discuss a Hong Kong SECA next week.
In Full
12 Oct Singapore suppliers back regulation through local initiatives
IBIA official's call for global regulations sparks reaction from Singapore players.
In Full
11 Oct PDVSA office closed tomorrow
11 Oct Bunker tanker aground off Malta
Refloating effort focusing on avoiding possible fuel spill.
In Full
11 Oct New blow for hopes of a Hong Kong SECA
A Chinese official says it would be "impractical" to have a sulphur emissions control area
In Full
11 Oct $Singapore\\\\\\\'s Jurong Island, the site of the Horizon Terminal$ Fuel oil cargo heads to new Singapore terminal this month
SK Corp starts stock-building sooner than expected, but bunker deliveries must wait for jetties.
In Full
11 Oct Singapore gas oil cargoes bound for South Africa
A total of about 100,000 tonnes of gas oil are destined for South Africa from Singapore.
In Full
11 Oct Singapore bunker players agree on Q4 bunker premiums
Q4 premiums over MOPS 380 cst assessments for term cargoes largely similar to Q3.
In Full
11 Oct Japan: September retroactive bunker price down
NYK, Nippon Oil agree to cut retroactive bunker price on softer crude and weak bunker demand.
In Full
11 Oct TACA to reduce bunker surcharges
Lower BAF tariffs before implementation based upon latest monitoring of fuel prices.
In Full
11 Oct Buyers warned to debunker with caution
Global testing agency warns of ancillary costs associated with debunkering, and cautions buyers to take testing tolerance limits into account with off-spec fuels.
In Full
11 Oct Singapore supplier moves office
10 Oct Bunkers up, crude down
US markets diverging as marine fuel firms while oil markets reverse course yet again.
In Full
10 Oct KiteShip scoops tech award
Wind power company receiving recognition and exposure for its 'clean technology'.
In Full
10 Oct Mitsui to salvage bunker fuel
Salvage team standing by after break up of ore carrier leading to spill off Japan.
In Full
10 Oct Norwegian oil port carves out solid LSFO sales
For what is effectively a SECA periphery port, Mongstad has an unusually high share of LSFO sales.
In Full
10 Oct Rotterdam market firming, delays in loading
10 Oct Chemoil presses ahead for more storage capacity in Singapore
Addition of new bunkering terminal will bring Chemoil's total storage capacity to 465,000 m³.
In Full
10 Oct Hong Kong faces delay in ratifying MARPOL Annex VI
Despite the delay, the local bunker market has been supplying fuels well within sulphur limits.
In Full
10 Oct Western fuel oil imports into Asia fall
Fuel oil imports into East Asia in October down by 36.8% from September.
In Full
09 Oct Oil markets snub North Korean nuclear test
Traders following OPEC production cut threat closely but ignoring latest international nuclear development.
In Full
09 Oct Fuel feared lost in capesize sinking
Ore carrier breaking up off Japan as fierce seas hampering crew rescue and salvage efforts.
In Full
09 Oct Disagreement over Vancouver spill clean up
Tests show high levels of remaining toxicity and shipowner contesting spill management programme.
In Full
09 Oct New crude contract for NYMEX
Exchange continues expansion following Singapore bunker contract launch.
In Full
09 Oct EU marine sulphur directive non-compliance rife
There appear to be few new converts to the 1.5% sulphur limit applicable to passenger vessels in the EU.
In Full
09 Oct ARA market firming again
09 Oct Independent suppliers await 500 cst ex-wharf availability
Priority on supplies of 500 cst given to ExxonMobil's international customers in Hong Kong.
In Full
09 Oct Bunker tanker capsizes with fuel oil onboard
Bunker tanker capsizes near Karachi Port carrying 70 mt of fuel oil.
In Full
06 Oct US markets 'up and down', close quiet
Limited enquiries today with some firming despite falling crude.
In Full
06 Oct LSFO market share indicates good SECA compliance
Some suppliers have simply stopped selling HSFO altogether, with no apparent loss of volume.
In Full
06 Oct Aegean confirms lawsuit is pending
Supplier faces claims it should pay 'commission' on its Jamaican operation.
In Full
06 Oct Court sits this month to decide liability for Odessa bunker spill
Ship operator has already provided $32 million in guarantees.
In Full
06 Oct Rotterdam market stable Friday morning
06 Oct Two double-hulled tankers by December, Singapore supplier says
Minor technical faults have delayed the operation of new bunker tankers.
In Full
06 Oct Japan: Tight prompt supplies, prices steady
Refinery maintenance to end in November, market outlook remains unclear.
In Full
05 Oct Ecuador suppliers take holiday
Offices closing but prices remaining competitive this week.
In Full
05 Oct Maersk touts distillate fuel use for entire California fleet
'Significant' emissions reductions from switching to low-sulphur fuels.
In Full
05 Oct Manufacturers join forces to develop low-emission marine engine
Principal aim to improve efficiency of marine diesel propulsion systems by more than 60%.
In Full
05 Oct Leading players in tanker market buy stake in Aegean
Reports say bunker supplier may relaunch its IPO.
In Full
05 Oct INTERTANKO stuns Bunker Forum with IMO proposal
INTERTANKO thinks the end of fuel oil is nigh, but a proposal for a global SECA based on marine distillates by 2010 meets with disbelief.
In Full
05 Oct Maersk Line's anti-pollution move 'exceeds projections'
Container giant says it is sending a message: "We are committed to making a difference".
In Full
05 Oct Singapore: Stocks of residual fuels at 17-week low
Stocks of middle distillates recover from an 11-week low last week.
In Full
05 Oct OPEC agrees to cut production
Informal agreement to reduce oil output by one million bpd, report says.
In Full
05 Oct Remaining bunker fuel to be removed in December
Leaking bunker fuel from Solar I continues to pose a threat to the environment.
In Full
04 Oct INTERTANKO may abandon fuel oil bunkers
Tanker group recommends switch to distillate fuel, costing $50 billion.
In Full
04 Oct New FAMM team signals renewed market focus
Focus is on quality rather than price as new business model implemented in US Gulf.
In Full
04 Oct Bunker supplies recovering in South Africa
Richards Bay has product but demand remaining low with no enquiries.
In Full
04 Oct Glander welcomes new broker
04 Oct Chemoil to continue exploring opportunities
Price was too high from investors' point of view, stockbroker saying.
In Full
04 Oct OPEC believes oil market is oversupplied
Oil prices down more than $2 in New York last night.
In Full
03 Oct Bunker prices post new lows
Bearish oil dragging US values down to year-old records.
In Full
03 Oct Hull coating saves on fuel costs
Shipowner reporting big savings will silicone-based 'skin' for container vessels.
In Full
03 Oct Chemoil withdraws Singapore IPO
Company blames "considerations relating to valuation". Market sources talk of weak investor demand.
In Full
03 Oct J. Lauritzen: Keep emissions issues global
CEO of J. Lauritzen says shipping is the only globally sustainable mode of transport, but is misunderstood and subject to fragmented regulations.
In Full
03 Oct Testing to flow faster with new automated viscometer
Breakthrough for quicker marine fuel testing with approval of new viscosity test method.
In Full
03 Oct New appointment signals growth for Addax
"ABS is not only willing to extend further its activity in Africa, but also in different new locations by using all possible internal supports and synergies of the group trading activity."
In Full
03 Oct Rotterdam market falls with crude/barges
03 Oct Singapore: New terminal ready for first fuel oil cargo soon
Horizon Terminal is set to receive its first fuel oil cargo next month.
In Full
03 Oct Singapore: Underground oil storage opens tender
Tender to help manage the first phase of the project will close on October 20.
In Full
02 Oct Oil prices down despite talk of OPEC production cut
Falling numbers in the US although markets hearing more talk of producers considering tightening taps.
In Full
02 Oct Call for new 'super' bunker fuel
Testing agency suggesting improved ship engine standards and new fuel specifications.
In Full
02 Oct Petroplus sells bunkering division
Dutch tycoon and three bunker companies' management agree buyout from changing firm.
In Full
02 Oct ARA market stable, tight on prompt deliveries
02 Oct Slow start to NYMEX bunker futures
First week into the launch of the new trading platform, no contracts were recorded.
In Full
02 Oct Two OPEC members to cut output
Nigeria and Venezuela will cut output from October 1.
In Full
02 Oct Adoption of ISO 8217:2005 slow among owners
Survey shows less than 60% of shipowners/charterers adopt revised bunker standard under ISO 8217:2005.
In Full
02 Oct Japan: August marine fuel sales down year-on-year
02 Oct MPA reveals Singapore bunker sales tabulation
The official Singapore bunker statistics are derived from an on-line declaration system called Marinet.
In Full