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14-10-2016

Singapore Bunker Sales Mostly Flat for September 2016 [GRAPH]

Data provided by Maritime and Port Authority of Singapore (MPA) Singapore bunker sales for September 2016 were mostly flat year-on-year at 3,831,000 metric tonnes (mt) for all products, according to the latest preliminary data from the Maritime and Port Authority of Singapore (MPA). However, as in 2015 sales dropped sharply compared to the previous month, down 9.4 percent over the August 2016 total of 4,228,000 mt to make it only the secon
14-10-2016

3 Mins Daily Market Report

International oil prices dipped on Friday over doubts that a planned cut in crude production could be achieved on a scale sufficient to rebalance a market that has been oversupplied for two years. International Brent crude oil futures were trading at $51.85 per barrel at 0050 GMT, down 18 cents, or 0.35 percent, from their previous close. Traders said the dip was a result of skepticism that a planned oil output cut by the Organization of the Petroleum Exporting Countries (OPEC) and potenti
13-10-2016

South Korean Authorities Working to Minimise Bunker Supply Disruptions Alongside Strike

South Korea’s Ministry of Oceans and Fisheries (MOF) says authorities are working to minimise bunker supply disruptions resulting from a bunker tanker operator strike at the ports of Busan, Ulsan, and Yeosu, which have been runn
13-10-2016

3 Mins Daily Market Report

Oil prices fell early on Thursday after OPEC said that its production had risen to its highest level in at least eight years and following reports of an increase in U.S. crude stockpiles. International Brent crude oil futures were trading at $51.52 per barrel at 0016 GMT, down 29 cents, or 0.6 percent, from their previous close. U.S. West Texas Intermediate (WTI) crude futures were down 34 cents, or 0.7 percent, at $49.84 per barrel. Traders said oil markets had come under pressure afte
12-10-2016

Russia's Vow To Join Output Caps Comes Amidst Iraq Urging Production Boost

Vladimir Putin has called on other nations to restrict their production. In w
12-10-2016

3 Mins Daily Market Report

Crude futures inched up on Wednesday, with investors waiting for talks between OPEC producers and other oil exporters on curbing output to end a glut in the global market. Brent crude was up 9 cents at $52.50 a barrel at 0012 GMT. It fell 73 cents, or 1.4 percent, to close at $52.41 a barrel on Tuesday, retreating from a one-year high of $53.73 hit on Monday. U.S. West Texas Intermediate (WTI) crude had gained 3 cents to $50.82 a barrel. It dropped 56 cents, or 1 percent, to settle the pre
11-10-2016

Market Sources: Demand Boost Puts Pressure on Avails at St Petersburg

Increased demand at St Petersburg is said to have tightened avails and provided support to prices.
11-10-2016

3 Mins Daily Market Report

Oil prices edged down early on Tuesday but held near one-year highs touched on growing expectations of an output cut by OPEC producers, and traders said the price outlook remains bullish as confidence in crude markets rises. Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year high, after Russia said it was ready to join the Organization of the Petroleum Exporting Countries (OPEC) in curbing crude output. International Brent crude oil futures were trading at $53.
10-10-2016

U.S. East Coast Bunker Operations Brace for Hurricane Matthew

Bunker operations at U.S. East Coast ports Thursday were bracing for the arrival of Hurricane Matthew.
10-10-2016

MPA Tests New Oil Spill Clean Up Procedure

A multi-agency joint oil spill exercise was held Friday in Singapore. The Mar
10-10-2016

3 Mins Daily Market Report

Oil prices fell more than 1 percent in early trading on Monday over doubts that an OPEC-led plan to cut output to rein in a global fuel supply overhang would be supported by other producers, including Russia. International Brent crude oil futures were trading at $51.34 per barrel at 0001 GMT, down 0.59 cents, or 1.1 percent, from their last settlement. U.S. West Texas Intermediate (WTI) crude futures were down 57 cents, or 1.1 percent, at $49.24 a barrel. ANZ bank said that prices were
07-10-2016

3 Mins Daily Market Report

U.S. oil futures held above $50 per barrel on Friday as the entire crude forward curve pushed above above that level in a sign that financial markets have increasing confidence in the sector. U.S. West Texas Intermediate (WTI) crude futures settled at $50.44 per barrel on Thursday - the first settlement above $50 since June 24 - and were trading on Friday up three cents at $50.47 per barrel at 0123 GMT. International Brent crude futures already moved over $50 at the start of this week, and
06-10-2016

3 Mins Daily Market Report

Oil prices dipped on Thursday but remained near June highs reached the previous session when they were buoyed by a fall in U.S. crude inventories.  U.S. West Texas Intermediate (WTI) crude oil futures were trading at $49.63 per barrel at 0051 GMT, down 20 cents from their last settlement.  International Brent crude futures were down 24 cents at $51.62 per barrel. Traders said the price dips early on Thursday were largely a result of profit-taking following strong price rises the day before
05-10-2016

3 Mins Daily Market Report

Oil prices rose in early trading on Wednesday after a report that U.S. fuel inventories may have fallen for a fifth straight week, but contracts remained near the $50 marker where many traders currently see fair value for crude. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $49.18 per barrel at 0014 GMT, up 49 cents, or 1 percent, from their last settlement. Traders said the higher prices were largely a result of a report by the American Petroleum Institute (API) lat
04-10-2016

World's First LNG-Powered Pure Car and Truck Carrier Delivered

NYK and Wallenius Lines took delivery of the world’s first LNG-fueled Pure Car and Truck Carrier Thursday from Kawasaki.
04-10-2016

Torghatten Nord to Upgrade Two Ferries to Hybrid Electric Propulsion

Havyard will complete the conversion of two shuttle ferries to hybrid electric propulsion for Torghatten Nord.
04-10-2016

3 Mins Daily Market Report

Oil prices dipped early on Tuesday, weighed down by a rise in Iranian exports that adds to a global supply overhang, although a planned OPEC-led supply cut later this year has lent crude some support. International Brent crude oil futures were trading at $50.79 per barrel at 0015 GMT, down 10 cents from their previous close. U.S. West Texas Intermediate (WTI) crude was down 15 cents at $48.66 a barrel. Traders said prices were dented by the latest rise in Iranian crude and condensate sa
03-10-2016

OPEC Deal Could be Good News for U.S. Drillers, Which May Also Cause Output Deal To Unravel: Analysts

Analysts say over two dozen U.S. producers can profitably drill new wells as oil climbs to $60.
03-10-2016

Siemens to Supply Propulsion Systems for Two Electric Ferries

Siemens says it has been selected to supply propulsion systems for two new battery-powered ferries.
03-10-2016

3 Mins Daily Market Report

Oil prices fell away from $50 per barrel on Monday despite last week's agreement by exporters to cut output, with traders doubting the step was big enough to rein in production that has exceeded consumption for the better part of three years. Brent crude futures were trading down 35 cents, or 0.7 percent, at $49.84 per barrel at 0053 GMT. U.S. West Texas Intermediate (WTI) futures were down 40 cents, or 0.83 percent, at $47.84 a barrel. Oil trading activity will be limited on Monday as
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