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02-08-2016

3 Mins Daily Market Report

U.S. crude prices on Monday settled sharply lower after briefly breaking below $40 a barrel for the first time since April, weighed by a survey showing output in OPEC reached record highs last month amid the biggest addition of U.S. oil rigs in two years.  U.S. crude ended 3.7 percent lower, or $1.54, at $40.06 — its lowest settlement since April 20 — after sliding as low as $39.86 just after midday.  Brent was down $1.34, or 3.1 percent, at $42.19 a barrel, after reaching an intraday low of
29-07-2016

3 Mins Daily Market Report

Oil prices fell nearly 2 percent on Thursday, hitting three-month lows, after a fresh stock build at the delivery hub for U.S. crude futures added to concerns that producers were pumping more than needed. U.S. light crude settled down 78 cents, or 1.86 pct, at $41.14 a barrel, and was last down 84 cents, or 1.98 percent, at $41.09 at 3:23 p.m. ET, after touching a session low of $41.04. Brent was down 80 cents, or 1.84 percent, at $42.67 per barrel. Both crude benchmarks hit new multi-mont
28-07-2016

LNG-Gorskaya Receives Approval for LNG Bunkering Facility at St. Petersburg

LNG-Gorskaya has received approval for investments into the construction of a LNG port in St. Petersburg, a development which will include bunkering.
28-07-2016

Debunkered and Refloated, MV Benita Now Being Towed for Demolition

Five Ocean Salvage Wednesday announced that MV Benita will be towed to the Indian coast from Mauritius for demolition.
28-07-2016

3 Mins Daily Market Report

U.S crude futures settled down more than 2 percent at a three-month low on Wednesday after the U.S. government reported surprise builds in crude and gasoline inventories. Brent was on track for the first monthly loss since January and the largest of 2016. Futures traded down $1.32, or 2.9 percent, at $43.55 a barrel by 2:38 p.m. ET (1838 GMT). U.S. crude settled down $1, or 2.3 percent, at $41.92 a barrel, having fallen to a three-month intraday low of $41.68. Prices held their losses afte
27-07-2016

3 Mins Daily Market Report

Brent crude reversed losses on Tuesday after earlier falling toward $44 a barrel on concerns a long-awaited rebalancing of the market would be delayed due to excess supply.  Brent was trading up 0.25 percent, or 11 cents, at $44.83 at 3:34 p.m. ET. It fell to $44.14 intraday, the lowest since May 10. U.S. crude settled down 21 cents, or 0.5 pct, at $42.92 a barrel, and was down 0.58 percent, or 25 cents, at $42.88, at 3:34p.m. ET. Brent crude is still up more than 60 percent from a 12-year
26-07-2016

3 Mins Daily Market Report

Oil prices fell on Monday, with U.S. crude slipping to a 3-month low on rising concerns that a global glut of crude and refined products would pressure markets. Brent crude futures were trading at $44.65 a barrel by 4;25 p.m ET, down $1.04 cents or 2.28 percent from their previous close. The contract fell to an intraday low of $44.55, a low going back to May 10. U.S. crude settled down $1.06, or 2.4 percent, at $43.13 a barrel and was last down $1.14, or 2.58 percent, at $43.05 a barrel, havi
25-07-2016

US Independents Call For Crude Import Ban To Restart Shale Boom

A grassroots movement is planning to go national later this year. If you can'
25-07-2016

Blue Star Vessel Receives Updated Bunker and Emissions Monitoring Tech

EMP says Blue Star Delos, a Greek high speed Ro-Pax ferry, has been updated with new fuel oil consumption and emissions monitoring software.
25-07-2016

3 Mins Daily Market Report

Crude prices inched down on Monday in Asia, staying not far from two-month lows hit in the previous session, amid worries over a global oil glut. Brent crude for September delivery was down 4 cents at $45.65 a barrel by 2243 GMT on Sunday, after settling down 51 cents on Friday. The benchmark contract on Friday hit $45.17, the lowest since May 11. U.S crude for September delivery was down 5 cents at $44.14 a barrel, after closing down 56 cents on Friday. A strong dollar and the fourth week
22-07-2016

3 Mins Daily Market Report

Oil prices fell more than 3 percent on Wednesday, extending losses and hitting session lows, after the U.S. government reported a smaller-than-expected crude inventory draw for last week. U.S crude oil futures settled down $2.05, or 4.4 percent, to $44.75 per barrel. Brent crude recovered earlier losses, and traded up 0.37 percent, or 17 cents, at $46.43. Crude inventories fell 2.5 million barrels in the week to July 8, less than analysts' expectations for a decrease of 3 million barrels,
21-07-2016

3 Mins Daily Market Report

Oil futures rose in early Asian trading on Wednesday after an industry group released weekly figures showing U.S. stockpiles fell more than expected last week.  Brent was up 13 cents at $46.79 a barrel at 0017 GMT. On Tuesday, the contract settled down 30 cents, or 0.6 percent, at $46.66 barrel. U.S. crude rose 7 cents to $44.72 a barrel. It fell 59 cents, or 1.3 percent, to settle at $44.65 in the previous session.  U.S. crude stockpiles fell by 2.3 million barrels last week, trade group
20-07-2016

Low Box Rates, New Alliances Tempers Carrier Shift to U.S. East Coast: Drewry

Drewry says any further shift in the cargo from the U.S. West Coast to the U.S. East Coast will be gradual.
20-07-2016

3 Mins Daily Market Report

Oil futures rose in early Asian trading on Wednesday after an industry group released weekly figures showing U.S. stockpiles fell more than expected last week.  Brent was up 13 cents at $46.79 a barrel at 0017 GMT. On Tuesday, the contract settled down 30 cents, or 0.6 percent, at $46.66 barrel. U.S. crude rose 7 cents to $44.72 a barrel. It fell 59 cents, or 1.3 percent, to settle at $44.65 in the previous session. U.S. crude stockpiles fell by 2.3 million barrels last week, trade group A
19-07-2016

Tanker Manager, Owner Charged in U.S. in Relation to Oily Waste Dumping

Aegean Shipping Management S.A. and Aegeansun Gamma Inc. have been charged in Charleston, South Carolina in relation to the attempted cover up of the illegal discharge of oily mixtures and machinery space bilge water from the T/
19-07-2016

3 Mins Daily Market Report

Oil prices eased in early Asian trade on Tuesday as concerns over a crude and fuel oil glut outweighed an expected cut in U.S. shale production and a likely further draw in U.S. crude stocks.  U.S. crude slipped 13 cents to $45.11 a barrel as of 0021 GMT after settling down 71 cents, or about 1.6 percent, in the previous session. Brent fell 9 cents to $46.87 a barrel after finishing the previous session down 65 cents, or 1.4 percent. Crude prices fell more than 1 percent in the previous se
18-07-2016

South Korea Aims to Become Regional LNG Bunkering Hub

South Korea intends develop its coast as a LNG bunkering hub in the region. L
18-07-2016

3 Mins Daily Market Report

Oil prices rose after news of an apparent military coup in Turkey. Brent crude futures were up 18 cents at $47.55 a barrel at 2:38 p.m. ET. It slipped as much as 1.5 percent earlier to a session low of $46.65. U.S crude futures settled at $45.95 per barrel, up 27 cents, or 0.59 percent. The intraday low was $45.05. Turkey, which straddles Europe and the Middle East, is not a major oil producer, but is an important pipeline area. Oil prices also rise generally during times of instability in
15-07-2016

Despite Meteoric Oil Comeback, Iran "Will Be Maxed Out" by Year End: Analyst

Analysts say difficulty in finding partners and lack of resources are the main impediments in the Islamic Republic making further gains.
15-07-2016

Methanol-Powered Tanker Gets New ClassNK Condition Monitoring System

The installation of ClassNK Consulting Service’s condition-based monitoring system on MOL's Taranaki Sun marks the system’s first commercial application.
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