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27-04-2016

3 Mins Daily Market Report

U.S. oil rose more than 3 percent on Tuesday as a tumbling dollar boosted commodities denominated in the greenback.  Front-month Brent crude futures traded $1.22, or 2.7 percent, higher at $45.70 per barrel. U.S crude rose $1.40, or 3.3 percent, to settle at $44.04 a barrel, posting its best settle since November.  Crude oil futures also rose on the back of a 3-percent hike in U.S gasoline and ultra low sulfur diesel, or heating oil, prices. U.S. gasoline margins climbed as high as 4 perce
26-04-2016

LNG Bunkering in Poland Moves One Step Closer

Polskie LNG has invited all interested parties to submit comments and suggestions in relation to the draft Swinoujscie LNG Terminal Code.
26-04-2016

Environmental Group Call for Regulatory Action Amid Increased Bunkering at Gibraltar

Verdemar-Ecologistas en Acción intends to urge the EU and Spanish authorities to take action to prevent pollution amid Gibraltar's growing bunkering activities.
26-04-2016

South Korean Maritime Accidents Double in 2015

South Korea's Ministry of Public Safety and Security says the number of accidents in 2015 was double the annual average of the previous three years.
26-04-2016

BMS United Bunkers Welcomes Another Member to The Group

As of May 1st, BMS United Bunkers Group and Asia specialist International Bunker Services (IBS) have come to an agreement of merging the two organizations, establishing one of the largest bunker trading groups not only in Asia, but globally. Executive Group Director Lars Nielsen commenting on the merger: “BMS United Bunkers has been looking for a partner to further strengthen our position in key areas in the Asian region. International Bunker Services is a perfect match, adding strategical
26-04-2016

3 Mins Daily Market Report

U.S. oil prices fell on Monday after data suggested inventory has spiked at a key storage base and as leading banks said a two-month long rebound has defied fundamentals.  The front-month contract in U.S. crude futures settled $1.09 lower, or 2.49 percent, at $42.64 a barrel. It fell from a session high of $44.04. On Friday, it hit a five-month high of $44.49. Brent crude's front-month slid 59 cents, or 1.3 percent, to $44.53 per barrel. It hit a mid-November high of $46.18 in the previous se
25-04-2016

3 Mins Daily Market Report

Oil prices jumped on Friday and posted a third week of gains as market sentiment turned more upbeat amid signs a global supply glut may be easing.  International benchmark Brent rose 59 cents to $45.12 per barrel, off a session peak of $45.90. U.S. crude settled 55 cents higher, or 1.3 percent, at $43.73, after rising as high as $44.45. Strong gasoline consumption in the United States, increasing signs of declining production around the world, and oilfield outages have underpinned a return
22-04-2016

Iran: Don't Blame Us for Market Destabilization

The Islamic Republic's oil minister says his country will "make efforts" to bring back normality.
22-04-2016

3 Mins Daily Market Report

U.S. oil prices slid on Thursday, reversing early gains as a rebounding dollar weighed on commodities denominated in the U.S. currency. Benchmark Brent crude futures fell $1.16 to $44.64 a barrel, off its session high of $46.18. U.S. crude futures settled $1 lower, or 2.3 percent, at $43.18, having risen as high as $44.49. Prices were already lower when market intelligence firm Genscape reported a build of more than 840,000 barrels in U.S. crude in the four days to April 19 at the Cushing,
21-04-2016

"Out of the Blue" Output Reductions Cause Oil Prices to Soar

Just a day after a 5 percent reduction due to the failed Doha talks, the market responds to a Kuwait strike with a 3 percent gain.
21-04-2016

3 Mins Daily Market Report

U.S. oil prices closed at new 2016 highs on a smaller-than-expected U.S. crude build and speculation that major oil producers were meeting in Russia in May for another attempt at curtailing output. Brent futures were up $1.74, or 3.9 percent, at $45.77 a barrel, having earlier touched $45.82, the highest level since Nov. 26. U.S. crude settled 3.77 percent higher, or $1.55, at $42.63 a barrel. Moscow, however, denied media reports of such an impending meeting. Just on Sunday, Russia and OP
20-04-2016

Shell to Supply LNG Bunkers to Carnival

Shell says it has signed an agreement with Carnival to supply LNG bunkers to the cruise line's AIDAprima vessel.
20-04-2016

U.S. Councilman Calls for Shore Power at South Carolina Cruise Terminal

City councilman Mike Seekings says, in order to prevent emissions from idling ships, shore power should be made available to liners utilising the Charleston port
20-04-2016

3 Mins Daily Market Report

U.S oil prices rose more than 3 percent on Tuesday after a strike by workers in Kuwait nearly halved the OPEC member's crude production, overshadowing bearish sentiment after Sunday's failure by producers to agree to freeze output levels. Brent crude futures, the global benchmark, were up $1.13, or 2.63 percent, at $44.04 a barrel, after rising as high as $44.50. U.S. crude futures for May delivery settled 3.27 percent higher, or $1.30, at $41.08, a new 2016 high, but still off a session peak
19-04-2016

No Doha Deal Means No Sabotage of Current Oil Price Recovery: Goldman Sachs

Goldman Sachs' Michele Della Vigna says it has taken 18 months to start to rebalance the oil market.
19-04-2016

Bunker Spill After Car Carrier Grounding off Busan

A bunker spill is said to have resulted after a storm led to the grounding of the 2,736 DWT car carrier Ocean Tango in Busan, South Korea Sunday
18-04-2016

Doha: Drama, Delays, but Day Ends With No Decisions at Oil Freeze Meeting

Talks were being held in Doha Sunday Today's much anticipated oil freeze meet
18-04-2016

IMO Kicks Off Global Project to Tackle Increasing Shipping Emissions

Under a new project, the IMO has issued a call for hosts located in the project's target regions that may be interested in establishing MTCCs.
18-04-2016

Call for Arctic HFO Ban at MEPC 69

A ban of heavy fuel oil in Antarctic waters takes full effect this year, but no ban is currently planned for Arctic waters.
15-04-2016

Maersk Line Vessel First to Utilise Newly Developed Bunker Saving Waste Heat Recovery System

The HydrocurrentTM Organic Rankine Cycle Module 125EJW waste heat recovery system has begun operation on a Maersk Line vessel, Arnold Maersk.
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