Oldendorff Carriers Says 2015 "Better Than Expected" for Dry Bulk
In a challenging dry bulk market, Oldendorff Carriers says that it has had a more profitable than expected 2015.
Singapore-Listed Samudera Shipping Says Q2 Profit Decline Cushioned by Cheaper Bunkers
OVerall revenues dropped 16.1 percent to $81.3 million.
Falling freight rates
No Growth in Singapore Bunker Market, Poor Demand Outlook Herald "Fundamental Change" to Asia Fuel Oil Market
Thomson Reuters says the fuel oil trading community and storage operators are operating in an increasingly challenging environment
Petrobras Intends to Sell 25% of its Fuel Distribution Unit
Petrobras is said to be looking to sell a quarter of its fuel distribution unit, BR, in a Brazilian IPO.
New Fujairah Refinery Faces Delay
IPIC's planned refinery in Fujairah on the Gulf of Oman has faced set backs and is now expected to be completed by the end of 2018.
Low Bunker Prices Keep Asian VLCC Earnings Strong Despite Tumbling Rates
Low bunker prices have allowed VLCC vessel owners have to maintain daily earnings alongside dwindling rates.
Crude Futures Firm, but Brent Stays Under $50
Today crude futures firmed following yesterdays sell-off.
The U.S dollar weakened today making commodities backed in U.S currency more attractive for holders of other currency, this was paired with volatility in the Chinese equities market which also took significant losses yesterday.
Brent contracts for September delivery rose $0.47 cents settling at $49.99 per barrel while WTI contracts for September firmed $0.57 settling at $45.74 per barrel.
Caterpillar Completing Dual Fuel LNG Conversion on Furetank Rederi Tanker
Caterpillar says it is completing a dual fuel engine retrofit conversion for Furetank Rederi’s 472 foot tanker, Fure West.
Panama Bunker Sales Hit 2015 High, Jump 42% Year-on-Year
About 223,300 mt was sold on the Pacific coast, and 87,000 mt was sold on the Atlantic coast.
Bunkers and Currency Drive RCL's Q2 Earnings Increase
The company anticipates full year earnings of almost 40 percent above 2014.
Tanker Boom "Even Stronger" than Predicted
Tanker market earnings in the oil and crude segment have surprised international shipping analysts by "significantly" exceeding forecasts.
Diana Containerships Boosts Fleet Capacity, Net Income
The containership specialist also earns a Strong Buy ranking from Zacks.
Smaller Ports Feeling the Effects of Mega-Containership Demand
The industry trend towards mega-ships has led container traffic to move away from smaller ports that cannot handle large vessels.
CSCL Boosts Its Fleet With Another Eight Containerships
The total cost of the new builds is estimated at $934.4 million.
Eight new 1
Battle Over Cruise Terminal/Shore Power Sent to Appeals Court
South Carolina Supreme Court rejects a request by the state's port authority to hear the case.
New York RMG Demand Weak as Shippers Turn to RMK
RMK, which is reportedly growing in popularity in New York, is said to be more cost efficient compared to RMG.
Finnlines' Efficiency Measures Help Secure Solid First Half of 2015
Finnlines says that it is strengthening its long-term strategic position through the acquisition of three vessels and investment in environmental technology.
Iran to Boost Oil Output "Within a Day After the Lifting of Sanctions"
Bijan Namdar Zanganeh says production will return to the level of 3.8-3.9 million barrels within the next few months
OPEC Output Drops in July After Iraq Fails to Repeat Record June Highs
Iraq is OPEC's second biggest producer.
The July output of the Organization o
Canada Provides Further Funding For Shore Power Projects
The Government of Canada has announced new funding for the installation of shore power at the Port of Montreal.