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.
Analysts: Modern Fleet Makes Singapore's NOL a Bargin at $2 Billion
Analysts say that should a sale of NOL come to fruition, the transaction would offer the buyer “a modern fleet at a comparative bargain price".
Royston Responds to Increased Nigerian Demand for Fuel Monitoring
Royston reports increasing Nigerian demand for marine engine monitoring systems that include accurate fuel management reporting.
SK Energy Starts ULSFO Supply in Singapore
The product is said to be fully compliant with, and compatible with all other, ISO8217 RME180 specification fuels.
Record Volumes Reported by World Fuel Services, but Share Price Tanks as Earnings Miss Estimates
The company's share price plunged after earnings missed analyst expectations.
US Moves One Step Closer to Being an Oil Exporter as Senate Backs "No Fossil Fuel Left Behind Act"
Alaska Republican Senator Lisa Murkowski sponsored the bill.
The U.S. Senate
Tech Firm Releases New "Lab in a Box" Fuel Quality System
The system reportedly determines density, particulate and water content in real time.
Crude Futures Soften on Firming U.S Dollar
Crude futures declined slightly today on the firming of the U.S dollar, making commodities priced in U.S currency less attractive to buyers of other monetary holdings.
U.S inventories saw a draw of 4.2 million barrels last week which caused the market to shift from the heavy sell offs we have all witnessed lately.
If it wasn't for the firming dollar we could have expected crude futures to rise to higher levels today.
Brent front month contracts for S
Iran Likely to Face Hurdles Selling Condensate to China
A major Chinese importer is experiencing an outage, while weak refining margins have depressed demand.
Iran Officials Seek to Dispel Rumours of Crude Floating Storage
The 30 million barrels stored at sea is mostly condensate and fuel oil, according to officials.
U.S. Firms Aiming For Hydrogen Fuel Cell Ferry and World's Largest Refueling Station
Project SF-BREEZE is being developed through a partnership between U.S.-based Sandia National Laboratories and San Francisco's Red and White Fleet.
Singapore's NOL Posts $3 million Profit for Q2 2015 Outside of APL Logistics Sale
NOL has reported a net profit during 2015's Q2, the first time in six quarters.
Dry Bulk May Be Seeing First Signs of Recovery
The Baltic Dry Index climbed above 1100 points this month.
The dry bulk secto
Hong Kong Dry Bulk Operator Pacific Basin Reports $5.8 million Net Profit
Pacific Basin's core dry bulk business generated a net loss of $15.4 million.
Crude Prices Edge Upwards
Both the ICE and NYMEX markets traded in the green today after a Dow Jones report stated that Saudi Arabia will cut back production by 300k barrels per day after the summer season, this was coupled with EIA data showing that U.S crude inventories incurred a 4.2 million barrel draw last week.
Brent front-month contracts for September firmed up $0.08 cents settling at $53.38 per barrel while WTI contracts for September delivery were up $0.81 cent per barre
Report Suggests Singapore's Container Port Lags Behind Malaysia and China in Productivity
Singapore's container port reportedly moved an average of 66 containers per hour per ship in 2014, compared Shanghai, which averaged 167.
Second Singapore Vessel Arrest This Month
Welfine was arrested on July 23, 2015 following action by local law firm Rajah & Tann Singapore LLP.
Panama Canal Expansion Over 90% Complete
The Panama Canal expansion project is currently said to be working on the completion of the Third Set of Locks.
Scorpio Tankers Closes Q2 with $96.8 Million Net Income
Scorpio Tankers reports it has reached a net profit of $96.8 million during the first six months of 2015.