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16-07-2015

Gunvor Sells Majority Stake in Russian Oil Product Terminal

The stake was sold to a Russian billionaire for an undisclosed amount. Commod
16-07-2015

Restructuring Slashes TORM Debt, Boosts Fleet

The completion of an extensive restructuring has resulted in\u00a0TORM\u00a0slashing its debt, boosting its fleet, and re-emerging as "one of the largest owner-operators of product tankers globally that is poised for growth," th
16-07-2015

HullWiper Approved for Use in Danish Ports

GAC EnvironHull says permission to use HullWiper in three Danish ports represents the latest in a "growing list of approvals around the world."
16-07-2015

New York, Singapore Courts Disagree on Validity of Interpleader Applications Following OW Bunker Bankruptcy

New York and Singapore courts have disagreed on the validity of interpleader applications
16-07-2015

Singapore Operator Orders Four Fuel Savings Ferries

The vessels, powered by a pair of MAN D2862 LE463 main engines, will reportedly have enhanced capacity and speed, and will offer significant fuel savings.
16-07-2015

Kaohsiung MGO Now Compliant with Hong Kong Low Sulfur Regulations

0.5 percent sulfur MGO is available at Kaohsiung port effective July 7, 2015
16-07-2015

Maersk Line Aims for Asia-Europe Freight Rate Rise

Maersk Line has announced that freight rates on a number of routes will be subject to rate increases and "restorations" as of August 1, 2015.
16-07-2015

Baltic Dry Bulk Routes Could See Higher Rates Due to Rotterdam MGO Discount

An average Rotterdam discount of $17.70/mt against St Petersburg is said to have made Rotterdam more competitive.
16-07-2015

Court Refuses Anti-Suit Injunction Brought by Bankrupt O.W. Supply & Trading Proceedings

OW has commenced numerous actions against OW's counterparties in Denmark for that purpose, including action against SwissMarine.
16-07-2015

Port of Antwerp Requesting Proposals for LNG Bunkering Facility

A third party would both construct and operate the new facility. The Port of
16-07-2015

Clubs Warn that an End to Iran Sanctions Will Loosen P&I Restrictions, but Not Right Away

Japan, a major importer of Iranian oil, will especially benefit, according to reports.
15-07-2015

Crude Futures Firm Despite Soft Start and Iran Deal

Crude futures firmed today after the U.S dollar softened on unexpectedly lower retail sales in the United States. When the dollar falls it makes it more attractive for buyers of other currencies to buy commodities traded in U.S currency. This comes despite the fact that history was made in Vienna regarding the Iran deal, many speculators were expecting the market to decline heavily, when the opposite occurred. WTI front month contracts for August fir
15-07-2015

Prepare for $30 Oil, Says Analyst, as Iran Strikes Deal Over Nuclear Sanctions

OPEC is said to already be over-producing by as much as 2.5 million barrels per day
15-07-2015

Asia-Europe Spot Rates Fall 20% After Two-Week Upswing

Spot rates on Asia-Europe trades have fallen to $699 per TEU, a rate that is said to be 36 percent lower than during the same week in 2014.
15-07-2015

Japan's Bonded Bunker Sales Fell Almost 11% in May

Japan sold 1.418 million barrels of bonded bunker fuel in May, which is down 10.7 percent from the previous month.
15-07-2015

Scorpio Tankers Adds Two More to Newbuild Order List

Scorpio Tankers says it will purchase two more newbuild vessels, an MR product tanker and an LR2 product tanker, both currently under construction.
15-07-2015

North America's First LNG Ferry Officially Commissioned

The F.A. Gauthier is the first in a series of three LNG ferried intended for Quebec.
14-07-2015

IEA: Oil Prices May Fall Further as Demand Set to Slow

Demand growth is expected to slow even as supply continues to rise. Low oil p
14-07-2015

Ferry Operator Pushes Back LNG Conversion by a Year

BC Ferries says the project has been delayed to provide enough time to procure equipment, engineering work, regulatory approvals, and financial due diligence.
14-07-2015

Hin Leong Group Moving Forward With Singapore Storage Sale

The first round of bids is reportedly due in August 2015. Singapore-based Hin
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