Gunvor Sells Majority Stake in Russian Oil Product Terminal
The stake was sold to a Russian billionaire for an undisclosed amount.
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
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."
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
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.
Kaohsiung MGO Now Compliant with Hong Kong Low Sulfur Regulations
0.5 percent sulfur MGO is available at Kaohsiung port effective July 7, 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.
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.
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.
Port of Antwerp Requesting Proposals for LNG Bunkering Facility
A third party would both construct and operate the new facility.
The Port of
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.
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
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
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.
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.
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.
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.
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
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.
Hin Leong Group Moving Forward With Singapore Storage Sale
The first round of bids is reportedly due in August 2015.