Crude Futures Start the Week with Heavy Volatility
Crude futures saw heavy volatility today but nonetheless settled softer since last close.
Brent front-month contracts for August delivery were down nearly $2.00 earlier in the day but made a comeback and settled $0.88 cents lower since the last close.
We expected the ICE market to tank completely today but it seems that Iran will need some more time before they come to an agreement on the nuclear deal.
On the western front we saw WTI contracts for Au
Standard Club Sees Increase in MARPOL Violations
The increase in the number of MARPOL fines is said to be especially common in the USA.
Canada Launches Oil-Spill Preparedness Initiative
The program will target four coastal areas in Canada.
The Canadian government
Hambantota Port Set to Renew Bunkering services, Receive $400 Million Investment
Hambantota Port will reportedly receive a repair centre and renewed bunkering services in the "near future."
Tankers Experiencing Lower Activity in Fuel Oil Trade from Asia
Poten & Partners says increased Asian refinery capacity has resulted in higher domestic supplies of fuel oil and is part of the reason oil tankers are seeing less activity in the region.
Singapore Bunker Sales Show Continued Improvement
MPA data showed that there were 3,246 calls for bunkers in June 2015
New Tonnage Set for Far East-South America Routes Could Trigger New Box Rate War
Currently, a total of 137 handy neo-panamax containerships of 8,600-10,600 TEU are said to be on order.
Island Oil Appoints Jesper Jervild as Head of Trading, Dubai & Singapore Offices
Jervild has some 23 years of experience in the industry
Island Oil (Holdings)
Industry Failing to Reduce Bunker Costs Due to Systemic Market Failures
The report suggests there is a disconnect between owners who are responsible for a ship’s technology and design, and the charterer who often buy the bunkers.
Russian LNG Bunkering Vessels to Benefit from French Technology
Membrane containments systems may also be used in new Russians LNG plant.
W\u00e4rtsil\u00e4, MAN Diesel & Turbo and Winterthur Gas & Diesel to Lead Project for Ship Engine Efficiency
WTI Slides to 3 Month Low
Today crude futures were mixed, early in the trading day Brent front month contracts for August firmed significantly reaching highs of $57.75 per barrel but ended up loosing nearly 80% of all gains by the end of the trading day.
ICE contracts for August settled in the green up $0.20 cents from yesterdays close.
WTI contracts for August continued on the slippery slope we have witnessed lately and softened by $0.68 cents settling at 3 month low of $51.65
Maersk Line in $1.1 Billion Order for Another 9 Containerships
The deal is for nine 14,000 TEU containerships with an option for eight more.
BAHRI Adds Five More VLCCs to its Order List
Bahri says it has signed a contract with Hyundai Samho Heavy Industries to build five VLCCs, bringing the company's total VLCC newbuild count to 10.
First LNG Bunkering Operation at Eemshaven Port
The LNG-powered coastal tanker, Sefarina, received the LNG at Beatrixhaven, one of Eemshaven Port’s docking basins.
Greek Financial Crisis: Capital Controls Leave Greek Shippers Struggling to Buy Bunkers
Capital controls have made it hard for smaller shippers to buy fuel and resources in other countries.
China Offshore Oil Corp Takes Delivery of Asia's First LNG Only Powered Tug
Hai Yang Shi You 525 has undergone a successful sea trial.
Hai Yang Shi You 5
Singapore's Hin Leong in Surprise Gasoline Sale
Hin Leong is said to have sold 50,000 barrels of 92-octane grade gasoline to Unipec at $73.60 a barrel.
Demand Surge Sees Atlantic Gulf Bunkering Expand MGO, ECA Product Availability
Atlantic Gulf Bunkering is based in Mobile, Alabama
Alabama-based Atlantic Gu
Crude Futures Bullish on Improvement in Chinese Stock Market
Crude futures were like a bull in a china shop today after the Chinese stock market saw some improvement.
Furthermore, uncertainty with Tehran also helped drive crude futures into the green as many were expecting sanctions to be lifted in the near term.
ICE contracts for August delivery firmed 3% by the end of the trading day settling at $58.61 per barrel while NYMEX contracts for August saw gains over 2% settling at $52.78 per barrel.
There has been