Best Tanker Market Since 2008, but it's Putting Pressure on Crude Prices
Another pressure on price is the fact that ships are traveling farther to find buyers.
LNG Bunker Prices Fall, but Weak Oil Prices Hampering their Adoption
In addition to LNG prices being tied to crude,supply has been exceeding demand.
Anthony Verder Signs Long-Term Charter Agreement with Gasum for LNG Vessel
The new "state of the art" LNG vessel will be built at German shipyard Neptun Werft and delivered at the last quarter of 2017.
Proposed Rotterdam Crude Oil Terminal in Doubt
A suggested supply deal which had the possibility of guaranteeing 20 million tons of crude annually to the facility faced opposition in Russia.
Russia Considering Arctic Ban on Foreign-Flagged Ships
The proposed bill is believed to be a response to sanctions.
Mobil Paying $691,307 for Tauranga Bunker Spill
Mobil has paid the council's first invoice of $421,307.80 and is currently processing the second, worth $270,000.
Riau Fuel Terminals Will Be Complete by 2016: Pertamina
Pertamina's upgrade plans are worth a combined $156 million
GAC Joins World Ocean Council
The WOC focuses on sustainability and the conservation of the ocean.
Shipping is "Too Conservative" Says Outgoing DNV GL CEO
Henrik O. Madsen urged the industry to see new legislation as opportunities rather than setbacks.
Singapore Eyes More Mega-Ship Calls as PM Opens Latest Pasir Panjang Terminal Expansion
The completed project will reportedly bring Singapore's annual container handling capacity to 50 million TEUs.
One Bunker Spill Threat Ended After Listing Ship off Mumbai Towed to Safety, Four More Ships Send Distress Calls
Jindal Kamakshi, which was said to be posing "a grave environmental risk" to the Mumbai's coastline because of a 20 degree mid-sea tilt, has now been towed to safety.
5 Orkim Harmony Pirates Still at Large
MMEA says a total of 13 individuals were involved in the hijacking of MT Orkim Harmony, including five that still remain at large.
Crude Futures Fall After Early Rally
Crude futures ended up falling significantly today after rallying early in the trading day.
Government data showed that there was a 4.9 million barrel draw in U.S crude stocks last week but nearly a 700K barrel build in crude products which helped put some downward pressure on futures prices today.
Furthermore, speculators are still weary of the Greek situation which till now has not been capitalized on leading the U.S dollar to firm against a basket o
China Drafting Maritime Emissions Regulations
Ships would be required to use shore-based power while berthed at ports, with all ports required to install shore land-based power services.
Hopes of a Charter Rate Rise Buoyed by Drop in Idle Fleet
The contracted idle container ship fleet, which was at the lowest level in five years on June 15, is expected to pick up again after summer holidays.
ClassNK Release Advisory on New Hong Kong Sulfur Rules
Ships must keep information such as arrivals, departures and fuel-switching completions on record for three years.
Bunker Pirates: Caning, 10 Years for Sun Birdie Hijackers
Nine Indonesianswere sentenced to 10 years jail and one stroke of the rotan for robbing Mt Sun Birdie in Pengerang waters on January 29, 2015.
New Physical Supplier Enters the Colombian Market
The supplier says it began deliveries five months ago in Cartagena, Barranquilla, and Santa Marta.
German Scientists Create "Nanofur" Coating that Could "Significantly Reduce Marine Fuel Consumption"
The coating has been likened to the high-density hairs that comprise the coating of some ferns and insects.
Mideast Energy Management Looks to Marorka Systems to Reduce Bunker Consumption on 26 VLCCs
The systems will be installed on 26 VLCC Mideast tankers with the intention of reducing fuel consumption as well as carbon emissions.