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13-01-2017

MPA Grants MFM Approval to Another Bunker Vessel

Sea Swift received MPA's MFM approval for bunkering on January 3. The Maritim
13-01-2017

3 Mins Daily Market Report

Oil prices were steady on Friday, supported by reports on details of OPEC output cuts, although lingering doubts over producer compliance with supply reduction targets weighed on the market. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $53.01 per barrel at 0052 GMT, unchanged from their last settlement. Brent crude futures, the international benchmark for oil prices, were yet to trade. Traders said that prices received some support from statements from top crude
12-01-2017

Global Piracy Falls to Lowest Level Since 1998: IMB

IMB says global piracy in 2016 reached the lowest levels since 1998. The Inte
12-01-2017

Cargo Vessel Linked to Bunker Spill at Vladivostok

Reports say a cargo ship, the Rich Mighty, has spilled about 60 litres of bunkers from its deck at Vladivostok.
12-01-2017

3 Mins Daily Market Report

Oil prices were steady early on Thursday after U.S. crude and refined product stocks sent mixed messages to the market, with ongoing uncertainty over OPEC compliance with planned output reductions also in focus. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $52.24 a barrel at 0040 GMT, virtually unchanged from their last settlement. Prices for Brent crude futures, the international benchmark for oil prices, were yet to trade. Traders said that a crude oil and refi
11-01-2017

3 Mins Daily Market Report

Oil edged up on Wednesday, lifted by reports of Saudi supply cuts to Asia, but prices were prevented from rising further over a lack of detail of these reductions and because of signs of rising supplies from other producers. Prices for Brent crude futures, the international benchmark for oil prices, were trading at $53.75 per barrel at 0316 GMT, up 11 cents from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $50.97 a barrel, 15 cents above their last settlem
10-01-2017

Gibraltar Marks Second Consecutive Year of Bunkering Growth

2016 saw growth in both the number of vessels calling at Gibraltar for bunkers and in the quantity of fuel delivered.
10-01-2017

3 Mins Daily Market Report

Oil markets opened on Tuesday torn between production cuts by major exporters Saudi Arabia and Russia and reports showing that supplies from other regions including North America, Iraq, and Iran could offset any restraint aimed at curbing a global glut. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $52.03 per barrel at 0028 GMT, up 7 cents from their last settlement but down 4 percent from this year's opening. Prices for Brent crude futures, the international benchma
09-01-2017

Owners Set to Pay RM1 Million as Spill Clean Up Continues Following Container Ship Collision

Owners of both vessels are set to pay a RM1 million ($223,588) bond to ensure the spill's clean up.
09-01-2017

Sri Lanka to Renegotiate Framework Agreement with Chinese Company for Hambantota Port

Sri Lanka and CMPort signed a framework agreement for the joint management of Hambantota's port in December.
09-01-2017

3 Mins Daily Market Report

Oil prices fell early on Monday as Iran increased exports undermining efforts by other oil producers to curb a global fuel supply overhang and as U.S. drillers increased activity for a 10th week. Brent crude futures, the international benchmark for oil prices, were trading at $56.97 per barrel at 0019 GMT, down 13 cents from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $53.79 per barrel, down 20 cents. Traders said that the lower prices were a r
06-01-2017

3 Mins Daily Market Report

Oil prices were little changed on Friday after gaining nearly 1 percent the day before on news that Saudi Arabia had cut production to meet OPEC's agreement to reduce output. Saudi Arabia has been curbing oil output in January by at least 486,000 barrels per day (bpd) to 10.058 million bpd, fully implementing OPEC's agreement to slow production, according to a Gulf source familiar with Saudi oil policy. NYMEX crude for February delivery was down 7 cents at $53.69 a barrel by 0016 GMT, afte
05-01-2017

3 Mins Daily Market Report

Oil prices were firm on Thursday, buoyed by data showing a fall in U.S. crude inventories and by record car sales in the United States. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $53.26 per barrel at 0024 GMT, unchanged from their settlement on Wednesday, when prices rose around 2 percent. International Brent crude oil futures were yet to trade. Traders said that WTI had been lifted by a report by the American Petroleum Institute (API) stating that U.S. crude i
04-01-2017

3 Mins Daily Market Report

Oil edged higher on Wednesday, with top exporter Saudi Arabia expected to raise prices for its crude as part of planned supply cuts, although a strong dollar and moderate economic growth prospects restricted gains. U.S. West Texas Intermediate (WTI) crude futures were trading at $52.66 per barrel at 0324 GMT, up 33 cents, or 0.6 percent, from the last settlement. Brent crude futures were up 34 cents, or 0.6 percent, at $55.81 a barrel. The gains were due to an expected tightening of phy
03-01-2017

3 Mins Daily Market Report

U.S. oil prices rose in the first trading hours of 2017 on Tuesday, buoyed by a deal for OPEC and non-OPEC production cuts which kicked off on Sunday. U.S. benchmark West Texas Intermediate (WTI) crude oil prices were up 35 cents, or 0.7 percent, at $54.07 at 0010 GMT, not far from last year's high of $54.51 reached on Dec. 12. International Brent crude oil was yet to trade after closing up 68 cents at $56.82 per barrel on Friday. Oil markets were closed on Monday after New Year's holiday.
30-12-2016

Port of Amsterdam "Recalibrates" Shore Power Pricing Policy

The Port of Amsterdam has "recalibrated" pricing for the use of shore power.
30-12-2016

3 Mins Daily Market Report

U.S. oil prices rose in early Asian trade on Friday shrugging off a second consecutive week of crude oil inventory builds, with a U.S. Energy Information Administration (EIA) report late on Thursday indicating an unexpected rise in crude stocks. U.S. benchmark West Texas intermediate (WTI) crude futures were up 18 cents or 0.33 percent to $53.95 at 0021 GMT after settling 29 cents lower at $53.77 per barrel in the previous session. Brent crude oil futures had yet to trade after settling 8
29-12-2016

ReCAAP: No Tanker Hijackings for Oil Cargo Theft in November, Total of Three Since January

No incidents of piracy or armed robbery have been reported in the SOMS since April 2016.
29-12-2016

3 Mins Daily Market Report

U.S. oil prices fell on Thursday following a surprise build in the country's crude stocks shown in data published by the American Petroleum Institute (API) late on Wednesday. U.S. benchmark West Texas intermediate (WTI) crude futures were down 39 cents or 0.72 percent to $53.67 at 0033 GMT after settling up 16 cents at $54.06 per barrel in the previous session. Brent crude oil futures had yet to trade after settling 13 cents higher at $56.22 in the previous session. Trade remains thin as m
28-12-2016

Japanese Government Outlines Development Plan for Yokohama LNG Bunkering Hub

Japan's MLIT Monday released the results of a feasibility study for LNG bunkering at the Port of Yokohama.
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