rss icon Subscribe
desktop mobile

Fuels & Lubes

IMO Rules a Cliffhanger for Oil Storage -Vitol's Chris Bake

© Arthit Somsakul / Adobe Stock

Vitol executive committee member Chris Bake says a big question facing oil storage sector is how world handles new International Maritime Organisation rules for cleaner shipping. New IMO rules to slash the use of high sulphur fuel oil in global shipping will come into effect in 2020. "It's going

Enerplus Profit Beats as Oil Focus Pays Off

Photo: Enerplus Corp

Canadian oil and gas producer Enerplus Corp reported a quarterly profit that beat estimates on Friday as the company's strategy to focus on oil assets paid off. Shares of the company, which has historically produced more natural gas than oil, were up as much as 4.5 percent. Enerplus, which has significant operations in the United States,

IMO to Ban Ships without Scrubbers from Carrying High Sulphur Fuel

© Giuseppe Elio Cammarata / Adobe Stock

The International Maritime Organization intends to ban ships that do not have equipment to strip sulphur from carrying fuel that has a sulphur content above new limits in 2020, an IMO official said on Thursday.   The ban, which still has to go through two formal approval steps, was presented at IMO compliance meetings earlier this month.

Nauticor Extends its LNG Supply Network

Photo: Nauticor

Nauticor has extended its liquefied natural gas (LNG) supply network for ships within the North Sea region and has now begun delivering to maritime customers in the Port of Rotterdam. The Dutch port is the latest location added to the firm’s LNG distribution network, adding to a growing portfolio of

Wärtsilä to Optimize Performance of Four TMS Cardiff Gas Vessels

Photo: Wärtsilä

Wärtsilä is expanding its cooperation with the Athens based ship management company TMS Cardiff Gas Ltd.   Under the recently signed maintenance agreement, Wärtsilä ensures the maintenance predictability of the operation of four TFDE LNG Carriers in TMS Cardiff Gas’ fleet. Eniram’s data collection

Cyprus to Pursue Gas Exploration Amid Standoff with Turkey

Cyprus said on Wednesday it would press ahead with oil and gas exploration, signalling resolve in a standoff with Turkey over access to potential energy riches after Ankara extended military exercises in the eastern Mediterranean to early March. Cyprus has accused Turkey of obstructing a drill ship

LNG Market to Suffer From Oversupply Until 2021 - Vitol

© Carabay / Adobe Stock

Global prices of liquefied natural gas (LNG) will face pressure from oversupply over the next two to three years, particularly in warmer months, top energy trader Vitol said on Wednesday. New LNG production in countries such as the United States and Cameroon that is set to start up in the coming

Noble Energy Profit Beats Estimates

Photo: Nobel Energy

U.S. oil and gas producer Noble Energy Inc reported adjusted quarterly profit on Tuesday that easily beat analyst estimates due to cost cuts and higher crude prices, sending shares surging more than 7 percent in morning trading. The results came as Noble's U.S. shale oil production jumped in the fourth quarter through Dec.

BP Plans No Azeri Platform Shutdowns in 2018

Photo: BP

British oil major BP, which operates a number of oil and gas fields in Azerbaijan, plans no maintenance shutdowns of platforms there this year and intends to advance with new projects, BP's regional president told Reuters.   "There aren't any turnarounds planned for this year. I think there are some planned for 2019,

Cheniere's LA Sabine Pass LNG Output Dips

File Image: Cheniere's Sabine Pass LNG Export facility (CREDIT: Cheniere)

Production at Cheniere Energy Inc's Sabine Pass liquefied natural gas (LNG) export plant in Louisiana fell well below full capacity on Friday, according to Reuters data:   The volume of gas flowing into the facility dropped from about 3.2 billion cubic feet per day on Wednesday to 2.8 bcfd on Thursday and a projected 1.

DNV GL Revises Stern Tube Bearing Class Notations

Propeller shaft system (Photo: DNV GL)

DNV GL has revised its class rules for single stern tube bearing installations and introduced two new class notations, “Shaft align(1)” and “Shaft align(2)”, to help customers better manage the risk of stern tube bearing failure. The new class notations can be assigned to both newbuilds and vessels

OPEC Pact Likely to Evolve Rather Than Terminate

© philipus / Adobe Stock

"The lexicon of exit is not found in our vocabulary", OPEC Secretary-General Mohammad Barkindo told reporters on the sidelines of a conference in Cairo on Monday. Ministers from the Organization of the Petroleum Exporting Countries have been anxious to counter speculation about an early end to production curbs.

BIMCO: China Breaks New Ground… Again

© Igor Groshev / Adobe Stock

Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017.   Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded, while coal reached the highest level in three years. Imports of crude oil and coal have benefitted the

Singapore Marine Fuel Sales Surge 7.2%

© Kalyakan/Adobe Stock

Singapore's marine fuel sales set a monthly record in January after climbing to 4.606 million tonnes, up 3.2 percent from a year earlier as vessels coming to the world's largest bunkering hub loaded larger amounts of bunker fuel per vessel on average, official data showed.  Compared with the previous month, sales in January were up 7.

Maritime Apps