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Fuels & Lubes

IBIA Supports Efforts to Ensure Integrity of MFM Systems

Photo: International Bunker Industry Association (IBIA)

 The International Bunker Industry Association (IBIA) believes the benefits achieved from adopting mandatory use of Mass Flow Meters (MFMs) for marine fuel oil deliveries in Singapore must be protected by effective enforcement, and that using approved MFMs to measure quantity being loaded onto bunker

Singapore Revokes Panoil Petroleum's Bunker Licence

Photo: Panoil Petroleum

 The Maritime and Port Authority of Singapore (MPA) has revoked the bunker craft operator licence of Panoil Petroleum, effective 14 August 2017.  Panoil  will no longer be allowed to operate as a bunker craft operator in the Port of Singapore.   "As part of MPA’s on-going regulatory efforts to ensure the safety,

ABB Software Leads to Fuel Savings for Stena Line

(Photo: ABB)

Stena Scotia’s fourth generation DEGO IV speed governor and actuation system adds roll-damping and a new fuel-saving dimension to vessel performance management software   An upgraded vessel control software package is delivering measurable operational efficiency gains to Stena Line for the freight

Oil Slips on Strong Dollar, OPEC and China Weigh

File Image (CREDIT: AdobeStock / (c) scanrail)

Chinese Demand Falters as OPEC production remains stronger despite promised cuts.   Oil prices slipped on Tuesday, extending a heavy sell-off after a surge in the dollar and weighed down by signs of weaker demand in China, the world's second-largest consumer.   Benchmark Brent crude was down 30 cents at $50.

Shell Strengthens LNG Bunkering Business

LNG bunkerschip Cardissa. Photo: Royal Dutch Shell Group

 The Hague-based LNG giant Shell has announced two significant milestones for its liquefied natural gas (LNG) marine fuels business in northwest Europe.   Shell's ultra modern bunkership Cardissa Western LNG BV Trading Rotterdam BV (Shell) has arrived in Rotterdam.   This seaworthy ship enables

Port Canaveral Hosts Briefing on LNG as Maritime Fuel

Federal Maritime Commissioner William Doyle leads discussion for port stakeholders on growing use of LNG for ship propulsion to meet international emission standards set to take effect in 2020 (Photo: Port Canaveral)

“We know that natural gas is one of the cleanest, most environmentally-friendly fuels available today,” said Capt. John Murray, CEO at Port Canaveral, who recently hosted a briefing on the use of liquefied natural gas (LNG) as a maritime transportation fuel.  “We wanted better understanding of LNG as a maritime fuel,

Oil Market Marches on Toward Backwardation

© namning / Adobe Stock

Oil traders are increasingly convinced the market will rebalance over the next year with a major drawdown in crude and products stocks. Conviction about market rebalancing is showing in a big rise in the calendar spreads for West Texas Intermediate (WTI) and especially Brent crude in the last two months.

NAT Time Charter with Oil Firm

Photo:  Nordic American Tankers

 Nordic American Tankers Limited (NAT) announced that it has entered into two Time Charter arrangements (TCs) with Shell Oil for a period of 18 months for each vessel, commencing in August/September this year.   The terms of the confidential contracts include upside for both parties as well as downside protection.

Oil Rises Toward $53 before US Inventory Report

© Jim / Adobe Stock

Oil rose towards $53 a barrel on Wednesday ahead of a U.S. inventory report expected to show crude stocks dropped for a sixth week, although gains were capped by doubts about compliance with OPEC-led supply cuts. Crude inventories last week fell by 7.8 million barrels, more than expected, but gasoline stocks rose unexpectedly,

Petrobras CEO: Pre-salt Oil Extraction Costs $8 Per Barrel

Oil extraction in Brazil's promising pre-salt offshore wells costs about $8 per barrel, Petroleo Brasileiro SA Chief Executive Officer Pedro Parente said at an event on Tuesday. Parente also said the state-controlled company's new fuel pricing policy will reduce the chance of prices reaching below international parity.

First of Yamal LNG Tankers Starts Navigation via the NSR

Christophe de Margerie. Photo: Total

 The first Arc7 ice-class LNG tanker “Christophe de Margerie” has entered the Kara Sea and has started its first LNG cargo voyage through the Northern Sea Route (NSR).    The subleased tanker will go through the NSR without the escort of icebreakers and will deliver LNG from Norway to South Korea in 15 days.

Flurry of Vessels Booked After Dutch Refinery Outage

File Image (CREDIT: AdobeStock / (c) Carabay)

At least 10 tankers booked from Mideast to Europe; freight rate for clean tankers up 11 percent from Monday.   Oil traders are rushing to secure vessels to ship refined fuel from the Middle East to Europe after a Dutch refinery outage made the route profitable, pushing freight rates to multi-month highs, traders and shipbrokers said on Thursday.

Fuel Removal from Grounded Kea Trader in Progress

Kea Trader. Photo: Lomar Shipping Limited

 Three weeks after the grounding of Kea Trader on a reef off New Caledonia, the removal of heavy fuel oil from the 2017-built containership is now underway and could be completed next week.   According to Radio New Zealand, helicopters are being used to remove fuel from a ship stuck on a reef off New Caledonia.

Dunkirk, Dunkerque Port Sign LNG Pact

Photo: Port of Dunkerque

 Dunkirk's LNG Terminal and Dunkerque-Port signed an agreement for the development of an liquefied natural gas (LNG) station to supply tank trucks.    The use of LNG by shipping has grown significantly in recent months with new projects (orders for ships, LNG supply stations, etc).    A month after signing the agreement,

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