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Tanker Market Retreats as Slower Week Sinks Rates

18/03/2019

VLCC
A slower week saw rates in all areas generally come under downward pressure. Early last week 270,000mt to China fixed at WS 66, but finished the week in the very low WS 60s. Going west, rates for 280,000mt to

IBIA contributes to IMO’s sulphur testing and verification framework

18/03/2019

Amendments to MARPOL Annex VI to help ensure consistent implementation of the global 0.50% sulphur cap, developed at the 6th meeting of the IMO’s Sub-Committee on Pollution Prevention and Response (PPR 6), will be sent for approval by the Marine

IEA: Oil Supply cushion insures against losses

16/03/2019

The electricity crisis in Venezuela has paralysed most of the country for significant periods of time. Although there are signs that the situation is improving, the degradation of the power system is such that we cannot be sure if the

U.S. Gulf Coast refinery demand for hydrogen increasingly met by merchant suppliers

16/03/2019

Petroleum refineries in the U.S. Gulf Coast increasingly rely on merchant suppliers, rather than their own production, to provide the hydrogen used to reduce the sulfur content of fuel. As global demand for distillate fuel oil has increased and sulfur

Another world first for Wärtsilä will deliver impressive fuel and emissions savings

15/03/2019

A benchmark installation of three energy storage systems by the technology group Wärtsilä onboard an offshore construction vessel features, for the first time ever, energy and load sharing capability. The system combines a diesel-electric configuration with batteries, and is designed

OPEC Revises Oil Demand Growth Downwards, Expects Supply to Pick Up

15/03/2019

Crude Oil Price Movements
The OPEC Reference Basket (ORB) rose in February for the second consecutive month, improving by about 9%, or $5.09, month-on-month (m-o-m) to average $63.83/b. Oil prices were supported by expectations of tightening oil supply in the

Maersk Tankers’ Bunker Adjustment methodology receives LR recognition

14/03/2019

Maersk Tankers uses the methodology Bunker Adjustment to distribute payments to pool partners based on the bunker consumption of their vessels compared to the pool average. The methodology has now been reviewed by Lloyd's Register, confirming its conformity to recognised

Brexit and foreign firms bring new jobs to Rotterdam

14/03/2019

Last year, eleven British firms set up in Rotterdam in anticipation of Brexit. They represent nearly a third of the international firms that established a location in the port city last year, according to Rotterdam Partners. The new arrivals include

World Premiere: IKEA, CMA CGM and The GoodShipping Program join forces to test sustainable marine bio-fuel oil

13/03/2019

IKEA Transport & Logistics Services, CMA CGM, the GoodShipping Program and the Port of Rotterdam have today announced they will cooperate in a first of its kind partnership to test and scale the use of sustainable marine bio-fuel oil. The

Increases in natural gas production from Appalachia affect natural gas flows

13/03/2019

The 2019 Annual Energy Outlook (AEO2019) Reference case shows continued growth of natural gas production in the Mid-Atlantic and Ohio region from the Marcellus and Utica formations, resulting in increases of natural gas being transported to the Eastern Midwest and,

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