The shipping industry is pressing for a phased start when tough new rules governing vessel fuel get under way in fewer than 16 months’ time. Three trade groups and four countries where thousands of ships are registered made a joint proposal to the International Maritime Organization on Aug. 31 for...
https://www.hellenicshippingnews.com/shipping-lobby-proposes-phased-start-to-historic-fuel-change/
Chinese steel mills and traders are rushing to secure long-term contracts for high-quality iron ore ahead of winter steel output cuts, a boon for the main supplier of such grades of the commodity, Brazilian mining giant Vale. China, the world’s biggest consumer of the steelmaking ingredient, needs...
World oil indexes have not had any firm trend during the week: fuel markets are trying to make sense out of both supply and demand questions as well as geopolitical uncertainty. OPEC downgraded demand while the IEA said in a report that supply outages are tightening up the oil market. MABUX World...
HHI has received an AiP during a presentation at Gastech – the leading exhibition and conference for the global gas, LNG and energy industries held 17-20 September in Barcelona, Spain – from LR for a VLGC design capable of using LPG as fuel. This development was the result of collaboration between...
German oil product trader Mabanaft’s marine fuel trading unit Bomin plans to close its Singapore and Antwerp, Belgium offices later this year, Bomin said. Bomin to operate only from Houston, Texas and Hamburg, Germany “The Bomin group is in a transformation and restructuring process and intense...
The ongoing weakness in Turkish economy and corresponding depreciation in Lira is making the country’s imports expensive. From the beginning of the second quarter, the Lira has depreciated by more than 50% against the US dollar and in addition, Turkey is also facing a trade tussle with the US. So...
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes are on fuel suppliers and whether they can provide what the industry needs. According to Niels Henrik Lindegaard, Managing Director of Maersk Oil...
https://www.hellenicshippingnews.com/shipowners-urgently-need-a-fuel-management-plan/
Trafigura Group Pte Ltd (“Trafigura”), one of the world’s leading independent commodity trading companies, has named the first of its 35 crude oil and product tankers being built in South Korea and China. Today’s naming ceremony took place at Hyundai Samho Heavy Industries’ shipyard in Jeolanam-do,...
https://www.hellenicshippingnews.com/trafigura-leases-35-crude-oil-and-product-tankers/
Singapore delivered bunker fuel demand is expected to see an uptick in September, compared with August when some shipowners opted to take their bunker fuel at other ports due to fuel quality concerns, market sources said this week. August bunker fuel sales in Singapore had dipped 9.2% year on year...
https://www.hellenicshippingnews.com/singapore-sep-bunker-demand-likely-to-rebound-from-aug-sources/
Yang Ming Marine Transport Corp. (YM) has announced to upgrade its China-Vietnam/Thailand service network effective on October 12th, 2018. The China-Ho Chi Minh Express Service (CHX) will be jointly operated by YM, Orient Overseas Container Line Ltd. (OOCL) and Regional Container Lines (RCL) with a...
https://www.hellenicshippingnews.com/yang-ming-to-upgrade-china-vietnam-thailand-service/