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Bunker market is on a way to rebalancing

World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement. However, last few days quotes turned into slight downward movement after US output and export data. MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO at [...]

By | November 6th, 2017|News|0 Comments

Asian, European shippers build fleets of megaships

Shippers increasingly are fielding immense vessels to cut the costs of transporting goods from Asia to Europe, but some fear the trend will keep freight rates at low depths. Voluminous vessels “Large vessels will provide substantial cost benefits,” Junichiro Ikeda, president of Mitsui O.S.K. Lines, said at a naming ceremony last month for the MOL [...]

By | November 6th, 2017|News|0 Comments

Hong Kong bunker fuel market faces supply woes on shipment delays

A delay in shipments to Hong Kong-based suppliers was putting the Hong Kong bunker fuel market under increasing pressure, traders said. The shortage stemmed from shipment delays amid severe weather in Northeast Asia over the past two weeks due to Typhoon Lan and Typhoon Saola affecting bunkering and port operations. Market participants expect the tightness [...]

By | November 6th, 2017|News|0 Comments

Shell holds large Forties crude position, books supertankers – sources

Royal Dutch Shell has built up a sizeable position in November-loading Forties crude which helps set the global Brent benchmark, trade sources said, and looks set to be sending three supertankers of the crude to Asia. Shell was reported on Thursday to have booked two VLCCs – New Vista and Ellinis – to take Forties [...]

By | November 6th, 2017|News|0 Comments

Tanker Market Looking To Take Advantage of New Dynamic in Oil Prices

The new oil market landscape which is shaping up can turn out to be a boon for tanker owners as well. In its latest weekly report, shipbroker Gibson said that “sentiment in the oil market has changed. Brent, which just a few months ago struggled to stay above $50/bbl now seems firmly above $60/bbl having [...]

By | November 6th, 2017|News|0 Comments

Tankers: Americas Aframax freight to steady at w90-w95 after 14% tumble

The cost of carrying crude oil from the Caribbean or the East Coast of Mexico to US Gulf Coast refineries in 70,000 mt Aframax tankers tumbled 14%, as an unusual amount of tonnage opened in the region with first decade November laycans, but shipbrokers do not believe the market will break Worldscale 90 as owners [...]

By | November 6th, 2017|News|0 Comments

Chinese Crude Imports: Upwards And Outwards

After China overtook the US as the world’s largest seaborne importer of crude oil in 2014, Chinese seaborne crude imports have continued to expand firmly, with imports in 2016 increasing by 16%. Whilst 2017 is expected to be another strong year of growth, albeit slightly slower than 2016, changes to China’s crude import patterns are [...]

By | November 4th, 2017|News|0 Comments

Havila Shipping Posts Reduced Third Quarter Operating Income

Havila Shipping ASA achieved an operating income before depreciation of NOK 39.0 million in Q3 2017, compared with NOK 112.6 million in Q3 2016. Total operating income was NOK 176.7 million in Q3 2017, compared with NOK 253.4 million in Q3 2016. The group had 25 vessels in operation as of 30/09/17. 23 vessels are [...]

By | November 4th, 2017|News|0 Comments

LNG shipping charter rates rise on firm spot demand, limited availability

Strong demand for LNG spot cargoes amid the limited availability of vessels is pushing up charter rates in both the Asia Pacific and Atlantic regions, providing a boost to the long depressed shipping market, market sources said this week. The Asia Pacific day rate was up almost 30% at $52,000/day Tuesday from $40,000/day in early [...]

By | November 4th, 2017|News|0 Comments

Asia Fuel Oil-380-cst premiums rise on higher deal value, crack discount widens

Cash premiums for Asia’s 380-cst high-sulphur fuel oil cargoes rose to a near one-month high on Friday amid higher deal values when compared to the previous session. Bids for 380-cst fuel oil cargoes were higher relative to Thursday in the Platts window but still failed to attract many suppliers, keeping traded volumes of physical fuel [...]

By | November 4th, 2017|News|0 Comments

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