MABUX warns bunker prices may be vulnerable amid the uncertainties on both the supply and demand side

World oil indexes rallied last week to their highest level since November 2014 supported by disruptions in the Gulf of Mexico related to Hurricane Michael. However there is downward correction on the market at the moment: API reported a major build of 9.75 million barrels of United States crude oil inventories for the week ending [...]

By | October 15th, 2018|News|0 Comments

Pacific Basin Boasts Vessel Earnings Hike

Hong Kong-listed dry bulk shipping company Pacific Basin Shipping Limited saw a significant hike in vessel earnings in the third quarter of the year. Handysize and Supramax daily time-charter equivalent (TCE) earnings were USD 10,080 and USD 12,180 per day net respectively in the third quarter, representing an improvement of 24% and 30% year-on-year. The [...]

By | October 12th, 2018|News|0 Comments

First Vessel from E.R. Capital Holding Joins Star Bulk

Greece-based shipping firm Star Bulk Carriers has expanded its fleet with a secondhand dry bulk vessel, the ER Brighton. Renamed to STAR BRIGHT, the unit is the first of three firm bulkers purchased from Germany’s Erck Rickmers (E.R.) Capital Holding. It was acquired for a combination of cash and shares. Following this delivery, the company [...]

By | October 12th, 2018|News|0 Comments

Donald Trump Is Rerouting the World’s Oil Tankers

U.S. President Donald Trump is redirecting global oil flows. West African and Latin American producers are sending ever-growing volumes of crude to China. America’s exports to the Asian country have slumped in favor of its neighbors. There’s an urgent global need to find replacement barrels for Iran’s, whose exports might just collapse next month. The [...]

By | October 12th, 2018|News|0 Comments

Liberia creates Offshore and Gas Technology Department

Liberia, the fastest growing major open registry in both shipping and offshore, has established its Offshore and Gas Technology Department, renewing the Registry’s focus in these sectors. This department strengthens Liberia’s presence in the offshore and gas sectors and is a response to the Registry’s unprecedented growth in 2018. Long trusted as a leading “expert [...]

By | October 12th, 2018|News|0 Comments

Stena Bulk in partnership with Bay Crest Management for expansion in Asia

Golden-Agri Stena, since 2012 a joint venture between Stena Bulk and Golden Agri-Resources, has started a new joint venture, GSB Tankers, together with Bay Crest Management. GSB Tankers is set up to undertake the operation and commercial management of chemical tankers. GSB Tankers will commence operation on 1st January 2019, out of the existing premises [...]

By | October 12th, 2018|News|0 Comments

China’s sulfur limit on marine fuels from Oct 1 worsens gasoil supply

Following the implementation of the 0.5% sulfur limit on marine fuels for all vessels in China’s Yangtze Delta Emission Control Area from October 1, demand for low sulphur marine gasoil has tightened the already short supply. Previously, 0.5% or less sulphur fuel only has to be burned while vessels were at berth, or one hour [...]

By | October 12th, 2018|News|0 Comments

Asia shipping Q3: Panamax, Supramax markets hold steady, Capesize sees volatility

Volatility plagued the Asia Pacific Capesize market in the third quarter on the back of finicky weather and China’s hunger for better quality long-haul seaborne iron ore. The second quarter was also mired in volatility with typhoons delaying vessels in North Asia, causing tonnage tightness in the Atlantic market. While the quarter started off on [...]

By | October 12th, 2018|News|0 Comments

The EU calls Baleària’s project of switching to LNG engines in five ships in its fleet “excellent”

The European Union has classified the project submitted by Baleària for the call for CEF (Connecting Europe Facility) funds as “excellent”. Its aim is to switch to liquid natural gas (LNG)-powered engines in five of its ferries. The European Commission has granted the shipping company a subsidy of a maximum of €11,797,424 (of the 15 [...]

By | October 12th, 2018|News|0 Comments

AET names LNG dual-fuel aframaxes: Shell-chartered vessels built by SHI amongst first to enter into service

AET, one of the world’s leading petroleum and chemical tanker owners and operators, named its first LNG dual-fuelled aframax vessels, Eagle Brasilia and Eagle Bintulu. The vessels were inaugurated at a ceremony held at the Samsung Heavy Industry Co Ltd’s (SHI) shipyard in Geoje, South Korea. Both vessels have been taken on long-term charter by [...]

By | October 12th, 2018|News|0 Comments