Majority of the sum comprised of USD 101,403.78 awarded to the bank as part of an earlier arbitration decision on 14 February 2019.
Netherlands-flagged cargo vessel was detained 22.2 nautical miles southwest of Kendi Island while anchoring.
China’s fuel oil tax rebate may lower bunker prices, especially in Asian shipping hubs, says FIS’ Chris Hudson.
Initial exports of bunker fuel may be limited due to focus on developing domestic coastal bunker fuel market.
Reduction of air pollutants will be addressed differently in the future as shipping industry continues decarbonisation.
Ecuadorian reliance on imports and lack of local LSFO refiners could keep Ecuador’s prices less competitive.
Acquisition broadens service offering, customers base and increases storage capacity to 150,000 barrels.
By plugging into an onshore electricity, ships calling at port can shut down their auxiliary engines.
NIMR’s bunker barge will carry an initial capacity of 5,000 mt of MGO, VLSFO and marine lube.
Services to reduce risk of excessive BAFs, better control over fuel portion of ocean freight rate.
