All Business News
Singapore: Troubled Zenrock Commodities rumoured to be winding down in August
Zenrock is in debt upwards of USD 166 million as of April, and is said to be winding down with employees leaving by August, reports The Business Times.
Jul 08 2020
Integr8 Fuels: Fuel oil tightness means shipowners pay more for bunkers in ARA
Vessels previously going to ARA ports would not consider bunkering elsewhere; however, it is now recommended to check the price at alternative ports.
Jul 08 2020
Singapore: Banks collaborate to develop best practices for commodity financing
Backed by several government agencies, banks will be consulting trading companies to strengthen Singapore’s competitiveness as a global commodities trading hub.
Jul 07 2020
China Merchants Energy Shipping wholly acquires Singapore bunker trading firm CMET
CMES has agreed to acquire 70% of equity ownership in Singapore-based bunker trading company China Merchants Energy Trading for USD 16 million in cash.
Jul 07 2020
Ardmore Shipping declines merger with parent company of Hafnia Bunker Services
Hafnia said it is disappointed by Ardmore’s response and continues to believe that its proposal is in the best interests of Ardmore’s shareholders.
Jul 07 2020
Hamburg: Low bunker prices induces government to waive traffic dues at Kiel Canal
A decline in traffic brought on by low bunker prices would lead to a competitive disadvantage at the canal compared to longer alternate routes which are free of traffic dues.
Jul 07 2020
Global bunker markets catch up with reality of economic lockdowns in Q3 2020
Until recently, bunker fuel sales […] were buoyed by opportunistic restocking, but sales volumes have since caught up with the reality of slowing global trade, notes consultancy.
Jul 07 2020
CIMB requests for Hontop Energy restructuring amid suspicious transactions with BP
CIMB is looking to recover USD 105 million that it has lent to the company and Hontop owes approximately USD 470 million to seven creditors, reports Reuters
Jul 06 2020
Yang Ming Transport Corp achieves IMO 2030 target 11 years ahead of schedule
Firm had already set out long term plans to implement fleet modifications, GHG emission monitoring systems and switching to VLSFO bunker fuel 10 years ago.
Jul 06 2020
Canada Business Holdings to invest USD 1.5 billion for LSFO bunker fuel refinery in Oman
Refinery located outside the Strait of Hormuz has a planned capacity of 300,000 BPD in phases and the project has an expected ROI of 22% per annum.
Jul 06 2020
Argus Media: Spanish bunker fuel sales decline accelerates in May 2020
Las Palmas was an outlier, with bunker deliveries up by 11% on year, becoming Spain’s largest bunker port in Q1, because of competitive prices, according to suppliers.
Jul 06 2020
Indonesia: Bunkering locations for LSFO marine fuel expand during first six months of IMO 2020
The local bunkering sector has adapted to IMO 2020 requirements and LSFO is now available at more than two earlier locations, notes bunker supplier Trillion Energy.
Jul 03 2020
Sinopec Qingdao produces record 110,000 mt of IMO 2020 compliant bunker fuel in June
This is the highest ever recorded output in a single month and the feat was also in recognition of the Chinese Commmunist Party’s 100th Anniversary, it said.
Jul 03 2020
Monjasa redesigns and renames 10 tankers with in-house ship management company
Monjasa Provider got her new name and look painted during her Special Survey in Spain, before resuming refuelling operations in the English Channel.
Jul 03 2020
Argus Media: Dutch bunker supply up for April, despite Covid-19
The monthly average supply volume has been nearly 1mn t in the first four months this year, suggesting bunker demand has shifted from other countries to the Netherlands.
Jul 03 2020
Global Risk Management welcomes Kevin O’Reilly as Chief Commercial Officer
‘The fit to the position as CCO is excellent as Kevin has deep knowledge within commodities trading and sales as well as profound management experience,’ said MD.
Jul 03 2020
Italian barge companies form venture to perform bunker deliveries and boost operations
Anapo has committed its Mersey Spirit and Rimorchiatori LazialI its Magic Duba to the fleet, while Bunker Energy is in charge of sales for the venture.
Jul 02 2020
Argus Media: Japan’s Idemitsu raises VLSFO bunker fuel output
Idemitsu forecasts the Chiba residue desulphuriser will increase its output of VLSFO by 3.15mn bl/yr while cutting output of HSFO by 3.77mn bl/yr, it said.
Jul 02 2020
Glander International Bunkering appoints Rune G. Kongstein as Managing Director
Kongstein has 31 years of experience in the bunkering and shipping industry, a portfolio of senior management roles and a track record of operational results.
Jul 02 2020
Ultimate parent company of Bunker Holding records $150 million profit for FY 2019/20
Bunker Holding Group does not expect a repeat of the good results for the new financial year 2020/21 due to decline in world trade and markets.
Jul 01 2020
Shell braces for expected USD 22 billion write down as impact of COVID-19 hits
Write down based on mid and long-term prices, refining margin outlook post COVID-19, related macroeconomic energy market demand and supply fundamentals.
Jul 01 2020
