MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) demonstrated upward changes on Sep.17: 380 HSFO – USD/MT – 294.26 (+2.50) VLSFO – USD/MT – 340.00 (+4.00) MGO – USD/MT – 411.29 (+3.77) Meantime, world oil indexes also increased on Sep.17 as OPEC and its allies said the producer group would crack down on countries that failed to comply with output cuts and planned to hold an extraordinary meeting in October if oil markets weaken further. Brent ...

At a virtual ICEPAG 2020 conference held from September 14 to 16, NYK Group company NYK Energy Transport (USA) Inc. (NETU) introduced the Group’s efforts to reduce vessel GHG (greenhouse gas) emissions to zero. The ICEPAG, or the International Colloquium on Environmentally Preferred Advanced Power Generation, is one of the world’s leading conferences on clean energy. The event is hosted annually by the University of California, Irvine; the National Fuel Cell Research Center; and others, and is attended by U.S. government officials, university researchers, and related companies. Kazumasa Taruishi, vice ...

To “keep engines running” and to remain “miles ahead”: these are just two key promises highlighted on BMS United’s new website, born after months of dedicated hard work. The company’s marketing department, which just announced the launch of the new website, had teamed up with Award-winning Athens-based agency Kommigraphics to develop the website strategy and design its brand new digital presence. The website’s mission is to inform the industry about BMS United’s worldwide services and to enhance the communication of the company with its audiences through a wide range of ...

North Sea Container Line, Northern Europe’s largest integrated shipping and logistics company has selected Globe Tracker, a leader in IoT (Internet of Things) tracking and monitoring solutions for logistics assets to install tracking and monitoring solutions for their reefer containers. The solution includes the latest in IoT technology that enables tracking of position, temperature, shock, reefer controller parameters and alarms to increase visibility and temperature compliance for North Sea Container (NCL) and their fresh salmon customers across the supply chain. “Globe Tracker gives NCL the opportunity to offer our customers ...

This year, Monjasa presents the largest batch of Monjasa Oil & Shipping Trainees (MOST) since launching the programme in 2018. A total of 12 new trainees join Monjasa’s offices in Dubai, Panama, Limassol, Singapore, Fredericia and Copenhagen and will attend academic modules with the Danish Shipping Academy. The marine fuels industry is facing growing complexity arising from shifting regulations and dynamic customer demands. In-depth maritime understanding and cultivating of trusted relationships remain central to Monjasa’s future traders, but in continuous volatile markets, shipowners’ service demands are shifting. By educating and ...

The Kingdom’s ports recorded a 12 percent increase in container handling operations during August as compared to the same period in 2019, according to data released by the Saudi Ports Authority (Mawani). A total of 664,000 more containers were handled during August. Saudi ports also recorded a hike in the transshipment with 225,000 containers marking an increase of 21 percent. The number of imported vehicles reached 39,000. The import of foodstuff rose by 20 percent and 181,000 heads of cattle were imported to the Kingdom in a month. Saudi ports, ...

The new rail shuttle rolled into Gothenburg on Wednesday afternoon, ahead of schedule. The terminal operator Sandahlsbolagen unloads and reloads the train at Arken Intermodal Terminal before returning to Oslo. Photo: Gothenburg Port Authority. A new weekly rail shuttle service has commenced, providing Oslo and Norway with a rapid, dependable, climate-smart link to the largest port in Scandinavia. The service is can transfer 2,000 trucks from road to rail, with a resulting reduction in carbon emissions of over 700,000 kg per year. “Somewhat boastfully we usually say that we are ...

India’s imports of thermal coal fell by 41.5% to 32.9 million tonnes during the quarter ended June 30, government data showed, as coronavirus lockdowns battered power demand. India’s electricity demand is expected to fall for the first time in four decades in the ongoing fiscal year, which ends in March 2021. Imports by utilities, which account for over three-fourths of India’s coal use, fell 41%, the government data showed, as coal’s share in overall power generation dropped to as low as 60% during the quarter, compared with 2019 average of ...

Japan’s crude oil imports will likely remain at the current tepid pace until the end of 2020, having slowed to a multi-decade monthly low in July following the spread of the coronavirus pandemic, which had slashed domestic oil demand, the Petroleum Association of Japan’s president Tsutomu Sugimori said Sept. 17. “I believe it will likely remain at the current level [until the end of the year],” Sugimori said at a press conference in Tokyo, when asked to comment about Japan’s crude import outlook beyond October. Japan’s crude imports had fallen ...

Global ethanol markets are not expected to recover fully at least until 2022 from the demand shock caused by the coronavirus pandemic, which led to a 20% cut in annual global production expectations after more than 250 ethanol plants were seen shutting down globally, Brian Healy, director of global ethanol market development with the US Grains Council, told the Asia Pacific Petroleum Conference, or APPEC. In 2019, global ethanol production was estimated to be around 113 billion liters, compared with about 108 billion liters in 2018, according to S&P Global ...

Stocks of imported iron ore sintering fines held by the 64 Chinese steelmakers under Mysteel’s weekly survey ended their four-week decline over September 10-16 to climb to 17.7 million tonnes, according to Mysteel’s latest data released on Thursday. Most steelmakers have been accumulating inventory for smooth production over the upcoming National Day holidays, industry watchers explained. “With the upcoming National Day holiday (over October 1-8), Chinese steel mills may need to increase their replenishment moderately to maintain normal production when suppliers such as traders and transport firms are off enjoying ...

Oil prices rose for a fourth day in a row on Friday, putting crude on track for a weekly gain of about 10%, after Saudi Arabia pressed allies to stick to production quotas and banks including Goldman Sachs predicted a supply deficit. Brent crude LCOc1 was up 18 cents at $43.48 a barrel by 0756 GMT while U.S. oil futures CLc1 rose 17 cents to $41.14. Both contracts are set for their strongest weekly gains since early June after Hurricane Sally cut U.S. production and OPEC and its allies laid ...

The coronavirus pandemic has led to a shift in the tanker sector’s supply-and-demand dynamics, with the floating storage bonanza that caused freight rates to spike higher set to provide three bumper quarters in 2020, according to Hugo De Stoop, CEO of Euronav, one of the largest global tanker operators. De Stoop said in an interview with S&P Global Platts on Sept. 7 the current “oil crisis” has affected many people in many directions in terms of investment capacity, with an intensification of temporary storage used as a buffer forming a ...

Oil prices have plunged during the pandemic and the sector’s crisis could get worse as new investments are unlikely to flow in, experts said at an energy conference this week. Pandemic-related movement restrictions stopped people from commuting and traveling, drastically reducing oil usage. Earlier this year, the May contract for U.S. benchmark West Texas Intermediate crude plunged deep into negative territory for the first time in its history. Overall, oil prices have dropped around 40% since the start of the year. With the poor performance across the industry, analysts at ...

Opec+ could hold an extraordinary meeting in October if oil markets weaken further, Saudi Energy Minister Prince Abdulaziz bin Salman said, according to an Opec+ source. Brent oil prices extended their gains to trade up 1 per cent on the news, near US$43 per barrel. Prince Abdulaziz was speaking at a closed-door meeting of Opec and its allies, led by Russia, which pressed for better compliance with oil output cuts against the backdrop of falling crude prices as uncertainty reigns over the global economic outlook. The group, known as Opec+, ...