The Global bunker market continued its recovery in 2023 with a moderate correction downwards following the peak values of 2022. As of December 25, 2023, the global index 380 HSFO demonstrated a notable increase of 36.14 USD, rising from 484.96 USD/MT at the beginning...

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Maersk Tankers has acquired Penfield Marine to create a large-scale crude and product tanker company offering pool partners and cargo customers a wider range of services. The combined company will manage around 240 vessels, including approximately 45 vessels owned by...

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The fuel oil market in Asia remained at the risk of downside as of Thursday, while onshore stockpiles at key trade hub Singapore rose for a third straight week. Inventories hit about nine-month highs, led by stronger import volumes from Russia and Indonesia, official...

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Chinese refiners asked for less Saudi crude oil for February, people with knowledge of the matter said on Thursday, even as the world’s top oil exporter conducted its biggest price cut in 13 months. About 38.5 million barrels were nominated by Chinese refiners for...

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Tightening fleet capacity, lingering geopolitical conflicts and robust US crude exports are expected to boost tanker freight in 2024 despite ongoing OPEC+ supply cuts and a possible slowdown in oil demand growth, market participants and analysts said Jan. 8. A flurry...

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Nippon Yusen Kaisha (NYK), the major Japanese shipping company and among the world’s largest owners and operators of LNG carriers, has ordered 4 × 2 × 5G70ME-GA Mk. 10.5 engines in connection with the construction of 4 × 174,000 cbm. LNG carriers. All eight engines...

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