Weaker Scrubber Demand Takes Shine Off Alfa Laval’s Results

STOCKHOLM, July 17 (Reuters) – Sweden’s Alfa Laval reported a fall in quarterly orders on Wednesday on weaker-than-expected demand for ship exhaust cleaners and pumping systems, sending its shares sharply lower. Demand for so-called scrubbers which strip out sulphur from marine fuel has boosted the engineering group as well as Wartsila in the past few […]

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Iran Says Missing Tanker Had Problems and Was Towed for Repairs

(Bloomberg) –A small oil tanker that had gone missing in the Persian Gulf had technical difficulties and was towed into Iranian waters for repairs, an Iranian foreign ministry official said, according to the ISNA news agency. Further details on the ship, the Panamanian-flagged Riah, will be announced later, Foreign Ministry spokesman Abbas Mousavi said, according […]

MSC Gayane Released on $50 Million Bail

The MSC Gayane is back underway to Rotterdam minus the nearly 20 tons of cocaine seized from the ship last month after the owner and operator posted a $50,000 bail for the release of the vessel. United States Attorney for the Eastern District of Pennsylvania, William McSwain, wrote on Twitter that his office had secured […]

How Great Shifts in Oil Market Calmed 2020 Ship Fuel Panic

By Jack Wittels – (Bloomberg) –As recently as a year ago, the oil market was in a panic about changes to the kind of fuel that ships must burn. A senior executive called the switch the biggest change to the oil industry ever. Traders were anticipating a bonanza. The shipping industry was warning about potential […]

Asia Refiners Test the Waters with Exports of IMO 2020-Compliant Fuel

By Jane Chung and Florence Tan SEOUL/SINGAPORE, July 16 (Reuters) – Refineries in Taiwan and South Korea are testing the market for fuels that meet new rules for low-sulphur ship fuel starting next year, exporting some cargoes of very low-sulphur fuel oil (VLSFO) this month. Oil market participants are uncertain what kind of fuel product […]

Pirates Kidnap Ten Turkish Sailors Off Nigeria

ANKARA, July 16 (Reuters) – Ten Turkish sailors were taken hostage by armed pirates who attacked a Turkish-flagged cargo ship off the coast of Nigeria, the vessel’s owner said on Tuesday, adding that another eight sailors were left safely aboard. Turkey’s foreign ministry said the sailors were seized on Saturday evening. After the pirates left […]

Gulf of Mexico Oil and Gas Producers Begin Restarting After Barry

By Erwin Seba HOUSTON, July 15 (Reuters) – U.S. oil companies on Monday began restoring some of the nearly 74% production that was shut at U.S. Gulf of Mexico platforms ahead of Hurricane Barry, the U.S. offshore drilling regulator said. There were 1.3 million barrels per day (bpd) of oil production offline in the U.S.-regulated […]