Recent News

Hellenic Fleet Value up by $5 Billion in 2018, at $105.2 Billion


The Greek fleet has increased its total value by over USD 5 billion in one year. This is the second biggest increase in value for any of the top 10 shipping nations. The total asset value of the Greek owned fleet has topped USD 100 billion, a significant milestone.

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Contamination fears fuel calls for greater bunker transparency ahead of 2020


Calls are growing for greater transparency in the bunker industry ahead of the 2020 global sulphur cap.

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Product Tanker Owners’ Fortunes to Improve In Second Half of 2019 on New Refinery Additions


Product tanker owners could potentially see rates improving during the second half of 2019, as a number of new refineries will hit the market. In its latest weekly report, shipbroker Gibson said that “according to a recent IEA report, 2019 is expected to see the largest wave of refinery capacity additions since the 1970’s. The Agency expects that 2.6 million b/d of new capacity will initiate operations this year. In terms of pure volumes, this is of course a bullish sign for the product tanker market, but what really matters is how global product flows shape up”.

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IBIA defines the new regulatory BDN to be launched in 2019


IBIA reminds the industry that new regulatory requirements under MARPOL Annex VI, regarding the information to be included in the bunker delivery note (BDN), will enter into force on 1 January 2019. That is why, IBIA provides practical advice and dispel some of the misunderstandings regarding the responsibility of suppliers.

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Greek Shipowners advise IMO to ensure future-fuel compatibility


London-based Greek shipowners have urged the IMO to bring together oil companies, marine equipment makers and classification societies to guarantee fuels created to comply with 2020 environmental rules do not damage engines and cause accidents.

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Sinopec Shanghai refinery produces low-sulphur bunker fuel


Sinopec’s Shanghai refinery produced its first set of low-sulphur bunker fuel, amounting a total of 6,000 tonnes. The Shanghai refinery now became the first in China to produce low sulphur fuel oil, in order to comply with upcoming IMO rules.

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