GAC Bunker Fuels Ltd. awarded ISO 9001:2008 Management System Standard certification by DNV. The ISO 9001:2008 certificate awarded by Det Norske Veritas (DNV) recognises GAC Bunker Fuels’ best management practices in the trading and brokerage of marine fuels and lubricants across its global operational sites. It demonstrates the company’s full compliance with the requirements of this international best practice standard, which considers a range of measures, including management responsibility, resource management, product quality and the improvement of quality management systems across the organisation. Nicholas Browne, Global Director of GAC Bunker Fuels Limited, says: “Quality assurance has been the guiding principle behind GAC Bunker Fuels’ growth. Our ISO 9001 certification gives customers further reason to rest assured of top service quality standards and the highest grades of marine fuels and lubricants when they deal with us. "As one of the few bunker companies to achieve this global benchmark, GAC Bunker Fuels underlines its continuing commitment to the pursuit of world-class standards and ongoing service improvement to help our customers to meet their bunker fuel needs and deliver their business strategies." GAC Bunker Fuels Ltd, headquartered in Dubai, trades and supplies all grades of IFO, MGO, MDO and lubricants worldwide in partnership with selected suppliers who meet internationally approved standards.
GAC Bunker Fuels says it has further consolidated its position in the North Sea by appointing Per Steffen Bolstad to the bunker trading team in Bergen, Norway, where he joins bunker trader Christer Benjaminsen. Nicholas Browne, Global Director of GAC Bunker Fuels says “Per Steffen has eight years’ shipping experience, and was mostly recently Branch Manager in Bergen. He is yet another quality addition to our global bunker trading team
As a result of recent declines in bunker fuel prices, Matson Navigation Company will lower its fuel surcharge in its Hawaii, Guam/CNMI and Micronesia services by one percentage point, from 19.75 percent to 18.75 percent, effective November 5, 2006. "Bunker fuel prices continue to decrease, allowing us to make this second consecutive reduction to our fuel surcharge," said Dave Hoppes, senior vice president, ocean services
Taiwan's Chinese Petroleum Corp. (CPC) has cut spot bunker fuel oil prices to $171 per ton from $181 effective from Tuesday. The posted prices were for spot 180 and 380-centistoke bunker fuel delivered to ships at the ports of Kaohsiung, Keelung, Hualien, Taichung and Suao. Its term price was $3.00 lower at $168 for both grades at the same ports. Spot and term prices of marine gas oil (MGO) were reduced to $312 and $309 per ton, down from last week's $314 and $311, respectively
The move to burn 1% RMG 380 spec & other bunker fuel may tighten inventories following the ECA imlementation 1, Ausgust 2012 The stock of available bunker fuels may be tightened as suppliers juggle limited space with increasing selection for shipowners and buyers, according to Platts' market sources The primary concern associated with the implementation of the new ECA specs has been the cost involved with moving to low sulfur fuel oil as less and less LSFO is being produced
GAC Bunker Fuels and its local partner in Sri Lanka, Interocean Energy (IOE), have moved the bunker barge MT 'Kandy' to Galle to meet growing demand for bunker supplies at the port on the southern tip of the island nation. Thanks to its proximity to international east-west shipping lanes, Galle is a popular choice for vessels taking on supplies. For more than two decades, the GAC Group has taken advantage of that strategic location
Shell Marine Products (SMP), the global supplier of marine fuels, lubricants and services, announced the start-up of its bunker fuels operations in Mobile, Ala. The company already has a strong business base in the USA Gulf Coast region, supplying bunker fuels and lubricants, and has expanded its geographic coverage to offer fuel oil, gas oil and lubricants to customers in Mobile. Shell Marine Products has fuel oil storage facilities in Mobile Harbor located at Radcliff/Economy Terminal
BP Marine and Houston Marine Services (HMS) are joining forces to begin a new chapter in ship bunkering in the western U.S. Gulf. Effective, April 2, HMS became BP's dedicated logistics provider in an area from Brownsville, Texas to Lake Charles, La. BP Marine will serve as the marketing arm for bunker sales on behalf of the joint venture and will supply bunker fuel across a broad geographic area of the Gulf.
Teppco Partners LP said it has purchased 19 boats and 28 barges from TransMontaigne Product Services Inc. for $50 million, according to a report on Forbes.com. Teppco said the new vessels will be used to deliver bunker fuels for cruise liners and cargo ships and fuel oil for power plants. The vessels will join Teppco's fleet along the U.S. inland waterway system and the Gulf of Mexico and are based in Miami, Mobile, Ala., and Houston.
Major oil companies, trade firms to expand market share; tight credit hits small retailers. The collapse of OW Bunker in the wake of an alleged fraud at its Singapore trading unit will shake up the city state's more than $25 billion marine fuel market, the world's largest, as major companies expand and small ones shrink amid a credit squeeze. OW Bunker, a leading supplier of marine fuel oil known as "bunker"
The London P&I Club has advised its members on precautions to adopt to detect the presence of cappuccino bunkers. In the latest issue of its StopLoss Bulletin, the club explains that the cappuccino effect is essentially the frothing or bubbling effect caused by compressed air blown through
INTERTANKO’s documentary committee has launched bunker surcharge clauses for Emission Control Areas (ECA). Rising bunker prices due to rising oil prices and volatility in global politics can have a dramatic effect on trade as they fluctuate not just day to day, but also port to port
Teekay Tankers Ltd. announced that it will acquire four coated Aframax tankers and one uncoated Aframax tanker for an aggregate purchase price of approximately $230 million. The five vessels, which are expected to be delivered in the first quarter of 2015, were constructed in 2008
Denmark has arrested a former manager of collapsed ship fuel supplier OW Bunker and intends to hand him to Italy, where he is suspected of fraud, the Danish public prosecutor said on Thursday. A statement from the prosecutor's office did not disclose any details
LNG America announced it has entered an agreement with Buffalo Marine Service, Inc. (Buffalo Marine) to cooperate on the design of an LNG bunker fuel network for the U. S. Gulf Coast region. LNG America is developing a hub-and-spoke delivery system for LNG as fuel for the marine market and
Singapore, the world's biggest bunkering port, plans to end the so-called "cappucino effect" in ship fuelling through new meters designed to stop suppliers from short-changing customers, although the industry is warning of a short-term sales dip.
Shipping companies and bunker oil traders scrambled to source fuel and take over supply contracts on Thursday after OW Bunker, one of the world's biggest shipping fuel firms, said it faces possible bankruptcy after uncovering internal fraud.
Traders and shipping companies scrambled to source fuel and take over supply contracts on Friday after Danish marine fuel supplier OW Bunker said a suspected fraud at its Singapore subsidiary had pushed it to the brink of bankruptcy. The alleged fraud at Singapore-based subsidiary Dynamic Oil
Fuel barge Laguna, carrying oil sold by Hin Leong to OW Bunker, arrested. Total claims against OW Bunker Far East and Dynamic Oil now over S$5 mln. Oil firms stepped up legal action against the Singapore units of bankrupt ship fuel trader OW Bunker with the arrest of a ship fuel delivery barge
OW Bunker owes financers more than $750 million-creditor data; six more vessels arrested; 7 in total. The Singapore arm of bankrupt Danish shipping fuel trader OW Bunker will meet with its liquidator KPMG in early December to discuss the firm's outstanding debt, which totals almost $1
Nordic American Tankers Limited Chairman & CEO Herbjørn Hansson addressed the impacts of low oil prices on the tanker business in a letter to shareholders, citing the decrease in oil price as an overall positive for the world tanker market and possible trigger for the recent rate
Though OW Bunker’s collapse has varyingly affected many companies around the globe, Danish bunker fuel provider Monjasa A/S said in a statement that the news holds an “insignificant commercial impact” for its business as the company has had only limited financial exposure towards
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as $1 million a year if current price level stay put. Assuming a difference from the average of first half of 2014 at $578 for 380 cSt, High Sulphur Fuel Oil (HSFO) in Rotterdam, to a new level of $412
The shipping industry is fully committed to total compliance with the 0.1% sulphur in fuel requirements, in Emission Control Areas, from January 2015. And there is no reason to suggest that there will not be full compliance, says the industry’s global trade association
Swiss trading house Mercuria has moved to become a significant player in the marine fuel market by hiring a team of close to 40 former employees from the once-largest supplier, traders and sources close to the matter said on Tuesday. The bankruptcy of Denmark's OW Bunker