Commodity trader Vitol is building a small-scale refinery in Malaysia, which will become part of the company's setup to supply low-sulfur fuel oil when the new sulfur regulations come into force.
At least twice the Danish foreign ministry was warned by US authorities that Dan-Bunkering was involved in jet fuel deliveries to Syria according to Danish media DR. The Danish fraud squad, intelligence service, business authority and local police were also warned. In spite of these warnings, delivery continued.
Shipbuilder Sembcorp Marine gets a big loan from its majority stakeholder, Sembcorp Industries. The credit facility will be used to strengthen the company, which is experiencing major decline on its key market.
US-based Exxonmobil now opens up to selling all its licenses on the Norwegian continental shelf, according to Norwegian media. The company currently has ownership stakes in more than 20 fields.
Norwegian shipbuilding group Ulstein reports a new major deficit for 2018. A large restructuring of the group has been "costly and time-consuming", CEO asserts.
Mining major Vale can now again start operations at its Brucutu mine in Brazil, which has been shut down since a tragic accident in another Vale mine in early 2019. The company maintains its expectations for its iron ore production this year.
US-based Anadarko invests USD 20 billion in an LNG project in Mozambique. A terminal will contribute to making the southeastern African country one of the largest LNG producers in the world.
Sole owner of Monjasa Anders Østergaard booked a 2018 profit of almost USD 7 million in his private investment company. He has greater expectations for 2019, he tells ShippingWatch.
South Korean shipbuilding yard DSME is part of a new partnership to develop digital ships, which are virtual copies of original ships. The copies can be used to predict performance and monitor operations onboard.
Defense lawyers advised former OW Bunker executive Lars Møller to appeal his sentence of one and a half years in prison. Friday, that sentence was increased to five years.
Two tankers were attacked in the Gulf of Oman Thursday, it is still unknown who is to blame. OW Bunker's former CEO in Singapore, Lars Møller, is going to prison for five years, Get an overview of this week's top picks.
Lars Møller, former CEO of OW Bunker subsidiary Dynamic Oil Trading, has just been sentenced to five years in prison by the High Court of Western Denmark. Read the sentencing here.
Norwegian oil service company Aker Solutions is getting a new CFO later this summer. He will replace the current CFO, who is moving to a similar position in the parent company.
OPEC notes that the trade war has caused oil demand to dip, but the oil cartel expects demand to increase for the full year – although less than previously estimated.
OW Bunker's management and owners were fully aware of the risks Lars Møller took at Dynamic Oil Trading, says defense attorney Arvid Andersen on Wednesday. A verdict is expected Friday.
Classification firm DNV GL enters strategic cooperation with Japanese Oshima Shipbuilding. Motivated by factors like the IMO's climate initiatives, the cooperation will explore new bulk vessel designs.
In its efforts to avoid bankruptcy, bunker shipping company Brightoil has sold three ships for a total of USD 200 million. The sale happened by order of a court.
A trade deal with China could push the US to the top of the list of LNG suppliers to China, projects Morgan Stanley. The bank says a deal could boost the US' share of Chinese gas imports to more than 20 percent by 2025.
The criminal case against former OW Bunker executive Lars Møller has entered its final phase. The prosecution demands, as in the district court, no less than five years in prison.
Dealing oil and petroleum products was the primary factor behind commodity trader Trafigura doubling its result in this year's first six months.
US President Donald Trump's customs tariffs on Chinese goods have changed several trade patterns since January 2018, says Drewry in a new analysis.
A new witness in the appeal case against former OW Bunker executive Lars Møller identifies significant levels of trust between the Singapore executive and OW Bunker's late former CEO Jim Pedersen. Former credit director points out that Møller had few limits imposed on him.
Norwegian company Corvus Energy has developed a new battery that can be used by cruise, RoRo and RoPax vessels. The new battery has no limit for how much it can be expanded, informs the company.
The case from August last year, when Danske Bank reported Dan-Bunkering to Danish authorities on a suspicion of supplying fuel to Syria was caused by mix-up in names, says the company. Dan-Bunkering, however, is not able to get the explanation verified.
A bonus scheme is a central point of the prosecution in the appeal case against former OW Bunker executive Lars Møller, who went to court on Monday. Møller is fighting for acquittal, while the fraud squad wants to increase the penalty.
Treasury Risk Manager with focus on financial risk management - Group Treasury, Bunker Holding
Executive, Operations - BW LPG
