Latest Maritime News
December 17-28, 2018
Twelve Months to D-Day: Is the Industry Ready for the Sulfur Cap?

As we head into 2019, the sulfur cap regulation remains top of the agenda for shipowners and operators. Effective enforcement of the regulation continues to be a daunting challenge for shipowners and regulators alike, and with only 12 months to the implementation date, the lack of robust enforcement mechanisms is giving rise to widespread concerns - and rightly so.

Fuel safety and quality

Alongside the enforcement challenges, shipowners and operators are faced with fuel compatibility and stability issues. With many shipowners expected to opt for low-sulfur fuels for compliance, it is likely that we will see new blended fuels appearing on the market.    Continue reading here (Source: The Maritime Executive).
China Expands its Sulphur Emission Control Areas

We refer to our alert “ Sulphur cap ahead! ” of 8 November 2018 notifying Members and clients of regional sulphur emission control requirements taking effect on 1 January 2019 in Hong Kong, Taiwan and Mainland China’s domestic emission control areas (ECA).

According to Gard’s correspondent Huatai Insurance Agency & Consultant Service Ltd., the Chinese Ministry of Transport (MOT) has now issued a new regulation which expands the geographic scope of China’s sulphur ECAs. A new Coastal ECA has been designated and includes all sea areas and ports within China’s territorial sea, as well as a specially designated ECA in China’s southernmost province Hainan, the Hainan Coastal ECA. In addition, two Inland ECAs have been designated which include parts of the Yangtze River and the Xi Jiang River. Continue reading here ( Source: Gard News).
The Top 10 Energy Stories Of 2018

As 2018 comes to a close, it's time to review the top energy stories of the year. This year there wasn't an overwhelming choice for the top story as we have had in some previous years (e.g., the Deepwater Horizon spill), but many of the year's biggest developments impacted oil prices.

Here are my picks for the stories that shaped the year in energy. Continue reading here (Source: Forbes).
Looking Back On A Wild Year For Oil Prices

For the oil market, 2018 has been a roller coaster ride. Ups and downs are always expected, but the twists and turns seen this year were exceptional by any standard.

In January 2018, oil prices had climbed to multi-year highs, with the supply surplus finally ebbing, after several years of a downturn and more than a year of production curbs by the OPEC+ coalition. Inventories were declining rapidly and Venezuela was entering a steep downward spiral that promised even more production losses. Brent topped $70 per barrel and seemed to be heading higher.

But what unfolded in the ensuing months nobody could have predicted. And that was true on many fronts. Continue reading here (Source: Oil Price).
Tanker Scrapping Hits 15-Year High

Describing 2018 as a “year of extremes” for the tanker trades, brokers Gibson note that this year has marked the highest number of tanker demolitions over the past 15 years. All in all, more than 150 tankers above 25,000 dwt have been sent to the recycling yards, with weak industry returns and attractive scrap prices offering a strong impetus to scrap.

At the same time, Gibson noted in its most recent weekly report the market has seen lower than expected number of new additions: over 25% of the tanker orderbook scheduled for delivery in 2018 has slipped into next year.

“The combination of robust demolition activity and a slower pace of tanker deliveries has meant that the growth in tanker supply has been fairly marginal,” Gibson observed. Continue reading here (Source: Splash 247).
Current Price Indications
*Prices are indications only. Please  contact us  for firm pricing.
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