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Marine Bunker Fuel News

14 Dec 2023

Singapore Port Authority Seeks Methanol Bunker Supply Proposals

© NPershaj / Adobe Stock

Singapore's Maritime and Port Authority (MPA) said on Thursday it was seeking proposals from companies to supply methanol as a marine bunker fuel at Singapore from 2025.The call emerged ahead of an expected uptick in methanol-powered ships, as companies ramped up orders of such vessels amid plans to cut carbon emissions with cleaner fuels.The proposals have to look into methanol supply sources, the bunkering operation model at a commercial scale and ways to physically transfer methanol.The move is aimed at scaling up methanol bunker supply at Singapore…

04 Jan 2022

China Ramps Up LSFO Production 30%, backing Bunker Fuel Hub Ambitions

Copyright masterskuz55/AdobeStock

China more than halved the volume of export quotas for refined fuel, predominantly gasoline, diesel and aviation fuel, under the first allotment for 2022, while raising the allowances for low-sulphur fuel oil by 30%, industry sources said on Tuesday.The deep cuts to refined fuel, largely expected by the market, was in line with the Chinese government's recent policy to curb excessive domestic refinery production amid a broad plan to reduce carbon emissions, the sources said.Quotas for refined fuel exports totalled 13 million tonnes under the batch…

03 Dec 2020

Did You Know?: 47% of all Newbuild Dry Bulkers Sport Scrubbers

Source: BIMCO

We have known it all along; the bigger the bunker fuel consumption of the ship, the more likely it is that shipowners will choose an SOx scrubber as the tool to comply with the IMO 2020 sulfur cap.Whiles only three Handysize bulkers in total have been delivered from the newbuilding yards with a scrubber fitted in 2020, one in three Handymax bulkers were delivered with scrubbers installed.Most scrubber-fitted bulkers were delivered in the Panamax sub-sector, that saw 81 units out of 150…

11 May 2020

BIMCO: 2020 and the Collapse of Bunker Fuel Markets

Source: BIMCO

The sulfur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the center stage in the shipping industry at outset of the new decade. Four months on, the spotlights have turned to the coronavirus and the OPEC+ oil price war.The outlook for global economic growth remains bleak as the world is faced with the largest recession since the Great Depression in the 1930s.Commodity prices have declined across the board and most recently…

24 Aug 2018

Clean Arctic Alliance Welcomes Russian-Finnish Deal on Green Fuel

The Clean Arctic Alliance welcomes the joint statement by  Russian President Vladimir Putin and Finnish President Sauli Niinisto on the need to move to cleaner ships’ fuels such as LNG in the Arctic.Speaking on behalf of the Clean Arctic Alliance, Alexey Knizhnikov of WWF Russia said that “the risks of using heavy fuel oil in the Arctic are too high, and we welcome President Putin and President Niinisto’s vision and leadership in seeking to move to cleaner fuels for Arctic shipping. We should now expect that the Russian Federation’s position on the HFO issue will be adjusted in line with President Putin’s statement, and we hope to see…

10 Aug 2018

China Ministry Seeks Feedback on LNG as Marine Fuel

© vladsv / Adobe Stock

China's Ministry of Transport said on Friday it is soliciting feedback from oil companies, shipowners' and port associations, and marine authorities for a plan to use liquefied natural gas (LNG) as a marine bunker fuel.China will expedite the planning and siting of key berths for LNG tankers in the Bohai Bay area of northern China, as well as along its main rivers, the ministry said.The ministry has asked companies and agencies to give feedback by Aug.

16 Jun 2017

CEFC Bags Bunker Licence for Zhoushan Free Trade Zone, China

CEFC China Energy was awarded a licence by Zhoushan Free Trade Zone for supply  marine bunker fuel off the east coast of China to vessels on international voyages, reports Reuters. The report quoted two CEFC officials saying that the license is to supply bunker fuel from bonded storage to vessels that call at the Zhoushan area. The Zhoushan Free Trade Zone is in the coastal province of Zhejiang and is a new free trade zone the Chinese government approved earlier this year to boost commodities trade. Chinese media yicai.com reported last week that three other companies including Zhejiang Energy Group, Jiangsu CNPC & Tafo Petroleum Corp and a unit of privately run Herun Group were also given licenses. Those permits bring the total number of tax-bonded bunker licenses in the country to nine.

07 Dec 2016

Refining Capacity Growth to Exceed Demand Until 2020 -Forecast

© katatonia / Adobe Stock

Until 2020, global refining will move toward lower utilization and margins as capacity growth exceeds demand, according to energy industry data and analytics specialist McKinsey Energy Insights (MEI). Post-2020, however, market conditions are expected to improve with higher demand for distillates due to marine pollution (MARPOL) regulations. MEI’s latest Global Downstream Outlook notes the last two years have seen major shifts as a result of falling crude price, a subsequent rise in global product demand and the fuel / oil balance.

24 Dec 2015

The Impact of Lower Oil Price on LNG Vessels

Opec study on the impact of lower oil price assumptions on the penetration of LNG vessels has released. In light of the regulations on sulphur emissions issued by the IMO the prospect of using LNG as an alternative bunker fuel was explored. It was concluded that LNG had the potential to become an important marine bunker fuel in the long-term. This year the subject is re-considered in light of recent market and price developments, as well as the continuing uncertainty surrounding the implementation of new IMO regulations. These new regulations are supposed to be implemented at a global level on all shipping vessels by 2020. It obliges shipping companies around the world to either install exhaust scrubbers or switch to more expensive low sulphur (0.5%) gasoil.

09 Nov 2015

Tanker Futures Market Booms as Rates Rally

Freight forward agreement (FFAs) trade rises. The market for hedging oil tanker freight has revived sharply this year to a value of $4.5 billion after years of torpor, with ship owners looking to profit from a freight rally and more energy companies scramble to cover risk, industry sources say. Cheap oil bargain hunters after the price drop and refineries, which have been operating at unusually high levels to meet rising demand, have helped tanker markets experience their best earnings in years after a long period of losses. Rates for crude supertankers have soared in recent weeks to over $100,000 a day - their highest since 2008. In tandem…

10 Oct 2013

Intertek Grows Global ShipCare Global Coordination Center

Darlington, UK-based Intertek has expanded their Darlington UK ShipCare Coordination Centre to better support their growing international marine services of fuel and lube testing, inspection and technical expertise. Intertek provides ShipCare services in 250 major ports, located in over 100 countries. The Darlington UK Centre coordinates and reports ShipCare work worldwide, providing clients with one single, convenient, point of contact for global services. Intertek’s ShipCare program provides a range of value-added services supporting the world’s seagoing vessels with testing, inspection, and technical expertise. Global capabilities include marine bunker fuel quality and quantity measurement and assurance…

06 Nov 2009

Purvin & Gertz Residual Fuel Market Outlook

Purvin & Gertz announced the completion of the Residual Fuel Market Outlook: Impact of Bunker Quality Changes on Marine Fuels & Refining. This comprehensive study includes an analysis of the issues, balances and economics of bunker fuel, stationary fuel oil and residual refinery feedstocks. Emissions limits agreed by the International Maritime Organization (IMO) and rapidly being adopted by nations will change marine bunker fuel qualities and indeed the type of fuel consumed. This report provides insight into the complex inter-industry compliance issue. The possible adoption of onboard ship scrubbing is analyzed in the study through two compliance scenarios, each providing a complete balance and pricing analysis.

22 Mar 2002

Oil Spill Experts Address High Density Oil Spills

Leading world experts in oil spill response have agreed a series of recommendations to deal with future spills of high density oil during the International Maritime Organization’s Third R&D Forum on High Density Oil Spill Response, held from 11-13 March in Brest, France, following the generous offer of the French Government to host the Forum. Large quantities of high density oil are carried by ships either as cargo or as fuel (bunkers). This oil’s characteristics, including high viscosity and tendency to sink, present particular challenges for clean-up operations in the event of an accidental spill at sea. The recommendations adopted…

20 Sep 2007

IBIA Delegates Warned of Costs of Unfeasible Distillates Switch

The International Bunker Industry Association (IBIA) was told at its annual convention in Montreal this month that a new report estimates that it would cost $67b over the next five years to implement a wholesale switch from traditional bunker fuels to distillates only for the world merchant fleet. The distillates-only option was also described as “unfeasible”, due to lack of sufficient refining capacity. The report, prepared for the American Petroleum Institute (API) by EnSys Energy & Systems Inc and Navigistics Consulting, highlights the considerable costs of meeting possible stricter air emissions regulations imposed by a revised MARPOL Annex VI and…

04 Dec 2002

Meet the ULFPS

While seeking to consolidate its existing LNG carrier workload by bidding for new tonnage to serve the Qatari export traffic and other projects, Spanish shipbuilder IZAR has intensified its research endeavors so as to create a broader business platform in the energy market. The group has thrown its weight behind a new initiative aimed at developing floating plant incorporating gas-to-liquids (GTL) technology to extract and convert gas from remote offshore fields into premium grade liquid products. The joint industry research and development project, known as Seagas, draws in IZAR Fene Shipyard (the former Astano establishment), Bermuda-based engineering corporation Foster Wheeler, and other partners from various disciplines.