As Australia-Asia Trade Grows, So Too Does Bunker Use

Tuesday, February 21, 2012

OW Bunker confirmed an increase in demand for bunkers across the Pacific Islands, resulting from a further strengthening in trade between Australia, China, Indonesia and India and further growth in the domestic cruise industry.

OW Bunker Australia, which acts as the OW Bunker Group's purchasing centre for the region, has reported that the Pacific Islands are experiencing an increase in demand for marine fuel as Australia's commodities markets and marine tourism industries continue on a positive growth trajectory. OW Bunker has confirmed that availability of both 0.1% MGO and 3.5% fuel oil across the region is sufficient to meet demand, with a strong supply infrastructure throughout the Pacific Islands.
“Australia's economy in particular remains robust, with an influx of international investment in commodities such as iron ore and LNG significantly boosting trade from and across the region," said
Stefan Poulus, Branch Manager, OW Bunker Australia. "We have seen growth in several key bunker ports, with Port Moresby in Papua New Guinea providing a good alternative for bunkers on the Australia and New Zealand to Asia route. Increased cruise traffic has also fuelled demand across the Pacific Islands, particularly in New Caledonia, Fiji and French Polynesia. Projections for the cruise industry, particularly between Australia and New Zealand are strong, with a predicted 20% increase in traffic in the next few years, so we can anticipate that demand for bunkers will increase in line with this.” 
The recent announcement of a US$2.9 billion investment from Rio Tinto in Western Australia's Port of Cape Lambert is expected to enhance the port's capacity for the export of iron ore to 203 million tonnes annually by 2015. The Great Lakes Dredge and Dock Corporation (GLDD) has also announced a US$180m contract tied to Chevron's Wheatstone LNG Project, which is expected to further strengthen Australia's output and trade with Asia in particular, as the biggest consumers of Australian LNG. 
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Fuels & Lubes

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

Lithuania Looks to U.S. for Gas

Lithuanian liquefied natural gas (LNG) importer Litgas has signed a preliminary agreement with a U.S. supplier, looking to lessen the Baltic nation's dependence on Russia.

RoRo Ship Enters Operation for WWL

Wallenius Wilhelmsen Logistics welcomes into operation the M/V Thermopylae, the first of its new generation of Post Panamax HERO (High Efficiency RoRo) PCTC vessels.

 
 
Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1363 sec (7 req/sec)