China Bunker Price Undercut by Russian Competitors

MarineLink.com
Monday, September 09, 2013

Bunker fuel sales at China's Shenzhen port have dropped by around 20% since the beginning of this year as more ships are calling at the Russian Far Eastern ports to buy bunker fuel with prices there $100-150/mt lower than in Shenzhen, according to trade and industry sources cited by Platts.

Major shipping companies like Maersk, Yang Ming, Hanjin Shipping, Hyundai Merchant Marine have been bunkering at the Russian ports which has cut Brightoil's monthly bunker fuel sales volume at Shenzhen by at least 30,000 mt on average.

Container vessels heading for the US West Coast typically don't bunker at Russian ports as it is not in their route. But due to the lower price at the Russian ports, the ships have been veering off their typical routes and slow-steaming for one or two days to reach the ports and buy bunker fuel there, sources informed Platts.

Source: Platts

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Padbury delays detailing port funding

Padbury Mining on Thursday failed to reveal the investors behind a more than $6 billion port and rail project in Western Australia's iron ore belt, asking for its

JFD Awarded Australian Navy Commendation

Commendation awarded by the Royal Australian Navy for dedicated work, commitment and support for Exercise Black Carillon 2013   James Fisher Defence (JFD) has

Samsung Heavy Takes Up 7 Container Ship Order

South Korea's Samsung Heavy Industries said on Wednesday that it is proceeding with a project worth 642.9 billion won ($617.67 million) to build seven container ships as planned.

Finance

POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier,

Holland American Line donates $100,000 to Desmond Tutu Peace Foundation

In honor of Archbishop Emeritus Desmond Tutu’s work to spread peace, justice and democracy around the globe, Holland America Line has made a $100,000 donation to

Woodside Q1 earning up, no Leviathan deal

Woodside Petroleum, Australia's largest independent oil and gas producer, reported a 5 percent rise in first quarter production on Thursday but said it had not

Fuels & Lubes

China crude oil output up

China's refinery crude throughput in March rose 2.6 percent from a year earlier to 41.92 million tonnes, or 9.87 million barrels per day (bpd), data from the National

LNG Bunkering Will Develop Fast - LR Study

Lloyd's Register’s (LR) LNG Bunkering Infrastructural Survey 2014 indicates that major ports around the world are either planning for, or are anticipating, the wide-scale development of LNG bunkering.

The Midas Touch: US Navy Researchers Convert Seawater into Fuel

Researchers at the Naval Research Laboratory (NRL) say they have developed technology to extract carbon dioxide from seawater while simultaneously producing hydrogen,

Container Ships

SC Ports Report Record Pier Container Volumes

Georgetown grows 10 percent fiscal year to date Today South Carolina Ports reported March pier container volumes were the highest since August 2008. Last month the Port handled 85,

Hapag-Lloyd, CSAV Merger Finalized

Hapag-Lloyd and CSAV binding agreement signed / In return for contributing its container business, CSAV becomes new core shareholder of Hapag-Lloyd / Hapag-Lloyd

Quiet March Sees Cargo Slow in Long Beach

Harsh winter elsewhere, ship deployment changes soften traffic Container volumes at the Port of Long Beach dipped in March, compared to the same month one year ago, with a decline of 1.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.1162 sec (9 req/sec)