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

UK Subsidises 8 Renewable Energy Contracts

The British government on Wednesday awarded investment contracts under a new subsidy regime to eight renewable energy projects, including five offshore wind farms and three biomass plants.

Two Navy Contracts for GD Bath Iron Works

Included in the latest listing of contracts awarded by the US Department of Defense, Navy, are two contracts with General Dynamics Bath Iron Works, Bath, Maine.

AMSEA Awarded US$33-Million Navy MSC Contract

General Dynamics American Overseas Marine LLC (AMSEA) apprises it has been awarded the USD$32.7 million contract modification to operate and maintain seven large,

Finance

Korean Prosecutors Raid Home of Ferry's Owner

Prosecutors investigating the fatal sinking of a South Korean ferry have raided the home of Yoo Byung-un, the head of a family that owns the Chonghaejin Marine Co.

UK Subsidises 8 Renewable Energy Contracts

The British government on Wednesday awarded investment contracts under a new subsidy regime to eight renewable energy projects, including five offshore wind farms and three biomass plants.

Two Navy Contracts for GD Bath Iron Works

Included in the latest listing of contracts awarded by the US Department of Defense, Navy, are two contracts with General Dynamics Bath Iron Works, Bath, Maine.

Fuels & Lubes

Ill-Considered Energy Policies Threaten US Navy: Report

The United States government has pursued energy policies based on “the mistaken belief in the unproven science that claims carbon dioxide (CO2) emissions from burning

U.S. Supreme Court Declines Exxon Mobil Appeal

The U.S. Supreme Court on Monday declined to review a ruling against Exxon Mobil Corp that ordered the company to pay $105 million in damages for polluting New

Japan LNG Imports Hit Record Levels

Japan imported record volumes of liquefied natural gas (LNG) and thermal coal in the fiscal year ended in March, as the country's  shutdowns of nuclear stations

Container Ships

Shippers Vapores, Hapag-Lloyd Merger

A significant majority of shareholders in Chilean shipper Compania SudAmericana de Vapores lent their support to the firm's merger with Germany's Hapag-Lloyd,

USCG to Medevac Injured Mariners Battling Rough Seas off Alsaka

The U.S. Coast Guard said it is preparing to medevac three injured mariners from a vessel currently more than 300 miles south of Kodiak Monday after a large wave

Novorossiysk: New Tonnage Dues Rates

GAC informs that tonnage dues rates in the port of Novorossiysk will be increased about 9% with effect from April 27, 2014. The rate increases are as follows: Tankers - Rates in force: 2.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Ship Repair Ship Simulators Sonar Winch
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: 0.1214 sec (8 req/sec)