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Bunker Fuel Oil News

19 Aug 2020

Wakashio Spill Highlights Importance of Adopting Latest International Legal Instruments

(Satellite image ©2020 Maxar Technologies)

The ongoing oil pollution incident from the grounded 203,000 DWT bulk carrier MV Wakashio is threatening an ecological catastrophe around the Indian Ocean island of Mauritius, endangering corals, fish and other marine life already under threat from climate change (IPCC 2018).In addition, it risks bringing devastating consequences for the economy, food security, health and tourism industry. Tourism in Mauritius - a popular destination for its pristine beaches - reportedly contributed about $1.6 billion to its economy during the last year…

04 Dec 2019

CMA CGM and Total to Develop LNG Ship Refueling in Marseille

© saiko3p / Adobe Stock

Container shipping firm CMA CGM will use the French Mediterranean port of Marseille for refueling some of its planned gas-powered vessels, backed by a supply partnership with energy group Total.Total will supply liquefied natural gas (LNG) and a refueling barge to enable CMA CGM to refuel LNG-powered vessels at the Marseille-Fos hub starting in 2021, the companies said in a joint statement on Wednesday.The initiative covers five vessels with a capacity of 15,000 twenty-foot equivalent…

08 Nov 2019

IMO2020: Market Uncertainty Brings More Fuel Oil Price Volatility

Photo: BIMCO

The oil market has recently been shaken up by geopolitical events, but volatility in the price difference between low and high sulphur fuel cannot be explained by that alone – the uncertainty is the chaos factor.The uncertainty of the upcoming IMO 2020 Sulphur cap regulation (IMO2020) is having a big impact on the bunker market. Whereas, the price for Marine Gas Oil Low Sulphur (MGO LS) has largely remained stable, the price for High Sulphur Fuel oil (HSFO) has been become increasingly more volatile in recent months.

07 Nov 2019

Fuel Spread for 32 Ports on BIMCO Website

Photo: BIMCO

BIMCO members can now monitor the price spread between Marine Gas Oil Low Sulphur and 380 centistoke High Sulphur Fuel Oil in 32 different ports around the world with daily information supplied by MABUX.The service is intended to assist members in making bunkering decisions before and after January 1, 2020.“We have seen significant fluctuations in the market over the past couple of months – fluctuations that can only be explained by the massive uncertainty about the future. It is currently not operating by market fundamentals.

16 Oct 2019

BIMCO’s Sand to Offer Boxship Insight in Athens

Caption: Accumulated container volumes on the Far East – Europe trade lane are up 4.6% y-o-y. The CCFI has fallen to an index level of 987, down -9% from the same period last year. 2 (Chart: BIMCO)

BIMCO’s Chief Shipping Analyst, Peter Sand, will be speaking and providing the audience with unique insights on the container market at the European Shipping Seminar on November 27, 2019 in Athens, Greece.The European Shipping Seminar, hosted by S&P Global Platts, will discuss the various topics relating to the commercial shipping markets and take a deep dive into how the shipping industry will navigate its way through the uncertain environment of the IMO 2020 Sulphur Cap.Container shipping outlookBIMCO has persistently stressed that trade wars and protectionism are negative for shipping.

29 Aug 2019

GCC Bunkers in Marine Fuel Processing Pact

Houston-based low sulfur specialists, GCC Bunkers (GCC) has reached a processing agreement with Texas International Terminals to produce IMO 2020 compliant 0.5% sulfur bunker fuel oil.The physical supplier of marine fuels said that the parties would also produce 0.1% ECA specification gasoil in the Houston, Texas area, starting in early 2020.“Our mission from the day we started GCC has been to provide solutions to our customers. Now, more than ever, the marine fuel supply business needs to provide absolute assurance of quality and reliability to its customers, and that is what we intend to do,” said GCC Bunkers’ Commercial Director,…

06 Jul 2018

Japan's First LNG Bunkering Vessel to Launch in 2020

Kawasaki Kisen Kaisha, Chubu Electric Power, Toyota Tsusho, and Nippon Yusen KK said on Friday that their joint venture has placed an order for a liquefied natural gas (LNG) bunkering vessel with Kawasaki Heavy Industries.   The vessel, which is scheduled to be delivered around September-December 2020, will be the first LNG bunkering vessel to be operated in Japan, the companies said in a statement.   The companies plan to start supplying LNG to vessels as fuel in the Chubu region in central Japan.   LNG is seen as an alternative to bunker fuel oil for shipping lines facing a 2020 deadline to meet new international standards on sulphur emissions.   Reporting by Osamu Tsukimori

13 Jun 2018

Singapore Reports Higher May Bunker Fuel Sales

© umike_foto / Adobe Stock

Singapore marine fuel sales climbed to a four-month high of 4.283 million tonnes in May, up 1.2 percent from the previous month and 2.5 percent higher compared with a year ago, data from the Maritime and Port Authority of Singapore (MPA) showed on Wednesday.The strong volumes sold in May were largely in line with industry expectations and come despite sharply higher bunker fuel prices due to rising crude oil prices and shortages of finished grade bunker fuel oil during the month.The cost of 380-centistoke (cst) fuel oil cargoes, the mainstay bunker fuel for large vessels, in May averaged $433

10 May 2018

Kawasaki Kisen, 3 Others Set up LNG Bunkering Ventures

© Kpics / Adobe Stock

Kawasaki Kisen Kaisha, Chubu Electric Power, Toyota Tsusho, and Nippon Yusen KK said on Thursday they have agreed to launch a liquefied natural gas (LNG) bunkering business in Japan and have set up two joint ventures.The companies plan to start supplying marine traffic in the Chubu region in central Japan, they said in a statement.LNG has been promoted as an alternative to bunker fuel oil for shipping lines facing a 2020 deadline to meet new international standards on sulfur emissions.(Reporting by Osamu Tsukimori; editing by Richard Pullin)

26 Jan 2018

Kawasaki Kisen, 3 Others Plan LNG Bunkering Venture

Kawasaki Kisen Kaisha, Chubu Electric Power , Toyota Tsusho, and Nippon Yusen KK say they have started discussions to launch a business supplying liquefied natural gas (LNG) to fuel ships.   Discussions to focus on supplying marine traffic in the Chubu region in central Japan and building supply networks for customers using the fuel, companies said in statement on Friday. LNG has been promoted as an alternative to bunker fuel oil for shipping lines facing a 2020 deadline to meet new international standards on sulphur emissions.   Reporting by Aaron Sheldrick

05 Dec 2017

CMA CGM’s Dual-fuel Mega Ships to be Built to BV Class

The classification contract for CMA CGM’s 22,000 TEU dual-fuel containerships was signed during a ceremony at Marintec in Shanghai (Photo: BV)

All nine of CMA CGM’s new gas-fueled Ultra Large Containerships will be built to Bureau Veritas (BV) class rules and under BV newbuilding supervision. The two China State Shipbuilding Corporation (CSSC) shipyards that will be building the nine 22,000 TEU containerships, Jiangnan Changxing Shipbuilding Co., Ltd. (Hudong Zhonghua) and Shanghai Jiangnan Changxing Heavy Industry Co., Ltd (SWS), signed the classification contract with BV senior management at a ceremony during Marintec 2017 in Shanghai.

04 Dec 2017

Total to supply LNG for CMA CGM's Future Boxships

Total to supply 300,000 T of LNG a year for 10 years. Total will supply liquefied natural gas (LNG) to CMA CGM to fuel the container shipping group's future very large vessels, the French companies said on Monday. CMA CGM had said last month it would use LNG to power the nine extra-large vessels it has on order, a first such move in a shipping industry grappling with how to comply with tougher rules on emissions. Under the 10-year agreement, oil and gas major Total will supply around 300,000 tonnes of LNG per year to CMA CGM, starting in 2020, the companies said in a statement. Financial terms were not disclosed. CMA CGM's future container ships, to be among the largest ever built, are due to be delivered from 2020.

27 Oct 2017

MOL on Next-generation Ship Management Support System

Mitsui O.S.K. Lines (MOL) announced that MOL and Mitsui Engineering & Shipbuilding have been jointly developing practical use applications and commercialization of the "next-generation ship management support system" and the current data collection and monitoring systems, providing the basis for an advanced new system, have upgraded the functionality. This initiative will allow enhanced operating support from shore-side systems and personnel. The two companies are working to reduce environmental impact of vessel operation by preventing problems and reducing the consumption of oil consumption, such as bunker fuel oil, which in turn cuts exhaust emissions. Details of the upgrades are as follows. This prevents problems by visually identifying abnormal values in onboard instruments.

31 Aug 2017

OW Bunker Investors to Sue IPO banks

Institutional investors to sue Morgan Stanley, Carnegie. A group of institutional investors in OW Bunker said they plan to sue Morgan Stanley and Carnegie for about $80 million, accusing the two investment banks of misleading them ahead of the 2014 listing of the now bankrupt marine fuel oil supplier. Denmark's OW Bunker was valued at $1 billion when it floated in March 2014, but the company filed for bankruptcy in November that year after suffering hedging losses of almost $300 million, sending shockwaves through the global shipping and oil trading industry. "We are planning a lawsuit against the two investment banks involved in the OW Bunker IPO," Erik Bomans, partner in Deminor Recovery Services representing 30 institutional investors, told Reuters on Thursday.

15 May 2017

ClassNK Launches Bunker Fuel Oil Analysis Service

ClassNK’s subsidiary ClassNK Consulting Service (NKCS) has officially launched its Bunker Fuel Oil Analysis Service. The service will provide an oil analysis report for the properties of bunker fuel oil based on the ISO8217 Standard with advice such as oil heating and purification. Testing laboratories are located worldwide in Singapore, UAE, U.K. and U.S. After sampled oil is received at the nearest laboratory from each ship, an analysis report will be provided by email and online within 48 hours. In addition to analysis based on the ISO8217 Standard, the Bunker Fuel Oil Analysis Service also provides special analysis services based on request…

09 May 2016

Container Shipping Demand Weakens

The demand for container shipping is really not going anywhere at the moment. Indicators for growth in the first months of 2016 point to limited overall demand and huge variations from trade to trade. In addition, all numbers are impacted by Chinese New Year, which disrupts most trade figures for the first months of any year. BIMCO’s own data for the United States (US) imports on the east coast shows an increase of 6.5%, a significant rise even above the strong level seen in 2015. The west coast imports of loaded containers are only impressive in comparison with the very poor volumes seen in 2015. These were impacted heavily by the conflict between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) which clogged up the main ports.

15 Dec 2015

ExxonMobil Introduces MFMS in Hong Kong

Photo courtesy of ExxonMobil

ExxonMobil announced it has introduced the first independently accredited mass flow metering system (MFMS) in Hong Kong, following introduction of the system in Singapore. The fuel delivery system can help save vessel operators up to an estimated three hours and $5,000  per refuelling while also providing increased transparency and efficiency to the bunkering process, according to ExxonMobil. The Hong Kong MFMS has been accredited by Lloyd’s Register, in partnership with A*STAR’s National Metrology Centre…

30 Nov 2015

Bunker Fuel Market Poised 460 million tons by 2020

Transparency Market Research launched its latest study on the global bunker fuel market, in terms of revenue and volume. The report predicts that the global bunker fuel market is likely to reach an estimated volume of 460 million tons by 2020. The market, therefore, is poised to exhibit a moderate 3.1% CAGR during 2014-2020, expanding from 372.30 million tons in 2013. Bunker fuel is a fractionally distilled liquid fuel derived from crude oil. Also known as fuel oil, the substance can be classified on the basis of its chemical composition, intended purpose, and boiling point. Unlike other petroleum products, bunker fuel is more polluting and highly unrefined. Apart from fuel oil, there are other middle distillate fuels, which are also used as bunker fuels.

09 Nov 2015

Changes in Asian Refining Bodes Well for Product Tankers: Poten and Partners

Refining capacity in Asia has been growing rapidly for many years. Not surprisingly, the vast majority of this growth took place in China, which more than doubled its refining capacity over the last 10 years. The other significant growth engine in Asia has been India. However, the impact of these two refining powerhouses on the product tanker market has (so far) been very different. While a significant portion of India’s new refining output has been exported into world markets, boosting demand for all sizes of product tankers, China’s growth has been predominantly focused on satisfying rapidly expanding domestic demand. However, the future may look different from the past and product tanker owners are likely to benefit from continued growth in Asia’s clean product trades.

24 Mar 2014

Collision, Spill Forces Houston Channel Closure

A barge loaded with marine fuel oil sits partially submerged in the Houston Ship Channel, March 22, 2014. The bulk carrier Summer Wind, reported a collision between the Summer Wind and a barge, containing 924,000 gallons of fuel oil, towed by the motor vessel Miss Susan. (USCG photo)

Cleanup continues in response to an oil spill in the Houston Ship Channel that resulted in the release of approximately 168,000 gallons of bunker fuel oil. On March 22, 2014, the M/V Summer Wind and Kirby Barge 27706 collided in the Houston Ship Channel in the vicinity LT 26 near the "Texas City Y", the Houston-Galveston Port Community said in an announcement. The U.S. Coast Guard (USCG) announced that Unified Command is working closely with the Vessel Traffic Service, paired with assessments of the Houston Ship Channel, to determine when partial vessel traffic can resume.

23 Mar 2014

Houston Ship Channel Tankbarge: Incident Update

The partially submerged barge: Photo credit USCG

The Coast Guard informs that response efforts by the Unified Command to contain oil leaking from the partially submerged Kirby Marine tank barge continue Saturday overnight. Four skimming vessels remain on-scene to continue recovering spilled bunker fuel oil. Officials with the unified command, who are overseeing the spill containment and recovery efforts, anticipate the ability to fully reactivate their efforts beginning at first light Sunday. An additional 20 response vessels are staged and are prepared to resume operations early on Sunday.

13 Feb 2014

MHI, Mitsubishi Kakoki Develop Hybrid SOx Scrubber

Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Kakoki Kaisha, Ltd. (MKK) have jointly developed a Hybrid SOx Scrubber System that efficiently removes sulfur oxides (SOx) from exhaust gas emitted by marine diesel engines. The Hybrid SOx Scrubber System is the first in Japan to comply with the more stringent SOx emission regulations that will take effect in designated emission control areas (ECA) in 2015. The system is capable of scrubbing exhaust gas from the combustion of fuels emitted from bunker heavy fuel oil to the level combusting more costly low-sulfur fuel oil. By adopting a modular design, the system also facilitates retrofit installations on ships already in service.

20 Sep 2012

Alfa Laval Now Offers Sustainable Solutions

Global marine supplier Alfa Laval now offers a set of sustainable solutions designed to help ship owners and operators comply with current and pending environmental regulations. Grouped under the conceptual name “Pure thinking”, the products will provide security as existing legislation is tightened, as well as compliance with new laws such as those that will regulate ballast water treatment. While most of the solutions can be retrofitted, incorporating them at the newbuilding stage will contribute to gaining DNV’s Clean Design class notation for the vessel under construction. “Long service at sea has given us a deep understanding of the marine environment and demands on the industry.