Oils News

Dry bulk shipping company Pacific Basin has decided to apply a sustainable graphene-based propeller coating XGIT-PROP, developed by Canadian company GIT Coatings, across its entire fleet.Following successful application and observing positive results on one of its Supramax dry bulk vessels, Pacific Basin has started the rollout of XGIT-PROP across 40 vessels scheduled for dry dock maintenance in 2024. This decarbonisation initiative marks the largest adoption of graphene-based propeller coating in the dry bulk segment.Sanjay Relan…

Constant attacks on Ukrainian Black Sea ports by Russian drones and missiles are leading to a slowdown in Ukraine's maritime agricultural exports, brokers said on Wednesday.A key maritime hub in the southern Odesa region has been under almost daily attacks in recent weeks, but authorities have not reported any significant damage to port infrastructure."Active shelling of Ukraine, particularly in the south, by Russia last week led to interruptions in export shipments and a slowdown in waterborne exports…

Chemship commissioned its first ship with wind assisted ship propulsion. This makes the MT Chemical Challenger the first chemical tanker in the world to be equipped with sustainable wind technology. The ship will serve on shipping company Chemship’s Trans-Atlantic route between the East Coast of the United States and the Mediterranean.This week four 16-metre-high aluminum wind sails were installed on board the 134-meter-long vessel. The VentoFoils from Econowind create a direct wind surface of 180 m2.

NYK Stolt Tankers, a joint venture between NYK and Dutch company Stolt Tankers, has signed a contract with Nantong Xiangyu Shipyard in China to build six parcel chemical tankers.The contract will strengthen NYK’s chemical tanker business, for which demand is expected to grow steadily, and deepen the partnership with Stolt Tankers, a leading player in the industry, the company said.Parel tankers are multi-purpose chemical tankers can carry various cargo, including chemical products…

It might be easy to blame EALs, but the ongoing causes of stern tube damage are varied, and possibly declining.Environmentally Acceptable lubricants (EALs) gained market traction with the introduction of US VGP regulations in 2013. Since then, DNV has observed two major trends. The first, starting in 2013 was early life damage, either during sea trials or within the first five years of operation, where aft stern tube bearings typically failed under extreme load conditions. Then from around 2018…

Freight going through the Suez Canal has dropped by 45% in the two months since attacks by Yemen's Houthis led shipping groups to divert freight, disrupting already strained maritime trading routes, according to UN agency UNCTAD.UNCTAD, the United Nations Conference on Trade and Development, which supports developing countries in global trade, warned of risks of higher inflation, uncertainty of food security and increased greenhouse gas emissions.Shipping companies have diverted ships from the Red Sea since the Iran-aligned Houthi movement…

Stolt Tankers reports it is the first shipping company in the world to apply a cutting-edge sustainable coating to the hull of one of its vessels.The X-GIT FUEL graphene technology, developed by Graphite Innovation & Technologies (GIT) Coatings, has the potential to reduce fuel consumption and resulting greenhouse gas emissions.X-GIT FUEL is a hard foul release hull coating that creates an ultra-low friction surface to increase vessel performance, without the use of biocides, silicon oils or toxic components.

Speaking after the November 30 OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “The decision by OPEC+ to continue with its previously announced production cuts and Saudi/Russia to extend their voluntary production cuts to the end of Q1 2024 is not a surprise, given current pricing and the uncertainty in the market over the strength of the global economy and oil demand growth. What is new is the additional voluntary cuts for Q1 2024 and announced by several OPEC+ producers.”  The full tally of the additional cuts has not yet been announced…

Danish company Green Instruments has entered a major agreement with Hudong-Zhonghua Shipbuilding for the delivery of equipment that detects oil mist and vapor on ships and triggers an alarm before fires can develop and endanger the crew, ship, equipment, and environment.The shipyard now installs Green Instruments’ equipment on every new vessel built.Oil mist is formed by oil droplets floating in the air and can ignite at low temperatures. Green Instruments’ oil mist detector is designed to register the slightest traces of oil mist and vapor from hydraulic oils and bunker fuel…

MAN Energy Solutions has announced that it is developing an oxidation catalyst for four-stroke engines that will significantly reduce methane slip. Called ‘IMOKAT II’ and developed at MAN Energy Solutions’ headquarters in Augsburg, Germany, the research project is currently undergoing testing at the company’s Frederikshavn, Denmark facility.Funded by the German Federal Ministry for Economics and Climate Action, the new project will investigate the operational experience of a pre-turbo methane-oxidation catalyst…

The U.S. International Development Finance Corporation (DFC) said it will provide $553 million financing for a Colombo port terminal project, partly owned by India's Adani Group, advancing the first foray by an Indian company into the sector.Sri Lanka, an island off India's southern coast, is mired in its worst financial crisis in over seven decades after its foreign exchange reserves ran to record lows last year, forcing its economy to contract by 7.8% in 2022. Ports-to-edible oils Adani group…

In 2019, Oldendorff Carriers signed a research agreement with the Massachusetts Institute of Technology’s (MIT) Center for Bits and Atoms to investigate disruptive improvements in ship design, propulsion, and alternative energy sources to help achieve the enhanced decarbonization targets to 2050. As part of their agreement, Oldendorff Carriers asked MIT to conduct a study on the long-term stability and degradation of a B20 advanced biofuel blend.Biofuels offer a drop-in fuel option, reducing GHG emissions from a life-cycle perspective.

A cargo ship that ran aground off St. Thomas in the U.S. Virgin Islands earlier this month has been refloated and towed to a safe mooring location at the Crown Bay Sandfill dock, the U.S. Coast Guard said.Vessel owners and salvors will now coordinate further operations to remove the damaged cargo, remaining oil and conduct further salvage or repair operations for the Bonnie G.The Vanuatu-flagged vessel began taking on water and ran aground on October 4, leading the 12 people on board to be rescued after abandoning ship. No injuries were reported.To refloat the Bonnie G, DonJon-SMIT, Inc.

Ukraine has suspended the use of its new Black Sea grain corridor due to what it sees as a threat from Russian warplanes, the Kyiv-based Barva Invest consultancy said on Thursday."We would like to inform you of a temporary suspension of vessel traffic to and from (the ports). The current ban is in force on October 26, but it is possible that it will be extended," the consultancy said on the Telegram messaging app.Ukrainian officials were not immediately available for comment.The consultancy said a de facto suspension had already been in place for two days at the behest of the military…

The number of stern tube-related damage claims has increased considerably over the last few years, and this is causing marine insurer Gard some concern.In the past, damage to a stern tube was often considered a relatively straightforward casualty by surveyors. The cause was often obvious – contact with a floating object such as ice, fishing nets or ropes, for example.These causes still exist, but the significant increase in frequency over the past years, without any apparent explanation…

Chevron Marine Products’ Taro Ultra Advanced 40 oil has successfully passed NOL (No Objection Letter) requirements by engine manufacturer WinGD. This follows the earlier NOL award for Taro Ultra Advanced 40 from MAN Energy Solutions. This latest test validates the suitability of the oil for use in WinGD engines operating with liquid fuels containing sulphur in the range 0.00<1.50 % m/m, which includes very low sulphur fuel oil (VLSFO). The test also approved the general usage…

Ukrainian grain exports fell 10% to 2.1 million metric tons in September versus August due to difficulties in export logistics and Russian shelling on key export facilities, the UCAB agricultural business association said on Tuesday. Exports of vegetable oils decreased by 13% to 479,900 tons, the association said in a statement. UCAB said wheat and sunflower oil dominated the export volumes in September. Ukraine exported 2.3 million tons of grain and 549,000 tons of vegetable oils in August, the association said.

Ukrainian railways have partially restricted cargo shipments to Ukraine's major Danube River port Izmail, which has been the target of Russian drone attacks in recent weeks, the railways said on Monday.The restrictions began on Sunday, the railways said in a statement.Russia has attacked Ukrainian ports on the Danube River with drones two nights in a row. The latest attack on the Danube River port of Izmail, in Ukraine's southern Odesa region, hit warehouses and production buildings…

The International Bunker Industry Association (IBIA) has submitted proposals to the Maritime Safety Committee (MSC 107) which will be meeting later this week in a bid to improve understanding and workability of new flashpoint regulations for fuel oil.MSC 107 will meet from 31 May to 9 June and will continue discussion on an agenda item for the development of further measures to enhance the safety of ships relating to the use of fuel oil. In essence, the aim is to introduce increased control on the supply of bunker fuels.

As technology feasibility continues to grow for methanol as a marine fuel, the main challenges for the industry’s adoption of it are investment and community readiness, according to a new report from Lloyd’s Register (LR).The report, "Fuel for Thought: Methanol", found that technology for methanol usage as a marine fuel is feasible, available and mature in certain cases. Most engine makers will have dual fuel engine models in the near term, and there is significant evidence of interest from shipowners.

Spanish engineering and technology group Sener said Thursday it had completed the conceptual design of a new sustainable biofuel tanker aimed at supplying biofuels during bunkering operations, that is also capable of capturing CO2 from other vessels.The vessel would be able to carry heavy fuel oil (HFO), very low sulfur fuel oil (VLSFO), biofuels and marine gas oils (MGO), and also store the captured CO2 from nearby vessels."The new vessel has been designed to operate in compliance with the energy efficiency and emission reduction requirements of the International Maritime Organization (IMO).

HII announced its Newport News Shipbuilding division partnered with the Virginia Marine Resource Commission (VMRC) to donate and sink a former dry dock caisson gate offshore, giving it new life as part of an artificial reef.Caisson gates are used at the harbor end of a dry dock, with pipes inside allowing for water from the James River to enter when NNS needs to flood the dry dock. This particular gate, originally put into service at NNS in 1967, was part of a dry dock no longer in use at the shipyard.NNS crews worked to prepare the caisson gate…

Global freight volumes show signs of having bottomed out in the first quarter, signalling the industrial cycle may be near its trough, which could provide some support to oil prices later in 2023.Global freight volumes fell 1.1% during the first three months of 2023 compared with a year earlier, according to the Netherlands Bureau of Economic Policy Analysis (“World trade monitor”, CPB, May 25).But volumes were up by 0.2% in March compared with the prior year, after declining 2.5% in February and 1.2% in January…