Marine Link
Tuesday, January 23, 2018

Bunker Fuels News

China: Sunken Tanker Sanchi May be Leaking HFO

Photo: China’s Ministry of Transportation

A sunken Iranian oil tanker may be leaking heavy bunker fuel as well as light oil off the east coast of China and the best remedy was to recover the vessel, officials said on Friday. It was unclear how much bunker fuel was left aboard the tanker when it sank on Sunday after being ablaze for days but experts estimated it may have been carrying about 1,000 tonnes at the time of collision. "There have been multiple appearances of oil slicks of different sizes and types at the sinking spot and nearby...

Explosion on Iranian Tanker Repels Rescue Team

The tanker Sanchi burns (CREDIT: China Ministry of Transport)

Fire rages for 4th day; tanker collided with freight ship on Saturday. Rescue crews were forced to retreat from a stricken Iranian oil tanker in the East China Sea on Wednesday following an explosion on the ship as a fire raged for a fourth day after a dramatic collision. The blast happened on board the tanker in the afternoon after rescue crews were dousing the ship with foam in an attempt to put out the fire, China's Transport Ministry (MOT) said in a statement on Wednesday. The cause and damage to the tanker from the incident were not clear.

Stricken Tanker Sinks, Leaves Large Slick in East China Sea

Photo: China's Ministry of Transport

Two bodies, black box recovered from tanker before sinking; Iran says remaining 29 crew, passengers presumed dead. A stricken Iranian tanker that sank in the East China Sea on Sunday in the worst oil ship disaster in decades has produced a large oil slick, Chinese media and Japanese authorities said on Monday, as worries grew over damage to the marine ecosystem. The tanker Sanchi (IMO:9356608) had been adrift and ablaze after crashing into the freighter CF Crystal (IMO:9497050) on Jan.

Japan: Little Chance Sanchi Oil Slick Reaches Its Coast

(Photo: Iranian Ports & Maritime Organization)

Japan sees little chance of the oil spill from a stricken Iranian tanker that sank on Sunday in the East China Sea reaching its shores, an official at the nation’s environment ministry said on Tuesday. The large tanker Sanchi (IMO:9356608) sank in the worst oil ship disaster in decades and produced a large oil slick, Chinese media and Japanese authorities said on Monday, as worries grew over damage to the marine ecosystem. The vessel’s crew of 30 Iranians and two Bangladeshis are all believed to have perished in the incident.

Bunker Fuel Market Poised 460 million tons by 2020

Image: GAC Bunker Fuel

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.

New Global Director, New Dubai Location at GAC Bunker Fuels

GAC Bunker Fuels unveiled plans to relocate the headquarters of its global bunker fuel services to Dubai under the new company name, GAC Bunker Fuels Ltd. The company also announced the appointment of Nicholas Browne as the new Global Director of GAC Bunker Fuels and Anthony Mollet as Commercial Director – Shipping (GAC UK). GAC Bunker Fuels’ relocation to Dubai will take place in August 2012. 

Despite Price Drop, Bunker Costs Still Hamper Shipping

The cost of marine fuel continues to be a major headache for global shipping companies. Bunker fuel costs account for approximately 70 per cent of the total voyage expenditure for a vessel and ship operators prefer purchasing bunker fuel from ports where the cost is lower. Some operators prefer purchasing a major portion of the total fuel requirement for the voyage from a single port which offers bunker fuel at economical prices. However, this is not an industry-wide scenario as other operators may spread the total fuel purchase over numerous ports. Fuel utilised by shipping companies for fuelling their marine fleet is commonly referred to as bunker fuel. Currently, fuel oil is the most widely used bunker fuel.

Hapag-Lloyd: Shipping Demand Up, More Mergers in 2018

file Image (CREDIT: Hapag-Lloyd)

German shipping group Hapag-Lloyd sees demand for transport growing 4 percent in 2018 and expects more shipping firms to merge in the year, the chief executive said. CEO Chief Executive Rolf Habben Jansen also said Hapag-Lloyd, which merged with its Arab peer UASC, could achieve 85 to 90 percent of targeted annual savings from the deal of $435 million this year and 100 percent from 2019. More savings could be made in future, he told reporters in Hamburg, where he reiterated guidance for rising full-year 2017 earnings before interest, tax, depreciation and amortisation (EBITDA) and for EBIT.

UAE Bunker Traders Appointed by GAC Bunker Fuels

GAC Bunker Fuels has appointed two new UAE-based bunker traders as part of its regional expansion plan. Georgia Paravalou will trade and broker marine fuels in her new role. Aneconomics and management graduate, she joins GAC Bunker Fuels from AP&A. Ltd, where she worked as a shipbroker, coordinated the marketing department and developed business in the UK and South China. Anthony Inglis is charged with expanding GAC's bunker business in the Middle East and developing bunkering operations in Sub-Saharan Africa. joined GAC Bunker Fuels from Weatherford International, where he served as a Procurement and Logistics Co-ordinator for the same market. "We are delighted to welcome Georgia and Anthony to GAC Bunker Fuels," says Nicholas Browne, Global Director of GAC Bunker Fuels.

64% Gowth for LNG Bunkering Market

Photo: Ramboll Oil and Gas

Detailed insights and analysis of the global market for LNG bunkering fuel have been included in a new market research report recently published by Transparency Market Research (TMR). The report includes an analysis of market’s historical statistics to present an overview of the growth trajectory exhibited by the global LNG bunkering market over the past few years and forecasts the course the market is likely to adopt over the report’s forecast period. On the basis of capacity…

LNG Bunkering Market to Develop at 63.6% CAGR

Photo: Gazprom

For shipping companies operating in emission control areas (ECAs), liquefied natural gas (LNG) represents an attractive bunkering alternative. "The lower cost of LNG bunker fuel than other variants of ECA-compliant fuels in Europe and North America is the primary reason boosting the LNG bunker fuel market in the global scenario", says a lead TMR analyst. Usage of LNG as a ship fuel reduces sulfur oxide (SOx) emissions by 90% to 95% compared to conventional petroleum fuels. Due to strict sulfur emission mandates in place executed via Annexure VI of the International Maritime Organization (IMO)…

Bright Future for LNG Bunkering - TMR

Image Courtesy TMR

Transparency Market Research (TMR) have given a detailed insights and analysis of the global market for LNG bunkering fuel in its recently published market research report. On the basis of capacity, the market, which had a valuation of mere 70 kilo tons in 2013, is projected to expand at an astounding 63.6% CAGR between 2014 and 2025 and reach 22,540 kilo tons by 2025. The report includes an analysis of market’s historical statistics to present an overview of the growth trajectory…

GAC Bunker Fuels Launches Web-Based Pricing platform

Nicholas Browne, Global Director of GAC Bunker Fuels

GAC Bunker Fuels Limited has launched a new website-based pricing and market information platform that enables customers to access the daily data required to make fast and informed fuel procurement decisions. This new interactive service, which allows ship owners and operators to design their own customised daily pricing page, is available at http://www.gac.com/bunkerfuels. The GAC Bunker Fuels service provides historical data, allowing users to track and analyse market trends.

Bunkerfuels Founder Joins OceanConnect

Bob Fitzgerald, founder of Bunkerfuels, will join OceanConnect's senior management team, effective April 15, 2002. Fitzgerald, who founded Bunkerfuels Corporation in 1978 and quickly led it to a world leadership position, sold the company in 1999, when Bunkerfuels handled over 10 million tons of marine fuel inquiries and closed approximately 6.5 million tons from office locations in the United States, Korea, England and Brazil. Fitzgerald's experience also includes 11 years of service in Chevron's production, drilling and bunker divisions and eight years as manager of the bunker department for ship charterer Charles R. Weber Company.

GAC Bunker Fuels Ltd. Attain ISO Certification

GAC Bunker Fuels Ltd. awarded ISO 9001:2008 Management System Standard certification by DNV. The ISO 9001:2008 certificate awarded by Det Norske Veritas (DNV) recognises GAC Bunker Fuels’ best management practices in the trading and brokerage of marine fuels and lubricants across its global operational sites. It demonstrates the company’s full compliance with the requirements of this international best practice standard, which considers a range of measures, including management responsibility, resource management, product quality and the improvement of quality management systems across the organisation. Nicholas Browne, Global Director of GAC Bunker Fuels Limited, says: “Quality assurance has been the guiding principle behind GAC Bunker Fuels’ growth.

GAC Bunker Fuels Appoints new US Bunker Manage

Maurice Lara

GAC Bunker Fuels, part of global shipping, logistics and marine services provider GAC, has announced the appointment of Maurice Lara as its Bunker Manager for East Coast USA. He is based in Norwalk, Connecticut and accountable to Nicholas Browne, Global Director of GAC Bunker Fuels, and Bob Bandos, Managing Director of GAC USA. Lara's background is in marine fuel trading, domestic and international logistics, vessel chartering and negotiating charter party agreements and end-to-end commodity transportation.

China Bunker Price Undercut by Russian Competitors

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.

Chemoil Concerned Re ISO 8217 Revisions

SGX Mainboard-listed Chemoil (SGX-ST: CHEL.SI), an independent physical suppliers of marine fuel, is urging the International Standard Organization’s (ISO) working group which is currently reviewing changes to bunker fuel specifications, ISO 8217, to ensure there was a broad, cross-industry consensus for a fair and equitable revision to the Standard. Responding to recent claims that current recommendations ISO/DIS (Draft International Standard) 8217 were too lenient and in favour of the bunker supplier, Chemoil has highlighted a number of issues raised within the proposed revision that, if implemented, could trigger rising bunker fuel costs for ship operators and will increase disputes over fuel specifications.

PDVSA To Sell Bunker Fuels On Internet

Venezuelan's Petroleos de Venezuela (PDVSA) will begin selling bunker fuel via two Internet sites later this month, its first sales project across the Web, a company official said. PDVSA will offer fuel from its terminal in Freeport, Grand Bahamas Island to shipping companies via two industry Internet sites: www.oceanconnect.com and www.bunkerstem.com. "I believe that before the end of the month, in one or two weeks, we will be selling fuel (over the Internet)," said Rafael Vilagut, commercial support manager for the project. PDVSA hopes to expand the sales project later this year to sell bunker fuels from its other terminals on the Venezuelan coast. The company will also consider selling cargoes of other fuels via the Internet.

Purvin & Gertz Residual Fuel Market Outlook

Purvin & Gertz announced the completion of the Residual Fuel Market Outlook: Impact of Bunker Quality Changes on Marine Fuels & Refining. This comprehensive study includes an analysis of the issues, balances and economics of bunker fuel, stationary fuel oil and residual refinery feedstocks. Emissions limits agreed by the International Maritime Organization (IMO) and rapidly being adopted by nations will change marine bunker fuel qualities and indeed the type of fuel consumed. This report provides insight into the complex inter-industry compliance issue. The possible adoption of onboard ship scrubbing is analyzed in the study through two compliance scenarios, each providing a complete balance and pricing analysis.

GAC Bunker Fuels Strengthens HQ Team

GAC Bunker Fuels Limited has appointed two new UAE-based bunker traders as part of its regional expansion plan. Georgia Paravalou will trade and broker marine fuels in her new role. An economics and management graduate, she joins GAC Bunker Fuels from AP&A. Ltd, where she worked as a shipbroker, coordinated the marketing department and developed business in the UK and South China. Anthony Inglis is charged with expanding GAC's bunker business in the Middle East and developing bunkering operations in Sub-Saharan Africa. He joined GAC Bunker Fuels from Weatherford International, where he served as a Procurement and Logistics Co-ordinator for the same market. says Nicholas Browne, Global Director of GAC Bunker Fuels.

GAC Bunker Fuels' additional services at Galle, Sri Lanka

Courtesy GAC Bunker Fuels

GAC Bunker Fuels and its local partner in Sri Lanka, Interocean Energy (IOE), have moved the bunker barge MT 'Kandy' to Galle to meet growing demand for bunker supplies at the port on the southern tip of the island nation. Thanks to its proximity to international east-west shipping lanes, Galle is a popular choice for vessels taking on supplies. For more than two decades, the GAC Group has taken advantage of that strategic location, with its Ship Supply base at Galle with a fleet of twelve craft serving ships passing off port limits (OPL).

Vitol Supplying Bunker Fuel to Houston, Mississippi River

Press release -- Vitol announced it has begun supplying physical bunker fuel to Houston and the Mississippi River. Bunker grades RMG, RMK and DMA 0.1 percent will be marketed under the V-Marine Fuels brand, on a retail (delivered) basis in Houston. V-Marine Fuels currently supplies physical bunker fuel to ships in the ports of Singapore, Tangjong Pelepas (Malaysia), Fujairah & Khor Fakkan (UAE), Hamburg and Bremerhaven (Germany),  Canaveral (USA), the Thames River, English Channel & Northern France (UK & France) and Rotterdam (Netherlands).  

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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