Fuel Oil News

15 Apr 2019

Thorco Invests in Navis

Image: Navis

Copenhagen-based Thorco Projects has selected Navis’ Bluetracker solution to monitor and analyse the fuel consumption and vessel performance of its own and chartered vessels. Navis is a provider of maritime software solutions for efficient and compliant cargo and vessel performance.Bluetracker One’s Charter Monitor module will enable Thorco to monitor the operational speed versus fuel oil consumption in compliance with the agreed terms of the charter party.The specialist in global project shipping operates one of the world’s largest multi-purpose fleets…

11 Apr 2019

Study Shows LNG Forming Pathway to IMO 2050

Pic: SEA\LNG

Greenhouse Gas (GHG) reductions of up to 21% are achievable now from LNG as a marine fuel, compared with current oil-based marine fuels over the entire life-cycle from Well-to-Wake (WtW).An independent study report confirms that emissions of other local pollutants, such as sulphur oxides (SOx), nitrogen oxides (NOx) and particulate matter (PM), are close to zero when using LNG compared with current conventional oil-based marine fuels.The study, commissioned by SEA\LNG and SGMF, was conducted by leading data and consultancy provider thinkstep according to ISO standards.

09 Apr 2019

Shell Marine Launches New Lubricant

Pic: Shell Marine

Shell Marine has introduced a new two-stroke engine cylinder oil specifically for use with engines running on 0.5% sulphur content very low sulphur fuel oil (VLSFO) ahead of the IMO sulphur cap 2020.With a Base Number of 40, Shell Alexia 40 has been developed to optimise equipment performance and condition as ship owners and charterers prepare for the International Maritime Organization’s (IMO’s) 0.50% global sulphur limit for marine fuels in 2020.Shell Marine expects most of…

09 Apr 2019

MSC Boxship Spills Oil at Port of Sines

Pic: MSC

Work is ongoing to contain a “large oil spill” that contaminated waters in Port of Sines, Portugal late on Thursday night during a routine refuelling operation.MSC Sandra Panama-flagged container ship, operated by Swiss Mediterranean Shipping Company (MSC) has reported leakage of marine fuel oil while bunkering in the Sines harbour late on 4 April."The authorities were immediately informed and action was swiftly taken to minimize the environmental impact of the incident. We understand that removal of the oil from the water has progressed at a good pace…

08 Apr 2019

IMO 2020 Impact on Fuel Bunker

Graph: Rystad Energy

When new International Maritime Organization’s (IMO’s) bunker fuel regulations come into effect on January 1, 2020, there remains uncertainty regarding the availability and pricing for all marine fuel, as owners grapple with technical solutions for compliance.The sulfur content limits in bunker fuels used outside the designated Emission Control Areas (ECAs) will be reduced to 0.5% (from 3.5%) to reduce air emissions from shipping.High sulfur fuel oil (HSFO) currently represents nearly 80% (approx.

05 Apr 2019

World’s Largest STS Transfer Hub Comes in Malaysia

Seated: Dato. Shahrul Amirul (left), Chairman of KA Petra and Mr. Eric Ip (right), Group Managing Director of Hutchison Ports. Standing (left to right): Mr. Anthony Loke, Minister of Transport of Malaysia; Tun Dr. Mahathir Muhammad, Prime Minister of Malaysia; Dato Sri Saifuddin Nasution Ismail, Minister of Domestic Trade and Consumer Affairs of Malaysia. Photo: Hutchison Ports

KA Petra, a Malaysian ship-to-ship (STS) transfer specialist, has signed a Heads of Agreement (HOA) with Hutchison Port Holdings to jointly develop the world’s largest STS transfer hub in the country.Under the terms of the HOA, KA Petra will have 70% interest in the project, whilst Hutchison Ports will take a strategic 30% stake.Based on preliminary studies, construction of the STS Hub is estimated to cost USD150 million to USD180 million, and will be funded by a combination of internally generated funds and debt financing.

04 Apr 2019

Rystad Expects Oil Price Rally in H1 of 2020

Graph: Rystad Energy

The energy research and business intelligence company Rystad Energy expects that a short-lived price rally through the first half of 2020 as oil prices approach $70 a barrel.It will then lose momentum and be replaced by a need for additional production cuts by Russia and the cartel of oil producing countries, OPEC, the Norway-headquartered firm said.“We retain our bullish stance for the second half of 2019 and first half of 2020 as we anticipate OPEC+ to extend production cuts through 2019…

02 Apr 2019

Torqeedo's Propulsion for VIKING LifeCraft

Photo courtesy of Torqeedo

Torqeedo  developed a specialized high-thrust electric propulsion system for VIKING’s revolutionary new LifeCraft survival craft, which are designed to speed safe evacuation of hundreds of passengers from ships at sea.The 203-passenger LifeCraft is a motorized inflatable vessel designed to deploy from a shipboard storage/launch station. Passengers board the boats through escape chutes. Once each boat is fully loaded, the crew maneuvers it to a safe standoff distance from the ship…

01 Apr 2019

COSCO Signs LSFO Supply Deal with Petro China

Pic: COSCO Shipping Lines

Chinese state-owned Shipping and logistics services supplier company COSCO Shipping Lines has signed a low sulfur fuel oil (LSFO) supply agreement with Double Rich Limited, a subsidiary of China Marine Bunker (Petro China).According to the agreement, Double Rich limited will provide the Shipping line with ‘fuel oil with sulphur content not exceeding 0.5% m/m’ conforming to the regulation of International Maritime Organization (IMO).By keeping promoting and applying diverse and advanced emission reduction technology and optimizing management pattern…

29 Mar 2019

Containership Spills Oil in New York

A containership has reportedly leaked fuel oil into the Arthur Kill waterway near Staten Island, N.Y., the U.S. Coast Guard said.The Coast Guard said it is working alongside partner agencies to respond to the spill, which occurred while the vessel was moored at the Global Marine New York Container Terminal on Thursday afternoon. The amount of fuel spilled is currently unknown, and the cause of the spill is under investigation, the Coast Guard said.A Unified Command has been established on scene to coordinate cleanup efforts. Containment boom has been placed around the vessel and there are multiple oil spill response vessels actively…

28 Mar 2019

Tanker Bottleneck Eases for Port of Houston

The sprawling Houston area refining complex adjacent to the Houston Ship Channel. CREDIT: AdobeStock / © Irina K)

Four tankers on Thursday were preparing to offload or pick up cargoes in the busiest U.S. oil port, the first signs of an easing of the bottleneck that cut 1 million barrels per day of shipments, according to vessel tracking data.The Houston Ship Channel reopened this week with operating restrictions following a fire at Mitsui & Co Inc's Intercontinental Terminals Co (ITC) in Deer Park, Texas. That blaze sent fuel and chemicals into the waterway, which connects Houston to the…

26 Mar 2019

IMO 2020: Exxon Mobil Projects 25% Decline in High-Sulfur Fuels

© Nickolay Khoroshkov/AdobeStock

Exxon Mobil Corp expects high-sulfur fuel oil demand to fall 25 percent by 2025, as a new set of emission regulations from the International Maritime Organization capping sulfur content in shipping fuel at 0.5% kicks in in 2020, a top-level official at the U.S. oil and gas company said on Monday.The International Energy Agency has forecast high-sulfur fuel oil demand to fall 60 percent next year, while marine gas oil demand to more than double.Exxon's forecast comes as its refining business is struggling to find enough heavy crude to make fuel oil and other distillates, in the face of U.S.

26 Mar 2019

Argus LSFO Price Assessments for Fujairah

Pic: Port Of Fujairah

Oil price reporting agency Argus Argus has launched low-sulphur fuel oil (LSFO) price assessments for the ex-wharf and delivered bunker markets in Fujairah.Fujairah is a major bunker fuel hub on the Gulf of Oman in the UAE, supplying up to 1mn t/month to vessels.The Argus LSFO 0.5pc sulphur prices for the ex-wharf and delivered bunker markets are the first assessments to be launched in the Fujairah market for the quality of fuel needed to comply with the International Maritime Organisation's (IMO) new sulphur limits for marine fuel.

25 Mar 2019

CMA CGM Boxship Refuels with Bio-Fuel

The CMA CGM refueling operation (CREDIT: GoodFuels Marine

Previously announced IKEA, CMA CGM, GoodShipping Program and Port of Rotterdam pilot celebrates milestone moment in industry-first partnership.IKEA Transport & Logistics Services, CMA CGM, the GoodShipping Program and the Port of Rotterdam announced the successful refueling on Saturday, March 23 of the CMA CGM White Shark with sustainable marine bio-fuel oil.The test, which represents a major step for the decarbonization of ocean freight, saw the companies work together in a first-of-its-kind partnership for the shipping industry.

24 Mar 2019

Hydrogen Fuel for Zero Emission Cruise Ships

Pic: GE Power Conversion

General Electric’s (GE) Power Conversion business and Nedstack, Dutch fuel cell manufacturer, have entered into a partnership to develop hydrogen fuel cell systems for powering zero-emission cruise vessels.The two companies envisage using this technology on passenger ships, replacing traditional diesel engines with fuel cells, and heavy fuel oil (HFO) with hydrogen."This partnership brings together GE’s recognized expertise in cruise electrical power and propulsion solutions plus system integration capability…

21 Mar 2019

HMM Intros Scrubber Installation Fund

Photo: From left to right: Young-Jun Yoon (CEO of PANASIA), Jun-Sup Shin (CEO of DSEC), Myeong-Ho Ha (CEO of Hyundai Corporation), Ho-Seon Hwang (KOBC), C.K. Yoo (President & CEO of HMM), Seok-Won Seo (President & CEO of SKTI), Kwang-Hun Ahn (CEO of Hyundai Global Service), and Ki-Cheon Nam (CEO of Multi Asset Global Investments)

South Korean shipping company Hyundai Merchant Marine (HMM) announced that it has signed a memorandum of understanding (MOU) to establish a win-win fund for scrubber installation in preparation for IMO 2020 and to seek cooperation in the shipping-related industries.The total investment amount will be KRW 153.3 billion (USD 135.8 million) which consists of HMM’s investment of KRW 46 billion and the rest of the amount of KRW 107.3 billion (including Korea Ocean Business Corporation’s…

19 Mar 2019

Inert Gas Production for Alfa Laval Training Center

Photo: Alfa Laval

An Alfa Laval Smit Combustion system (FU type) is now installed at the Alfa Laval Test & Training Center in Aalborg, Denmark. The system, which adds inert gas production to the center’s already comprehensive range of full-scale vessel applications, will ensure that Alfa Laval remains at the forefront of developing and optimizing inert gas systems.Inaugurated in 2014, the Alfa Laval Test & Training Center is essentially a full-sized machine room on land, with equipment from all of Alfa Laval’s marine product groups installed in process lines as they would be on a commercial vessel.

19 Mar 2019

Euronav planning LSFO STS at Malta

File Image: A EuroNav VLCC underway at sea (CREDIT: EuroNav)

Euronav has chartered a tanker to bring a 30,000 tonne cargo of low-sulphur fuel oil from northwest Europe to Malta, where its megatanker, Oceania, has been parked offshore since Jan.

18 Mar 2019

Stena Bulk to Install EGS on 16 Tankers

Photo: Stena Bulk

Stena Bulk has made a major investment in scrubbers and before January 2020 16 units will be installed. 10 IMOIIMAXes, 5 Suezmaxes and one of standard MR will be equipped with the after-treatment system. The total investment is worth 55 MUSD, including equipment, installation and time out of service. Payback time of investment is between 1,5 and 2,5 years which has already been secured by hedging the fuel spread.By installing scrubbers on board, Stena Bulk will comply with the upcoming IMO Sulphur cap regulation…

18 Mar 2019

Sovcomflot Updates Fleet Strength

Image: PAO Sovcomflot

Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot (SCF Group) said that Yevgeny Primakov (Icebreaker Ice-15) joined the fleet, the final vessel in a series of four new generation IBSV’s, engaged under a long-term time-charter agreement with Sakhalin Energy.The shipping company added that this makes a total fleet of 10 supply and standby vessels servicing Nogliki Base Camp (SEIC and ENL) at Sakhalin island (Sea of Okhotsk).The world’s first Aframax tanker to use LNG as her primary fuel Gagarin Prospect (114…

15 Mar 2019

New CTVs Delivered for Hornsea Wind Farm

Photo: Incat Crowther

A pair of 39-meter multipurpose crew transfer vessels have been built by PT Bintang Timur Samudera in Indonesia and delivered to MH-O & Co to be operated for Orsted in its Hornsea Project One wind farm offshore England.According to designer Incat Crowther, the new vessels MHO Gurli and MHO Esbjerg are the largest wind farm support vessels to enter service to date anywhere in the world. They draw on Incat Crowther’s experience with larger offshore fast catamarans operating in the oil and gas industry.

12 Mar 2019

GSI Delivers VLOC to Berge Bulk

Pic: Berge Bulk

Singapore-based vessel owner and operator Berge Bulk has received the 300,000 DWT bulk carrier Berge Logan, which was built at China’s Guangzhou Shipyard International (GSI).The 327-meter-long  very large ore carrier (VLOC) is the largest bulk carrier in terms of deadweight to be built in Southern China.Sailing under the flag of Isle of Man, she will make her maiden voyage to Brazil, said a press release.Very similar in design to Berge K2, Berge Makalu and Berge Annapurna, she is equipped with energy-efficient initiatives – such as a super-efficient tuned main engine…

12 Mar 2019

HazSub Spill Response Plans

© VanderWolf Images/AdobeStock

On August 18, 1990, the Oil Pollution Act of 1990 (OPA 90) was enacted into law. Section 4202 of that Act amended the Federal Water Pollution Control Act (FWPCA or Clean Water Act) to require tank vessels and marine transportation-related facilities to prepare and submit to the US Coast Guard plans for responding, to the maximum extent practicable, to a worse case discharge, and to a substantial threat of such a discharge, of oil or a hazardous substance carried in bulk as cargo.

Maritime Reporter Magazine Cover Apr 2019 - Navies of the World

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News