Neste Offers LSFO in Germany
Finland’s oil refiner Neste Corporation has made low-sulphur fuel oil (LSFO)available in Bremerhaven, Germany in response to the upcoming IMO 2020 global regulation.Neste and the German BMT Bunker und Mineralöltransport GmbH have signed a partner agreement concerning distribution and sales of Neste MarineTM 0.5. This new marine fuel, containing maximum 0.5% sulphur, has been available in Bremerhaven, Germany, since the beginning of November 2019. BMT is a bunkering services company with a long experience in the sales of marine fuels.
Floating Storage for IMO 2020 Fuel builds in Asia
Stockpiles of low-sulphur marine fuels held in floating storage around the Singapore trading and pricing hub are steadily growing ahead of a 2020 global deadline for rules that have shaken the global oil refining and shipping industries.A total of 32 ships, mostly supertankers capable of carrying 300,000 tonnes or more of oil, are currently anchored in Malaysian waters near Singapore accumulating stores of IMO-compliant fuels on board, according to data released by intelligence…
U.S. Shipping Sanctions Give Boost to EU Refiners
U.S. sanctions imposed last month on subsidiaries of vast Chinese shipping fleet Cosco have given an unexpected boost to European refiners as less crude oil from the North Sea and West Africa heads east, traders and analysts said.Freight rates have soared as oil producers scramble for non-blacklisted vessels, discouraging longer-distance voyages.Complex refining margins for advanced facilities capable of extracting even more valuable products like diesel and gasoline, have been especially strong in Europe, industry sources said.The U.S.
U.S. Shipping Sanctions Give Boost to EU Refiners
U.S. sanctions imposed last month on subsidiaries of vast Chinese shipping fleet Cosco have given an unexpected boost to European refiners as less crude oil from the North Sea and West Africa heads east, traders and analysts said.Freight rates have soared as oil producers scramble for non-blacklisted vessels, discouraging longer-distance voyages.Complex refining margins for advanced facilities capable of extracting even more valuable products like diesel and gasoline, have been especially strong in Europe, industry sources said.The U.S. sanctions have had a particularly heavy impact on the cost of hiring very large crude carriers (VLCCs)…
U.S. Sanctions Deal Blow to LSFO for 'IMO 2020'
Highly sought after types of oil best suited to making cleaner shipping fuel are suddenly finding they are a tougher sell for thirsty East Asian markets, traders say, in an unintended consequence of U.S. sanctions on a Chinese shipping fleet.With just over two months until environmental rules are set to mandate the biggest changes to ship power in over a century, certain rare types of West African oil have soared in value but have had to be marked down due to the higher costs of transport.The United States imposed sanctions on units of China's COSCO on Sept.
Shipping Confidence Dips as Trade War Worries Weigh
Confidence in the shipping industry fell in the past three months to its lowest level for two and half years, according to the latest Shipping Confidence Survey from leading shipping adviser and accountant BDO. Yet owners, charterers and managers were more confident than they were at the time of the previous survey in May 2019.The average confidence level recorded by the survey in the three months to end-August 2019 was 5.8 out of a possible maximum of 10.0. This compares to the…
GP Global Delivers its First LSFO Bunker Fuel in Fujairah
Oil trader and bunker provider GP Global delivered its first barge of low-sulphur fuel oil compliant with IMO regulations on sulphur emissions into Fujairah in the United Arab Emirates, it said on WednesdayThe company delivered a 6,000-tonne bunker barge at the port, a main hub in the Mideast Gulf region for bunker operationsFrom the start of 2020 all ships will be required to burn fuel with maximum 0.5% sulphur, down from 3.5% sulphur currently, unless they have sulphur cleaning kits called scrubbers, according to International Maritime Organization regulations (Reporting by Ahmad Ghaddar; Ed
New Ship Emission Regs: Dirty Fuel Down but Not Out
Asia's spot premium for 380-centistoke (cst) high-sulphur fuel oil (HSFO) is expected to ease gradually from its recent record highs as shippers adopt cleaner marine fuels next year to meet new, tougher rules on emissions from ships.But as the deadline approaches, analysts and traders agree that demand for the dirtier HSFO will not die out completely as an increasing number of ships get equipped with sulphur-cleaning devices in the coming years to combat pollution.Starting Jan.
IMO2020: Asian Hydrogen Demand to Rise
Asia's hydrogen gas demand will rise as the region's oil refineries use the gas to produce low-sulfur fuel to meet new environmental regulations, the head of the world's largest industrial gas producer said."The demand for hydrogen has grown steadily over the years at a much faster rate than GDP growth," Linde Plc's Chief Executive Officer Steve Angel told Reuters ahead of the groundbreaking ceremony for Linde's $1.4-billion gas project on Singapore's Jurong Island."The twin drivers…
Singapore's Ocean Tankers tests IMO-2020 Compliant Fuel
Off the coast of Singapore, the world's largest ship refuelling centre, a bunker barge sidled next to the supertanker Pu Tuo San to fill the giant vessel with a new type of fuel that will meet global standards that start up in January.With a little over five months left until stricter marine fuel rules come into effect, shippers such as Singapore's Ocean Tankers that own the very large crude carrier (VLCC) Pu Tuo San have started testing out lower sulphur fuel to prepare their…
Argus LSFO Price Assessments for 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.
HMM Intros Scrubber Installation Fund
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…
How Refiners Plan to Grapple With Fuel Oil Output After 2020
High-sulphur fuel oil (HSFO), essentially the leftovers of an oil refiner's output, will still flow from refineries around the world even after new rules start up in 2020 curtailing its use in the global shipping fleet, a Reuters survey showed.Sixty percent of the 33 refineries contacted by Reuters in a global survey will still produce HSFO in 2020 although the supply will tighten as 70 percent of these refiners plan to reduce their output.Starting that year, ships will have to use marine fuel…
Hapag-Lloyd to Convert Containership to LNG
As the maritime industry increasingly searches for means to reduce emissions in the face of legislative mandate, from Germany comes news of a unique 'world first' project to convert the 15,000 TEU containership Sajir to LNG, resulting in an estimated reduction of CO2 emissions from 15 to 30 percent.While the use of LNG as fuel in the commercial newbuild ship sector continues to gain traction, the refit of existing ships to LNG has been slower in developing, owed mainly to the…
Woodmac: 10% of Marine Fuel to be Scrubbed
Recent research from Woodmac makes some fairly bold and insightful predictions on the future of maritime fuel as the clock ticks toward 2020 and new fuel rules from the IMO that will dramatically reduce the level of sulfur emissions from ships.* Research firm Woodmac sees a rise in the use on ships of "scrubbers", the equipment to clean up sulfur emissions, before the International Maritime Organization imposes new rules from Jan.
New Marine Fuel Recovery Mechanism is Causal, Transparent and Simple
With a stricter International Maritime Organisation emissions regulation (IMO 2020) coming into force as of 1 January 2020, the new sulphur cap for compliant fuel oil will be lowered from 3.5% to 0.5%.A press release from Hapag-Lloyd said that this new regulation will significantly improve the ecological footprint of the shipping industry, and the majority of all vessels are expected to be operated with low-sulphur fuel oil by then.Using low-sulphur fuel oil will be the key solution for the shipping industry and Hapag-Lloyd to remain compliant.
Oil Markets Adjust to Japan’s Disaster
Singapore, 16 March — The 11 March earthquake and tsunami in Japan, and the continuing nuclear crisis that they triggered, will have significant repercussions in global energy markets, according to international energy price reporting agency Argus. Japan will rely more on oil for power generation at least until the end of this year, altering regional balances for some grades of crude and providing a large boost in demand for low-sulphur fuel oil (LSFO). And it will seek additional LNG supplies. The quake and tsunami knocked nuclear plants with 11GW of generating capacity off line, and another 1.1GW nuclear plant was shut for maintenance at the time, leaving 25pc of Japan's nuclear capacity shut after the disaster.
Alfa Laval Wins Repeat PureSOx Order from Danish Ferry Operator
Alfa Laval won a repeat order for its PureSOx exhaust gas cleaning systems valued at approximately €19.5 million from Danish ferry operator DFDS. The contract was signed in June, and the order was booked and communicated to stakeholders in the second quarter of 2013. Delivery is scheduled from January to July 2014 with retrofit installation and commissioning of eight DFDS vessels – five roll-on/roll-off (Ro-Ro) vessels and three roll-on/roll-off passenger (Ro-Pax) vessels – to follow immediately thereafter.
Shell Mulls Refinery Upgrade to Meet 2020 Sulphur Rules
Royal Dutch Shell is considering expanding the capacity of one of its German refineries to make oil products that meet an upcoming cap on the sulphur content of fuels used in shipping. In the past few days, Rheinland refinery representatives met local officials and environmental groups to present preliminary plans for an investment at the plant's 140,000-barrels-per-day Wesseling site, Shell said on the refinery's website. Shell is considering "a modernization of the residue processing unit at Rheinland refinery and to enhance the desulphurisation plant there", Shell told Reuters in an emailed statement. Shell declined to give further details on the project, saying it was in the "very early phase of the planning process".
TOTAL Increases Le Havre Options with New Barge
Total Marine Fuels has increased its bunkering capacity at the port of Le Havre and at the Port 2000 container facilities with the delivery of its new bunkering barge, FS Sara. At the same time, TMF is also making low-sulphur fuel oil available at the French port for the first time. The double-hulled seagoing FS Sara has capacity for 7,500 MT of fuel oil and 500 MT of MGO, and is to start work immediately. TMF products now available at Le Havre include RMK700 (500cSt), IFO 380 / 180, LSFO 380 / 180 and MGO DMA 0.1 percent.
S.Korean Refiners Look to Cash in on 2020 Mandate
Three refiners to spend more than $5 bln to upgrade or add units. South Korean refiners are planning to spend over $5 billion on plant upgrades in response to tighter rules on shipping fuel, boosting production of low-sulphur fuel oil as well as other high-end products. The refiners hope the investment, which comes ahead of the 2020 introduction of the new rules, will make them one of the biggest beneficiaries of the new regulations, with many competitors still waiting to commit to new spending. "Not many refiners are doing so.
Moore Stephens: Shipping Confidence Dips
Shipping confidence dipped slightly in the three months to end-November 2018, according to the latest Confidence Survey from international accountant and shipping adviser Moore Stephens.The average confidence level expressed by respondents fell to 6.0 out of a maximum score of 10.0, compared to the 6.3 recorded in August 2018.Confidence on the part of all main categories of respondent was down, with the exception of brokers, where the rating increased from 4.9 to 5.2. Owners’ confidence fell to 6.4 from 6.8…
Euronav planning LSFO STS at Malta
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.