Monjasa Expands into Northern Europe and France
Monjasa expands its reach to Northern France and goes from two to three supply vessels in Northwest Europe. Providing a niche market alternative to the Amsterdam-Rotterdam-Antwerp (ARA) bunker hub has proven relevant for a growing number of customers and volumes are increasing. Steadily growing demand in the English Channel allows Monjasa to expand its services to cover Northern France as well. Monjasa is able to cover port areas from Dunkerque, Calais, Dieppe, Le Havre and all the way to Brest.
Monjasa Acquires Bunker Supply Vessel for English Channel Operation
Monjasa acquires the 3,600 DWT tanker, MT Fredericia for continued bunker operation in the English Channel. Leading up to the acquisition, the vessel has been on time charter by Monjasa for several years and the ceaseless high performance of the vessel now leads to definitive Monjasa ownership. In 2016, Monjasa established a niche market in the English Channel as an alternative for shipowners and operators taking bunkers in the ARA hub. In this setup, MT Fredericia plays a significant role and currently performs exclusive bunkering operations in the Portland…
Freezing Med Attracts Unusual Diesel Cargoes
Tankers diverted in mid-Atlantic to Med; in rare arbitrage, cargoes from Europe into Med. At least one tanker carrying diesel en route to New York has been diverted in the mid-Atlantic to the Mediterranean, where freezing weather from North Africa to the Balkans has boosted demand for heating oil and sharply lifted prices. At the same time, two 30,000-tonne tankers - the Torm Gyda and Nord Bell - have been booked by Glencore to go from northwest Europe to the Mediterranean, according to shipping data and traders.
Europe Distillates-Cracks Rise Despite Wave of Imports
Benchmark diesel barge refining margins in northwest Europe rose at the start of the week despite plentiful imports from Asia, the Middle East and the United States. Recent highlights include:* In recent days at least seven Diesel cargoes carrying around 550,000 tonnes were booked out of Asia and the Middle East to northwestern Europe as the arbitrage on the route remained open, according to shipping data and traders.* In addition the arbitrage from the U.S. Gulf coast was also open with at least eight tankers booked to go to Europe, carrying around 350,000 tonnes of products, most likely Diesel.* Benchmark crude prices were down 1.2 percent.GASOIL* One barge of 0.1 percent sulphur content gasoil traded at a discount of $13 to the July diesel contract.
REGULATORY WATCH: The Global 0.50% Sulfur Cap: 30 months and counting down …
Industry frets about the coming deadline. Shipping desperately wants to be ready, but will global shore-based infrastructure and refining capacity match the demand that is sure to come? And … are regulators listening to industry’s concerns? In early June, the U.S. Coast Guard (USCG) and U.S. Environmental Protection Agency (EPA) held a public workshop in Washington to help the agencies prepare for the January 1, 2020 deadline for worldwide implementation of very low sulfur marine fuel that meets the new 0.50% sulfur cap as set forth by the International Maritime Organization (IMO).
Singapore Fuel Oil Trading Heats Up
Singapore fuel oil trading volumes have soared after the 380-cst front-month time spreads widened by around $1 per tonne from the previous day's close, in what could develop into an aggressive trade strategy that occasionally rattles this market. The 380-cst March/April time spreads on the Intercontinental Exchange (ICE) saw about 700,000 tonnes in contracts trade after physical trading in the S&P Global Platts Market-on-Close (MOC) price assessments concluded at 0830 GMT on Tuesday. The flurry took the spreads to about $1.70 a tonne in post-European trade by 0400 GMT on Wednesday, from around plus 70 cents a tonne previously. Traders…
IBIA in Attack Mode
The IMO’s MEPC 70 proposals for a marine fuels sulfur cap of 0.5% to be in place by 2020 have attracted severe criticism from several major stakeholders in the maritime sector, including the International Bunker Industry Association, the organization that defends the interests of bunker fuel suppliers. The IBIA has stated that several unknowns remain about the proposed limit and has asked whether assumed global capacity will translate into actual marine market supply in 2020: “Will refiners produce suitable fuels, and what will these fuels look like?
Med Diesel Diffs at 21-month High
A closed arbitrage from other regions and refinery shutdowns have tightened the Mediterranean diesel market driving cargo premiums to ICE gasoil futures to their highest since August 2015. "It's almost impossible to find cargoes for the first half of May in the Mediterranean," one trader active in the region said. "Arbitrage from the U.S. (into the Mediterranean) is not really working, or just working on a 10-minute basis so nobody is able to fix cargoes," he added. As a result…
Energy Island: Europeans Mull North Sea Hub
A plan set in motion by three European transmission system operators (TSO) aims to develop mammoth offshore wind farm infrastructure in the North Sea supported by at least one manmade island. First unveiled in June 2016, plans for the North Sea Wind Power Hub project will now press ahead to develop a large offshore renewable European electricity system following the signing of a trilateral agreement by TenneT TSO B.V. (Netherlands), Energinet.dk (Denmark) and TenneT TSO GmbH (Germany) in Brussels on March 23, 2017.
SLNG Terminal Performs Small Scale LNG Reload First Time
Singapore LNG Corporation Pte Ltd (SLNG) has successfully performed its first small scale Liquefied Natural Gas (LNG) Gas-Up/Cool-Down and Reload at its Terminal on Jurong Island. The operation was carried out from 18-20 June 2017 for the newly built, 6,500m3, Cardissa, an LNG bunker vessel owned by Shell and co-financed by the European Union’s Connecting Europe Facility that will serve customers in Northwest Europe. The operation was conducted at the SLNG Terminal’s Secondary Jetty, which is originally designed to accommodate LNG vessels from 60,000m3 to 265,000m3 in size.
The Impact of Future Global Tides on Energy
The first comprehensive study of the impact of global sea-level rise on tides has implications for future coastal flood risk, harbour management, and the long term planning of tidal energy sites. This research, published in Continental Shelf Research by scientists at the National Oceanography Centre (NOC), University of Southampton and Deltares, shows that sea-level rise can significantly alter tides across the world in many different ways in both space and time. The change will be most pronounced in shelf seas on the east coast of the Americas…
Asia's Booming Diesel Market Draws Rare European Cargoes
Rare cargoes booked out of Europe to Asia, Middle East; Indian demand, refinery maintenance boost Asian prices. Oil traders are shipping diesel out of Europe to Asia and the Middle East where strong demand and tighter supplies have boosted prices, in a rare arbitrage that reverses traditional routes. At least three 90,000 tonne diesel cargoes were booked in recent days out of northwest Europe options to go to Singapore and the Middle East, shipping data showed. BP chartered the…
Shell Strengthens LNG Bunkering Business
The Hague-based LNG giant Shell has announced two significant milestones for its liquefied natural gas (LNG) marine fuels business in northwest Europe. Shell's ultra modern bunkership Cardissa Western LNG BV Trading Rotterdam BV (Shell) has arrived in Rotterdam. This seaworthy ship enables Shell to supply customers across Europe with liquefied natural gas (LNG) from the Gas Access to Europe (Gate) terminal in Rotterdam. The Cardissa can transport 6,500 m3 of LNG. Shell also finalised…
First Containership Retrofitted to Run on LNG
The world’s first containership retrofitted with a liquefied natural gas (LNG) engine was launched on August 23, 2017. Since May 2017, the 1,000 TEU containership Wes Amelie, owned by Wessels Reederei based in Harem/Ems, has undergone an engine conversion at the German Dry Docks in Bremerhaven, and from this point forward will run on LNG fuel. Experts from the Hamburg based company Nauticor were selected to conduct the vessel’s initial LNG bunkering at the Kühlhauskai in the Port of Bremerhaven. In total, four trucks of LNG were brought to the German port and transferred to the vessel.
Saudis Raise December Crude Prices for Asia Exports
Saudi Aramco has raised the December official selling price (OSP) for its Arab Light grade for Asian customers by 65 cents a barrel versus the previous month to a premium of $1.25 a barrel to the average of the Oman and Dubai benchmarks, it said on Thursday. That raises the December Arab Light OSP to the highest premium since September 2014, Reuters data showed. The price for Arab Super Light was raised by 45 cents a barrel and the OSPs for Arab Extra Light and Arab Medium rose by 65 cents, Aramco said, confirming what two sources told Reuters earlier on Thursday.
Former Harkand DSVs Join Boskalis Fleet
Royal Boskalis Westminster N.V. has added two 115.4m diving support vessels (DSVs) to its fleet, in line with the company’s plan to expand its subsea services offering. Boskalis said it reached an agreement with the bondholders of the two former Harkand vessels under which it has acquired the DSV Atlantis for approximately $60 million and has signed a three-year bareboat charter for her sister vessel Da Vinci along with a right of first refusal in the event of a sale. The vessels…
Gate Terminal Expanded for Handling Small LNG Vessels
Gate terminal and its shareholders Gasunie and Vopak are proud to announce that the LNG terminal at the Maasvlakte in Rotterdam has been expanded to include a third berth and special infrastructure for the loading of small LNG vessels. In conjunction with LNG bunker vessels, the new berth will in future also make it easier for ocean-going vessels to fill up with LNG in Rotterdam. As with other kinds of maritime fuel LNG can be pumped on board large ocean-going vessels using bunker vessels.
Antwerp to Manage Port of Cotonou
Port of Antwerp International (PAI), the consultancy and investment subsidiary of Antwerp Port Authority, has been appointed by the Council of Ministers of the West African country of Benin to modernise the port of Cotonou. This port is the economic heart of Benin, handling an annual freight volume of around 12 million tonnes. In the longer term, the port authority wants the port to grow further, but both the infrastructure and the organization are outdated. The government therefore decided to temporarily outsource the management of the port.
Shell Loads First LNG Vessel at Gate Terminal
Shell loads first LNG vessel, using new LNG fuel infrastructure at Gate terminal. The new LNG fuel infrastructure included the construction of a new berth. This new berth has now started operations. The loading of Shell’s chartered LNG vessel, the Coral Methane happened on September 19th. In July 2014, Shell took the Final Investment Decision to buy capacity at the Gas Access to Europe (Gate) terminal, which enabled the investment in new, dedicated liquefied natural gas (LNG) fuel infrastructure. The new LNG fuel infrastructure included the construction of a new berth.
World's First LNG-Powered Cruise Ships: Shell to Supply Fuel
Shell Western LNG B.V. (Shell) signed a supply agreement with Carnival Corporation & plc (Carnival) to supply liquefied natural gas (LNG) to fuel two of the world’s largest passenger cruise ships. Under the agreement, Shell will supply LNG for the world’s first LNG-powered cruise ships due to start sailing in northwest Europe and the Mediterranean in 2019. This will be the first time LNG in dual-fuel engines will be used in the cruise industry to power ships both in port and at sea.
PDVSA: 4 Cargoes of Heavy Crude for March
Venezuela's state-run oil company PDVSA has launched tenders to sell on the open market up to four cargoes of heavy crude for March delivery at its Jose and Puerto Miranda terminals, according to document seen by Reuters on Monday. * Payment must be made in euros three days before the loading window, according to the tender's terms. The TJP crude must be exported to the U.S. West, East or Gulf Coasts, Northwest Europe or the Mediterranean. * Bids will be accepted through Feb. * PDVSA earlier this month offered to sell 2 million barrels of diluted crude oil (DCO), also for March delivery.
ExxonMobil Reveals First Locations for 2020 Compliant Fuels
ExxonMobil announced it will supply fuels that comply with the International Maritime Organization’s (IMO) 0.5 percent sulfur cap in ports in Northwest Europe, the Mediterranean and Singapore, with additional locations to be announced throughout 2018. “Our new suite of compliant fuels will include residual and distillate grades. We are at a very advanced stage in the development of these fuels, therefore making us well positioned to help customers meet the reduced sulfur limit ahead of the IMO’s 2020 implementation date,” said Luca Volta, Marine Fuels Venture Manager, ExxonMobil.
Samskip Nor Lines' Service to Call Rotterdam
Samskip subsidiary Nor Lines will include calls at Rotterdam for the first time in its weekly multipurpose liner service connecting to Western, Mid and Northern Norway, with effect from June 1st. The service is provided by Nor Lines' state of the art, LNG-fuelled vessels MV Kvitnos and MV Kvitbjorn. These flexible ships will sail in 14-day loops, connecting Rotterdam and Eemshaven with Norwegian ports from Hammerfest in the far north, and taking in calls including Sandnes/Tananger, Bergen, Trondheim, Ålesund, Bodo and Tromso.