CMA CGM and Total to Develop LNG Ship Refueling in Marseille
Container shipping firm CMA CGM will use the French Mediterranean port of Marseille for refueling some of its planned gas-powered vessels, backed by a supply partnership with energy group Total.Total will supply liquefied natural gas (LNG) and a refueling barge to enable CMA CGM to refuel LNG-powered vessels at the Marseille-Fos hub starting in 2021, the companies said in a joint statement on Wednesday.The initiative covers five vessels with a capacity of 15,000 twenty-foot equivalent…
IMO2020: Market Uncertainty Brings More Fuel Oil Price Volatility
The oil market has recently been shaken up by geopolitical events, but volatility in the price difference between low and high sulphur fuel cannot be explained by that alone – the uncertainty is the chaos factor.The uncertainty of the upcoming IMO 2020 Sulphur cap regulation (IMO2020) is having a big impact on the bunker market. Whereas, the price for Marine Gas Oil Low Sulphur (MGO LS) has largely remained stable, the price for High Sulphur Fuel oil (HSFO) has been become increasingly more volatile in recent months.
Fuel Spread for 32 Ports on BIMCO Website
BIMCO members can now monitor the price spread between Marine Gas Oil Low Sulphur and 380 centistoke High Sulphur Fuel Oil in 32 different ports around the world with daily information supplied by MABUX.The service is intended to assist members in making bunkering decisions before and after January 1, 2020.“We have seen significant fluctuations in the market over the past couple of months – fluctuations that can only be explained by the massive uncertainty about the future. It is currently not operating by market fundamentals.
BIMCO’s Sand to Offer Boxship Insight in Athens
BIMCO’s Chief Shipping Analyst, Peter Sand, will be speaking and providing the audience with unique insights on the container market at the European Shipping Seminar on November 27, 2019 in Athens, Greece.The European Shipping Seminar, hosted by S&P Global Platts, will discuss the various topics relating to the commercial shipping markets and take a deep dive into how the shipping industry will navigate its way through the uncertain environment of the IMO 2020 Sulphur Cap.Container shipping outlookBIMCO has persistently stressed that trade wars and protectionism are negative for shipping.
For JAXPORT, LNG Spells Success
‘A thousand firsts’ and a constantly growing list of players underscores the rapid development of LNG as a fuel – especially along the East Coast of the United States.Click on the headlines for the phrase “LNG Bunkering” and you immediately learn that it is an industry of a thousand firsts and a constantly growing list of players.“Russia's Novatek ships first LNG cargo to China via Arctic; Yamal LNG ships first LNG cargo to Spain; Qatar ships first LNG to Japan, signs accord; Japan orders its first LNG bunker vessel…
Singapore Reports Higher May Bunker Fuel Sales
Singapore marine fuel sales climbed to a four-month high of 4.283 million tonnes in May, up 1.2 percent from the previous month and 2.5 percent higher compared with a year ago, data from the Maritime and Port Authority of Singapore (MPA) showed on Wednesday.The strong volumes sold in May were largely in line with industry expectations and come despite sharply higher bunker fuel prices due to rising crude oil prices and shortages of finished grade bunker fuel oil during the month.The cost of 380-centistoke (cst) fuel oil cargoes, the mainstay bunker fuel for large vessels, in May averaged $433
Kawasaki Kisen, 3 Others Set up LNG Bunkering Ventures
Kawasaki Kisen Kaisha, Chubu Electric Power, Toyota Tsusho, and Nippon Yusen KK said on Thursday they have agreed to launch a liquefied natural gas (LNG) bunkering business in Japan and have set up two joint ventures.The companies plan to start supplying marine traffic in the Chubu region in central Japan, they said in a statement.LNG has been promoted as an alternative to bunker fuel oil for shipping lines facing a 2020 deadline to meet new international standards on sulfur emissions.(Reporting by Osamu Tsukimori; editing by Richard Pullin)
MOL on Next-generation Ship Management Support System
Mitsui O.S.K. Lines (MOL) announced that MOL and Mitsui Engineering & Shipbuilding have been jointly developing practical use applications and commercialization of the "next-generation ship management support system" and the current data collection and monitoring systems, providing the basis for an advanced new system, have upgraded the functionality. This initiative will allow enhanced operating support from shore-side systems and personnel. The two companies are working to reduce environmental impact of vessel operation by preventing problems and reducing the consumption of oil consumption…
ClassNK Launches Bunker Fuel Oil Analysis Service
ClassNK’s subsidiary ClassNK Consulting Service (NKCS) has officially launched its Bunker Fuel Oil Analysis Service. The service will provide an oil analysis report for the properties of bunker fuel oil based on the ISO8217 Standard with advice such as oil heating and purification. Testing laboratories are located worldwide in Singapore, UAE, U.K. and U.S. After sampled oil is received at the nearest laboratory from each ship, an analysis report will be provided by email and online within 48 hours.
Container Shipping Demand Weakens
The demand for container shipping is really not going anywhere at the moment. Indicators for growth in the first months of 2016 point to limited overall demand and huge variations from trade to trade. In addition, all numbers are impacted by Chinese New Year, which disrupts most trade figures for the first months of any year. BIMCO’s own data for the United States (US) imports on the east coast shows an increase of 6.5%, a significant rise even above the strong level seen in 2015.
Bunker Fuel Market Poised 460 million tons by 2020
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.
Changes in Asian Refining Bodes Well for Product Tankers: Poten and Partners
Refining capacity in Asia has been growing rapidly for many years. Not surprisingly, the vast majority of this growth took place in China, which more than doubled its refining capacity over the last 10 years. The other significant growth engine in Asia has been India. However, the impact of these two refining powerhouses on the product tanker market has (so far) been very different. While a significant portion of India’s new refining output has been exported into world markets…