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Sunday, February 17, 2019

Fuel Oil News

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…

IMO 2020: Fujairah Tightens Exhaust Rules Ahead of 2020

Key Middle East oil terminal bans open-loop scrubbersFujairah in the United Arab Emirates has become the latest major port to ban a type of fuel exhaust cleaning system to comply with a coming tightening in rules regarding global sulphur emissions, mirroring similar moves in Singapore and China.Under International Maritime Organization (IMO) rules that come into effect from 2020, ships will have to reduce the sulphur content in their fuel to less than 0.5 percent, compared with 3.5 percent now…

© stockphoto mania/AdobeStock

Ship Fuel: Singapore Bunker Volumes Dip, 2019 Uncertain

Sales of marine fuels in Singapore, the world's biggest ship fueling port by volume, totaled 49.8 million tonnes in 2018, down 2 percentfrom a record the year before, the Maritime and Port Authority of Singapore (MPA) said on Monday.December sales volumes of marine fuels, also known as bunkers, reached an 11-month high of 4.308 million tonnes, up 10 percent from November and the second-highest for the year, the data showed.The strong month helped lift Singapore's 2018 marine fuel sales figures to the second highest on record…

Ecodelta-the new LNG consuming dredger. Image:  Conoship International

Ecodelta Christened in Rotterdam

A new trailing suction hopper dredger (TSHD) Ecodelta, powered by liquefied natural gas (LNG),  was christened last Friday (January 11) in the Dutch port of Rotterdam.The dredging vessel, built at the Dutch yard Barkmeijer for shipping company Van der Kamp, is a key component of the new contract entered into by Bagger & Aannemingsmaatschappij Van der Kamp and the Port of Rotterdam Authority.In 2015, the project Ecodelta was initiated by Van der Kamp, a Zwolle-based dredging company…

© evening_tao / Adobe Stock

China Bans Open-Loop Scrubber Discharge at 'Some' Ports

China's maritime authority has banned the discharge of "wash water" used in ships to strip hazardous sulphur emissions from engine exhaust gases from Jan. 1 for some ports, according to a government document reviewed by Reuters on Tuesday.The ban on water discharge from so-called open-loop scrubbers is part of an effort to prepare for International Maritime Organization (IMO) rules that will ban ships from using fuel oil with a sulphur content of more than 0.5 percent from 2020…

Pic: NYK Group

NYK Group Aims to Stay Ahead 2022 with Digitalization and Green

NYK president Tadaaki Naito in his New Year’s speech required the employees to execute the medium-term management plan “Staying Ahead 2022 with Digitalization and Green” announced in March of last year.He chartered out  the three basic strategies in the medium-term management plan.Under the first step of “Optimizing the business portfolio,” the fundamental revision of the dry bulk business and success of the integrated container shipping line ONE have been set forth as the two key elements.In the dry bulk business…

File Image: AdobeStock © dbvirago

Shipping Ponders the Ultimate Cost of ‘Green’

Low sulphur fuels, scrubbers, LNG and other solutions are all part of the mix. Handicapping the impact of any of these options for the bottom line is anything but easy. Getting greener is not the problem; determining the best way to get there is quite another.By any measure, the business of running vessels will not be the same after January 1, 2020, when the present 3.5% limit on sulfur content will ratchet downward to 0.5%. With the implementation date for the changes, enacted…

Crowley's LNG fueled con/ro ship El Coqui, arriving at Puerto Rico for the first time. (Photo courtesy Crowley)

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…

Photo: CMA CGM

CMA CGM Takes Delivery of First LNG-Powered Vessel

The CMA CGM Group, a leading shipping group, has announced its subsidiary Containerships, an expert in Intra-Europe which it acquired in October, took delivery on December 12th of its first container ship powered by liquefied natural gas (LNG), the Containerships Nord.With Containerships, the CMA CGM Group reasserts its ambition for LNGThe 1,400-TEU (Twenty-foot Equivalent Unit) Containerships Nord  is the first of an order for four LNG-powered container ships. The following vessels…

Pic:  International Maritime Organization (IMO)

ICE to Launch Marine Futures Contracts Ahead of IMO 2020 Sulfur Cap

The Intercontinental Exchange will launch new Marine Fuel 0.5% futures contracts in advance of the implementation of the 0.5% sulphur cap by the International Maritime Organization (IMO) in 2020.The operator of global exchanges and clearing houses and provider of data and listings services said in a press release that the new contracts are expected to launch on February 4, 2019, subject to completion of relevant regulatory processes.The new contracts have been developed in response…

Image: Moore Stephens UK

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…

IOC: 5-year Tender on Scrubber-fitted Tankers

Indian Oil Corp (IOC) issued a global tender to charter scrubber-fitted oil tankers for at least five years to import Iraqi oil, a tender document seen by Reuters showed.The tender says Indian shippers will be given first right of refusal for the contract as the nation seeks to boost its shipping industry. It is seeking bids from vessels that are less than 10-years old.A scrubber is a product that strips out sulphur emissions and, in doing so, can allow shippers to use dirtier…

Maersk Chief Executive Soren Skou (CREDIT: Maersk)

Maersk Warns Trade War Will Impact Box Shipping

Top U.S. importers are stocking up on Chinese goods before new import tariffs take effect, shipping giant A.P. Moller-Maersk said on Wednesday, but warned a trade war would hit demand for container shipping in the coming years.Maersk's data indicated that imports into the United States from China had grown 5 to 10 percent year-on-year in the third quarter as companies such as Walmart and Home Depot built up inventories to avoid new import tariffs, Chief Executive Soren Skou said."The irony is that after (U.S.

© Nikita Starichenko / Adobe Stock

Argus Adds New Marine Fuel Price Assessments

Oil price reporting agency Argus has launched five new price assessments for low-sulphur marine fuels, ahead of new global rules capping the amount of sulphur in marine fuels, also known as bunkers.International Maritime Organization (IMO) regulations will cut the limit for sulphur in bunker fuels globally from 3.5 percent to 0.5 percent from the start of 2020."Argus is pleased to be taking the lead in bringing price transparency that enables this large and emerging oil market to advance trading in preparation for the IMO 2020 required fuels…

File Image / CREDIT AdobeStock / © Seafarer81

Singapore Marine Fuel Sales at 5-month High

Singapore marine fuel sales in October climbed 3 percent on year to a five-month high of 4.125 million tonnes, according to data released by the Maritime and Port Authority of Singapore (MPA) on Tuesday.The latest sales volumes were 0.3 percent higher compared to September, it showed. The higher October sales volumes reflect a slight increase in the number of ships coming to Singapore for refuelling, or bunkering, amid buoyant freight trade and easing concerns of contaminated fuels…

Photo: Royal IHC

SPARTACUS: World’s Largest Cutter Suction Dredger Launched

On November 10, Royal IHC successfully launched the Spartacus, a 44,180kW self-propelled cutter suction dredger (CSD) designed and built for DEME. The ceremony took place at IHC's shipyard in Krimpen aan den IJssel, The Netherlands. It was performed by Mrs Fabienne Ackermans, the spouse of Mr Luc Bertrand (chairman of the Board of Directors of Ackermans & van Haaren, owner of DEME).Spartacus is reportedly the world’s largest CSD and the first to be powered by liquefied natural gas (LNG). The four main engines can run on LNG, marine diesel oil (MDO) and heavy fuel oil (HFO).

© Riccardo Arata / Adobe Stock

Saras Invests in New Bunkering Terminal

Italian refiner Saras is constructing a ship-refueling terminal at its Sardinia plant and will market a new, cleaner marine fuel ahead of a major regulatory change in 2020, its chief executive told Reuters.From January 2020, the International Maritime Organization (IMO) will ban ships from using fuels with a sulphur content above 0.5 percent, compared with 3.5 percent now, in one of the biggest changes in the oil market in decades.Refineries around the world have been gearing up for the switch by reducing output of high-sulphur fuel and upgrading plants to maximize production of the cleaner…

File Image (CREDIT AdobeStock / © bvigaro

Big Oil Set to Cash in on IMO 2020 Rules

The world's biggest oil traders are gearing up to cash in on big disruptions that could hit the shipping fuel market in just over a year due to new U.N.-mandated environmental rules.International Maritime Organization (IMO) regulations will cut the limit for sulphur in marine fuels globally from 3.5 percent to 0.5 percent from the start of 2020."We're going to hopefully facilitate the new rules in 2020 by helping out the industry and the participants in general to have a reasonably smooth transition…

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer / CREDIT: Seanergy

Seanergy Maritime to Install Scrubbers on its Capesize Fleet

Seanergy Maritime Holdings Corp. announced that it has entered into commercial agreements for the installation of exhaust gas cleaning systems (scrubbers) on five of its capesize bulk carriers before the January 1, 2020 implementation date of the IMO sulfur emission cap regulations.Upon completion of the installations scheduled for Q2 and Q3 2019, the vessels will commence index linked period employment with three leading dry-bulk charterers ranging in durations between three and five years.Stamatis Tsantanis…

Pic: ABS

The 2020 Global Sulphur Cap: ABS Aid for Greek Shippers

Leading Greek shipping industry stakeholders joined ABS, a global provider of classification and technical advisory services to the marine and offshore industries, for a workshop on drafting 2020 sulfur limit Ship Implementation Plans (SIP).Intended to help shipping companies and crew ready their vessels for compliance with the required sulfur content limit of 0.50% by 1 January 2020, the ABS workshop identified risks associated with design and operations of vessels in relation to the IMO regulation, including a HAZID study.

Richard Greiner, Moore Stephens partner, Shipping and Transport

Moore Stephens: Ship Operating Costs to Rise in 2018, 2019

International accountant and shipping consultant Moore Stephens says total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.Responses to the firm’s latest annual Future Operating Costs Survey revealed that drydocking is the cost category likely to increase most significantly in both 2018 and 2019, accompanied in the latter case by repairs and maintenance. The cost of drydocking is expected to increase by 2.1% in 2018 and by 2.3% in 2019…

© Alexey Lesik / Adobe Stock

Scrubber-fitted Dry Bulk Vessels to Command Premiums -MSI

A two-tier market will reward early adopters with higher timecharter rates and asset values as cost of low sulphur fuel increases dramatically, says research and consultancy firm Maritime Strategies International (MSI).According to MSI, scrubber-fitted dry bulk vessels could be earning a significant premium over those burning more expensive low sulphur fuel and higher asset values will reward those owners that fitted the technology early.In an article ‘Scrubbing Up: the impact…

© Igor Groshev / Adobe Stock

Sinopec to Supply Low Sulphur Bunker Fuel Starting 2019

China's Sinopec will start supply lower sulphur bunker fuel meeting IMO 2020 standard in 2019, Liu Zurong, General Manager of Sinopec Fuel Oil Company said on Thursday.All of Sinopec's supplies will meet IMO 2020 standard by Jan. 1, 2020, Liu said at an oil conference in Zhoushan, near Shanghai.Sinopec is aiming to sell lower fuel bunker fuel to Singapore and some "One Belt One Road" countries by 2020, Liu said.(Reporting by Meng Meng and Aizhu Chen; editing by David Evans)

Pic: Fluxys

Novatek, Fluxys to Build German LNG Terminal

Russian gas producer Novatek and Belgium's Fluxys joint venture Rostock LNG GmbH has signed a Land Lease Agreement with the Port of Rostock with a view to building and operating a mid-scale liquefied natural gas (LNG) storage terminal in the port.The envisaged facility is to unlock LNG as a low emission alternative for heavy fuel oil, diesel and LPG in North and Central Europe and the Baltic Sea area.The joint venture (Novatek 49% - Fluxys 51%) intends to build and operate a terminal for receiving and unloading mid-scale LNG carriers…

© Sergey Evsyukov / Adobe Stock

Ship Owners Are Scrambling to Install Scrubbers

Ship owners accelerated installations of engine emissions cleaning systems this year ahead of stringent new rules in 2020 which sharply reduce the amount of sulphur ships can emit from the 3.5 percent in current bunker fuel to 0.5 percent, according to a report.Vessel operators can either switch to cleaner, but more expensive, marine gasoil or install scrubbers to filter sulphur from dirtier fuel oil.The looming change in International Maritime Organization (IMO) rules has impacted…

(File photo: Maersk Line)

Maersk Leases Singapore Oil Storage Ahead of IMO 2020

Maersk Oil Trading has leased oil storage space in Singapore, signalling a push by one of the world's biggest ship fuel buyers into the Asian bunkering hub ahead of changes to global fuel standards from 2020, trade sources said.Maersk Oil has taken storage at the Tankstore oil terminal in Singapore, a spokesman for parent A.P. Moller-Maersk told Reuters, without giving further details.The firm has leased 120,000 cubic meters of space for fuel oil for six months, said three trade sources with direct knowledge of the matter.