Fuel Oil News

MarineNews Editor Joseph Keefe weighs in with a look at the previous five years on the waterfront. It’s not what you think.You might be aware that I stepped away for a moment in late December 2019. The five years that followed, whizzed right by – well, all but that miserable part of being virtually locked in my house for six months during “the Pandemic.” Enough said. Now back in the Editor’s chair here at MarineNews magazine, it is apparent that while some things on the collective waterfront have changed…

Seventy-five years in business is no small feat, especially in an industry that is tougher than most: shipbuilding. Blount Boats is celebrating the impressive milestone this year.Established in 1949, the Warren, R.I. shipbuilder is led today by founder Luther H. Blount’s daughters: president and CFO Marcia Blount and executive vice president / human resources Julie Blount, who see their roles as more than a career. “It’s our vocation,” Julie said. “It’s in our blood!” the sisters said nearly simultaneously.An entrepreneur and inventor by nature, Luther H.

Marine fuel trading house KPI OceanConnect is looking to offer biofuel for bunkering at more ports, in view of higher demand as FuelEU regulations kick in next year, a senior executive said on the sidelines of SIBCON 2024 this week.The company is expanding its marine biofuel trade to 120 ports, up from about 70 ports previously, said Jesper Sorensen, global head of alternative fuels and carbon markets.The company has delivered more than 300 biofuel stems to over 80 clients to date, according to Sorensen."The most developed region is Europe where biofuels are available.

The IMO Marine Environment Protection Committee MEPC 82 met from 30 September to 4 October 2024 and discussed a range of environmental matters, including proposed mid-term measures for the reduction of greenhouse gas (GHG) emissions from ships, enhancing energy efficiency of shipping, tackling marine litter, ballast water management and underwater noise reduction.Tackling climate change - cutting GHG emissions from shipsThe Committee made progress on the development of mid-term…

Ongoing concerns around fuel quality continue to be a critical factor and significant expense for the maritime industry, according to the Lloyd’s Register (LR) Fuel Quality Report 2024.The report, produced by LR’s Fuel Oil Bunker Analysis and Advisory Service (FOBAS), reveals the overall state of fuel quality in 2024 remains much like that of the past few years, particularly since the transition to predominantly very low sulphur fuel oil (VLSFO) in 2020. Persistent issues such as cat-fines…

Singapore's largest bunker fuel supplier Equatorial Marine Fuel is expanding its tanker fleet, a company executive told Reuters this week, adding it will receive its first IMO type 2 chemical bunker tanker before the end of 2024 and three more in 2025.These four tankers will add to the company's existing fleet of 20 conventional bunker tankers, said Choong Sheen Mao, chief operating officer at Equatorial Marine Fuel.Choong said half of Equatorial's current fleet is currently delivering…

Speed will be of the essence as salvage crews attempt to stop fuel leaking from the sunken New Zealand naval ship off the coast of Samoa.The HMNZS Manawanui ran aground last weekend on a reef about one nautical mile off the south coast of Upolu, Samoa’s most populated island. The specialist dive and hydrographic vessel was on its third deployment, conducting a reef survey, when it caught fire and sank.The ship has come to rest at a depth of up to 150 metres, which means it may be relatively undisturbed even during storms.

New standards for bunkering methanol and ammonia will be developed by 2024 and 2025 respectively, the Maritime and Port Authority of Singapore (MPA) said on Wednesday.The world's largest vessel refueling hub is preparing for higher uptake of alternative bunker fuels, which shippers are considering using to help lower carbon emissions."The standards will cover custody transfer requirements, safety procedures and crew competencies, to ensure safe bunkering operations and handling of these fuels," MPA said in a statement issued during SIBCON 2024.There are currently no detailed standards or estab

On October 1, 2024, NYK began operation of a test engine facility in Chiba Prefecture to evaluate the safety of new fuels.The introduction of new marine fuels used to necessitate testing and analysis at external engine facilities, in addition to trial operations, all of which would require about two years to complete. Shortening this period and reducing the cost of testing have been key to meeting the increasing demand for new fuels, such as biofuels, and satisfying the environmental regulatory measures of various countries.

The IMO’s Marine Environment Protection Committee (MEPC) held its 82nd session from September 30 to October 4, 2024, with outcomes including the adoption of the Canadian Arctic and the Norwegian Sea as NOx, SOx and PM Emission Control Areas.The relevant MARPOL amendments will enter into force on March 1, 2026.DNV reports that for the Canadian Arctic:• The 0.10% fuel sulphur content requirement takes effect from March 1, 2027.• Tier III NOx requirements will apply to ships constructed (keel-laid) on or after 1 January 2025…

Spot premiums for 380-cst high-sulphur marine fuel at Singapore, the world's largest bunker hub, have surged due to the tight supply available for prompt deliveries, market sources said.The price strength for the fuel, which is used to power ships, has been keeping refuelling costs high for vessels calling at Singapore and other ports in the region.Delivery dates in the first half of October could command premiums of over $60 a metric ton to Singapore cargo quotes this week, the highest in 2024 so far for a delivered pricing basis…

Sustainability claims by MSC Cruises, including that it targets "net zero by 2050" do not meet standards, the Dutch advertising board found on Wednesday in one of the first decisions against a cruise operator following a greenwashing complaint.MSC, a privately held Swiss-Italian firm that is among the world's largest cruise operators, said in a reaction it welcomed some parts of the decision and had "already implemented most of the changes advised".Greenwashing entails a company giving a misleading impression of its environmental credentials.

The IMO’s Marine Environment Protection Committee (MEPC82) opened on Monday, and the Caribbean islands – Jamaican, Antigua and Barbuda, Belize, Barbados, Dominica, the Grenadines, Grenada, Trinidad & Tobago, St Kitts, St Lucia and St Vincent – are calling for participants to agree on a fuel levy as part of IMO’s mid-term measures for reducing GHG emissions.The states want a universal GHG levy on shipping emissions which ensures that all carbon emitters contribute proportionately.

At least four people have been reported dead following the sinking of an oil barge operated by a contractor of Venezuela's state-run energy company PDVSA at the country's Lake Maracaibo, according to a report of the accident on Thursday and sources.Another 19 people had been successfully rescued by Thursday morning at the accident site, the report added.Incidents involving barges that carry Venezuelan oil and fuel between domestic ports and to the Caribbean have become frequent.

At least two people died and four were declared missing following the sinking of an oil barge operated by a contractor of Venezuelan state-run energy company PDVSA at Lake Maracaibo, PDVSA said on Thursday.Sources and an internal report from the company had indicated four fatalities from the accident earlier on Thursday. But PDVSA said rescue work to find the four missing people has not finished."PDVSA reports the unfortunate sinking of barge Chantase G of company SOSCA, provider of oil well maintenance services…

Marine fuels supplier Peninsula has spun off its shipping operation into a separate entity named Hercules Tanker Management (HTM), a Peninsula press release said on Wednesday, seeking to expand in the tanker freight sector.Hercules will take over Peninsula's vessel assets and operate as an independent ship owner, trading its vessels in tanker freight markets as well as continuing to service privately owned Peninsula's cargo and supply operations."Now, with a proper structure, equity assets, and a head of shipping, Hercules can handle chartering for both Peninsula and the broader market.

The Arab Shipbuilding and Repair Yard Company (ASRY) has launched the first phase of the Bapco Refining Self-Propelled Fuel Oil Bunker Barges project with a keel-laying ceremony.The project, which is scheduled for execution in the final quarter of 2024, comes as part of a strategic alliance between ASRY and Bapco Refining and is a step towards positioning the Kingdom of Bahrain as a key maritime hub in the region.The project consists of the delivery of two self-propelled fuel…

Fuel oil exports bound for the U.S. Gulf Coast slumped to their lowest level since January 2019 last month, a sign of weakened refinery demand as margins have softened, analysts said.Feedstocks like high sulfur fuel oil and other heavy residues can be refined into higher value products such as gasoline and diesel using secondary units.But loadings of those products to the Gulf Coast, America's largest refining hub, fell by a third in August from the prior month to 260,000 barrels per day (bpd)…

German ocean carrier Hapag-Lloyd announced it has taken delivery of a new ultra-large container vessel from South Korean shipbuilder Hanwha Ocean.The 399-meter-long, 23,660 TEU Hamburg Express is the seventh newbuild in a series of 12 "Hamburg Express" class containerships—the largest to ever sail under the German flag. The series' first vessel, Berlin Express, was delivered in 2023, and the remaining ships will be delivered through the end of 2025.Each ship features MAN B&W11G95ME-C10.5-GI dual fuel main engines…

MAN Energy Solutions has announced a new generation of its Common Rail injection system for its medium-speed, four-stroke engine portfolio.Its core components comprise an optimised and uniform high-pressure pump and a newly developed injector, integrating the CR 1.6 valve group and making the entire system setup more coherent. It is initially being introduced via the MAN 49/60DF engine.MAN Energy Solutions reports that CR 2.2 can boast of up to 38% increased rail-pressure for all applications, and over 33% increased target time-between-overhaul intervals for most components.

TotalEnergies has supplied its first B100 biofuel bunker in Singapore, marking an expansion in its low-carbon fuels offer in an effort to support the decarbonization goals of global shipping.On August 5, TotalEnergies Marine Fuels used an IMO Type II chemical bunker tanker, MAPLE, owned by Global Energy Group, to transfer 700 metric tons (mt) of the 100% Used Cooking Oil Methyl Ester (UCOME-based) biofuel to a pure car and truck carrier (PCTC), Glovis Cosmos, which is owned by Hyundai Glovis.The UCOME biodiesel supplied is a second-generation…

The International Chamber of Shipping (ICS), working with the governments of Bahamas and Liberia, is proposing a “feebate” (rewards) mechanism to ensure delivery of the IMO’s target to achieve net zero GHG emissions from international shipping by or around 2050.At the heart of the proposal is a GHG Fee, charged to ships per tonne of CO2 equivalent (CO2e) emitted, combined with a “feebate” mechanism to incentivize the accelerated production and uptake of zero/near-zero GHG marine fuels…

Marine fuel sales at the United Arab Emirates' Fujairah recovered to a three-month high in July, latest data showed.Sales volumes at the world's third-largest bunkering port, excluding lubricants, totalled 621,679 cubic metres (about 616,000 metric tons), based on Fujairah Oil Industry Zone (FOIZ) data published by S&P Global Commodity Insights.The bunker sales inched 1.8% higher in July after sliding for three consecutive months, but were down 5.7% from the same month last year.Broader refuelling demand picked up at key bunker ports such as Singapore and Fujairah after crude and bunker prices