Â© 2004 - 2020 openPR. All rights reserved. The European Union may seek to end the tax exemption for bunker fuels, according to a new strategy paper on sustainable transport policy. Marine gas oils are used, Bunker Fuel Oil Market Report for Period 2018 till 2024 World Fuel Services, Bun â¦, Global Bunker Fuel Oil market report emphasizes on detailed analysis of companies and manufacturers like Bright Oil, Sinopec, Gazpromneft, GAC, China Changjiang Bunker (Sinopec), Southern Pec, Lukoil-Bunker, China Marine Bunker, Shell, Exxon Mobil, BP, World Fuel Services, Bunker Holding, Total Marine Fuel, Chemoil and Others. On the basis of historic growth analysis and current scenario of 3D Concrete Printing market place, the report intends to offer actionable insights on global market growth projections. Bunker Fuel â Not a Virus 16/03/2020 Industry News Close physical contact between ship and shore personnel during bunkering on internationally-trading vessels means there is a risk of spreading the Coronavirus. On the other hand, demand for low sulfur bunker fuel in Singapore is expected to remain stable. Ship & Bunker - News, Exclusive Features, Bunker Price Indications - The World's Most Read Publication for the Marine Fuels Industry S&B MARKET SURVEY: 'Soaring Demand' Across SE Asia, But Global Q3 Bunker Hub The two major bunker fuel classifications in the marine industry are distillates and residual fuel oils. Subscribe to Maritime Reporter Email News. 30. The 340-meter-long very large ore carrier (VLOC) Stellar Banner has been scuttled off the coast of Brazil after being declared a total loss due to extensive hull damage suffered during a grounding incident.The 300,660 dwt vessel, owned and operated by the South Korean company Polaris Shipping, ran aground while carrying iron ore bound for China from Vale's terminal in Maranhão in February. The Maritime and Port Authority of Singapore (MPA) has awarded two new bunker supplier licences to Minerva Bunkering and TFG Marine, following â¦ Published: 11 November 2020 Dan-Bunkering, the groupâs parent company Bunker Holding and a company director have been charged by Denmarkâs Public Prosecutor for Special Economic and International Crime (SØIK) over selling jet fuel to Russian companies, which in â¦ Pricing for MGO, a bunker fuel with up to 0.1% sulfur content, averaged $398/mt in November, up $22, or 5.9%, from October. This number could increase to 1,000 vessels globally by 2030, said Mohd Rafe Mohamed Ramli, head of global LNG bunkering at Petronas Marine.The shipping industry has been under pressure to reduce carbon emissions…, Global demand for marine fuels is expected to fall by up to 17% due to the impact of the coronavirus pandemic on world trade, setting the stage for more consolidation among bunker suppliers, an industry executive told a conference on Wednesday.Banks scaled back on their commodities trade finance after the coronavirus crisis led to defaults by some trading houses and exposed a series of frauds, leaving small and medium-sized firms most exposed.Unni Einemo, director of the International Bunker Industry Association (IBIA), said firms were contending with low demand, low margins, ample supplies, i, The Sri Lankan navy said on Tuesday an oil slick had been spotted a kilometer from a loaded supertanker carrying roughly 2 million barrels of oil that has been engulfed in intermittent fires since an explosion on September 3.Oil from the engine room of the 20-year old New Diamond tanker “appears to have leaked out to the sea” following regular bouts of water-dousing by fire-fighting vessels, the navy spokesman said.The oil slick has raised concerns about the potential of further leakage from the cargo holds…, The ongoing oil pollution incident from the grounded 203,000 DWT bulk carrier MV Wakashio is threatening an ecological catastrophe around the Indian Ocean island of Mauritius, endangering corals, fish and other marine life already under threat from climate change (IPCC 2018).In addition, it risks bringing devastating consequences for the economy, food security, health and tourism industry. Improved efficiency of port operations can cut a vessel's fuel bill by 8-9%, according to research from the Port of Rotterdam. It is a phenomenal compilation of important studies that explore the competitive landscape, segmentation, geographical expansion, and revenue, production, and consumption growth of the global Still Drinks market. Singapore's only independent marine fuels publication focusing on coverage of compelling news about the world's largest bunkering port and beyond. According to our Bunker clause, we will adjust our Bunker Fuel Surcharge from the present -17,6 % (effective in November) to -16,7 % with effect from 1 December 2020. To try and mitigate this risk, the International Bunker Industry Association (IBIA) has offered some practical advice. The 7,500m3 LBV was built at Keppel Nantong Shipyard in China and is equipped with engines that can run on both diesel and LNG. NOV 19, 2020 - DUBLIN--(BUSINESS WIRE)--Nov 19, 2020--The "North America Bunker Fuel Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.The bunker fuel market in North America is expected to grow at a CAGR of more than 14% during the forecast period of 2020-2025The increasing natural gas â¦ Bunker Fuel Market (2020-2026) | What Recent Study Say About Top Companies | Agrana Group, Archer Daniels Midland Company, Bunge Ltd., Cargill Incorporated Overview for âBunker Fuel â¦ ICS FUEL 2020 webinar: ISO 8217:2017 marine fuel quality standard The Surcharge is based on the reference bunker price during the 28 days observation period prior to this notice (20.10.2020â16.11.2020). This market study includes data about global market statistics, market share, company performances, historical analysis 2012 to 2016, market forecast 2017 to 2023 in terms. Singapore has suspended the licenses to sell ship fuel held by a subsidiary of defunct oil trader Hin Leong Trading Pte Ltd since it could no longer meet the licensing requirements, the Maritime and Port Authority of Singapore (MPA) said on Monday.The MPA suspended the licenses for Hin Leong's subsidiary Ocean Bunkering Services Pte Ltd (OBS), an agency spokesperson said in an emailed response to questions from Reuters sent on Oct. 12.MPA typically issues licenses to supply bunker…, Sales of marine fuel from the Chinese port of Zhoushan, the country's top supplier of shipping fuel, in the first nine months of 2020 rose nearly 18% from a year earlier, a local government official said on Wednesday.Zhoushan supplied 3.26 million tonnes of bonded marine fuel from January to September, the official said, declining to be identified since he is not a spokesman.China aims to build Zhoushan, an archipelago city in east China's Zhejiang province, into a regional ship fuel hub to rival Singapore as the world's largest shipping, or bunker, fuel center.But marine fuel demand took a hi, Keppel Offshore & Marine has delivered its first liquefied natural gas (LNG) carrier, Avenir Advantage, to Avenir LNG. Players, Pectin Market Up-To-Date Analyses of Industry Trends, Technological Improvements â¦, Coherent Market Insights has recently added a research report titled, âGlobal Pectin Market Report, History and Forecast 2015-2026, Breakdown Data by Companies, Key Regions, Types and Applicationâ. The 2016-built Stellar Banner began listing heavily but did not capsize, and all 20 crew members were evacuated from the ship.The ship had been refloated and towed to deeper water after 145…, China's low-sulphur marine fuel exports rose by a third in April compared with March to the highest level yet after it waived export taxes for domestic refiners to meet shipping demand, Chinese customs data showed.Chinese refiners began exporting in January very low sulphur fuel oi (VLSFO) with a maximum sulphur content of 0.5% to comply with emission rules for ships from the International Maritime Organization.Data from China's General Administration of Customs showed April exports of the ship fuel reached nearly 1.43 million tonnes…, A 340-meter-long very large ore carrier (VLOC) that ran aground off the coast of Brazil earlier this year will be scuttled due to the extent of hull damage suffered as a result of the incident, Brazilian authorities said.The 300,660 dwt Stellar Banner, owned and operated by the South Korean company Polaris Shipping, ran aground while carrying iron ore bound for China from Vale's terminal in Maranhão in February. Tourism in Mauritius - a popular destination for its pristine beaches - reportedly contributed about $1.6 billion to its economy during the last year…. DEC 4, 2020 - DUBLIN--(BUSINESS WIRE)--Dec 4, 2020--The "Europe Bunker Fuel Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.The bunker fuel market in Europe is expected to grow at CAGR of more than 10% during the forecast period of 2020-2025The increasing preference of LNG-based â¦ LNG has established itself as a viable alternative to oil-derived bunker fuel with northwest Europe as the most well developed market. Marine distillates are divided into marine gas oil (MGO) and marine diesel oil (MDO). Insights drawn from data serve, Covid 19 Analysis Analysis : Still Drinks MARKET RISING ADOPTION FROM SMALL, MED â¦, Coherent Market Insights has recently added a research report titled, âGlobal Still Drinks Market Report, History and Forecast 2015-2026, Breakdown Data by Companies, Key Regions, Types and Applicationâ. Seven months after the United Nations' shipping agency brought in hotly anticipated new rules to curb emissions, the raft of technical issues and leap in fuel prices that were expected to result have failed to materialize, ING Bank said on Tuesday.Global shipping and oil firms had flagged major concerns over potential disruptions from International Maritime Organization (IMO) rules implemented at the start of 2020, which capped marine fuels' sulphur content at 0.5% against 3.5% previously.However, shipping and marine fuel suppliers say expected technical issues, such as damage to engines from, Global supply of fuel oil, used by ships and power plants, is expected to grow in the third quarter, depressing the marine fuel market as shipping demand remains weak, analysts and trade sources said.Third-quarter supply is estimated to rise by 620,000 barrels per day (bpd) from the second quarter as China and Brazil increase production, according to consultancy Energy Aspects.This comes as inventories across key marine refueling hubs recently reached all-time highs, depressing bunker fuel prices and refiners' margins and dashing hopes for a profitable year for sellers of low sulfur fuel that, The new chief executive of Trafigura's marine fuels joint venture TFG Marine will leave the business at the end of September, the company said on Monday without disclosing the reason for his departure.Anders Gronborg was appointed CEO in April after ending a 27-year career at World Fuel Services in 2018.The company and Gronborg have agreed to part in a "mutually agreed exit", a company spokeswoman said in an emailed statement, adding that his last day will be Sept. "The Board…. Keppel O&M’s technology arm…. In March, the average value â¦ Singapore's jet fuel crack at 9-month high on hopes of aviation recovery The Singapore front month jet fuel/kerosene derivative crack spread against Dubai crude swaps -- a measure of the product's relative strength to crude -- reached a nine-month high at the Asian close on Dec. 18 due to renewed hopes that the aviation sector was due to see a steady, albeit slow, recovery, industry â¦ The "South America Bunker Fuel Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering. Authenticated data presented in report is based on findings of extensive primary and secondary research. Hyundai Samho Heavy Industries has delivered the world's first very large containership powered by liquefied natural gas (LNG) to Singapore's Eastern Pacific Shipping (EPS), the South Korean shipbuilder announced Wednesday.The LNG-powered, 14,800 twenty-foot equivalent unit (TEU) capacity CMA CGM Tenere is one of six containerships in a series being built for EPS by Hyundai Samho, a unit of shipbuilding giant Korea Shipbuilding & Offshore Engineering Co. Players can use, Bunker Oil Market Growth to 2022 Investment Analysis, Market Overview and Future â¦, Bunker fuel is the fuel oil/gas delivered to ships of all states that are engaged in international navigation. The 2016-built ship began listing heavily but did not capsize, and…, Chinese refiners have the capacity to produce 18.1 million tonnes of low-sulphur fuel oil (LSFO) this year, which would make the country self-sufficient in the new shipping fuel, an official with state major PetroChina said on Monday.China has been striving to reduce its reliance on bunker fuel imports and is aiming to create its own marine fuel hub to supply northern Asia.About 20 refineries, mostly under state-run Sinopec Corp, PetroChina, CNOOC and Sinochem, installed equipment to produce 0.5% sulfur fuel that meets International Maritime Organization (IMO) rules that came into force at the, Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week. On the basis of historic growth analysis and current scenario of Renewable/Bio Jet Fuel market place, the report intends to offer actionable insights on global market growth projections. The vessel also functions as an LNG bunkering vessel (LBV), making it the first in South East Asia to do so, Keppel said.Avenir Advantage is the first of two such vessels that Keppel O&M is building for Avenir LNG. Refiners have to contain with low demand for fuels, overflowing storages, and disruptions to ongoing expansion works. This report has been prepared by experienced and knowledgeable market analysts and researchers. Maritime news provider Tradewinds has reported that the order will include a new tank fuelling system. The six neo-Panamax box…, The number of ships fueled by liquefied natural gas (LNG) is expected to more than double by 2030, driven by the shipping industry's desire to cut emissions, a senior executive at Malaysia's Petroliam Nasional Bhd (Petronas) said on Wednesday.Currently, less than 400 out of a total of more than 80,000 registered ships, run on LNG as fuel source. The international navigation may take place via sea, on inland lakes & waterways, and in coastal waters. Transits through the Suez Canal, the beating heart of the Egyptian economy, have stayed remarkably resilient to the fallout of the COVID-19 pandemic if judging by total transits of the three commercial shipping sectors which are up 8% year-on-year. Bunker Fuel Market (2020) Report provides an in-depth summary of Bunker Fuel Market Status as well as Product Specification, Technology Development, and â¦ https://www.coherentmarketinsights.com/insight/buy-now/4049, https://www.coherentmarketinsights.com/insight/request-discount/4049, Ursula Koslik, Director Marketing & PR, F+W Hamburg, Advertising, Media Consulting, Marketing Research, Business, Economy, Finances, Banking & Insurance, Pressemitteilung kostenlos verÃ¶ffentlichen. Naturally, commodity prices have also dropped. The current upheaval has collapsed marine gas oil low-sulphur (MGO LS) prices at the fastest pace in recent memory, even exceeding the demise of the Great Financial Crisis and oil crash in 2014. Asian refiners' profit from producing very low sulphur fuel oil (VLSFO) climbed to six-month highs this week as output cuts keep supplies tight while demand for the shipping fuel at most ports are back at pre-pandemic levels, traders and analysts said.The trend is likely to stay for the rest of the year, encouraging Asian refiners to prioritize VLSFO production along with petrochemical feedstock naphtha, where demand has also firmed.The front-month VLSFO crack was at $9.43 per barrel above Dubai crude on Tuesday, its highest since April 10. Renewable/Bio Jet Fuel MARKET FUTURE SCENARIO, KEY INDICATORS, GROWTH RATE, INDU â¦, A recent market research report added to repository of Coherent Market Insights is an in-depth analysis of âGlobal Renewable/Bio Jet Fuel Marketâ. Very-low sulfur fuel oil did not witness demand as a bunker fuel till 2019. Containerships with a collective cargo carrying capacity of 5.3 million 20-foot equivalent units (TEU) are now fitted with an exhaust gas cleaning system (scrubber) to remove sulphur oxides (SOx) from the exhaust gasses generated by the combustion processes in marine engines and thereby comply with the IMO 2020 global sulphur regulation which came into force on January 1, 2020.By the start of July, the share of the containership fleet with scrubbers installed exceeded that of the crude oil tanker fleet. October 13, 2020. While sales of 380 CST marine fuel oil bunkers stood at 995,000 mt in November, 10,000 mt less than the highest volumes so far in 2020 in October, high sulfur bunker suppliers pointed to the advantages Singapore offers shipowners as a bunkering hub for the grade. However, the deadline for IMO 2020 led to an increase in the market for VLSFO. © 1996-2020 Maritime Activity Reports, Inc. 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