High-Sulphur Fuel Oil sales rebound after pre-IMO 2020 correction

HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before the IMO 2020 Sulphur Cap came into force. The 1 million tonne increase in HSFO sales exceeded the fall in low-sulphur fuel oil (LSFO) and marine gas oil

China’s Zhoushan VLSFO prices lag crude gains

Bunker fuel prices for very low-sulphur fuel oil (VLSFO) at China’s largest bunker port of Zhoushan have lagged crude gains so far in 2021 because of rising domestic refinery supplies, which is increasing competition for market share as supply outpaces demand. Zhoushan’s VLSFO bunker prices rose by 19% during 4 January to 18 February to

CII seeks nod for use of very low sulphur fuel in industries

With the government directing industries to discontinue the use of furnace oil and petcoke, the Confederation of Indian Industry (CII) has requested the department of environment to permit the use of very low sulphur furnace oil (VLSFO). CII–Goa state council met with environment minister Nilesh Cabral and submitted a memorandum asking for VLSFO to be

Stricter checks hit bunker fuel demand at Chinese ports

A slowdown in port efficiency in China because of stricter Covid-19 quarantine requirements and safety checks has weighed on bunker fuel demand at Chinese ports since May. Spot demand for very low-sulphur fuel oil (VLSFO) captured by Argus at China’s largest bunkering port of Zhoushan in east China has fallen to about 2,600 t/d as

Hyundai Motor Signs MOU to Commercialize Hydrogen Fuel Cell Propulsion Systems

Hyundai Motor Signs MOU to Commercialize Hydrogen Fuel Cell Propulsion Systems for Marine Vessels Hyundai Motor Company announced that it has signed a Memorandum of Understanding (MOU) with Hyundai Global Service, a South Korean manufacturer specializing in ship electric propulsion systems and a subsidiary of Hyundai Heavy Industries Group, and Korean Register (KR), South Korea’s

Future Fuels in the Maritime Sector – Building the Bridge to Hydrogen

International seaborne transportation is a primary driver of international trade and the global economy, with approximately 80 percent of global trade by volume carried by ships at sea. The shipping sector has experienced steady growth for decades, although carbon dioxide (CO2) is the primary greenhouse gas (GHG) emitted from marine shipping. In 2012, CO2 and

TotalEnergies boosts R&D on ammonia as a marine fuel

TotalEnergies, formerly known as Total, is further developing research into the viability of ammonia as an alternative marine fuel through its participation in a series of leading industry initiatives. In its latest joint effort, TotalEnergies entered into a memorandum of understanding (MoU) with 22 leading companies across diverse industries to initiate a joint study on

Chinese refiners shatter records in June

China’s refineries processed a record amount of crude oil last month, at 14.8 million bpd, up by 3.9% from May when run rates also broke records, Reuters reported, citing data from the national statistics bureau. The average daily run rates for the first half of the year were even higher, at 15.13 million barrels—up by

Reliance’s O2C, new energy biz may be valued over $100 bn: Report

Billionaire Mukesh Ambani-led Reliance Industries Ltd’s plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of USD 36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report. Reliance currently has three verticals — oil-to-chemical (O2C) business that houses

China’s June diesel exports rebound amid record refinery output

China’s June diesel exports rebounded from May and more than doubled from the same period last year, as refiners shipped out more surplus barrels amid record refinery production. Diesel shipments last month reached 2.36 million tonnes, versus 1.68 million tonnes in May and 1.04 million tonnes in June 2020, data from the General Administration of