Beijing allocates extra 1 mn mt bunker fuel export quota to Sinopec, PetroChina, CNOOC

China’s Ministry of Commerce this week allocated an additional 1 million mt of quotas to Sinopec, PetroChina and CNOOC to export their domestically produced bunker fuel oil for bonded bunkering at China’s ports in 2021, sources with knowledge of the matter said. Meanwhile, the ministry has also approved Sinochem to transfer 230,000 mt of its

Elenger’s optimus LNG bunker vessel up and running

Elenger’s 6,000 cbm-capacity LNG bunker vessel, Optimus, has conducted its first refuelling operation – bunkering Tallink’s shuttle ferry, Megastar. As previously reported, Elenger took delivery of the vessel, which was built at Damen Shipyards Yichang, last month. The LNG bunker operation also represented the first refuelling of its kind in Estonia. ‘Ship-to-ship bunkering of LNG

Europe, Africa Bunker Fuel Availability Outlook

Bunker fuel oils are tight for prompt dates with several suppliers in Rotterdam, while ships face bunkering delays from weather suspensions in Malta and Algoa Bay. Longer lead times should be considered for HSFO380 stems in Rotterdam after supply tightened last week. Prompt product is more difficult to source, especially for larger quantities. Backwardation in

Bunker deliveries resume at UAE Fujairah port

Cargo loading and bunker delivery operations have restarted in the UAE port of Fujairah, the Middle East’s main storage and bunkering center. They have suspended on 2 October ahead of tropical storm Shaheen. “Some barges resumed deliveries of bunker fuel to vessels earlier in the afternoon,” a bunker supplier said. “It was initially done on

August bunker sales rise 2.5% on month, miss estimates

Bunker sales in August at the UAE’s Port of Fujairah, the world’s third largest bunkering hub, rose 2.5% on the month to over 700,000 cu m for the first time in 2021, according to Sept. 15 data from the Fujairah Oil Industry Zone provided exclusively to S&P Global Platts. But the sales still missed estimates,

Russian H1 2021 bunker sales drop 20%

Russian marine fuel sales declined by 20 per cent to about 2.4mn t in the first half of the year, from 3.1mn t during the same period last year, but demand was mixed at the different coasts. Overall Russian demand fell amid strong price competition from other international ports, tighter product availabilities and adverse weather

Bunker Fuel Market Predicted To Grow Robust at CAGR of 3.1% by 2027

Global bunker fuel market size was valued at $120.1 billion in 2019, and is projected to reach $130.1 billion by 2027, growing at a CAGR of 3.1% from 2020 to 2027. Bunker fuel is a type of fuel oil that is used abroad vessels. It is poured into ship’s bunkers to power its engines. Bunker

Is shipping heading in the right direction?

Climate change is high on the agenda for most countries as they look to reduce greenhouse gas emissions significantly over the coming years. The shipping industry is currently one of the biggest polluters but it is responding to the need for lower carbon emissions and, ultimately, green fleets. We speak to experts leading the quest

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