Finland-based marine technology firm Wartsila is set to commercially introduce its Two-Stroke Future Fuels Conversion platform in Q1 2022, as efforts for decarbonisation in the shipping industry gather pace. The firm has successfully conducted initial trials of the platform at its laboratory in Trieste, Italy. MSC Shipmanagement has served as a partner in the piloting
Japan is planning to give subsidies to the country’s refiners for the first time to offset the impact of surging oil prices on domestic oil product values. The government will provide funding to refiners when the country’s retail prices of products such as gasoline exceed a certain level, to avoid further increases, Japan’s trade and
GAC Group Bunker Fuels has signed a Memorandum of Understanding (MoU) with Dubai-based Neutral Fuels to market its marine gasoil biodiesel blend which has been developed for shipping clients in the United Arab Emirates (UAE), Bahrain, Oman, Qatar and India. Neutral Fuels said the companies will also work together to expand the number of supply
Gazpromeft-Lubricants Marine Department has signed the agreement on supplying oils for industrial equipment of the diamond mining company ALROSA, according to the company’s release. The department has already provided over 110,000 liters of lubricants for diesel engines operated on heavy fuels. “The area of marine oils application is not limited to marine machinery, since
The price gap between high and low sulphur fuel oil has widened to extremes not seen since around the introduction of the global sulphur cap in January 2020. While the difference in price between the two dominant fuels has averaged around $110 per ton in the first 22 months of the sulphur cap era, in
Geely, a Chinese manufacturer that owns brands such as Volvo and Lotus, among others, presented a concept truck that will be a direct rival to Tesla Semi. However, unlike Elon Musk’s truck, which is basically electric, the so-called “Homtruck” promises to be more versatile as it also uses a range extender and a version with
Marine fuel sales at Singapore port increased by 2.5% on year during October 2021, according to Maritime and Port Authority of Singapore (MPA) data. In total, 4.25 million metric tonnes (mt) (exact 4,254,700 mt) of various marine fuels were sold at the world’s largest bunkering port in October, an increase from 4.15 million mt (4,152,400
Shipowners switching to biomethanol as a marine fuel to curb CO2 emissions would face higher bunker bills at today’s prices, even after accounting for the added cost of CO2 life cycle emissions from very low-sulphur fuel oil (VLSFO). Marine fuels sale and consumption are not subject to greenhouse gas restrictions or fees, but the EU
World leaders agreed to phase-out “inefficient” subsidies for fossil fuels at the COP26 climate summit in Glasgow. Despite pledges to limit support, governments around the world spend more than $420bn (£313bn) each year subsidising the non-renewable energy, according to the UN Development Programme. How do fossil fuel subsidies work and which countries are spending the
Most Indian state-controlled refineries are operating at maximum capacity or higher, as transport fuel demand continues to increase with further gains expected in the coming months. MRPL was operating its 300,000 b/d refinery in Mangalore at more than 100pc and will continue to operate at these levels this month, while Bharat Petroleum (BPCL) was running