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Argus Media: Istanbul bunker prices supported by lower HSFO output

Due to combination of fall in crude prices and regional refiners reducing HSFO production, say sources.

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Global energy and commodity price reporting agency Argus Media on Tuesday (20 August) provided a marine fuels industry related update:

Bunker prices at the port of Istanbul have fallen by around 15pc in the past month, a far less acute decline than at some other locations in the east Mediterranean. Prices are largely being affected by regional refiners' approaches to the International Maritime Organisation (IMO) sulphur cap that comes into effect next year.

The price of high sulphur 380cst (HS380) at Istanbul fell from $438.75/t on 12 July to $374.50/t on 20 August. At the Greek port of Piraeus, the HS380 price fell from $430.50/t to $309.75/t, or 28pc, over this period, according to Argusdata.

The fall is mainly attributable to lower crude prices — timely for cruise ship owners purchasing bunker fuel on the spot market during the peak summer season. But several bunker suppliers and traders said prices at Istanbul have been cushioned by a reduction in regional HSFO production.

Turkey's Tupras, traditionally one of the largest HSFO suppliers in the Mediterranean region, has reduced its output in order to increase production of bitumen, a response to margin volatility ahead of the IMO 2020 change. Refiners in Israel, Greece and Italy are also likely to have lowered HSFO production, and regional suppliers have started to clean out tanks in preparation for IMO 2020.

Argus assessed Istanbul HS380 at a $70.75/t premium to Piraeus on 16 August — the highest on records going back to 2012, and compared with a premium of just 75¢/t on 11 July. For most of 2019, Istanbul's premium over Piraeus had been in a range of $0-20/t, and it averaged $11.87/t during the first half of the year.

HS380 was last heard traded in Istanbul at $370/t and 180cst traded at $420/t, according to one supplier.

Istanbul MGO prices rise on lower Russian export

Marine gasoil (MGO) prices in Istanbul moved sharply compared with those in Piraeus in recent weeks, as some bunker suppliers faced shortages because of lower imports from Russia. The premium for MGO at Istanbul over Piraeus reached a high of $94.50/t on 16 August, and fell back to $79.25/t on 20 August, according to Argus data.

Local refineries rarely supply MGO as Turkey is net short of diesel.

Turkish bunker suppliers said MGO imports from Russia could increase in September.

The higher prices for HSFO and MGO at Istanbul do not appear to have dampened demand. Activity picked up at the end of last week after public holidays for Eid al-Adha over August 11-15. In Greece, peak cruise season typically leads to higher bunkering demand; but an uptick in sales in August could be attributed to the disparity in prices between ports in the east Med.

"In the last two weeks I have seen higher sales than in the first week of August… mainly from container [ships]," a Greek supplier said.

Tighter HSFO supply boosts prices across the Med Basin

The effect of lower HSFO supply has rippled across the Mediterranean, and helped to increase the price of bunkers at local ports over locations in northwest Europe. Argus assessed the premium for Gibraltar HS380 over Rotterdam HS380 at $41/t today, after a recent high of $41.50/t on 15 August — the highest since $45/t on 14 January.

The premium for Gibraltar over Rotterdam was just $3/t on 12 March. The increase reflects relatively tighter HSFO supply by refiners in the Mediterranean region over their peers in the Amsterdam-Rotterdam-Antwerp (ARA) trading and refining hub.

Source: Argus Media
Published: 23 August, 2019

 

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Business

IBT Bunkering & Trading appoints Kevin Döhmen to lead Singapore expansion

Döhmen will lead the new Singapore office, with responsibility for managing and developing the operation and strengthening relationships with customers and partners.

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IBT Bunkering & Trading appoints Kevin Döhmen to lead Singapore expansion

Hamburg-based marine fuels firm IBT Bunkering & Trading on Wednesday (12 August) said it has appointed Kevin Döhmen as Executive Vice President to lead the company’s new Singapore office. 

Manifold Times previously reported the company announcing that it is opening its doors in Singapore and will be running a trading desk in the city-state after trading bunkers out of Hamburg since 1976.

The company said Kevin Döhmen will lead the new Singapore office, with theresponsibility for managing and developing the operation and strengthening relationships with customers and partners.

IBT said the Singapore office represents an important first step in strengthening its presence in Asia.

“At the same time, we are actively exploring further opportunities to expand our activities and establish new partnerships in this key maritime hub,” the company said. 

Döhmen said: “Singapore is the heartbeat of global bunkering. Bringing IBT’s Hamburg roots — 50 years of them — onto the ground in this hub is a real privilege, and I couldn’t be more ready for it.”

IBT said it will maintain the service approach established through its Hamburg operations while building its activities in Singapore.

The company described the move as bringing together its Hamburg roots and Singapore presence through a global bunker network. 

Related: German firm IBT Bunkering & Trading establishes Singapore presence, adds second trading desk

 

Photo credit: IBT Bunkering & Trading
Published: 13 August, 2026

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Bunker Alerts

Low flashpoint found in Indonesia bunker fuels, alerts Maritec-Naias

Firm tested eight bunker samples representing LSMDO and B40 fuel grade from vessels that took fuel oil /bunkered in Indonesia ports, which indicated flashpoints as low as 39.5°C.

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RESIZED Shaah Shahidh on Unsplash

Bunker fuel testing and marine surveying business Maritec-Naias on Wednesday (12 August) issued an alert regarding bunker samples from vessels that took fuel oil/bunkered in Indonesia showing flashpoints as low as 39.5°C:

During the period of 21 July to 04 August 2026, Maritec-Naias tested eight bunker samples representing Low Sulfur Marine Distillate Oil (LSMDO) and B40 fuel grade from vessels that took fuel oil /bunkered in Indonesia ports, which indicated Flashpoints as low as 39.5°C.

All eight fuel samples tested were sourced from a single supplier.

Regulatory Implications:

Based on the results of the eight samples tested, the fuels do not comply with the minimum flashpoint requirement of 60 °C set by SOLAS and ISO 8217.

As per SOLAS requirements, the minimum flashpoint of any fuel carried in the tanks of a ship should be not less than 60 °C (with exception of fuel for lifeboats, which can be grade DMX with a flash point min of 43 °C).

ISO 4259 interpretation for tested flashpoint temperature is not taken into consideration here as the safety of onboard crew and vessel is of higher precedence.

Since 01 May 2024, it has been a MARPOL Annex VI requirement that the Bunker Delivery Note (BDN) includes either the actual flashpoint of a fuel as supplied or a declaration that its flashpoint has been determined as being at or above 70°C.

From 1 January 2026, SOLAS amendments clarified that the flashpoint requirement applies to fuels, which were specifically intended to have a flashpoint not less than 60°C as required under SOLAS II‑2/2.1.1 These amendments now align with MARPOL by requiring flashpoint details to be recorded on the BDN. Additionally, prior to bunkering, suppliers must provide the ship’s representative with a signed declaration confirming that the fuel meets the SOLAS flashpoint standard.

MARITEC-NAIAS RECOMMENDATIONS

When ordering fuels from Indonesia it is advised to insist on getting the actual flash point values from the supplier. If your vessel has bunkered a low flashpoint fuel it is prudent to observe/implement the precautions below:

  • Flame screens on tank vents should be maintained in good condition and there should be no sources of ignition in the vicinity of the vents. This will assist in safe natural ventilation of volatile components in the fuel.
  • No Smoking, no naked flame and no hot work must be allowed at any areas near to tank air vents.
  • Send additional tank(s) samples upon arrival in port to check the fuel properties and flash point results especially if there has been co-mingling of fuels in bunker tanks
  • If the vessel is out at sea, it may be possible to obtain dispensation from your Flag State Administration up to the next arrival port.
  • Put the supplier on notice promptly and notify your P&I club.

 

Photo credit: Shaah Shahidh on Unsplash
Published: 13 August, 2026

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Methanol

China: Xiamen issues safety guidelines for methanol bunkering operations

New guidelines establish safety requirements across the full methanol bunkering process, supporting the expansion of green marine fuel supplies at Xiamen Port.

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Xiamen, China

Xiamen Free Trade Zone on Monday (10 August) said its Administrative Committee recently jointly issued the Safety Guidelines for Marine Methanol Fuel Bunkering in Xiamen Waters with Xiamen Port Authority and Xiamen Maritime Safety Administration, establishing a framework for methanol bunkering operations in the port.

The guidelines are the first safety operating standard in Fujian province specifically covering marine methanol fuel bunkering. They apply to methanol bunkering operations conducted by bunker vessels in Xiamen waters and set out safety requirements covering the entire operation, from preparation through completion.

The guidelines specify requirements for bunkering companies, equipment and materials used on bunker vessels, hose inspection intervals, personnel certification and personal protective equipment.

They also require operators to conduct dedicated risk assessments and prepare emergency response plans before operations begin. During bunkering, operators must maintain continuous monitoring and comply with specified weather restrictions. After completion, pipelines must undergo procedures including purging and inerting.

Xiamen Port has previously carried out ship-to-ship bunkering of biofuels and LNG. The new guidelines provide a regulatory framework and operational basis for methanol bunkering and are intended to support the safe and orderly conduct of such operations.

The move is also expected to help Xiamen Port expand its market and bunkering capacity for green marine fuels. 

 

Photo credit: Woo Winter on Unsplash
Published: 13 August, 2026

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