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Experts discuss state of global bunker fuel market at ‘Argus Bunker Fuel 2021

Greatest interest among alternative fuels is now in methane as its use in the market as LNG as a marine fuel is already well established, said IBIA Director.

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Global energy and commodity price reporting agency Argus Media on Saturday (20 February) said participants from 26 countries joined the broadcast of its international online conference Argus Bunker Fuel 2021: CIS and Global Markets on Friday, 19 February.

The conference was supported by the International Bunkering Association (IBIA) and was sponsored by Vortexa.

Representatives from IBIA, Gazpromneft Marine Bunker, Vortexa, Monjasa, VPS, as well as Argus experts from different countries spoke at the event which boasted participants from Russia, Kazakhstan, Great Britain, USA, Japan and so on.

The conference began with a presentation by Stefka Wechsler, editor of Argus Marine Fuels, on the global marine fuel market where she presented a detailed analysis of the bunker markets in Asia, America and Europe.

Wechsler noted Argus is monitoring the development of the bunker market, including low carbon fuels, by publishing prices for ammonia, liquified natural gas (LNG) and CO2.

An overview of the Russian bunker market was presented by Yana Sheremetyeva, Senior Correspondent of Argus Russian Fuel Oil.

Sheremetyeva said data shows sales of high-sulfur fuel oil continue, while consumption of low-sulfur fuel oil (VLSFO) has grown significantly in Russia. Sheremetyeva also noted sales of all types of fuel on the Russian market falling by 30% in 2020.

At the same time, prices for VLSFO dropped by half, to $ 365 / t. Most noticeably, VLSFO fell in price in late April – early May due to a lockdown in ports in the Asia-Pacific region (APR) and Europe.

Nigel Draffin, Member of the Board of Directors, Honorary Treasurer of IBIA presented a comparison between different types of marine fuels. According to Draffin, the greatest interest among alternative fuels is now in methane as its use in the market as LNG as a marine fuel is already well established.

Draffin noted serious research is also underway to use biodiesel for refueling ships in the inland waters of certain countries. However, biofuels are not yet used on long sea routes. According to Draffin, the use of LNG in the bunkering segment in the future will be limited to 10-15% of total demand.

The discussion was continued by Efim Suchkov, a representative of Gazpromneft Marine Bunker, who spoke about the use of LNG as an alternative fuel.

In particular, Suchkov noted in a little over two years the gas-fuel fleet has grown by almost 50%, and the number of LNG bunkering vessels has tripled. For the dynamic development of the LNG bunkering market in Russia, it is necessary to approve measures of state support, he added.

Arthur Reacher, Lead Freight Analyst, Vortexa, presented changes in the freight traffic landscape over 2020. He noted a significant decrease in supply from suppliers in the past year – with production volumes at refineries in the world being much lower than in previous years.

At the same time, trade flows to Asia have accounted for most of the demand for fuel in 2020. Reacher added there is also a decrease in reserves in the APR countries. With regards to the outstripping rates of economic development of Asian countries in comparison with other regions, Reacher noted the main fuel supplies will continue to flow there in the observable future.

Rauf Huseynov, Senior Editor at Argus, presented an overview of the bunker fuel market in the Caspian region. According to Huseynov, the gradual easing of restrictive measures will lead to an intensification of ship traffic and an increase in demand for marine fuel in the near future.

As the market recovers, competition between the Caspian ports will increase. If the sanctions against Iran are softened, it can be expected Iranian fuel will be available to the participants of the Caspian market in certain volumes.

Photo credit: Argus Media
Published: 22 February, 2021

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Mass Flowmeter

Hong Kong backs MFM adoption with voluntary scheme to boost bunkering competitiveness

Hong Kong’s Marine Department launched the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems on their bunker vessels.

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Hong Kong’s Marine Department (MD) on Wednesday (3 June) launched the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems (MFM systems) on their bunker vessels.

MD said the scheme aims to enhance Hong Kong’s bunkering service quality and the competitiveness of Hong Kong ports, thereby further consolidating Hong Kong’s position as an international maritime centre and a major bunkering port.

Under the Scheme, bunker operators of traditional maritime fuel and biodiesel that install and use MFM systems on their bunker vessels, with the MFM systems inspected and certified by an accredited body in accordance with the International Organization for Standardization’s ISO 22192 Standard or equivalent requirements, can apply to the MD for inclusion in the scheme’s “List of Quality Bunker Vessels”, provided they meet the relevant technical and operational requirements. 

Details of the bunker vessels successfully included in the List will be published on a dedicated page on the MD’s website for reference by shipping companies and relevant stakeholders.

Participation in the Scheme is voluntary. In addition to receiving recognition from the MD, participating bunker operators will benefit from enhanced corporate image and competitiveness through the adoption of MFM systems, thereby boosting customers’ confidence and helping to create new business opportunities.

 A spokesman for the MD, said: “As an international maritime centre supported by our country, Hong Kong has a strategic location adjacent to major international fairways. Coupled with years of development in marine fuel bunkering, Hong Kong possesses rich experience and talent in the field. For many years, Hong Kong has consistently ranked as the seventh-largest bunkering port globally, the second-largest in our country, and the largest in the Greater Bay Area, providing reliable and competitive fuel bunkering services to ocean-going vessels from around the world. 

“As the international shipping industry has an increasing demand for accuracy and transparency in bunkering services, service quality and measurement precision in bunkering operations have become important indicators of a bunkering port’s competitiveness. The Scheme will enhance bunkering accuracy and transparency, further enhancing the quality of Hong Kong’s bunkering services.

The spokesman added that comprehensive port services are one of Hong Kong’s key advantages as an international maritime centre.

“We will also mandate the use of MFM systems on all methanol bunker vessels this year to ensure that Hong Kong continues to provide high-quality bunkering services in the era of green maritime fuels.” 

Note: The application form for the Scheme can be found on the MD’s website. Interested bunker operators can download the application form from the website or contact the MD’s Green Maritime Fuel Team via email ([email protected]) for details.

 

Photo credit: Manifold Times
Published: 4 June, 2026

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Alternative Fuels

MPA and MSC ink MoU to support adoption of alternative bunker fuels

MPA and MSC will explore new routes and services to strengthen connectivity, support the adoption of alternative marine fuels such as bio-LNG, and advance technologies to improve vessel energy efficiency.

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MPA and MSC ink MoU to support adoption of alternative bunker fuels

The Maritime and Port Authority of Singapore (MPA) on Wednesday (3 June) said it signed a Memorandum of Understanding (MoU) with MSC Mediterranean Shipping Company to strengthen collaboration in maritime decarbonisation, digitalisation, innovation, and manpower development. 

The MoU was signed on 25 May 2026 by Mr Ang Wee Keong, Chief Executive of MPA, and Mr Soren Toft, Chief Executive Officer of MSC.

The MoU underscores the shared commitment of MPA and MSC to foster a sustainable, digital, and future-ready maritime sector, while enhancing MSC’s operational and business activities in Singapore. This year also marks the 30th anniversary of MSC establishing its Asia Regional Office and local office in Singapore.

Under the MoU, MPA and MSC will explore new routes and services to strengthen connectivity, support the adoption of alternative marine fuels such as bio-LNG, and advance technologies to improve vessel energy efficiency and operational performance.

MPA and MSC will also collaborate on maritime digitalisation initiatives to improve operational efficiency, including streamlining vessel arrivals and port operations. 

On manpower development, MSC will support internship and scholarship opportunities through Singapore Maritime Foundation’s Maritime Outreach Network (MaritimeONE) platform, an industry-led tripartite partnership comprising industry, government and institutes of higher learning that aims to raise awareness of the maritime industry and attract quality talent into the maritime sector.

Mr Ang Wee Keong, Chief Executive of MPA, said: “This partnership reflects the strong collaboration between MPA and MSC in driving sustainability and digitalisation in the maritime sector. By working together on decarbonisation, operational efficiency and talent development, we aim to strengthen Maritime Singapore’s position as a trusted and future-ready global maritime hub.”

Mr Soren Toft, Chief Executive Officer of MSC, said: “Singapore is a strategically important hub for MSC and a key gateway to the broader Asia region. As we mark 30 years in Singapore, this MOU reinforces our long-term commitment to strengthening our presence here. MSC and Singapore are closely aligned on the priorities shaping the future of global shipping, and we look forward to deepening this partnership to drive the continued growth and resilience of the maritime industry.”

 

Photo credit: Maritime and Port Authority of Singapore
Published: 4 June, 2026

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Emissions reporting

StormGeo and OceanScore link emissions data, compliance workflows

Cooperation combines StormGeo’s expertise in operational vessel and emissions data with OceanScore’s expertise in emissions compliance workflows across EU ETS, FuelEU Maritime and UK ETS requirements.

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StormGeo and OceanScore link emissions data, compliance workflows

Weather intelligence and decision support solutions provider StormGeo and Hamburg-based technology platform OceanScore on Wednesday (3 June) said they have deepened their ongoing cooperation through the signing of a collaboration agreement during Posidonia 2026 in Athens on 2 June.

The cooperation combines StormGeo’s expertise in operational vessel and emissions data with OceanScore’s expertise in emissions compliance workflows across EU ETS, FuelEU Maritime and upcoming UK ETS requirements.

Together, the companies aim to help shipping companies seamlessly navigate increasing regulatory complexity more efficiently — from emissions reporting and data validation to compliance exposure management, pooling and financial settlement.

As emissions regulation becomes an increasingly important part of commercial shipping operations, the need for reliable operational data and streamlined compliance processes continues to grow. The cooperation between StormGeo and OceanScore is designed to support shipping companies with more connected, transparent and actionable processes across operational and commercial teams.

“From the outside, companies like StormGeo and OceanScore may sometimes be perceived as competitors because both operate around emissions and compliance workflows,” said Albrecht Grell, Managing Director at OceanScore. 

“But in reality, the industry increasingly needs both perspectives working together: trusted operational emissions data on one side and commercial compliance execution on the other. Our cooperation reflects that shipping companies are no longer looking for isolated solutions — they need connected processes, automated across different systems and reliable decision-making throughout the full compliance chain.”

By connecting validated operational emissions data with commercial compliance management, the cooperation supports workflows across:

  • emissions reporting and validation 
  • compliance management across EU ETS, FuelEU Maritime and upcoming UK ETS requirements
  • exposure visibility and cost transparency
  • pooling, settlement and financial processes 

The cooperation also aims to improve commercial transparency and coordination across operational and commercial stakeholders.

“StormGeo plays a central role in helping shipping companies turn operational vessel and emissions data into trusted, decision-ready insights,” said Espen Martinsen, Chief Commercial Officer at StormGeo. 

“As emissions regulations become more complex, this data is essential for transparent and efficient compliance management. By working with OceanScore, we can help customers connect StormGeo’s validated operational data with commercial compliance processes, creating a more integrated and practical approach to emissions management.”

The signing ceremony took place at the StormGeo booth during Posidonia 2026 in Athens and was attended by representatives from both companies.

Both companies expect the cooperation to continue evolving alongside upcoming regulatory developments, including FuelEU Maritime, EU ETS, the upcoming UK ETS and future emissions-related frameworks affecting global shipping.

 

Photo credit: StormGeo
Published: 4 June, 2026

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