Bunker Fuel

MSI: IMO midterm measures to add 80% premium to bunker costs by 2035

IMO’s penalties would be equivalent to an 82% premium on top of the fleet bunker costs by 2035 – almost USD 100 billion for the 30,000 ships included in Maritime Strategies International’s database.

Published

1 year ago

May 8, 2025

Admin

MSI: IMO midterm measures to add 80% premium to bunker costs by 2035

Maritime and energy research provider Maritime Strategies International (MSI) on Wednesday (7 May) said analysis performed by MSI using data from its new platform has given an early indication of the impact that the IMO’s recently agreed Net Zero Framework will have on the bunker market.

By extending the annual fuel consumption estimates calculated in SEASCAPE platform for 2024 through to 2035, and applying MSI’s forecasts for bunker prices, MSI projected the future fuel costs for all conventionally-fuelled ships included in the platform, which is just over 30,000 ships, alongside the projected IMO penalties.

“This provides some indication of the scale: by this approach, the IMO’s penalties would be equivalent to an 82% premium on top of the fleet bunker costs by 2035 – almost USD 100 billion for the ships included,” it said.

From another perspective, this also highlighted the opportunity for the shipping bunker market – an annual pot directed towards drop-in biofuels and low carbon alternatives that could rise to USD 100 billion per year within the next decade.

MSI SEASCAPE is designed to complement MSI products which offer a forward view of the market by providing a complete retrospective, 12-month view on the global fleet. Hourly data on vessel activity provides vessel speed, direction, emissions, fuel consumption, port time and anchorage durations.

MSI uses machine learning to identify changes in voyage patterns and ship clusters, developing an algorithm to measure vessel tracks, speed and port stays to generate emissions data where AIS satellite tracks were not available. Each month, MSI’s algorithm generates data for over two million ‘dark periods’ where AIS signals are absent.

Users can extract data by ship, by fleet or sections of the global fleet, filtering by vessel type, characteristics or IMO number. The product is being made available at flexible subscription levels allowing users to start with the data they require most and add additional sectors as their needs evolve.

“MSI has invested two years in SEASCAPE’s development, driven by demand from customers for improved modelling of fleet behaviour at a time when fleet inefficiencies and diversions are impacting earnings and values far in excess of historical norms,” said Will Fray, Director, MSI.

“The platform can also be used for due diligence prior to vessel acquisition/lending or charter, to track fleet or vessel behaviour and compare against cohorts and competitors.”

Photo credit: Maritime Strategies International
Published: 8 May, 2025

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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July 21, 2026

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026

LNG Bunkering

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s alternative fuel bunkering infrastructure.

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15 hours ago

July 21, 2026

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CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

China’s Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC SOE) recently signed a contract with Sinopec (Beijing) Clean Energy Co., Ltd. to build a 12,000-cubic metre (m3) LNG bunkering vessel, according to Chinese maritime media.

The vessel is scheduled for delivery in 2028 and will support Sinopec’s efforts to expand its presence in the marine clean energy sector.

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s LNG bunkering infrastructure.

With this signing , CIMC Pacific Offshore Engineering’s LNG bunkering vessel orderbook is further strengthened, maintaining its leading position in the global market for small and medium-sized LNG bunkering vessels.

The contract also marked another milestone for CIMC SOE, which has seen a sharp increase in orders and business performance this year amid a surge in domestic LNG vessel demand.

Photo credit: Nantong CIMC Sinopacific Offshore & Engineering
Published: 21 July, 2026

Nuclear

ABS awards AiP to Korean institute for SMR-powered container ship concept design

KRISO says AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

Published

15 hours ago

July 21, 2026

Admin

ABS awards AiP to Korean institute for SMR-powered container ship concept design

Korea Research Institute of Ships & Ocean Engineering (KRISO) on Thursday (16 July) received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its concept design of a 15,000 TEU Small Modular Reactor (SMR)-powered container ship utilising Molten Salt Reactor (MSR) technology.

KRISO said the AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

“This achievement demonstrates international recognition of KRISO’s technological capabilities in the rapidly evolving field of nuclear-powered shipping, supporting the transition toward low-carbon maritime transport,” it said.

Building on this milestone, KRISO will continue advancing basic and detailed ship design, paving the way for future demonstration and commercialisation of SMR-powered vessels.

Through continued R&D and international collaboration, KRISO remains committed to strengthening next-generation maritime technologies and contributing to the safe deployment of nuclear propulsion in the maritime industry.

Photo credit: Korea Research Institute of Ships & Ocean Engineering
Published: 21 July, 2026