Full focus has been given to taking a proactive approach to expand the portfolio to include other commodities besides oil and oil-related products, it said.
Chinese oil importers seemingly capitalized on low oil prices, leading to record-high crude oil imports of 47.9m tonnes in May, a 19% month-on-month increase, said BIMCO.
OPEC+ adherence implies stronger prices and would signal Singapore VLSFO nearing the $400 range by late 2020 and moving towards $500 in late 2021, it said.
‘The renewal [...] been a success in difficult market conditions, underlying the strong vote of confidence coming from our banking partners,’ said CFO.
‘The expansion in revenue was attributable to more bunkering jobs being secured to provide LSFO as a result of the IMO 2020 sulphur cap effective 1...
Use of LNG as bunker fuel is the ‘best realistic fuel option right now’, says Martin Carlweitz, who works with operations in Liner Service at Wallenius...
‘Use of cold ironing is an important part of our environmental strategy. We use MGO with a low 0.1% sulphur content [...] going beyond the legal...
Power supplied will be locally produced hydropower via underwater cable, and ENOVA is contributing USD 2.78 million to the project that is estimated to cost USD...
Increased fines are not limited to oil or bunker spills and could also apply to other situations, for example where containers have been lost overboard.
A study by independent Norwegian research group SINTEF confirmed burning HSFO with a scrubber has a lower carbon footprint than using LSFO.
