Backwardation in the Asian 180cst and 380cst HSFO markets has widened to multi-month highs, driven by higher power generation and bunker fuel demand.
HSFO380 availability has improved to shorten lead times in Singapore, and plentiful supply has kept South Korean VLSFO prices at regional discounts this week.
Insurers saw a number of machinery damage claims related to scrubbers, which remove sulphur oxides from exhaust gases for vessels using heavy marine fuel.
IMO MEPC meeting in June 2021 has granted IMCA authority collect bunker fuel consumption data from certain IMCA members’ offshore vessels.
Industry association has studied the European Commission’s “Fit for 55” package and highlights a number of potential consequences and concerns.
Total bunker sales at Panama was 358,827 metric tonnes (mt) in June, compared to sales of 302,330 mt during the similar period in 2020, show PMA...
Demand for spot bunker fuel in Singapore strengthened this week over Opec+ group's indecision about output levels that lowered crude prices overnight.
Slowdown in port efficiency due to stricter Covid-19 quarantine requirements and safety checks has weighed in on bunker fuel demand at local ports since May.
A handful of marine fuel treatment manufacturers have recently claimed their products can help improve vessel efficiencies; but all is not as it seems.
Bunker fuel availability has improved in Chinese river ports, while longer lead times are recommended for VLSFO stems in Singapore this week.
