Connect with us

Bunker Fuel

Arabian Gulf tensions signal ‘structural shift’ in global marine fuel landscape, says IBIA Chair

‘For the bunker value chain, this means not only immediate disruption, but also longer-term changes in how supply and demand are structured,’ says Adrian Tolson.

Admin

Published

on

Arabian Gulf tensions signal ‘structural shift’ in global marine fuel landscape, says IBIA Chair

 International Bunker Industry Association (IBIA) Chair Adrian Tolson, who recently assumed the role, on Wednesday (15 April) published a statement on a structural transformation in the global marine fuel market in the midst of the Arabian Gulf crisis: 

It is hard to conceive of a more challenging time in the marine fuel industry to take on the role of Chair of IBIA. That said, the past two decades have brought their share of geopolitical shocks, each with far-reaching impacts on shipping, energy markets, and the bunker supply chain. In truth, the last three Chairs would each have a strong case for having faced equally testing circumstances.

What sets the current situation in the Arabian Gulf apart, however, is the sense that it represents something more structural. The potential for prolonged disruption, coupled with the vulnerability of the Straits of Hormuz, points to a shift in the landscape. More than any recent event, this conflict has exposed weaknesses within the global energy structure and, more specifically, within our own supply chain.

Even if the situation were resolved quickly, the implications will not disappear. Concerns around energy security will persist, and there is likely to be an increased focus on diversification, including alternative fuels. For the bunker value chain, this means not only immediate disruption, but also longer-term changes in how supply and demand are structured.

In the present moment, the industry is once again demonstrating its resilience. For those operating closest to the conflict, these are deeply concerning times, first and foremost from a safety perspective, but also in terms of potential damage to assets and the financial risks associated with prolonged instability.

At a global level, however, bunkering activity has continued largely as it does in times of crisis, with calm operational professionalism and limited disruption. Supply locations outside the immediate area, particularly across Asia, have remained steady despite early panic. In the early stages of the conflict, uncertainty drove sharp price increases and short- term availability constraints. As the situation has evolved, alternative cargo flows have emerged, helping to ensure that key bunkering hubs remain supplied.

That is not to suggest that conditions have normalised. Prices are high and remain volatile. Crude and refined product markets continue to move unpredictably, and bunker pricing reflects this reality. Suppliers have had to manage exceptional levels of price risk, while buyers are understandably questioning some of the pricing and margins seen during the initial stages of the disruption. In some cases, those increases are difficult to justify. From an industry perspective, it is important that all parties recognise the pressures faced across the value chain. At the same time, there must be an awareness that the relationships underpinning this market are long term. Maintaining trust and balance will be critical, particularly as geopolitical tensions begin to ease.

In my first days as Chair, I have been encouraged by the response from IBIA’s members. This is a dynamic and complex market, and while there will always be areas of friction, the industry has shown a strong capacity to adapt under pressure.

As short-term volatility begins to settle, it is becoming clear that many of the changes we are seeing are not temporary. The bunker value chain today is already different from what it was just a few months ago. This moment represents not only disruption, but a transition.

IBIA and its members are well positioned to navigate this evolving environment. The industry will adapt, as it always does, and IBIA will continue to support that process with a focus on collaboration, stability, and practical insight.

Related: Adrian Tolson to take helm of IBIA, replacing Constantinos Capetanakis as Chair

 

Photo credit: International Bunker Industry Association
Published: 16 April, 2026

Continue Reading

Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

Admin

Published

on

By

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

Continue Reading

Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Admin

Published

on

By

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

Continue Reading

Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

Admin

Published

on

By

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

Continue Reading
Advertisement

OUR INDUSTRY PARTNERS



Trending