Marine fuel sales in the world’s third largest bunkering hub Fujairah, the UAE, rose by 8.7pc on the year in 2021, according to Argus data.
Argus assesses bunker prices in Fujairah daily through deals received from suppliers, traders and buyers, and the volumes indicate a snapshot of general trends of the market, capturing up to 30pc of the market. Argus received 2,969 deals last year, including all main marine fuels traded in Fujairah, for an overall volume of 2.3mnt up from 2.12mn t in 2020.
Sales of 0.5pc marine fuel oil in the submitted deals increased by 4pc to 1.86mn t. A number of production and logistics issues in March and in December capped the growth. But sales of high-sulphur fuel oil (HSFO) were up by 25pc to 394,000t from 314,000t, as more buying interest emerged from new and retrofitted scrubber-equipped vessels. Scrubbers allow a vessel to burn fuel with a sulphur content of up to 3.5pc while remaining compliant with the International Maritime Organisation 2020 0.5pc sulphur cap.
Low-sulphur marine gasoil (LSMGO) volumes grew significantly to 46,000t from 26,000t, which traders linked to the sales of HSFO. Many buyers typically purchase smaller amounts of the product to use in emission control areas (ECA).
By Elshan Aliyev
Photo credit and source: Argus Media
Published: 14 January, 2022
Newly launched service is the bunker industry's first cloud service that centrally manages orders using blockchain technology and will be offered from June 2021.
Global Shippers Forum says charges ‘lack transparency’ and highlights ‘lack of negotiation’.
‘He’s a great match for our group, bringing a huge amount of experience gained from a long and reputable career in the shipping and marine fuels industry,’ said CEO.
LNG has been referred to variously as e-methane, eLNG, Synthetic Natural Gas, and others; among SEA-LNG members, naming of the product is not always consistent.
230 vessels, 1.44 million TEUs, 85 service loops, 200 ports shared between ‘K’ Line, Mitsui, NYK Shipping.
Demand for eco-friendly vessels powered by alternative bunker fuels such as methanol, ammonia and hydrogen will further expand in time, says HJSC spokesman.
Digitalisation makes it easier for shipowners to conform to growing external regulations such as new sulphur regulations and ‘no scrubber’ zones; operators can identify better bunkering options to reduce costs.
‘We’ll start the application [to MPA] before the end of 2022 and hopefully to receive approval within six months or sooner,’ L. Y. Hwang, Director / General Manager of Oval Asia Pacific Pte Ltd, tells Manifold Times.
Rob Ashton, Market Manager of Infineum, explains how Infineum B402 is a relatively easy way for a ship operator to positively influence a vessel’s CII rating while improving its bunker fuel consumption performance.
Eventual adoption of Digital Bunker Document Standard speeds up interoperability between stakeholders from both public and private sectors, learns Singapore bunkering publication Manifold Times.
ISO delegates represented seven countries and were in Singapore to attend a three-day meeting of ISO WG13 to develop two new ISO bunkering standards, learns Singapore bunkering publication Manifold Times.
Cai Zhi Zhong received a total of about USD 1.3m to USD 1.6m, of which he saved a portion and spent the rest, including on property, cars and watches, according to court documents obtained by Manifold Times.
