Global energy and commodity price reporting agency Argus Media on Tuesday (7 May) provided a marine fuels market related update:
UK-Chinese joint venture Petroineos will start sales of 0.5pc sulphur marine fuel from its 210,000 b/d Lavera refinery, on the French Mediterranean coast, in the fourth quarter this year.
Under the new International Maritime Organisation's (IMO) cap that comes into force on 1 January 2020, vessels must limit sulphur emissions in exhaust fumes to 0.5pc, down from a current maximum of 3.5pc.
Shipowners will either have to burn new 0.5pc very low-sulphur fuel oil (VLSFO) blends, use marine gasoil (MGO) or run LNG to comply with the cap. They can also fit ships with exhaust scrubbers to continue to burn high-sulphur fuel oil.
Petroineos' IMO compliant marine fuel will meet the existing International Organization for Standardization (ISO) 8217 specifications, the firm said.
The supply of 0.5pc VLSFO will depend on market prices, it said. The company currently produces 1pc low-sulphur fuel oil (LSFO).
Other refiners in the Mediterranean have confirmed they will produce 0.5pc VLSFO, including Spanish integrated firms Cepsa and Repsol, as well as Italian refiner Saras.
Source: Argus Media
Published: 8 May, 2019
‘At present, there is still considerable uncertainty about fuel oil with a 0.50% sulphur content,’ says Captain Xu.
‘As a maritime nation, we cannot afford not to comply with the IMO standard’, says Director General.
Future compliance costs are based on future pricing of fuels, which are unknown; hence the mechanisms we have for dealing with compliance costs are flexible, it shared.
SMART ESM monitors regulated water quality parameters PAH, Turbidity, Temperature and pH, on open-loop, closed-loop and hybrid scrubber systems.
Secretary-general of Iranian Shipowners’ Association says country has only one VLSFO producing refinery.
Bought at least seven 30,000 mt cargoes from different suppliers since March for onto tanker Oceania.
IBIA Asia, ABIS, sources from Singapore’s bunkering and surveying companies, and an industry veteran share with Manifold Times the issues expected from MPA’s latest Covid-19 measures.
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
Claim relates to deliveries of MGO to the vessels Pacific Diligence, Pacific Valkyrie, Pacific Defiance, Crest Alpha 1, and Pacific Warlock between March 2020 to April 2020.
3,490 mt of LSFO from Itochu Enex was lifted at Universal Terminal; the same bunker stem was bought by Global Marine Logistics and delivered by bunker tanker Juma to receiving vessel Kirana Nawa.
