Connect with us

Business

BIMCO: High-sulphur fuel oil sales reach 24% of total in Singapore

‘We expect that the share taken up by HSFO sales will continue to rise this year, due to a larger share of the fleet getting scrubber-fitted,’ said Chief Shipping Analyst.
Admin

Published

5 years ago

on

Screen Shot 2020 08 26 at 1.16.41 PM

BIMCO, on Wednesday  (19 August) published a report explaining the recent rise in HSFO bunker sales in Singapore and why this reaffirms its predictions that HSFO sales will continue to increase despite the implementation of the IMO 2020 sulphur cap: 

Nearly a quarter of total bunker sales in Singapore refuelled scrubber-fitted ships with high-sulphur fuel oil (HSFO) in July, thereby reaching the highest level of HSFO sales so far in 2020 with 24% of total bunker sales – or 988,000 tonnes.

Despite overall uncertainty in the markets, and low demand for shipping, total bunker sales in Singapore reached a four-months high in July. The month showed a 7% growth in total bunker sales compared with the same period last year, and 8.5% growth from last month, with total July bunker sales reaching 4,157.7 thousand tonnes.

“Some pundits argued that the IMO 2020 sulphur regulation would be the demise of high-sulphur fuel oil for the global shipping industry. BIMCO argued differently, and the fact that high-sulphur fuel oil sales now amount to 24% of total sales has not taken us by surprise,” says Peter Sand, BIMCO’s Chief Shipping Analyst. 

“In fact, we expect that the share taken up by high-sulphur fuel oil sales will continue to rise as this year progresses, due to a larger share of the fleet getting scrubber-fitted,” Sand says.

Low-sulphur fuel oil refuels the lions’ share of the fleet

Implementation of the IMO 2020 global sulphur cap saw a major disruption in the share split between high-and low-sulphur fuel oil, with the latter taking up 84% of the share in February. In recent months, the share of total sales occupied by the low-sulphur fuels has declined to 76% in July. The change mirrors the rise in the number of ships fitted with a scrubber.


Photo credit and source: BIMCO
Published: 26 August, 2020

Related Topics:
Continue Reading

Newbuilding

Singapore: Pinnacle Marine’s first B100 fuelled utility boat starts 1,000-hour research trial

Newbuilding operated by Prestige Ocean Pte Ltd will capture data on bunker fuel emissions, marine fuel behaviour, and performance.
Admin

Published

4 hours ago

on

July 9, 2025

By

President MT

The 50th vessel constructed by local boat builder Pinnacle Marine (Singapore) Pte Ltd, namely President 100, is starting 1,000 hours of real-time research trials in collaboration with several parties from Wednesday (9 July) onwards, it says.

Powered by B100 biodiesel, the newbuilding operated by Prestige Ocean Pte Ltd will capture data on bunker fuel emissions, marine fuel behaviour, and performance.

It will be participating in trials with Maritime Energy & Sustainable Development Centre of Excellence (MESD), Weichai Singapore, China Classification Society, Pacific International Lines (PTE) Ltd, Abo Shoten, Ltd. / 株式会社安保商店 , Abo Singapore, Wilmar International, Gulf Marine, Amspec Testing & Services, and AYK Engineering and Consulting.

President MT 02

The President 100, Pinnacle Marine’s first full biodiesel utility boat, was launched on Tuesday in the presence of over 100 guests.

“Our latest vessel, President 100, merges legacy and future. Named after our first aluminium boat (“President”) and inspired by B100 biodiesel, it leads the charge for our next 50 vessels — many of which will embrace green technology,” stated Pinnacle Marine in a LinkedIn post.

“The launch was amazing, with strong turnout from across the maritime sector — authorities, shipowners, operators, agencies, chandlers, researchers, offshore engineers, and petrochemical suppliers.”

It added: “We’re excited to see how it paves the way for wider adoption of B100 biodiesel — a cleaner, sustainable path for Singapore’s harbour craft sector.”

 

Photo credit: Pinnacle Marine (Singapore) Pte Ltd
Published: 9 July 2025

Continue Reading

Newbuilding

BHP awards charter contracts for two ammonia dual-fuelled bulk carriers

BHP continues to work with the maritime industry to develop an ammonia bunkering plan for the two vessels when they are delivered from 2028.

Admin

Published

4 hours ago

on

July 9, 2025

By

BHP ammonia DF charters

Global resources company BHP on Wednesday (2 July) signed contracts with COSCO Shipping Bulk Co., Ltd., a subsidiary of COSCO shipping Group (COSCO Shipping) for the charter of two ammonia dual-fuelled Newcastlemax bulk carriers.

The new vessels to be built under this arrangement will be two of only a handful of vessels in the world capable of using ammonia as a bunker fuel.

The two vessels, expected to be delivered from 2028, will primarily transport iron ore from Western Australia to Northeast Asia.

When run on lower or low to zero greenhouse gas (GHG) emissions ammonia, these vessels will be capable of reducing GHG emissions by at least 50% and up to 95% on a per voyage basis compared to a conventionally fuelled voyage.

The five-year time charter contracts are expected to contribute towards a reduction in the GHG emissions intensity of BHP chartered shipping.

BHP continues to work with the maritime industry to develop an ammonia bunkering plan – the process of fuelling ships with ammonia – for the two vessels when they are delivered from 2028.

Sourcing lower and low to zero GHG emissions ammonia is subject to an ongoing tender process.

 

Photo credit: BHP
Published: 9 July 2025

Continue Reading

Milestone

Everllence celebrates 1,000th ME-GI engine; milestone unit goes to Hapag-Lloyd

Engine, a 7G95ME-GI type, bound for a Hapag-Lloyd container vessel currently under construction at Jiangsu New Yangzi Shipbuilding Co., Ltd.
Admin

Published

4 hours ago

on

July 9, 2025

By

festakt hapag lloyd thumbnail MT

Everllence, formerly known as MAN Energy Solutions, on Tuesday (8 July) celebrated the order of its 1,000th ME-GI engine that can run on either heavy fuel oil or liquefied natural gas (LNG) as a bunker fuel.

The engine, a 7G95ME-GI type, is bound for a Hapag-Lloyd container vessel currently under construction at Jiangsu New Yangzi Shipbuilding Co., Ltd. where it is designated as hull #1721.

Rolf Habben Jansen, CEO of Hapag-Lloyd, said: “We are proud to mark this milestone with our partner, Everllence. The order for the 1,000th ME-GI engine reflects our commitment to decarbonising global supply chains. Dual-fuel technologies like the ME-GI are a key step on our journey to a low-emission fleet and support our ambition to drive change across the industry.”

Dr Uwe Lauber, CEO of Everllence, added: “Considering that the strongest interest in the ME-GI engine has come from the container segment, it is fitting that this significant milestone should be reached with an order from such a prestigious container player as Hapag-Lloyd. On the path to net-zero, the marine industry needs pioneers and Hapag-Lloyd is leading the way by example.”

“2025 has seen a large increase in ME-GI orders as methane makes for an excellent transition fuel on the way to decarbonising shipping. The ME-GI’s market-leading efficiency and technological maturity – as well as lowest methane slip – have confirmed its status as the marine industry’s default, dual-fuel, methane-fuelled engine.”

 

Photo credit: Everllence
Published: 9 July 2025

Continue Reading

Trending