Ben Wrinkley of global energy and commodity price reporting agency Argus Media on Wednesday (26 February) issued a report highlighting exceptions in coronavirus-related restrictions that Kuwait has placed on foreign vessels:
The coronavirus-related restrictions that Kuwait has implemented at its ports do not cover oil traffic.
The country’s communications ministry said “oil sector ships” were exempt from an earlier edict that it would not receive foreign vessels arriving from or departing to China, Hong Kong, Singapore, Japan, South Korea, Italy, Thailand and Iraq until further notice.
China, South Korea and Japan are the three biggest buyers of Kuwait’s crude. Sources at KPC confirmed that all oil exports are continuing uninterrupted.
The restrictions were imposed as the Middle East moves to prevent the spread of coronavirus. An outbreak in Iran, the deadliest outside China, has led to flight suspensions across the region.
Photo credit and source: Argus Media
Published: 27 February, 2020
Manifold Times checks with industry players on how the recent sharp fall in crude oil prices have affected each node along the marine fuels supply chain in Singapore.
PDB may reevaluate its supply arrangement and implement remedies if business partners do not meet all legal and regulatory requirements.
Significant uptick in the number of quality claims being alleged by ship owners has also been seen since the implementation of contactless bunkering operations, notes Partner at Rajah & Tann.
Shares fell by 10% at end of trading on Friday as firm says current fuel costs cannot be ‘fully offset’.
China’s bonded bunker fuel sales dropped by about 0.15 million (mln) mt to 1.55 mln mt in May due to lower demand for the product, JLC data showed.
Including the new hires, the team in Copenhagen now counts 12 traders, says company.
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.
