Connect with us

Business

Emergence of China’s marine fuels industry challenges Singapore’s dominant position

Former Zhoushan Customs official forecasts China’s marine fuel sales will increase to 20 million tons in 2021, further narrowing the gap with Singapore.

Admin

Published

on

post 52534

Disclaimer: An online translation service was used in the production of the current editorial piece.

Singapore has long been Asia’s largest bunker fuel supplier, but this situation may change due to the emergence of China, according to a recent report by an independent Singapore publication.

The report also noted China, the world's second largest economy, now having the ability to attract more ships to refuel after building a large number of oil refining facilities and ports.

In late July, Bloomberg reported China’s marine fuel sales almost doubling in the past five years. However, Singapore is still the first within the global bunkering sector with annual sales exceeding USD 30 billion.

In 2020, Singapore sold 50 million tons of marine fuel, while China sold 16.9 million tons.

“Singapore has an advantage over other Asian ports in all indicators, and other ports have been trying to catch up. For example, Zhoushan, China will definitely do it; and get a piece of it,” said Drewry Maritime Advisory Director, Jayendu Krishna, as quoted by Bloomberg.

According to the report, Zhoushan is an important supply centre for China's marine fuel industry.

To date, the Chinese government has spent USD 80 million to increase local anchorage capacity while expanding its shipping channels.

Recently, another 10 marine fuel companies have obtained licenses to operate in Zhoushan.

The price of local bonded bunker fuel is slightly lower than that of Singapore, and the location is geographically closer to major shipping countries such as Japan and South Korea, thus enhancing the port’s market competitiveness within the Northeast Asia region.

A woman formerly employed by Zhoushan Customs stated: “China’s fuel supply business is closely following Singapore.”

She predicts China’s marine fuel sales will increase to 20 million tons in 2021, thus further narrowing the gap with Singapore. In addition to Zhoushan, Shenzhen has also begun to make efforts in the bonded fuel oil sector.

However, Bloomberg also pointed out Singapore to be a better location for bunkering – geographically speaking. The country is located in the middle of busy trade routes connecting Europe, the Middle East and the Gulf Coast of the United States that have been formed over the centuries, and plans to build the world’s largest automated pier.

In addition, Singapore has a huge refining and storage network that can ensure a steady flow of bunker fuel to ships. Hence, industry observers generally believe the republic’s leading position will remain for a long time.

Related: Shenzhen plans acceleration of domestic and international LNG bunkering business
Related: Chinese government issues bonded bunkering permission at Guangzhou port

 

Photo credit: Manifold Times
Source: ZS Bunker
Published: 27 December, 2021

Continue Reading

Newbuilding

Singapore: EPS orders ammonia, LNG dual-fuel vessels from China

EPS signed one contract for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International.

Admin

Published

on

By

300

Singapore-based Eastern Pacific Shipping (EPS) on Wednesday (28 February) said it signed two new contract orders in a signing ceremony in Shanghai, one for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International. 

The contracts signed cover four 210,000 dwt ammonia dual-fuel bulk carriers and two 111,000 dwt LNG dual-fuel LR2 oil tankers, expanding our fleet of green vessels on water. 

“These are pivotal for EPS, testament to our continued commitment towards the decarbonisation of shipping,” EPS said in a social media post.

Manifold Times recently reported EPS signing a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard the Pacific Sentinel

The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate exceptional propulsive efficiency, will be fitted later this year, helping the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%, depending on vessel routing.

Related: Singapore: EPS orders its first wind-assisted propulsion system for tanker

 

Photo credit: Eastern Pacific Shipping
Published: 1 March 2024

Continue Reading

LNG Bunkering

Malaysia: Port of Tanjung Pelepas completes first LNG bunkering operation

Landmark event involved the CMA CGM Monaco, a 14,024 TEUs containership operated by French shipping giant CMA CGM.

Admin

Published

on

By

299

Port of Tanjung Pelepas Sdn Bhd (PTP), a joint venture between MMC Group and APM Terminals, on Wednesday (28 February) announced a significant milestone with the successful completion of its first Liquefied Natural Gas (LNG) bunkering operation. 

The landmark event involved the CMA CGM Monaco, a 14,024 TEUs (Twenty-foot Equivalent Units) capacity containership operated by French shipping giant, CMA CGM.

Tan Sri Che Khalib Mohamad Noh, Chairman of PTP in a statement remarked this latest milestone demonstrates PTP’s commitment to continuously enhance its competitive advantages in an increasingly competitive global market.

“The successful completion of our first LNG bunkering operation also underscores our unwavering commitment to sustainability and environmental leadership. We are proud to partner with Petronas Trading Corporation Sendirian Berhad (PETCO) and CMA CGM on this initiative and showcase PTP’s capabilities as a leading facilitator of clean and efficient maritime operations.”

“This milestone paves the way for further growth in LNG bunkering at PTP, contributing significantly to the decarbonisation of the maritime industry.”

Commenting on this achievement, Mark Hardiman, Chief Executive Officer of PTP stated this latest milestone further highlights PTP’s position as the largest transshipment hub terminal in Malaysia.

“In preparation for the LNG bunkering operation, PTP worked closely since March 2022 with PETCO and CMA CGM, as well as with various other related government agencies to organise table-top exercises (TTX) and workshops, before carrying out the deployment exercise.”

“The success of the bunkering operation is a result of the seamless collaboration and preparations involving rigorous safety procedures through in-depth operational and risk assessments, modelling, and validation. We thank PETCO, CMA CGM all other involved parties for their joint efforts in operationalising the bunkering capability and we welcome partners to work with us to accelerate maritime decarbonisation,” said Hardiman.

Port of Tanjung Pelepas (PTP) is Malaysia’s largest transshipment hub with the capacity to handle 13 million TEUs annually. The port delivers reliable, efficient, and advanced services to major shipping lines and box operators, providing shippers in Malaysia and abroad with extensive connectivity to the global market. PTP is currently ranked 15th among the world top container ports.

 

Photo credit: Port of Tanjung Pelepas
Published: 1 March 2024

Continue Reading

Alternative Fuels

Wallenius Wilhelmsen to order four additional methanol DF PCTCs

Newbuilds will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

Admin

Published

on

By

Wallenius Wilhelmsen PCTC order

Roll-on/roll-off (Ro-Ro) shipping company Wallenius Wilhelmsen on Tuesday (27 February) declared options to build four additional next-generation Shaper Class pure car and truck carrier (PCTC) vessels.

The 9,300 CEU methanol dual fuel vessels can utilise alternative fuel sources, such as methanol, upon delivery. They will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

“Together with our customers we are committed to further shaping our industry and accelerating towards net zero. These new vessels are a vital part of that journey,” says Xavier Leroi, EVP & COO Shipping Services.

This latest commitment brings the total number of Shaper Class vessels currently on order with Jinling Shipyard (Jiangsu) to eight. Wallenius Wilhelmsen also retains further options.

The first of the Shaper Class vessels already ordered are expected to be delivered in the second half of 2026. The four additional vessels under the declared options will be delivered between May and November 2027.

 

Photo credit: Wallenius Wilhelmsen
Published: 1 March 2024

Continue Reading
Advertisement
  • RE 05 Lighthouse GIF
  • SBF2
  • v4Helmsman Gif Banner 01
  • Aderco advert 400x330 1
  • EMF banner 400x330 slogan
  • Consort advertisement v2

OUR INDUSTRY PARTNERS

  • Singfar advertisement final
  • HL 2022 adv v1
  • Triton Bunkering advertisement v2
  • 102Meth Logo GIF copy


  • metcore
  • SMS Logo v2
  • Kenoil
  • E Marine logo
  • intrasea
  • Manifoldtimes LogoAdv 300x300px
  • Innospec logo v6
  • Cathay Marine Fuel Oil Trading logo
  • Trillion Energy
  • CNC Logo Rev Manifold Times
  • Advert Shipping Manifold resized1
  • 400x330 v2 copy
  • VPS 2021 advertisement
  • Headway Manifold

Trending