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ENGINE: East of Suez Bunker Fuel Availability Outlook

Strong demand and stocks drawn in Singapore; OPL bunkering still suspended in Zhoushan; mostly good availability in Indian ports.

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The following article regarding regional bunker fuel availability outlook for the East of Suez region has been provided by online marine fuels procurement platform ENGINE for publication on Singapore bunkering publication Manifold Times:

30 November 2022

ENGINE: East of Suez Bunker Fuel Availability Outlook

  • Strong demand and stocks drawn in Singapore
  • OPL bunkering still suspended in Zhoushan
  • Mostly good availability in Indian ports

Singapore

Singapore has been witnessing robust VLSFO demand lately, which has contributed to tighten availability of the grade in the port, with lead times now stretching to almost two weeks ahead. Recommended lead times for HSFO are shorter at 7-9 days, and shortest for LSMGO at 5-7 days.

Residual fuel oil stocks in Singapore have averaged 5% lower so far in November than in October, according to Enterprise Singapore. This has brought the stocks further below their five-year average position for the time of the year. The stock draw has come despite a 13% increase in net imports this month, and could be a sign of strong demand for fuel oil.

East Asia

Bunker operations in Zhoushan’s outer port limits have been suspended amid bad weather since Sunday, putting a strain on the port's supply capacity. Bunkering might resume on 2 December, when calmer weather is forecast, a source says.

The port had been pricing VLSFO at elevated levels to other major Asian hubs since the beginning of November, but its price recently flipped to a discount to Singapore. The Chinese bunkering hub has been seeing sluggish bunker demand of late, a source says.

Recommended lead times for both VLSFO and LSMGO in Zhoushan are 2-3 days, and a longer seven days are advised for HSFO.

Weather-induced disruptions continue to hamper bunker operations across the southern ports of South Korea, sources say. Recommended lead times for all grades for both southern and western South Korean ports are 4-5 days, but the deliveries in the southern ports might be delayed due to bad weather.

Availability remains okay across all grades in Hong Kong with lead times of seven days. Some suppliers have been grappling with tight barge schedules, a source says.

South Asia

VLSFO availability in India’s Mumbai remains steady with lead times of 2-3 days advised.

Availability of VLSFO is good in Mundra on India's northwest coast and requires lead times of 2-3 days. Recommended lead times for VLSFO delivery in Kandla are 2-3 days.

While VLSFO availability is good in Cochin and Chennai on India's southern coast, VLSFO availability is subject to inquiry in nearby Tuticorin.

Lead times of 2-3 days for VLSFO are recommended in Visakhapatnam on the east coast.

Suppliers in Paradip on India’s east coast have almost run out of VLSFO. VLSFO can be delivered in Haldia with recommended lead times of 2-3 days.

Availability across all grades remains good in the Sri Lankan port of Colombo with lead times of six days recommend.

Middle East

Suppliers in Fujairah continue to grapple with weak demand so far this month. A source says that most suppliers and buyers are holding back transactions until the G7 price cap on Russian oil comes into effect to answer more questions around future supply-demand dynamics. This has contributed to weaken in the Fujairah bunker market.

Recommended lead times for both VLSFO and LSMGO in Fujairah are similar at around nine days, and HSFO requires shorter lead times of seven days.

LSMGO remains readily available in the Omani ports of Duqm and Sohar, with short lead times of around two days possible.

By Tuhin Roy

 

Photo credit and source: ENGINE
Published: 2 December, 2022

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Winding up

Singapore: Liquidator of Vanda Marine Services issues notice of dividend

First and final dividend of company is payable from 23 January at Rock Stevenson Pte Ltd, 8 Burn Road, Trivex #16-12, Singapore 369977, according to Government Gazette notice.

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A notice was published in the Government Gazette on Thursday (22 January) regarding the first and final dividend to creditors of Vanda Marine Services Pte Ltd.

The following are details of the notice of dividend of the company:

Name of Company : Vanda Marine Services Pte Ltd(In Creditors’ Voluntary Liquidation)

Unique Entity No. / Registration No. : 201209660C

Address of Registered Office : 8 Burn Road, Trivex #16-12, Singapore 369977

Amount per centum : 23 per centum of all admitted ordinary claims

First and Final or otherwise : First and Final

When payable : 23 January 2025 onwards

Where payable : c/o Rock Stevenson Pte Ltd, 8 Burn Road, Trivex #16-12, Singapore 369977

Manifold Times previously reported several resolutions for Vanda Marine Services, including winding up the company voluntarily, were passed during an extraordinary meeting in March last year.

Related: Singapore: Vanda Marine Services liquidator issues notice of intended dividend
Related: Singapore: Liquidators arrange creditors meeting for Vanda Marine Services
Related: Singapore: Vanda Marine Services undergoes voluntary liquidation

 

Photo credit: steve pb from Pixabay
Published: 23 January, 2025

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Methanol

China launches first simulation training platform for methanol bunkering operations

Through the real-life simulation, the platform helps ship operators improve their safety management and emergency response capabilities, improving the development of green shipping technologies.

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Zhoushan Port Anchorage

China launched its first training platform to simulate methanol bunkering operations at Putuo District, Zhoushan on 15 January. 

The Methanol Bunkering System Simulation Training Platform V1.0 was created to fill technical gaps in domestic methanol bunkering training and exercises, in light of the growing demand and popularity for methanol in the shipping industry.  

Through the real-life simulation, the platform helps ship operators improve their safety management and emergency response capabilities, improving the development of green shipping technologies.

The platform was jointly developed by Zhejiang Ocean-U New Energy System Engineering and Zhejiang Ocean University. 

At the press conference , Zhejiang Ocean-U New Energy System Engineering successfully signed its first purchase agreement with Seacon Ships Management (Zhejiang), making Seacon the first customer to purchase the platform service. 

Wang Guofeng, chairman of Seacon, said that the platform has great potential in improving crew operating efficiency and safety, and he looks forward to deeper cooperation with Zhejiang Ocean-U New Energy System Engineering in the future.

Professor Lu Jinshu, Vice President of Zhejiang Ocean University, said they will continuously improve the platform to contribute more in the field of green shipping solutions to the industry. 

 

Photo credit: Manifold Times
Published: 23 January, 2025

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Hydrogen

Klaipėda Port launches Lithuania’s first hydrogen-powered vessel

Tanker’s power system, which will consist of two electric motors powered by 2,000 kWh batteries and a hydrogen fuel cell system, will enable it to operate for up to 36 hours without additional power charging.

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Klaipėda Port launches Lithuania’s first hydrogen-powered vessel

Klaipėda State Seaport Authority on Wednesday (22 January) said the first ever green hydrogen and electricity-powered ship in Lithuania has been moved from shipyard into water. 

Leaving no trace on the environment, it will clean other vessels entering the port, accepting waste from them.

According to the current rules, vessels are obliged to hand over the waste they produce when they arrive and before they leave Klaipėda Port. The Seaport Authority was entrusted with the collection of the waste, and the company decided to use modern and environmentally friendly equipment to further improve the quality of the ship waste collection service.

The tanker’s main function is to collect storm water, sewage, sludge and garbage, as well as to ensure efficient waste management. The ship will be equipped with special tanks and a modern rainwater treatment plant that will allow the treated water to be transferred to the city’s sewage treatment plants. The tanker will be ready to work around the clock and collect up to 400 cubic metres of liquid waste.

The tanker is 42 metres long and 10 metres wide. The ship’s power system will consist of two electric motors powered by 2,000 kWh batteries and a hydrogen fuel cell system. Depending on the intensity of the work, the tanker will be able to operate in the port of Klaipėda for up to 36 hours without additional power charging.

This ship building project with a total value of EUR 12 million (USD 12.5 million) has been commissioned by the Port Authority and is being built by West Baltic Shipyard together with Baltic Workboats under a joint operating agreement.

“We have not only launched a tanker, but also a new approach to port operations – cleaner, smarter and more environmentally friendly. This first ever hydrogen and electricity-powered ship is not only an innovative technological solution, but also an important step in strengthening Lithuania’s image as a modern maritime nation,” said Algis Latakas, Director General of Klaipėda State Seaport Authority.

“At the moment, the tanker is getting used to the seaport water, so to speak, and at the end of the year we expect it to start its important mission of taking care of the clean seaport environment. Such a decision will not leave a footprint on nature, but it will certainly leave a strong mark on our path to a greener future.”

In June last year, a symbolic keel-laying ceremony at the West Baltic Shipyard of the West Baltic Shipyard Group marked the start of the ship’s construction. To date, the hull has been fabricated and painted, with piping, valves, coolers, shaft lines, rudder feathers, heat and fire insulation installed.

Once the tanker is moved into the water, the engine room equipment will be installed, the interior of the wheelhouse will be redecorated, the electrical wiring and the main electrical engines will be installed, the hydrogen system will be installed and other work necessary for the operation of the ship will be carried out.

 

Photo credit: Klaipėda State Seaport Authority
Published: 23 January, 2025

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