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Experts discuss state of global bunker fuel market at ‘Argus Bunker Fuel 2021

Greatest interest among alternative fuels is now in methane as its use in the market as LNG as a marine fuel is already well established, said IBIA Director.

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Global energy and commodity price reporting agency Argus Media on Saturday (20 February) said participants from 26 countries joined the broadcast of its international online conference Argus Bunker Fuel 2021: CIS and Global Markets on Friday, 19 February.

The conference was supported by the International Bunkering Association (IBIA) and was sponsored by Vortexa.

Representatives from IBIA, Gazpromneft Marine Bunker, Vortexa, Monjasa, VPS, as well as Argus experts from different countries spoke at the event which boasted participants from Russia, Kazakhstan, Great Britain, USA, Japan and so on.

The conference began with a presentation by Stefka Wechsler, editor of Argus Marine Fuels, on the global marine fuel market where she presented a detailed analysis of the bunker markets in Asia, America and Europe.

Wechsler noted Argus is monitoring the development of the bunker market, including low carbon fuels, by publishing prices for ammonia, liquified natural gas (LNG) and CO2.

An overview of the Russian bunker market was presented by Yana Sheremetyeva, Senior Correspondent of Argus Russian Fuel Oil.

Sheremetyeva said data shows sales of high-sulfur fuel oil continue, while consumption of low-sulfur fuel oil (VLSFO) has grown significantly in Russia. Sheremetyeva also noted sales of all types of fuel on the Russian market falling by 30% in 2020.

At the same time, prices for VLSFO dropped by half, to $ 365 / t. Most noticeably, VLSFO fell in price in late April – early May due to a lockdown in ports in the Asia-Pacific region (APR) and Europe.

Nigel Draffin, Member of the Board of Directors, Honorary Treasurer of IBIA presented a comparison between different types of marine fuels. According to Draffin, the greatest interest among alternative fuels is now in methane as its use in the market as LNG as a marine fuel is already well established.

Draffin noted serious research is also underway to use biodiesel for refueling ships in the inland waters of certain countries. However, biofuels are not yet used on long sea routes. According to Draffin, the use of LNG in the bunkering segment in the future will be limited to 10-15% of total demand.

The discussion was continued by Efim Suchkov, a representative of Gazpromneft Marine Bunker, who spoke about the use of LNG as an alternative fuel.

In particular, Suchkov noted in a little over two years the gas-fuel fleet has grown by almost 50%, and the number of LNG bunkering vessels has tripled. For the dynamic development of the LNG bunkering market in Russia, it is necessary to approve measures of state support, he added.

Arthur Reacher, Lead Freight Analyst, Vortexa, presented changes in the freight traffic landscape over 2020. He noted a significant decrease in supply from suppliers in the past year – with production volumes at refineries in the world being much lower than in previous years.

At the same time, trade flows to Asia have accounted for most of the demand for fuel in 2020. Reacher added there is also a decrease in reserves in the APR countries. With regards to the outstripping rates of economic development of Asian countries in comparison with other regions, Reacher noted the main fuel supplies will continue to flow there in the observable future.

Rauf Huseynov, Senior Editor at Argus, presented an overview of the bunker fuel market in the Caspian region. According to Huseynov, the gradual easing of restrictive measures will lead to an intensification of ship traffic and an increase in demand for marine fuel in the near future.

As the market recovers, competition between the Caspian ports will increase. If the sanctions against Iran are softened, it can be expected Iranian fuel will be available to the participants of the Caspian market in certain volumes.

Photo credit: Argus Media
Published: 22 February, 2021

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China: Yangpu records 27% on year increase in bunkering volumes from Jan to May

Latest bunker supplier at Yangpu port is Hainan Luhai Energy which received a license from the Danzhou Municipal People’s Government in April 2025.

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The Port of Yangpu located in Hainan Island recorded a 27% on year increase in bonded bunkering volume for the period between January to May 2025 due to local government initiatives, according to Danzhou Municipal People’s Government on 5 July.

During the five-month period, the port supplied 149,400 metric tonnes (mt) of bunker fuel to 288 international vessels, compared to 117,400 mt of marine fuel to 278 ships in the year before.

Explaining the 2025 figures, the government pointed out 145,400 mt of bonded bunker fuel to 275 vessels were delivered by bunkering firms under national licenses, while 4,000 mt of bonded marine fuel were sent by bunkering companies under Hainan licenses.

To date, there are four bunker suppliers operating at Yangpu port. The latest to join is Luhai Energy Technology Development (Hainan) Co., Ltd (陆海能源科技发展(海南)有限公司) which received a license from the Danzhou Municipal People’s Government in April 2025.

“In the future, we will continue to work hard to continuously optimise the bonded oil refuelling service system, increase policy publicity and promotion efforts, attract more bonded oil refuelling companies to settle in Yangpu, and continuously expand the scale of business, and promote the implementation of the bonded oil refuelling policy,” stated Li Leiming, a mid-level employee of the Yangpu Investment Promotion Bureau.

 

Photo credit: Chuanhaozi under Creative Commons Licences
Published: 14 July 2025

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Singapore retains ranking as world’s top maritime centre for 12th consecutive year

Finds report jointly published by the Baltic Exchange and China’s Xinhua News Agency.

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Singapore bunker tankers and sky

Singapore on Friday (11 July) said it has retained its ranking as the world’s top maritime centre, marking the 12th consecutive year it has led the Xinhua-Baltic International Shipping Centre Development (ISCD) Index.

Jointly published by the Baltic Exchange and China’s Xinhua News Agency, the Xinhua-Baltic ISCD Index provides an independent benchmarking of the world’s leading maritime hubs.

It evaluates factors such as cargo throughput, port infrastructure, maritime services (including finance, law and shipbroking), and the overall business environment.

The index is closely monitored by shipping lines, port investors, and maritime service providers to track market competitiveness, and inform investment location and service development decisions.

Singapore retained its top position among 43 maritime cities and regions, underpinned by its consistent performance as one of the world’s busiest transhipment and bunkering hubs, and a well-established ecosystem of professional maritime services and expertise.

In 2024, Singapore handled 41.12 million twenty-foot equivalent units (TEUs) in container throughput – a record high – and saw total vessel arrival tonnage exceed 3 billion gross tons. The Port of Singapore also remains the world’s largest bunkering port, having supplied 54.92 million tonnes of marine fuel in 2024.

Home to more than 200 international shipping groups and a growing number of maritime technology start-ups, Singapore continues to strengthen its position as a global node for maritime innovation and enterprise.

This growing industry base is also creating new career pathways in areas such as port operations, digital systems management, automation, maritime law, and sustainability – as the sector transforms to meet the needs of a more digital and decarbonised future.

“We thank our industry partners, the research and enterprise community, and our unions who have been instrumental in Singapore’s journey to become a leading international maritime centre and global hub port,” said Ang Wee Keong, Chief Executive of the Maritime and Port Authority of Singapore.

“We will continue to build on this momentum by innovating and investing in digitalisation, green technologies, and workforce development to strengthen Singapore’s position as a trusted and future-ready international maritime centre.”

 

Photo credit: Manifold Times
Published: 14 July 2025

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“LNG London” marks 1,000 safe LNG bunkering ops in Rotterdam and Antwerp

Milestone is a tribute to the technical expertise and steadfast dedication of LNG London’s team, states Victrol.

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The LNG London, a liquefied natural gas (LNG) bunkering vessel chartered by Shell, owned by LNG Shipping, and operated by Victrol recently completed over 1,000 safe LNG bunkering operations across the ports of Rotterdam and Antwerp.

“This landmark achievement underscores LNG London’s unwavering commitment to safety, reliability, and environmental stewardship as LNG rises to prominence as a lower-emission marine fuel compared to conventional fuel oil,” stated Victrol on Friday (11 July) over a LinkedIn update.

“With this milestone, LNG London reaffirms its pioneering role in promoting sustainable, lower-emission bunkering throughout the Amsterdam–Rotterdam–Antwerp (ARA) hub.”

Launched in June 2019, LNG London has a capacity of 3,000 m³, spans 110 m in length, and navigates inland waterways with ease—facilitating efficient LNG supply to both seagoing vessels and barges offshore-energy.

Victrol as the vessel’s operator, emphasises the outstanding performance of the crew and the vessel’s robust design. Built with stringent safety specifications, LNG London strives to maintain high operational standards. This milestone is a tribute to the team’s technical expertise and steadfast dedication.

Building on the good work of LNG London, Shell had also enhanced its bunkering network with the larger Energy Stockholm, an 8,000 m³ bunker vessel, now operating in Antwerp, Rotterdam, Zeebrugge, and Amsterdam.

Related: Europe: ‘LNG London’ bunkering vessel starts operations at Rotterdam
Related: “LNG London” conducts first ship-to-ship LNG bunkering operation at Rotterdam
Related: Bureau Veritas classifies Europe’s largest inland waterway LNG bunker barge
Related: Europe’s largest LNG bunkering barge on maiden voyage to ARA
Related: Shell takes delivery of Europe’s largest inland LNG bunkering vessel

 

Photo credit: Victrol
Published: 14 July 2025

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