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FUJCON to make its physical return at Fujairah in UAE on 13 to 15 March 2023

Forum will examine market developments and Fujairah’s future bunker fuel options from supply, operational, environmental and economic perspectives.

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The International Fujairah Bunkering & Fuel Oil Forum (FUJCON) will be returning for an in-person, 13th  convening in Fujairah on 13 to 15 March, 2023, following the 2021 virtual session and the last in-person session in 2019, prior to the Covid-19 pandemic, according to S&P Global on Monday (5 December). 

The International Fujairah Bunkering & Fuel Oil Forum is now organised by S&P Global Commodity Insights and hosted by the Department of Industry & Economy, Government of Fujairah and the Port of Fujairah. FUJCON 2023 is held under the Patronage of His Highness Sheikh Hamad bin Mohammed Al Sharqi, Member of the UAE Supreme Council and Ruler of Fujairah. It is supported by the Fujairah Oil Industry Zone.

FUJCON 2023 is expected to attract participants from the Middle East, Asia, Africa, Europe and the Americas. They will include leading oil and bunker producers, traders, oil majors, national oil companies, shipowners and operators, managers, brokers, charterers, terminal operators, refiners, classification societies, shipping consultants and digital technologists, as well as banks and exchanges, legal firms, regulators, testing laboratories, renewable energy players, and other supply/service companies. 

This year’s FUJCON 2023 theme is The Maritime Energy Transition and Future Fuels and the forum will explore the energy transition and carbon reduction requirements that are forcing a paradigm shift in the maritime industry. It will examine market developments and Fujairah’s future fuel options from the supply, operational, environmental and economic perspectives, as well as the possible technologies, investments, delivery infrastructure and industry collaboration needed to uncover new low-carbon maritime solutions and achieve sustainability goals.

Dr Mohammed Saeed Al Kindi, Chairman of the FUJCON Steering Committee, said: “Against the backdrop of Fujairah, which is recognised as a global hub for bunkering, oil storage, and crude and petroleum products supply, FUJCON 2023 will provide an exciting opportunity for key players in the bunkering and maritime industries to come together for both critical discussions and the Forum’s networking opportunities. We are delighted to be hosting FUJCON in-person once again, providing a meeting ground for the important dialogues, deliberations and discussions that have been a distinguishing feature of FUJCON since its inception, as well as the networking opportunities that have been its hallmark over the years” 

Fujairah is experiencing the development of a number of major projects that will further strengthen its leading position as the Middle East’s largest storage & trading hub, significantly increase its dry-bulk footprint and enhance its maritime service offering. By the beginning of 2023, the port will commission its new dry-bulk export facility in Dibba, adding an initial 18 million tons of aggregate handling capacity. 

Also expected in 2023 is the Etihad Rail project, which will connect Fujairah by rail with other key economic zones in the United Arab Emirates for the movement of containers & general cargo. Last April, ADNOC announced its new, carbon-efficient Fujairah LNG plant moved to the design stage, with the project expected to produce 9.6 million tons per year of LNG to help meet the growing global demand for natural gas. The design stage is expected to be followed by the award of an engineering, procurement and construction contract in 2023.

Dave Ernsberger, Head of Market Reporting & Trading Solutions, S&P Global Commodity Insights, said: “Fujairah and the surrounding markets have continued to evolve and grow throughout the past few years, even as global markets have worked through their own transformations. FUJCON 2023 is an ideal moment for market participants from around the world to reconnect in the UAE, and bring together updates on the latest developments in the local markets, with their experiences of change in the global space. This is the right time to organize and prepare for opportunities and challenges that the coming months and years will bring.”

Note: For more information about FUJCON 2023, please visit www.fujcon.com 

 

Photo credit: S&P Global Commodity Insights
Published:7 December, 2022

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LNG Bunkering

Singapore: Pavilion Energy supplies LNG to TFG Marine dual-fuel bunker tanker

“MT Diligence” was refuelled with 34 cubic metres of LNG bunker fuel, supplied by Pavilion Energy, marking the first LNG bunkering of TFG Marine’s bunker vessel.

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Singapore: Pavilion Energy supplies LNG to TFG Marine bunker tanker

Global marine fuel supply and procurement firm TFG Marine on Monday (20 May) announced the completion of the first liquefied natural gas (LNG) refuelling of its dual-fuel bunker tanker MT Diligence this week in Jurong Port, Singapore.

The 34 cubic metres (m3) of LNG to power the MT Diligence was supplied by the Marine division of Singapore-headquartered Pavilion Energy. 

“Deploying a vessel that can be powered by LNG as well as conventional low sulphur marine fuels helps TFG Marine to meet its licence requirement with the Maritime and Port Authority of Singapore (MPA),” TFG Marine said in a social media post.

Singapore: Pavilion Energy supplies LNG to TFG Marine dual-fuel bunker tanker

“Built and operated for TFG Marine by CBS Ventures Pte Ltd, the 5,000 dwt MT Diligence has been designed to our technical specifications, including stringent safety considerations and has joined our supply fleet this year in the major bunkering centre of Singapore.”

Manifold Times previously reported TFG Marine christening the first LNG dual-fuel bunker tanker to join its fleet.  

The newbuild vessel, MT Diligence, has joined the company's low sulphur fuel oil and biofuel supply operations in the major bunkering centre of Singapore.

Related: LNG dual-fuel bunker tanker “MT Diligence” joins TFG Marine fleet for Singapore ops

 

Photo credit: TFG Marine
Published: 21 May 2024

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Methanol

Argus Media: Low-carbon methanol costly EU bunker fuel option

Despite GHG emissions savings that low-carbon methanol provides, it cannot currently compete on price with grey methanol or conventional marine fuels.

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Ship owners are ordering new vessels equipped with methanol-burning capabilities, largely in response to tightening carbon emissions regulations in Europe. But despite the greenhouse gas (GHG) emissions savings that low-carbon methanol provides, it cannot currently compete on price with grey methanol or conventional marine fuels.

17 May 2024

Ship owners operate 33 methanol-fueled vessels today and have another 29 on order through the end of the year, according to vessel classification society DNV. All 62 vessels are oil and chemical tankers.

DNV expects a total of 281 methanol-fueled vessels by 2028, of which 165 will be container ships, 19 bulk carrier and 14 car carrier vessels. Argus Consulting expects an even bigger build-out, with more than 300 methanol-fueled vessels by 2028.

A methanol configured dual-fuel vessel has the option to burn conventional marine fuel or any type of methanol: grey or low-carbon.

Grey methanol is made from natural gas or coal. Low-carbon methanol includes biomethanol, made of sustainable biomass, and e-methanol, produced by combining green hydrogen and captured carbon dioxide.

The fuel-switching capabilities of the dual-fuel vessels provide ship owners with a natural price hedge. When methanol prices are lower than conventional bunkers the ship owner can burn methanol, and vice versa.

Methanol, with its zero-sulphur emissions, is advantageous in emission control areas (ECAs), such as the US and Canadian territorial waters. In ECAs, the marine fuel sulphur content is capped at 0.1pc, and ship owners can burn methanol instead of 0.1pc sulphur maximum marine gasoil (MGO). In the US Gulf coast, the grey methanol discount to MGO was $23/t MGO-equivalent average in the first half of May. The grey methanol discount averaged $162/t MGOe for all of 2023.

Starting this year, ship owners travelling within, in and out of European territorial waters are required to pay for 40pc of their CO2 emissions through the EU emissions trading system. Next year, ship owners will be required to pay for 70pc of their CO2 emissions. Separately, ship owners will have to reduce their vessels' lifecycle GHG intensities, starting in 2025 with a 2pc reduction and gradually increasing to 80pc by 2050, from a 2020 baseline.

The penalty for exceeding the GHG emission intensity is set by the EU at €2,400/t ($2,596/t) of very low-sulplhur fuel oil equivalent. Even though these regulations apply to EU territorial waters, they affect ship owners travelling between the US and Europe.

Despite the lack of sulphur emissions, grey methanol generates CO2. With CO2 marine fuel shipping regulations tightening, ship owners have turned their sights to low-carbon methanol.

But US Gulf coast low-carbon methanol was priced at $2,317/t MGOe in the first half of May, nearly triple the outright price of MGO at $785/t. Factoring in the cost of 70pc of CO2 emissions and the GHG intensity penalty, the US Gulf coast MGO would rise to about $857/t. At this MGO level, the US Gulf coast low-carbon methanol would be 2.7 times the price of MGO. By comparison, grey methanol with added CO2 emissions cost would be around $962/t, or 1.1 times the price of MGO.

To mitigate the high low-carbon methanol costs, some ship owners have been eyeing long-term agreements with suppliers to lock in product availabilities and cheaper prices available on the spot market.

Danish container ship owner Maersk has led the way, entering in low-carbon methanol production agreements in the US with Proman, Orsted, Carbon Sink, and SunGas Renewables. These are slated to come on line in 2025-27. Global upcoming low-carbon methanol projects are expected to produce 16mn t by 2027, according to industry trade association the Methanol Institute, up from two years ago when the institute was tracking projects with total capacity of 8mn t by 2027.

By Stefka Wechsler

 

Photo credit and source: Argus Media
Published: 21 May 2024

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Bunker Fuel

Bunker Holding, 123Carbon and BV launch carbon insetting solution

Bunker Holding has concluded its first blockchain-powered carbon insetting operation in a new partnership with 123Carbon and Bureau Veritas.

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Bunker Holding:Bunker tanker vessel supplying marine fuel to a cargo ship at anchorage

Marine fuel supplier Bunker Holding on Thursday (16 May) said it has concluded its first blockchain-powered carbon insetting operation in a new partnership with carbon insetting experts 123Carbon and Bureau Veritas.

This insetting partnership allows for the additional cost delivery of lower carbon, alternative marine fuels – such as sustainable biofuel – to be shared by carriers, freight forwarders, and cargo owners within the same value chain; allocated based on a globally accepted book and claim methodology.

“We’re excited to work with 123Carbon and Bureau Veritas, as we believe in complete transparency of how insets are created and transferred. Insetting is not new, but one concern within the maritime sector is under what circumstances alternative fuels are supplied, and who owns the emissions reductions,” said Tobias Troye, Head of Carbon Solutions at Bunker Holding.

By combining its alternative fuel supply expertise, its global access to low-carbon fuels and extensive carrier network with 123Carbon’s secure platform, Bunker Holding said it can offer carriers, freight forwarders, and cargo owners complete transparency and assurance regarding how their insets reduce maritime emissions.

“We are delighted that Bunker Holding not only uses our advanced platform for the issuance of the certificates, but has also chosen a fully branded solution to deliver the certificates in a secure environment to its customers,” said Jeroen van Heiningen, Managing Director of 123Carbon.

Working with 123Carbon’s blockchain-based insetting platform, and Bureau Veritas as third-party assurance partner to verify the fuel intervention and all related documentation, ensures that all insets are issued according to Smart Freight Centre’s Book & Claim methodology and 123Carbon’s assurance protocol.

To facilitate the intervention, Bunker Holding connected three different parties: the cargo owner, who wishes to reduce their scope 3 emissions and is willing to pay the “green premium”, the ship operator, to decarbonise its vessels through the use of biofuels, and the biofuel supplier, to deliver safe, high-quality low-carbon fuels. Due to the commitment from the cargo owner to purchase scope 3 insets, Bunker Holding was able to offer the biofuel at a more competitive cost to the ship operator, enabling the carrier to use biofuels instead of conventional fossil fuels.

“As a group, we are operationalising our decarbonisation strategy, and one key component has been to develop our alternative marine fuel supply capabilities, among others by securing fully certified biofuel availability in more than 100 ports around the world. The relative higher cost of alternative fuels may still prevent carriers to bunker it. However, carbon insetting helps bridge that gap, as it enables cost sharing and also sends an important demand signal to alternative fuel producers to scale up production,” said Valerie Ahrens, Senior Director of New Fuels and Carbon Markets at Bunker Holding.

 

Photo credit: Bunker Holding
Published: 21 May 2024

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