Global energy analysis organisation International Energy Agency (IEA) believes the upcoming sulphur cap for marine fuel will impose a “huge” challenge for stakeholders.
“One of the biggest and most pressing issues is the implementation of major changes to marine fuel specifications mandated by the International Maritime Organisation (IMO),” it said in the Oil 2018 – Analysis and Forecasts to 2023 report.
“The new rules loom ever closer and the maritime and refining industries face a huge challenge to implement them.”
IEA was unclear how successful implementation of the 0.5% global sulphur cap for marine fuel will turn out against a background of current increasing demand for non-marine gasoil grades.
“The new regulations will cause a massive switch out of high sulphur fuel oil demand and into marine gasoil or a new very low sulphur fuel oil,” it says.
“The total demand for oil products will not be dramatically altered, but the impact of the changes on the product mix is a major uncertainty in our forecast.”
Meanwhile, IEA notes of the journey to 2023 to be starting from a "relatively comfortable" place.
“An overhang in global oil stocks has all but disappeared and oil prices have recovered,” it explains.
“The oil price rally has rewarded those taking part in output cuts and has also unleashed a new wave of growth from the United States.
“Coupled with gains from Brazil, Canada, and Norway, oil markets now look adequately supplied through 2020. There is no call for complacency, however, and more investment is needed now to ensure secure supplies to meet robust demand growth.”
Published: 6 March, 2018
‘Generally, you have to heat VLSFOs to prevent waxing, but the more you heat them the lower the shelf life is going to be,’ Dr Malcolm Cooper, the Group Managing Director of VPS, tells Manifold Times.
Volume of bunkers sold at the Atlantic Entrance jumped 48% to 111,235 mt in April on year.
GCMS techniques show fuel samples all contained significant levels of chlorinated hydrocarbon compounds.
Supply of HSFO380 is tight in Singapore, Fujairah, Zhoushan and parts of the Mediterranean, while VLSFO and LSMGO grades are ample across most global bunkering hubs.
‘The blindness surrounding shipping’s pathway to decarbonisation via LNG, bioLNG and in the longer-term hydrogen-derived (synthetic) LNG is alarming.’
Identified 105 instances of off-spec bunker fuel samples, representing an increase from 61 cases in 1H March.
Buyers can nominate deliveries on platform and plan operations together with suppliers following ‘one single truth’ concept with all players aware of what has been agreed when and by whom, says DNV spokesman.
Rotterdam’s intention to mandate the usage of MFMs goes down well with licensed bunker supplier VT Group; MFM providers supportive of move but stressed continuous monitoring is needed for optimum performance.
Cost of alternative bunker fuels, bunker operations and technology advancement are some considerations to be examined by the maritime industry, says Neo, director of SDE International Pte Ltd.
Kim Hyung Joon and Han Donghoon were planning to join the Singapore entities of Hartree Group - either Hartree Partners Singapore Pte Ltd or Hartree Marine Fuels - in October, discovered management.
‘When you think of Helmsman on the next occasion, think of us as lawyers with expertise in various fields. Come to us before a problem develops. It’s the process that matters,’ says Tang Chong Jun, Executive Director.
Bernard Chew was a former shareholder of MB Marine and was an authorised signatory of the company’s cheques at the material time, according to court documents obtained by Manifold Times.
