The world's second-largest shipping line in terms of container vessel capacity Mediterranean Shipping Company (MSC) Monday introduced a worldwide temporary emergency bunker surcharge on all ocean and land-based cargo carriage with immediate effect.
Bunker fuel prices are up more than 30% in 2018 and almost 70% since June 2017, while prices of marine fuel in Europe exceeded $442 per metric tonne (pmt) last week, says MSC.
“The continued surge in bunker prices has greatly impacted the operating environment for container shipping lines,” it explains.
“With crude oil today hovering around $80 a barrel – the highest since 2014 – the situation is no longer sustainable without emergency action.
“This last-resort measure is essential to ensure that we navigate these challenging economic conditions in a steady and sustainable way and continue to provide a high quality of service to all our customers.”
The company says it will continue to evaluate longer-term strategies to help ease the situation.
Photo credit: Mediterranean Shipping Company
Published: 22 May, 2018
Royal Caribbean Cruises honours Russian bunkering firm as ‘Supplier of 2017’ for services rendered.
Global Energy Trading and subsidiary of Mercuria Energy Trading bought the vessels at a Singapore auction.
U.S. Claims Register Summary recorded a total USD 833 million claim from a total 180 creditors against O.W. Bunker USA, according to the creditor list seen by Singapore bunkering publication Manifold Times.
Creditors having claim against the ship or the proceeds of the sale should accordingly follow up with relevant parties before the deadline.
JV company aims to actively contribute to development of the fast growing bunker market, says spokesman.
E-fuels offer a way to expand the carbon-neutral transport fuel pool beyond biomass-based renewable fuels to replace fossil fuels in existing internal combustion engines used in ships.
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.
