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Refinitive predicts ‘stronger’ near/medium outlook for fuel oil

‘We expect that cargo replenishments will not keep pace with outgoing fuel,’ says Director of Oil Research.

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Singapore bunkering publication Manifold Times was present at the ‘Low Sulphur Bunker Fuel 2020: Assessing Readiness of Malaysian Ports to Become Leading Bunkering Hub’ conference held in Kuala Lumpur on Tuesday (20 August):

Prices of low sulphur fuel oil (LSFO) will are expected to rise after in the near to medium period after IMO 2020, suggests the Director of Oil Research at financial markets and infrastructure data provider Refinitive.

Yaw Yan Chong, was delivering a speech at the ‘Low Sulphur Bunker Fuel 2020: Assessing Readiness of Malaysian Ports to Become Leading Bunkering Hub’ conference in Kuala Lumpur on Tuesday (20 August) when he forecasted the development.

“There isn’t enough production of low-sulphur fuel oil globally to meet the 11-12 million metric tonne (mt) per month demand,” he told delegates.

“In all, production of low-sulphur fuel oil, including volumes consumed by the sulphur emission control areas (SECAs) and the new capacities, are estimated at around 3.5 million mt per month, come 2020. Another about 2 million mt per month of demand will remain as high sulphur fuel oil consumed by vessels that have installed scrubbers, at the start of 2020.

“There is still a balance of over 5 million mt per month that must be met.”

In his presentation, Yaw noted several oil majors including ExxonMobil, Shell, BP, Sinopec and Total already declaring their ability to offer IMO-compliant fuel.

Other majors, including PetroChina, Uniper Energy, SK Innovation, and Vitol are respectively making preparations for IMO 2020.

In total, Asia is expected an estimated 2.33 million mt per month of new LSFO production capacity heading into IMO 2020.

“There can be potentially more LSFO supply coming from other refiners, notably the Chinese, and the possibility of using more heavy low-sulphur crudes, e.g. the Australian grades, as blendstock,” he highlights.

“Other Asian refiners, notably Taiwan’s Formosa and South Korea’s S-Oil have also just started offering LSFO cargoes.

“But, we believe that the market will have to turn to the gasoil pool, whether as pure gasoil, or some gasoil-fuel oil blend, to meet a significant portion of its demand.”

To date, there are at least 12 VLCCs and an even larger ULCC, all function as floating storages carrying LSFO, with a combined capacity of over 3.5 million mt located off-Singapore port.

“With the large inventories already in storage leading up to Jan 1, 2020, and more to come before the deadline, we expect there to be no shortage of LSFO on the immediate aftermath of IMO 2020 in Asia, and there might even be an oversupply situation in the short term,” explains Yaw.

“However, given the huge volume gap between global bunker demand and LSFO production globally, we expect that cargo replenishments will not keep pace with outgoing fuel.

“The market could become tighter very quickly, leading to a scramble for the limited LSFO barrels.

“As such, we are expecting a bullish outlook for fuel oil in the near to medium.”

The ‘Low Sulphur Bunker Fuel 2020: Assessing Readiness of Malaysian Ports to Become Leading Bunkering Hub’ conference is hosted by Port Klang and organised by the Maritime Institute of Malaysia.

Photo credit: Manifold Times
Published: 27 August, 2019

 

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Winding up

Singapore: High Court to hear Norvic Shipping Asia winding up application on 31 July

Application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to Government Gazette notice.

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An application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to a Tuesday (21 July) notice on the Government Gazette.

It noted the winding up application is directed to be heard before the Judge sitting in the General Division of the High Court at 10am on 31 July.

Any creditor or contributory of the company desiring to support or oppose the making of an order on the winding up application may appear at the time of hearing by himself or his counsel for that purpose.

A copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the solicitors of the applicant’s, Oon & Bazul LLC, on payment of the regulated charge for the same.

The Applicant’s address is Hiridostraat 5, Gebouw Prismatrium, 1101CW Amsterdam, The Netherlands.

The Applicant’s solicitors are Oon & Bazul LLC of 103 Penang Rd, #04-04/05/06 Singapore 238467. 

Queries on the winding up application may be directed to the following email addresses: [email protected] and [email protected].

 

Photo credit: Manifold Times
Published: 22 July, 2026

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Methanol

World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Operation involved the delivery of approximately 2,800 MT of green methanol to “Arctic Tern” via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel “M/V Hai Gang Zhi Yuan”.

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World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Marine fuel provider World Fuel on Tuesday (21 July) said it successfully completed the first green methanol bunkering of M/V Arctic Tern, with EUKOR Car Carriers and SIPG Energy at the Port of Shanghai. 

Arctic Tern is the first vessel in the new Shaper Class series of car carriers. 

The operation involved the delivery of approximately 2,800 MT of green methanol to Arctic Tern via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel M/V Hai Gang Zhi Yuan, the largest vessel of its kind in operation. 

The bunkering operation was carried out at Haitong Terminal, Waigaoqiao Port Area, Shanghai Port, with cargo handling operations conducted simultaneously during bunkering.

This marks EUKOR Car Carriers’ first green methanol operation and the first time Arctic Tern has bunkered methanol since its delivery on 9 July. The operation marked the first bunkering at Shanghai Port of green methanol produced locally in Shanghai for an international PCTC operator. 

It also demonstrated the city’s integrated green methanol value chain, spanning local production, storage and bunkering, and established a replicable “Shanghai Model” for green methanol supply.

World Fuel arranged the supply and delivery of the fuel on behalf of EUKOR Car Carriers, working with SIPG Energy as the physical supplier at the Port of Shanghai.

The green methanol supplied was produced from municipal solid waste, ISCC-EU certified, and had a carbon intensity value below 25 gCO₂e/MJ.

Arctic Tern is the first of fourteen Shaper Class vessels ordered by Wallenius Wilhelmsen. With a capacity of 9,300 car equivalent units and methanol dual-fuel capability, the vessel will be operated by EUKOR Car Carriers, jointly owned by Wallenius Wilhelmsen and Hyundai Motor Group. Following her first green methanol bunkering, Arctic Tern will continue her maiden voyage from Asia to Europe.

Xavier Leroi, COO Shipping Services at Wallenius Wilhelmsen and CEO of EUKOR Car Carriers, said: “Completing Arctic Tern’s first green methanol bunkering shortly after delivery is a significant milestone towards our decarbonisation ambition for both EUKOR Car Carriers and Wallenius Wilhelmsen. It demonstrates how investments in next-generation vessel technology and fuel flexibility are being translated into real-world operations. 

“This achievement reflects the strong collaboration between all parties involved. Together, we have shown how partnerships across the maritime value chain can help make lower-emission fuels available and operationally viable at scale.”

Mark Tamsitt, SVP Global Marine Sales at World Fuel, said, “The first bunkering event with a new fuel is a significant moment for any shipowner, and our role is to make it as seamless as possible. By connecting EUKOR Car Carriers with SIPG Energy’s proven green methanol capability at the Port of Shanghai, we were able to deliver on reliable supply, fuel quality, and safe processes. As more of our customers bring methanol dual-fuel tonnage into service, we are committed to being the partner that makes these kinds of operations routine.”

Mr. Zhang Da, General Manager of SIPG Energy, said, “Welcoming Arctic Tern to the Port of Shanghai for her first green methanol bunkering demonstrates the strength and maturity of our supply capability. Building on our well-established methanol ship-to-ship bunkering services for container vessels, we have already extended such services to pure car and truck carriers (PCTCs). This bunkering sets a new record for the largest single SIMOPs green methanol bunkering for PCTCs in China, marking another step in building Shanghai’s position as a global green energy hub for international shipping.”

This operation follows Wallenius Wilhelmsen’s announcement on 9 July that Arctic Tern would complete her first methanol bunkering shortly after delivery. The vessel entered service on routes between Asia and Europe immediately following handover from China Merchants Jinling Shipyard in Nanjing.

 

Photo credit: World Fuel
Published: 22 July, 2026

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Ammonia

HPA and MB Energy develop safety concept for STS ammonia bunkering

HPA says the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

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HPA and MB Energy develop safety concept for STS ammonia bunkering

The Hamburg Port Authority (HPA) and integrated energy company MB Energy on Tuesday (21 July) said they have completed a comprehensive risk analysis and developed a dedicated safety concept for ship-to-ship ammonia bunkering.

MB Energy said the analysis lays the groundwork for the safe introduction of ammonia as a future marine fuel.

“With our planned ammonia import terminal in Hamburg-Blumensand, MB Energy intends to provide the reliable land side supply infrastructure needed to support this transition across northern German ports,” it said in a social media post. 

Mabanaft Group was renamed to MB Energy last year and merged over 50 existing brands under one identity. 

Separately, HPA said the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

“The focus is in particular on container ships, cruise ships as well as RoRo and ConRo (Container/RoRo) ships,” it said. 

“We expect ammonia to establish itself as an alternative marine marine fuel in the coming years. With our preparatory work, we are already creating the conditions to welcome the first ammonia-powered ships in Hamburg and to bunker them safely.:

HPA added that the import terminal for ammonia planned by MB Energy from 2029 will make a decisive contribution to ensuring the reliable availability of ammonia as a bunker fuel in northern German ports in the long term. 

“The use of an ammonia bunker barge is considered a possible addition to the landside infrastructure to enable ship bunkering in the port and beyond in the future,” it said.

Related: Mabanaft Group renames as MB Energy, merging over 50 brands under one identity

 

Photo credit: Hamburg Port Authority
Published: 22 July, 2026

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