News Round Up: 20 July 2020

News Round Up: 20 July 2020

Japanese companies start ‘Ship Carbon Recycling WG’

Nine Japanese companies have started the Ship Carbon Recycling Working Group (WG) formed within Japan’s carbon capture and reuse study group, and has held its first meeting.

https://www.drybulkmagazine.com/shipping/16072020/japanese-companies-start-ship-carbon-recycling-wg/

Hull Vane Sees 24% Fuel Consumption Saving From Small Passenger Vessel Retrofit

The company recently installed a bulbous bow and one of its fuel-saving fixed foils to a ship in Switzerland.

https://shipandbunker.com/news/emea/162238-hull-vane-sees-24-fuel-consumption-saving-from-small-passenger-vessel-retrofit

Box Shipping Company Meets 2030 CO2 Target

Efficiency drive by Danaos gives CO2 reduction of 41% in 2019 compared to 2008.

https://shipandbunker.com/news/emea/802684-box-shipping-company-meets-2030-co2-target

News Round Up: 10 July 2020

News Round Up: 10 July 2020

UN secretary-general calls for shipping bailouts to be tied to the Paris Agreement- Splash247

“Bailout support to sectors such as industry, aviation and shipping should be conditioned on alignment with the goals of the Paris Agreement,” said Guterres.
https://splash247.com/un-secretary-general-calls-for-shipping-bailouts-to-be-tied-to-the-paris-agreement/

Damen delivers five zero emissions propulsion ferries for the Danish market- Riviera

Damen Shipyards Group has delivered five 2306 E3 ferries to Arriva Denmark in Copenhagen. Arriva will operate the vessels on behalf of Danish public transport agency Movia.
https://www.rivieramm.com/news-content-hub/damen-delivers-five-zero-emissions-propulsion-ferries-for-the-danish-market-60112

BP-Sinopec bunker venture to start fuel oil deliveries to Fujairah: source- Hellenic Shipping News

BP and Sinopec had said when the venture was announced in May 2015 that they plan to serve ports in Singapore, Fujairah, Antwerp, Rotterdam and Amsterdam, and China’s Tianjin, Qingdao, Shanghai, Ningbo and Shenzhen.
https://www.hellenicshippingnews.com/bp-sinopec-bunker-venture-to-start-fuel-oil-deliveries-to-fujairah-source/

Petrobras replan refinery sets new VLSFO monthly production record- BunkerSpot

The Replan facility, which is located in the state of São Paulo, produced 148,000 cubic metres (cbm) of VLSFO in June, compared to 123,000 cbm in May.
https://www.bunkerspot.com/americas/50890-americas-petrobras-replan-refinery-sets-new-vlsfo-monthly-production-record

News Update 6 July 2020

News Update 6 July 2020

NEWS UPDATE 6 JULY – 4 Great stories to read

FUJAIRAH DATA: Refined product stocks drop most since April to seven-week low – Bunkerworld

“Economies are picking up so the consumption is there,” said Malek Azizeh, commercial director of Fujairah Oil Terminal. https://www.bunkerworld.com/news/157422

Idemitsu Plant Raises VSLFO Output – Ship and Bunker

Demand for high sulfur fuel oil from Japanese ship operators remains small post IMO2020

https://shipandbunker.com/news/apac/171237-idemitsu-plant-raises-vslfo-outputhttps://shipandbunker.com/news/apac/171237-idemitsu-plant-raises-vslfo-output

South Korea declares local SECAs – Ship Insight and Dry Bulk

The Republic of Korea (South Korea) is the latest country to announce the designation of national sulfur emission control areas, which will enter into force on 1 September 2020.

The national South Korean sulfur restrictions will apply to the following six ports, and a national sulphur emission control area has been defined for each port

https://shipinsight.com/articles/south-korea-declares-local-secas

https://www.drybulkmagazine.com/shipping/03072020/republic-of-korea-implements-national-sulfur-emission-control-area/

RPT-Marine fuel market facing tougher Q3 as supply rises

* VLSFO market weighed down by rising supplies, weak demand

* Global fuel oil supply to increase 620,000 bpd in Q3 -analyst

* Bunker demand to remain depressed in Q3

https://www.reuters.com/article/global-oil-shipping-idUSL4N2EA2FU

Hong Kong Shipping Gazette  News hksg.com Read the full article below:

Cosco about to complete planned scrubber installations

CHINA’s Cosco Shipping Lines (Cosco) is about to complete scrubber installations, a plan that was announced in 2019.

Three vessels owned by China Shipping Container Lines (CSCL) before Cosco acquired the group as part of the government’s move to consolidate state-owned companies, CSCL Mercury, CSCL Jupiter and CSCL Saturn, 14,000 TEU sister container ships, arrived in the Liuheng yard of Cosco Shipping Heavy Industry (Zhoushan), on June 14, 2020.

The ships are the last of 10 vessels that Cosco earmarked in 2019 for scrubber retrofits, which usually take 15 to 30 days, depending on the size of the vessel, reports Container News, Jacksonville.

The scrubbers are provided by Finnish firm Valmet, which has four production units and three service centres in China. Scrubber-fitted ships can continue burning, cheaper, high-sulphur fuel oil and comply with the International Maritime Organization’s emission regulations that became effective this year.

The scrubber system delivery for Cosco Shipping Lines will include a tailor-made open-loop scrubber system for main engine and generator engines including auxiliary systems and automation.

In its 2019 financial report, the shipping line said that as at the end of the year, scrubber installations were completed on seven of the ships. The retrofitting schedules were planned according to the route and refuelling ports of the ships, as Zhoushan is a major bunkering port in China.

NEWS ROUND UP 29 JUNE

NEWS ROUND UP 29 JUNE

CHEM Europe: Development of sustainable marine fuels

In an EU-funded research project, an international consortium aims to develop new production methods for sustainable marine fuels to replace heavy fuel oils in shipping. The use of heavy fuel oils (HFOs) contributes to global warming due to the fossil origin of these fuels and, moreover, generating non-negligible emissions of pollutants such as sulphur oxides. The IDEALFUEL project aims to create sustainable alternatives by developing new efficient and low-cost methods to produce low-sulphur heavy fuel oils from wood-based non-food biomass. OWI Science for Fuels gGmbH and TEC4FUELS GmbH are involved in the project as research partners.

https://www.chemeurope.com/en/news/1166902/development-of-sustainable-marine-fuels.html

 

Hellenic Shipping News: Mounting transport fuel stocks add new twist to VLSFO specs

Shifting fundamentals in European transport fuel markets have affected operational requirements for shipowners using VLSFO, as blenders alter feedstocks to make their economics work amid the coronavirus pandemic while the bunkering industry grapples with this year’s lower sulfur content rules.

https://www.hellenicshippingnews.com/mounting-transport-fuel-stocks-add-new-twist-to-vlsfo-specs/

 

TheStar: Shippers face financial burden

KUALA LUMPUR: The delays in collecting cargoes during the movement control order (MCO) period has resulted in accumulated charges, causing financial burden to local shippers and manufacturers, says Malaysian National Shippers’ Council (MNSC) chairman Datuk Dr Andy Seo Kian Haw.

https://www.thestar.com.my/business/business-news/2020/06/29/shippers-face-financial-burden

 

Splash 247: China launches low- sulphur fuel futures

China has started the trading of the futures of low-sulphur fuel on the Shanghai International Energy Exchange from today.

Prior to the commencement of official trading, the exchange conducted two trials on June 13 and June 21 including daily trading and settlement.

The first day of trading commenced with a benchmark price of RMB2,368 ($335) per ton for monthly delivery contracts from January to June 2021 and the price has so far surged by around 13 % on the Shanghai International Energy Exchange.

https://splash247.com/china-launches-low-sulphur-fuel-oil-futures/?utm_source=dlvr.it&utm_medium=twitter

 

Indepthnews: Concerted Efforts to Offset Damage Caused by Arctic Shipping

REYKJAVIK (IDN) – The polar region located at the northernmost part of Earth is warming at an accelerating rate and as sea ice continues to melt away, Arctic waters are becoming increasingly navigable to vessels carrying heavy fuel oil (HFO). HFO, which is one of the world’s dirtiest fuels, is not only virtually impossible to clean up in the event of a spill, but also produces higher levels of air and climate pollutants than other marine fuels.

Aware of the severe risks that heavy fuel oil poses to polar environments, the international shipping community has already banned its use in the Antarctic. But, as experts point out, it is now time to provide similar protection to the Arctic – an ecosystem that is equally vulnerable to disturbance and pollution.

Until recently, 76 per cent of the fuel used in Arctic shipping was HFO. Ships typically used heavy fuel oil with a sulphur concentration of 2.7 per cent. But the International Maritime Organisation (IMO) has ruled that from January 1, 2020, the maximum sulphur content of ships’ fuel oil would be 0.5 per cent instead of 3.5 per cent. Subsequently, fewer ships are now using HFO.

https://www.indepthnews.net/index.php/sustainability/oceans-seas-and-marine-resources/3649-concerted-efforts-to-offset-damage-caused-by-arctic-shipping

 

VPO: Stena Bulk presents low emission tanker prototype

Stena Bulk has presented a prototype of the next-generation product and chemical tanker, the IMOFlexMAX, which will reportedly reduce greenhouse gas emissions by more than 25 per cent compared to current product tankers.

https://vpoglobal.com/2020/06/22/stena-bulk-presents-low-emission-tanker-prototype/

 

Ship and Bunker: Chinese VLSFO Exports dropped in May

Exports of very low sulphur fuel oil (VLSFO) from China dropped significantly last month according to news agency Reuters, in signs of a continuing impact of the Covid-19 pandemic on global shipping demand.

https://shipandbunker.com/news/apac/720042-chinese-vlsfo-exports-dropped-in-may

 

Ship and Bunker: OPEC+ Compliance May Deliver $500/MT VLSFO by End of 2021

Full compliance by members of the oil producer coalition OPEC+ to its output cuts deal could see Very Low Sulphur Fuel Oil (VLSFO) prices climb above $500/MT again by late 2021, according to bunker trading company Integr8 Fuels.

https://shipandbunker.com/news/world/556345-opec-compliance-may-deliver-500mt-vlsfo-by-end-of-2021

 

Ship and Bunker: Istanbul Market Faring Well Despite 8% Drop in Bunker Sales

Local bunker suppliers in Istanbul have sounded a positive tone despite a drop in marine fuel sales following measures put in place to address the COVID-19 pandemic.

https://shipandbunker.com/news/emea/948043-istanbul-market-faring-well-despite-8-drop-in-bunker-sales

 

Ship and Bunker: Pacific Green Retreats From Scrubber Sales as HSFO Discount Remains Narrow

Technology company Pacific Green has decided to scale back its presence in the marine scrubber business, in the latest sign of weakening prospects for the emission cleaning technology.

https://shipandbunker.com/news/emea/135150-pacific-green-retreats-from-scrubber-sales-as-hsfo-discount-remains-narrow

 

The installation of 700 scrubbers was cancelled due to Covid

According to Clarksons, many works entrusted to shipyards were cancelled due to the pandemic and to the drop in the price gap between traditional bunker oil and low-sulphur fuel oil

http://www.ship2shore.it/en/shipping/the-installation-of-700-scrubbers-was-cancelled-due-to-covid_74446.htm

 

Fujairah refiners mull switch from LSFO to light distillates as profitability plunges – traders

Key low sulfur fuel oil refineries in Fujairah belonging to Uniper and Vitol may switch to producing more profitable light distillates or mothball their refineries altogether if demand for LSFO remains depressed and prices unprofitable, traders in Fujairah said week ending June 26.

https://www.bunkerworld.com/news/157396

 

Shippingwatch: Bunker company predicts significant price increase for low-sulfur oil in 2021

If the Opec+ member states continue to comply with their agreement to lower oil production, the price of low-sulfur fuel oil could surge to over USD 500 by the end of 2020, assesses bunker company.

https://shippingwatch.com/suppliers/article12251702.ece

 

Motorship: KEEPING ENGINES RUNNING AMID 2020 FUEL CHALLENGES

Early reports on the variable quality of very low-sulphur fuel oils confirm research highlighting the need for robust cylinder lubrication when using the new fuel blends.

Looking back on the first three month since the implementation of IMO’s global sulphur cap, it seems that concerns over the variability of new very low sulphur fuel oil (VLSFO) blends were justified. To cite just one example, Lloyd’s Register’s Fuel Oil Bunker Analysis and Advisory Service (FOBAS) has issued three alerts on excessive sediments in VLSFO. FOBAS’ analysis shows that five percent of all VLSFO samples taken in Singapore in the first two months of 2020 had high sediment volumes. In Rotterdam the figure rises to 23%.

https://www.motorship.com/news101/fuels-and-oils/keeping-engines-running-amid-2020-fuel-challenges

 

Bunker price spread keeps scrubber economics unfavourable  By Michelle Wiese Bockmann

The price spreads being seen have extended the payback period for a scrubber capesize bulk carrier beyond five years, and more than three years for a very large crude carrier

The difference in price between high-sulphur fuel oil and the compliant 0.5% sulphur fuel oil is weakening the economic argument for scrubbers.

https://lloydslist.maritimeintelligence.informa.com/LL1132783/Bunker-price-spread-keeps-scrubber-economics-unfavourable

 

Hong Kong Shipping Gazette News .hksg.com

Article in full below.

TS Lines in search of new ships as Q1 profits soar 170pc to US$21.5m

CHAIRMAN of TS Lines, Chen Te Shen says controlling costs and services additions on routes with growing demand have led to the Taiwan carrier’s 170 per cent year-on-year increase in profits.

The Taiwanese operator of the intra-Asia carrier reported profits of TWD650 million (US$21.49 million), achieved by responding to challenging conditions caused by Covid-19 with the company withdrawing from the US trades and concentrating on operating intra-Asian and Asia-Australia routes. Mr Chen said the company further reduced costs by redelivering chartered vessels that were deployed on withdrawn services.

The leased fleet increased the flexibility of the company’s operations. While owning a certain percentage of newly built own ships, with high fuel efficiency, allowed the company to reduce costs further, reports Container News, Jacksonville.

Mr Chen said that there is a silver lining in the pandemic, as oil prices collapsed to an 18-year low, resulting in low-sulphur fuel oil becoming cheaper. This meant compliance with the International Maritime Organization’s emissions cap was more affordable.

“Oil prices fell sharply in March. As the fuel surcharge was calculated based on the oil price of the previous quarter, when our actual bunker costs fell, the company’s profit increased,” explained Mr Chen.

Cargoes to and from India and the Philippines declined during Q2, but TS Lines added services to Thailand and Vietnam, where cargo demand remained strong. Consequently, the carrier’s operating profit for Q2 2020 is forecast to be TWD700 million.

The chairman said: “We’ll continue to acquire vessels and commission newbuildings. Three years ago, we aimed to own five vessels. At the time, we operated 36 vessels. Today, we are operating 46 ships, including 12 owned vessels. Another three are under construction. Today’s newbuildings are fuel-efficient, but it takes two years for a vessel to be built. If there are suitable pre-owned ships in the market, we’ll consider second-hand purchases.”

 

BTJ 2/20 – Green loans by the book. How to embed environmental care in ship financing by Amy Lindemann, Senior Associate, Campbell Johnston Clark

The IMO 0.5% sulphur cap is now in force globally, while the Poseidon Principles, a banking code aimed at integrating climate considerations into lending decisions, have been widely adopted by many of the major ship finance banks.

Let us then explore the implications for the evolution of loan and finance lease documentation in shipping, as well as for the commercial elements of deals.

http://baltictransportjournal.com/index.php?utm_source=freshmail&utm_medium=email&utm_campaign=BTJ_e-newsletter&id=110

 

ICE LSGO futures net speculative length rises 6,045 lots on week

Speculative net long positions in ICE low sulfur gasoil futures rose 6,045 contracts to 34,899 in the week to June 16, according to ICE data June 22.

https://www.bunkerworld.com/news/157342

 

News Round Up 08 June 2020

News Round Up 08 June 2020

22 Industry insights into bunkering and rates, interestingly not everyone agrees to how rates will fair over the coming months.

US Bunker Demand Drop “as Much as 30%” Globally, both larger ports and larger players fairing better than their smaller counterparts, says IBIA. Ship & Bunker read in full  https://shipandbunker.com/news/world/698867-us-bunker-demand-drop-as-much-as-30

Integr8 Notes Bunker Prices Declining Relative to Other Refined Products. While spreads between products may be heading back towards previous levels, the bunker market should not expect outright prices to do the same yet, according to Integr8. Ship & Bunker read in full https://shipandbunker.com/news/world/921684-integr8-notes-bunker-prices-declining-relative-to-other-refined-products

Oil Up On OPEC Hopes As Virus Declines and Demand Builds Dominate The Business Landscape. Russia even suggests a crude shortage could occur next month. Ship & Bunker read in full  https://shipandbunker.com/news/world/282194-oil-up-on-opec-hopes-as-virus-declines-and-demand-builds-dominate-the-business-landscape

High MGO bunker prices at Colombo pushes demand to Indian ports. “We are still receiving steady interest for MGO because of the lower prices in Mumbai,” said a bunker supplier in Mumbai. In Full https://www.bunkerworld.com/news/157194

Singapore gasoil/LSFO spread slides from 6-month high on returning marine fuel demand. The Singapore low sulfur swaps market has been gaining strength recently after a pretty quiet May when demand was muted, a trader said. https://www.bunkerworld.com/news/157193

Oil edges higher, but remains under pressure from OPEC+ uncertainty. Stepped-up stimulus efforts further supported demand outlooks, placing a floor under oil prices. In Full https://www.bunkerworld.com/news/157204

HES Wilhelmshaven Tank Terminal starts up LSFO unit. HES Wilhelmshaven Tank Terminal (HWTT), Germany’s largest independent liquid bulk terminal, has started up its low sulphur fuel oil (LSFO) production unit, with a capacity of 2.5m t/y. https://www.tankstoragemag.com/2020/06/04/hes-wilhelmshaven-tank-terminal-starts-up-lsfo-unit/

Thailand bunker supply tightens on run cuts, rise in domestic demand: sources. Bunker fuel supply in Thailand has tightened since refiners are cutting run rates, while domestic bunker demand is rising amid easing lockdowns, market sources said on June 3. In Full https://www.bunkerworld.com/news/157191

Bunkering body eyes spread of bunker licensing systems at hubs. Advocates of the system say it provides a more consistent standard of service. S & P Platts Blog post here https://www.bunkerworld.com/news/insight/157177/Tom-Washington/Bunkering-body-eyes-spread-of-bunker-licensing-systems-at-hubs

Crude prices creep higher on OPEC+ extension optimism. Russia has indicated it supports at least extending the reductions by one month through July. In Full https://www.bunkerworld.com/news/157180

Jiujiang Petrochemical joins Sinopec’s foray into producing 0.5% sulfur fuels in China. Domestic refiners continue to ramp up supply, lower China’s dependency on imported bunkers. https://www.bunkerworld.com/news/157168

Singapore’s LSFO-HSFO spread narrows to 1-month low amid tepid demand. More competitive bunker prices at other Asian ports remains key factor. More here https://www.bunkerworld.com/news/157170

Record Monthly Gains For Crude As Demand Continues To Grow Worldwide. But analysts warn that demand recovery will still be long and painful. Read in full  https://shipandbunker.com/news/world/520565-record-monthly-gains-for-crude-as-demand-continues-to-grow-worldwide

Indian Bunker Suppliers Lower Prices to Take On Sri Lanka. Over the past two weeks the discount for very low sulfur fuel oil at Mumbai to Colombo’s levels has widened by $21/mt, reaching $42/mt on Thursday, according to Ship & Bunker pricing. Ship & Bunker read in full https://shipandbunker.com/news/apac/873041-indian-bunker-suppliers-lower-prices-to-take-on-sri-lanka

Less Advance Warning Needed for Spot Bunker Sales as VLSFO Availability Improves. Integr8 is now allowing a lead time of around 8.5 days on average for VLSFO stems, down from 10 days at the start of the year but still much higher than the 5-6 days needed for high sulfur fuel oil (HSFO) in the past. Ship & Bunker read in full https://shipandbunker.com/news/world/541406-less-advance-warning-needed-for-spot-bunker-sales-as-vlsfo-availability-improves-integr8

Bunkerspot: EUROPE: HES Wilhelmshaven begins LSFO production
 
HES Wilhelmshaven Tank Terminal in Germany has begun the operation of its low sulphur fuel oil production unit, which has a nameplate capacity of around 2.5 million tons per year.
Fathom.world: NAMEPA launches maritime sustainability passport Award: Cargill gets first
On the occasion of World Oceans Day, NAMEPA (North American Marine Environment Protection Association) has launched the first known comprehensive CSR/ESG (Corporate Social Responsibility/Environment, Social, Governance) program designed expressly for the maritime industry, with its corresponding “Maritime Sustainability Passport” (MSP) awarded to companies, organizations and individuals who meet the requirements of the platform. The program encompasses the three pillars of CSR/ESG:  corporate governance, environment and the human element.  The launch was designed to coincide with World Oceans Day.
Fathom.world: “Realizing Zero-emission Waterborne Transport to the benefit of future generations”
A partnership comprising key players within the European waterborne transport sector, working together within the Waterborne Technology Platform 1 , propose a new Research and Innovation Partnership which over a period of seven years will implement R&I which will by 2030 demonstrate the feasibility of zero-emission waterborne transport applicable for all main services and ship types.
Fathom.world: Aker BP and Yxney Maritime to chase offshore emission cuts
Press Release: Maress will enable Aker BP to get a detailed insight into the fuel consumption and emissions from the fleet of advanced offshore vessels operating on the Norwegian Shelf. The Maress software provides a foundation for making informed and data-driven decisions on how to decarbonize operations.
VPO: LUKOIL’s ECA-compliant cylinder oil retains approval from major OEMs
LUKOIL’s NAVIGO MCL Ultra remains one of few low BN cylinder oils that still have a valid ‘No Objection Letter (NOL)’ with all major OEMs.
Recently a leading OEM withdrew their approvals for almost all low BN oils in the market, while NAVIGO MCL Ultra has retained its status, and continues to be fully approved by all other major OEMs.
Bunkerspot: GLOBAL: Total signs up to the Getting to Zero Coalition
‘As a major energy player, Total is already developing cleaner fuels for the maritime industry – we share the ambition to get to net-zero emissions by 2050, together with society, for our global operations,’ says Patrick Pouyanné, President and CEO of Total.
The Getting to Zero Coalition is aiming, through its members, at getting commercially viable deep-sea zero-emission vessels powered by zero-emission fuels into operation by 2030.
Total said that it would contribute to the Coalition’s focus areas, including fuels, marine lubricants, and ship zero-emission technologies.
Ship & Bunker: Container Line CMA GCM Continues to Waive Low Sulphur Surcharge
French container line CMA GCM will continue to waive its low Sulphur surcharge designed to pass on the higher fuel costs for very low Sulphur fuel oil (VLSFO) to its customers, the company said Wednesday.
News Round-Up – IMO sulphur regulations 2020

News Round-Up – IMO sulphur regulations 2020

20 April – 16 stories in our News Round-Up this week, including the effect of Covid-19, Scrubbers and Low Sulphur fuel the economics.

Sulfur Out, Scrubbers In

IMO 2020 marks the start of shipping’s journey toward sustainability. 

When it comes to environmental pollutants, carbon dioxide is public enemy number one. Yet new regulations from the International Maritime Organization (IMO) target a different toxic molecule: sulfur dioxide. 

https://www.maritime-executive.com/magazine/sulfur-out-scrubbers-in

Monitoring compliance on the backburner

The Covid-19 pandemic is masking the true picture of sulphur 2020 compliance, according to maritime consultancy Hill Dickinson.

https://www.heavyliftpfi.com/news/monitoring-compliance-on-the-backburner

GLOBAL: Teekay reiterates IMO 2020 compliance strategy; still says ‘no’ to scrubbers

In its 2019 Sustainability Report published this week, Teekay says, ‘The scrubber in its present form is not an optimal solution to deal with the stringent and growing limitations to sulphur emission.

https://www.bunkerspot.com/global/50334-global-teekay-reiterates-imo-2020-compliance-strategy-still-says-no-to-scrubbers

AMERICAS: NYC Ferry takes delivery of low-emission ferries

Hornblower’s NYC Ferry operation has taken delivery of two low-emission, Tier 4 compliance passenger ferries designed by Incat Crowther.

https://www.bunkerspot.com/americas/50331-americas-nyc-ferry-takes-delivery-of-low-emission-ferries

Diesel starts competing with jet, gasoline for floating storage in Europe

Ultra-low sulfur diesel is entering into competition with jet fuel and gasoline for floating storage as onland locations across Europe reach capacity amid a sharp fall in diesel demand and a very steep contango making the economics potentially workable, according to industry sources.

https://www.bunkerworld.com/news/156867

HSFO Med/North swap hits record low as Med demand weakens

The fuel oil swap product comparing high sulfur fuel oil values in Northwest Europe against its Mediterranean counterpart, known by many as the Med/North, hit record lows Wednesday as HSFO came under pressure from falling bunker demand.

https://www.bunkerworld.com/news/156874

Feb oil refining capacity use rises to 80.1%

Argentina’s use of oil refining capacity rose to 80.1% in February from 71.7% in the year-earlier month, as rising local crude production made more supplies available for processing, a government report showed Thursday.

https://www.bunkerworld.com/news/156871

How 2020 sulphur rules are turning out

One of the biggest concerns brought about by 2020 sulphur rules is unexpected – the availability of traditional fuels at traditional prices. There are also concerns about mixing non compatible fuels and decreased lubricity, writes Neil Graham, technical director of Royston.

http://www.tankeroperator.com/ViewNews.aspx?NewsID=11522

EU CO2 emissions fell 8.9% in 2019: initial EC data

Carbon dioxide emissions under the EU Emissions Trading System fell by an indicative 8.9% in 2019 from the previous year, according to an analysis of initial figures released by the European Commission Wednesday. https://www.bunkerworld.com/news/156857

Monjasa reaps fruit from IMO 2020 preparations

Danish bunker company Monjasa reported an improved business performance on the back of the sulphur cap regulation that entered into force on January 1, 2020, marking a global transition of ships to cleaner fuels. https://assafinaonline.com/maritime-news/assafina-news/offshore-2/monjasa-reaps-fruit-from-imo-2020

Major shippers like Lego and Ikea demand climate action after coronavirus

Some of the biggest customers of container lines, like Nestlé, Lego and Ikea, demand that politicians prioritize climate change mitigation once the corona pandemic is beaten. And not to do as they did after the financial crisis, the companies emphasize.

https://shippingwatch.com/carriers/Container/article12076940.ece

VLSFO Price Spreads Narrow Across Top Four Bunker Hubs

The VLSFO price spread between the most and the least expensive of the top four bunker ports narrowed by $7.50/mt to $23/mt on Monday.

https://shipandbunker.com/news/world/195161-vlsfo-price-spreads-narrow-across-top-four-bunker-hubs

Asia LSFO market draws clean fuel feedstock on flagging gasoline demand

The Asian low sulfur fuel oil market is drawing in feedstocks for blending into the marine fuel 0.5% pool that typically go into making clean fuels like gasoline, especially low sulfur vacuum gasoil, market sources said Tuesday.

https://www.bunkerworld.com/news/156846

Bunker fuel inspections expected to drop as coronavirus measures take center stage in shipping

The transition to the International Maritime Organization’s global low sulfur mandate and the high sulfur fuel oil carriage ban has been relatively smooth so far but inspections are set to drop as the focus has shifted to containing the coronavirus’ spread, with safe bunkering practices, crew changes and continuity of the global supply chain in shipping receiving more attention, sources say.

https://www.bunkerworld.com/news/156842

Coronavirus’ spread hurts scrubbers outlook in short run: EGCSA

The coronavirus pandemic has created a grim outlook for scrubbers in the short term as some shipowners prepare to divert their capital for other uses while a few defer planned installations either due to a narrowing high/very low sulfur fuel oil spread or a shortage of manpower at shipyards, Exhaust Gas Cleaning Systems Association Director Donald Gregory said in an interview with S&P Global Platts. https://www.bunkerworld.com/news/insight/156832

Carriers cancel low-sulphur surcharges as fuel prices drop – along with demand

Container spot rates from Asia to Europe remained stable this week and, having withdrawn around a third of headhaul capacity for April, carriers will hope they have done enough to match the collapse in demand.

https://theloadstar.com/carriers-cancel-low-sulphur-surcharges-as-fuel-prices-drop-along-with-demand/

COVID-19 and the unsung heroes – our seafarers

Javed Ali and Sarah Barnes highlight some key points to assist shipowners in protecting their seafarers’ mental health during the unprecedented COVID-19 pandemic. 

https://www.hilldickinson.com/insights/articles/guidance-help-protect-seafarers-mental-health-during-covid-19-pandemic