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

Ship Insight: Scrubber installation delays reported as 2020 looms

Ship Insight: Scrubber installation delays reported as 2020 looms

Shipowners planning to have scrubber installations on existing ships in time for the 1 January deadline may be disappointed recent developments suggest.

Analysts Alphatanker said in its latest report that ‘The past few weeks have seen a number of tonnage owners release statements indicating that their scrubber retrofitting programs were falling behind schedule. Notably, Diamond S Shipping has revealed that scrubbers on 3 of its Suezmaxes will not be fitted until 1Q20, from the original estimate of 4Q19. Meanwhile, a number of non-publicly listed companies have revealed to Alphatanker that certain Chinese yards are running behind schedule due to the longer-than-expected installation time of scrubbers.”

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#IMO2020 #Sulphur2020 #Sulfur2020

Coming changes in marine fuel sulfur limits will affect global oil markets

Coming changes in marine fuel sulfur limits will affect global oil markets

International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operators, refiners, and global oil markets. Stakeholders will respond to these regulations in different ways, increasing uncertainty for crude oil and petroleum product price formation in both the short and long term.

When burned, the sulfur in marine fuel produces sulfur dioxide, a precursor to acid rain. The sulfur content of transportation fuels has been declining for many years because of increasingly stringent regulations implemented by individual countries or groups of countries. In the United States, federal and state regulations limit the amount of sulfur present in motor gasoline, diesel fuel, and heating oil.

The upcoming 2020 rules apply across multiple countries’ jurisdictions to fuels used in the open ocean, representing the largest portion of the approximately 3.9 million barrel per day global marine fuel market, according to the International Energy Agency.

Read the full article here