Bunker and Lubricants News Round up – Issue 03

w/c: 18 May 2020

1111 days ago

World News – bunker fuels 

Classification societies clash on 2050 bunker demand outlook

Two leading classification societies have come up with two starkly different visions for how bunker demand might develop in the coming decades. (Ship & Bunker)

Read more: https://shipandbunker.com/news/world/616381-classification-societies-clash-on-2050-bunker-demand-outlook 

China enters a new low-sulphur shipping era

Establishing emission control areas has prepared China for global sulphur restrictions, but challenges remain. (China Dialogue)

Read more:https://chinadialogueocean.net/13818-china-enters-a-new-low-sulphur-shipping-era/ 

U.S. Government Issues Updated Sanctions Warning to Maritime Shipping Community 

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), the Department of State, and the U.S. Coast Guard issued a Sanctions Advisory for the Maritime Industry, reflecting increased scrutiny and enforcement attention by U.S. government agencies on curbing illicit shipping practices. (Hellenic Shipping News) 

Read more: https://www.hellenicshippingnews.com/u-s-government-issues-updated-sanctions-warning-to-maritime-shipping-community-recommends-best-practices-to-mitigate-risk/ 

Survey shows owners not well prepared for bunker price rises

Despite recent low bunker prices, a significant proportion of marine fuel buyers still do not have any risk management strategies in place to mitigate anticipated price rises according to bunker broker and trader LQM Petroleum Services. (Ship Insight) 

Read more: https://shipinsight.com/articles/survey-shows-owners-not-well-prepared-for-bunker-price-rises 

Hapag-Lloyd Loses $63.2 Million on Bunker Stock Devaluation After Oil Collapse 

Container line Hapag-Lloyd has lost €58.4 million ($63.2 million) as a result of the value of its bunker fuel inventory dropping in the wake of the recent oil-price collapse. (Ship & Bunker)

Read more: https://shipandbunker.com/news/world/941047-hapag-lloyd-loses-632-million-on-bunker-stock-devaluation-after-oil-collapse 

News – marine lubricants

Gazpromneft Marine Lubricants Expands in Mediterranean 

Russia‘sGazpromneft Marine Lubricantshas expanded its presence in theMediterranean regionThe company’s network in the region now covers27 portsinGreece,seven portsin Egyptand20 portsinTurkey, it said in an emailed statement. (Ship & Bunker) 

Read more: https://shipandbunker.com/news/world/110227-low-cost-biofuel-bunker-project-launches-with-5m-eu-funding 

Climate Change/Future Fuels 

Norwegian shipping launches strategy for becoming climate neutral by 2050  

The association marked the occasion on Monday (18 May) with an online event which streamed interviews with parties and stakeholders from locations across Norway before a copy of the strategy document was given to Norway’s Prime Minister Erna Solberg at the main event in Oslo. (Bunkerspot) 

Read more: https://www.bunkerspot.com/europe/50538-europe-norwegian-shipping-launches-strategy-for-becoming-climate-neutral-by-2050 

Low Cost Biofuel Bunker Project Launches with €5m EU Funding 

AnEU-funded project aiming to develop low-cost biofuel bunkers has officially got underway this month. The group says it aims to develop new production methods for sustainable maritime fuels based on lignin – a class of highly abundant organic polymers found in the cell walls of many plants and trees. (Ship & Bunker) 

Read more: https://shipandbunker.com/news/world/110227-low-cost-biofuel-bunker-project-launches-with-5m-eu-funding 

Norway’s hydrogen-fuelled maritime sector progresses 

Mongstad Industrial Park in Norway has been selected as the location for what could be the country’s first production plant for liquid hydrogen serving the maritime market. 

Located in Vestland country, on the west coast of Norway, the chosen site is positioned close to customers in the maritime sectors and offers promising opportunities for expansion to meet increased demand for liquid hydrogen. (H2 View) 

Read more: https://www.h2-view.com/story/norways-hydrogen-fuelled-maritime-sector-progresses/ 

The Falling Cost of Biofuel – Now a “Commercially and Technically Viable” Alternative to Fossil Bunkers 

The price of GHG-footprint reducing biofuels has declined to the extent where they should now be considered both a commercially and technically viable alternative to conventional bunkers, even as the price of oil slumps to multi-year lows, according to supplier GoodFuels. (Ship & Bunker) 

Read more: https://shipandbunker.com/news/world/939386-interview-the-falling-cost-of-biofuel-now-a-commercially-and-technically-viable-alternative-to-fossil-bunkers

Digital transformation

Hyper-awareness is crucial for leadership in the digital age

Director for digital transformation at one of the most advanced shipowners, Van Oord, explains what is needed for company-wide digitalisation. (Rivieramm)

Read more: https://www.rivieramm.com/opinion/hyper-awareness-isnbspcrucialnbspfornbspleadership-in-the-digital-agenbsp-59464 

Western Bulk signs up to Oceanbolt platform

Norwegian dry bulk operator Western Bulk has signed a deal with Oslo-based tech start up Oceanbolt, to use its web-based market intelligence service for decision support and to become a data partner for the platform. (Smart Marine Network)

Read more: https://smartmaritimenetwork.com/2020/05/18/western-bulk-signs-up-to-oceanbolt-platform/ 

Carriers prepare to bid farewell to the old bill of lading 

The Digital Container Shipping Association (DCSA), states that moving towards a standard, paperless bill of lading will derive $4bn in potential annual savings at a 50% adoption rate for the container shipping industry. (Ship & Bunker)

Read more: https://splash247.com/carriers-prepare-to-bid-farewell-to-the-old-bill-of-lading/ 

Facebook is building a huge undersea cable around Africa

Facebook is building a massive underwater cable around Africa, in an effort to bring more of the continent’s 1.3 billion inhabitants online. (CNBC)

Read more: https://www.cnbc.com/2020/05/14/facebook-building-undersea-cable-in-africa-to-boost-internet-access.html

Maritime Events and Initiatives

Maritime hydrogen and marine energy conference to go ahead digitally 

Organizers behind the 5th International Conference on Maritime Hydrogen and Marine Energy have today confirmed the event will go ahead digitally in 2020. (H2 View)

Read more: https://www.h2-view.com/story/maritime-hydrogen-and-marine-energy-conference-to-go-ahead-digitally/  

State of the Industry Webinar, Tuesday, May 26, 2020

This is not the post-2020 environment we expected – webinar examines the key issues that marine fuel stakeholders from buyers to suppliers face today.

Learn more: https://shipandbunker.com/webinar

During ‘Mental Health Awareness’ week Hanseaticsoft highlights how technology can support seafarers

In Mental Health Awareness Week, Alexander Buchmann, Managing Director, of Hanseaticsoft is urging shipping companies to make better use of technology onboard to support mental wellbeing both during the COVID-19 crisis and in the future. (Tanker Operator) 

Read more: http://www.tankeroperator.com/news/during-mental-health-awareness-week-hanseaticsoft-highlights-how-technology-can-support-seafarers/11585.aspx 

Stranded at Sea – supporting our seafarers

The impact on our seafarers if a vessel owner runs into financial difficulties can be catastrophic. Worldwide, 4,866 seafarers on a total of 336 vessels have been recorded as abandoned onboard ships. (Bulugo) 

Read more: https://bulugo.com/mission-to-seafarers/

Video honors seafarers during COVID-19 crisis

Images of key workers continuing to work during the current crisis have so far only featured shore workers leaving seafarers overlooked. But a new short video produced by The American Club and Eagle Ocean Marine (EOM) entitled ‘Weathering the Storm’ salutes the service of seafarers in these turbulent times as they seek to protect themselves in their vital work, at sea and in port, against the ravages of COVID-19. (Ship Insight)

Watch now: https://shipinsight.com/articles/video-honours-seafarers-during-covid-19-crisis


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