Maritime News Round up – Issue 17

Bunker fuel

MABUX World Bunker Index 

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) demonstrated slight irregular changes on Aug.26: 

380 HSFO – USD/MT – 313.27 (+2.42)
VLSFO – USD/MT – 366.00 (+3.00)
MGO – USD/MT – 442.98 (-1.60) 

Meantime, world oil indexes also demonstrated multidirectional changes on Aug.26 pressured by worries about the demand outlook during the coronavirus pandemic but buoyed as U.S. producers shut output in the Gulf of Mexico ahead of Hurricane Laura. Hellenic Shipping News 

Chennai Petroleum Corporation introduces first batch of low sulphur bunker fuel 

Indian state-owned oil and gas corporation Chennai Petroleum Corporation Limited (CPCL), a Group company of Indian Oil Corporation (IOC), has successfully produced a batch of IMO 2020 compliant low sulphur bunker fuel and is ready to supply to vessels at port. Manifold Times 

Global Ship Orders May Take Decade to Mend as Crisis Builds

There’s hardly anyone buying new ships, with orders plunging to a 20-year low due to a potent combination of uncertainty over environmental regulations, the economic fallout from the coronavirus pandemic and a lack of financing. Bloomberg / G Captain 

Carriers Scramble to Charter Larger Containerships at ‘Whatever it Takes’ Prices

Ocean carriers are scrambling to charter larger containerships to take advantage of skyrocketing freight rates caused by a spike in demand across major trade lanes. Handy 7,500-11,000 teu ships have been virtually ‘sold out’ since July and any tonnage that does become available is being snapped up quickly by energetic in-house carrier brokers. The Loadstar 

Exxonmobil – Protecting against the impact of vessel lay-ups on marine fuel 

The marine industry is experiencing an unprecedented downturn in operations. In the latest article in ExxonMobil’s Fuel for Thought series, John LaRese, Marine Fuels Technical Advisor, highlights that vessel lay-ups are already underway, which could trigger costly fuel issues. The Covid-19 pandemic has significantly disrupted the demand for both consumer goods and cruise holidays. As a result, many ship owners have chosen to lay up vessels until travel restrictions ease and the demand for freight trade returns. Bunkerspot  

As Banks retreat from commodity trade finance, who will fund the bunker industry now? 

The retreat of several large banks from commodity trade finance this summer is a worrying sign for the bunker supply chain, coming at a time when financial pressures are already acute for much of the industry. Ship and Bunker 

Decarbonisation 

Hydrogen leading the way in new global zero emission study 

The Getting to Zero Coalition has started mapping some of the many zero emission pilots and demonstration projects going on around the world, with hydrogen research leading the way in one form or another in shipping’s pursuit of a clean fuel. The research currently includes 66 pilot projects with more to be added soon. Splash247  

Marine lubricants 

Dynamic Fuels to distribute ENOC’s marine lubricants in Spain 

Dubai’s ENOC Group has announced a partnership with Dynamic Fuels to become the official distributor of ENOC’s marine lubricants in Spain. The agreement comes as part of the group’s plans to bolster its international presence to cater to the needs of its international customers. F&LDaily 

Digitalization 

ABB and Kongsberg join forces on digitalisation 

Kongsberg Digital has signed a contract with ABB Turbocharging enabling exchange of vessel data across cloud-based platforms for edge data collection and ship engine performance analysis. Riviera 

Wipro and Uniper develop LNG trading platform 

IT technology specialist Wipro and energy company Uniper have announced the implementation of a blockchain-based small-scale LNG trading and fulfilment platform for Uniper Global Commodities SE and its subsidiary Liqvis. Bunkerspot 

PSA Marine launches carbon-cutting digital solution 

PSA Marine has unveiled Vessel Pilot Communication (VPC), a digital solution to cut the carbon footprint during maritime operations. In a statement PSA Marine said VPC will ensure critical and timely updates on pilot boarding times and traffic conditions in and around the boarding grounds are communicated to vessel masters. Port Technology 

Maritime

Over 600,000 lose power as Laura remains hurricane 

More than 600,000 people have lost power in Texas and Louisiana as Laura continues moving north as a hurricane. Several petrochemical plants and refineries shut down operations in the two states in preparation for the storm. ICIS 

MAN ES readies Otto-cycle, two-stroke DF engine for 2021

Responding to demands for a low-pressure, dual-fuel engine, MAN Energy Solutions’ new Otto-cycle, two-stroke ME-GA will be delivered to shipyards by the end of 2021. Riviera

ICS issues new protocols to mitigate Covid-19 risks onboard ships  

The International Chamber of Shipping (ICS) together with the International Maritime Health Association (IMHA) and tanker owners’ body Intertanko have drawn up new protocols designed to mitigate the risk of Covid-19 cases on board ships. Seatrade

Events 

NEXT WEEK – Global Bunkering Summit 2020 – It’s FREE!

Shipping and bunkering are true ‘contact sports’, where personal interaction and shared experience are every bit as important as the information gathered from industry events – or given the current restraints caused by the coronavirus – online seminars. But while travelling to attend overseas conferences is impossible at present, the need and desire to communicate with the outside world has never been stronger. 

Register for this FREE event: https://www.petrospot.com/events/gbs-2020