Bunkering

The upcoming import tax regime is a likely cause Just days before Beijing’s oil tariffs regulations kick in, China’s private oil buyers appeared to have paused its purchases. As a result, five tankers loaded with 6 million barrels of North Sea Oil are drifting off European waters. Swift slowing in …

Beijing’s upcoming fuel tax got Venezuela scrambling to get its oil into China Beijing announced new taxes on imports of diluted bitumen, light cycle oil (LCO) and mixed aromatics would take effect from 12 June 2021. This tariff is going to cost importers another 50 per cent. What is supposed …

Marine fuel brokerage NSI anticipates larger suppliers to overshadow smaller ones Bigger bunker suppliers will be heavily leveraging economies of scale to dominate the marine fuel hubs in the near future, leaving smaller suppliers obscured. Paul Hardy, head of business development at NSI, noted: “The shift of the largest commodity …

Plummeting demand for diesel, gasoline, jet fuel and LPG questions previous forecasts To date, India’s COVID-19 infections numbers are inching closer to 20 million with many pessimistic about the country’s economic recovery. Much to sources’ surprise, India’s diesel, gasoline, jet fuel and LPG demand all declined in April from a …

Despite several oil recovery projections, India’s soaring infections cast doubts The Organisation of the Petroleum Exporting Countries (OPEC) projected a robust global demand in 2021. However, a sharp spike in India’s infections challenged the take. The country is currently experiencing its worst outbreak, with media reports noting the continual increase …

Image Credits: Shell Shell sets to pave the way for cleaner, hydrogen-powered shipping after a successful trial  Royal Dutch Shell announced their upcoming feasibility study with partners on hydrogen fuel cells for ships in Singapore. The inaugural study will set the foundations for hydrogen-powered shipping.  This came after Shell’s analysis …

Singapore’s third licensed official LNG bunker supplier holds high hopes for its materialising Frederic Meyer, strategic director of Total Marine Fuels Global Solutions asserted: “We believe Singapore is going to be the major hub in Asia for LNG bunkering. Let’s not forget about the position today in conventional fuels,” This …

Reported side effects from the vaccine resulted in charter slowdowns and implicated oil prices Oil prices fell for a third day on 16 March 2021; as Germany, France and other European states suspended using a major COVID-19 vaccine, threatening the recovery of fuel demand. Though Brent crude peaked early this …

The levies will go to the IMO Maritime Research Fund created for the decarbonisation mission The shipping industry’s proposal to impose $2/mt of levy for bunker fuel purchase proposed last year garnered eight more nations’ backing. Proceeds from the $2/mt levy on marine fuel purchases will go to a $5 …

Maritime heavyweights jointly explore providing green ammonia bunkering in the country A.P. Moller – Maersk A/S, Fleet Management Limited, Keppel Offshore & Marine, Maersk Mc-Kinney Moller Center for Zero Carbon Shipping, Sumitomo Corporation and Yara International ASA signed a Memorandum of Understanding (MoU). The intention is to jointly conduct a …