Bunkering

After achieving sales targets for 2021, South Korean shipbuilders get ambitious Korea’s top 3 shipyards have secured enough work for full capacity operations till H1 2024. Industry observers however picked up an attention shift towards LNG in their journey towards IMO 2030. LNG may be the new black Korea’s Big …

Coal shortage and prices resulted in a temporal shift towards oil for power source Oil prices enjoyed steady sales when China battled a series of crises from its coal crunch and steep prices, to construction deadlocks. It reached almost rock bottom when the alternative coal producing countries also faced stock …

This is according to a report by the International Renewable Energy Agency (IRENA) Though reducing carbon emissions are important for the maritime industry, time is a concern on adopting environmentally-friendly fuels. Moreover, migration rate can also be thwarted by costs – if shipowners are not inclined to invest just yet. …

Though seasonal demand for coal and crude oil is norm, outlook remains unclear Last April when India battled a colossal COVID-19 outbreak, many tankers were left idling, if not waiting to discharge. The tanker market to date has not recovered, leaving players worried if the recovery will happen only in …

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 …