Marine fuels
Overview
The introduction of new regulations has caused fundamental change across the marine fuel markets. Reliable insight and data reflecting the market direction are more pressing than ever.
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Our global coverage of marine fuels delivers market-driven price assessments, supply and demand data, price forecasts, and forward curve prices. Along with the latest news, market commentary, and in-depth analysis led by our market experts, our comprehensive insight helps your business decide on the best suited alternative marine fuel for your needs.
Latest marine fuels news
Browse the latest market moving news on the marine fuels industry.
EPA grants $125mn for US zero-emission projects
EPA grants $125mn for US zero-emission projects
New York, 18 October (Argus) — The US Environmental Protection Agency (EPA) has awarded funding to 14 projects that will cut diesel emissions at ports across the country. The funding is part of a $125mn grant allocated to various projects in the US that aim to "incentivize and accelerate the upgrade or retirement of older diesel engines to cleaner and zero-emission solutions leading to significant emission reductions and air quality and public health benefits." The money is awarded under the EPA's Diesel Emissions Reduction Act (DERA) National Grants Program. About 70 projects in total were awarded under this initiative this year. Most of the money for ports was allocated to switching to zero-emission equipment at the facilities, including $4.5 mn to buy 22 zero-emission drayage trucks in California to replace the trucks that use diesel. A total of $2.5mn has been awarded to Broward County, Florida, in part, to install shoreside power at Port Everglades for ships to plug into a power source while they are docked at the facility. A Louisiana-based nonprofit, Louisiana Clean Fuels, will receive $1.8mn to retrofit zero-emission engines in eight tow boats. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
UK to fund green shipping corridors
UK to fund green shipping corridors
Sao Paulo, 17 October (Argus) — The UK will allocate funds for a green shipping corridor to be created between it and mainland Europe, along with £8mn ($10.42mn) to 30 projects to accelerate plans to make sea travel cleaner. A green corridor is a zero-emission maritime route between ports. The announced corridors will access destinations between the Port of Tyne (UK) to the Port of Ijmuiden (Netherlands) and the Port of Holyhead (UK) to the Port of Dublin (Ireland). UK maritime minister Mike Kane did not specify the timing of the corridor launch in his announcement of the program. The Department for Transport will also develop green shipping routes from the UK to Norway and Denmark, but it has yet to announce the organisations that will lead these corridors. The Ministry also announced up to £8mn that will be given to 30 projects across the UK to develop technologies to make sea travel cleaner, which includes autonomous systems, artificial intelligence, robotics, and sensors. "These new corridors could turbocharge the use of sustainable fuels, secure the green jobs of the future, and advance environmentally friendly travel to major European capitals like Amsterdam and Dublin", Kane said. The funding comes from the £206mn ($268mn) UK Shore program, launched in 2022 to tackle shipping emissions. By Natália Coelho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Barriers remain to decarbonizing ships: Report
Barriers remain to decarbonizing ships: Report
New York, 15 October (Argus) — Barriers to the adoption of sustainable marine fuels like ammonia, methanol, and hydrogen still remain an issue, such as the stability of fuel supplies, according to a report by classification society Lloyd's Register (LR). A total of 431 ships are either "ammonia-capable" or "ammonia-ready" with most of those either bulk or gas carriers, LR said. The company also noted that the maritime industry is taking on more ammonia-related projects including two Norwegian companies, Yara and North Sea Container Line , forming a joint venture last year. About 815 vessels are either capable or ready to use methanol on board in the current fleet and the order book, the report said. Many of these ships are using blue methanol, which has better availability, LR said. For hydrogen, there are 78 vessels in operation and on order that are "hydrogen capable" but it is limited to coastal ferries and near-shore support ships. The fuel is not yet ready to use in larger, ocean-going vessels because of operating limitations that exist in those ships, like needing to bunker more frequently to finish a voyage, according to the report. Future fuel supply and safety concerns are two factors that are limiting uptake in these sustainable marine fuels. The maritime industry must have higher confidence that there will be available supply for the alternative marine fuels to boost investment, LR said. This may be possible if governments worldwide work with the maritime industry on policies that will increase supply. The crew must be trained on using alternative marine fuels to mitigate any risk for the people on board, the report said. This could include forming research coalitions to better understand potential risk and completing trials on a ship to implement any new safety rules. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
VLSFO average viscosity in 3Q at highest total
VLSFO average viscosity in 3Q at highest total
New York, 7 October (Argus) — Global average viscosity levels for very low-sulphur fuel oil (VLSFO) reached their highest average in the third quarter since 2020, according to French classification society Bureau Veritas. The average VLSFO viscosity levels at 50°C totaled 165 centistokes (cst) in the third quarter of 2024, the highest average for July-September since Bureau Veritas started compiling this data in 2020. The viscosity level was up slightly from the same quarter in 2023 at 164 cst, which was the previous high for this period. Las Palmas and Algeciras in Spain had, by far, the highest average VLSFO viscosity in the third quarter at 284 cst and 265 cst, respectively, according to Bureau Veritas. Nearby Gibraltar had the next highest at 202 cst followed by Fujairah, UAE, at 200 cst. Las Palmas and Algeciras also had the highest VLSFO viscosity in the second quarter of this year. Santos, Brazil, had the lowest average viscosity at 70 cst, followed by Istanbul, Turkey, at 76 cst and Houston, Texas, at 82 cst. The higher the viscosity level, the less friction and wear and tear will occur in the ship's engine. The percentage of off-specification VLSFO in Istanbul rose sharply to 9.4pc in the third quarter, Bureau Veritas said. There were no reported instances of off spec VLSFO in Istanbul in the previous two quarters of this year. Hong Kong had the next highest percentage at 3.2pc followed by Piraeus, Greece, at 1.9pc. Burning off-spec marine can damage a vessel's engine and potentially cause it to fail. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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Explore the strategies and greener fuels available to ship owners to achieve compliance and reduce GHG emissions with this insight paper.
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