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Marine fuels
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Latest marine fuels news
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Yemen’s Houthis attack ships in Red Sea, Mediterranean
Yemen’s Houthis attack ships in Red Sea, Mediterranean
Singapore, 16 July (Argus) — Yemen-based Houthi militants have launched three military operations in the Red Sea and the Mediterranean, Yemen's state-owned news agency Saba said on 15 July. The Houthis carried out multiple attacks against an Israel-owned oil product tanker in the Red Sea, according to US Central Command (Centcom) on 16 July. The Houthis used three surface vessels to attack the Panama-flagged and Monaco-operated Bentley I , which was carrying vegetable oil from Russia to China, Centcom said. There was no reported damage or injuries, Centcom said. Bentley I loaded 39,480t of sunflower oil at Russia's Taman port on 3 July, according to global trade analytics platform Kpler. The Houthis also separately attacked a Marshall Islands-owned, Greek-operated crude oil tanker Chios Lion with an uncrewed surface vessel (USV) in the Red Sea. The USV caused damage but the Chios Lion has not requested assistance and there have not been any reported injuries, Centcom said. The Houthis described its hit as "accurate and direct", according to Saba. The Chios Lion loaded 60,000t (387,000 bl) of high-sulphur straight-run fuel oil on 30 June and 30,000t of fuel oil on 18 June, both at Russia's Tuapse port, according to Kpler. It planned to unload these in China on 22 July. The Houthis have claimed responsibility for these two ship attacks, which were targeted "owing to violation ban decision of access to the ports of occupied Palestine by the company that owns the ship". The Houthis also claimed a third attack on the Olvia with the Iraqi Islamic Resistance in the Mediterranean, with this having "successfully achieved its objective". The Olvia loaded about 6,300t of very-low sulphur fuel oil at Israel's Haifa port on 12 July and was scheduled to unload this at Israel's Ashdod refinery on 13 July. Crude prices were largely lower at 04:00 GMT. The Ice front-month September Brent contract was at $84.63/bl, lower by 22¢/bl from its settlement on 15 July when the contract ended 18¢/bl lower. The Nymex front-month August crude contract was at $81.65/bl, down by 26¢/bl from its settlement on 15 July when the contract ended 30¢/bl lower. By Tng Yong Li Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Singapore LNG bunker sales post fresh highs in June
Singapore LNG bunker sales post fresh highs in June
Singapore, 15 July (Argus) — Demand for alternative marine fuels rose further in June at the port of Singapore, with LNG demand for bunkering touching fresh highs. Total bunker sales in June rose by 8.7pc from a year earlier to 4.27mn t, according to preliminary data from the Maritime and Port Authority of Singapore (MPA), lifted by a 2.7pc increase in vessel throughput in Singapore to around 10.11mn in June. But sales slipped by 11pc from a strong May. "It is [lower] LNG prices versus fuel oil prices, along with higher fuel demand, due to the longer passage through the Cape, [and] that is playing an important role," said a key Singapore-based LNG bunker supplier, referring to the increased demand from the rerouting of vessels because of attacks on shipping in the Red Sea region. Demand for bunkering LNG has increased this year, with Singapore recording 175,030t of LNG used to fuel ships in the first half of this year. This is more than a threefold increase from the same period last year when 36,900t of LNG was bunkered in Singapore. Demand for biofuel blends in the first half increased by 46.7pc versus the same period last year. January-June sales were 280,160t compared with 191,000t a year earlier. The blend of 76pc very-low sulphur fuel oil (VLSFO) and 24pc used cooking oil methyl ester, also known as B24, has been the first choice of alternative fuel among shipowners in Singapore, partly because of its drop-in character. Increased enquiries emerged for B24 in Singapore since April-May this year, with short-term tenders going to key shipowners planning voyages to Europe. "There are customers taking more volumes in H2 2024. Volumes wise [for the year, this] might not see a huge increase [but we] will just see more customers," said an international trader. Consumption of conventional bunker fuels has remained largely steady in Singapore, with the exception of high-sulphur fuel oil (HSFO) where sales for June rose by 26pc compared with a year earlier to 1.56mn t. There was a 29pc increase for January-June this year against the 2023 equivalent. Firmer demand has continued for lower priced HSFO, particularly for vessel owners hoping to maximise the use of installed exhaust scrubber systems in handling alternative marine fuels. VLSFO consumption was down by 2pc in the first six months of 2024 versus the same period in 2023, with overall demand largely unchanged. Supplies have been higher in Singapore from this year's second quarter, which is expected to remain in the short term, said industry participants. Red Sea diversions Singapore has absorbed 40pc of the increased demand created by the Red Sea disruptions, data from the International Bunker Industry Association show. Demand in Singapore rose to 4.62mn t/month in this year's first quarter from 4.23mn t/month in 2023. Container terminals in Singapore were congested in the first half of the year because of Red Sea voyage rerouting. Container throughput at the city-state grew by 6.4pc from a year earlier in the first half of 2024 to 20.25mn 20ft equivalent units (TEUs) by June, according to the MPA. Singapore in May recorded a 7.7pc year-on-year increase to 16.9mn TEUs, said Singapore's transport minister Chee Hong Tat. Tonne-mile demand for tanker vessels is expected to grow this year. Greek crude tanker owner Okeanis Eco Tankers forecasts tonne-mile demand to grow by 5.6pc in 2024 and by a further 5.5pc in 2025. By Cassia Teo, Sean Zhuang and Mahua Chakravarty Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Panama June bunker sales up slightly
Panama June bunker sales up slightly
New York, 11 July (Argus) — Panama's June bunker sales rose by 0.7pc from a year earlier to 385,716 metric tonnes (t) but were down from May, according to the Panama Canal Authority (ACP). The higher June sales were driven by strong high-sulphur fuel oil (HSFO) demand, which rose by 64pc to 109,457t. HSFO sales in January-June 2024 are up 31pc to 639,191t compared to the same months in 2023. Lower prices compared with competing ports and more vessels fitted with scrubbers coming online are likely leading to the increased HSFO demand in Panama. The Panama HSFO June monthly average price was $470/t, the lowest in the region. La Libertad, Ecuador, had the second-lowest HSFO monthly average price last month at $517/t. Panama June sales fell from May on weaker very low-sulphur fuel oil (VLSFO) and marine gasoil (MGO) buying interest. VLSFO sales totaled 235,534t in June, 3.7pc lower than May 2024. MGO sales also fell by 1.8pc in June to 40,725t. The Panama VLSFO June monthly average was assessed the lowest in Latin America at $593/t, a $15/t discount to the second lowest in the region, which was Buenos Aires at $608/t. For MGO, Cartagena, Colombia, had the lowest monthly average price in June at $703/t. Panama MGO averaged $772/t the same month and buyers may have shifted interest away from Panama looking for lower MGO prices. June saw the highest number of vessels pass through the Panama Canal so far this year as the ACP has been increasing daily transit limits during Panama's rainy season. A total of 516 ships traveled through the Canal in June, the most since November 2023. The ACP boosted its daily transit limit to 32 ships/d since 16 May, and added one additional slot to 33 ships/d that began on 11 July. It also increased the maximum vessel draft to 45 feet starting on 15 June, which will enable bigger ships to pass through the Canal. The ACP will add one additional transit slot on 22 July and 5 August, which will bring transit capacity to 35 ships/d. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Turkish bunker supplier offers biodiesel blends
Turkish bunker supplier offers biodiesel blends
New York, 26 June (Argus) — Turkish marine fuel supplier UNERCO is now offering biodiesel bunker blends at Turkish ports. The company offers B10, B20, B24 and B30 biodiesel bunker blends with ISO 8217:2024 specification. The biodiesel is also International Sustainability and Carbon Certification (ISCC)-certified. Interest in biodiesel as a low-carbon fuel option has increased, with vessel operators looking to meet carbon intensity indicator (CII) limits imposed on each vessel by the International Maritime Organisation and also reduce their CO2 emissions payments imposed by the EU on vessels travelling in EU territorial waters. UNERCO operates five bunker barges in Turkey and can also supply bunkers via truck. In the west Mediterranean bunkering hub of Algeciras and Gibraltar, B24 was assessed at an average of $782/t from 1-26 June, compared with very low-sulphur fuel oil at $583/t. By Stefka Wechsler Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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