Chevron charters its first hybrid barge in Singapore

  • : Oil products
  • 24/04/03

Chevron has chartered its first hybrid electric bunker vessel from V-Bunkers, with the Marine Dynamo carrying bunker fuel in the region and designed to consume about 20pc less fuel than conventional tankers.

The hybrid electric barge operates on a fuel engine and an electric power system that supplements the vessel with electricity during periods of high fuel consumption. The barge also provides an opportunity to assess wider adoption of hybrid vessels, said Chevron's Asia Pacific commercial marine manager Jennifer Chao.

"We're looking for opportunities like this to understand new technologies, test capabilities and collect data to determine if there [can be] broader applicability for our global operations," said Chao.

Current technology will not allow barges to run completely on electricity, and among other challenges, the batteries would take up too much space, said Chevron's Asia Pacific term charterer Varun Kohli. The size of a battery pack is almost as large a 20-foot shipping container.

"As technology comes along and batteries become smaller and more efficient, hopefully in the not too distant future, we'll have bunker tankers able to operate fully on batteries," Kohli said.

The maritime sector continues to push to decarbonise shipping, after the International Maritime Organisation last year set a 2050 net zero target for its greenhouse gas emissions.


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24/04/18

UAE air traffic recovery begins after storm disruptions

UAE air traffic recovery begins after storm disruptions

Singapore, 18 April (Argus) — Air traffic at Dubai International (DXB) has begun to recover after an unprecedented storm hit the country on 16 April, although flight delays are expected to continue. "DXB resumed inbound flights of international airlines operating out of terminal 1", a spokesperson for DXB operator Dubai Airports said on 18 April. But it urged travellers not to come to the terminal for outbound flights before confirming their flight status, as it said the access to the terminal is "strictly limited" to guests with confirmed departures. Prolonged flight disruptions at DXB, which was ranked the second-busiest airport in the world in 2023, according to the Airports Council International's preliminary ranking, could affect regional jet fuel demand. Dubai low-cost carrier flydubai said it has now resumed partial operations from DXB, having previously cancelled all of its flights scheduled to depart from Dubai on 16 April evening until 10am on 17 April. Select outbound flights were to operate from DXB's terminal 2 with scheduled operations resuming after 8pm on 17 April, it said, while flights from terminal 3 were due to resume after midnight. But Dubai-owned Emirates Airlines has extended the suspension on check-in for passengers departing DXB until 9am on 18 April, after having initially suspending it between 8am and midnight on 17 April. The airline said the extension was because of "continued operational challenges caused by bad weather and road conditions". Neighbouring Abu Dhabi's Zayed international airport said it is "operating smoothly", despite issuing a warning on 17 April that some flights might be delayed. By Ieva Paldaviciute Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

June deadline set for Citgo auction bids


24/04/17
24/04/17

June deadline set for Citgo auction bids

Houston, 17 April (Argus) — Bidders for Citgo's US refining assets have until 11 June to submit offers for the company's 805,000 b/d of refining capacity and associated assets, with a tentative sale hearing set for 15 July. Documents filed Tuesday in the US District Court for the District of Delaware set 11 June as the deadline for interested parties to submit final binding bids after non-binding bids were received 22 January. The court began the auction process for Citgo's parent PdV Holding (PdVH) in October, part of the process of satisfying debts owed by Venezuelan-state owned oil company PdV. The court will file a notice of a successful bid "as soon as reasonably practicable" following the 11 June deadline and selection of a successful bidder. No date has been set for the filing of objections to the sale or replies to the objections before the tentative 15 July hearing. The legal wrangling over Citgo is unlikely to conclude even if the Delaware court successfully executes the sale as 27 businesses have filed claims against Citgo amounting to more than $21bn. The scale of Citgo's operations in the US are also a challenge to any potential buyer. Few companies look ready to buy the company's three refineries, three lubricants plants and retail and midstream assets. The assets have been valued by various analysts anywhere between $6.5bn and $40bn, with a lofty valuation potentially deterring bidders. But the auction process itself has been the main cause for concern. Independent refiner PBF Energy's chief executive Matthew Lucey previously called the auction a "quagmire" , considering its ties to a complex geopolitical situation in Venezuela, saying he did not expect the sale to go anywhere in the near term. Marathon Petroleum expressed similar disdain. "We're not interested in the auction process," Marathon chief executive Michael Hennigan said on an earnings call in October . By Nathan Risser Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Idemitsu books rare US Gulf-Vancouver HVO cargo


24/04/17
24/04/17

Idemitsu books rare US Gulf-Vancouver HVO cargo

New York, 17 April (Argus) — Japanese oil company Idemitsu provisionally hired a medium range (MR) tanker to carry hydrotreated vegetable oil (HVO) from the US Gulf coast to Vancouver on 16 April, a sign of the growing HVO trade from the region into west coast North America. Idemitsu put the Stolt Sisto MR on subjects for a US Gulf coast-Vancouver voyage from 20-25 April at $2.35mn lumpsum. The fixture may be part of an agreement under which Vertex Energy supplies Idemitsu's California-based subsidiary, Idemitsu Apollo, with all of its renewable diesel production from its plant in Mobile, Alabama. The plant's exports are targeting "growing regional markets in the western United States and Canada", according to Vertex. High freight costs for US domestic shipments because of the Jones Act may be encouraging Idemitsu to focus on the Canadian market. In comparison, freight for a US-flagged MR on a New Orleans-Los Angeles voyage was equivalent to $4.34mn, nearly double the cost of a voyage to more distant Vancouver. "I think [demand from Vancouver] will keep expanding with the subsidies/grants," a shipbroker said. "There is not much production in Vancouver, just Parkland [refinery]." Canadian oil company Suncor typically books one MR vessel a month to carry HVO from the US Gulf coast to Vancouver, with two charters in October 2023 standing out as a particularly active month for the trade, according to ship fixtures compiled by Argus . But Idemitsu has been "jumping in on the action" in recent months, according to the shipbroker, provisionally hiring at least one MR tanker on the spot market in January and February before yesterday's deal. Vancouver buyers are also getting HVO from Asia-Pacific suppliers, and countries like South Korea could become increasingly competitive in the renewable trade overall as they ramp up their sustainable aviation fuel (SAF) and HVO production in the coming years. Vancouver imported around 29,500 b/d of HVO in January 2024, including 16,612 b/d from the US, 7,548 b/d from South Korea, and 5,351 b/d from Taiwan, according to Kpler data. By Ross Griffith Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Exxon German refinery sale in limbo after court ruling


24/04/17
24/04/17

Exxon German refinery sale in limbo after court ruling

Hamburg, 17 April (Argus) — ExxonMobil's plan to sell its share in German refining joint venture Miro has been delayed by a court order following a petition by fellow Miro shareholder Shell. ExxonMobil agreed to sell its 25pc stake in Miro , operator of the 310,000 b/d Karlsruhe refinery, to Vienna-based Alcmene in October last year. The two sides were aiming to close the deal in the first quarter of this year, but in a letter seen by Argus last month, ExxonMobil said completion had been pushed back to the summer because some of the administrative procedures had yet to be finalised. Argus has since learned that a regional court in Karlsruhe issued an interim order against the sale on 18 January at Shell's request. Shell originally petitioned a court in Hamburg on 20 November, but the case was later moved to Karlsruhe, according to a court spokesperson. The judgement prohibits ExxonMobil from splitting off or transferring its Miro shares. The firm has already appealed against the judgement to a higher court in the region. A decision is pending. Exonmobil's partners in Miro are Shell with a 32.25pc stake, Russia's Rosneft with 24pc and US firm Phillips 66 with 18.75pc. Rosneft's German refinery assets have been under state trusteeship since September 2022. By Natalie Mueller Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Shell geht gegen Verkauf von Essos Miro-Anteilen vor


24/04/17
24/04/17

Shell geht gegen Verkauf von Essos Miro-Anteilen vor

Hamburg, 17 April (Argus) — Im Januar hat das Landgericht Karlsruhe einem Antrag von Shell Deutschland auf eine einstweilige Verfügung gegen den Verkauf der Miro-Anteile von Esso stattgegeben. Esso hat daraufhin Berufung eingelegt. Es ist unklar, ob und wann der Verkauf stattfinden wird. Ein entsprechender Antrag auf einstweilige Verfügung sei bereits am 20. November 2023 von Shell in Hamburg gestellt worden und wurde schließlich nach Karlsruhe überwiesen, so ein Sprecher des Landesgerichts. Mit dem Urteil sei es Esso somit untersagt, ihre Anteile an der Miro (310.000 bl/Tag) abzuspalten oder zu übertragen. Im Oktober 2023 hatte Esso den Verkauf ihres 25 %-igen Anteils an das österreichische Unternehmen und Liwathon-Tochter Alcmene bekanntgegeben. Anfang April folgte dann die Mitteilung, dass die Umsetzung der Übernahme aus administrativen Gründen auf Sommer 2024 verschoben wurde. Ursprünglich war diese für das 1. Quartal vorgesehen. Esso hat bereits beim Oberlandesgericht Karlsruhe Berufung gegen das Urteil eingelegt, so der Sprecher des Landesgerichts Karlsruhe. Ein abschließendes Urteil wurde bislang noch nicht gefällt. Sollte das Oberlandesgericht das Urteil aus erster Instanz aufrechterhalten, könnte dies die Übernahme der Miro-Anteile durch Alcmene weiter verzögern oder komplett stoppen. Von Natalie Müller Senden Sie Kommentare und fordern Sie weitere Informationen an feedback@argusmedia.com Copyright © 2024. Argus Media group . Alle Rechte vorbehalten.

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