Marine fuels
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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.
Shipping sector seeks flexibility, voyage optimisation
Shipping sector seeks flexibility, voyage optimisation
Singapore, 16 September (Argus) — A multi-fuel approach is needed to tackle the complexities of energy transition in the shipping sector, said delegates at last week's Appec conference in Singapore. With energy transition in the early stages, delegates agreed that conventional fuels will be used in tandem with a mix of low to zero carbon fuels in a flexible and cost-efficient way. "I think we're moving from a world where we have only one homogeneous choice to a world of heterogeneity when it comes to alternative fuels," said the head of maritime safety, sustainability and technical at Australian resources firm BHP Ashima Taneja. Chartering dual-fuelled vessels is "about creating that flexibility," Taneja added. "Energy efficient technologies will definitely be a very strong component of hitting the 2030 targets," said the chief operating officer of Singapore bunker supplier and marine logistics firm Equatorial Marine Fuel Choong Sheen Mao, adding that "marine fuels will play a very significant role". "Running ships on a mix of alternative fuels and fossil fuel will provide "a bit more longevity to these conventional fuels" said Choong. Maritime participants want to ensure that safety standards and infrastructure for alternative fuel bunkering are ready, with seafarers well trained to handle various fuels. Shipping firms need to have the "confidence" that multi-fuel bunkering procedures will remain largely similar regardless of port, said the director of decarbonisation and net zero pathways at the Maritime and Port Authority of Singapore New Wei Siang. Port agreements, like digitally-enabled green shipping corridors , serve as a vital collaboration that support the maritime industry in testing solutions and syncing knowledge. "Emission reduction is not just changing fuels. It is also how to use your ship more efficiently," said the head of sustainability, decarbonisation and marine fuels at Singapore container shipping firm Pacific International Lines Chia Yujin. More fuel could be saved through green shipping corridors if ships "have clear visibility over port congestion situation at the end of the voyage, and… can adjust our speed to match our arrival," he added. "A lot can be achieved by using alternative fuels… when price support is there but also focusing on other initiatives such as voyage optimisation, just running your feet more efficiently. That can help you achieve those targets involved," according to Taneja. "We almost cannot use a one size fits all approach," said the managing director of Nigerian trading and logistics firms Cabipa Chibuzor DU Chiadikobi, noting that "emerging" economies remain a step behind in the energy transition journey. "I'm quite sure that shipowners want to have that guarantee that even if we make the transition to alternative fuel, certain destinations will be able to have the port infrastructure and, most importantly, the alternative fuel for them to be able to bunker." "At the end of the day, shipping is still a business," said Choong. "We have to be competitive and you only can be competitive when there is a level playing field." By Cassia Teo Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Plaza Marine alleges Ankora used company secrets
Plaza Marine alleges Ankora used company secrets
New York, 6 September (Argus) — New Jersey-based marine fuel supplier Plaza Marine is suing another supplier, Ankora Fuels, alleging that two former Plaza Marine employees used company trade secrets to benefit a rival company and to compete in the same market. Plaza Marine alleges that the two ex-employees, John and Zachary Barbarise, used its trade secrets, confidential information, customer, and supplier relationships to conduct business that is virtually identical to Plaza Marine, according to the suit filed last month in US District Court for the District of New Jersey. John Barbarise was vice president of sales and trading at Plaza Marine until May 2023 and Zachary Barbarise was an operations manager until July 2024. Both individuals are listed as defendants in the suit in addition to Ankora Fuels. According to the lawsuit, John and Zachary's positions at Plaza Marine gave them access to proprietary information about Plaza Marine's business including contracts with its customers, supplier lists and long-term planning like price strategies for its customers. Plaza Marine alleges that John and Zachary used this information to attempt to "clone" Plaza Marine including chartering a vessel that is a long-term vendor of the company and creating a pricing methodology that is like Plaza Marine. This has created confusion in the marine fuel market, according to Plaza Marine. "By creating a competing company engaged in virtually the same activities as Plaza Marine, it is inevitable that John and Zachary will necessarily use and disclose Plaza Marine's trade secrets for their own personal gain and to create an unfair competitive advantage for Ankora," the company said in the suit. According to the lawsuit, prior to resigning from Plaza Marine, Zachary allegedly contacted John on multiple occasions and accessed files related to Plaza Marine's customers, including once after an internal meeting that discussed confidential information related to its customers and suppliers. Zachary also allegedly created Google document files on a personal device and copied and pasted Plaza Marine's trade secrets into that file prior to departing from the company. Plaza Marine alleges that Zachary was passing along this confidential information to John for use at Ankora. Ankora said the allegations are "completely baseless" and that John and Zachary have never taken any information from Plaza Marine. The company said that Zachary has never worked for Ankora and the Google sheets Plaza Marine allegedly found in Zachary's computer were files "for a fantasy football draft and an ultimate fighting championship contest." "The simple truth is Plaza Marine does not want to face competition from a new player in its space. Plaza Marine wants to continue to mistreat customers and other business partners by blocking Ankora Fuels' entry into the market. That's why Plaza Marine has filed this baseless lawsuit. Plain and simple. We are confident that our customers will see the same, and that they will realize – if they haven't already – that Plaza Marine is not a good partner for their businesses," Ankora said. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Idemitsu completes biofuel trial for bunkering vessels
Idemitsu completes biofuel trial for bunkering vessels
Tokyo, 5 September (Argus) — Japanese refiner Idemitsu has completed a test of mixed biofuel using fatty acid methyl ester (Fame) for bunkering vessels in the Hokkaido area ahead of commercial use. Idemitsu carried out a trial for 10 months starting in September 2023, using a 24pc Fame mixture of used cooking oil collected from convenience stores in Hokkaido with existing marine fuel oil. The mixed biofuel can be used in the same applications as existing marine fuel oil without any changes to equipment specifications or operating conditions in cold climates, Idemitsu said. Mixed biofuel is able to cut 20pc of carbon dioxide compared with existing marine fuel oil. But there has been difficulty in using it in sub-zero temperatures, which results in solidification and oxidation. Idemitsu will increase use of the bio-mixed marine fuel to areas other than Hokkaido, in its effort to achieve the country's 2050 decarbonisation goal. By Reina Maeda Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Tight Singapore VLSFO supplies lift bunker prices
Tight Singapore VLSFO supplies lift bunker prices
Singapore, 28 August (Argus) — Bunker prices for very-low sulphur fuel oil (VLSFO) at the port of Singapore rallied in end-August, bolstered by tight supplies and steady gains in Ice Brent Singapore crude futures. The VLSFO prices rose by 4.7pc on the day and 3.5pc on the year to $656/t on a delivered on board (dob) basis on 27 August, as tight spot availability for the first half of September lifted fuel premiums. Singapore's VLSFO bunker prices were last assessed higher at $668.50/t dob on 30 January. Prices for prompt seven days' laycan versus mid-September delivery for VLSFO saw a backwardation of $25/t as limited barges and tight VLSFO supplies pushed prices higher. Prices for the next seven days' laycan were assessed at about $670-680/t on a dob basis in Singapore, while deliveries for mid-September were indicated at around $645-655/t dob basis. Limited blendstock components and stronger Chinese import demand have led to a near-term VLSFO supply crunch and supported increases in Singapore cargo prices from late August. Furthermore, domestic Chinese refineries reduced run rates because of limited VLSFO export quotas , resulting in higher VLSFO bunker prices in China and increased demand for imported fuel to meet domestic bunkering requirements. Meanwhile, limited VLSFO cargo availability, coupled with delays in loading at the port of Singapore, have raised VLSFO premiums on an ex-wharf and delivered basis over the past week. Delays in VLSFO cargo deliveries and delayed loadings at port terminals forced buyers to pay a premium for VLSFO bunker fuel delivered before 10-15 September, one trader said. "Zhoushan is much cheaper than Singapore so demand is moving there," another trader said, adding that some Singapore-based suppliers expect tight spot availability until October, overturning earlier expectations of limited availability until mid-September. Singapore's scrubber-spread — the price difference between VLSFO and high-sulphur fuel oil (HSFO) for bunkering — has widened to almost a six-month high of $174/t on 27 August because of the current rally in VLSFO prices. The scrubber spread is a key indicator of margins for bunker buyers with exhaust scrubber systems installed on their ships. A wider scrubber-spread would reflect higher cost savings while maintaining low carbon emissions when using HSFO instead of VLSFO for refuelling vessels. The tight supply of VLSFO also impacted the marine biodiesel market, with B24 prices in Singapore rising to $732.5/t on a dob basis at the close of 27 August, an increase of $35/t compared with the level on 20 August. By Cassia Teo Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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