By Ahmad Ghaddar and Julia Payne LONDON, Aug 16 (Reuters) - Margins for European high sulphur fuel oil (HSFO), used to power ships, sank this week as preparations for a global shift to cleaner maritime fuel next year start to weigh on prices. High sulphur fuel oil is one of the dirtiest and cheapest products to come out of a refinery. It is used in power generation but has … [Read more...]
Low Sulphur Fuel Giant Planned for Launch
OSLO, Aug 13 (Reuters) - Commodities trader Trafigura is joining forces with shipping firms Frontline and Golden Ocean to supply marine fuel ahead of a shake up in regulation which could disrupt delivery and cause prices to spike. The three companies said on Tuesday the joint venture is expected to start operating in the third quarter, subject to agreement on final … [Read more...]
Euronav’s Giant ‘Oceania’ Starts 12,400-Mile Trip to Fuel-Storage Zone
By Jack Wittels and Timothy Abington (Bloomberg) --The world’s biggest oil tanker has begun a 12,400-mile voyage to a fuel-storage zone in Asia, the latest movement of a vessel that’s intrigued the shipping market and fuel traders for months. More than 1,200 feet long, 16 years old, and able to hold roughly a day of France’s and Britain’s combined oil consumption, Oceania … [Read more...]
The 340-Mile Line of Ships Waiting to Clean Up
By Alex Longley (Bloomberg) Head to the shipyards of Shanghai, Singapore or Hamburg and you’ll soon find them full to the brim with vessels rushing to clean up their act. Over the course of this year, about 2,200 ships will install so-called scrubbers that allow them to keep burning more-polluting fuel that will otherwise be banned. Put all of those vessels in a line, and … [Read more...]
Calls for IMO 2020 Grace Period Mount as Deadline Looms
By Mike Wackett (The Loadstar) - Growing safety concerns around the IMO’s 0.5% sulphur cap on marine fuels has led to talk of a period of “permitted noncompliance” following the 1 January implementation. In addition, Indonesia has announced that, because of the threat of an increase in prices for consumer goods, it will continue to allow its flag-state vessels to burn 3.5% … [Read more...]