Despite the fact that the enforcement of the 0.5% sulfur cap will commence in less than a year, the situation around the pricing of the compliant low sulfur fuel has remained foggy so far. Since physical trading still remains almost inactive, there is no market liquidity and...
Blue Fin, the tanker pool controlled by Heidmar, took legal actions of approximately $1 million against Bomin Deutschland GMBH for damages arising from allegedly off-spec bunkers, which were lifted from the M/T Ridgebury Alina L at the port of Port Luis, Mauritius on the 15th of July...
It looks like Singapore is not willing to cut the edges in its policy for the mandatory use of Mass Flow Meters and the Maritime and Port of Authority (MPA) appears ready to take strict measures against those who don’t follow its guidelines properly. After the suspension...
The European Commission has given its green light to a plan by the Swiss International commodity trading company Mercuria Energy Group to acquire the Greek bunker company Aegean Marine Petroleum. The Commission considered that the competition rules are not violated in this case,...
The bunkering market is rapidly changing these days. Competition is increasing, bunker prices have been very volatile, while the IMO2020 regulations are expected to introduce a new status quo in the market. Further to these developments, Manjasa’s CEO, Anders Ostergaard, believes that “the old way of doing...
During the 6th meeting of its Sub-Committee on Pollution Prevention and Response (PPR 6), IMO discussed about measures to improve the quality of fuel delivered by bunker suppliers. This was not the first time that IMO discussed on the case, but this time is special since the...
Oil giant Brightoil has recently published a profit warning, where it states that the group’s losses for the 6-month period which ended on the 31st December 2018 are provisionally estimated at USD 57.61 million. Not only that, but despite the ongoing efforts and some favorable developments, the Group has not...
As it is broadly discussed in the industry, the IMO 2020 regulation is expected to increase prices of compliant fuels. Subsequently, it is believed that the higher prices will put more financial pressure on buyers’ shoulders. Even if they finally pass the additional cost to their charterers/cargo...
The Chinese oil conglomerate Sinopec, one of the largest refineries in the world, appears to have produced and shipped the first 0.5% sulfur fuels complying with the new IMO standards. Specifically, during January 2019 Sinopec Shanghai Petrochemical Corp shipped 6,000 tons of the...
The expansion of the Panama Canal has also positively affected the local bunker market. Since the opening of the new locks, Monjasa has reported an increase on the supply volumes of bunker fuels, as a result of the increased number of vessels transiting the Canal.