The IMO’s low sulfur fuel regulation has caused a lot of debates among the players of the fuel supply chain. Most of the shipowners, ship-managers and charterers have reacted with skepticism and criticism due to the structural changes that the new regulations will bring to the -already...
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...
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...
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...
According to FleetMon the SEA FRONTIER operated by Star Formula Marine Services struck a rock some in the easternmost part of Singapore Strait, on 30th January 2019, while approaching port. Tradewinds news reports that: "...all crew rescued from partially submerged vessel and no oil has been spilled. Swift action taken to beach a...
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...
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...
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...
Monjasa, the Danish bunker trader, has reported a big rise in bunker fuel sales during 2018. The company said that it sold a total of 4.1m tons, which is estimated as a 17% increase on annual basis. Year 2018 was great for Monjasa, despite...
With the concerns over the quality and compatibility of the IMO 2020 compliant fuels to continue and with ‘bad bunkers’ cases still in the news, ExxonMobil has decided to transform its business model and focus on growing its direct bunker sales. With this, the company desires to...