G20-VLSFO Index Advances for Fifth Session, highlights a Ship and Bunker news source.
Bunker fuel prices advanced at most ports on FridayBunker fuel prices advanced at most ports on Friday, with global average VLSFO prices
climbing for a fifth consecutive session.
Ship & Bunker’s G20-VLSFO Index of prices across 20 leading bunkering ports gained $6/mt to $687/mt on Friday, reaching the highest level since February 2. The G20-HSFO Index rose by $3.50/mt to $603.50/mt, while the...
According to an article published in Argus Media, Sales of marine fuels at the port of Singapore totalled 4.07mn t in May, down by around 4pc or 185,000t from April, according to preliminary data from Singapore’s Maritime and Port Authority (MPA).
VLSFO SalesSales of very low-sulphur fuel oil (VLSFO) reached 2.78mn t in...
https://mfame.guru/singapores-bunker-fuel-sales-drops-out-in-may/
The Suez Canal logjam since the week starting March 21, caused by the Ever Given cargo vessel, could potentially increase bunker fuel demand in Singapore as more ships will likely divert around the Cape of Good Hope, making the city-port a feasible refueling destination, given the longer journey, reports S&P Global.
The blockage is no moreThe Ever Given, an about 20,000 twenty-foot equivalent units container ship chartered by Taiwan’s Evergreen Marine, ran aground in the Suez Canal at about...
https://mfame.guru/suez-canal-blockage-may-help-increase-bunker-fuel-demand-in-singapore/
Germany waves of traffic dues for passing through Kiel Canal due to this year’s low bunker prices, says an article published in the Port of Hamburg.
Dues suspensionAccording to the port authority, the traffic dues will be suspended from this month (01.07.2020) until the end of the year (31.12.2020).
Maritime economy under pressureJens Broder Knudsen, Chairman of the Kiel-Canal Initiative said, “Caused by the Corona crisis, the maritime economy is under massive cost pressure and traffic on the...
https://mfame.guru/kiel-canal-traffic-dues-suspended-waterway-now-more-competitive/
According to BIMCO’s latest publication on their website, Tiejha Smyth deputy director in the Freight, Demurrage and Defence (FD&D) department of the North of England P&I Club says, the industry will see the first “live issues” between charterers and ship owners over the switch to low-sulphur fuel in the last quarter of 2019.
Help and supportTiejha Smyth predicts that the industry will see operational and logistical issues that end up with significant impact on charter parties and commercial...
http://mfame.guru/live-issues-predicted-over-2020-transition/
Late last month, the investment bank Goldman Sachs had advised shipowners who have installed scrubbers in their vessels to avoid hedging their fuel requirements in 2020 so as to maximize savings, writes Lee Hong Liang, the Asia Correspondent of Seatrade Maritime News.
Why this advice?The advice comes as the IMO is set to enforce the use of 0.5% sulphur content fuel from 2020, prompting some owners to install scrubbers in order to continue using the cheaper 3.5% sulphur fuel, as opposed to the...
http://mfame.guru/goldman-sachs-advises-against-sulphur-2020-fuel-hedging-by-scrubber-owners/