by John Konrad (gCaptain) Today US secretary of Defense Lloyd J. Austin announced the closure of the Red Hill fuel storage depot in Hawaii, which is the world’s largest underground…
https://gcaptain.com/shutdown-worlds-largest-underground-bunker-fuel-tanks/
By Jack Wittels (Bloomberg) — The shipping industry is starting to feel the full force of surging diesel and gasoline costs. Ship fuel can be made from some of the same…
https://gcaptain.com/soaring-diesel-and-gasoline-prices-are-bleeding-into-shipping/
It should come as no surprise: Just as you’re paying a lot more for gasoline at the pump, ship operators are paying a lot more for marine fuel. In fact, average marine fuel prices are rising even faster than landside fuel prices, and are now just a few dollars below all-time highs.
That’s bad news for shipowners, and to the extent fuel cost is passed on, bad news for cargo shippers, and, ultimately, those who buy imported goods.
The majority of cargo ships burn 0.5% sulfur fuel known as very low...
https://www.freightwaves.com/news/surging-price-of-ship-fuel-poised-to-eclipse-all-time-high
SINGAPORE, Jan 17 (Reuters) – PetroChina International Singapore Pte Ltd climbed three spots to be the top marine fuel supplier in the world’s biggest ship refuelling hub in 2021 while…
https://gcaptain.com/petrochina-intl-tops-singapores-list-of-marine-fuel-suppliers-in-2021/
Singapore has charged two individuals with corruption for allegedly taking bribes in relation to the trading and supplying of bunker fuel. The individuals charged are Muhammad Afzal Bin Mohamed Ekbar,…
Commodity prices are surging around the globe, so it should come as no surprise: Marine fuel is getting a lot more expensive. That’s bad news for ship operators’ bottom lines, and, in the container business, yet another headache for cargo shippers.
Marine bunker prices are “soaring,” said Alphatanker on Thursday. “This has not just impacted 3.5% [high-sulfur fuel oil or HSFO] but also 0.5% VLSFO [very low sulfur fuel oil].
“There are expectations that crude, and therefore marine fuel, could move...
https://www.freightwaves.com/news/yet-another-worry-price-of-ship-fuel-is-now-highest-since-2014
by Roslan Khasawneh (Reuters) Nine people have been sentenced in Singapore to up to three years in jail for cheating buyers out of $337,000 worth of shipping fuel, authorities said in…
V-Bunkers, the Singaporean bunker arm of Dutch-based Vitol, has placed an order to build two electric-hybrid bunker tankers. V-Bunkers intends to deploy these bunker tankers for harbor operations in Singapore,…
What will Asia do with an oversupply of diesel and what does it mean for the tanker market or bunker rates?
By Bloomberg News (Bloomberg) — Singapore is facing the greatest competition yet to its status as the dominant marine fuel supplier in Asia, with China luring more ships to its shores…