Fuel News

Benchmark retail diesel price sees another downturn

With diesel prices in the futures market heading lower after an earlier increase that at one point had lifted levels by 35 cents a gallon, retail prices are now trending lower as well.

The weekly Department of Energy/Energy Information Administration average retail diesel price fell 4.7 cents Monday to $3.779 a gallon. It’s the second consecutive decrease after four weeks of increases.

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https://www.freightwaves.com/news/benchmark-retail-diesel-price-sees-another-downturn

GCMD & Hapag-Lloyd Complete Rotterdam Marine Biofuel Trial

  • The Global Centre for Maritime Decarbonisation (GCMD) has successfully completed its final supply chain trial for biofuel blended with very low sulphur fuel oil (VLSFO).
  • This marks the end of a series of trials initiated in July 2022 as part of a larger pilot to develop a framework to provide quality, quantity and GHG abatement assurances for drop-in fuels.

The Global Centre for Maritime Decarbonisation (GCMD) has completed the biofuel blend supply chain trial launched two years ago, reads an...

https://mfame.guru/gcmd-hapag-lloyd-complete-rotterdam-marine-biofuel-trial/

Fujairah’s Bunker Fuel Sales Report

In June, Fujairah’s total bunker fuel sales experienced a slight decline of 1% from the previous month, totaling 601,000 metric tons (mt), as reported by the Fujairah Oil Industry Zone (FOIZ) and S&P Global Commodity Insights. This reduction was primarily driven by a significant decrease in high-sulfur fuel oil (HSFO) sales.

HSFO Sales

HSFO sales fell by 9% to 149,000 mt, marking a drop of 14,000 mt from May and the lowest sales volume since June of the previous year. The daily HSFO sales rate in...

https://mfame.guru/fujairahs-bunker-fuel-sales-report/

Diesel prices fall after 4-week rise

After four weeks of increases, the price used for most fuel surcharges fell in the latest posting by the Department of Energy/Energy Information Administration. 

The average weekly retail diesel price posted by DOE/EIA declined 3.9 cts/gallon to $3.826. It puts the price just two cents more than where it stood last year at this point in the calendar. 

After going through a period of volatility that could be measured in years, oil markets have fallen into a tight trading range that one leading...

https://www.freightwaves.com/news/diesel-prices-fall-after-4-week-rise

Cummins gets $75 million for zero-emissions manufacturing after record fine

Cummins Inc., an engine-maker and power distribution company that was fined a record $1.675 billion for emissions violations, has received a $75 million Department of Energy grant for zero-emissions manufacturing. 

The company will match the grant to convert approximately 360,000 square feet of its manufacturing space in Columbus, Indiana, the company announced. The funds will enable the company to expand production of battery packs and powertrain systems for Accelera by Cummins, the company’s...

https://www.freightwaves.com/news/cummins-gets-75-million-for-zero-emissions-manufacturing-after-record-fine

MSC Settles $696m Purchase Of Gram Car Carriers

  • MSC, via its SAS Shipping Agencies Services subsidiary, announced the settlement of its acquisition of Gram Car Carriers.
  • The acquisition, for NOK263.9 ($24.56) per share, or a total of $696.3m, is for some 97% of the total shares.

MSC, via its SAS Shipping Agencies Services subsidiary, announced the settlement of its acquisition of Gram Car Carriers, which will be completed on 25 July, reports the Loadstar.

MSC settles $696m purchase of PCTC provider

The acquisition, for NOK263.9 ($24.56) per...

https://mfame.guru/msc-settles-696m-purchase-of-gram-car-carriers/

Wind-Assisted Propulsion: Sailing The Winds Of Change

Several shipping companies are exploring wind-assisted propulsion to increase the odds of complying with near-term FuelEU Maritime targets, reports Engine.

Technology-neutral approach to achieve these GHG intensity reductions

The EU’s FuelEU Maritime regulation, which takes effect in just over 150 days, mandates ships to reduce the greenhouse gas (GHG) intensity of the energy used onboard. The reduction sets a 2% target for the period 2025-2030 compared to 2020 levels, increasing incrementally...

https://mfame.guru/wind-assisted-propulsion-sailing-the-winds-of-change/

Benchmark diesel up 4 straight weeks, at highest price since early May

Retail diesel prices measured by the benchmark Department of Energy/Energy Information Administration average price have now risen four consecutive weeks.

This week’s number was up 5.2 cents a gallon to $3.865. It’s the highest level since a posting of $3.894 on May 6.

The four consecutive weeks of increases in the price used for most fuel surcharges have added 20.7 cents a gallon to the DOE/EIA price. It follows nine consecutive weeks of declines.

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https://www.freightwaves.com/news/benchmark-diesel-up-4-straight-weeks-at-highest-price-since-early-may

Biofuel Bunker Snapshot: Spot Demand Remains Low In Singapore

Singapore

Singapore’s B24-VLSFO UCOME and B24-LSMGO UCOME prices have gained by $10–11/mt in the past week. Spot bio-bunker demand remains low in Singapore, with most stems being booked for term supply contracts, two sources say. These term contracts are mostly for container lines.

Some European buyers are shying away from Chinese biodiesel, and this is an important outlet for Chinese sellers, who have taken a hit. Uncertainty around the EU’s anti-dumping provisions on Chinese biodiesel imports...

https://mfame.guru/biofuel-bunker-snapshot-spot-demand-remains-low-in-singapore/

Diesel benchmark up third straight week, but demand figures look weak

Retail diesel prices measured by the Department of Energy/Energy Information Administration average retail price now have moved higher for three consecutive weeks, but it doesn’t appear to be on the back of higher consumption.

The weekly DOE/EIA diesel price, used as the basis for most fuel surcharges, climbed 4.4 cents a gallon Monday to $3.813. Three weeks of increases followed nine weeks of declines.

And while it was not a factor in the retail prices surveyed by the EIA to produce its closely...

https://www.freightwaves.com/news/diesel-benchmark-up-third-straight-week-but-demand-figures-look-weak

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