Container Shortage Makes Carrier Prices Only Valid for a Week

  • Vessel Shortages expected through Lunar New Year
  • Freight rates doubled in major Asian routes. 
  • Asian polymers hit by delays, price rises
  • Maersk’s Taiwan-India rate tops $4,000/FEU
  • The extremely volatile market is making prices valid only for a week. 
  • The container Shortage is likely to spill over the first quarter of 2021.

According to a Platts report, vessel capacity shortages and trade disruptions in Asia’s container shipping markets are impacting the region’s polymer trade flows and prices,...

https://mfame.guru/container-shortage-makes-carrier-prices-only-valid-for-a-week/?amp;amp;

DNA Tracing Technology To Ensure Quality Marine Fuels

  • Using chemical tags to trace fuels will facilitate industry adoption of environmentally sustainable fuels.
  • Experts agreed during Riviera’s Biofuels: entering the maritime fuel mainstream webinar.
  • Technology enabling shipping companies to check the quality and quantity of fuel will be important for conventional fuel bunkering.
  • It can also qualify the sustainability of feedstocks for biofuels.

According to a recent news article written by Martyn Wingrove DNA tracing assures biofuel quality and...

https://mfame.guru/dna-tracing-technology-to-ensure-quality-marine-fuels/?amp;amp;

Export of Tianjin Blended Bunker Fuel Begins in China

  • China in early November said 35,000 metric tonnes (mt) of Tianjin -blended bunker fuel was loaded from the state-owned Sinochem Tianjin Port Petrochemical Warehouse.
  • It was loaded onto its Lipingtan tanker to be exported to the Yangtze Delta in the south.
  • This marks the official entry of bunker fuel produced in Tianjin into the international export market in the south as it was previously only exported to ports in the northern region.
  • The process of loading the fuel onto the tanker through the...

https://mfame.guru/export-of-tianjin-blended-bunker-fuel-begins-in-china/?amp;amp;

China’s INE Mulls Singapore Port for Marine Fuel Futures Delivery

  • The Shanghai INE is considering taking Singapore as a delivery point for its low sulfur marine fuel futures contract.
  • The move would be the first time a Chinese futures contract would be deliverable outside of China and could boost liquidity for the contract.

The Shanghai International Energy Exchange (INE) is considering using oil storage sites in Singapore owned by PetroChina Co as a delivery point for its low-sulphur fuel oil futures contract, reports Reuters.

Delivery point for LSFO

The move...

https://mfame.guru/chinas-ine-mulls-singapore-port-for-marine-fuel-futures-delivery/?amp;amp;

Fujairah Oil Stocks Dips Further To a 21-Month Low

  • Fuel oil stocks at the Middle Eastern hub of Fujairah have dropped to the lowest level in almost two years, according to data from the
  • Fujairah Oil Industry Zone and price reporting agency S&P Global Platts.
  • Heavy distillate and residue stocks sank by 8.7% to 8.166 million barrels in the week to Monday, Platts reported Wednesday, the lowest since February 2019.

According to a recent Ship and Bunker news report, Fujairah Oil prices hits a new low in last 21 months.

Oil prices sinks

The level...

https://mfame.guru/fujairah-oil-stocks-dips-further-to-a-21-month-low/?amp;amp;

Oil Prices Soar Amid OPEC Delays & COVID19 Vaccine Hopes

  • Pfizer and Moderna say their COVID-19 vaccine is 95% effective.
  • Saudi Arabia urges OPEC+ to be flexible on output.
  • U.S. crude stocks rise and distillate inventories plunge.

Oil prices firmed by about 1% on Nov 18 on hopes OPEC and its allies will delay a planned increase in oil output and after Pfizer said its COVID-19 vaccine was more effective, reports Reuters.

The market was also supported by a smaller-than-expected increase in U.S. crude stockpiles last week.

COVID vaccine trials successful

Br...

https://mfame.guru/oil-prices-soar-amid-opec-delays-covid19-vaccine-hopes/?amp;amp;

Air Lubrication Technology in Ships To Reduce Fuel Consumption by 5 to 10%

  • Water is not as yielding as you think, says Noah Silberschmidt, founder and CEO of UK-based Silverstream Technologies.
  • For more than a century, gigantic steel vessels have been ploughing the oceans, generating seemingly unavoidable and surprisingly costly—friction between ship and sea.
  • But this friction can be reduced in an innovative way, says Silberschmidt, with the help of millions of tiny bubbles, each just a millimeter across.
  • With the push to make shipping more efficient, ship owners are...

https://mfame.guru/air-lubrication-technology-in-ships-to-reduce-fuel-consumption-by-5-to-10/?amp;amp;

New Ethylene Terminal at Houston Channel To Be Scaled Up

  • Ethylene terminal has exported more than 300,000 mt so far in 2020.
  • Terminal to reach nameplate 1 million mt/year capacity in December.

Enterprise Products Partners and Navigator Gas have exported more than 300,000 mt of ethylene from their joint-venture terminal near the mouth of the Houston Ship Channel this year, reports Platts.

Plans of terminal expansion

Navigator CEO Henry Deans, on Nov. 13, said they may consider expanding the terminal if outflows continue growing.

The most obvious...

https://mfame.guru/new-ethylene-terminal-at-houston-channel-to-be-scaled-up/?amp;amp;

Call for $2/mt Levy on Marine Fuel To Tackle Decarbonisation

  • International shipowner associations call governments to back their proposal to place a $2/mt levy on marine fuel used to help fund industry efforts for decarbonisation.
  • Presuming global bunker consumption volume remained at least 250 million mt/year, the levy would generate approximately USD 5 billion over a 10-year period.
  • The proposal, originally put forward last year, will be discussed by IMO this week at the 75th session of the Marine Environment Protection Committee (MEPC75).
  • The fund...

https://mfame.guru/call-for-2-mt-levy-on-marine-fuel-to-tackle-decarbonisation/?amp;amp;

Excess of Minor Sulphur Content May Force Ships To Debunker

  • At the IBIA Annual Convention 2020 on Wednesday, one law firm suggested fear of port state control authorities (PSCs) may be causing ships to debunker fuel.
  • It might be even in cases of minor infringement of the 0.50% sulfur limit for bunkers.
  • A ship had bought some VLSFO in St Petersburg that was subsequently tested as having a sulfur content of 0.51-0.53%.
  • The standard used in bunker trades would treat this sulfur level as acceptable despite being slightly over the limit, but the authorities...

https://mfame.guru/excess-of-minor-sulphur-content-may-force-ships-to-debunker/?amp;amp;