Fuels & Lubes

Japan Working On Technology Innovation To Produce Methane

Japan is working on technology innovation to produce methane, seeking to expand the use of synthetic methane as the primary feedstock for domestic piped gas supplies and as a marine fuel Says a News Article Published On Argus Media on their Website.

Green Growth Strategy -Decarbonize by 2050

Premier Yoshihide Suga’s government yesterday drafted a revised “green growth strategy” aimed at meeting the country’s target to decarbonize by 2050. The strategy was originally released in December last year...

https://mfame.guru/japan-working-on-technology-innovation-to-produce-methane/

Asia Crude Oil: Key Market Indicators May 31-June 4

The Asian middle distillates complex is expected to continue to see the divergence in the week started May 30, reports Platts.

In the gasoil sector, industry sources said the demand recovery in Europe is likely to offset sluggish demand in Asia, while limitations to air travel because of pandemic-related restrictions would continue to weigh on the jet fuel/kerosene market.

Jet fuel/kerosene

The front-month June-July jet fuel/kerosene time spread remained steady day on the day at minus 25 cents/b...

https://mfame.guru/asia-crude-oil-key-market-indicators-may-31-june-4/

Itochu & Partners Ink MoU for Ammonia As a Marine Fuel in Singapore

Japan’s Itochu Corporation signed a memorandum of understanding with five companies to jointly study ammonia as a new marine fuel in Singapore, says a press release published on their website.

Similar MoU with Vopak

The company has already executed a similar MoU with Vopak in 2020, has struck a new agreement with Itochu Enex, Vopak, Pavilion Energy, Mitsui O.S.K. Lines (MOL) and Total Marine Fuels.

Other giants invited

Itochu noted that it has taken a major step into further development of the...

https://mfame.guru/itochu-partners-ink-mou-for-ammonia-as-a-marine-fuel-in-singapore/

[Podcast] China’s 2060 Climate Goals



China’s climate conundrum has become the most important aspect in today’s day to day life.  Carbon neutrality 2060 and its implications for fossil fuels is also given much importance as the stakeholders take adequate measures to ensure carbon neutrality.

Analyst Oceana Zhou along with Frip Yep and Matthew Boyle bring out the interesting features about this topic.

China and its lofty goals

China has laid out some lofty goals for its climate action. In September 2020, it pledged that it...

https://mfame.guru/podcast-chinas-2060-climate-goals/

Marine Fuel Sales in Q1 2021

Sales of traditional marine fuels at Rotterdam port marginally deceased by less than 1% on year during the first quarter of 2021, reports Manifold Times.

Marine fuels

Sales of traditional marine fuels, namely fuel oil, marine gas oil (MGO) and marine diesel oil (MDO), at Rotterdam port marginally deceased by less than 1% (exact: 0.87%) on year during the first quarter (Q1) of 2021, according to Port of Rotterdam Authority data.

Traditional marine fuels

Traditional marine fuels during Q1 2020...

https://mfame.guru/marine-fuel-sales-in-q1-2021/

DNV Grants AiP for LNG Fuel Tank Insulation With Leak Detection System

  • DNV developed a new concept for prismatic ‘type B’ LNG tanks.
  • According to IMO rules, it is required for partial secondary barrier – to avoid leakage in fuel tanks.

DNV has granted an Approval In Principle (AIP) to PASSER Marine for the development of a new LNG fuel tank insulation system, says an article published in DNV.

PASSER Marine COO’s Comments

“The system they had developed was cost-effective and production-friendly,” said Svein Konradsen, COO of PASSER Marine AS.

“The pandemic has been...

https://mfame.guru/dnv-grants-aip-for-lng-fuel-tank-insulation-with-leak-detection-system/

Oil Price Rebounds On Suez Canal Blockage

Oil climbed as investors assessed the impact on global crude flows after a ship ran aground and blocked the Suez Canal, following a sell-off on Tuesday, reports Yahoo Finance.

Markets reprieve 

Crude was also bolstered by positive economic data as Europe posted a record increase in factory output. 

Futures in New York added as much as 3.4% after a ship ran aground, giving the market a reprieve after prices sank to the lowest level since early February. 

For more information read our article Mega...

https://mfame.guru/oil-price-rebounds-on-suez-canal-blockage/

Americas Bunkers March 22-26 Key Market Indicators

  • West Coast ports track Asia lower
  • Weaker US crude segments pressure Latin America
  • Tight supply props up New Orleans premium over Houston

Spot retail bunkers pricing trended lower the week of March 15-19 throughout the Americas, tracking a sharp decline in US energy futures amid demand concerns tied to the ongoing global coronavirus pandemic, reports Platts.

Latin America

Panama

Latin American declines were led by Panama, which saw spot 0.5%S Marine Fuel bunkers pricing shed $35 (6.6%) from March...

https://mfame.guru/americas-bunkers-march-22-26-key-market-indicators/

Techfast Wins 3 Year Marine Fuel Supply Contract

Techfast Holdings Bhd bags an estimated RM2.2 billion worth contract to supply a range of marine fuel oils over a three-year period, says an article published in The Edge Markets.

About the contract

ACE market-listed Techfast Holdings Bhd has bagged a contract worth an estimated RM2.2 billion to supply a range of marine fuel oils over a three-year period to Singapore-based integrated marine fuel logistics provider Wise Marine Pte Ltd. The contract is expected to commence in the second quarter of...

https://mfame.guru/techfast-wins-3-year-marine-fuel-supply-contract/

S. Korean Shipbuilding Back on Track With Increased Eco-friendly Demand

South Korea’s shipbuilding industry is now warming up on the back of increased demand for eco-friendly gas-fueled vessels, reports The Korean Herald.

Orders so far

According to Clarksons Research, the leading information provider for global shipping, orders have been made for 254 ships so far this year, of which gas-fueled vessels account for 54 units or 21.3 percent. 

That figure was 10.1 percent in 2019 and 14.9 percent in 2020.

Dominance in the eco-friendly category

Also, out of the 54 gas-fueled...

https://mfame.guru/s-korean-shipbuilding-back-on-track-with-increased-eco-friendly-demand/

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