Fuels & Lubes

Why Supertankers Are Losing Almost $7,000 a Day?

  • Daily earnings slumped to the lowest since at least 2017.
  • Rates hit by OPEC production cuts and an oversupply of vessels.

Supertanker’s loss deepened to $6,779 a day amid OPEC cuts, writes Alex Longley for an article published in Bloomberg.

What is the reason?

With too many vessels to haul fuel, losses for supertankers on a benchmark Middle East-to-China route deepened to $6,779 a day on Tuesday. 

Weakest earnings

That’s the weakest earnings since at least 2017 and effectively means vessel owners...

https://mfame.guru/why-supertankers-are-losing-almost-7000-a-day/

Phenols In Singapore Bunker Fuel Samples, Alerts Testing Firm

Maritec Pte Ltd (Maritec) said it has tested and has evidence of Phenols appearing in several Singapore VLSFO samples in Jan/Feb 2021, says an article published in Ship & Bunker.

Two consecutive instances recorded

Maritec reports it has recorded two consecutive instances of the same barge/supplier product testing at 385 and 111ppm.

What is the risk?

“At these high concentrations there is an increased risk of the fuel losing its stability and breaking down leading to deposits in fuel system filters...

https://mfame.guru/phenols-in-singapore-bunker-fuel-samples-alerts-testing-firm/

Maritime Giants Sign MoU To Explore Ammonia

Maritime industry leaders announced their Memorandum of Understanding (MoU) to jointly explore ammonia as marine fuel in Singapore, says a press release published on Maersk website.

Who are working together?

The below companies announced that on Wednesday (10 March), the parties have entered into a Memorandum of Understanding (MoU).

  • A.P. Moller – Maersk A/S, 
  • Fleet Management Limited, 
  • Keppel Offshore & Marine, 
  • Maersk Mc-Kinney Moller Center for Zero Carbon Shipping, 
  • Sumitomo Corporation and 
  • Ya...

https://mfame.guru/maritime-giants-sign-mou-to-explore-ammonia/

LPG Shipping Firm Orders for 3 Dual Fuel LPG Carriers

Petredec Holdings opts to construct an additional three 93,000 cu m LPG carriers with dual fuel LPG propulsion at China’s Jiangnan Shipyard, reports Splash 247.

Construction of LPG carriers

LPG shipping and trading firm Petredec Holdings has exercised its option to construct an additional three 93,000 cu m LPG carriers with dual fuel LPG propulsion at China’s Jiangnan Shipyard.

Delivery of the three vessels are scheduled in June, August and September 2023.

Previous orders

The latest order follows...

https://mfame.guru/lpg-shipping-firm-orders-for-3-dual-fuel-lpg-carriers/

Mere Lab Level Tests Scant for New VLSFO Lubricants, Says Viswa Group

  • Importance of lubricant testing for low sulphur bunker fuel.
  • Mere lab level tests are not enough for newly formulated lubricating oils.
  • Lubricant & additive companies developing new cylinder oils with new additive packages to take care of new VLSFOs.
  • Bench tests need modification to accommodate the new fuel characteristics.
  • Testing processes, methods, and procedures upgradation.

Viswa Group highlights the importance of lubricant testing for LSFO and also emphasizes that mere lab level tests...

https://mfame.guru/mere-lab-level-tests-scant-for-new-vlsfo-lubricants-says-viswa-group/

Restore Clean Energy Transition, Urges Leading Global Renewable Bodies

Global renewables bodies urge Mexico to restore clean energy transition, says an article published on the GlobalSolarCouncil website.

Away from polluting fossil fuels

The Global Wind Energy Council and The Global Solar Council, jointly called Mexico to urgently restore the country’s transition away from expensive and polluting fossil fuels, and reset the course to a sustainable future based on competitive, clean renewable energy.

The two leading global renewable energy bodies issued a joint...

https://mfame.guru/restore-clean-energy-transition-urges-leading-global-renewable-bodies/

U.S. Petroleum Imports Will Be More Than Exports, Forecasts EIA

EIA forecasts the U.S. will import more petroleum than it exports in 2021 and 2022, says an article published on their website.

Status changed in 2020 

Usually, the United States has imported more petroleum than it has exported. That status changed in 2020. 

The U.S. Energy Information Administration’s (EIA) February 2021 Short-Term Energy Outlook (STEO) estimates that 2020 marked the first year that the United States exported more petroleum than it imported on an annual basis. 

Reason for increase...

https://mfame.guru/u-s-petroleum-imports-will-be-more-than-exports-forecasts-eia/

ONE’s Biofuel Trial Hailed As Successful

Ocean Network Express (ONE) trials GoodFuels’s biofuel, says a press release published on their website.

The 2-month trial

The two-month trial was carried out on the 4,803 teu MOL Experience. Bunkering was carried out at the port of Rotterdam in November.

About the mixture

During this first trial, the sustainable biofuel was blended with conventional fossil fuels enabling the MOL Experience to make its Atlantic crossings between Europe and the US.

The liner stated, “The success of the trial proves...

https://mfame.guru/ones-biofuel-trial-hailed-as-successful/

Yara Steps Into The Low-carbon Ammonia Sector

Yara is stepping into the low-carbon ammonia sector, announcing a new division focused on green ammonia as a marine fuel and fertilizer, says an article published in Maritime Executive.

Yara Clean Ammonia

Svein Tore Holsether, President and Chief Executive Officer of Yara said, “I am . . . pleased to announce we are taking further steps to enable the hydrogen economy, establishing a new global unit – Yara Clean Ammonia – to capture growth opportunities within carbon-free food solutions, shipping...

https://mfame.guru/yara-steps-into-the-low-carbon-ammonia-sector/

Sea Oil Petroleum Acquires Pro Fuels AS’s Trading Business

  • Bangkok-based Sea Oil Public Company Limited’s Singapore subsidiary, Sea Oil Petroleum Pte Ltd, acquires Pro Fuels AS’s trading business and operations.
  • As part of the acquisition, Sea Oil Petroleum AS has been established and the former Pro Fuels team will transfer as new employees to the company.
  • Pro Fuels AS was established in Norway in 2018 by a group of experienced individuals with a strong background within the marine fuel industry.
  • It has been for the last three decades and the company...

https://mfame.guru/sea-oil-petroleum-acquires-pro-fuels-ass-trading-business/

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