Another surge of scrubber retrofit orders seems to be on the cards as owners […]
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When Russia invaded Ukraine, the price of ship fuel spiked to unprecedented highs. Prices are still high in historical terms, but they’ve now fallen back to prewar levels. Ship fuel is getting cheaper as fears of future demand weakness drag down the price of oil.
Ship & Bunker put Friday’s average price of very low sulfur fuel oil (VLSFO) — the fuel used by most commercial ships — at $685.50 per ton (based on prices at the top 20 refueling hubs). That’s down 39% from the all-time high on June 14...
https://www.freightwaves.com/news/as-russia-ukraine-war-rages-on-the-price-of-ship-fuel-is-falling
The UAE’s Port of Fujairah is getting so crowded with Russian vessels carrying oil products that other shippers are getting crowded out, pushing up premiums for HSFO bunker fuels that have been in more demand than the low sulfur grade, port agents told S&P Global Commodity Insights.
ConsequencesThe congestion has pushed up HSFO prices, with the Platts Fujairah-delivered 380 CST HSFO premium against the FO 380 CST 3.5% FOB Arab Gulf cargo assessments averaging $62.78/mt over Sept. 1-14, almost...
https://mfame.guru/hsfo-premiums-skyrocket-as-russian-supplies-move-in/
It was yet another warning sign of inflation: The price of fuel for commercial ships spiked after Russia invaded Ukraine and hit all-time highs in May and June. But that trend has now reversed. The price of ship fuel plunged in July and August and is now back to roughly prewar levels, says an article published in Freightwaves.
VLSFOAccording to Ship & Bunker, the average price for fuel known as very low sulfur fuel oil (VLSFO, sulfur content: 0.5%) at the world’s top 20 refuelling hubs was $800...
https://mfame.guru/in-the-wake-of-war-ship-fuel-prices-plunges/
The Maritime and Port Authority of Singapore (MPA) says it has tracked down the source of the contaminated HSFO bunker fuel identified in March by leading marine fuel testing provider VPS.
The MPA says it was notified on March 14, that a number of ships had been supplied with high sulfur fuel oil (HSFO) containing high concentration levels of chlorinated organic compounds (COC) in the Port of Singapore. MPA has conducted investigations and identified the source of the contamination.
MPA...
Niels Rasmussen, chief shipping analyst at BIMCO, says that the current $200 per tonne price spread between very low sulfur fuel oil (VLSFO) and high-sulfur fuel oil (HSFO) is increasing the advantage of ships fitted with exhaust gas scrubbers.
The price gap between VLSFO and HFSO has widened following Russia’s invasion of Ukraine, although the price of HSFO could rise should the volumes of Russian HSFO coming into the market start declining due to sanctions.
The entry into force of the IMO 2020 f...
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To view more FreightWaves infographics, click here.
Just as the cost of gasoline has risen at the local pump, so too has the cost of marine fuel at the ports. The world’s container ships, tankers and dry bulk carriers are spending more to cross the oceans than they have since 2013.
According to Ship & Bunker, the price of 0.5% sulfur fuel known as VLSFO (very low sulfur fuel oil) at the world’s top 20 ports averaged $619.50 per ton on Friday, up 47% from the beginning of this year. The top-20 VLSFO average hit a recent high of $639 per ton on...
https://www.freightwaves.com/news/ship-fuel-price-highest-since-2013-scrubber-spread-widens
The price of Brent crude topped $72 per barrel Thursday, with West Texas Intermediate above $70. As the price of oil goes, so goes the price of marine fuel and that means higher costs for ship operators, and in the case of the container sector, more fuel surcharges passed along to cargo shippers, reports Freight Waves.
Higher bunker (marine fuel) costs affect different shipping segments differently. American Shipper looked at each segment, and for a broader perspective on where pricing will go...
https://mfame.guru/impact-of-70-oil-on-containers-tankers-dry-bulk-transport/
According to an article published in Argus Media, Sales of marine fuels at the port of Singapore totalled 4.07mn t in May, down by around 4pc or 185,000t from April, according to preliminary data from Singapore’s Maritime and Port Authority (MPA).
VLSFO SalesSales of very low-sulphur fuel oil (VLSFO) reached 2.78mn t in...
https://mfame.guru/singapores-bunker-fuel-sales-drops-out-in-may/