MGO

American Bunker Market Witness Spike in Spot Fuel Prices

Key ports throughout the Americas saw spot retail marine fuel pricing climb during the week January 4-8, with bunkers values tracking stronger US energy futures higher, reports Platts.

Latin America

Latin America bunker prices are starting the week supported by an energy complex that saw ICE Brent futures jump 9.6% from January 1 to January 8, and a 9.4% climb in wholesale marine fuel 0.5%S on the US Gulf Coast.

Advances were more moderate in the region, dictated by countries’ fundamentals.

Marine...

https://mfame.guru/american-bunker-market-witness-spike-in-spot-fuel-prices/

Bunker Sales in Panama Fell About 19.2% in November 2020

According to Panama Maritime Authority (PMA), bunker sales in Panama fell by about 19.2% on year in November 2020, says an article published in Manifold Times.

Fall in bunker sales

Following several months of continued growth, bunker sales in Panama fell sharply in November 2020.

According to the latest data from La Autoridad Marítima de Panamá, also known as the Panama Maritime Authority (PMA), Bunker sales at Panama fell by about 19.2% in November 2020.

Total bunker sales

Total bunker sales at...

https://mfame.guru/bunker-sales-in-panama-fell-about-19-2-in-november-2020/

Stone Oil Launches New Offshore Bunkering

  • US physical supplier John W. Stone Oil Distributor LLC (Stone Oil) announced it has launched a new offshore Texas bunkering business.
  • The company employs its articulated tug/barge Gulf Venture/Gulf Carrier at fairway anchorages and lightering zones.
  • The Jones Act-compliant barge, built in 2016, can carry just over 83,000 bl of fuel and has four pumps and oil heaters.
  • The company already supplies VLSFO, MGO and high-sulphur fuel oil throughout the Mississippi river and elsewhere along the US...

https://mfame.guru/stone-oil-launches-new-offshore-bunkering/

Green Ammonia To Power 30% Global Fleet by 2050

  • Renewable ammonia could eventually power 30% of the global maritime fleet.
  • Green ammonia would have a cost similar to today’s compliant oil-based bunkers.
  • Report estimates the cost of today’s conventional ammonia already comparable to VLSFO or MGO.
  • Leading engine manufacturers getting ready with their first engines for commercial use.  

Green ammonia could eventually power 30% of the merchant fleet by 2050, reports Splash 247.

Ammonia to power 30% fleet

A new report by Alfa Laval, Hafnia, Haldor...

https://mfame.guru/green-ammonia-to-power-30-global-fleet-by-2050/

World Oil and Bunker Market Witnesses An Upward Trend

  • OPEC and key ally Russia moved a conference call to discuss future output cuts.
  • Brent for August settlement increased by $1.25 to $39.57 a barrel.
  • West Texas Intermediate for July rose by $1.37 to $36.81 a barrel on the New York Mercantile Exchange.
  • The Brent benchmark traded at the premium of $2.76 to WTI. Gasoil for June delivery added $20.25.
  • Oil prices have soared thanks to record supply cuts by OPEC+.
  • U.S. sanctions choked exports and two Mexican firms that had acted as intermediaries for...

https://mfame.guru/world-oil-and-bunker-market-witnesses-an-upward-trend/

BIMCO: Colapso del mercado del petróleo favoreció la regulación OMI 2020

Según BIMCO, El colapso del mercado petrolero ha desencadenado una disminución en los precios de los combustibles marinos que cumplen con la regulación de azufre de la OMI 2020 (Vea Artículo: Qué es la regulación OMI 2020), lo que proporciona cierta facilidad para los armadores en la crisis...

https://fullavantenews.com/bimco-el-colapso-del-mercado-del-petroleo-favorecio-regulacion-omi2020/?lang=es

Seanergy Maritime Has 50% of Its Fleet Scrubbers Fitted

  • Seanergy Maritime Holdings Corp has completed its IMO 2020 compliance plan by installing scrubbers.
  • The costs of the scrubber program were borne by the vessels’ charterers under long term time-charters
  • The total investment by the charterers in Seanergy’s vessels exceeded $14m. 
  • Open-loop U-type scrubbers designs built by Hyundai Materials Corporation of South Korea were fitted.
  • The installations took place at Yiu Lian shipyard in Zhoushan, China.
  • Sufficient quality of marine gas oil (MGO) at...

http://mfame.guru/seanergy-maritime-has-50-of-its-fleet-scrubbers-fitted/

Container Feeder Vessel Pockets $3000/Day for LNG

The container feeder vessel MV Wes Amelie saved its operators an average of €2,750/day ($3,059/day) by burning liquefied natural gas (LNG) rather than marine gasoil (MGO) in 2019, reports Ship&Bunker.

The ship was converted to run on LNG in 2017 and consumes an average of 10 mt/day, its owner, Wessels Marine said.

LNG as marine fuel

“Competitive prices, that is one of two important elements that the ongoing spread of LNG as marine fuel needs,” the company said on its website.

“And the price for LNG...

http://mfame.guru/container-feeder-vessel-pockets-3000-day-for-lng/

Compliant Bunker Fuel Prices Narrow Down Amid Conflicts

  • 0.5% sulfur fuel oil and marine gasoil prices shrink amid high demand for VLSFO.
  • It is further fueled by slack market conditions for middle distillates.
  • 0.5% marine fuel FOB Rotterdam barges at $21/mt Wednesday.
  • Mediterranean has seen the most pronounced tightness for 0.5%S bunkers, with spreads of around $10 between VLSFO and MGO at some ports in 2020.

According to an article published in Platts, the start of 2020 has seen the spread between the main compliant bunker fuels, 0.5% sulfur fuel...

http://mfame.guru/compliant-bunker-fuel-prices-narrow-down-amid-conflicts/

VLSFO-MGO Prices Surge As Discount Vanishes

According to a Seatrade Maritime News report, with the coming into force of IMO 2020 very low sulphur fuel oil (VLFSO) prices have surged since mid-December nullifying the discount to marine gas oil (MGO).

Price Rise

While both VLSFO and MGO prices have climbed steadily over the last few weeks, rises have been higher for the former with the two types of fuel now trading at roughly equal prices.

  • In Singapore, the world’s largest bunkering port, price indications for VLSFO touched a high of $742...

http://mfame.guru/vlsfo-mgo-prices-surge-as-discount-vanishes/

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