ship fuel Archives - Maritime Shipping News

Time to start worrying again about rising cost of ship fuel

7 September 2023

At this time four years ago, before the pandemic and the Ukraine-Russia war stole the headlines, the cost of fuel was the big topic in shipping.

The industry was about to implement a sweeping new global regulation, IMO 2020, requiring the use of more environmentally friendly and more expensive very low sulfur fuel oil (VLSFO), with a sulfur content of 0.5%. Added fuel costs would be passed along to cargo shippers, and ultimately, consumers.

Fuel costs spiked as predicted after the regulation went...

https://www.freightwaves.com/news/time-to-start-worrying-again-about-rising-cost-of-ship-fuel

LNG and Ship Fuel Spreads Hit Record Lows

25 July 2023

Credit: Diogo Hungria/Unsplash

Ship fuel spreads and LNG prices fall to lowest levels in years, states a Freightwaves news source.

Different dynamics for ship fuel as war effect wanes

Fuel is one of the biggest costs in ocean shipping, and fuel pricing has seen some big changes in recent months, featuring new dynamics that haven’t been seen in years.

Prior to the IMO 2020 regulation implemented on Jan. 1, 2020, most of the world’s commercial ships ran on 3.5% sulfur fuel known as high sulfur fuel...

https://mfame.guru/lng-and-ship-fuel-spreads-hit-record-lows/

Ship fuel cost way down from war peak, but ‘green’ fallout looms

31 March 2023

The price of ship fuel is now down to around half the post-Ukraine-invasion peak. Second-quarter fuel surcharges for containerized cargo shippers promise more savings ahead.

That’s the good news. The bad news is that if shipping ultimately switches from fuel oil to LNG or methanol as part of the energy transition, future fuel costs will likely skyrocket back to levels seen after the invasion — or higher.

The common refrain from vessel owners and operators is that cargo shippers will ultimately...

https://www.freightwaves.com/news/ship-fuel-cost-down-from-war-peak-but-green-fallout-looms

Price of ship fuel falling even as Russia-Ukraine war rages on

5 December 2022

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 sinking price of ship fuel: Near prewar levels after summer plunge

23 August 2022

It was yet another warning sign on 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.

According to Ship & Banker, the average price for fuel known as very low sulfur fuel oil (VLSFO, sulfur content: 0.5%) at the world’s top 20 refueling hubs was $800 per ton as of Friday. That’s down 29% from the...

https://www.freightwaves.com/news/the-sinking-price-of-ship-fuel-near-prewar-levels-after-summer-plunge

Russian invasion propels price of ship fuel to historic high

4 March 2022

The price of ship fuel was flirting with a new record even before Russia invaded Ukraine. Then war broke out, and the highs of the past were left far behind. Ship fuel costs have “gone parabolic,” said Braemar ACM Shipbroking.

To the extent the fuel cost increase is passed along to the shippers of containerized goods and bulk commodities such as oil and grain, it will add to inflation. To the extent it’s not passed on, it will lower shipping’s bottom line.

Ships consumed high sulfur fuel oil...

https://www.freightwaves.com/news/russian-invasion-propels-price-of-ship-fuel-to-historic-high

Yet another worry: Price of ship fuel is now highest since 2014

8 October 2021

Commodity prices are surging around the globe, so it should come as no surprise: Marine fuel is getting a lot more expensive. That’s bad news for ship operators’ bottom lines, and, in the container business, yet another headache for cargo shippers.

Marine bunker prices are “soaring,” said Alphatanker on Thursday. “This has not just impacted 3.5% [high-sulfur fuel oil or HSFO] but also 0.5% VLSFO [very low sulfur fuel oil].

“There are expectations that crude, and therefore marine fuel, could move...

https://www.freightwaves.com/news/yet-another-worry-price-of-ship-fuel-is-now-highest-since-2014

Ship fuel prices jump, spread widens. Is ‘scrubber’ revival nigh?

16 January 2021

One year ago — which seems like an eternity ago — no one in ocean shipping was talking about COVID. They were talking, ad nauseum, about fuel. About a massive spike in fuel prices due to a regulatory “tsunami” that would hammer liner companies’ 2020 financial results, inflate the cost of imported goods and steer winners and losers among shipping stocks.

It didn’t happen, courtesy of COVID. Instead, the price of marine fuel collapsed. Shipowners and cargo shippers actually saved money on fuel in...

https://s29755.pcdn.co/news/ship-fuel-prices-jump-spread-widens-is-scrubber-revival-nigh