S&P Global Platts, an independent energy markets information provider, has launched time charter equivalent (TCE) assessments for Newcastlemax class dry bulk ships using LNG as bunker fuel. The…
https://www.offshore-energy.biz/platts-introduces-lng-fuel-vessels-based-tce/
Container vessel time charter rates have risen to 10-year highs amid an ongoing bull run in container freight markets, says an article published in SPGlobal.
Charter Rates AssessmentsTime charter rates for a ship with a capacity of 8,500 twenty-foot equivalent units registered at $54,000/d is the highest assessment in more than 10 years.
This represents a 151% increase over the year-ago assessment, when the chartering cost for an 8,500 TEU ship was $21,500/d.
Second half of 2020 surged demand for...https://mfame.guru/container-vessel-charter-rates-rises-more-than-10-year-highs/
S&P Global Platts Atlantic LNG MOC saw a total of 57 bids/offers in March, making it the highest monthly volume ever, says an article published in their website.
Northwest Europe stands up to $6.301/MMBtuOf the 57,.49 volumes were for Northwest Europe, with the rest of the volume destined to the Mediterranean.
According to Platts data, “the DES Northwest Europe stood at $6.301/MMBtu on March 31, up $1.064/MMBtu when compared to Feb. 26.”
Increased activitySellers of US volume would have been...
S&P Global Platts has launched a new daily Time Charter Equivalent (TCE) assessment, says an article published on their website.
Editorial director of S&P Global on launch“The European tanker market has lacked relevant pricing that reflects the market fundamentals of net daily revenues of crude vessels operating on the key routes in the region. We are pleased to launch these world-first assessments in response to growing interest from market participants wanting transparency on tanker earnings...
https://mfame.guru/sp-global-platts-launches-tanker-tce-assessments/
At the 12th Fujairah International Bunkering and Fuel Oil Virtual Forum (FUJCON 2021) held on Tuesday (23 March) and Wednesday (24 March) Captain Salem Al Hamoudi, Director, Fujairah Oil Industry Zone announced the Port of Fujairah has partnered with S&P Global Platts to jointly publish monthly bunker sales and lubricant volumes, reports Manifold Times.
Increased TransparencyThe data will be made available on the 20th of each month, as part of the Emirate’s push to drive for increased...
https://mfame.guru/fujairah-announced-to-publish-monthly-bunker-sales-volume/
In the movie “Spinal Tap,” guitarist Nigel Tufnel shows off an amp with a dial that goes from zero to 11. “It’s one louder,” he boasts. When asked why the amp strength for 10 is not simply increased, he replies, “These go to 11.”
In ocean shipping, the dial can swing in the opposite direction. Reported freight rates are sometimes below zero. Is this just a measurement mirage, à la Tufnel’s amp? Or do rates actually go negative, with shipowners effectively paying to move someone else’s cargo?
Negat...
https://s29755.pcdn.co/news/minus-7400-a-day-how-can-shipping-rates-fall-below-zero
Jet fuel values which dropped significantly in the first part of last year have left negative territory vis-a-vis ICE low sulfur (LS) gasoil to project a reasonable premium over the gasoil benchmark, according to price reporting agency S&P Global Platts.
The pandemic decimated consumer demand for jet travel, as well as cruise, leaving the former sector’s fuel with nowhwere to go.
Emma Thomas CommentsDuring the first phase of the pandemic, “jet fuel values had gone negative to $80 per metric tonne...
https://mfame.guru/jet-fuel-regains-premium-over-the-gasoil-benchmark/
The volume of Asian fuel oil trades recorded through the S&P Global Platts market-on-close (MOC) price assessment system almost halved last year as the shipping industry shifted its fuel type, says an article published in ship & bunker.
Singapore MOCPlatts recorded 7.33 million mt of 180 CST and 380 CST HSFO and VLSFO trades in its Singapore MOC last year, down by 46% from 2019’s level, news agency Reuters reported Thursday.
Pandemic and the downfall
The COVID-19 pandemic and the downfall of...
https://mfame.guru/moc-price-assessment-system-almost-halved-last-year/
An unprecedented shortage of liquefied natural gas tankers has made them the most expensive ships ever hired to ferry commodities, reports Bloomberg.
Spot rates have more than tripled in the past month, with BP Plc last week paying $350,000 a day to charter an LNG tanker to pick up a cargo from the U.S. The previous high for any kind of commodity carrier was set in late 2019 when a crude supertanker was booked for daily earnings of $308,000, according to data compiled by...
https://mfame.guru/a-shortage-of-lng-tankers-has-made-them-the-most-expensive-ships-to-hire/
Price reporting agency S&P Global Platts has killed off most of its delivered assessments of 180 CST fuel oil once the mainstay of the bunker market – after shipping companies largely moved on to more viscous bunkers, reports Ship&Bunker.
Market Feedback“The discontinuation follows market feedback that IFO 180 CST is no longer being produced or sold at most locations globally, following the introduction of a 0.5% sulfur cap in marine fuels by the International Maritime Organization,” Platts said...
https://mfame.guru/180-cst-fuel-demand-declines-with-the-0-5-sulphur-cap/