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IMO’s 2030 and 2040 GHG reduction targets now explicitly linked to fuel standard, whilst momentum builds on a universal GHG price (levy), but all options remain on the table

The Sixteenth Meeting of the Intersessional Working Group on Reduction of GHG Emissions from Ships has just concluded with some progress made on the finalisation of mid-term measures, and without a decisive shift in the landscape of positions and preferences. This meeting was the first convening of the IMO following the adoption of the Revised …

IMO’s 2030 and 2040 GHG reduction targets now explicitly linked to fuel standard, whilst momentum builds on a universal GHG price (levy), but all options remain on the table Read More »

Dirty crude oil flows from OPEC+ oil producing countries to Asia

​​​​​In the second week of March, the VLCC MEG-China market rates continued to soften, while the number of vessels in Ras Tanura showed an increase despite the significant downward trend observed earlier in the month. Within the crude tanker segment, the Aframax segment continues to demonstrate improvement in the cross Mediterranean route, with growth in …

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Weichai Showcases Advanced Offshore Marine Power Solutions at APM 2024

The 2024 Asia Pacific Maritime (APM 2024), a cornerstone event for the maritime sector, was held at Marina Bay Sands in Singapore from March 13-15. The gathering is recognized as the most influential maritime exhibition in the Asia-Pacific, drawing more than 1,500 exhibitors from 60 countries. Weichai was among the participants, challenging established marine engine …

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Massive Increase In Container Shipping Imports From China Into Mexico Amid Ongoing Us Trade War

Growth in demand for container shipping imports from China into Mexico in January 2024 increased by 60% compared to 12 months ago, further fuelling suspicions it has become a ‘back door into the US’. This is now one of the strongest trade lanes in the world according to analysts at Xeneta, the leading ocean freight …

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Gazprom uses FSRU Marshal Vasilevskiy to load LNG ship-to-ship, LSEG data shows

Russia’s Gazprom GAZP.MM is using a floating storage and regasification unit (FSRU) for ship-to-ship loadings (STS) of liquefied natural gas from its Portovaya LNG plant to improve logistics as another tanker is under repair, LSEG data showed. The FSRU Marshal Vasilevskiy was used to supply the Kaliningrad region of Russia and ensure its gas security …

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Fortescue conducts world’s first ammonia bunker trial in Singapore

Fortescue FMG.AX has conducted the world’s first ammonia marine bunker operation in the port of Singapore, the city-state’s Maritime and Port Authority (MPA) and the Australian mining company said on Friday. The Singapore-flagged Fortescue Green Pioneer was loaded with liquid ammonia from an existing facility at Jurong Island’s Vopak Banyan Terminal for the trial,Fortescue and …

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Asia Fuel Oil-Spot differentials, margins end week on stable note

Asia’s fuel oil market was broadly unchanged on Friday, with spot differentials and margins holding relatively stable from the previous week. Spot discounts for 380-cst high sulphur fuel oil (HSFO) narrowed slightly day-on-day, though ample supplies have kept the market stuck in rangebound discounts since February. Meanwhile, cracks for 380-cst HSFO FO380DUBCKMc1 were rangebound between …

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