Reuters reports that Taiwanese and South Korean refineries are testing the market for fuels, that are compliant with IMO’s sulphur cap, starting next year, by exporting cargoes of very low-sulphur fuel oil (VLSFO). For the time being, refiners have a hard time deciding on which fuel to produce due to the fact that shipowners are able to choose between LSFO or MGO to comply with IMO’s 2020 sulphur regulations.
The establishment of air emissions regulations in the form of Emission Control Areas (ECA) and the upcoming IMO 2020 sulphur cap are leading the search for economically, commercially, and environmentally acceptable marine fuels. US Coast Guard examiners are seeing a new trend on ships carrying liquefied petroleum gas (LPG) and ethane. Namely, these vessels are using their cargoes as fuel during ocean transits.
According to Danish Shipping, several Danish shipping companies are installing scrubbers on their vessels, which clean the exhaust smoke from the vessels’ engines and remove sulphur and other particles, resulting to the ships being in line with the new international requirements.
SKTI informed that it will increase its offshore oil blending business by four times, reaching from the current 23,000 barrels a day, to 90,000 barrels next year. The company charters a large oil tanker and adds semi-finished products to produce LSFO. What is more, SKTI also plans to retrofit scrubbers on 19 ships.
To support anyone preparing for the 2020 sulphur cap, and specifically shipowners and operators, Muhammad Usman, LR’s voice on marine fuels, has created and answered a set of the most frequently asked questions. The questions regard the draft guidance, Ship Implementation Plan and ISO updates.
NYK informed that it has concluded a contract with Japan Marine United Corporation to construct a next-generation energy-saving bulk carrier. After delivery in 2021, the ship is planned to transport raw materials for JFE Steel Corporation under a long-term charter contract between NYK and JFE Steel.
Japan’s Ministry of Land, Infrastructure, Transport and Tourism announced it is conducting a business trial operating ships with low sulphur oil, as part of its efforts to prepare with the 2020 sulphur cap entering into force for ships globally from 1st January 2020.
During the 2019 Hellenic American maritime Forum in Athens, Mrs. Elina Souli, Regional Business Development Director, V.P. – FD&D Manager, The American P&I Club, talked about the cost and exposure of P&I incidents, which has increased substantially.
The Shanghai Futures Exchange revealed that China plans to launch a bonded low-sulphur bunker fuel oil contract that will enable foreign investors to participate in trading by the end of 2019.
Pacific Green Technologies (PGT) announced that Scorpio Bulkers has exercised options to install PGT’s ENVI-Marine system of additionally nine vessels that are either owned or managed by the shipping company.
