Tag: fuel consumption

During a conference in Rotterdam, René Loozen, Consultancy Director at Insights Global stated that the upcoming IMO 2020 sulphur cap will boost the demand for more IMO 2020-compliant fuel, adding that the approaching regulation will lead to different dynamics in the bunker fuel and tank storage sectors.

The pilot project of the Swedish ferry company, Stena Line, using artificial intelligence (AI) technology in order to predict the most fuel-efficient way to operate a vessel is saving fuel on the company’s ships. In particular, the software, which is named Stena Fuel Pilot, is expected to be installed during autumn, on five more Stena Line vessels. Moreover, the company states that its ambition during 2020, is to promote the technology across its 37 vessels operating in Europe.

In light of the upcoming 2020 sulphur cap, the shipping industry is on the run of finding compliant low-sulphur fuels; Yet, some state that the demand for high sulphur fuel will not be extinct as those who will use scrubbers will continue making use of it.

Under a new agreement, Cargill will enter its Medium Range (MR) fleet into the existing Maersk Tankers MR pool, creating a new joint pool to increase the scope of their MR spot tanker business. The joint pool is expected to enable vessels to focus on fuel optimization and CO2 emissions reduction, as well as a digitalized approach to trading. 

Machine learning solutions provider GreenSteam and short sea operator Unifeeder announced they are expanding their partnership to deploy digital technology for reducing fuel consumption, in line withe industry's ambitious targets on GHG emissions reduction.

NYK Bulk & Projects Carriers, part of Japanese NYK Group company, has signed a contract with Nanjing Jinling Shipyard, part of the China Merchants Group, to build two next-generation energy-saving heavy-lift vessels, to respond to the demand for transporting cargoes such plants, wind-turbine blades and equipment.

Mr Tim Wilson, Principal Specialist on fuels, lubes and exhaust emissions at LR, discusses the approaching IMO 2020 regulation and the shipping industry that focuses on clean fuel, trying to avoid segregation risks and contaminated fuel. Mr Wilson highlights that one of the biggest challenges today is being ready to deal with the segregation of the new 0.50% fuel that is coming. 

EIA forecasts that global liquid fuels consumption, which averaged 99.9 million b/d in 2018, will increase by 1.1 million b/d in 2019 and by 1.4 million b/d in 2020. EIA's global oil consumption forecast is based on global gross domestic product, depending on country-level forecasts from Oxford Economics.

Wärtsilä accomplished a new technology benchmark, by launching the marine sector's first hybrid installation for a bulk carrier. The system will be installed on the M/V Paolo Topic, a bulk carrier constructed at Japanese Onomichi Dockyard and managed by Marfin Management S.A.M. The project agreement was signed on July 8 in Monte Carlo, Monaco.

Freight forwarder Panalpina has warned its ocean customers of potential disruption to supply chains ahead of the IMO 2020 sulphur cap. The regulators have laid out the rules, but the path for ship owners, operators and carriers to complying with the low sulphur limit remains rocky.