A recent survey found out that the shipping industry sees a vast potential reduction in fuel consumption, while owners, managers, operators and charterers felt that on average, it was possible to reduce 28% of their fuel consumption – a figure that aligns with some recent studies on voyage optimisation.
The Australian Maritime Safety Authority (AMSA) reminds members and interested parties that from March 1st, 2020, all vessels are prohibited from carrying fuel oil with a sulphur content greater than 0.50% m/m.
ABS recently announced that granted an Approval in Principle (AIP) to Kawasaki Heavy Industries regarding its LPG as fuel system design. Specifically, KHI highlights that its dual-fuel engine is capable of using both marine diesel oil and LPG as fuel, while reduces fuel consumption, following the NOx Tier 3 regulations.
The Italian refiner Saras launched its very low sulphur fuel oil (VLSFO) in early September, with its sails now having topped 120,000 tonnes, following the implementation of IMO’s 2020 sulphur cap regulation. The Italian refiner is targeting 550,000 tonnes of VLSFO and 180,000 tonnes of marine gasoil (MGO) in annual sales, as Reuters reports.
The classification society Korean Register recently issued a technical information “Forecasting the Alternative Marine Fuel – Ammonia”, based on the use of ammonia as an alternative marine fuel. KR claims that has great potentials in comparison to other different types of carbon-neutral alternative fuels.
Although the liquefied natural gas is in the top list of shipping’s best alternative to high sulphur fuel oil, liquefied petroleum gas (LPG) has entered into the shipping industry and aims to accommodate itself in the marine fuel market.
Marfin Management, Monaco-based ship manager, signed up as the first commercial partner to use the BunkerTrace system to track marine fuels, to manage any possible non-compliant or contaminated fuel. Marfin will use the system to track marine fuel, using synthetic DNA markers at specific points of the supply chain and record each transaction in a blockchain-based solution.
Hyundai Heavy Industries claims that it has developed a ship operation system by retrofitting its generator-engine model with advanced information and communication technologies. More specifically, it uses artificial intelligence to reduce fuel expenses by more than 10%.
EIA marks 2019 as the year with the lowest natural gas prices for the past three years, as although monthly average natural gas prices at most key regional trading hubs in 2019 reached their highest levels in February, and they were relatively low and stable from April through December.
Drewry launched a new range of fuel advisory and management services, commenting that they are ‘designed exclusively for shippers and forwarders’, at a time when fuel quality and compliance play a crucial role in the shipping industry.
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