bunker bulletin World bunker prices EUROPE
Rotterdam MTD Antwerp MTD Gibraltar MTD Falmouth MTW Gothenburg MTD Las Palmas MTW Malta MTD
Piraeus MTD St. Petersburg MTD*
MID.EAST/
S.AFRICA Fujairah MTD Durban MTW*
Dammam MTD (PP) Jeddah MTD (PP) Richards Bay MTW* Suez MTD
AMERICAS New York MTW
New Orleans MTW Houston MTW Vancouver MTW Panama MTW Santos MTD
FAR EAST
Singapore MTD Tokyo MTD* Busan MTD
Hong Kong MTD Shanghai MTW
Latest prices Close
Current Change
Prices are latest (mid-range) listed in US$ as at 21 March 2014 MTD = delivered EXW = ex-wharf PP = posted price
380cst 3.5% 590-600 657-659 629-632 602-608 625-627
380cst 3.5% 578 578 595
612-614 587 608 586
593-598 410
380cst 1% 655 655 675
676-679 665 693
715 (N/A) 690 490
380cst 3.5% 605 N/A 605 690 N/A
685-686
380cst 3.5% 604.50 625 582
597.50 620 618
380cst 1% 680 971
702-712 734-736 793-798
WTI
$98.90 (-$1.47) $99.42 +$0.52
180cst 3.5% 608 608 629
662-663 622 630 605
622-627 440
380cst 1% N/A N/A N/A N/A N/A N/A
380cst 1% 681 737
689.50 852.50 797.50 626
180cst 3.5% 608-615 667-669 660-663 614-616 666-670
BRENT
$106.45 (+$0.60) $106.98 +$0.53
MDO N/A N/A N/A N/A 965 930 N/A N/A N/A
180 3.5% 635 609 615 725 619
720-721
180cst 3.5% 659.50 658 652
649.50 681
639.50
MDO N/A
943-948 N/A N/A N/A
MGO 865 865 945
933-943 935 940 902
911-916 840
MGO
975 / 1020 (LS) 1037 980
1070 1047
1069-1070 MGO
1022.50 971.50 976
1093 1053 980
MGO
895-915 N/A
946-951 910-917
1062-1068 GAS OIL
$888.75 (+$1.75) $897.00 +$8.25
Information supplied by Stuart Murray – Bunker Broker Wilhelmsen Premier Marine Fuels Ltd t: +44 1322 282 940
e:
wp.london@wilhelmsen.com Yahoo: stuartm_wpmf
HFO to sustain market dominance Research by Lloyd’s Register and University College London’s Energy Institute has explored the drivers for the energy mix in shipping in 2030. Their report indicates that, in all scenarios, heavy fuel oil will remain the main fuel for deepsea shipping; LNG will develop a deepsea bunker market share of 11 per cent; and low sulphur heavy fuel oil and hydrogen will emerge as alternatives in certain scenarios. Global Marine Fuel Trends 2030, released in March by LR, offers insight into the future fuel demands of the container ship, bulk carrier/general cargo and tanker sectors, which represent around 70 per cent of the global shipping industry’s bunker requirements. Shipping decision makers will benefit from a clearer understanding of the three potential scenarios for marine fuel demand, defined as: Status Quo; Global Commons; and Competing Nations.
“I think the report underlines that any transition from a dependency on HFO will be an evolutionary process,” said project leader Dimitris Argyros, the class society’s lead environmental consultant.
www.mpropulsion.com
IBIA urges compliance with ISO standards as engines develop In a bid to improve bunker quality across the marine fuel supply chain, the International Bunker Industry Association (IBIA) has called on suppliers to adopt the ISO 2010 specifications for bunkers. It is estimated that only a quarter of bunker suppliers are currently delivering in accordance with those specifications. “ECO vessels are now entering the market equipped with engines which are more sensitive than ever before,” IBIA chairman Jens Maul Jorgensen commented recently. “The ISO specs were agreed four years ago because there was a real need for them. Yet only 25 per cent of suppliers are supplying in accordance with these specs. Indeed, tested samples found to be off-spec reached an all-time high in 2013, with one-quarter not reaching the required standards. Something is wrong.” IBIA is addressing the problem and has submitted a paper to IMO calling for clarity and transparency in the marine fuel supply chain. It has recommended:
• a process of data collection from bunker suppliers;
• a process for authorities and inspectors to report non-compliance with Annex VI; • regulations to minimise the risk of non-compliant fuels arising from fuel blending activity;
• enforcement procedures to ensure that ship operators can have a greater degree of confidence in their suppliers;
“LNG is forecast to grow from a very low base to a significant market share by 2030 even if there is no major retrofit revolution; most of the LNG take-up will be in newbuildings. But it is important to note that an 11 per cent share in 2030 is the equivalent in volume of about 20 per cent of the bunker market today,” he remarked. This growth, however, does not depend only on the shipping industry, he suggested. “What we can say is that the uptake of engine and alternative propulsion technology and the emergence of non-fossil fuels can only be driven by a society’s ability to create a world with lower greenhouse gas emissions – the technology is not the barrier.” The key drivers “will be policy and markets,” he said. “Shipping can control its own destiny to some extent but shipowners can only focus on compliance and profitability. If society wants lower GHG emissions and cleaner fuel, change in shipping has to be driven by practical regulation and market forces so that cleaner, more efficient ships are more profitable than less efficient ships with higher GHG emissions.” • Read the full report at
www.lr.org/gmft2030.
• the collection of data from fuel suppliers, fuel testing companies and shipping companies to identify the root cause of fuel quality problems. IBIA chief executive Peter Hall added that his organisation will be engaging with shipowners directly at a series of forums around the world in conjunction with other shipping bodies. Practical advice on fuel quality standards and problem avoidance will be disseminated. MP
Jens Maul Jorgensen (IBIA): New engines are more sensitive (credit: IBIA)
Marine Propulsion I April/May 2014 I 103
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