Latest Maritime News
June 4-June 18, 2019
|
|
Shipowners Ready for IMO 2020, But Bunker Market Lags
The bunker market is far from ready for the substantial switch in demand to low-sulphur fuel, when the IMO’s 0.5% cap comes into force on 1 January next year, according to the Marine Bunker Exchange (MABUX).
In an article published by international shipping association BIMCO, the bunker exchange cautions that “shipowners are ready, but the bunker market is not” –adding that reports from oil majors regarding the delivery of LSFO (low-sulphur fuel oil) “are concerning”.
Continue reading here
(
Source: gCaptain).
|
|
OPEC Aims For $60-$70 Oil
OPEC members are happy with crude oil prices between US$60 and US$70 per barrel, Equatorial Guinea’s oil minister Gabriel Mbaga Obiang Lima told S&P Global Platts in an interview, contrary to earlier reports saying that the cartel’s leader, Saudi Arabia, alone needs oil quote a bit higher than that, at over US$80 per barrel if it is to avoid another budget deficit this year.
Obiang, however, also said OPEC will still try to convince its partners to extend the production cut deal closed last December until the end of the year, even though Brent crude is already trading above US$60 as is the OPEC basket of crudes. The Oman and Dubai benchmarks, however, are currently slightly below the US$60 threshold.
Continue reading here
(
Source: Oil Price).
|
|
Panama Canal Proposes New Toll Structure
The Panama Canal has published a proposal to modify its current tolls structure for the major shipping sectors.
The proposal covers dry bulk, passenger, containership and vehicle carrier and ro-ro segments, tankers, chemical tankers, LPG and LNG vessels, as well the the intra-maritime cluster (local tourism segment) and minimum tolls (small vessels)
.
Continue reading here
(Source: Seatrade Maritime News).
|
|
Port of Singapore Updates its Guidance on IMO 2020
Singapore, the world’s largest bunkering port, unveiled on Thursday further measures to help the industry prepare for the International Maritime Organization’s impending global sulfur limit rule for marine fuels.
The Maritime and Port Authority of Singapore said it had, in collaboration with the Singapore Shipping Association, published the second edition of two technical guides on the IMO 2020 rule. The guides contain details on Singapore’s implementation plan for the rule as well as the outcome of the 74th session of IMO’s Marine Environment Protection Committee held in May.
Continue reading here
(Source: Shipping Tribune).
|
|
IMO 2020: The Big Shipping Shake-Up
Over 90% of all global trade takes place on our oceans.
Unfortunately, the network of 59,000 vessels powering international commerce runs on sulfur-laden bunker fuel, and resulting emissions are causing problems on dry land.
As today’s infographic by
Breakwave Advisors
demonstrates, new emissions regulations taking effect in 2020 will have a big impact on the world’s massive fleet of marine shipping vessels.
Continue reading here
(Source: Visual Capitalist).
|
|
Vancouver's Bid to Become an International Maritime Centre Stumbles
Created four years ago to much fanfare and a huge marketing blitz, the project to turn Vancouver into a major maritime hub is now on its last legs as changes in local and federal governments have seen state funding switched off for the ambitious project.
Launched in April 2015, with an initial three-year state funding mandate, Vancouver International Maritime Centre (VIMC) was a lavish attempt to turn the British Columbia city into a global shipping hub, determined to get shipping lines, banks, insurers and more to set up shop in the Canadian city
.
Continue reading here
(Source: Splash 247).
|
|
US Vows to Protect Shipping in Persian Gulf
There’s “no doubt” Iran was responsible for attacks on two oil tankers leaving the Persian Gulf last week, and the U.S. will guarantee safe commercial navigation going forward with its partners, Secretary of State Michael Pompeo said.
“The United States is going make sure that we take all the actions necessary, diplomatic and otherwise, that achieve that outcome,” Pompeo said on “Fox News Sunday,” one of two scheduled appearances on the political talk shows.
Continue reading here
(Source: gCaptain).
|
|
Current Price Indications
|
|
 |
Clipper Oil offers a weekly update with the latest positions of the high-seas fuel tankers working throughout the Pacific.
To view the latest positions of our high-seas tankers, please click
here
.
To be added to our weekly high-seas tanker email distribution list, please click
here
.
|
|
|
|
|
|
|
Worldwide Wholesalers of Marine Fuels & Lubricants
|
|
USA Headquarters
2040 Harbor Island Drive
Suite 203
San Diego, CA 92101 USA
Tel: +1-619-692-9701
|
|
|
Singapore Office
8 Eu Tong Sen Street
#23-86, The Central
Singapore, 079624
Tel: +65-6646-5367
|
|
bunkers@clipperoil.com
www.clipperoil.com
|
|
|
|
|
|
|
