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Marine fuels
Overview
The introduction of new regulations has caused fundamental change across the marine fuel markets. Reliable insight and data reflecting the market direction are more pressing than ever.
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Our global coverage of marine fuels delivers market-driven price assessments, supply and demand data, price forecasts, and forward curve prices. Along with the latest news, market commentary, and in-depth analysis led by our market experts, our comprehensive insight helps your business decide on the best suited alternative marine fuel for your needs.
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Barriers impede LPG as a marine fuel: Study
Barriers impede LPG as a marine fuel: Study
New York, 20 June (Argus) — LPG combined with carbon capture technology could become a widespread alternative marine fuel if the technology is available to use it onboard and safety concerns are addressed, maritime classification society Lloyd's Register (LR) and industry group World Liquid Gas Association (WLGA) said Wednesday in a report. LPG made from fossil fuel sources emit around 97pc less sulphur oxide emissions than conventional marine fuels, 20pc less nitrogen oxide emissions and about 20pc less carbon emissions, according to the study. This makes current LPG supply compliant with regulatory standards such as the 0.5pc sulphur cap regulation set by the UN's International Maritime Organization, LR and WLGA said. While LPG carriers and very large gas carriers (VLGCs) increasingly can burn LPG as fuel , the technology needed to use LPG as an alternative marine fuel will need to be scaled up to use it on different types of ships as well as to meet the emission reduction goals of the maritime industry. There is currently no four-stroke engine that can use LPG as a marine fuel, which would require an auxiliary engine with an additional fuel to boost its decarbonization, according to the study. German engine manufacturer Man Energy Solutions has built two-stroke engines for newbuild and retrofitted gas carriers. A two-stroke engine completes a cycle of intake, compression, power, and exhaust in two strokes and a four-stroke engine does it in four. Two-stroke engines are typically used in ocean-going vessels such as bulk carriers and four-stroke engines are used in ships such as ferries. Safety hazards for using LPG onboard are also a barrier to adopting it as a reliable alternative marine fuel. LPG mixed with air is a fire and explosion hazard if it is used and stored incorrectly. It is also toxic to inhale at high concentrations. Lastly, LPG in its liquid form could cause cold burns if the skin is not properly insulated, the study said. There will need to be safeguards regarding ship design and construction, bunkering technology, and onboard procedures for the vessel's crew to mitigate the dangers for LPG as a marine fuel, LR and WLGA said. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Ecuador cuts power as heavy rains hurt hydro
Ecuador cuts power as heavy rains hurt hydro
Quito, 18 June (Argus) — Ecuador restarted daily two-hour power outages this week across the country because of issues in the 1.5GW Coca-Codo Sinclaire, 156MW Agoyan and 230MW San Francisco hydroelectric plants. Heavy rainfalls near Coca-Codo Sinclair have increased sediments in the Coca river that feeds the plant, forcing six of its eight turbines out of operation. The plant is the largest generator in the country and is in the provinces of Napo and Sucumbios, in the northeast of the country. In addition, Agoyan's engine house flooded also because of the massive rainfalls and landslides in the central highlands of the country where the plant is located. And the San Francisco plant, downstream of Agoyan, stopped generating as well because it uses the same water supply as Agoyan. Ecuador has lost about 1.5GW-1.9GW of power capacity in recent days because of these issues and 400MW of power capacity available for imports from its northern neighbor Colombia were not enough to prevent the need for rolling outages. The energy ministry will update its plans for outages this week based on the status of the three hydroelectric plants. Ecuador implemented 2–8-hour blackouts for 12 days from 16-30 April because of a lack of rain in the main hydroelectric plants after dry conditions also led to 35 days of blackouts from October-December 2023. By Alberto Araujo Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Mitsubishi Shipbuilding to build methanol-fuelled ship
Mitsubishi Shipbuilding to build methanol-fuelled ship
Tokyo, 18 June (Argus) — Japan's Mitsubishi Shipbuilding plans to build two methanol-fuelled coastal roll-on roll-off (RoRo) vessels at its Shimonoseki shipyard in west Japan's Yamaguchi prefecture, aiming to deliver them within the April 2027-March 2028 fiscal year. Mitsubishi Shipbuilding, a group company of engineering firm Mitsubishi Heavy Industries, will build two 15,750 gross tonne car carriers with 2,300 vehicle capacity. The RoRo ships, which are equipped with a ferry-type ramp for transport of wheeled cargo such as trucks and trailers, will be delivered to Japanese shipping firms Toyofuji Shipping and Fukuju Shipping. The ships will be equipped with dual-fuel engines, which can burn both methanol and conventional marine fuel. The company expects use of methanol to curb carbon dioxide (CO2) emissions by more than 10pc compared with the use of conventional heavy oil. The ships can also use green methanol to further reduce CO2 emissions in the future. Methanol has emerged as a potential alternative fuel as the marine sector looks to cut its greenhouse gas emissions. Fellow Japanese shipbuilders Imabari Shipbuilding and Japan Marine United, as well as domestic vessel engineering firm Nihon Shipyard, also target to build 209,000dwt methanol-fuelled Capsize bulk carriers , aiming to deliver them to shipping firm NS United Kaiun from 2027. By Nanami Oki Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
High-Low spread negative for first time in nine months
High-Low spread negative for first time in nine months
London, 12 June (Argus) — European High-Low fuel oil spreads moved into negative territory on 11 June, with thin supply of higher sulphur products flipping the margin, market participants said. Front-month swaps for high-sulphur fuel oil (HSFO) barges loading in ARA traded above those for low-sulphur fuel oil cargoes (LSFO) loading in northwest Europe on 11 June, for the first time since mid-August 2023. Month one LSFO swaps were trading at $471.50/t, gaining $2.50/t on the day, while month one HSFO barge swaps rose by $5.25/t to $473.75/t, giving a High-Low spread of -$2.25/t. Market participants said on 11 June that demand for lower-sulphur power generation fuel is weak and would need to pick up in summer to pressure the LSFO market. Prompt LSFO, which contains 1pc sulphur, would currently find higher demand from the marine fuels market, where HSFO, comprising 3.5pc sulphur, is in short supply. Middle eastern countries are using higher-sulphur residual product for power-generation purposes, creating knock-on tightness in the European marine fuels market. Europe is also oversupplied with very-low sulphur fuel oil (VLSFO), comprising 0.5pc sulphur, also mostly used as marine fuel. This means LSFO would be unlikely to find its way into the VLSFO blending pool. By 16:30 BST on 11 June, second-month LSFO swaps were pricing at $3.25/t above the month one swap, implying that the market is oversupplied with 1pc sulphur product. For HSFO swaps, month one was pricing $2.50/t higher than second-month swaps, implying the opposite for this market. By Bob Wigin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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