Bunkerspot

Fantastic Bunkerspot feature by Kim Rosello on the benefits of taking a long term view on fuel price protection.

This week on Bunkerspot, we were in #Singapore for the world’s biggest bunker #conference – #SIBCON2024 Speaking to ship.energy CEO, Llewellyn Bankes-Hughes, Tyler Baron, the CEO of Minerva Bunkering, explained how its acquisition of Bomin USA brings the company into the ‘strategically important physical location’ of the US Gulf. Minerva’s announcement came after the Mercuria subsidiary had christened the first of its #LNG dual fuel bunker tankers to be deployed to support its Singapore business, the MT Amalthea. Speaking at the opening address of SIBCON, the Senior Minister of State for the Ministry of Sustainability and the Environment and the Ministry of Transport, Dr Amy Khor, announced that from 1 April 2025, all #bunker suppliers will be required to provide #digital bunkering services and issue electronic bunker delivery notes as a default. It was also announced that the Maritime and Port Authority of Singapore (MPA) is, along with Enterprise Singapore, developing the Singapore standards for #methanol bunkering and #ammonia bunkering by 2024 and 2025 respectively. While methanol and ammonia are very much at a nascent stage in Singapore, sales of marine LNG continue to climb at the world’s largest marine fuel hub. Indeed, according to data released this week by industry coalition SEA-LNG, LNG-powered vessels in operation and on order now represent 4% of the global fleet by vessel numbers (including the forward orderbook) or 6% by DWT - and these vessels will soon have more fuelling #infrastructure to rely on following key announcements from two of the industry’s major players. Bunker One, Bunker Holding A/S’s physical supply division, announced the establishment of Bunker One LNG BV, headed by MD Michael Behmerburg, which is looking to begin LNG bunker supply in NW Europe from January next year. Meanwhile, TotalEnergies signed a charter contract with Spanish #shipowner Ibaizabal Group for a new 18,600 cbm LNG bunker vessel which the energy company said, ‘might be deployed in #Oman’, where it is developing the Marsa LNG project. In other news, Peninsula announced the expansion of its physical supply operations into Abu Dhabi and Jebel-Ali; Dan-Bunkering (America) Inc. announced it is ready to launch a new offshore bunker tanker to support the #Trinidad Outer Port Limits market area; and our reporter, Tom Barlow-Brown, was at the inaugural Shipping UK 2024 conference, held in London, where representatives from the UK #maritime sector urged the government to commit to engaging with the industry. To catch up on all the latest bunker news visit Bunkerspot: https://lnkd.in/dFBXEdQ Image: ship.energy #news #views #insights #decarbonisation #technology

Our reporter Tom Barlow-Brown earlier this week at the Shipping UK Conference 2024, organised by the UK Chamber of Shipping, at the QE2 Centre in London. Photograph by Harmit Kambo

Minerva Bunkering buys Bomin USA 'It brings Minerva Bunkering into a strategically important physical location, the US Gulf, but includes a portfolio of assets and a team with deep experience in operating in their markets,' Tyler Baron, Minerva's CEO, tells Bunkerspot. https://lnkd.in/egK6xTtM Image: Shutterstock Llewellyn Bankes-Hughes Pablo Sansó Gil #acquisitions #marinefuel #corporatefootprint ship.energy

The UK Chamber of Shipping has unveiled an ambitious £700 mil. roadmap toward decarbonisation, with an aim to revitalise shipping in the UK and reach net-zero. The plans cover a range of different projects including shore power, upskilling seafarers and an exemption from the UK's ETS for ferries. The plans were unveiled to coincide with the Chamber's first Shipping UK conference, held at the QEII centre in London. Get the full story in my report on Bunkerspot here:

📰 "We would like to see a distinct economic measure that sets an ambitious price and really prioritises a just and equitable transition in the way the revenues are disbursed and who they are disbursed to." Find our Policy Officer Blánaid Sheeran, quoted in Ariane Morrissey's coverage of the last weeks' International Maritime Organization negotiations in Bunkerspot and ship.energy. Read the full article below! 👇 https://lnkd.in/eQUm-e-n #IMO #InternationalMaritimeOrganization #CleanShipping #ClimateDiplomacy #ClimateJustice

DNV’s latest Alternative Fuel Insight (AFI) results have been published, breaking down how September was a relatively slow month for orders but follows a strong July and August. A total of 17 new orders for alternative fuelled vessels were placed last month. Of those, nine were for LNG fuelled vessels, most of which coming from the container segment. The remaining eight orders were for methanol-fuelled ships. “Despite a slow month in September, a broader view confirms that the momentum in the new order market towards alternative fuelled vessels remains strong,” said Jason Stefanatos, Global Decarbonization Director at DNV Maritime. “LNG is clearly the headline story since the summer, accounting for around 60% of all alternative fuelled new orders in the third quarter mainly thanks to a strong uptake in the container segment.” Read more in Bunkerspot: https://lnkd.in/g9bYvihj #Shipping #EnergyTransition #NetZero

Shipping *will* reach an agreement on a carbon pricing mechanism. That's the message from Arsenio Dominguez at #MEPC82. Answering questions from assembled journalists at the International Maritime Organization Mr. Dominguez stated that the maritime world is on track to adopt new measures to tackle GHG emissions. However, he was keen to reiterate that the goal is not to raise revenue for its own sake but to come to an agreement that benefits everyone, including shipping companies and poorer nations. Read more in my report from the first day of MEPC 82 on Bunkerspot here:

Jim Gamble, Senior Director of Pacific Environment’s Arctic Program, is featured in a Bunkerspot piece discussing proposed International Maritime Organization (IMO) revenue generation mechanisms OUT NOW! 🎉 Right now a key debate at the IMO’s #MEPC82 summit – where Pacific Environment is hosting youth climate activists from Nigeria, Kenya, Dominica, Tuvalu and Brazil – is revenue generation mechanisms: The decision between a flat carbon levy and a more complex carbon trading system. Jim Gamble told Bunkerspot that the committee will need to make sure that any new measures do not alienate those less well-off. A carbon trading system could cause inequality in the shipping sector’s transition to low-carbon operations. Here’s what he had to say: “The problem with [the carbon trading system], from our perspective, is that it has a possibility of creating a group who can move more quickly. They're going to be selling these residual units or buying them from countries that can't. So, you set up this situation where there are haves and have nots.” Jim also discusses other pressing issues on the agenda, including reducing black carbon emissions in the Arctic, regulating exhaust gas cleaning systems and addressing underwater noise from vessels. 🚢 Read the full piece here: https://bit.ly/imorevenue Learn more about the activists here:  Abigael Kima 🇰🇪 Marcelo Rocha 🇧🇷 Nicole Morson 🇩🇲 Olumide Idowu (Mr. Climate) 🇳🇬 Shania Scotland 🇩🇲 Teresa Lifuka-Drecala 🇹🇻 #ClimateAction #UN

As MEPC 82 gets underway at the International Maritime Organization’s (IMO) London HQ today, James Forsdyke, Managing Director, LR Maritime Decarbonisation Hub tells Bunkerspot it is ‘critical’ that: ‘The ISWG and MEPC delegations can reach an actionable consensus on how the Fuel Standard will work, particularly with regard to the Life Cycle Assessment of fuels.’ https://lnkd.in/eFc4MRiF