“Bunker Market. Prices”: Far East sees decrease of bunker sales, China invests in alternatives
- Over four months of 2023, bunker sales in the port of Vladivostok fell by 24%, year-on-year, to 152.7 thousand tonnes. According to our data, the fall of fuel sales in the Far East Basin of Russia is due to a combination of factors: repair works at oil refining plants, overloading of railway infrastructure needed for fuel supply, cheap Chinese oil products.
Investments in alternative fuels continue in the global bunkering market. GTT has obtained an Approval in Principle (AiP) from Bureau Veritas for the design of a Liquefied Natural Gas (LNG) dual-fuel Very Large Crude Carrier (VLCC). The ceremony was held in Shanghai.
Jiangnan Shipbuilding, a subsidiary of China State Shipbuilding Corporation (CSSC), has signed a contract with Singaporean shipping company Eastern Pacific Shipping (EPS) for the construction of four Very Large Ammonia Carriers (VLAC) with a capacity of 93,000 cubic meters.
As for Russia, Saint-Petersburg will host the 16th All-Russia Forum "Current State and Prospects for the Development of the Russian Bunkering Services Market" on 22-23 June 2023.
Read more in the “Bunker Market. Prices” digest.
IAA PortNews’ bunker market digest issued twice a week offers operational information about the key industry events, statistics and analytics. It is mostly exclusive information not published on the portal or print outlets.
The digest includes:
- Indicative prices for bunker fuel are divided into three categories: fuel, high-sulfur and low-sulfur fuel oil, in USD and RUB
- The main factors that influenced the change in the cost of marine fuel
- Global bunker fuel prices
- Review of wholesale prices for petroleum products
- Information about ship calls
- Bunkering market news
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