Latest news with #bunkerfuel
Zawya
22-07-2025
- Business
- Zawya
UAE's Fujairah first-half 2025 bunker sales drop 5% from 2024
SINGAPORE - Sales of bunker fuel softened at the United Arab Emirates' Fujairah port in the first half of 2025, falling 5% from the same period in 2024, data from the Fujairah Oil Industry Zone (FOIZ) showed. The emirate of Fujairah, located on the east coast of the UAE near the entrance to the Strait of Hormuz, is a major bunkering port in the region and a key refuelling point for tankers taking crude on long voyages out of the Gulf. Bunker volumes from January-June this year totalled 3.7 million cubic metres (about 3.6 million metric tons), compared with 3.9 million cubic metres in the same period last year, based on FOIZ data published by S&P Global Commodity Insights. Sales in June declined to a four-month low of 563,000 cubic metres, down 8% from May. Ships were operating more cautiously in the Gulf last month after tensions between Iran and Israel flared, before a ceasefire was reached. Some traders had expected bunker volumes to taper off slightly. While most ships continued to transit the Strait of Hormuz last month, they tried to minimise time spent in the region due to safety concerns. However, prior to the recent round of geopolitical tensions, refuelling demand was already tepid for most of this year, some Dubai-based trading sources noted. Bunker price differentials to benchmark quotes stayed weak for both low-sulphur and high-sulphur bunker grades this year, sources said. Volumes for both grades also dropped year-on-year in the first half, calculations based on FOIZ data showed. Fujairah bunker sales by month, in cubic metres: 2025 Total bunker sales (minus lubricants) M-o-M Y-o-Y 180cst LSFO 380cst LSFO MGO LSMGO 380cst HSFO Lubricants Jan 628,663 3.7% -6.8% 2,141 403,717 79 37,635 185,091 4,351 Feb 554,117 -11.9% -12.5% 702 382,303 341 28,176 142,595 4,183 Mar 639,811 15.5% -8.7% 1,195 432,560 128 37,788 168,140 4,991 Apr 669,378 4.6% 4.8% 885 443,509 307 35,289 189,388 5,296 May 614,296 -8.2% -0.2% 9,972 407,208 662 31,572 164,882 4,454 Jun * 563,007 -8.3% -7.8% 7,356 361,332 271 33,942 160,106 4,054 Data source: Fujairah Oil Industry Zone data published by S&P Global Commodity Insights (1 cubic metre = 6.29 barrels) (1 metric ton = 6.35 barrels for fuel oil) (Reporting by Jeslyn Lerh; Editing by Jamie Freed)
Bloomberg
17-06-2025
- Business
- Bloomberg
Nuclear-Powered Cargo Ships Promise Cleaner, Faster Transport
The commercial shipping industry is chasing a novel carbon-free propulsion technology as it pursues a lofty climate goal: nuclear power. Shipping accounts for more planet-warming greenhouse gas emissions than Japan. The sector is responsible for 3% of all emissions globally, but the international body overseeing it has pledged to cut climate pollution by as much as 30% by 2030 and eliminate it by 2050. Nuclear power — long a source of propulsion for the military — is a tantalizing solution for an industry largely reliant on highly polluting bunker fuel, though it will likely prove hard to insure.
