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Bunker fuel traders in China say the use of mass flow meters at local ports is increasing amid growing expectations their usage will become mandatory in the near future.
Technical and regulatory aspects of the 2020 global fuel sulphur limit are major concerns to the industry ahead of 1 January 2020. The course focuses on all aspects including bunker clauses.
On 18 November, India’s government removed export tariffs on iron ore and some intermediary steel products. However, this was not enough to keep domestic ship demolition prices from dropping to USD 525 per Light Displacement Tonnage (LDT) at the end of November, 7.9% lower than at the end of October.
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition.
The BIMCO Bunker Terms 2018 is a standard contract for the purchase and supply of marine fuels to ships. This edition also includes the LNG Bunker Annex published in May 2023. Copyright in the BIMCO Bunker Terms 2018 and the Annex is held by BIMCO.
BIMCO speaks at the 10th Fujairah Bunkering and Fuel Oil Forum.
Demolition prices have been on the rise since late last year and recently reached the same high levels seen in the beginning of 2012. In two of the major demolition markets, India and Pakistan, the positive development started around October 2013 after a year of more or less status quo. In China, also a large market for demolition, development has been the opposite, with slowly declining prices since the beginning of 2013.