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UN Shipping Body Must Agree Ambitious New Action to Cut Climate-Heating Shipping Emissions

18/02/2025

As this week's crucial International Maritime Organization (IMO) meeting on the reduction of climate heating emissions from the shipping sector (Intersessional Working Group on Reduction of Greenhouse Gas (GHG) Emissions from Ships, ISWG-GHG 18) begins, the Clean Shipping Coalition called

Shipping companies call for limits on biofuels in shipping

18/02/2025

Shipping companies including the German shipping giant Hapag-Lloyd and a number of NGOs have called on the UN global shipping agency to exclude unsustainable biofuels from its list of green alternatives to traditional fossil fuels.

The International Maritime Organization (IMO) has

Tankers: VLCC Market Quite Active

17/02/2025

Clean

LR2
MEG LR2’s saw an uptick in enquiry this week leading to a gentle upturn in freight levels. TC1 75kt MEG/Japan climbed 22.5 points to WS125.56 and TC20 90kt MEG/UK-Continent went from $3.3m to $3.63m.
West of Suez, Mediterranean/East LR2’s

Can shipping companies hold and use aviation EUA’s to satisfy their obligations under the EU ETS?

17/02/2025

Following the extension of the EU Emissions Trading System (ETS) to maritime transport from 1 January 2024, this year will be the first year that shipping companies must surrender allowances covering emissions in 2024.

Each shipping company is assigned to the

ICS: Support for a Levy-Based GHG Pricing Mechanism Grows Ahead of the UN IMO Intersessional Working Group

15/02/2025

Ahead of next week’s critical International Maritime Organization (IMO) GHG working group meeting (ISWG-GHG 18) to further develop MARPOL Convention text to decarbonise shipping by 2050, the Secretary General of the International Chamber of Shipping Guy Platten said:

“We are encouraged

Americas Fuel Availability Outlook

15/02/2025

North America

Bunker fuel demand is good in Houston, and availability across all fuel grades is currently tight for prompt delivery dates. High wind gusts and an Arctic Front has caused major delays to bunker operations in the port.

Earlier this week,

MABUX: Bunker Prices Expected to Keep Rising Next Week

14/02/2025

During Week 07, the MABUX global bunker indices saw moderate growth. The 380 HSFO index increased by 1.73 USD, rising from 528.95 USD/MT last week to 530.68 USD/MT. The VLSFO index climbed by 3.26 USD, reaching 621.61 USD/MT from 618.35

Asia drives 2025 oil demand growth as cuts and sanctions reduce supply surplus

14/02/2025

Global oil demand growth is projected to average 1.1 mb/d in 2025, up from 870 kb/d in 2024. China will marginally remain the largest source of growth, even as the pace of its expansion is a fraction of recent trends

ENGINE: Europe & Africa Bunker Fuel Availability Outlook

13/02/2025

Northwest Europe

HSFO and VLSFO remain tight for prompt deliveries in the ARA hub. Lead times for both grades are 5-7 days, unchanged from last week. LSMGO availability is comparatively better, requiring lead times of 3-5 days.

The ARA's independently held fuel

OPEC Leaves 2025 Oil Demand Growth Estimate Unchanged

13/02/2025

Crude Oil Price Movements

In January, the OPEC Reference Basket (ORB) increased by $6.31, or 8.6%, m-o-m, to average $79.38/b. The ICE Brent front-month contract rose $5.22, or 7.1%, to average $78.35/b, while the NYMEX WTI front-month contract gained $5.40, or

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