The cost of marine fuels is down sharply from the wartime peak, except for ‘clean’ LNG, which is getting even more expensive.
Cost of fuel consumed by container ships, bulkers and tankers is effectively at a seven-year high.
A ransomware attack on a maritime fuel storage provider in the Canary Islands likely didn’t live up to the hackers’ hype. But the incident reflects the very real cybersecurity risks facing the companies supporting the global shipping industry.
U.S. trucking operators, heed this warning from Asia. Maritime experts say that after the IMO 2020 deadline, fuel availability will be uncertain, scrubbers won’t work, stockpiles will “evaporate” and fuel prices will “go through the roof”.
MOL continues its foray into experimenting with LNG with an innovative LNG-powered tugboat; meanwhile, MOL’s LNG-bunkering business signs deals around the world.
Treasury’s Office of Foreign Assets Control warns that companies providing bunker services must be careful not to violate the Iran sanctions, but there are exceptions.
