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Home › Shipping News › Detained South Korean Ship Crew Released By Iran
Detained South Korean Ship Crew Released By Iran
February 4, 2021
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After much turmoil and negotiations, Iran has finally released the 19 crew members of the South Korean ship. However, the captain of the vessel hasn’t been released.
South Korea is strategizing on bringing the crew home as the pandemic travel restrictions make it difficult.
Released After Negotiations
The South Korean government had requested for the 20 member crew of the South Korean ship that Iran detained a month ago, alleging some environmental violations.
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Bunker Fuel Oil Market May See Big Move | Shell, Exxon Mobil, Alliance texasguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from texasguardian.com Daily Mail and Mail on Sunday newspapers.
by Type (High Sulfur Fuel Oil, Low Sulfur Fuel Oil, Marine Gasoil, and Others), Commercial Distributor (Oil Majors, Large Independent, and Small Independent), and Application (Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessels, Gas Tankers, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027. According to the report, the global bunker fuel industry generated $120.1 billion in 2019, and is projected to reach $130.1 billion by 2027, witnessing a CAGR of 3.1% from 2020 to 2027.
Drivers, restraints, and opportunities
IMO regulation on sulfur content in marine fuel and increase in offshore oil & gas exploration activities drive the growth of the global bunker fuel market. However, fuel reduction initiatives by the shipping community hinders the market growth. On the other hand, LNG bunkering financing creates new opportunities in the coming years.