Baltic Exchange: Bunker Report (21 September, 2023)

The following bunker report has been provided by freight market information provider Baltic Exchange for post on Singapore bunkering publication Manifold Times:

Commentary:

For the macro/big picture, keep an eye on the European refining sector, as Shell’s Pernis refinery and Cepsa’s Huelva plant are both suffering unplanned outages, which may impact bunkering across the Continent. Oil prices are scattered today, but mainstream business media are again issuing the “is $100 crude a reality?” alerts, and while benchmark US interest rates are unch for the time being, inflation is still the main concern. Specifically looking at the shipping fuel market, inventories are beginning to slip for HSFO in Fujairah, and while sufficiently supplied for now, there are fears of tightening in the coming weeks. ARA is also starting to tighten up a bit as well. LSMGO in Singapore is looking like end-month at best for ‘prompt’ delivery so schedule accordingly. And US Gulf Coast LSMGO is again above the psychologically important $1000/mt barrier, with steady demand and no weather concerns on the horizon.

Note:

All values are in US$/metric ton, all-in (invoice price), delivered on board
Delivery in 7-10 days
ISO 8217:2010
IFO 380 3.5% Sulphur
IFO 380 0.5% Sulphur
DMA 0.1% Sulphur

Rotterdam – Waalhaven – Maasvlakte range
Houston – Houston Harbor
Singapore – Anchorage, under SBA Scheme
Fujairah – Offshore Anchorage Area

Submitted weekly at Close of Business on Thursdays

Panellists:
Island Oil Limited, Cockett Marine Oil Pte, Monjasa A/S, KPI OceanConnect, Transparensea Fuels 

Photo credit and source: Baltic Exchange
Published: 22 September, 2023