Nick Mai of global energy and commodity price reporting agency Argus Media on Tuesday (4 August) published an update on the effects of Typhoon Hagupit on the bunker trades in Zhoushan, China’s main bunkering port:
Port operations have been suspended at Zhoushan port in China’s Zhejiang province, after Typhoon Hagupit made landfall this morning, a Zhoushan government official said. The suspension is expected to last until 7-8 August, based on the current weather forecast.
Over 25,000t of marine fuels traded on a spot basis for delivery during 4-8 August will be delayed, based on estimates of trade volumes reported to Argus. Argus assesses the Zhoushan bunker index based on reported spot trades on a volume-weighted average basis, as well as at Shanghai port.
The delays do not appear to have affected spot trades for delivery in mid-August, with about 4,000t of combined spot traded volumes reported on 3 August in Zhoushan, including very-low sulphur fuel oil (VLSFO), marine gasoil and high-sulphur fuel oil. Shanghai recorded nearly 2,500t of VLSFO spot trades yesterday.
Prices of bunker fuels are also unaffected. The VLSFO volume-weighted average price fell by just by $1/t to $338.90/t in Zhoushan yesterday from 31 July while the Shanghai VLSFO price also fell by about $1/t to $346.60/t.
Zhoushan is China’s main bunkering centre, which the government has been pushing as an alternative to the regional hub of Singapore.
Photo credit and source: Argus Media
Published: 5 August, 2020
Bergen Troll and Northern Skaggerrak have the capability to bunker a variety of fuels, including MGO, 3.5%S fuel oil, and 0.5%S fuel oil.
Donates candies and sanitary kits with each Aderco additive product delivery in Singapore to show its appreciation and support for seafarers.
Argentinian Coast Guard now requires all vessels bunkering at Zona Comun to arrange for an ORSO to respond to any oil spillage within 60 minutes of occurrence.
‘It is an insider transaction designed solely to benefit Mercuria and is not in the best interests of the Debtors’ estates.’
Collaboration areas include projects on decarbonisation, AI-driven decision support tools, predictive maintenance, and cybersecurity, said the MPA.
FTI Consulting has cautioned the group’s creditors that they could realistically forecast a recovery rate of 0% to 27.5% of their exposure, reports Bloomberg.
IBIA Asia, ABIS, sources from Singapore’s bunkering and surveying companies, and an industry veteran share with Manifold Times the issues expected from MPA’s latest Covid-19 measures.
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
Claim relates to deliveries of MGO to the vessels Pacific Diligence, Pacific Valkyrie, Pacific Defiance, Crest Alpha 1, and Pacific Warlock between March 2020 to April 2020.
3,490 mt of LSFO from Itochu Enex was lifted at Universal Terminal; the same bunker stem was bought by Global Marine Logistics and delivered by bunker tanker Juma to receiving vessel Kirana Nawa.
