The following bunker report has been provided by freight market information provider Baltic Exchange for post on Singapore bunkering publication Manifold Times:
Commentary:
Earlier this week, Morgan Stanley issued their revised 2023 oil demand expectation, by some +36%, citing increased demand in China and a firm outlook for jet fuel consumption this spring/summer in the northern hemisphere. It will be interesting to see if travel actually realizes those expectations, since the continued raises in interest rates are impacting the broad ‘consumer discretionary’ sector. With rises in consumer staples (groceries most notably the complaint on main street), and higher payments coming due on credit cards, whether or not the masses will take to the skies this summer has yet to be seen. In Europe and the US, a series of power outages, labor actions, technological gremlins, and equipment redirections have recently been causing big delays & numerous cancellations on the key trans-Atlantic corridors. Next week we will look at the US TSA Throughput numbers to see how aviation demand compares to spring 2022, which many believe was the first ‘post-covid’ holiday wave. Specifically in the bunker market, prices are flat to slightly negative week-on-week, but the VLSFO grade specifically is being hard-hit in Singapore and Fujairah with a 9-10% drop, and increased availability.
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: 24 February, 2023
KPI OC seeking to recover debt of USD 805,602.15 over five bunker deliveries, not including accrued interest of about USD 363,000 since 15 September, showed court documents obtained by Manifold Times.
Intends to organise a hearing of the winding up application at 10.00 am on 23 November, 2018.
NYK said it will continue with gradual planned introduction of LNG-fuelled vessels until realisation of zero-emission vessels that use marine fuels such as hydrogen or ammonia.
Extensive testing confirmed the new cylinder oil is suitable for all MAN B&W two-stroke engines and recommended for mark 9 and higher using 0 to 0.5% S fuel.
‘Low sulphur marine fuel produced by the company was exported smoothly after the government implemented the quota system to manage the process,’ said deputy manager.
The subsidiary of trading firm Vitol supplied 100 mt of 0.5pc fuel oil to a tanker in Istanbul on 4 October.
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.
17 Mar 2023
