The following bunker report has been provided by freight market information provider Baltic Exchange for post on Singapore bunkering publication Manifold Times:
Commentary:
Lunar new year celebrations are winding down, so next week will be the answer to whether increased travel in China post-lockdown is leading to a significant surge in Covid cases. As reported last week, numbers are higher, but more data will determine if that was a spike, or a trend. In the west, and specifically the US, distillate inventories are well below their 5-year average. However, heating degree days are down by nearly 10% vs last year, which means lower demand for heating oil, propane, and natural gas. Despite errant storms here and there, with the exception of the Christmas week mega-weather, it has been a very mild winter, especially in the distillate-driven northeast / New England / NY City metro area. Long-term weather forecasters say that this year, the “real” winter weather begins in February, but it remains to be seen if low heating oil supply is really a concern. This backs into US refined product imports, and of course the concern about Russian oil movements. Not to downplay the geopolitical angle, but for the moment it seems like a non-event, and if CPP Atlantic basin freight rates are any gauge, there is no spike in demand for oil products at the moment. Freight rates and bunker fuel demand are of course NOT at 1:1 correlation – case in point, despite freight rates being substantially lower than December, for bunker markets, week-on-week, we are seeing an increase in prices across all grades and locations that we cover.
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: 27 January, 2023
Six vessels had been detained this month alone for illegal anchoring in Malaysian waters, bringing total numbers of merchant vessels detained this year to 38, said local authorities.
‘The current specifications were developed for the high sulphur bunker fuels of the past and do not yet necessarily address performance issues with the newer VLSFOs and/or ULSFOs,’ says spokesman.
Shortages due to VLSFO not stabilising in vessel pipes, resulting in inaccurate readings - shipowners are advised to appoint a Bunker Quantity Surveyor.
HSFO supply remains tight in Gibraltar Strait ports; ARA gasoil stocks gain weight while fuel oil is drawn; bunker fuel availability improves in Durban.
Shipowners arriving to conduct activities which require shore-based personnel to board the vessel must notify and provide the relevant information in advance, it said.
Lead times have been steady in Singapore for all three main fuel grades in the past week, and VLSFO supply improves in Fujairah.
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
