The following article regarding regional bunker fuel availability outlook for the East of Suez region has been provided by online marine fuels procurement platform ENGINE for publication on Singapore bunkering publication Manifold Times:

• Availability is tight across all grades in Singapore
• LSMGO supply is good in Zhoushan port
• VLSFO and LSMGO availability is tight in several Indian ports

Singapore and Malaysia

Despite low demand, the availability of all grades is tight for prompt dates in Singapore, according to a source. Most suppliers are recommending lead times of about 10 days for VLSFO. Some can accommodate stems with shorter lead times, but these are typically priced higher compared to those for dates further out.

Recommended lead times for HSFO are around 2-6 days and 1-5 days for LSMGO.

At Malaysia's Port Klang, VLSFO and LSMGO supplies are good, although HSFO availability remains relatively tight.

East Asia

In Zhoushan, fuel availability remains steady, with several suppliers advising lead times of 5-7 days for VLSFO and HSFO, and 3-5 days for LSMGO. Some suppliers can arrange prompt deliveries for smaller VLSFO stems.

VLSFO and LSMGO supplies are abundant at Dalian and Qingdao ports in Northern China, although HSFO availability is tight in Qingdao. Tianjin is facing limited supply across all fuel grades.

In Shanghai, LSMGO is readily available, but VLSFO and HSFO are scarce. Prompt availability of VLSFO and LSMGO is also tight in Yangpu and Guangzhou.

Fuzhou has good availability of VLSFO and LSMGO, while Xiamen has ample VLSFO supply but limited LSMGO.

All three grades are tight for prompt dates in Hong Kong. Lead times of seven days are recommended for all grades.

VLSFO and LSMGO are readily available in the Taiwanese ports of Hualien, Kaohsiung, and Keelung, with lead times of about two days, consistent with last week. Lead times for both grades are around 3-4 days in Taichung.

Bunker demand in South Korean ports remains subdued due to higher bunker prices.

Availability remains tight across South Korean ports, with most suppliers recommending lead times of 6-8 days for all grades. Bunkering operations might be suspended in the South Korean ports of Ulsan, Onsan, Busan, Yeosu, and Daesan between 3-8 December due to rough weather conditions.

LSMGO supply remains robust across key Japanese ports including Tokyo, Chiba, Yokohama, Kawasaki, Osaka, Kobe, Sakai, Nagoya, Yokkaichi, Mizushima, and Oita. VLSFO availability is steady, though prompt deliveries are limited in Oita. Meanwhile, prompt HSFO supply is said to be tight in Nagoya, Yokkaichi, Mizushima, and Oita, according to a source.

Bad weather may disrupt bunkering in the Philippine port of Subic Bay on 9 December.

Similarly, adverse weather is expected to impact bunkering at the Vietnamese port of Ho Chi Minh from 7-9 December.

Oceania

VLSFO and LSMGO are available at the western Australian ports of Kwinana, Fremantle, and Kembla, with lead times of around 7-8 days. In New South Wales’ Sydney port, LSMGO supplies are adequate, but HSFO may require longer lead times.

In Victoria, both Melbourne and Geelong have good VLSFO and LSMGO supply, though prompt HSFO deliveries are tight. Queensland’s Brisbane and Gladstone ports have sufficient VLSFO and LSMGO with lead times of 7-8 days, but HSFO availability in Brisbane remains tight.

In New Zealand, Tauranga and Auckland both have good supplies of VLSFO, with Auckland also having ample LSMGO stocks. Adverse weather is expected in Tauranga between 4 and 8 December, which can cause bunkering disruptions.

South Asia

VLSFO and LSMGO availability remains tight at several Indian ports, including Mumbai, Tuticorin, and Chennai, as it has been in recent weeks. Supply of both grades is subject to availability in Visakhapatnam and Haldia, while Kandla and Cochin have good stock.

Adverse weather conditions in the port of Visakhapatnam could disrupt bunker operations during the week.

Sri Lanka’s Colombo port has good availability for all bunker grades. Lead times of three days are recommended by a supplier there.

Middle East

Prompt availability for VLSFO and LSMGO remains tight in Fujairah, with lead times of 5-7 days recommended for both grades. Similarly, suppliers in Khor Fakkan are recommending lead times of 5-7 days for all grades.

Saudi Arabia's Jeddah port has a good LSMGO supply, but VLSFO is tight. Djibouti has LSMGO shortages. Omani ports, including Sohar, Salalah, Muscat, and Duqm have adequate LSMGO supply available to cater to prompt demand.

By Aparupa Mazumder

Photo credit and source: ENGINE
Published: 4 December, 2024

TFG Marine, the global marine fuel supply and procurement joint venture between Trafigura Group Pte (Trafigura) and shipping firms Frontline and Golden Ocean, on Monday (2 December) announced the completion of the acquisition of its majority stake in Spanish bunkering company Vilma Oil Med.

Strategically located in the Strait of Gibraltar, one of the world’s busiest maritime routes, Vilma Oil Med’s West-Mediterranean bunkering services include an 84,000 cbm storage facility and a mass flow meter equipped bunkering barge capable of supplying over 1,500 vessels annually, both in port and offshore.

“This partnership combines our shared expertise to deliver enhanced reliability, efficiency and innovation in marine fuel services to European customers,” TFG Marine said in a social media post. 

Manifold Times previously reported TFG Marine agreeing to acquire majority ownership of Spanish bunkering company Vilma Oil Med for an undisclosed sum.

Kenneth Dam, TFG Marine’s Global Head of Bunkering, said the acquisition will enable TFG Marine to supply vessels with a complete range of high-quality bunker fuel in the West Mediterranean Sea which has long been the company’s goal.

Related: TFG Marine to acquire majority ownership of Spanish bunkering firm Vilma Oil Med

Photo credit: TFG Marine
Published: 3 December, 2024

Once a week, bunker intelligence platform ENGINE will publish a snapshot of biofuel bunker prices in the world’s two biggest bunkering hubs. The following is the latest snapshot:

2 December 2024

• Prices gain sharply in Rotterdam
• Dutch rebates fall below $140/mt

Singapore

Singapore’s B24-VLSFO UCOME price has dropped by a sharp $13/mt in the past week, closely tracking a $14/mt decline in the underlying ENGINE conventional VLSFO price. Meanwhile, the B24-LSMGO UCOME price has seen a smaller decrease of $6/mt.

PRIMA Markets assessed the UCOME FOB China benchmark at $1,010/mt on Friday, unchanged on the week. UCOME offers during the week ranged between $1,000/mt and $1,030/mt, PRIMA said.

The cancellation of China’s 13% tax rebate for used cooking oil (UCO) exports, effective 1 December, is anticipated to boost the domestic availability of UCO, making more of the feedstock available for sustainable aviation fuel production and bunkering.

The port’s B24-VLSFO UCOME premium over pure VLSFO has remained steady at $134/mt, while its B24-LSMGO UCOME premium over pure LSMGO has widened by $3/mt to $110/mt.

Rotterdam

Rotterdam’s B30-VLSFO HBE and B30-LSMGO HBE prices have risen by $34-35/mt in the past week. These gains have been supported by an increase in the price of palm oil mill effluent methyl ester (POMEME).

PRIMA assessed the POMEME price in the ARA at $1,463/mt on Friday, up by a massive $71/mt in the past week. POMEME is one of the most popular advanced biofuel feedstocks, and POMEME-based biofuels qualify for advanced biofuel rebates through the Dutch HBE system.

The Dutch HBE ticket price for 2024 has eased from €17.50/GJ ($18.38/GJ) a week ago to €14.15/GJ ($14.86/GJ) on Friday. This is also down from €23/GJ ($24.15/GJ) noted two weeks ago and now equates to a theoretical rebate of $132/mt for B30-VLSFO HBE blends sold in Dutch ports.

Biofuel price premiums over pure conventional fuels in Rotterdam are $186/mt for B30-VLSFO HBE blends and $137/mt for B30-LSMGO HBE blends. These premiums have widened by $58-59/mt on the week.

UCOME-blends have seen more modest gains, with both Rotterdam’s B30-VLSFO UCOME and B30-LSMGO UCOME prices rising by $4/mt. As a result, the premium for B30-VLSFO UCOME over the rebated B30-VLSFO HBE price has narrowed from $157/mt last week to $126/mt.

By Nithin Chandran

Photo credit and source: ENGINE
Published: 3 December, 2024