Business

ENGINE: Americas Bunker Fuel Availability Outlook

Tight prompt delivery barge availability in Panama; HSFO availability still tight in Long Beach and Los Angeles; prompt VLSFO supplies tight in Trinidad.

Published

1 year ago

August 26, 2022

Admin

Resized Americas Bunker Fuel Availability Outlook image for Manifold Times

The following article regarding bunker fuel availability in the Americas region has been provided by online marine fuel procurement platform ENGINE for post on Singapore bunkering publication Manifold Times:

25 August 2022

Tight prompt delivery barge availability in Panama
HSFO availability still tight in Long Beach and Los Angeles
Prompt VLSFO supplies tight in Trinidad

North America

Prompt VLSFO and LSMGO is readily available in the Houston area and off the US Gulf Coast. Two suppliers can deliver stems for prompt dates at the Galveston Offshore Lightering Area (GOLA). Prompt supply of these grades is also possible in the Port of Galveston.

VLSFO and LSMGO availability is normal in Port Arthur and some suppliers can offer deliveries for prompt dates.

Bunker fuel availability is normal across all grades in New York. A supplier can offer VLSFO and LSMGO for prompt dates.

All grades remain in tight availability in Long Beach and Los Angeles. HSFO in particular is difficult to secure as the grade is available with only two suppliers, sources say.

A supplier can offer VLSFO from 3 September onwards in Los Angeles, while some require at least 10 days of lead times for all grades.

Caribbean and Latin America

All grades remain in tight availability in Panama’s Balboa and Cristobal. Availability is said to be tighter in Cristobal than in Balboa. This is attributed to no fuel storage, fewer barges in operation and a busy barging schedule in Cristobal.

A supplier can offer limited quantities of LSMGO by truck to vessels at berth in Cristobal, sources say.

Prompt VLSFO and LSMGO is tight in off Trinidad and its ports while a supplier awaits VLSFO resupply cargo. Another supplier is fully booked for the remaining days of this month and can offer deliveries from 2 September onwards

Supplies for prompt dates is only available with one supplier in Trinidad, while another supplier is hesitant to offer smaller quantities of LSMGO, sources say.

Bunker demand has been sluggish in Colombia’s Santa Marta and Cartagena in recent weeks, a trader says. Prompt VLSFO and LSMGO deliveries are readily available in both ports.

VLSFO is tight for prompt dates in Curaçao as a supplier awaits resupply cargo, sources say.

LSMGO supply is good in Brazil's Salvador. A supplier can offer deliveries for prompt dates.

VLSFO and LSMGO availability is slightly tight for prompt dates in Zona Comun. Some suppliers can offer deliveries for prompt dates. VLSFO truck deliveries is available in San Lorenzo but subject to firm enquiries.

VLSFO and LSMGO availability is normal in Bahai Blanca. A supplier requires four days of lead time.

Prompt LSMGO is readily available in Chile’s Punta Arenas. A supplier can deliver stems through trucks or by barge for prompt dates, sources say. VLSFO and LSMGO availability is normal in Valparaiso, and lead times are about 5-7 days out.

By Nithin Chandran

Photo credit and source: ENGINE
Published: 26 August, 2022

Business

Malaysia: Straits Energy Resources makes move for SMF to become wholly-owned direct subsidiary

Firm has entered a conditional shares sale and purchase agreement with its subsidiary Tumpuan Megah Development for the proposed acquisition of Straits Marine Fuels & Energy shares.

Published

6 mins ago

December 1, 2023

Admin

Malaysia-listed Straits Energy Resources Berhad (SER) on Thursday (30 November) has entered into a conditional shares sale and purchase agreement with its subsidiary Tumpuan Megah Development for the proposed acquisition of Straits Marine Fuels & Energy (SMF) shares, representing 33% of the equity interest in SMF, according to a filing with Bursa Malaysia.

SMF is currently a 67%-owned direct subsidiary of SMF. Upon completion of the proposed acquisition, SMF will become a wholly-owned direct subsidiary of SER.

“The proposed acquisition entails the acquisition of the remaining 33% equity interest in SMF thus enabling Straits to consolidate the entire 100% equity interest of SMF into Straits Group,” SER said in a filing.

“The proposed acquisition will allow Straits to obtain full control in SMF Group to drive the future strategic direction and growth of SMF Group, and enable Straits to fully realise all the efforts and initiatives put in place by the company and its management in SMF Group, thereby creating greater value and improving the competitiveness of the Group.”

SER said the acquisition also represented a lower-risk investment for the Group as compared to an investment in a new business or external company.

This was due to SMF being an ongoing entity generating its own cash flow and profits as well as an existing subsidiary of the Group that does not require additional costs for integration in the group from an operational or administrative perspective.

Photo credit: Straits Energy Resources Berhad
Published: 1 December, 2023

Biofuel

Singapore: Kenoil enters milestone with STS bunker delivery of ISCC certified bio-blended LSMGO

Biofuel blended parcel also marked Kenoil’s first sale as an ISCC-certified marine fuel supplier to a prominent energy trader, which was subsequently delivered to a cruise ship in Singapore.

Published

14 mins ago

December 1, 2023

Admin

296Singapore: Kenoil enters milestone with STS bunker delivery of ISCC certified bio-blended LSMGO

ISCC-certified marine fuel supplier Kenoil Marine Services (Kenoil) on Friday (1 December) said it has successfully carried out the inaugural ship-to-ship bunker delivery of biofuel-blended low sulphur marine gas oil in Singapore.

The sustainable biofuel blend used in this milestone bunkering operation was a B24 composite blend of low sulphur marine gas oil and UCOME (Used Cooking Oil Methyl Ester).

The 200 metric tonnes (mt) parcel was loaded onto Kosmos Lily, a bunker tanker operated by Kenoil, at Jurong Port via ISO road tankers.

This biofuel blended parcel also marked Kenoil’s first sale as an ISCC-certified marine fuel supplier to a prominent energy trader, which was subsequently delivered to a cruise ship in Singapore.

Desmond Chong, Managing Director, Kenoil Marine Services, said: “We are thrilled to play an integral role in the biofuel bunker supply chain alongside forerunners in sustainable fuels. As an established bunker tanker operator and supplier, Kenoil stays abreast of emerging developments in marine fuels by collaborating with like-minded partners to provide tangible solutions to the shipping industry to meet IMO’s carbon emissions targets.”

The growing momentum towards biofuels is attributed to the readily available supply, existing infrastructure and mature technology. Biofuels not only meet sulphur compliance regulations, they also present an opportunity for vessels to reduce their CO2 emissions.

Chong emphasised Kenoil’s steadfast commitment to green shipping through active participation in various ongoing initiatives.

“Our objective is to actively contribute to the bunker supply chain, with a dedicated focus on sustainable fuels, and play a part in the advancement of Singapore as a multi-fuel bunkering hub,” he said.

Photo credit: Kenoil Marine Services
Published: 1 December, 2023

Winding up

High Court of Singapore issues winding up order to Millennium Oil

Toyota Tsusho Petroleum filed a winding up application against its former main barge operator Millennium Oil; several liquidators have been appointed to administer all affairs of Millennium Oil.

Published

18 mins ago

December 1, 2023

Admin

The High Court of Singapore on Thursday (16 November) issued a winding up order to Millennium Oil Pte Ltd, according to a 30 November notice on the Government Gazette.

The winding up application was filed by Toyota Tsusho Petroleum Pte Ltd, previously a licensed bunker supplier operating at the Port of Singapore, against its former main barge operator. The application was scheduled to be heard at the High Court of Singapore on 15 September 2023.

The winding up order also included the following names and addresses of the liquidators:

Leow Quek Shiong, GaryLoh Weng Fatt and Seah Roh Lin, all c/o BDO Advisory Pte Ltd,
600 NorthBridge Road
#23-01 Parkview Square Singapore 188778.

All creditors of Millennium Oil should file their proof of debt with the liquidators who will be administering all affairs of the company.

Manifold Times previously reported Toyota Tsusho Petroleum organising a winding up application against Millennium Oil.

The Maritime and Port Authority of Singapore (MPA) recently removed Toyota Tsusho Petroleum from its list of licensed bunker suppliers in the republic.

Manifold Times also reported Tokyo-based Toyota Tsuho Corporation deciding to cease the business operation of its subsidiary Toyota Tsusho Petroleum.

Photo credit: Sora Shimazaki on Pexels
Published: 1 December, 2023