Business

ENGINE: Americas Bunker Fuel Availability Outlook

Rotterdam’s HSFO price surges to 11-month highs; availability normal in most Mediterranean ports; tight supply in Nacala.

Published

1 year ago

July 28, 2023

Admin

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:

27 July 2023

Rotterdam’s HSFO price surges to 11-month highs
Availability normal in most Mediterranean ports
Tight supply in Nacala

Northwest Europe

Prompt HSFO supply remains tight in Rotterdam and in the wider ARA hub. Tight supply has contributed to push Rotterdam’s HSFO prices above $500/mt for the first time since last September. Loading delays at the oil terminals have added more pressure on bunker availability of the grade, a source says.

The spike in Rotterdam's HSFO price has contributed to narrow the port’s Hi5 to just $60/mt. Lead times for HSFO stretch to almost one week out. Several suppliers in Rotterdam are still hesitant to offer large stems due to limited product availability, a trader says.

VLSFO availability has improved in Rotterdam. Recommended lead times for the grade have dropped from 5-7 days last week to 4-5 days now. LSMGO is also readily available in Rotterdam and in the wider ARA hub, with unchanged lead times of 2-3 days.

The ARA’s independent gasoil inventories – which include diesel and heating oil – have averaged 11% lower so far this month than across June.

VLSFO and LSMGO availability remains normal for delivery off Skaw, a source says. HSFO is relatively tighter there as fewer suppliers offer the grade. Recommended lead times for all grades remain unchanged at 7-10 days, however. Barge availability is said to be normal.

Bunker fuel availability is normal in the German port of Hamburg, with lead times of five days advised.

Mediterranean

HSFO availability has improved in Gibraltar, with lead times decreasing from last week’s seven days, to five days now. VLSFO and LSMGO availability is normal across Gibraltar, Algeciras and Ceuta. Recommended lead times for VLSFO and LSMGO remain unchanged at 3-5 days.

Product availability is said to be normal across Gibraltar Strait ports, and prompt supply is possible, a source says.

Minimum congestion was reported in Gibraltar, Algeciras and Ceuta on Wednesday, according to port agent MH Bland. One supplier in Gibraltar and three in Algeciras were behind schedule.

VLSFO and LSMGO availability is said to be normal in the Portuguese ports of Lisbon and Sines. “We have plenty of product”, a supplier said. However, going forward supply may tighten due to upcoming refinery maintenances. According to Wood Mackenzie data, the Galp refinery in Sines is expected to undergo periodic maintenances between October and November, which could impact crude distillation capacity and possibly limit bunker resupply to Portuguese ports.

Bunker fuel availability also remains good for prompt supply off Malta, while four days of lead times are recommended for HSFO, VLSFO and LSMGO deliveries in the Greek port of Piraeus.

Africa

VLSFO and LSMGO availability is normal in the South African ports of Durban and Cape Town, and at the Algoa Bay anchorage by Port Elizabeth, where lead times of up to seven days are still recommended, a source says.

Bunkering is progressing normally in Algoa Bay, according to Rennies Ships Agency. But strong wind and high swells are forecast to hit the bay in periods between Saturday and Sunday, which could delay operations or trigger suspension there.

VLSFO and HSFO availability is tight in Mozambique’s Nacala port, a source says. HSFO is even tighter there, with delivery dates stretching to mid-August. Meanwhile, LSMGO remains readily available for prompt dates.

In Maputo, VLSFO and LSMGO availability is normal for prompt dates.

By Nithin Chandran

Photo credit and source: ENGINE
Published: 28 July, 2023

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China: Zhoushan to host 7th IPEC commodities, bunker conferences on 16 to 17 October

Global marine bunker development will be among main topics of discussion at the 7th International Petroleum and Natural Gas Enterprises Conference (IPEC).

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2 days ago

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China: Zhoushan to host 7th IPEC commodities, bunker conferences on 16 to 17 October

The 7th International Petroleum and Natural Gas Enterprises Conference (IPEC) is taking place at Zhoushan, Zhejiang province, China between 16 to 17 October.

The agenda, provided by the Zhoushan High-tech Zone Administrative Committee to foreign event media partner Singapore bunkering publication Manifold Times, is as follows:

16 October

Registration and sign-in for participating guests
Meetings between Zhejiang Provincial and Zhoushan Municipal leaders with VIPs

17 October

Morning

Plenary Session of the Conference (Oriental Hall, Zhoushan International Conference Center)

Leader’s speech, guest keynote speech, signing of major projects

Discussion Topics [*17 October, 2pm to 5pm]

Focus Topic Meeting: Global marine bunker development*
Location: Haitian Hall, Haizhongzhou International Hotel, Zhoushan

14:00-14:05 - Opening of the Meeting

14:05-14:15 - Speech by Leaders

14:15-14:30 - Announcement of "Top Ten Global Bunkering Ports" and "Top Ten Global Bunkering Companies"

14:30-14:40 - Announcement of Construction Work of Northeast Asia Bonded Marine Fuel Bunkering Hub

14:40-14:50 – Launch ceremony of Zhoushan "White-list" Bunker Barge Mass Flow Meter System Pilot Certification Programme

14:50-15:10 - Signing Ceremony

15:10-16:10 - Keynote speech

16:10-16:35 - Coffee break

16:35-17:05 - Roundtable forum (Topic: Facing green and low-carbon transformation in global shipping, how do marine fuels change in response to the trend?)

17:05-17:35 - Roundtable forum (Topic: The road to develop high-quality offshore fuel bunkering metering under the new developments)

17:35-17:40 - Moderator’s summary

Utilising financial innovation, futures and spot cooperation to promote the construction of a hub for the allocation of bulk commodity resources*
Location: Putuo Hall, Zhoushan International Conference Center

Open development of global shipping trade*
Location: Donghai Hall, Hilton Zhoushan

International iron ore trade development*
Location: Banquet Hall 1/3, The Westin Zhujiajian Resort, Zhoushan

Development of China's new chemical materials industry during the “15th Five-Year Plan”*
Location: Banquet Hall 1/3, The Westin Zhujiajian Resort, Zhoushan

Development of non-ferrous metal mining industry*
Location: Lianhua Ocean Hall, Hilton Zhoushan

16 and 17 October
International maritime law of the free trade port (zone)
Location: Fortune Hall, Zhoushan CaiFu Hotel

Photo credit: Zhoushan High-tech Zone Administrative Committee
Published: 11 October, 2024

Alternative Fuels

SIBCON 2024: Vitol anticipates securing LNG bunker licence in Singapore

‘It would be unthinkable not to deploy at least one of the three barges Vitol has on order in Singapore,’ says Vitol’s Head of Asia Mike Muller during a panel discussion.

Published

3 days ago

October 11, 2024

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SIBCON 2024: Vitol anticipates securing LNG bunker licence in Singapore

Energy trader Vitol’s Head of Asia Mike Muller on Wednesday (9 October) said the company is anticipating being granted a LNG bunker licence in Singapore soon.

“It would be unthinkable not to deploy at least one of the three barges Vitol has on order in Singapore,” he said.

Mike Muller made the announcement during the Viewing the Energy Transition Through the Lens panel discussion at the 23rd Singapore International Bunkering Conference (SIBCON).

“We expect to see growth in LNG use as a bunker fuel for at least another decade, and probably longer,” he added.

On the increasing uptake of biofuels, he said Vitol is seeing demand for biofuel blended bunkers in Singapore roughly doubling every year at the moment, heading for around 1 million mt this year and maybe 2 million mt next year.

“Demand for 100% biofuel from shipping customers is also starting to pick up as of this year and we have led the way in commissioning new IMO type 2 barges to fulfil this demand - indeed an important Asian customer of ours has taken three deliveries of B100 UCOME biofuel just in recent weeks here in Singapore,” Muller explained.

Manifold Times previously reported Vitol securing three LNG Bunkering Vessels (LNGBV) through its shipping company, Vitol International Shipping Pte Ltd (VIS).

The vessels were secured via a seven to ten year time charter agreement with Avenir LNG Limited (Avenir) and an order for two vessels at the CIMC Sinopacific Offshore & Engineering Co. Ltd shipyard in Nantong, China.

The time charter agreement with Avenir is for one newbuild 20,000m3 LNGBV. The time charter will commence at delivery from the shipyard in China in Q4 2026 and will serve a period of seven years with options to extend up to ten years in total

Vitol also ordered one 12,500 m3 and one 20,000 m3 LNGBV at the CIMC SOE shipyard in China. The vessels will be delivered in Q4 2026 and Q3 2027 respectively.

Photo credit: Vitol
Published: 11 October, 2024

Bunker Fuel

SIBCON 2024: Bunker players sign SCMA pledge to drive progress within Maritime Singapore

Bunker players involved include Consort Bunkers, Equatorial Marine Fuel, Golden Island, Hong Lam Marine, Kenoil Marine Services, Marubeni International Petroleum and Sinopec Fuel Oil.

Published

3 days ago

October 11, 2024

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SIBCON 2024: Bunker players sign SCMA pledge to drive progress within Maritime Singapore

Some 10 bunker players on Tuesday (8 October) signed a pledge with Singapore Chamber of Maritime Arbitration (SCMA) at the 23rd Singapore International Bunkering Conference and Exhibition (SIBCON).

The bunker players involved are Consort Bunkers Pte Ltd, Equatorial Marine Fuel Management Services Pte Ltd, Fratelli Cosulich Bunkers (S) Pte Ltd, Global Energy Trading Pte Ltd, Golden Island Pte Ltd, Hong Lam Marine Pte Ltd, Kenoil Marine Services Pte Ltd, Marubeni International Petroleum (S) Pte Ltd, Sinopec Fuel Oil (Singapore) Pte ltd and Victory Pte Ltd.

SCMA and the pledgees will work together to promote and enhance the capabilities and opportunities within the Maritime Singapore community and ecosystem.

Among the aspirational goals embodied by the SCMA Pledge is that the pledgees give preferential consideration, where appropriate, for the use of the SCMA Arbitration Rules for the resolution of their maritime or international trade disputes.

The bunker players may also use its best endeavours to support the Maritime Singapore community and ecosystem, including contributing to the development and dissemination of best practices as well as providing support and opportunity to young maritime legal and dispute resolution professionals in the form of internships, mentorships, and educational seminars aimed at fostering the next generation of maritime leaders.

SCMA, a specialist arbitration institution, is the only arbitration institution in Singapore focused on maritime and international trade disputes.

It offers the maritime and international trade sectors a set of arbitration rules and guidelines which are flexible and cost effective.

Users of SCMA arbitration include maritime companies, international traders and commodity companies for the resolution of their disputes such as those involving charterparty, bunker, commercial sales, cargo, oil and gas, shipbuilding and ship repair.

Photo credit: Singapore Chamber of Maritime Arbitration
Published: 11 October, 2024