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ENGINE: East of Suez Bunker Fuel Availability Outlook (12 Dec 2023)

VLSFO availability tight in Singapore; LSMGO and HSFO supply good in Zhoushan; strong bunker demand in Fujairah.

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RESIZED ENGINE East of Suez

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:

  • VLSFO availability tight in Singapore
  • LSMGO and HSFO supply good in Zhoushan
  • Strong bunker demand in Fujairah

Singapore

Singapore has been witnessing “sluggish” demand so far this week. VLSFO supply continues to remain under pressure in the port, with lead times varying widely between 6-14 days. A source claims at least seven bunker suppliers are currently grappling with tight delivery schedules in the port. Lead times of 12-16 were advised for the grade last week.

Availability of HSFO has improved in the Southeast Asian bunker hub, with lead times coming down from more than 14 days last week to 7-9 days now. LSMGO supply remains good, with almost unchanged lead times of 3-5 days.

Singapore’s residual fuel oil stocks have come down slightly in the first week of December from November levels, according to Enterprise Singapore. The port’s net fuel oil imports have plunged 76% so far in December. Both fuel oil imports and exports have declined this month. Its fuel oil imports have slumped 57% so far this month, while its exports have dipped 2%.

The port’s middle distillate stocks, on the other hand, have averaged 11% lower so far this month than in November.

China, East Asia and Oceania

VLSFO availability has shown signs of improvement in Zhoushan, with most suppliers now recommending lead times of 5-7 days. This comes after the grade was subject to enquiry last week. Despite the improvement in supply, the demand for the grade remains low because of the high premiums quoted by some suppliers, making it unattractive for buyers to bunker them.

LSMGO and HSFO supply remain good in the Chinese bunker hub, with short lead times of 2-5 days.

Meanwhile, the northern Chinese port of Dalian has good availability of VLSFO and LSMGO. The nearby port of Tianjin also has a good supply of VLSFO, but the availability of LSMGO and HSFO remains under pressure and deliveries are subject to enquiry. Prompt availability of VLSFO and LSMGO remains tight in the other northern Chinese port of Qingdao, and HSFO remains subject to enquiry there.

Both grades remain tight for prompt supply in the southern Chinese ports of Shanghai and Xiamen. HSFO availability continues to remain under pressure in Shanghai, as it has been in recent weeks.

LSMGO supply is tight in Guangzhou, but VLSFO availability remains good there. Both grades remain subject to enquiry in the southeastern port of Fuzhou.

Yangpu port, on the other hand, has good availability of both grades.

All grades remain in ample supply in Hong Kong, with unchanged lead times of 5-7 days recommended. Bad weather is forecast in Hong Kong on Wednesday and Saturday, which might disrupt bunker deliveries at the port.

Strong winds and high waves are predicted to hit the South Korean ports of Ulsan, Onsan, Busan, Daesan, Taean and Yeosu intermittently between Tuesday and Sunday, which might hamper bunker deliveries at these ports.

Meanwhile, supply of all grades has improved in South Korean ports, with lead times coming down from 5-12 days last week to 3-9 days now.

Availability of all grades has improved in Japan’s Tokyo as well, with lead times of 7-10 days - down from 10-12 days last week.

Most suppliers in Japan will accept new bunker orders until 20 December, before the beginning of the Christmas and New Year holidays, the source adds.

Tropical cyclone Jasper, which is moving north-westwards toward Queensland coastline, Australia, is predicted to make landfall on Wednesday between Cooktown and Innisfail.

Port operations were suspended in Cape Flattery, Cairns and Mourilyan on Tuesday due to the cyclone, while terminals at the ports of Abbot Point and Hay Point ceased vessel operations, according to GAC Hot Port News.

Warning has been issued in areas between Cape Flattery to Townsville (not including Townsville), which includes the port of Palm Island. Authorities will also keep an eye on potential disruption around the area between Cape Melville to Cape Flattery.

Adverse weather conditions are also forecast in the Philippine port of Subic Bay between 13-15 December, and in the Kiwi port of Tauranga between 12-14 December, which may hamper bunkering operations.

South Asia

VLSFO and LSMGO supply remains good in Kandla on India’s northwest coast, with some suppliers advising short lead times of 2-3 days.

Both grades remain in tight availability in several Indian ports including Mumbai, Chennai, Cochin, Visakhapatnam, Paradip and Haldia, with deliveries subject to availability in these ports. Bunker deliveries remain subject to enquiry in Tuticorin on the southeast coast as it has been in recent weeks.

Bad weather conditions are forecast in the Sri Lankan port of Colombo on Wednesday, which may impact bunkering.

Middle East

Prompt availability is tight for all grades in Fujairah because of the robust bunker demand in the port. Lead times of 7-10 days are recommended for all grades, while some suppliers are still able to offer the grades for prompt dates, a source says.

Most suppliers in the other UAE port of Khor Fakkan can deliver bunker stems by 15 December at the earliest, the source adds.

By Tuhin Roy

Photo credit and source: ENGINE
Published: 13 December, 2023

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Methanol

Methanol Institute: Breakthroughs and Strategic Moves in Sustainable Marine Fuels (Week 23, 3-9 June 2024)

This week, the maritime industry made pivotal advancements in methanol fuel technology, forged strategic partnerships, and achieved key regulatory milestones, highlighting a concerted effort toward greener marine operations.

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Methanol Institute logo

The Methanol Institute, provides an exclusive weekly commentary on developments related to the adoption of methanol as a bunker fuel, including significant related events recorded during the week, for the readers of bunkering publication Manifold Times:

More heavy hitters are getting behind the supply of methanol to marine customers as the demand for newbuildings continues to strengthen.

The ramp-up in biofuels provided by energy major ExxonMobil are expected to support the industry’s decarbonization process as owners place further orders, vessels hit the water and new bunkering operations are planned.

Methanol marine fuel related developments for Week 23 of 2024:

ExxonMobil Expands Marine Biofuels Offering for Shipping Industry
Date: June 4th, 2024

Key Points: ExxonMobil is expanding its marine biofuels offering, actively engaging with multiple customers, including Hapag Lloyd and Wallenius Wilhelmsen. Recent deliveries from its Fawley refinery to several UK ports have demonstrated successful biofuel use without engine modifications. Biofuels are expected to play a significant role in the first phase of shipping's decarbonization, with a future shift towards methanol, ammonia, and hydrogen. ExxonMobil is exploring technologies and pathways to meet the industry's low-emission fuel needs.

DNV: Growing Demand for Methanol-Fueled Vessels Evident in May Newbuild Orders
Date: June 4th, 2024

Key Points: DNV's recent data shows a significant increase in orders for methanol-fueled vessels, with 23 out of 33 new orders in May being methanol-powered. This trend highlights the maritime industry’s growing appetite for methanol as a viable alternative fuel, driven by its lower emissions and alignment with decarbonization goals. Methanol's role is increasingly pivotal as the shipping sector seeks sustainable and compliant fuel options to meet future environmental regulations.

NKT Orders Methanol-Powered Cable-Laying Vessel
Date: June 5th, 2024

Key Points: NKT has ordered a 176-meter dual-fuel cable-laying vessel, the NKT Eleonora, capable of running on methanol, HVO, and MDO. Scheduled for operation in 2027, this vessel reflects NKT's commitment to sustainability and enhancing installation capacity. The decision to build a methanol-fueled vessel aligns with NKT’s strategic goal of providing greener power cable solutions, supporting the industry's shift towards environmentally friendly fuels.

Hagland Shipping Orders Methanol-Convertible Bulk Carriers
Date: June 5th, 2024

Key Points: Hagland Shipping has ordered four 5,000 DWT dry bulk carriers from Dutch shipyard Royal Bodewes. These vessels are designed to be easily converted to methanol propulsion in the future, reducing CO2 emissions by 40-50% and NOx emissions by 90-95% compared to the oldest ships in their fleet. The first ship is expected to be delivered by the end of 2025, enhancing Hagland's commitment to sustainability and emission reduction in Northern Europe and the Baltic region.

Headway Technology Group Opens New Office in Greece
Date: June 6th, 2024

Key Points: Headway Technology Group (Qingdao) Co., Ltd. has inaugurated a new office in Greece, coinciding with the first day of the Posidonia 2024 exhibition. This expansion aims to strengthen Headway's presence in the European low-carbon shipping sector, providing enhanced technical support and services. The new office will showcase Headway's methanol fuel supply systems and other green technologies, reinforcing their commitment to sustainable maritime solutions and supporting the global shift towards low-emission shipping practices.

Vopak Partners to Establish Green Methanol Bu Methanol Bunkering in China
Date: June 6th, 2024

Key Points: Vopak has signed a strategic cooperation agreement with the vice mayor of Tianjin to develop a green methanol bunkering operation in Northern China's Tianjin port. This initiative aims to repurpose existing infrastructure for new energy projects, positioning Tianjin as a crucial logistics hub for green methanol development. The partnership with Tianjin Port Group underscores Vopak's commitment to supporting sustainable maritime fuels and contributing to the global energy transition.

New Methanol-Ready Fallpipe Vessel Named "Yellowstone"
Date: June 7th, 2024

Key Points: DEME Group's new fallpipe vessel, the 37,000 DWT "Yellowstone," has been officially named in a ceremony held in Zeebrugge, Belgium. The vessel, designed for future conversion to methanol dual-fuel propulsion, features a hybrid power plant with a 1 MWh Li-ion battery. The naming ceremony, attended by Her Royal Highness Princess Astrid, underscores DEME's commitment to innovation and sustainability in marine operations.

 

Photo credit: The Methanol Institute
Published: 14 June 2024

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HSFO

Baltic Exchange: Bunker Report (13 June 2024)

Bunker report panellists include Island Oil Limited, Cockett Marine Oil Pte, Monjasa A/S and KPI OceanConnect.

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Baltic bunker report 13 June

The following bunker report has been provided by freight market information provider Baltic Exchange for post on Singapore bunkering publication Manifold Times:

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 UK time, on Tuesday & Thursdays

Panellists:
Island Oil Limited, Cockett Marine Oil Pte, Monjasa A/S, KPI OceanConnect

 

Photo credit and source: Baltic Exchange
Published: 14 June 2024

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HSFO

ENGINE: Americas Bunker Fuel Availability Outlook (13 June 2024)

Availability tight in NOLA; low bunker demand in GOLA; bad weather disrupts Freeport bunkering.

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RESIZED ENGINE Americas

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:

  • Availability tight in NOLA
  • Low bunker demand in GOLA
  • Bad weather disrupts Freeport bunkering

North America

Bunker demand has remained good in Houston and several other locations along the US Gulf Coast this week. Availability of all fuel grades has been normal for prompt supply in Houston. Several suppliers in Houston have ample VLSFO and LSMGO availability and are actively offering stems for prompt deliveries. VLSFO stems for non-prompt dates were being fixed at as low as $567/mt on Thursday.

Prompt VLSFO and LSMGO supply is available in Bolivar Roads and Beaumont. However, bunker deliveries in these locations remain subject to weather conditions and the availability of anchorage spaces, a source says.

Availability has tightened in the New Orleans Outer Anchorage’s (NOLA) this week. One supplier requires 7–10 days to deliver VLSFO and LSMGO stems in NOLA.

Bunkering was proceeding normally in the Galveston Offshore Lightering Area (GOLA) on Thursday amid good weather conditions. The weather is forecast to remain calm over the weekend and into next week. Overall, demand has been very low this week at the anchorage.

The ports of Los Angeles and Long Beach on the West Coast have experienced a notable surge in demand this week. One contributing factor could be the competitive bunker prices in the twin ports compared to prices seen in other West Coast ports like Seattle and Vancouver.

VLSFO and LSMGO availability has been better than normal in Los Angeles and Long Beach. One supplier can supply both grades with a lead time of just four days, which is much shorter than the typical 7-9 days observed in these ports.

Prompt VLSFO and LSMGO are available in the East Coast port of New York.

Baltimore’s main shipping channel has been restored to its full depth and width after the removal of debris from the Francis Scott Key Bridge collapse. Bunker demand has been steady there, and most suppliers are able to offer stems with a lead time of 5-7 days.

Caribbean and Latin America

Bunker fuel availability has been normal in the Panamanian ports of Balboa and Cristobal. At least four suppliers can offer all bunker grades in Balboa, with lead times of up to seven days.

Demand has surged for Balboa compared to Cristobal for prompt dates.

Bunker operations were suspended in the Bahamas’ Freeport on Thursday due to strong wind gusts of up to 27 knots. The weather is expected to remain rough until Saturday, which could cause prolonged delays and disruptions.

Operations were also suspended in Argentina's Zona Comun anchorage on Thursday due to adverse weather conditions. The area was experiencing strong wind gusts of up to 30 knots, making barge deliveries difficult there.

Availability of VLSFO and LSMGO remains tight in Zona Commune for prompt dates. One supplier can offer VLSFO stems at the anchorage only for deliveries after 20 June, a source says.

In Brazil, bunker demand has been low across most ports, including Santos and Rio de Janeiro. Several suppliers are able to offer stems with a lead time of 5-7 days.

By Debarati Bhattacharjee

 

Photo credit and source: ENGINE
Published: 14 June, 2024

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