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ENGINE: East of Suez Bunker Fuel Availability Outlook (21 Nov 2023)

VLSFO availability tight in Zhoushan; South Korean ports face weather disruptions; good 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 Zhoushan
  • South Korean ports face weather disruptions
  • Good demand in Fujairah

Singapore

A source says Singapore has been seeing “muted” demand so far this week. VLSFO continues to be under pressure in Singapore as several suppliers are facing tight delivery schedules. Terminals have been jammed by several tankers loading and discharging cargoes, which has held up bunker delivery vessels from loading, a source says. Lead times of around 11-13 days are recommended for VLSFO – almost unchanged from the end of last week.

HSFO is also under pressure in the Southeast Asian bunker hub, with some suppliers advising lead times stretching out to more than two weeks now – up from 11-13 days last week. LSMGO availability, on the other hand, is good, with short lead times of 2-3 days.

According to Enterprise Singapore, the port’s residual fuel oil stocks have averaged 6% lower so far this month than across October. Singapore’s net fuel oil imports have slumped 41% lower in November.

Singapore’s middle distillate stocks, however, have climbed 14% higher on the month.

China, East Asia and Oceania

A source says VLSFO availability has come under pressure in Zhoushan as several suppliers are running low on stocks. Most suppliers have been hesitant to offer and will only respond to bunker enquiries on a “case by case” basis. The grade required lead times of 5-10 days last week.

On the other hand, HSFO availability has improved in the Chinese bunkering hub, with lead times of 5-7 days recommended – down from 5-10 days last week. LSMGO remains readily available at the port.

Meanwhile, the northern Chinese port of Dalian has good supply of VLSFO and LSMGO. The nearby port of Tianjin also has good availability of VLSFO, but supply 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 has persistently been 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 under pressure in the southeastern port of Fuzhou, with deliveries subject to enquiry.

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

All grades remain in good supply in Hong Kong, with several suppliers recommending unchanged lead times of 5-7 days. Bad weather conditions are forecast in Hong Kong between Friday and Saturday, which might impact bunkering operations.

Strong winds and high waves are predicted to hit the South Korean ports of Busan, Ulsan, Onsan and Yeosu between 23-26 November, and Daesan and Taean between 22-25 November, which may disrupt bunker deliveries at these ports.

Availability of HSFO has improved in South Korean ports amid low demand, a source says. Several suppliers are advising lead times of around four days for the grade. Lead times of HSFO varied widely between 5-13 days last week.

VLSFO and LSMGO grades are in ample supply in South Korea, with lead times of around four days recommended – virtually unchanged from last week.

Adverse weather conditions are forecast in the Philippine port of Subic Bay between 25-26 November, in the Thai ports of Koh Sichang and Leam Chabang between 26-27 November, and in the Kiwi port of Tauranga between 24-25 November, which may affect bunkering.

South Asia

VLSFO and LSMGO supply remains good in Kandla on India’s northwest coast and Cochin on the southern 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, Visakhapatnam, Paradip, Tuticorin and Haldia, with deliveries subject to availability in these ports.

Rough weather is forecast in the Indian port of Kochi on 23 November, which might impact bunkering operations.

Middle East

Availability of all grades remains “super tight” in Fujairah amid good demand, with unchanged lead times of 7-10 days advised. But some suppliers can still offer prompt deliveries for all grades, a trader says.

Lead times of around five days are needed for all bunker fuel grades in the nearby UAE port of Khor Fakkan.

By Tuhin Roy

Photo credit and source: ENGINE
Published: 22 November, 2023

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Bunker Fuel

Panama bunker fuel sales volume drops by 2.3% on year in April 2024

Total bunker sales at Panama was 375,848 mt in April 2024, compared to sales of 384,656 mt during the similar period in 2023, according to PMA data.

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RESIZED jhernandezb05 from Pixabay

Bunker fuel sales at Panama fell by about 2.3% in April 2024, according to the latest data from La Autoridad Maritima de Panama, also known as the Panama Maritime Authority (PMA).

Total bunker sales at Panama was 375,848 metric tonnes (mt) in April 2024, compared to sales of 384,656 mt during the similar period in 2023. 

In April 2024, the Pacific side of Panama posted bunker sales of 302,207 mt; 170,075 mt of VLSFO, 108,242 mt of RMG 380, 3,770 of marine gas oil (MGO), and 20,120 mt of low sulphur marine gas oil (LSMGO) were delivered.

The similar region saw total marine sales of 312,199 mt a year before on April; with VLSFO sales at 219,001 mt, RMG 380 sales at 63,690 mt, MGO sales at 5,662 mt, and 23,846 mt of LSMGO being sold.

Panama’s Atlantic side, meanwhile, recorded total bunker fuel sales of 73,641 during April 2024; the figure comprised 55,657 mt of VLSFO, 5,851 mt of RMG 380, 2,565 mt of MGO, and 9,568 mt of LSMGO.

It saw total sales of 72,457 mt in April a year before; with VLSFO sales of 54,346 mt, RMG 380 sales of 6,251, 4,720 mt of MGO, and LSMGO sales of 7,140 mt.

 

Photo credit: jhernandezb05 from Pixabay
Published: 20 May 2024

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Bunker Fuel

Baltic Exchange: Bunker Report (16 May 2024)

On 15 April, intraday volatility was heightened, Brent as low as $81.05 and hitting highs of $83.07, over $2/bbl spread, which equates to roughly $12/mt in bunker fuel terms.

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Baltic Exchange: Bunker Report (16 May 2024)

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

Commentary:

Yesterday, intraday volatility was heightened, Brent as low as $81.05 and hitting highs of $83.07, over $2/bbl spread, which equates to roughly $12/mt in bunker fuel terms. IEA reported a decline in its global demand growth outlook causing oil prices to deepen losses. EIA stats reported a drop in US crude oil inventories (- 2.5mbbls) and modest declines in refined products, aiding the bounce back to positive territory.

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: 17 May, 2024

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Bunker Fuel

ENGINE: Europe & Africa Bunker Fuel Availability Outlook (15 May 2024)

Bunker supply is normal in the ARA hub; bunkering partially suspended in Las Palmas; LSMGO very tight in Maputo.

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RESIZED ENGINE Europe and Africa

The following article regarding Europe and Africa bunker fuel availability has been provided by online marine fuel procurement platform ENGINE for post on Singapore bunkering publication Manifold Times:

  • Bunker supply is normal in the ARA hub
  • Bunkering partially suspended in Las Palmas
  • LSMGO very tight in Maputo

Northwest Europe

Bunker fuel availability is good in Rotterdam and in the wider ARA hub. Lead times for VLSFO in Rotterdam have come down from 4-5 days noted last week to 3-5 days now, a trader said. Similar lead times of 3-5 days are recommended for HSFO and LSMGO in the ARA hub.

The ARA hub has imported 362,000 b/d of fuel oil so far this month, up from 252,000 b/d of fuel oil imported in April, according to cargo tracker Vortexa.

Lithuania and Algeria have emerged as the ARA’s biggest fuel oil import sources so far this month, each accounting for 18% of the region’s total imports. Denmark holds the second spot, accounting for 17% of the region’s total imports, followed by France (13%) and Estonia (9%).

The region has imported 538,000 b/d of gasoil so far this month, up from 358,000 b/d in April.

Bunker fuel availability is normal in the German port of Hamburg. Suppliers are able to offer prompt supply for all grades in the port. Lead times of 3-5 days are advised to ensure full coverage from suppliers, a trader said.

Very prompt availability is tight across all bunker fuel grades off Skaw, with some suppliers able to offer stems only for non-prompt dates. A trader advises lead times of 7-10 days for all bunker fuel grades in the port. 

Mediterranean

Bunkering was proceeding smoothly in Gibraltar on Wednesday, with minimal congestion reported, a trader told ENGINE. The trader advised lead times of 2-4 days across all grades, down from 4-6 days seen last week.

Bunkering has been suspended in Las Palmas' outer anchorage since Monday because of rough weather conditions. Operations are unlikely to resume at the outer anchorage until Friday afternoon due to a forecast of rough weather conditions, a trader said.

Most suppliers continue to deliver stems at Las Palmas' more sheltered inner anchorage or alongside, the trader added. Availability is normal across all grades, but adverse weather conditions have increased lead times for all grades from 3-5 days advised last week to 4-6 days now.

Bunker demand has been steady in other Mediterranean ports like Piraeus, Malta Offshore and Istanbul, according to a trader.

Availability is normal in the Greek port of Piraeus. Lead times of 3-4 days are advised across all grades in the port. Calm weather has made it conducive to bunkering in the port, a source said.

Bunker fuel availability is also good off Malta. A trader recommends lead times of 3-4 days for all grades in the port. Bad weather is forecast to hit in periods until Saturday and may complicate bunker deliveries in the region, a source said. 

In Turkey’s Istanbul port, securing grades for very prompt dates can be difficult. Lead times of 3-4 days are recommended for all grades. Adverse weather conditions on Wednesday and Thursday could impact bunkering there.

Yacht races are scheduled to take place in the Bosphorus Strait on Sunday on the occasion of Atatürk, Youth and Sports Day, according to GAC Hot Port News. During this period, ship traffic will be temporarily suspended for a few hours.

Africa

Suppliers can offer VLSFO for non-prompt delivery dates in the South African ports of Durban and Richards Bay. A trader advises lead times of 7-10 days for the bunker fuel grade in both ports.

Durban also has normal availability of LSMGO. Lead times of 7-10 days are recommended. Wind gusts of up to 24 knots are forecast on Friday, which could impact bunkering in Durban.

Mozambique’s port of Nacala has good availability of HSFO and LSMGO. Demand has been steady for both grades, a source said. VLSFO availability is extremely tight in the port amid high demand for the grade.

In contrast, VLSFO availability has been good in Maputo port in Mozambique. The grade's demand has been steady there. Meanwhile, LSMGO demand has been relatively high in Maputo, which has contributed to tighten supply in the port.

By Manjula Nair

 

Photo credit and source: ENGINE
Published: 16 May 2024

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