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:
5 January, 2022
VLSFO supply continues to be tight in Singapore, keeping its price at slight premiums over other key ports like Zhoushan and Fujairah.
The earliest delivery date for VLSFO and HSFO380 stems in Singapore is 10-12 days ahead, compared to 5-6 days for the more ample LSMGO grade. HSFO380 continues to be tight as fewer suppliers offer it, while VLSFO supply has been squeezed partly as a result of fewer cargo inflows.
Singapore’s net fuel oil imports – which include both high and low sulphur grades – fell by 30% on the month in December and contributed to draw stock levels down to their lowest in three months, Enterprise Singapore data showed last week.
Gale-force winds hit Fujairah from the west on Tuesday, delaying some bunker operations and incoming cargo replenishments. The winds are set to normalise briefly on Wednesday before intensifying towards a peak of 37 knots on Thursday.
Bunker fuel availability was already tight in the UAE port, especially HSFO380. The earliest delivery date for the high sulphur grade is about 12 days ahead, compared to nine days for VLSFO and LSMGO stems.
A shortage of VLSFO cargo volumes in Fujairah has made barge loading schedules more unpredictable, sources say. Most suppliers are unwilling to commit to bigger stems, pushing up price premiums for larger quantities.
In Zhoushan, bunker fuel availability is mixed. VLSFO and HSFO380 grades are tight with suggested lead times of up to seven days. LSMGO availability is normal and prompt product is readily available.
Meanwhile, restrictions on container handling have been implemented in in Zhoushan’s adjoining port of Ningbo after a rise in Covid-19 cases, a source says.
China’s Ministry of Commerce has allocated 30% more low sulphur fuel oil for export in the first allotment of quotas for this year than it did last year, Reuters reports. The fuel will mostly end up in Zhoushan and other Chinese bunker ports and be sold for “export” as duty-free bonded bunkers.
Five suppliers were awarded quotas, with state-run Sinopec taking over 60% of the total. China recently allowed suppliers in Guangzhou and Shenzhen to supply bonded bunker fuels in a move to grow them as more competitively priced bunker ports – as it has with Zhoushan in recent years.
All fuel grades remain tight in South Korean ports. The earliest delivery date for VLSFO in the country’s southern Busan, Ulsan and Yeosu ports has been pushed back to 11-13 days out.
Photo credit: ENGINE
Published: 5 January, 2022
New Qushan anchorage reduces pressure on bunker supply, as the average waiting time at the southern anchorage is 18 hours and demand is expected to increase.
Monjasa fleet comprises of 25 tankers and barges deployed across West Africa, UAE, Northwest Europe, Houston and the Panama Canal.
Signs LOI with Jiangsu Yangzijiang Shipbuilding Group for deliveries between 2020 and 2023.
‘Toyota Tsusho Petroleum stopped working with Millennium Oil two weeks ago [in the week ended 31 January] due to a re-evaluation of internal company policies,’ an industry observer tells Manifold Times.
Official committee’s total debt amounts to $293,115,755, or 97.9%, of Aegean’s top 28 creditors.
Company plans to complete the production of 80,000 mt of low sulfur marine fuel by June 2020 using the residue hydrotreating method which is more difficult, it said.
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.
