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:
19 January, 2022
VLSFO bunker supply remains tight in Singapore due to an ongoing shortage of blends, and with lead times standing at 9-11 days out. Similarly, HSFO380 stems require up to 12 days ahead in the port, while LSMGO availability is better in the bunkering hub with a shorter recommended lead time of just 1-2 days.
Singapore’s residual fuel oil inventories have grown to 22.34 million bbls on the week, amid a steady inflow of imports in the first two weeks of the year.
Fuel oil imports have hovered around 7 million bbls per week in January and averaged 40% higher than in December, according to the latest Enterprise Singapore data.
Despite a rise in the most recent week, exports into Singapore have dropped by 30% between November and December, resulting in an 87% jump in net imports and boosting stock levels.
At the same time, bunker fuel availability has gone back to normal in Zhoushan after weather-related suspensions last week. There is not too much backlog, a source said, adding that lead times for HSFO380 are up to four days, while VLSFO and LSMGO grades are available with one day of lead time from certain suppliers. One supplier is expected to receive new VLSFO cargo to replenish stocks by 27-28 January.
Lead times in Fujairah are steady on the week, with HSFO requiring 10 days ahead now, while VLSFO and LSMGO are more readily available at eight days out. Limited fuel oil cargo fuel oil flows into Fujairah have capped availability in the bunker market, sources say.
Fujairah’s heavy distillate and fuel oil inventories fell by 9% to a three-week low of 9.18 million bbls last week, according to Fujairah Oil Industry Zone and S&P Global Platts data.
Photo credit: ENGINE
Published: 20 January, 2022
Program introduces periodic assessments, mass flow metering data analysis, and regular training for relevant key personnel to better handle the MFMS to ensure a high level of continuous operational competency.
U.S. Claims Register Summary recorded a total USD 833 million claim from a total 180 creditors against O.W. Bunker USA, according to the creditor list seen by Singapore bunkering publication Manifold Times.
Glencore purchased fuel through Straits Pinnacle which contracted supply from Unicious Energy. Contaminated HSFO was loaded at Khor Fakkan port and shipped to a FSU in Tanjong Pelepas, Malaysia to be further blended.
Individuals were employees of surveying companies engaged by Shell to inspect the volume of oil loaded onto the vessels which Shell supplied oil to; they allegedly accepted bribes totalling at least USD 213,000.
MPA preliminary investigations revealed that the affected marine fuel was supplied by Glencore Singapore Pte Ltd who later sold part of the same cargo to PetroChina International (Singapore) Pte Ltd.
‘MPA had immediately contacted the relevant bunker suppliers to take necessary steps to ensure that the relevant batch of fuel was no longer supplied. Further investigations are currently on-going,’ it informs.