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:
2 February, 2022
VLSFO availability in Singapore has improved slightly, with suggested lead times shortening to 10-11 days.
The port’s net residual fuel oil imports quadrupled to 8.38 million bbls in the week to 26 January, according to Enterprise Singapore data. Cargo inflows helped boost Singapore’s inventories by 12% to a four-week high of 23.78 million bbls.
Meanwhile, Singapore’s middle distillate stocks were down by a slight 70,000 bbls, to 8.46 million bbls.
LSMGO lead times in Singapore have gone up by one day in the past week, to 6-8 days now. Suggested HSFO380 lead times in the port are unchanged at about 10 days out.
In Fujairah, VLSFO and LSMGO lead times have come down to eight days for both grades, while HSFO380 lead times remain up to 10 days out.
Fujairah’s heavy distillates and fuel oil inventories slipped 1% to 9.84 million bbls on 24 January, according to Fujairah Oil Industry Zone and S&P Global Platts data.
In Hong Kong, bunker fuel availability remains tight with a premium being charged for bunkering by some suppliers until 4 January owing to the Chinese Lunar New Year holiday. VLSFO availability had previously tightened in the port due to the alleged discovery of an off-specification cargo load.
Bunkering is also limited in Zhoushan during the holiday, with certain suppliers charging price premiums. Bunker fuel availability in Zhoushan is tight for all fuel grades. The port’s VLSFO lead times have increased to eight days. One HSFO380 supplier expects stock replenishment by 5 February.
There is no to limited bunker supply in South Korea during the Lunar New Year holiday in the country. Suppliers are set to offer fuel again from 2 February, and start supplying stems from 3 February, sources say.
In Japan, availability across bunker fuel grades remains tight with suggested lead times of 12-14 days for HSFO380 and VLSFO in Tokyo Bay. LSMGO stems require 7-9 days of lead time. Recent weather disruptions led to port congestion and longer lead times, a source said.
Photo credit: ENGINE
Published: 3 February, 2022
Cai Zhi Zhong received a total of about USD 1.3m to USD 1.6m, of which he saved a portion and spent the rest, including on property, cars and watches, according to court documents obtained by Manifold Times.
‘MFMs will continue to have a place within the bunkering sector even when the shipping industry continues to adopt new types of marine fuels, such as LNG, biofuel, methanol, ammonia and hydrogen,’ states spokesman.
Current ISO 8217 bunker fuel standard not comprehensive enough for biofuels; National Mirror Committee working with local players to develop more comprehensive biofuels standard for Singapore, says Capt. Rahul.
‘There are some important differences between VLSFO and biofuels, and as a result, parties should consider whether additional changes should be made to biofuel bunker contracts,’ says Paul Collier.
Quek Rong Hong first joined Shell sometime in 2005 and had held the position of Blending Specialist from November 2017. At the time of arrest, his monthly basic salary was about SGD 4,300, showed documents.
Glencore previously commenced Singapore International Arbitration Centre Emergency Applications against Straits Pinnacle but those applications were dismissed, according to documents obtained by Manifold Times.