Business

ENGINE: East of Suez Bunker Fuel Availability Outlook

Availability improves in Hong Kong; bad weather triggers suspension and delays in Zhoushan; VLSFO availability remains tight in Fujairah amid refinery maintenance.

Published

1 year ago

June 29, 2022

Admin

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:

28 June 2022

Availability improves in Hong Kong
Bad weather triggers suspension and delays in Zhoushan
VLSFO availability remains tight in Fujairah amid refinery maintenance

Singapore

Bunker fuel availability remains tight across all grades in Singapore. VLSFO is particularly tight and prompt deliveries remain difficult to find.

Recommended lead times are around 12-15 days for VLSFO and 9-10 days for HSFO, while LSMGO requires a shorter lead time of 8-9 days.

Singapore’s middle distillate stocks rose to fresh multi-week highs, while fuel oil stocks have recovered in its latest week and remain above last month’s average, according to Enterprise Singapore.

The port’s fuel oil imports fell by a massive 39% in the week to 22 June. But its average imports in June until last week have outweighed May's average.

East Asia

VLSFO and LSMGO availability has improved in Hong Kong as more replenishment stocks arrive, sources say. Recommended lead times are around 4-5 days.

Prompt deliveries are tight in South Korean ports. Recommended lead times across all grades are around 14-17 days in southern and western South Korean ports.

Bunker deliveries remain suspended amid bad weather in Zhoushan. Rough weather has disrupted bunker operations in Zhoushan since the weekend. However, calmer weather conditions expected from Thursday could help in restoring operations, sources say.

Suppliers are offering VLSFO and LSMGO earliest deliveries from 30 June as the weather is expected to calm down, a source says. VLSFO availability has improved in Zhoushan, while HSFO availability remains tight as only some suppliers can offer the grade.

VLSFO availability is tight in Shanghai as most suppliers are almost out of stock, but one supplier has sufficient availability of the grade and can offer deliveries from 30 June onwards. LSMGO is more readily available for prompt dates.

LSMGO availability is normal in the Philippines’ Manila, where a supplier can offer prompt deliveries.

VLSFO availability is normal in Indonesia’s Jakarta and Surabaya. Recommended lead times are around 3-5 days.

South Asia

Bunker fuel availability remains normal in India’s Mumbai, despite maintenance at the Indian state-owned Bharat Petroleum Corporation's (BPCL) Mumbai refinery. BPCL has halved crude processing capacity at its Mumbai refinery to conduct maintenance work that commenced on 10 June and is expected to go on for 20-25 days.

Prompt VLSFO and LSMGO stems are available with some suppliers in Mumbai.

VLSFO and LSMGO availability has improved in Vishakhapatnam on India's east coast.

In Sri Lanka’s Colombo, availability is slightly tight across all grades. Recommended lead times for VLSFO and LSMGO are around eight days. A supplier can offer deliveries for prompt dates.

Middle East

All fuel grades are in tight availability for prompt dates in Fujairah. VLSFO and LSMGO prompt deliveries are more difficult to find.

A major refinery is still undergoing maintenance in Fujairah. This has tightened VLSFO availability. The refinery is a key source of VLSFO for the domestic bunker market and exports, sources say

The refinery is likely to restart operations by the end of this week, which could take some pressure off the bunker market, a trader says. A supplier can offer VLSFO from 8 July onwards. Recommended lead times for VLSFO and LSMGO are around 10-12 days, while HSFO has a shorter lead time of five days.

LSMGO availability is tight in Saudi Arabia’s Jeddah, making lead times unpredictable.

Photo credit and source: ENGINE
Published: 29 June, 2022

Milestone

Singapore retains titles as Best Global Seaport and Best Seaport in Asia

Port of Singapore has been named the “Best Global Seaport” for the third consecutive year and the “Best Seaport in Asia” for the 35th time at the 2023 AFLAS Awards.

Published

2 days ago

September 29, 2023

Admin

Singapore retains titles as Best Global Seaport and Best Seaport in Asia

The Maritime and Port Authority of Singapore on Friday (29 September) said the Port of Singapore has been named the “Best Global Seaport” for the third consecutive year and the “Best Seaport in Asia” for the 35th time at the 2023 Asian Freight, Logistics and Supply Chain (AFLAS) Awards.

These accolades recognise the contributions by the Port of Singapore serving as a key node in the global supply chain, and Singapore’s leadership in driving maritime decarbonisation and transformation.

The annual AFLAS Awards is organised by freight and logistics publication, Asia Cargo News, to honour leading service providers in the supply chain community for demonstrating leadership as well as consistency in service quality, innovation, customer relationship management and reliability. Winners were determined by votes cast by readers of the publication.

Mr Chee Hong Tat, Acting Minister for Transport and Senior Minister of State for Finance, said: “Singapore is honoured to be named the Best Global Seaport and Best Seaport in Asia. These awards are the result of the shared effort and strong collaboration between the Government, industry, unions and workers. We will continue to grow our port as an efficient, sustainable, and trusted node in global supply chains.”

Mr Teo Eng Dih, Chief Executive of MPA, said: “These awards are testament to the partnership and collaboration between Maritime and Port Authority of Singapore (MPA) with industry and international partners, the research and enterprise community, as well as unions. MPA remains committed to fostering an environment that encourages enterprise, innovation, and talent development.”

“We will continue to work with our partners to enhance Singapore’s connectivity, advance digitalisation efforts, and accelerate the decarbonisation of international shipping in line with the 2023 IMO strategy on reduction of GHG emissions from ships.”

Photo credit: Maritime and Port Authority of Singapore
Published: 29 September, 2023

Employment

Melvin Lum appointed as KPI OceanConnect Global Accounts Commercial Director in Singapore

Lum will take on the position of Commercial Director from Thomas Lee who was recently promoted to Head of APAC in a management restructure within KPI OceanConnect.

Published

2 days ago

September 29, 2023

Admin

Melvin Lum appointed as KPI OceanConnect Global Account Commercial Director in Singapore

Global marine energy solutions provider KPI OceanConnect on Thursday (28 September) announced the appointment of Melvin Lum as Commercial Director for its Global Accounts team in Singapore.

Lum will take on the position of Commercial Director from Thomas Lee who was recently promoted to Head of APAC in a management restructure within KPI OceanConnect.

The Global Accounts team is an expert unit within KPI OceanConnect, specialised in providing long-term, tailored fuel strategy solutions to a portfolio of Key Accounts on a global scale. Dedicated regional teams located in London, Houston and Singapore work seamlessly across the world and around the clock to support their clients.

Lum joined KPI OceanConnect in 2021 as Senior Key Account manager and has made a significant contribution to the development of the team and optimisation of the daily operations of the unit in Singapore. Lum has vast experience across the supply chain and previously worked with TotalEnergies, Glencore and Global Energy Group prior to joining KPI OceanConnect.

Henrik Zederkof, Head of Global Accounts at KPI OceanConnect, said: "It is always a pleasure to witness the growth of our team members, and Melvin's progression is no exception. I have full confidence in Melvin's expertise, ability to lead the unit and dedication to his team. I look forward to seeing the progress of Melvin and his team, which will undoubtedly bring significant value to our numerous partners and the wider organisation.”

"Melvin will assume a pivotal role within the Global Accounts management team, leveraging his extensive experience in supply chain management and profound insight into emerging technologies. In his new role, Melvin will further enhance our team's skill set, aligning them with our ongoing objectives of supporting our partners in their green transition and digitalisation endeavours."

Melvin Lum, Commercial Director of KPI OceanConnect Global Accounts in Singapore, said: "I am very appreciative of the support and confidence from our management team as I take on this exciting new role. I am enthusiastic to work with the team as we continue to deliver an exceptional experience to our partners and stakeholders with dedication, innovation and passion."

Photo credit: KPI OceanConnect
Published: 29 September, 2023

Biofuel

TotalEnergies Marine Fuels renews ISCC EU certification for bio bunker fuel

Firm’s operations teams in Singapore and Geneva successfully renewed its ISCC EU sustainability certification for the supply of biofuel bunkers, says Louise Tricoire, Vice President.

Published

2 days ago

September 29, 2023

Admin

TotalEnergies Marine Fuels renews ISCC EU certification for bio bunker fuel

Louise Tricoire, Vice President of TotalEnergies Marine Fuels recently said the firm’s operations teams in Singapore and Geneva successfully renewed its International Sustainability and Carbon Certification (ISCC) EU sustainability certification for the supply of biofuel bunkers.

“This means that TotalEnergies Marine Fuels can continue sourcing and supplying marine biofuels in accordance with EU renewable energy regulations ensuring the highest sustainability standards,” she said in a social media.

“It's the third year in a row that we have successfully renewed this certification, after a deep and comprehensive audit which showed zero non-conformity.”

She added marine biofuels have grown in demand among shipping companies that want to cut greenhouse gas emissions immediately.

“TotalEnergies Marine Fuels offers marine biofuels commercially in Singapore and we are starting in Europe. This certification enables us to accompany our customers in their decarbonisation journey with the best standard solutions available today.”

Photo credit: TotalEnergies Marine Fuels
Published: 29 September, 2023