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:
21 February 2023
Singapore
Singapore has been witnessing steady bunker demand so far this week. Availability of prompt dates for VLSFO and HSFO remains tight in the port, with recommended lead times of 7-9 days and 8-9 days, respectively. This is almost same as the previous week’s 7-8 days and 6-9 days, respectively.
Residual fuel oil stocks in Singapore have averaged 2% higher so far in February than in January, according to Enterprise Singapore. The port’s net fuel oil imports have declined 6% so far this month than across January. Both fuel oil imports and exports are down this month.
Meanwhile, Singapore’s middle distillate stocks are down 11% lower so far this month amid few incentives to store product in a backwardated market.
The port’s LSMGO price currently lingers around multi-month low levels after having lost a massive $122/mt since the beginning of this month. The downward LSMGO price trend in Singapore has largely mirrored front-month Singapore 10ppm gasoil futures.
Singapore 10ppm is in backwardation, with nearly $8/mt between the front- and second-month contracts. Its second-to-third month spread is slightly wider at around $9/mt. LSMGO stems need lead times of 2-3 days, steady with prior week.
Strong wind gusts between 19-22 knots are forecast in Singapore on 26 February, which may hit bunkering operations.
East Asia
Bunkering has resumed at Zhoushan’s slightly sheltered Xiushandong anchorage and at the inner anchorage of Mazhi after being suspended by bad weather on Monday evening, according to White Whale Shipping Agency.
Meanwhile, rough weather has kept bunkering halted in the Tiaozhoumen and Xiazhimen anchorages. The port is currently witnessing strong wind gusts of up to 17 knots.
Bunkering operations are likely to resume in the Tiaozhoumen and Xiazhimen anchorages from morning tomorrow when calmer weather is forecast.
Fuel availability remains tight for prompt dates across all grades in Zhoushan, but recent bouts of weather disruptions have hit bunker demand and by extension prevented further tightness in the port. VLSFO and LSMGO stems require lead times of 3-5 days, and HSFO needs 5-7 days.
However, strong wind gusts of 19-24 knots and swells of close to a metre are forecast to hit the Chinese bunkering hub between 24-25 February, which might lead to another bunker suspension.
Strong wind gusts and swells are also forecast to hit Hong Kong between 21-22 February and towards the beginning of next week, which might impact bunkering operations in the port.
Availability remains good across all grades in Hong Kong, while demand has been sluggish. VLSFO and LSMGO stems require lead times of around four days in the port, down from seven days previously. Prompt dates for HSFO are, however, subject to enquiry, a source says.
Bunker demand remains sluggish across South Korean ports, a source says. Lead times across all grades in southern South Korean ports are 4-8 days, down from a wide range of 3-11 days in the prior week. Meanwhile, stems require 3-4 days in western South Korean ports, almost same as the last week’s around four days.
Bad weather is forecast intermittently through the week in the South Korean ports of Ulsan, Onsan, Daesan, Taean and Yeosu, which may hamper bunkering, a source says.
Bad weather might disrupt bunker operations in the Philippine port of Subic Bay between 25-28 February.
The Thai ports of Koi Sichang and Leam Chabang are likely to experience adverse weather conditions between 26-28 February, which might hamper delivery of stems.
South Asia
VLSFO and LSMGO remains readily available in India’s Mumbai, with short lead times of 2-3 days.
Availability of VLSFO and LSMGO remains good in Kandla on India’s northwest coast, with lead times of 2-3 days advised.
Cochin and Chennai on the southern coast of India have good availability of both VLSFO and LSMGO, with lead times of 2-3 days recommended. Meanwhile, availability of both the grades remains subject to enquiry in Tuticorin.
Prompt dates are available for both VLSFO and LSMGO in Visakhapatnam on India’s southwestern coast.
Availability of the grades in Haldia on India’s east coast is subject to enquiry.
However, the Indian ports of Kandla, Sikka and Mundra are struggling with congestion and backlogs, which is only expected to ease by 27 February, a source says.
LSMGO and HSFO are readily available in the Sri Lankan port of Colombo, with prompt dates possible.
Middle East
Availability across all grades remains tight in Fujairah as several suppliers are working to clear backlogs created by rough weather conditions over the weekend. A source says suppliers are working through choppy weather conditions to prevent congestion at the port.
Normal bunker demand at the UAE port has contributed further to the tightness of the port. Lead times of around seven days are recommended across all grades in the port now. While lead times are up for VLSFO (around six days) and LSMGO (around four days) from the previous week, it has come down for HSFO (almost 11 days).
Availability of LSMGO remains very good in the Omani ports of Muscat, Salalah, Sohar and Duqm, with prompt dates available.
By Tuhin Roy
Photo credit and source: ENGINE
Published: 22 February, 2022
Under this scale-up initiative, EcoLabs and its partners will support each firm with SGD 100,000, in-kind contribution, investments and co-funding of projects.
Firms interested in applying for quota should have domestic bank credit lines of not less than USD 20 million or RMB 120 million with access to storage facilities.
TFG Marine will supply HSFO, MGO and VLSFO bunker fuel to bulk carriers, oil tankers and container vessels calling at the Port of Singapore by May 2020
Emanuela Franchini, formerly from Asamar, joins the international bunkering firm effective 1 May, 2019.
NYK’s “Jasmine Leader”, one of the largest PCTC vessels in the world, successfully completed her LNG bunkering with “FueLNG Bellina” on 8 March 2023.
Firm decided to maintain current prices the measure to recover from high oil prices, it says.
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.
