Business

ENGINE: East of Suez Bunker Fuel Availability Outlook

Demand improves in Hong Kong; several South Korean ports face weather disruptions; availability tight across grades in Fujairah.

Published

6 months ago

March 29, 2023

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 March 2023

Demand improves in Hong Kong
Several South Korean ports face weather disruptions
Availability tight across grades in Fujairah

Singapore

Availability of VLSFO and HSFO has been getting tighter in Singapore, with recommended lead times increasing from 7-9 days last week to 8-11 days now.

LSMGO availability remains normal in the port. But lead times have gone up slightly from 3-5 days previously to 4-7 days now.

Singapore’s residual fuel oil stocks have averaged 1% higher so far this month than in February, according to Enterprise Singapore. Net fuel oil imports to Singapore have risen 14% so far this month and are at a six-month high. Imports have risen by 14%, while exports have increased by 13%.

Singapore’s middle distillate stocks have swelled by 21% so far this month over February levels.

East Asia

Lead times of 3-5 days are recommended for VLSFO in Zhoushan, and around 5-7 days are required for HSFO. Availability of LSMGO remains good, with prompt dates available - unchanged from the end of last week.

Bad weather might disrupt bunkering in Zhoushan on Thursday.

Swells of up to a metre are forecast to hit Hong Kong between 5-6 April, which may hamper bunkering operations there.

Availability of all grades remains normal in Hong Kong, while demand has been improving, a source says. Lead times of around seven days are recommended, which is virtually the same as they have been over the last couple of weeks.

Bunker supplier CPC has taken an HSFO-carrying bunker barge out of operation for maintenance in Taiwan's Kaohsiung. HSFO supply has been put on hold until May, when the barge is expected back in operation.

Demand has been improving slightly across South Korean ports, a source says. Lead times in the country's southern ports have gone up to 7-11 days, from 4-8 days previously. Meanwhile, lead times for all grades have shortened to 3-4 days in western South Korean ports, from 4-8 days last week.

Rough seas are forecast in South Korean ports of Ulsan, Onsan and Yeosu between 30 March and 1 April, and thick fog has been forecast in Daesan and Taean from today onwards. This might disrupt bunkering in the ports.

Adverse weather conditions are also predicted to hamper bunker operations in the Thai port of Koh Sichang between 2-4 April, and the Kiwi port of Tauranga between 29-30 March.

South Asia

Mumbai has good availability of VLSFO and LSMGO, with prompt dates available.

VLSFO and LSMGO can be delivered with around 2-3 days of lead time in several Indian ports, including Kandla on the northwest coast, Cochin and Chennai on the southern coast, and Visakhapatnam on the southwestern coast.

Availability is subject to enquiry in Tuticorin on India's southeast coast and in Haldia on the eastern coast.

However, bad weather might disrupt bunkering in India’s west coast ports of Kandla and Sikka between 3-4 April, a source says.

A supplier can offer both VLSFO and LSMGO in the Sri Lankan ports of Colombo and Trincomalee, with prompt dates available.

Middle East

All three grades are in tight availability in Fujairah. Lead times of VLSFO have increased from six days last week to around 10 days now. HSFO stems need around 13 days now - up from seven previously, while LSMGO requires 11 days - almost double the six days advised last week.

By Tuhin Roy

Photo credit and source: ENGINE
Published: 29 March, 2023

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

1 day 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

1 day 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

1 day 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