Business

ENGINE: East of Suez Bunker Fuel Availability Outlook

Availability good in Zhoushan; South Korean ports face weather disruptions; LSMGO availability good in Omani ports.

Published

3 months ago

June 21, 2023

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:

20 June 2023

Availability good in Zhoushan
South Korean ports face weather disruptions
LSMGO availability good in Omani ports

Singapore

Demand has been very “bullish” in Singapore so far this week, a source says. VLSFO and HSFO availability has gotten tighter in the port. Lead times for VLSFO have gone up from 7-9 days to 8-10 days, and for HSFO from 5-9 days to 11-13 days.

On the other hand, LSMGO remains more readily available in Singapore, with prompt dates available.

Singapore’s residual fuel oil stocks have averaged 7% higher in the first two weeks of June than in May, according to Enterprise Singapore.

The port’s net fuel oil imports have surged by 34% over May levels, and to their highest so far this year. While the port’s fuel oil imports have risen by 22% and are at their highest level since June last year, the fuel oil exports have inched up by only 1%. This has comfortably tilted the port’s trade balance into net imports in support of stocks this month.

Meanwhile, the port’s middle distillate stocks have risen by 11% on the month.

East Asia and Oceania

A source says that availability across all grades remains good in Zhoushan amid weak demand. Short lead times of 2-5 days are recommended for all bunker fuel grades – virtually unchanged from last week. Some supplies can offer all grades for delivery on even more prompter dates depending on stem sizes, the source adds.

Hong Kong has seen average demand recently. Lead times for all grades have increased slightly in the port, from around seven days last week to 7-10 days now.

Meanwhile, VLSFO has been getting tight in some South Korean ports as several suppliers are low on stocks. Availability of the grade is now subject to enquiry, a source says.

Some suppliers that were offering LSMGO and HSFO for prompt delivery dates in South Korean ports last week are now offering both grades with slightly longer lead times of 3-7 days.

The South Korean ports of Ulsan, Onsan, Busan, Daesan, Taean and Yeosu are forecast to experience adverse weather conditions intermittently between 21-25 June, which could disrupt bunker deliveries.

Rough weather conditions are also forecast in the Kiwi port of Tauranga between 21-14 June, which might hamper bunker operations.

South Asia

India's southern ports of Cochin and Chennai and western port of Kandla have good VLSFO and LSMGO availability, with short lead times of 2-3 days.

A source says that both grades remain quite tight in the Indian ports of Mumbai, Visakhapatnam and Paradip, as they have been in the recent weeks. Delivery dates are subject to availability. Meanwhile, bunker deliveries in Tuticorin on the southeast coast, and Haldia on the east coast, remain subject to enquiry, the source adds.

Several key west coast ports including Mundra, Sikka and Pipavav have restarted operations over the weekend after being suspended by cyclone Biparjoy last week.

However, bad weather is forecast in the Indian ports of Kandla and Sikka on 21 June and 25 June, respectively, which might disrupt bunker operations.

Middle East

Securing prompt stems for all grades can be difficult in Fujairah, with lead times of 5-7 days recommended – up from around 3-5 days last week. But some suppliers can still offer all grades on prompt dates depending on stem sizes, a source says.

Availability across grades remains normal in the nearby UAE port of Khor Fakkan, with lead times of 5-7 days recommended – almost unchanged from last week.

LSMGO remains is available in the Omani ports of Duqm, Sohar, Salalah and Muscat.

By Tuhin Roy

Photo credit and source: ENGINE
Published: 21 June, 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

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