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ENGINE: Europe & Africa Bunker Fuel Availability Outlook

HSFO tight in major European bunker hubs; VLSFO supply improves in Ceuta; VLSFO availability tight in Nacala.





The following article regarding Europe and Africa bunker fuel availability has been provided by online marine fuel procurement platform ENGINE for post on Singapore bunkering publication Manifold Times:

12 July 2023

  • HSFO tight in major European bunker hubs
  • VLSFO supply improves in Ceuta
  • VLSFO availability tight in Nacala


Northwest Europe

Securing HSFO prompt stems in Rotterdam and in the wider ARA hub remains difficult, sources say. Some suppliers are hesitant to supply HSFO stems in large quantities.

VLSFO availability is said to be normal there, with some suppliers able to supply for prompt delivery dates, a trader says. Lead times of 5-7 days are recommended for HSFO and VLSFO.

LSMGO availability is normal for prompt delivery dates in Rotterdam, with lead times of 2-3 days recommended for the grade, a source says. But another trader says that LSMGO can be slightly difficult to secure for very prompt dates (0-2 days) in Rotterdam and in the wider ARA hub.

The ARA’s independent gasoil stocks have averaged 11% lower so far this month than across June, according to Insights Global data. The gasoil inventories have declined for a fourth consecutive week and are sharply down from recent peak levels of 18.59 million bbls seen in February, to 14.66 million bbls in the latest week.

ICE gasoil premiums have also narrowed sharply in recent months. Typical front-month ICE gasoil price premiums over Rotterdam’s delivered LSMGO grade have been erased, and ICE gasoil currently stands at a $6/mt discount. Its premium topped at $58/mt in March, but has since declined.

VLSFO and LSMGO supply remains normal for delivery off Skaw, a source says. Recommended lead times for both grades remain unchanged at 7-10 days. HSFO supply is relatively tighter there.

Bunker fuel availability is normal in the German ports of Hamburg and Bremerhaven, with lead times of five days.



HSFO supply remains tight in Gibraltar Strait ports. A lead time of 5-7 days is generally recommended to ensure full coverage from suppliers in the region. VLSFO and LSMGO availability is normal across Gibraltar, Algeciras and Ceuta, with lead times of 3-5 days recommended.

VLSFO has become more available in Ceuta after two suppliers received replenishment cargoes. On Tuesday, a total of 33,000 mt of VLSFO was discharged in the port, with 25,000 mt going to one supplier and 8,000 mt to another, according to the Port of Ceuta.

Minimum congestion was reported in Gibraltar, Algeciras and Ceuta on Wednesday, port agent MH Bland says. One supplier in Gibraltar and three in Algeciras were behind schedule.

Global bunker supplier Peninsula has started biofuel supply in Gibraltar Strait. It delivered a B24 stem to a chemical tanker in Gibraltar on 19 June. The B24 marine biofuel – is a blend of 24% used cooking oil methyl ester (UCOME) and 76% VLSFO. The biofuel was delivered using its recently acquired bunker delivery vessel Hercules Sky.

HSFO is very tight in Las Palmas and in the nearby port of Tenerife, a source says. Meanwhile, VLSFO and LSMGO grades are in more ample supply in both locations.

VLSFO and LSMGO remain in steady supply in the Portuguese ports of Lisbon and Sines, a source says. Availability is also good for prompt supply off Malta, and in the Greek port of Piraeus.



VLSFO and LSMGO availability remains normal in the South African ports of Durban and Cape Town, and at the Algoa Bay anchorage by Port Elizabeth, where lead times of up to seven days are recommended, a source says.

VLSFO availability is tight in Mozambique’s Nacala port, with limited product availability until 28 July, a source says. Meanwhile, HSFO and LSMGO availability is normal in Nacala.

VLSFO and LSMGO availability is normal in Mozambique’s Maputo port.

By Nithin Chandran


Photo credit and source: ENGINE
Published: 13 July, 2023

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Singapore: PS Energy Group unveils new brand identity and moves to a new office

The group including its inland and marine bunkering units PS Energy Pte Ltd and CNC Petroleum Pte Ltd has underwent rebranding and moved to JTC Summit.





Singapore: PS Energy Group unveils new brand identity and moves to a new office

Last mile fuel distribution company PS Energy Group, including its inland and coastal and marine bunkering units, PS Energy Pte Ltd and CNC Petroleum Pte Ltd, has introduced a fresh brand identity learns Manifold Times.

The firm has unveiled its new company logos and branding that reflects its remarkable transformation as a company.

“Over the past few months, we have been working hard to create a new visual identity that truly captures the essence of who we are as a company which we hope will resonate, inspire trust, and build meaningful connections with our customers,” Sean Chua, Managing Director told Singapore-based bunkering publication Manifold Times

“Our new logo embodies the core values and aspirations that have guided us throughout our journey, while incorporating elements that represent our vision and direction for the future. With its circular shape, the new logo depicts an entity in motion and embodies PS Energy Group’s agility, focus on innovation, and accessibility.”

The firm’s updated branding encompasses a comprehensive visual identity system that is now being integrated across all its assets and communication channels, including its inland and marine fleet, website, and social media platforms. 

Singapore: PS Energy Group unveils new brand identity and moves to a new office

Besides the new brand identity, the Group has recently moved to a new and improved office space at the JTC Summit in Singapore. The firm said its team spent considerable time and effort in searching for the perfect location that aligned with its vision and values of providing the best service possible to its clients.

Singapore: PS Energy Group unveils new brand identity and moves to a new office

“The move represents a significant milestone in our company's journey and marks a new chapter of growth and opportunity. Our new office brings a host of exciting features and amenities that will undoubtedly elevate the overall experience for everyone involved,” according to Sean. 

“From spacious workstations and ergonomic furniture to cutting-edge technology and collaborative spaces, we have designed the new office with both functionality and comfort in mind. We believe that this new workspace will foster even greater creativity, productivity, and collaboration among our team members, enabling us to deliver exceptional results and exceed the expectations of our clients.”

PS Energy Group’s new address is as follows:

8 Jurong Town Hall Road
#24-01 The JTC Summit
Singapore 609434

Related: Interview: PS Energy Group gears up for 2023 with sustainable bunker fuel products and digital transformation
Related: CNC Petroleum provides alternative bunker fuel to coastal and marine market with MGO B20
Related: Singapore: PS Energy Group acquires ISCC cert for biodiesel products

Photo credit: PS Energy Group
Published: 4 October, 2023

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Malaysia: Straits Energy proposes to list oil bunkering and shipping segment on Nasdaq

In a filing with Bursa Malaysia, the firm announced its intention to spin-off its oil bunkering and shipping related services segment for listing on NASDAQ stock exchange via a public offering.





RESIZED Straits Energy office

Malaysia-listed Straits Energy Resources Berhad on Monday (2 October) announced the company’s intention to spin-off its oil bunkering and shipping related services segment for listing on NASDAQ stock exchange in the United States by way of a registered public offering.

In a filing with Bursa Malaysia, the firm said it intends to undertake a reorganisation of some of its subsidiaries involved in the oil bunkering and shipping related services segment, for the purpose of forming a separate listing group or Spin-Off Group suitable for the listing on NASDAQ.

“It is envisaged that these subsidiaries to be comprised in the Spin-off Group will continue to remain as

subsidiaries of Straits upon the completion of the Proposed Listing,” the company said. 

Straits Energy added it will make a detailed announcement in relation to the proposed listing in due course, once the board of directors has finalised and approved the terms and structure of the exercise. 

It said the listing would enable the Spin-Off Group to gain recognition and corporate stature through the listing status of its own on NASDAQ.

The company added the listing would further enhance its corporate reputation and profile which will be conducive in expanding its customer base whilst allowing the Spin-Off Group to expand and establish its global presence. 

The proposed listing would also enable the Spin-Off Group to gain access to the capital market in the United States for capital raising and to provide the Spin-Off Group with financial flexibility for future expansion and growth.

It will also unlock shareholders' value in the oil bunkering and shipping related services and provide transparent valuation benchmark for the same on NASDAQ, it added. 

Manifold Times previously reported marine fuel logistics firm CBL International Limited (CBL International), an ultimate holding company of Banle International Group Ltd (BVI), a 38%-associate company of Straits Energy Resources Bhd announced it would be listed on Nasdaq. 

Later, Manifold Times did an exclusive interview with Banle Group who shared insights on the successful listing of CBL International Limited, its listing vehicle, on the Nasdaq Capital Market

Related: Malaysia: Straits Energy associate CBL International to be listed on Nasdaq
Related: Exclusive: Banle Group sets sights on expanding bunker supply network with successful IPO on Nasdaq

Photo credit: Straits Energy Resources Berhad
Published: 4 October, 2023

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VPS announces new appointments for key positions

Andrew Morton has been appointed to the role of Managing Director AMEA while Captain Rahul Choudhuri has been appointed to the newly created role of President Strategic Partnerships.





VPS announces new appointments for key positions

Marine fuels testing company VPS on Tuesday (3 October) announced the appointment of Andrew Morton to the role of Managing Director AMEA (Asia, Middle East and Africa).

In this role, Andrew will apply his experience and knowledge to lead the delivery of VPS services to these important and growing regions. He joins VPS having spent the last 17 years working in the oil and gas industry, most recently with TotalEnergies in various positions and countries. 

These included technical, commercial, management, mergers and acquisitions and most recently the New Energies space, including renewable energy, biogas and fuels, hydrogen and LNG. He has a BSc (Hons) in Chemistry and started his career in research and development in the lubricants industry for Fuchs.

Dr. Malcolm Cooper, VPS CEO, stated “We are delighted to welcome Andrew on board as our MD AMEA. His background and experience will be helpful in supporting our customers in these important Regions, particularly in the rapidly developing decarbonisation space.”

Andrew Morton, said: “I am delighted to join VPS and the team and take over the role of Managing Director - Asia, Middle East and Africa. It is a privilege to join the global market leader and to manage a zone where the maritime industry is growing. I look forward to working with the various companies and associations across the industry to help them with their decarbonisation journey.”

VPS also announced that Captain Rahul Choudhuri has been appointed to the newly created role of President Strategic Partnerships. In this role, Rahul will use his network to enhance and further develop relationships with customers and operators from across the shipping ecosystem to help VPS support their decarbonisation journey.

Dr. Malcolm Cooper, VPS CEO, stated “Captain Rahul is well-known across the Maritime sector and he has been the figurehead for VPS Asia and the Middle East for many years. He has been instrumental in many developments within VPS and across the shipping industry, making significant contributions to developments through a wide range of Committees and organisations.”

“His new role will enable him to focus more on our external relationships, which are of growing importance as we aim to support the shipping sector on it’s decarbonisation journey. We in VPS are very proud of Rahul’s achievements to date and we know there will be more to come.”

Rahul, said: “I am looking forward to this new opportunity. This role will allow me to use my experience and close relationships to strengthen, build and develop the industry partnerships needed to deliver new decarbonisation solutions offered by VPS. My work with industry associations allows a greater professional engagement with stakeholders to take the industry forward in challenging times”.

Photo credit: VPS
Published: 4 October, 2023

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