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ENGINE: Europe & Africa Bunker Fuel Availability Outlook

HSFO supply tight across major bunker ports; VLSFO and LSMGO steady in most Mediterranean ports; VLSFO and HSFO availability tight in Nacala.

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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:

19 July 2023

  • HSFO supply tight across major bunker ports
  • VLSFO and LSMGO steady in most Mediterranean ports
  • VLSFO and HSFO availability tight in Nacala

 

Northwest Europe

Prompt supply of HSFO has been tight in Rotterdam and in the wider ARA hub. Securing large stem sizes of the grade can be even more challenging in the bunkering hub. Most suppliers in Rotterdam are hesitant to offer stem sizes of more than 3,000 mt of HSFO due to limited product availability.

Tight availability of HSFO in Rotterdam has contributed to narrow the port’s Hi5 spread to just $60/mt now, almost half of what it was in April. Recommended lead times for HSFO and VLSFO deliveries remain unchanged from last week at 5-7 days, a source says. Bunker buyers looking to lift HSFO stems in the ARA should ideally consider a longer lead time, another source says.

Meanwhile, LSMGO is readily available in Rotterdam and in the wider ARA hub, with lead times of 2-3 days recommended for the grade. 

HSFO supply has been tight in the region despite an increase in its fuel oil stocks. The ARA's independent fuel oil stocks have averaged 6% higher so far this month than across June. The inventories have grown to their bulkiest monthly level since June 2021, according to Insights Global data.

On the other hand, the region’s independent gasoil inventories - which include diesel and heating oil – have declined by 11% so far this month and to their lowest monthly level since last December.

VLSFO and LSMGO supply remains normal for delivery off Skaw, a source says. HSFO supply is relatively tighter there. Recommended lead times for all grades remain unchanged at 7-10 days. Barge availability is said to be normal off Skaw, the source adds.

LSMGO availability is normal in the Norwegian ports of Bergen and Mongstad, a trader says.

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

 

Mediterranean

HSFO availability remains tight in Gibraltar Strait ports. Lead times of up to seven days are recommended to ensure full coverage from suppliers in the region. VLSFO and LSMGO availability is relatively better across Gibraltar, Algeciras and Ceuta, with lead times of 3-5 days recommended.

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

VLSFO and LSMGO availability is also normal in Las Palmas, with recommended lead times of 2-4 days, a source says. Meanwhile, HSFO availability has been tight in Las Palmas amid limited product availability. One supplier expects to receive replenishment cargo on 21 July, which could ease some supply pressure there, a source says. 

VLSFO and LSMGO availability is said to be normal in the Portuguese ports of Lisbon and Sines. Bunker fuel availability also remains steady for prompt supply off Malta and in the Greek port of Piraeus.

 

Africa

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

Bunkering was fully suspended in Algoa Bay on Wednesday due to rough weather conditions, according to Rennies Ships Agency. Deliveries could resume from Thursday afternoon, when improved weather conditions are forecast.

VLSFO supply is tight in Mozambique's Nacala port, with limited product availability until 28 July, a source says. HSFO availability is even tighter there, with delivery dates stretching to mid-August. Meanwhile, LSMGO is readily available in the port.

In Maputo, VLSFO and LSMGO availability is normal for prompt dates.

By Nithin Chandran

 

Photo credit and source: ENGINE
Published: 20 July, 2023

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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.

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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.

singapore best seaport 2

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

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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.

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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

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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.

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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

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