Connect with us

VLSFO

ENGINE: Petrobras’ new bunker price mechanism adds to Brazil market shake-up

With a new pricing mechanism now in place since 1 November, Petrobras bunker prices can change anytime throughout the day and final prices will depend on enquiries, a source says.

Admin

Published

on

Seguro, Brazil by Gabriel Martins

Since Brazilian petroleum firm and bunker supplier Petrobras shifted from posted bunker prices to indicative prices, Santos’ VLSFO discounts to Brazilian and foreign ports have narrowed.

Petrobras started issuing indicative bunker prices for Brazilian ports on 1 November, shifting from its usual pricing mechanism of posted prices. These posted prices were mostly fixed in nature, and did not tend to change despite movements in underlying crude values.  

With a new pricing mechanism now in place, Petrobras bunker prices can change anytime throughout the day and final prices will depend on enquiries, a source says. The new pricing has been reflected in Brazilian bunker price dynamics.

Santos’ VLSFO price discount to Zona Comun’s VLSFO has come down from peak levels of $50/mt in September to around $35/mt in October and November and has further slid to just $4/mt.

VLSFO prices have also changed rapidly between Brazilian ports in recent weeks. Rio Grande’s VLSFO premium over Santos momentarily shrunk from nearly $40/mt in November to just $8/mt earlier this week, but then widened back to $42/mt.

Some argue that Petrobras decided to change the pricing mechanism because of the rise in competition in the Brazilian market. In recent months, several suppliers such as Ipiranga and Bunker One have expanded their Brazilian bunker operations, offering new grades and entering new ports in Brazil. Raizen also started VLSFO supply in the port of Itaqui and São Luiz in July this year.

Another source says that competition is mostly between Brazilian ports - as opposed to with foreign ports. Ships calling in Brazil will be able to pick and choose bunker-only ports with the best offers. Meanwhile, those vessels calling in Argentina will ideally pick bunkers from Zona Comun rather than Brazilian ports, the source adds.

By Nithin Chandran

Source: ENGINE
Photo credit: Gabriel Martins on Unsplash
Published: 11 December, 2023

Continue Reading

Biofuel

Singapore: Petrobras completes inaugural sale of B24 biofuel blend in Asia

Brazilian state-controlled oil and gas producer Petrobras made its first sale of VLSFO with 24% renewable content (B24) in the Asian bunker market to Singapore bunker supplier Golden Island.

Admin

Published

on

By

Petrobras

Brazilian state-controlled oil and gas producer Petrobras recently made its first sale of VLSFO (Very Low Sulfur Fuel Oil) with 24% renewable content (B24) in the Asian bunker market. 

The bunker fuel was sold to Singapore bunker supplier Golden Island. Petrobras said the fuel will be delivered in February. 

The product, sold by Petrobras Singapore, was formulated using a blend of 76% mineral fuel oil, predominantly sourced from Petrobras refineries, and 24% UCOME, a biofuel derived from the processing of used cooking oil (UCO) purchased locally. 

Petrobras Singapore holds the ISCC EU certification, which guarantees that its product meets the strict sustainability criteria that accompany the biofuel logistics chain involved in the process.

For the formulation, Petrobras used the facilities of the Jurong Port Universal Terminal, where it has a lease agreement for fuel oil and B24 tanks. The bunker supply operation with renewable content follows the same operational protocol adopted for 100% mineral bunker, mostly through the use of smaller vessels, where the product is loaded at the terminal and delivered to the consumer ship.

“The commercialisation of VLSFO with 24% renewable content in the Asian market is aligned with Petrobras' strategy of developing new products towards a low-carbon market, innovating to generate value for the business, and enabling solutions in new energies and decarbonization”, said Petrobras' director of Logistics, Commercialisation and Markets, Claudio Schlosser.

 

Photo credit: Petrobras
Published: 17 February, 2025

Continue Reading

Bunker Fuel

Singapore: Bunker fuel sales down by 9.1% on year in January 2025

4.46 million mt of various marine fuel grades were delivered at the world’s largest bunkering port in January, a drop from 4.91 million mt recorded during the similar month in 2024, according to MPA data.

Admin

Published

on

By

Singapore: Bunker fuel sales down by 9.1% on year in January 2025

Sales of marine fuel at Singapore port decreased by 9.1% on year in January 2025, according to Maritime and Port Authority of Singapore (MPA) data.

In total, 4.46 million metric tonnes (mt) (exact 4,461,710 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in January, a drop from 4.91 million mt (4,906,100 mt) recorded during the similar month in 2024.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in January (against on year) recorded respectively 1.66 million mt (zero from 1.66 million mt), 2.43 million mt (-15% from 2.86 million mt), 900 (+100% from zero), 3,100 mt (-77% from 13,500 mt) and zero (from zero).

Singapore: Bunker fuel sales down by 9.1% on year in January 2025

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in January (against on year) recorded respectively 16,000 (+100% from zero), 92,000 mt (+103% from 45,300 mt), zero (from zero), zero (from zero) and zero (from zero).

LNG and methanol sales were posted respectively at 6,600 mt (-36.5% from 10,400) and zero (from zero).

A complete series of articles on Singapore bunker volumes by Manifold Times in 2024 can be found below:

Related: Singapore: Bunker fuel sales down by 5.2% on year in December 2024
Related: Singapore: Bunker fuel sales gain by 4.6% on year in November 2024
Related: Singapore: Bunker fuel sales gain by 10.8% on year in October 2024
Related: Singapore: Bunker fuel sales continue to increase by 2.8% on year in September 2024
Related: Singapore: Bunker fuel sales increase by 7.2% on year in August 2024
Related: Singapore: Bunker fuel sales up by 3.3% on year in July 2024
Related: Singapore: Bunker fuel sales gain 8.7% in June 2024
Related: Singapore: Bunker fuel sales increase by 6.7% in May 2024
Related: Singapore: Bunker fuel sales down by 0.6% on year in April 2024
Related: Singapore: Bunker fuel sales increase by 6.4% on year in March 2024
Related: Singapore: Bunker fuel sales up by 18.8% on year in February 2024
Related: Singapore: Bunker fuel sales up by 12.1% on year in January 2024

 

Photo credit: Maritime and Port Authority of Singapore
Published: 14 February, 2025

Continue Reading

Bunker Fuel Availability

Baltic Exchange: Bunker Report (13 February 2025)

Bunker report panellists include Island Oil Limited, Cockett Marine Oil Pte, Monjasa A/S and KPI OceanConnect.

Admin

Published

on

By

Baltic Exchange: Bunker Report (13 February 2025)

The following bunker report has been provided by freight market information provider Baltic Exchange for post on Singapore bunkering publication Manifold Times:

Note:

All values are in US$/metric ton, all-in (invoice price), delivered on board
Delivery in 7-10 days
ISO 8217:2010
IFO 380 3.5% Sulphur
IFO 380 0.5% Sulphur
DMA 0.1% Sulphur

Rotterdam – Waalhaven – Maasvlakte range
Houston – Houston Harbor
Singapore – Anchorage, under SBA Scheme
Fujairah – Offshore Anchorage Area

Submitted weekly at Close of Business UK time Daily

Panellists:
Cockett Marine Oil Pte, Island Oil Limited, KPI OceanConnect, Monjasa A/S, NSI Marine and Transparensea Fuels

 

Photo credit and source: Baltic Exchange
Published: 14 February, 2025

Continue Reading
Advertisement
  • Sea Trader & Sea Splendor
  • Zhoushan Bunker
  • RE 05 Lighthouse GIF
  • Consort advertisement v2
  • EMF banner 400x330 slogan
  • SBF2
  • v4Helmsman Gif Banner 01
  • Aderco Manifold Website Advert EN

OUR INDUSTRY PARTNERS

  • E MARINE LOGO
  • SEAOIL 3+5 GIF
  • HL 2022 adv v1
  • Singfar advertisement final
  • Triton Bunkering advertisement v2


  • Mokara Final
  • metcore
  • intrasea
  • PSP Marine logo
  • pro liquid
  • Synergy Asia Bunkering logo MT
  • Uni Fuels oct 2024 ad
  • Auramarine 01
  • Central Star logo
  • Victory Logo
  • 400x330 v2 copy
  • LabTechnic
  • VPS 2021 advertisement
  • Headway Manifold
  • Advert Shipping Manifold resized1

Trending