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Freight Investor Services witnesses rapid rise in VLSFO bunker fuel sales in February

Miguel E. Andujar, Oil Derivatives Broker at Freight Investor Services, shared an article on the outlook of VLSFO bunker fuel for 2024, focusing on Rotterdam, Singapore and Houston.

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Miguel E. Andujar, Oil Derivatives Broker at Freight Investor Services, on Tuesday (20 February) shared an article on the outlook of VLSFO bunker fuel for 2024, focusing on Rotterdam, Singapore and Houston: 

As we enter Q1 2024, the maritime fuel industry is witnessing a surge in Very Low Sulphur Fuel Oil (VLSFO) sales, signalling positive trends across major ports. In Rotterdam, VLSFO prices have rebounded by $10.50/mt in February, representing a significant 82% market share of bunker sales from January. This comes as a welcome recovery following a disappointing Q4 2023, marked by an 11% decline in sales.

Rotterdam’s resurgence sets a positive tone for the global bunker market, hinting at a turnaround from previous setbacks.

Singapore, a key player in the global maritime industry, replicates this momentum with a $6.00/mt increase in VLSFO prices in February. Bunker fuel sales in the strategic port surged by 12.1% year on year, reaching 4,906 million metric tons in January. This accounted for a substantial 59.2% of VLSFO sales, according to the Maritime and Port Authority of Singapore.

Houston, a vital port with significant import activity from Asia and North Europe, sees VLSFO up by $11.50/mt in February and $136/mt since the start of 2024, accounting for 62% of total bunker sales for this year.

With Crude Oil trading within a range, with a strong resistance at the $82-83 zone level, markets indicate a growing preference for LSFO and influencing bunker prices globally.

Additionally, the Red Sea conflict contributes to the shifting landscape, with longer voyages around the Cape of Good Hope raising end-user bunker consumption. As the year unfolds, these trends will continue to shape the trajectory of the global bunker market. 

 

Photo credit: Venti Views on Unsplash
Published: 21 February, 2024

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Bunker Fuel

Baltic Exchange: Bunker Report (19 June 2025)

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

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Baltic Exchange: Bunker Report (19 June 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

Fujairah – Offshore Anchorage Area
Gibraltar – Anchorage area
Houston – Houston Harbor
Panama – (Pacific) dangerous cargo area, Balboa
Rotterdam – Waalhaven – Maasvlakte range
Singapore – Anchorage, under SBA Scheme
Zhoushan – Southern 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: 20 June 2025

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Bunker Fuel Availability

ENGINE: Americas Bunker Fuel Availability Outlook (19 June 2025)

Funding secured for Houston channel expansion; bunker demand picks up in Panama; first crude tanker loads at new Bahia Blanca berth.

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The following article regarding bunker fuel availability in the Americas region has been provided by online marine fuel procurement platform ENGINE for post on Singapore bunkering publication Manifold Times:

  • Funding secured for Houston channel expansion
  • Bunker demand picks up in Panama
  • First crude tanker loads at new Bahia Blanca berth

North America

Bunker demand in Houston has held steady this week, with limited movement recorded in the spot market, a source said.

HSFO and VLSFO are readily available at the port, with suppliers advising lead times of 5–7 days. LSMGO is available with slightly shorter lead times of 3–5 days.

The Houston Ship Channel expansion project secured full federal funding on Wednesday, with $161 million allocated in the US President’s 2026 budget.

The project takes aim at widening and deepening key sections of the channel, to ease congestion and allow more and larger vessels to transit safely.

Offshore bunker deliveries are being hit by worsening weather, particularly in Bolivar Roads and the Galveston Offshore Lightering Area (GOLA), where waves of up to 5 feet are forecast between 19–21 June.

Deliveries are underway but may be delayed, with bunker vessels assessing conditions on a case-by-case basis.

New Orleans is operating normally, with no weather or operational disruptions reported this week.

Bunker supply remains steady in New York, with lead times of 3–5 days for VLSFO and LSMGO, and 5–7 days for HSFO. Bunker demand has eased slightly compared to earlier this year, possibly indicating a slowdown heading into the third quarter, a source informed.

Strong wind gusts are forecast in New York between 19–22 June and may cause brief disruptions, though no backlog or congestion has been reported.

A new container terminal is planned at Hunts Point in the Bronx, replacing the decommissioned Vernon C. Bain jail barge. The terminal is expected to open by 2030–31.

On the West Coast, bunker demand has picked up modestly in Los Angeles, with suppliers recommending lead times of at least seven days to avoid spot premiums.

Container volumes in the Port of Los Angeles rose to 122,000 TEUs this week, up by 29% from last week and 41% up on the year.

For the upcoming week, port authorities project container volumes to increase to 125,000 TEUs, which would be a 3% weekly gain. The number of scheduled vessels is expected to rise from 21 to 23.

In Montreal, high wind gusts between 18–22 June could delay bunker operations. Barge operations are limited to daylight hours, which can contribute to anchorage delays.

Latin America and the Caribbean

Panama bunker demand has improved this week. Bunker fuel sales for May reached 453,000 mt, up 14% year-on-year, though down 1% from April, according to the Panama Maritime Authority.

All fuel grades in Balboa and Cristobal are available within lead times of 5–7 days.

Balboa is forecast to see strong winds and thunderstorms from 18–21 June, which could affect deliveries. Operations are being carried out on a first-come, first-served basis, with transit-confirmed vessels prioritised.

No weather disruptions have been reported in the Bahamas’ Freeport, though heavy cruise traffic could impact bunker vessel turnaround times.

The National Hurricane Center has issued an advisory on the tropical storm Erick, located in the eastern Pacific near southern Mexico.

An area of low pressure is forecast to form early next week off the coast of Central America, with a 20% chance of development over the next seven days.

The system may move west-northwestward off the coasts of Guatemala, Costa Rica, and southern Mexico, potentially impacting bunkering operations in the region.

In St. Eustatius, deliveries continue at anchorage with no disruptions reported. Cruise ships are given priority.

Offshore Trinidad is likely to face delays from Thursday until Monday next week due to high wind gusts and rough seas.

“Deliveries are carried out while vessels are underway, but timing will depend on location-specific conditions assessed by supply vessels,” a source said.

The P.Monterey is set to be the first crude tanker to load at the new oil berth in Argentina’s Bahia Blanca, around 20 June. It will load 110,000 mt of crude for Shell and Pluspetrol, bound for the US. This new export flow may boost bunker demand in the Bahia Blanca/Puerto Rosales area as more large tankers call in, Antares Ship Agents informed.

In Zona Comun, VLSFO availability is decent with recommended lead times of 5-6 days.

Strong wind gusts exceeding 20 knots are forecast from 22–24 June, likely delaying bunker deliveries. Operations remain on a first-come, first-served basis and will be weather-dependent, another source noted.

Brazilian ports Santos, Rio de Janeiro, and Rio Grande report good fuel availability, with VLSFO and LSMGO offered for prompt delivery and 5–7-day lead times.

Operations in Santos remain affected by some congestion, though conditions are expected to ease in the upcoming days. There are currently 42 vessels in port and 61 vessels recently departed.

Barranquilla, Cartagena, and Santa Marta are seeing stable supply and short lead times of 2–3 days.

By Gautamee Hazarika

 

Photo credit and source: ENGINE
Published: 20 June 2025

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Bunker Fuel Availability

ENGINE: Europe & Africa Bunker Fuel Availability Outlook (18 June 2025)

Good prompt availability off Malta; HSFO very tight in Port Louis; VLSFO tight in Nacala and Maputo.

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RESIZED ENGINE Europe and Africa

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:

  • Good prompt availability off Malta
  • HSFO very tight in Port Louis
  • VLSFO tight in Nacala and Maputo

Northwest Europe

Prompt delivery remains tight in the ARA hub for all grades, a trader told ENGINE. Recommended lead times for VLSFO and LSMGO have narrowed to 7-8 days, while HSFO’s remain consistent with last week, at 8-9 days.

The ARA’s independently held fuel oil stocks have averaged 6.74 million bbls in June so far, a 6% drop from May, according to Insights Global data.

The region has imported 87,000 b/d of fuel oil in June so far, less than half of the 176,000 b/d imported across May, according to data from cargo tracker Vortexa. Poland remains the region’s topmost import source, making up about 30% of the total share. Other import sources include Germany (26%), the UK (22%) and Finland (11%).

The ARA’s independent gasoil inventories – which include diesel and heating oil – have averaged 5% lower this month. Some 122,000 b/d of diesel and gasoil has been imported, less than half of May’s 315,000 b/d, Vortexa data shows.

Around 10 days of lead time is recommended for bunker stems in in Gothenburg and off Skaw, according to a trader.

Hamburg has good availability of all grades with lead times of 3-5 days advised, another trader told ENGINE.

Mediterranean

HSFO and VLSFO are readily available in Gibraltar Strait ports, said a trader, while LSMGO is on the tighter side. Lead times of 8-9 days are advised for HSFO and LSMGO, and 10-12 days for VLSFO.

Five vessels awaited bunkers in Gibraltar on Wednesday, according to port agent MH Bland. This is not unusual, and bunker capacity is limited by barge availability and a lack of space in the port. One supplier is running 6-12 hours behind schedule, the port agent added.

In Las Palmas, bunker availability remains good and lead times of 5-7 days are recommended, a trader said. Weather conditions for the port are forecast to be suitable for bunkering in the coming week, according to a trader.

In Barcelona, HSFO, VLSFO and LSMGO remain readily available with recommended lead times at 5-7 days, according to a trader.

Bad weather is expected to affect operations off Malta on 22 June, but all grades are readily available.

Prompt supply is tight for all grades at the Greek port of Piraeus, according to a trader. The port could face weather-related disruptions over the weekend, according to a trader.

In Istanbul, prompt supplies of HSFO, ULSFO and LSMGO are readily available, according to a trader. VLSFO remains tight. Periods of rough weather could disrupt some operations between 20-26 June, according to a trader.

Africa

VLSFO is tight in the Mozambican ports of Nacala and Maputo, according to a supplier. Nacala has readily available LSMGO, while that grade is very tight in Maputo. HSFO is in good supply in Nacala.

In Port Louis, HSFO availability is very tight, said a trader. VLSFO and LSMGO remain readily available, with lead times of 7-10 days recommended.

Durban continues to have good bunker supply, with 2-4 days of lead time advised, a trader said. LSMGO supply remains dry.

VLSFO and LSGMO are both readily available in Luanda, according to a trader.

Prompt bunker availability is consistently good off Walvis Bay, with lead times of 3-6 days.

In Togo’s Lome, availability of all grades is good, with lead times of 5-7 days recommended, as according to a trader.

Biofuels are not yet on offer for bunkering in African ports. A supplier on the continent said enquiries have been few and far between, and not presented any viable business case for launching biofuel supply.

By Samantha Shaji

Photo credit and source: ENGINE
Published: 19 June, 2025

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