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VLSFO

Panama bunker fuel sales volume drops by 4.5% on year in October 2023

Total bunker sales at Panama was 433,448 metric tonnes (mt) in October, compared to sales of 453,654 mt during the similar period in 2022, according to PMA data.

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RESIZED Panama

Bunker fuel sales at Panama fell by about 4.5% in October 2023, according to the latest data from La Autoridad Maritima de Panama, also known as the Panama Maritime Authority (PMA).

Total bunker sales at Panama was 433,448 metric tonnes (mt) in October, compared to sales of 453,654 mt during the similar period in 2022.

In October 2023, the Pacific side of Panama posted bunker sales of 363,242 mt; 238,632 mt of VLSFO, 90,755 mt of RMG 380, 3,622 of marine gas oil (MGO), and 30,233 mt of low sulphur marine gas oil (LSMGO) were delivered.

The similar region saw total marine sales of 349,482 mt a year before on October; with VLSFO sales at 244,771 mt, RMG 380 sales at 69,837 mt, MGO sales at 3,622 mt, and 31,252 mt of LSMGO being sold.

Panama’s Atlantic side, meanwhile, recorded total bunker fuel sales of 70,206 during October 2023; the figure comprised 58,529 mt of VLSFO, 3,430 mt of RMG 380, 1,002 mt of MGO, and 7,245 mt of LSMGO.

It saw total sales of 104,172 mt in October a year before; with VLSFO sales of 76,401 mt, RMG 380 sales of 13,612, 5,995 mt of MGO, and LSMGO sales of 8,164 mt.

Photo credit: George Keel
Published: 16 November, 2023

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HSFO

Hambantota International Port expands bunkering services with new HSFO facilities

HSFO facility features a 6,000 cubic meter storage capacity, split across two dedicated tanks in the port’s oil tank farm, along with a specialised pumping system capable of transferring 400 mt per hour.

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Hambantota International Port expands bunkering with new HSFO facilities

Hambantota International Port (HIP) on Monday (10 February) said it marked a significant milestone by successfully integrating High Sulphur Fuel Oil (HSFO) into its range of bunkering services. 

It now offers a complete suite of marine fuels, including Very Low Sulphur Fuel Oil (VLSFO) and Marine Gas Oil (MGO/MDO). This development strengthens Sri Lanka’s position in the global maritime landscape, allowing HIP to cater to a broader range of vessels navigating one of the world’s busiest shipping lanes.

“We are pleased to announce the full operational launch of our HSFO bunkering facility, which marks a significant step in realising our vision of becoming a leading global maritime hub,” said Wilson Qu, CEO of Hambantota International Port Group (HIPG). 

“With our expanding range of services and growing reputation for operational excellence, HIP is positioning as a crucial player in the future of maritime trade and fuel supply. This expansion not only broadens the services we offer but also strengthens Sri Lanka’s position as a critical maritime player in the Indian Ocean region.”

The newly operational HSFO facility features a 6,000 cubic meter storage capacity, split across two dedicated tanks in the port’s oil tank farm, along with a specialised pumping system capable of transferring 400 metric tonnes (mt) per hour. A streamlined pipeline links the tanks directly to HIP’s oil jetties, ensuring fast, efficient fuel delivery. 

The facility has advanced monitoring and remote-control systems, guaranteeing precise, safe operations.  It will provide significant convenience to ship owners with vessels using scrubbers, who opt for HFSO for its cost-effective, advanced scrubbing systems while meeting IMO 2020 sulfur cap regulations.

The port which now houses Sri Lanka’s first shore-based storage tank farm with a dedicated facility for HSFO bunkering, marked the achievement with the successful discharge of 5,000 mt of HSFO and 20,000 mt of VLSFO from the vessel Grand Ace 10, from the 30 January to 1 February. 

The operation unveiled HIP's new HSFO bunkering infrastructure, setting the stage for increased fuel diversity in the region.

HIP’s strategic location along one of the busiest maritime routes in the world, provides vessels with a vital refueling stop as they traverse the shipping lanes between Europe and Asia. The addition of HSFO to HIP's fuel offering allows the port to cater to a broader spectrum of vessels, from large tankers to smaller cargo ships, that require different grades of fuel for their operations.

The port’s collaboration with Sinopec, a global leader in energy, ensures the delivery of reliable marine fuels. 

 

Photo credit: Hambantota International Port
Published: 11 February, 2025

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Alternative Fuels

ENGINE on Fuel Switch Snapshot: Liquid fuel prices drop

VLSFO availability improves in Singapore; B100 cheaper than HSFO with EU regulations; LNG becomes costliest fuel option in Rotterdam.

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ENGINE on Fuel Switch Snapshot: Liquid fuel prices drop

Once a week, bunker intelligence platform ENGINE will publish a snapshot of alternative and conventional bunker fuel prices in the world’s two biggest bunkering hubs. The following is the latest snapshot:

  • VLSFO availability improves in Singapore
  • B100 cheaper than HSFO with EU regs
  • LNG becomes costliest fuel option in Rotterdam

B100 (100% biofuel) is now $32/mt cheaper than HSFO in Rotterdam when factoring in EU ETS compliance costs and FuelEU pooling benefits for voyages between two EU ports.

EU regulations make liquid biomethane (LBM) $121/mt cheaper in Rotterdam than HSFO, but only if used in a diesel slow-speed (SS) marine engine with the lowest methane slip of 0.2%.

If the fuel is used in an Otto medium-speed engine with a 3.1% methane slip, LBM is actually $14/mt more expensive than HSFO, even with regulatory benefits.

ENGINE on Fuel Switch Snapshot: Liquid fuel prices drop

Regardless of the engine type, Rotterdam's VLSFO-equivalent liquefied natural gas (LNG) benchmark is now more expensive than all conventional fuels.

Even when accounting for the EU ETS and FuelEU penalties and considering that the fuel is used in a diesel SS engine, the theoretical price of LNG remains $66/mt higher than VLSFO and only $1/mt cheaper than LSMGO.

Liquid fuels

Rotterdam's VLSFO-equivalent B100 price has declined by $66/mt, while Singapore’s price has dropped by $10/mt over the past week.

PRIMA Markets assessed the Dutch HBE rebate for B100 in Rotterdam at $369/mt on Friday, marking a $12/mt increase from the previous week.

Rotterdam’s VLSFO price has remained relatively stable, with only a modest $4/mt decline—smaller than the $7/mt drop seen in the front-month ICE Brent futures contract.

Singapore has seen a larger $16/mt drop, partly due to improved VLSFO availability. Recommended lead times for the grade have shortened from 7–11 days last week, to 4–8 days now.

Liquid gases

Rotterdam’s LNG price has climbed for a third week in a row, this time by $26/mt over the past week. This increase is linked to a 3% rise in the front-month Dutch TTF Natural Gas contract, a key European gas benchmark.

The Dutch TTF benchmark has risen due to increased demand due to colder weather and increased draws from underground gas reserves in Europe.

Singapore’s VLSFO-equivalent LNG price has also climbed by $12/mt in the past week. “The rise can be attributed to updated forecasts of colder weather in Japan and higher gas prices in Europe,” Rystad Energy said.

By Konica Bhatt

 

Photo credit and source: ENGINE
Published: 11 February, 2025

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Bunker Fuel Quality

FOBAS: Off-spec Total Sediment Potential bunker fuels in ARA region

FOBAS has tested several VLSFO samples from ARA (Antwerp, Rotterdam and Amsterdam) with Total Sediment Potential (TSP) results exceeding the ISO 8217 specification limit of 0.10% m/m.

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Louis Reed from Unsplash

Lloyd’s Register Fuel Oil Bunkering Analysis and Advisory Service (FOBAS) on Friday (7 February) released a bulletin regarding FOBAS testing several samples from ARA (Antwerp, Rotterdam and Amsterdam) with Total Sediment Potential (TSP) results exceeding the ISO 8217 specification limit of 0.10% m/m:

In recent days, FOBAS has tested several samples from ARA (Antwerp, Rotterdam and Amsterdam) with Total Sediment Potential (TSP) results exceeding the ISO 8217 specification limit of 0.10% m/m. The samples were all 0.50% sulphur (VSLFO) fuels and TSP results ranged from 0.16% m/m to 0.38% m/m.

In recent days, FOBAS has tested several samples from ARA (Antwerp, Rotterdam and Amsterdam) with Total Sediment Potential (TSP) results exceeding the ISO 8217 specification limit of 0.10% m/m. 

The samples were all 0.50% sulphur (VSLFO) fuels and TSP results ranged from 0.16% m/m to 0.38% m/m.

Fuels with high sediments can result in excessive sludge deposition in tanks and throughout the fuel handling, treatment, and injection systems. 

Furthermore, in certain cases the attempted use of such fuels may result in highly compromised combustion leading to engine and turbocharger damage.

In view of the above, if your ships are planning to bunker in these ports, we recommend that suppliers are advised of your concerns regarding the stability of the fuel in the area, and that they provide you with additional reassurance that they will adhere to the ISO 8217 requirements for the grade ordered.

Additional attention should be given to the collection of bunker samples. It should be ensured that all parties have witnessed the sampling process and have signed witness forms accordingly, and that the supporting documentation includes records of all the samples considered representative of the fuel as Loaded.

 

Photo credit: Louis Reed from Unsplash
Published: 10 February, 2025

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