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Platts to launch eWindow instruments for Zhoushan 380 CST high sulfur bunker fuel 

Platts will launch the instruments for 380 CST high sulfur bunker fuel delivered at Zhoushan, effective 22 Sep, following its launch of daily assessment for the fuel grade on 4 Sep.

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Platts, part of S&P Global Commodity Insights, on Tuesday (12 September) said it will launch eWindow instruments for 380 CST high sulfur bunker fuel delivered at Zhoushan, effective 22 September 2023.

This comes following the launch of the Zhoushan 380 CST high sulfur bunker fuel assessment on 4 September.

Participants in the Platts Market on Close assessment process will be able to submit bids or offers for publication directly through the eWindow communication tool or do so through an editor who would then publish the bids and offers using the software.

Platts assessments for Zhoushan 380 CST high sulfur bunker fuel reflect parcel sizes between 500 mt and 1,500 mt for delivery 5-10 days forward from the date of publication. Market participants must specify a three-day date range, for delivery within the assessment laycan, at the time of submitting a bid or offer for publication.

Market participants may submit bids and offers for the following volume range: 500-600 mt, 600-700 mt, 700-800 mt, 800-900 mt, 900-1,000 mt, 1,000-1,200 mt, 1,100-1,300 mt, 1,200-1,400 mt and 1,300-1,500 mt. Buyers must declare the exact volume to the seller within one working day after the trade has been concluded. A seller should supply material that is merchantable.

All bids and offers have to be submitted by 5:00 pm Singapore time, and bids or offers can be improved by a minimum of $0.25/mt and a maximum of $1/mt per 60 seconds. Following any trade, there will be 60 seconds to rebid or reoffer. There can be no more price changes in the last 2 minutes of the MOC, which ends at 5.30.00.999 pm Singapore time.

A rebid/re-offer, following a trade in the last 60 seconds prior to the close of the MOC will trigger a 3-minute extension from 5.30.01.000 pm to 5.33.00.999 pm to adequately test that rebid or reoffer.

Bids, offers and trades for the smallest volume within the range take precedence in the assessment process, if the prices demonstrably coexist in conflict at any moment in time. For example, a bid for 500 mt of Zhoushan delivered 380 CST HSFO would take priority over an offer for 1,500 mt, in cases where the bid and offer might cross due to volume differences.

Guidelines for the publication of bids and offers in the MOC are published in the Oil Timing and Increment Guide available here.

Platts expects credit relationships that prevail inside its assessment environment to fully reflect relationships in the markets as a whole. eWindow provides direct entry and management of credit filters, which should mirror those normally applied in the marketplaces.

Where Platts editors publish bids and offers on behalf of a company that submits data to an editor, counterparty credit settings are set to "open" for regular participants in the assessment process unless companies have notified Platts in advance of any restrictions.

If a counterparty submitting information through an editor has not already notified Platts of any counterparty credit restrictions, they should notify Platts at least one hour prior to the start of the MOC if any counterparty credit filters need to be modified.

Photo credit: Manifold Times
Published: 20 September, 2023

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Bunker Fuel Availability

ENGINE: Europe & Africa Bunker Fuel Availability Outlook (29 Nov 2023)

HSFO supply improves in the ARA; prompt VLSFO availability tight in Piraeus; LSMGO is tight in Durban and Richards Bay.

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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:

  • HSFO supply improves in the ARA
  • Prompt VLSFO availability tight in Piraeus
  • LSMGO is tight in Durban and Richards Bay

Northwest Europe

VLSFO availability has tightened in the ARA hub, a trader said. Lead times of 5-7 days are recommended to ensure full coverage from all suppliers, up from 3-5 days in the previous week.

HSFO supply has shown signs of improvement in the ARA hub in recent days. Some suppliers are now able to offer the grade with lead times of less than three days. However, for smooth coverage, lead times of 5-7 days are still recommended.

The ARA’s independently held fuel oil stocks have averaged 14% higher so far this month, than in October, according to Insights Global data. The stocks have grown to three-month highs despite indications of lower imports.

According to cargo tracker Vortexa, the region has imported 225,000 b/d of fuel oil so far this month, down from 243,000 b/d imported in October.

The UK has emerged as the ARA's biggest fuel oil import source this month, accounting for 22% of the region's total imports. Fuel oil imports from Turkey accounted for 21% of the total imports, followed by Lithuania (10%). ARA has also sourced its fuel oil imports from Poland (6%) and Germany (5%).

Meanwhile, the ARA hub’s independent gasoil inventories — which include gasoil and heating oil — have declined by 4% this month.

HSFO availability remains tight for delivery off Skaw, partly because of fewer suppliers offering the grade. Lead times of 7-10 days are recommended for the grade.

LSMGO availability is very tight in the Norwegian port of Oslo. The grade is typically delivered by trucks and lead times of 5-7 days are recommended there, a trader says.

In the German port of Hamburg, lead times of 3-5 days are recommended for all three bunker grades

Mediterranean

Prompt HSFO supply is available in Gibraltar, with some suppliers having adequate product available to cater to prompt enquiries. Lead times of up to three days are recommended for HSFO, down from 4-6 days in the previous week.

Lead times of 3-5 days are recommended for VLSFO and LSMGO deliveries in Gibraltar, a trader says.

VLSFO and LSMGO availability is good in the Portuguese ports of Lisbon and Sines, according to a source.

Due to rough weather conditions off Malta, bunker supply was only available in the more sheltered bunkering area four out of the six bunkering areas on Wednesday, port agent MH Bland said. The forecast for persistent rough weather over the coming days and through the weekend suggests that bunker operations could remain disrupted, potentially extending delivery lead times further ahead.

Some suppliers are able to supply small quantities of bunkers for prompt delivery dates off Malta as and when weather permits. Meanwhile, one supplier can offer the earliest delivery by 5 December for all three grades, a trader says.

VLSFO availability is tight in the Greek port of Piraeus. The earliest delivery date with a supplier for the grade is 5 December.

Adverse weather conditions have also impacted bunkering in the Turkish port of Istanbul. Strong winds and heavy swells have prevailed in the region since the end of last week, a source said.

Turkey’s Ceyhan and Iskenderun Bay areas have also been experiencing bad weather since Saturday. This has disrupted smooth bunker deliveries there, according to the source.

Africa

LSMGO supply remains tight in the South African ports of Richards Bay and Durban. Recommended lead times for the grade are more than ten days at both ports, according to a trader.

VLSFO availability is relatively better and lead times of up to 5-7 days are recommended in both Richards Bay and Durban.

Offshore bunkering in Algoa Bay has remained suspended for nearly three months now. The deliveries came to a standstill after the South African Revenue Service (SARS) detained bunker barges over import duty disputes in September

Negotiations between offshore bunker suppliers and authorities have reached an advanced stage and a decision may be announced in December, a port agent told ENGINE. 

Meanwhile, bunker supply is available in the adjacent Port Elizabeth, where only one supplier is delivering stems, the port agent added.

Bunker demand has spiked in Mozambique's ports of Nacala and Maputo in recent months because of the ongoing bunkering crisis in Algoa Bay. One supplier has recently received a new VLSFO cargo at Nacala, which could ease supply pressure and help cater to increased demand.

“The arrival of a new VLSFO cargo at Nacala has helped ease supply pressure and reduce lead times for booking stems,” the supplier said.

Availability is good for all three bunker grades in Nacala. Meanwhile, VLSFO availability is tight in Maputo with one supplier able to supply the grade from 7 December. LSMGO availability is normal in the port.

By Manjula Nair

Photo credit and source: ENGINE
Published: 30 November, 2023

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Bunker Fuel Availability

East of Suez Bunker Fuel Availability Outlook (28 November 2023)

VLSFO and HSFO availability tight in Singapore; tight VLSFO supply in Zhoushan; bunker fuels availability normal in Tokyo.

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RESIZED ENGINE East of Suez

The following article regarding regional bunker fuel availability outlook for the East of Suez region has been provided by online marine fuels procurement platform ENGINE for publication on Singapore bunkering publication Manifold Times:

  • VLSFO and HSFO availability tight in Singapore
  • Tight VLSFO supply in Zhoushan
  • Bunker fuels availability normal in Tokyo

Singapore

VLSFO availability remains very tight in Singapore. Recommended lead times for the grade range up to 15-18 days. Some suppliers can deliver the grade with shorter lead times, but these offers are limited and often priced higher, a source says.

Product loading delays persist in oil terminals, which have held up bunker delivery vessels from loading. Terminals have been jammed by several tankers loading and discharging cargoes. Some argue that loading delays have eased a bit, however, loading remains jammed for near dates.

At least six bunker suppliers in Singapore are currently facing tight delivery schedules, a source claims.

Prompt HSFO supply also remains under pressure there. Lead times of 11-13 days are recommended for the grade. LSMGO availability is relatively better than other grades in Singapore, with lead times of 4-6 days recommended for smaller stems and around seven days for larger stems, a source says.

According to Enterprise Singapore, the port’s residual fuel oil stocks have averaged 2% lower so far this month than across October. Fuel oil imports have declined by 30% this month, while exports have dropped by 6% so far this month.

The port’s middle distillate stocks, however, have surged 15% on the month.

China, East Asia and Oceania

A trader says VLSFO availability is still tight in Zhoushan as several suppliers are running low on stocks. Most suppliers have refrained from providing lead times and deliveries of the grade remain subject to enquiries. HSFO availability, on the other hand, has improved in the port, with lead times reducing from 5-7 days last week to 3-5 days now. LSMGO remains in good supply, with prompt dates available.

In northern China, VLSFO and LSMGO supply is good in Dalian. In Tianjin, VLSFO availability is good, but LSMGO and HSFO supply is tight, with deliveries subject to enquiries. In Qingdao, prompt VLSFO and LSMGO availability is limited, and HSFO availability is also subject to enquiry.

Prompt availability of VLSFO and LSMGO is tight in the southern Chinese ports of Shanghai and Xiamen. HSFO availability is under pressure in Shanghai, as it has been in recent weeks.

Prompt bunker fuel availability has shown signs of tightness in Hong Kong, a trader says. Wind gusts of up to 20 knots are forecast on Tuesday and Wednesday, which could impact bunkering in the port.

Lead times for HSFO deliveries varied widely between 5-13 days in South Korean ports. VLSFO and LSMGO lead times have gone up from four days in the previous week to 5-6 days now.

Availability of all grades is normal in the Japanese port of Tokyo. Lead times of seven days are recommended for deliveries there.

Adverse weather conditions are forecast in the Philippine port of Subic Bay between 28-30 November, and in the Thai ports of Koh Sichang and Leam Chabang between 2-3 December.

South Asia

Prompt VLSFO and HSFO availability is tight in the Sri Lankan port of Colombo. The earliest delivery date with a supplier for HSFO is as far away as 10 December, a trader says. LSMGO availability is relatively better for prompt dates.

Middle East

All grades remain under pressure in Fujairah. The supply pressure is due to product loading delays at oil terminals, compounded by bunker backlogs caused by weather disruption over the weekend, a source explains. Strong bunker demand has also contributed to tight supply there.

Lead times of around 7-10 days are recommended for all grades in the Middle Eastern bunker hub – virtually unchanged from last week. Meanwhile, lead times of around five days are recommended for all grades at nearby Khor Fakkan port.

By Nithin Chandran

Photo credit and source: ENGINE
Published: 29 November, 2023

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Bunker Fuel

ENGINE: Americas Bunker Fuel Availability Outlook (23 Nov 2023)

Low demand in Houston; prompt availability tight in West Coast ports; weather disrupts bunkering in GOLA and Zona Comun.

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RESIZED ENGINE Americas

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:

  • Low demand in Houston
  • Prompt availability tight in West Coast ports
  • Weather disrupts bunkering in GOLA and Zona Comun

North America

Houston's demand for bunker fuel has decreased this week after a spike in demand last week. Availability of both VLSFO and LSMGO has been good, and some suppliers can deliver both grades within 3-5 days. Prompt HSFO supply is available and lead times of 4-5 days are recommended for the grade.

A moderate to high risk of fog and reduced visibility is forecast around Corpus Christi over the weekend, which could delay vessel traffic around the region and in the Houston Ship Channel, Norton Lilly says.

The US Gulf Coast fog season usually lasts until March, with more frequent channel closures between December and January due to poor visibility.

Securing VLSFO and LSMGO stems for prompt dates is possible in Beaumont. One supplier can supply VLSFO and LSMGO stems within 2-3 days. Also, both grades are available for prompt dates in Bolivar Roads. Some suppliers can deliver VLSFO and LSMGO stems there within five days of lead time.

Bunker operations have resumed in the Galveston Offshore Lightering Area (GOLA) after it had been suspended since Monday. A window of calm weather is forecast between Thursday and Friday morning, which could enable bunker operations to resume in GOLA before conditions are set to deteriorate again.

GOLA has seen bunker demand wane as a result of the weather disruptions, and this has prevented a further backlog of waiting vessels to build, a source says.

Securing prompt VLSFO and LSMGO stems is possible at the New Orleans Outer Anchorage (NOLA). Several suppliers are able to offer both fuel grades with a lead time of 3-5 days. Overall bunker demand has slowed down this week at the anchorage.

Demand has been low for all grades in the West Coast ports of Long Beach and Los Angeles, as it has been for the past two weeks. Despite low demand, all grades remain tight for prompt delivery dates in the West Coast ports.

Availability of VLSFO and LSMGO has improved in the East Coast port of New York. Both grades can be secured within 3-4 days of lead time, as demand has slowed down in the port this week.

Caribbean and Latin America

Demand for all fuel grades has been steady in Panama’s ports of Balboa and Cristobal in the past week. Availability has been very good for VLSFO and LSMGO, and most suppliers are able to offer stems within 3-4 days in Balboa. HSFO can be secured with a lead time of about seven days.

VLSFO and LSMGO delivery is possible for prompt dates off Trinidad, but these offers are generally quoted on a subject to enquiry basis, a source says.

Availability of VLSFO and LSMGO is normal for prompt dates at Argentina’s Zona Comun anchorage. Most suppliers can deliver stems within five days of lead time. However, bunker operations are likely to be disrupted at the anchorage over the weekend when strong wind gusts are forecast.

VLSFO and LSMGO supply is good for prompt dates in Brazilian ports including Salvador, Rio de Janeiro, Itaqui and Rio Grande. One supplier can deliver within 4-6 days of lead time.

By Debarati Bhattacharjee

Photo credit and source: ENGINE
Published: 24 November, 2023

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