fuel oil

Fuel Oil Stocks Tumble Amid ‘Six-Month High’ Exports

  • Singapore’s residual fuel oil inventories fell 2% in the week as export volumes jumped to a near six-month high.
  • Residual fuel stocks were up 21% from a year earlier.

Singapore’s residual fuel oil inventories fell 2% in the week to August 12 as export volumes jumped to a near six-month high, reports Reuters.

Onshore fuel oil stocks fell 417,000 barrels, or about 66,000 tonnes, to a two-week low of 23.817 million barrels, or 3.751 million tonnes, according to Enterprise Singapore data.

Residual...

https://mfame.guru/fuel-oil-stocks-tumble-amid-six-month-high-exports/

Shipowners Pay More for Bunkers Due To Fuel Oil Tightness

  • The spread of Covid-19 and production cuts changed the supply of crude oil and its composition.
  • HSFO and VLSFO discounts to other ports seem to be narrowing.
  • Crude oil demand fell sharply on the back of the Covid-19 lockdowns.
  • Low prices were a major blow to the budget and OPEC+ countries cut production.
  • The shortage of fuel oil is already visible in bunker pricing in ARA and in an increase in imports.
  • The tight fuel oil supply is affecting ARA bunker prices, particularly for HSFO.
  • ARA fuel...

https://mfame.guru/shipowners-pay-more-for-bunkers-due-to-fuel-oil-tightness/

Shipping and bunkers: coronavirus trade shock eclipses IMO 2020 upheaval

Singapore marine fuel

The shipping and bunker sectors spent years in preparation for the historic changes imposed by the International Maritime Organization’s global low sulfur mandate, IMO 2020.

But no sooner did the new rules kick in than market participants had to urgently confront a collapse in crude oil prices and obstructed tradeflows, as the world was gripped by the deadly effects of the coronavirus pandemic, and lockdowns and social distancing became the new norm.

“IMO 2020 has got lost somewhere. But that’s...

https://blogs.platts.com/2020/05/12/shipping-bunkers-coronavirus-trade-imo-2020/

Nimble Singapore bunker market swiftly adjusts to IMO 2020

Singapore bunker fuel sales

The Singapore bunker market recorded its highest monthly sales volume for the year in December 2019, and uptake of low sulfur bunker fuel finally brought some optimism back into the market as it falls in line with IMO 2020.

The International Maritime Organization’s global sulfur cap, which kicked in January 1, has been the major talking point in the oil and shipping industry for the past three years.

The release of preliminary December sales numbers for Singapore bunker fuel last week showed how...

https://blogs.platts.com/2020/01/23/singapore-bunker-market-adjusts-imo2020/

Global shipping sails into turbulent times as IMO 2020 nears

When the shipping industry counts down to the New year on December 31, markets are unlikely to be in a celebratory mood as global markets will wake up to a whole new shipping regime come January 1: IMO 2020.

The new global regulation, introduced by the International Maritime Organization, will see the bunker fuel sulfur limit reduced to 0.5% from January 1, from 3.5%.

With just days to go, opinions in the global markets on the specification of the new marine fuel, as well as the most competitive...

https://blogs.platts.com/2019/12/18/global-shipping-turbulent-imo-2020/

What is in Store for HSFO With IMO2020 Approaching?

Fuel oil volumes traded in the Platts Market on Close assessment process for 3.5% FOB Rotterdam barges declined 25% month on month in September, reports S&P Global Platts.

This comes at the juncture as the market gears up for the switch to 0.5% sulfur marine fuels at the start of January.

Drop in 3.5% RMG fuel

Some 412,000 mt of 3.5% RMG 380 CST fuel oil traded in the Platts MOC in September, below the year-to-date monthly average of about 471,000 mt, and well below August’s 546,000 mt and July’s...

http://mfame.guru/what-is-in-store-for-hsfo-with-imo2020-approaching/

Bunker Shortages Spreading Across Asian Ports

According to an article published in ArgusMedia, several ports across Asia are coping with limited availability of high-sulphur fuel oil (HSFO) for bunkers, with price spreads relative to Singapore rising to record highs.

Cargo market all time high

Fewer fuel oil arbitrage arrivals into Singapore during June and July caused the cargo market to strengthen to all-time highs, with delivered bunker premiums also sustaining record highs around $30/t since the second week of July. 

Shortages at ports 

The...

http://mfame.guru/bunker-shortages-spreading-across-asian-ports/

Fuel Oil Added To Portfolio by Trader Onyx Ahead of IMO 2020

  • Oil trader Onyx has added fuel oil to its portfolio ahead of IMO 2020 rules.
  • The fuel oil trading operation started on July 1 and carried out by a team of three.
  • New IMO rules require ships to use fuel with a maximum of 0.5% sulphur from the start of 2020.

According to an article published in Economic Times Energy World, London-based oil derivatives trader Onyx has added fuel oil to its portfolio ahead of new IMO rules.

Keeping up with the changes 

The move to add fuel oil to its portfolio ahead...

http://mfame.guru/fuel-oil-added-to-portfolio-by-trader-onyx-ahead-of-imo-2020/

Shippers, refiners at odds over IMO fuel quality

Fuel quality is the great unknown for the shipping and oil refining industry. The International Maritime Organization’s (IMO) January 2020 deadline could see the majority of vessel owners switching to cleaner marine fuels incompatible with each other. Other solutions look similarly haphazard.

The IMO’s global sulfur limit for marine fuels drops to 0.5% next January from 3.5%, and the industry is developing a wide range of very low sulfur fuel oils, which may be compliant but also vary in other...

https://blogs.platts.com/2019/04/01/shippers-refiners-imo-fuel-quality/

Freight Derivatives and Iron Ore Futures Volumes Soar

  • The macro-economic factors and the tragic events in Brazil along with uncertain US-China trade relations heightened uncertainty and created trading opportunities.
  • The total impact on the FFA market was to increase combined FFA volumes by 44% in the year to date 2019.
  • Brazil’s exports curtailed with export demand switching decisively to Australia.
  • China set to import 60% of Australian production and 70% of global seaborne trade volumes of 1.5bn tonnes in 2019.
  • Iron ore price prediction for 2019...

http://mfame.guru/freight-derivatives-and-iron-ore-futures-volumes-soar/

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