Bunker fuel sales at the UAE’s Port of Fujairah in March fell 0.6% on the month as crude oil got more expensive and supplies were crimped by a surprise temporary refinery outage, says an article published in S&P Global Platts.
Sales Drop outTotal sales fell to 634,045 cu m from 637,585 cu m in February, according to April 20 data from the Fujairah Oil Industry...
A recent Platts news written by Dania Saadi and Claudia Carpenter report says that Fujairah is expecting oil storage to triple by 2024 as ADNOC, other tenants expand facilities.
The Port of FujairahThe Port of Fujairah, the world’s No. 3 bunkering hub, expects its oil storage capacity to triple to...
https://mfame.guru/increasing-trade-in-fujairah-oil-storage-to-triple-by-2024/
April arrival volume was more or less steady, or a touch higher, than around 2.8 million mt or so of product that is expected to land in Singapore for March, traders added, reports S&P Global.
Low sulfur marine fuel“There’s a little bit of slippage from March arrival into April, not more than 200,000 mt; other than that, the rest of the volumes are entirely slated for April-arrival,” said a trader based here.
Expected Western arbitrage volumes for April, like for March, in itself, would more or...
https://mfame.guru/western-low-sulfur-arbitrage-volumes-could-near-3mil-mt-in-april/
An unexpected outage in the week started March 7 at German energy trader Uniper’s Fujairah-based crude processing unit has crimped product availability, sending the premium for marine fuel 0.5%S bunker delivered at the port to a 49-week high on March 12, reports S&P Global Platts.
What Happened?“[The unit] has been stopped since last few days. [Uniper] is currently depleting its available stocks,” said a Dubai-based source close to the company and familiar with the matter.
The premium for...
https://mfame.guru/premium-for-marine-fuel-0-5s-bunker-delivered-49-week-high/
Marine fuel supplier Minerva Bunkering has launched its new digital supply platform, with tanker company Hafnia using it to take on a term contract, reads the company website.
3 Major hubsMinerva’s new ‘Advanced Delivery Platform‘...
https://mfame.guru/minerva-bunkering-rolls-out-advanced-delivery-platform-at-3-hubs/
Uniper Energy DMCC (UED), a supplier of very low sulphur fuel oil (VLSFO), and […] The post Uniper Energy DMCC, Neutral Fuels to offer maritime biofuel in Fujairah appeared first on Offshore…
According to a Reuters report, asian refiners’ profit from producing very low sulphur fuel oil (VLSFO) climbed to six-month highs this week as output cuts keep supplies tight while demand for the shipping fuel at most ports are back at pre-pandemic levels, traders and analysts said.
VLSFO on PriorityThe...
https://mfame.guru/vlsfo-demand-outshines-other-refinery-products-in-asian-market/
GP Global sells its Fujairah terminal leaving the bunker market tight, reports Ship & Bunker.
GP Global’s restructuringTroubled Middle East bunker supplier GP Global’s exit from the regional bunker market has left UAE’s Fujairah bunkering hub tight.
GP Global as a part of its restructuring plans, sold its Fujairah terminal.
Stuck bunker fuelAccording to S&P Global Platts, a sizeable volume of bunker fuel is stuck in the terminal’s tanks as talks progress.
According to a bunker supplier, “I’m not...
https://mfame.guru/gp-globals-restructuring-leaves-bunker-market-tight/
https://mfame.guru/oil-stocks-witness-9-month-lows-wiping-off-2020-gains/
According to an Argus Media report, demand for 0.5pc sulphur marine fuel oil is building up in most of the world’s largest ports, and the grade could account for 65pc of all marine fuel oil bought globally this month.
Grades in demandSingapore
In Singapore, the world’s largest bunkering hub, more than 43pc of delivered marine fuel deals so far in November have been for 0.5pc fuel oil, and 0.1pc sulphur marine gasoil (MGO) accounted for 21pc.
Demand for these two grades have been rising because...
http://mfame.guru/marine-fuel-switch-on-the-rise-ahead-of-imo-2020/