Fujairah

Western Low Sulfur Arbitrage Volumes Could Near 3mil mt In April

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/

Premium for Marine Fuel 0.5%S Bunker Delivered 49-Week High

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/

Minerva Bunkering Rolls Out Advanced Delivery Platform At 3 Hubs

  • Long-term contract with Hafnia commences with ADP service now available for all customers.
  • Emerson published white paper details the data integrity and innovative solution set of the ADP.
  • Continued rollout of ADP service to additional ports across the Minerva network.

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 hubs

Minerva’s new ‘Advanced Delivery Platform‘...

https://mfame.guru/minerva-bunkering-rolls-out-advanced-delivery-platform-at-3-hubs/

VLSFO Demand Outshines Other Refinery Products in Asian Market

  • Refiners cut output on weak jet fuel demand; tighten VLSFO supply
  • Ship fuel demand at most ports above pre-COVID levels – trader
  • Refiners reap most profit from VLSFO vs other refined products

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 Priority

The...

https://mfame.guru/vlsfo-demand-outshines-other-refinery-products-in-asian-market/

GP Global’s Restructuring Leaves Bunker Market Tight

GP Global sells its Fujairah terminal leaving the bunker market tight, reports Ship & Bunker.

GP Global’s restructuring 

Troubled 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 fuel 

According 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/

Oil Stocks Witness 9-Month Lows Wiping Off 2020 Gains

  • Fujairah stockpiles on the UAE’s East Coast tumbled to a nine-month low wiping out gains for the year.
  • Stockpiles have dropped for a record seven weeks in a row and have declined a whopping 36% since the record high of 30.71 million barrels.
  • Exports of heavy distillates from Fujairah in the week started October 5 soared to 3.39 million barrels.
  • Middle distillates stocks, including jet fuel and gasoil, jumped 15% in the week ended October 12 to 4.435 million barrels, a three-week high.
  • Light...

https://mfame.guru/oil-stocks-witness-9-month-lows-wiping-off-2020-gains/

Marine Fuel Switch on the Rise Ahead of IMO 2020

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 demand 

Singapore

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/

MEE Commences Sale of IMO-Compliant Fuel At Fujairah

According to an article published in Argus Media, Fujairah-based bunkering firm Mediterranean Eastern Enterprise (MEE) has started supplying International Maritime Organisation (IMO) compliant marine fuels.

MEE sells its maiden cargo

MEE sold the first cargo of 0.5pc sulphur bunker fuel today. The volume and date of delivery were unconfirmed. MME’s product has a viscosity of around 120cst and sulphur content of just below 0.5pc.

A number of Fujairah suppliers have been offering 0.5pc sulphur...

http://mfame.guru/mee-commences-sale-of-imo-compliant-fuel-at-fujairah/

Fujairah Heavy Distillate Falls Amid Tight Supply

  • Stocks of heavy distillates and residues at Fujairah fell 11% to 10.34 million barrels due to tight supply.
  • The outflow for Persian Gulf high sulfur fuel oil cargoes to Singapore is steady owing to a strongly backwardated Singapore market.
  • The Singapore 380 CST HSFO cash differential hit a record high of $61.92/mt on September 17.

According to an article published in Platts, stocks of heavy distillates and residues at Fujairah fell 11% on the week.

Oil prices continue to fall

Market sources say...

http://mfame.guru/fujairah-heavy-distillate-falls-amid-tight-supply/

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.