Fujairah

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/

2020 Decree Creates Singapore-Fujairah LSFO Arbitrage

According to several market participants, the fuel oil market has started to see International Maritime Organization-compliant marine fuel being shipped from Singapore to Fujairah, reports Platts.

LSFO voyages

The fuel oil market has started to see compliant marine fuel being shipped from Singapore to Fujairah, confirming expectations of imminent changes to global trade flows for residual fuels going into 2020. Platts reports shows:

  • Spain’s Repsol has fixed a Sovcomflot tanker for a voyage from...

http://mfame.guru/2020-decree-creates-singapore-fujairah-lsfo-arbitrage/

Fujairah Bunker Demand Strengthens As Singapore Proceeds Towards New Record

  • Fujairah-delivered 380 CST bunker premiums over the Mean of Platts Arab Gulf 180 CST HSFO assessments averaged $21/mt so far in August.
  • Singapore-delivered 380 CST bunker premiums over the Mean of Platts Singapore 380 CST HSFO assessments struck a fresh historical high of $59.52/mt.
  • Supply dynamics remain volatile as marine fuel markets transit into a low-sulfur bunkering landscape ahead of IMO 2020.

According to an article published by Platts, bunker fuel demand has strengthened at the Middle...

http://mfame.guru/fujairah-bunker-demand-strengthens-as-singapore-proceeds-towards-new-record/

Doba Secures More Buyers Including Maersk As IMO 2020 Approaches

In a major development, Chad’s heavy sweet Doba crude has attracted new buyers looking to produce 0.5pc sulphur marine fuels ahead of new regulations, reports the Argus Media.

The New Buyers
  1. Vitol, an old buyer: Traders said trading firm Vitol purchased three out of four 950,000 bl Doba cargoes for loading in August — the fourth went to Chinese state-owned refiner ChemChina. Vitol is not a regular buyer of Doba, and is likely to take the cargoes to its 82,000 b/d refinery in Fujairah, UAE, which...

http://mfame.guru/doba-secures-more-buyers-including-maersk-as-imo-2020-approaches/

Trade Sources Say War Risk Premiums Driving Singapore and Asia Fuel Market

According to a Reuters report, shippers are trying to minimize time in the Middle East after oil tanker attacks pushed up insurance costs are scaling back purchases of marine fuels from the United Arab Emirates’ (UAE) Fujairah oil hub, trade sources said.

Turning to Singapore?

Instead, they are turning primarily to Singapore, the world’s top refueling hub, to buy marine fuels, also known as bunkers, with some diverting to smaller bunkering ports, including in India and Sri Lanka, the sources said.

http://mfame.guru/trade-sources-say-war-risk-premiums-driving-singapore-and-asia-fuel-market/

IMO Compliant Fuels Receive Berths from Fujairah Bunkering Hub

  • Ships carrying IMO compliant marine fuels will be allocated four berths by  UAE’s port of Fujairah. 
  • Berths 3A, 3B, 3E and 3W will be solely used for 0.5pc sulphur marine fuels.
  • Transition date to the new berth configuration will depend on market demand. 
  • The IMO 2020 rules cap global sulphur content in bunker fuels at 0.5pc.
  • Fujairah is likely to have different 0.5pc fuel oil grades, MGO and HSFO available when the IMO cap comes into action. 

Barges loading or discharging marine fuels...

http://mfame.guru/imo-compliant-fuels-receive-berths-from-fujairah-bunkering-hub/

Fujairah Bunker Demand Takes Near-Term Hit After Tanker Attacks

  • Bunkering demand at the port of Fujairah has dropped following a recent attack on tankers in the Middle Eastern region.
  • Attacks on two oil tankers in the Gulf of Oman have raised overall energy and shipping security concerns in the area.
  • The recent attacks have no direct price impact on the bunkering front, war risk insurance premiums for vessels have increased.
  • The bunker demand has been temporarily diverted away from Fujairah to other key ports such as Singapore.

According to an article...

http://mfame.guru/fujairah-bunker-demand-takes-near-term-hit-after-tanker-attacks/

+ More