The maiden delivery via the barge will help serve the Port of Fujairah as well as adjoining ports.
Fujairah
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 voyagesThe 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- 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/
UAE: State Actor Likely Behind “Sophisticated” Fujairah Attacks
The sophisticated and coordinated attacks on four tankers off Fujairah were most likely carried out by a state actor.
Ship Insurers ‘Already Charging’ War Risk Premium for Fujairah Post-Sabotage Attacks
- The Joint War Committee of insurance body Lloyd’s Market Association on May 17 issued a circular.
- They have added Persian Gulf and adjacent waters including parts of Gulf of Oman to the list of areas under risk of Hull War, Piracy, Terrorism and related perils.
- The premium will vary and is not automatically added for the insurance cover. It will be provided to shippers at an additional cost.
- The expansion of the war risk area comes after Saudi Arabia said two of its oil tankers were victims of...
Fujairah Data: Oil Products Stock Slump 8% in a Week!
- Fujairah’s oil data slumped 7.9% in the past week to 23.721 million barrels as of May 6 and is considered to be the biggest drop in five months.
- This decline has been attributed to the large increase to slow shipping demand for fuel because of the Arab embargo on Qatar and sanctions on Iran.
- Stocks of light distillates, including gasoline, retreated 10% week on week, the biggest drop in seven months, to an eight-week low of 10.774 million barrels.
According to an article published by Platts,...
http://mfame.guru/fujairah-data-oil-products-stock-slump-8-in-a-week/