30 Jun Singapore: Much work ahead as bunker market regulations tighten
Bunker suppliers and traders who attended the seminar on Quality Management for Bunker Supply Chain (QMBS) held in Singapore on Friday, June 20, say there are several details about the so-called Accreditation Scheme for Bunker Suppliers (ASBS) still to be worked out. What is already clear, however, is that suppliers will face an increased workload in order to comply with the new regulations.
In Full 27 Jun Oil market shifts back into neutral after rollercoaster trade
Overall the crude market is gong through a bearish period, for the simple reason it seems that the bulls have had their day and have driven prices high enough relative to current fundamentals. But because those fundamentals remain conspicuously tight, there are inherent strong upside risks in the market
In Full 26 Jun UAE: Local supplier clarifies bunkering situation at Kalba
Local bunker supplier at the Kalba Anchorage, Oil Marketing And Trading, today sent its costumers a circular to clarify any confusion that may have arisen about the legality of lifting bunkers at this United Arab Emirates anchorage. You can read it in full here.
In Full 26 Jun Singapore price rise on its last legs?
After a month of rising fuel oil prices and tighter fundamentals due to bumper Chinese imports, the Singapore bunker market may now be at its short-term peak. Although avails are tight now and going into July, the situation could ease later this month if, as some believe, Chinese imports slow down.
In Full 26 Jun Maritime organisations express concern about EU tanker proposals
The Round Table of international maritime associations comments on EU proposals to amend Annex I of MARPOL 73/78, regarding the accelerated phasing out of single-hull tankers, the Condition Assessment Scheme and the ban on transporting heavy grades of oil in single- hulled tankers.
In Full 25 Jun Oil prices surge after surprise US stock draw
In the perpetual irony that forms the basics of the oil market, strong oil prices are deterring stock building, which in turn is pushing prices higher. Oil prices rose sharply today after the latest statistics showed unexpected draws in US stocks of crude and oil products against expectations for moderate builds.
In Full 24 Jun BP economist expects $20 crude
Oil major BP Amoco's chief economist Peter Davies expects that the average oil price will fall to $20 per barrel from a $25 average over the past 2 years.
In Full 24 Jun IEA head says OPEC's $25 price target is too high
IEA's Mandil says OPEC's target price of $25 is a little too high to encourage growth in the global economy, and ultimately it is not good for OPEC either because it leads to loss of market share for the producer group.
In Full 23 Jun Crude prices falter as bulls grow tired
Bears and bulls are struggling to accurately peg market fundamentals at present, with the latest evidence ruling mostly in the favour of bears. However, many factors indicate that the bulls will have a stronger case soon, unless their platform of low inventory levels is eroded by high supply in the coming weeks.
In Full 20 Jun Frustration over Platts MOC methodology may cause rethink
Suppliers in the ARA region are still incensed at the recent changes to Platts' price reporting methodology. An oil major told Bunkerworld that they are "seriously considering" no longer using Platts as a basis for quotation due to the problems posed by the new methodology.
In Full 19 Jun Oil major refutes rumours of withdrawal from US market
Current tight avails for a number of players in the US Gulf Coast bunker market appears to have given birth to rumours that a relative newcomer to this market is pulling out of bunker operations in the area. The origin of these rumours are unclear, but were dismissed by a spokesman today.
In Full 19 Jun Is the current Japanese run of fortune sustainable?
With buyers now used to Japan being the cheaper option in the region, confidence in the lower levels offered by the country's market has grown significantly. Some players have expressed concerns as to how long avails will hold out in the larger ports in the country.
In Full 12 Jun Singapore market shifts into higher gear
Demand this week has been good, and today was particularly busy as buyers dived into a market that does not look like it will be softer any time soon due to strong crude and tighter fundamentals.
In Full 11 Jun US crude stocks shrink as imports fall, products gain
US crude stocks are down after imports eased last week, widening the year-on-year deficit. Total US stocks of crude and petroleum products are about 10% down on this time last year despite a rise in gasoline and distillate inventories.
In Full 06 Jun EU directive on sulphur in marine fuels adopted with amendments
The European Parliament called for stricter sulphur limits, but included amendments allowing for trials of alternative methods for reducing sulphur emissions from ships. These include abatement technologies such as scrubbing techniques, emissions trading and offsetting schemes.
In Full 06 Jun Single-hull legislation: Spotlight on the Baltic Sea
The fuel oil leak from the bunker tank of a sunken Chinese bulk carrier off the Swedish south coast this past week was a timely reminder of the risk associated with tanker traffic in the Baltic region, outside EU control. "Had it been a tanker, the disaster would have been huge", a Greenpeace spokesman commented.
In Full 05 Jun Soft ARA region still suffering tight avails and congestion
Suppliers in the ARA region were rather despondent today. Problems at the VOPAK installation in Rotterdam seem to be getting worse rather than better, where the back-log of vessels waiting to load is now so large that waiting time is now around three days.
In Full 04 Jun Australia: Refinery closures set to impact bunkering trends
More refinery closures are expected in Australia after ExxonMobil announced plans to close its Adelaide refinery. As refinery capacity in Australia diminishes, "Will in-tank pricing become the driving force in Australian bunkers as more and more suppliers become dependent on imported bunker fuels?" asks a local supplier.
In Full 02 Jun ARA market eases as avails are expected to improve
Contrary to strong crude, the forward ARA bunker market was seen easing today on expectations of improved availability in the currently fuel-starved market. Over the weekend, congestion and tight avails were made worse by off-spec fuel oil at the Vopak terminal in Rotterdam.
In Full 02 Jun SMP: Total Acid Number in bunkers "should be controlled"
The correlation between a high TAN in bunker fuels and machinery damage is inconclusive, and there are no specified limits for TAN in standards for the quality of marine fuel oil. However, high TAN and engine damage have been linked in reported incidents for many years.
In Full
