Bunkerworld Insights

News
Insights

BUNKERWORLD INDEX: Prices show bullish signs, track rising crude

Feb 26, 2021

Platts

**Asian buyers securing product ahead of further rises **Tightness in 0.5%S FO expected at Rotterdam **US prices supported by post-storm recovery
Rising volatility in marine markets lifts hedging against Platts instruments: ICE

Feb 25, 2021

Platts Bunkerworld .

**ICE traded volumes of marine fuel up 114% on year **Freight contract exposure hedged as far as 2025 **Different approaches to managing risk
Singapore's MPA, Yara join ammonia-fueled tanker development project

Feb 24, 2021

Platts Bunkerworld .

The consortium will tap onto MPA's experience as a bunkering hub and flag state to gather insights on safety issues and ammonia bunkering.
Bunker markets in Panama see strong hikes on supply curbs from US Gulf Coast

Feb 23, 2021

Platts

"Supply has tightened a lot and has triggered higher levels, especially for deliveries in the next 5-10 days," a market source said.
S. Korea's SK Energy to cut low sulfur bunker fuel output in March, April on VRDS maintenance

Feb 22, 2021

Platts Bunkerworld .

To make up the shortfall in production, SK Energy has bought one MR-sized low sulfur fuel oil cargo from Singapore from arrival in March, sources said.
For green hydrogen to catch up with blue, it's a long ride in India

Feb 18, 2021

Platts

"Until such time green hydrogen processes are fully developed, blue hydrogen can supplement overall hydrogen supply," Malhotra said.
Singapore HSFO quality and testing procedures

Feb 17, 2021

Platts Bunkerworld .

Platts welcomes feedback on the above issues, including testing methods, and quality specifications.
Bunkerworld Index: Prices rising with crude, but demand remains weak

Feb 12, 2021

Platts Bunkerworld .

The BW0.5%S Index ended Feb. 11 at $486/mt, down $4/mt day on day but up $18/mt on the week and $39/mt higher than 30 days previously.
INTERVIEW: IMO 2020 a success but other hurdles linger for bunker industry: expert

Feb 10, 2021

Platts Bunkerworld .

Margin pressures, credit squeeze remain concerns while industry consolidation is set to continue, Tolson said.
Singapore physical 10 ppm gasoil crack hits 6-month high on tight supply balances

Feb 9, 2021

Platts Bunkerworld .

Asian gasoil balances could see further tightening over the next few months with upcoming refinery maintenance, Platts Analytics said.
Bunkerworld Index: Rising crude supports bunker prices, but patchy demand ahead

Feb 5, 2021

Platts

**Singapore 0.5%S FO supply expected greater in March **NWE demand expected to remain weak **Poor demand but tight logistics at New York
Oil's peak seen nowhere near in India despite energy transition

Feb 5, 2021

Platts Bunkerworld .

**BPCL to aggressively pursue refining expansion **Volatile markets call for increased hedging **Oil and gas, new energy consumption to go hand-in-hand
MARINE FUEL 0.5%: Outright prices rebound on tight supply; retail bunker market demand below normal

Feb 4, 2021

Bunkerworld

Singapore is expected to receive about 2.5 million mt of low sulfur fuel oil from the West in February, traders said.
Iranian oil tanker in Egypt's Great Bitter Lake after running aground in Suez Canal: Platts cFlow

Feb 3, 2021

Platts

The Aframax Sahra ran aground due to engine trouble around Km 123 of the Suez Canal while transiting from the Red Sea to the Mediterranean.
Asia residual fuel market - Key market indicators this week

Feb 1, 2021

Platts Bunkerworld .

The Singapore Marine fuel 0.5%S bunker demand is expected to dip over Feb. 1-5, ahead of the Lunar New Year holidays, after the uptick in the second half of January, traders said, even as the North Asian power sector demand for Singapore Marine Fuel 0.5%S cargoes peter.
Bunkerworld Index: Vaccine shortages, lower Chinese mobility weigh on crude, marine fuel

Jan 29, 2021

Bunkerworld

**Singapore market seen lower as Lunar New Year nears **More vessels in Mediterranean signal firming demand **Diverging US sentiment on firming upstream, limited liquidity
Singapore's Eastern Pacific Shipping surpasses CO2 reduction targets ahead of schedule

Jan 28, 2021

Platts

Over the next few years, EPS will add LNG and LPG Dual-Fuel vessels across various segments.
Global carbon market grows 20% to $272 billion in 2020: Refinitiv

Jan 27, 2021

Platts Bunkerworld .

**Market shrugs off pandemic to increase further **International climate ambition driving growth in value **More than five-fold expansion since 2017
Storage companies seen pivotal for mitigating energy transition risk

Jan 26, 2021

Platts

**Storage firms have skills base to handle hydrogen **Storage an attractive prospect to investors **ESG attracting a range of interested players
Bunker sales in Panama recover in Dec, resilience seen in H2 2020

Jan 25, 2021

Platts Bunkerworld .

**Bunker sales in Panama rise 13.6% in December **Total sales of bunkers in 2020 fall 11.4% on year **Prices on the rise
Bunkerworld Index: Prices waver as lockdowns intensify

Jan 22, 2021

Platts Bunkerworld .

The BW0.5%S Index ended Jan. 21 at $447/mt, down $4/mt on the day, up $1/mt on the week and $41/mt higher than 30 days previously.
TFG Marine to commence bunkering operations at Falmouth from January

Jan 21, 2021

Platts

**Company to start bunkering operations at Falmouth anchorage in Jan **TFG Marine to commence operations with two barges first **Plans underway to expand bunker fleet over time
US sanctions European oil traders, tankers for violating Venezuelan crude oil sanctions

Jan 20, 2021

Platts Bunkerworld .

**Sanctions extend to those working with Mexican network **Ban on Citgo share seizures extended until July **Moves come on Trump's last full day in office
Singapore Marine Fuel crack at 10-month high on strong N Asia LSFO demand

Jan 19, 2021

Platts

Rally in the Asian marine fuel 0.5%S to be short-lived after cold snap retreats.
Asia residual fuel market - Key market indicators this week

Jan 18, 2021

Platts Bunkerworld .

While bunker demand in the Singapore Marine fuel 0.5% market continued to be lacklustre, the market has been buoyed by demand from utility companies in North Asia amid low fuel inventory and high LNG prices, traders said.
OPEC, shale output needs to rise to offset possible year-end supply squeeze: Vitol CEO

Jan 13, 2021

Platts Bunkerworld .

**OPEC+ slows down output rises more than expected **2021 demand increase to hover around 6 mil-6.5 mil b/d **Oil prices rising due to potential supply squeeze
European VLSFO crack hits 10-month high on tight supply

Jan 12, 2021

Platts

**0.5%S marine fuel crack up $1 in past week **Weak supply supporting prices: sources
Asia residual fuel market - Key market indicators this week

Jan 11, 2021

Platts Bunkerworld .

The Singapore Marine fuel 0.5%S market witnessed tepid downstream bunker demand in the first trading week of 2021, although bunker traders have pegged their hopes on a demand recovery for the second half of the month.
Bunkerworld Index: Prices rise as bullish crude factors offset limp demand

Jan 8, 2021

Platts Bunkerworld .

**Traders at Asian hubs hope for higher demand in H2 Jan **European market lacks direction amid mixed buying interest **USGC ports see weak demand, pockets of tightness elsewhere
Saudi Aramco OSP hike at high end of market expectations: traders

Jan 7, 2021

Platts Bunkerworld .

**Aramco raises Feb Asia OSPs by 20-70 cents/b across all grades **Supply cuts, Dubai structure support price hike
Demand for LSFO set to rise in Fujairah after Qatar embargo lifted: traders

Jan 6, 2021

Platts

**Qatar LSFO demand seen returning to emirate **Demand moved to Singapore during embargo
OPEC+ adjourns meeting until Jan. 5 with no deal yet on February oil quotas: delegates

Jan 5, 2021

Bunkerworld

**Russia seeks 500,000 b/d increase, but many opposed **Saudi Prince Abdulaziz says loose pumps may sink market **Novak says vaccines have improved oil market outlook
Asia residual fuel market - Key market indicators this week

Jan 4, 2021

Platts Bunkerworld .

Firmer fundamentals are expected to buoy sentiment in the Asian low sulfur fuel oil market in the first trading week of 2021 amid lower arbitrage supply from the West into Singapore and an uptick in demand from North Asian power utilities.
Bunkerworld Index: Prices rise amid firming crude, pockets of tightness for bunkers

Dec 31, 2020

Platts Bunkerworld .

**VLSFO in South Korea set for Q1 limits on availability **Durban HSFO tightness likely to linger following explosion **USGC demand may pick up following seasonal slowdown
European VLSFO cracks hit nine-month high despite poor demand

Dec 30, 2020

Bunkerworld

The 0.5%S European marine fuel cracks hit nine-month highs on Dec. 29 despite weak demand through December.
FEATURE: Container shippers hoping for rate relief in Q1 2021 may have to wait

Dec 29, 2020

Platts

Shippers hoping for a break from escalating container rates in the new year may need to endure several more weeks of challenging market conditions before an increase in box supply in Asia balances with demand for available capacity.
AMERICAS BUNKERS: Key market indicators Dec. 28-Jan. 1

Dec 28, 2020

Platts Bunkerworld .

Retail marine fuel spot markets entered the week of Dec. 28-Jan. 1 following a week of bullish demand, but liquidity may slow down heading into the end of the year as demand remains weak.
Bunkerworld Index: Prices waver amid economic headwinds

Dec 24, 2020

Platts Bunkerworld .

**North Asia bunker outlook bullish on lower stocks, continuing demand **Uncertain outlook at Rotterdam amid lagging demand and vaccine optimism **USGC, Panama demand likely to wane in line with seasonal expectations
UK fuel demand set to slump over new travel curbs from COVID-19 variant

Dec 22, 2020

Bunkerworld

**London traffic slumps to lowest since early June **Move to slash European air travel demand **Jet fuel demand facing new 'downside risk'
Asia residual fuel - Key market indicators this week

Dec 21, 2020

Platts Bunkerworld .

Shipowners are actively beginning to procure low sulfur fuel oil for January following a slowdown in December ahead of the festive season, setting the market in recovery mode.
SINGAPORE DATA: Nov bunker fuel sales up nearly 3% on month to 4.26 mil mt

Dec 14, 2020

Platts Bunkerworld .

**MFO 380 CST sales maintain momentum to hit 995,000 mt **Nov LSFO sales rise 4.5% from Oct
Singapore HSFO prompt time spreads drop to near two-month lows

Dec 9, 2020

Bunkerworld

**180 CST time spread flips to contango **Power sector demand dwindles on lower temperature
FUJAIRAH DATA: Oil products stocks jump 12%, biggest gain since February

Dec 9, 2020

Platts Bunkerworld .

**Gains across the board for first time since August **Exports have slowed in recent months **Fuel oil demand slows as weather turns colder
S Korea HSFO differential hits 4-month high on tight supply

Dec 9, 2020

Platts Bunkerworld .

**Tightness expected to when GS Caltex resumes supply Dec. 20 **GS Caltex typically produces 120,000 mt of HSFO/month
FEATURE: Fujairah eyes 4th refinery in 2021 as Oman plans to add storage

Dec 8, 2020

Platts Bunkerworld .

**Brooge Energy plans 25,000 b/d refinery **Fujairah marine fuel prices tumble this year **Murban futures trading may provide incremental boost
First European 0.5%S marine fuel paper indication seen in Platts MOC

Dec 7, 2020

Bunkerworld

The first 0.5%S marine fuel paper instrument was seen in the Platts Market on Close process Dec. 7, 11 months since the implementation of the International Maritime Organisations sulfur cap which came into play on Jan. 1, 2020.
European VLSFO backwardation hits nine-month high

Dec 4, 2020

Platts Bunkerworld .

The European very low sulfur fuel oil market has hit nine-month high as product comes to the market ahead of year-end.
FUJAIRAH DATA: Oil product stocks rise 2.3% on big build in heavy distillates

Dec 2, 2020

Bunkerworld

**Heavy distillate inventories rise from 2-year low **Middle distillates fall from last week's record high **Light distillates fall slightly from 10-week high
JAPAN DATA: Nov. 22-28 oil product exports rebound 23% to 2.4 mil barrels

Dec 2, 2020

Platts Bunkerworld .

**Gasoil exports jump 36.9% **HSFO exports rise 6.6%, LSFO exports up 34.3%
CHINA DATA: Oct fuel oil exports fall 3% on month to 1.22 mil mt

Dec 1, 2020

Bunkerworld

**Exports soar 164.7% on-year **Chinese refineries have significantly expanded capacity
European fuel oil paper volumes in November MOC up 522% on month

Dec 1, 2020

Platts Bunkerworld .

Hi-lo most commonly traded derivative.
OPEC+ heads into crunch-time negotiations still in search of unity over 2021 oil quotas

Nov 30, 2020

Platts Bunkerworld .

**Preliminary talks over extending oil cuts to boost market **Russia, Kazakhstan said to seek output rise, UAE undecided **Formal OPEC meeting Nov. 30, non-OPEC joins Dec. 1
Bunkerworld Index: Prices firm on enduring pockets of demand, optimism for crude

Nov 27, 2020

Platts Bunkerworld .

**USGC prices on the rise despite easing availability **ARA MGO supply concerns appear **Quarantine rule hits Hong Kong buying appetite
NWE gasoline exports to WAF fall in November: Kpler

Nov 26, 2020

Platts

**First decline in gasoline flows for 7 months **Flurry of floating storage fixtures
FUJAIRAH DATA: Oil product stocks fall on 11% slide in heavy distillates

Nov 25, 2020

Platts Bunkerworld .

Over the week to Nov. 23, middle distillates such as jet fuel and diesel climbed 3% to 6.161 million barrels, a record high.
ANALYSIS: NWE gasoline arbitrage to US weakens after Thanksgiving freight rate rise

Nov 24, 2020

Platts

**US demand falling seasonally and on COVID-19 **NWE gasoline crack near negative territory
Asia residual fuel market - Key market indicators this week

Nov 23, 2020

Platts Bunkerworld .

**LSFO output shows slight increase **Container liners provide baseline demand
TENDER DATA: Japan's Ministry of Defense seeks 57,400 barrels 0.1% sulfur A-fuel oil for March

Nov 17, 2020

Platts Bunkerworld .

**A-fuel is a blend of gasoil and fuel oil in a 90:10 ratio **Ministry regularly buys by fuel by tender
Asia residual fuel market - Key market indicators this week

Nov 16, 2020

Platts Bunkerworld .

**Singapore 0.5%S FO values expected to remain supported **November 3.5%S FO demand so far firmer than October's level
European fuel oil inventories fell in Sept. amid tight supply: IEA

Nov 12, 2020

Platts

**Fuel oil supply hinges on other products **Marine demand remains steady
Fourth propulsion revolution, more R&D to aid greener shipping: ICS

Nov 11, 2020

Platts Bunkerworld .

**Ammonia, hydrogen and electric batteries hold promise **R&D fund imperative to develop zero carbon fuels **Charterers, financiers coming forward to promote greener shipping
OIL FUTURES: Crude extends losses on pandemic concerns, pares back overnight gains

Nov 10, 2020

Platts Bunkerworld .

Analysts warn, for all the excitement a vaccine would bring, there are still the practicalities to get out of the way first.
TFG Marine starts bunkering operations in areas along US Gulf Coast

Nov 6, 2020

Platts Bunkerworld .

**TFG Marine scaling up global footprint **Became accredited bunker supplier in Singapore this year
Singapore bunker sales remain resilient despite strong headwinds

Nov 5, 2020

Platts Bunkerworld .

"Singapore will continue to grow its marine fuel volumes in the next few months," an industry consultant said.
Neste to buy Bunge's oil, fat processing plant in Rotterdam for Eur258 million

Nov 4, 2020

Platts Bunkerworld .

"The acquisition of the refinery plant supports our global growth strategy in renewables," Neste CEO Peter Vanacker said.
October CPC loadings up 8% on month to 1.23 mil b/d

Nov 3, 2020

Platts

**Shipments down 12.5% on year **Kazakh shipments up 15% on month
Singapore 380 CST HSFO prompt backwardation widens to 9-month high

Nov 2, 2020

Platts Bunkerworld .

"The HSFO market is strong. Refiners are cutting their run rates... we still see demand from Pakistan. Demand from the power sector is still strong," a fuel oil trader said.
Singapore LSFO inter-month structure sees volatility amid low production, lacklustre demand

Oct 30, 2020

Bunkerworld

Most Asian refiners continue to maintain lower LSFO production rates, continuing a production plan which began towards the end of Q2.
IMO, S. Korea partner to help less-developed nations meet shipping climate goals

Oct 29, 2020

Platts Bunkerworld .

**Partners recognize barriers to poorer nations meeting targets **Geopolitics may cause regional approaches
Singapore's MPA launches proposal for additional LNG bunker supplier licenses

Oct 28, 2020

Platts

"MPA seeks to announce the successful award of new LNG bunker supplier licence(s), if any, by February 2021," it added.
Bunker fuel supply tightens in North Asia on weak gasoil margins

Oct 27, 2020

Platts Bunkerworld .

"Our refinery will maintain its overall operating ratio below 70% in November too, so I think supply will still be tight," a source with a South Korean refiner said.
Tight supply drives Zhoushan marine fuel 0.5%S premium to 6-month high

Oct 26, 2020

Platts

"Everyone don't have oil anymore, and barges are full," a Zhoushan-based supplier said.
Dorian LPG sees dual fuel VLGC upgrade costing 3 three times scrubber retrofitting

Oct 23, 2020

Platts Bunkerworld .

"Ten of our ships are equipped with scrubbers and we have commitments for another two," Young said.
Americas bunker market adapting well to IMO 2020; COVID-19 still a factor: conference

Oct 22, 2020

Platts Bunkerworld .

Sellers and suppliers have been "focused on quality" and use certificates of quality during their transactions, Coyne said.
Narrow east-west spread to keep Nov LSFO arbitrage to Singapore low: traders

Oct 21, 2020

Platts

Singapore is expected to receive 1.5 million-2 million mt of low sulfur fuel oil from the West in November,traders said.
Japan's delivered marine fuel 0.5%S bunker price is lowest in Asia

Oct 20, 2020

Platts Bunkerworld .

"We had expected more orders after China returned from their golden week holidays, but it didn't happen," a trader said.
China's Zhoushan port supplies 3.26 mil mt bonded bunker fuels over Jan-Sep, up 18% on year

Oct 14, 2020

Platts Bunkerworld .

Association attributed increase in volume to price competitiveness compared to the Asia's key bunkering port of Singapore since late-August.
Asian gasoil crack overtakes gasoline after 4-week flip as supply balance tilts

Oct 13, 2020

Platts

Second consecutive session to see gasoil swap crack higher than gasoline swap crack.
India's Sep fuel oil consumption falls 4% on month on weaker demand

Oct 12, 2020

Platts Bunkerworld .

Several refiners estimate India bunkering demand has shrunk 15%-20% since onset of coronavirus pandemic in April.
Singapore's residue stocks edge up 1% to 7-week high, bunker demand stable

Oct 9, 2020

Bunkerworld

Stocks were last higher Aug. 19 at 25.485 million barrels, historical data showed.
HSFO bunker barge availability tight in Singapore after typhoons delay vessels

Oct 8, 2020

Platts

The availability of bunkering barges is limited in Singapore amid vessel delays following two recent typhoons in Japan and South Korea, market sources said Oct. 8.
Hafnia's fuel procurement, strategies lead to smooth IMO 2020 transition: executive

Oct 7, 2020

Bunkerworld

"For us, the decision to use LSFO has proven beneficial significantly quicker than we expected," Sorensen said.
INTERVIEW: VPS exec sees bunker fuel quality alerts surging in 2020 as VLSFO use gathers pace

Oct 6, 2020

Platts Bunkerworld .

"A lot of stability and cold-flow issues with VLSFOs, plus flash point issues with MGO and VLSFO, have been noted," Bee said.
Singapore to issue additional LNG bunker supplier licenses as demand grows

Oct 6, 2020

Platts

Singapore will have an LNG bunker supply capacity of up to 1 million mt per annum from 2021, Chee said.
FueLNG advances LNG bunkering prospects, infrastructure in Singapore

Oct 5, 2020

Platts Bunkerworld .

FueLNG Bellina is scheduled to be operational by end-2020.
Singapore's LSMGO bunker inquiries spike on narrower gasoil-LSFO spread

Sep 30, 2020

Platts Bunkerworld .

The spread has since contracted to a five-month low of 84 cents/mt on Sept. 28, but on Sept. 29, it widened to $2.94/mt, Platts data showed.
Monjasa sees near 50% bunker sales growth in Southeast Asia despite COVID-19

Sep 29, 2020

Platts Bunkerworld .

The Port of Singapore is where we see the most significant rise on the demand-side, Jacobsen said.
Trafigura proposes carbon levy for shipping to hasten decarbonization

Sep 25, 2020

Platts Bunkerworld .

Trafigura, the independent oil trader and one of the world's largest ship charterers, has proposed that the International Maritime Organization introduce a carbon levy of $250-$300/mt of CO2 equivalent on shipping fuels, to make zero- and low-carbon fuels more economically viable and more competitive.
Fujairah oil product stocks slip to near six-month low

Sep 24, 2020

Platts

"Two suppliers left the Fujairah bunker market, which has reduced the competition," Mali said.
EMEA Middle Distillates: Key market indicators this week

Sep 21, 2020

Platts Bunkerworld .

European diesel markets looked weaker as traders saw demand falling back as coronavirus cases in Europe rose, while gasoil and jet fuel markets strengthened.
Singapore 0.5% sulfur marine fuel premium to Fujairah hits 3-month low as demand grows

Sep 18, 2020

Platts Bunkerworld .

The premium of Singapore-delivered to Fujairah-delivered, 0.5% sulfur marine fuel narrowed to $2/mt on Sept. 18, the lowest in three months, S&P Global Platts data showed, on tight barge availability and an uptick in demand in the Middle East.
NWE gasoil, ULSD cracks at multi-year lows point to refinery run cuts

Sep 17, 2020

Platts

Northwest European cracking margins for 0.1% gasoil and ultra low sulfur diesel have hit long-term lows, which has led to expectations that refineries across Europe will start cutting runs, sources said.
Bunker sales in Panama rise in Aug with strong increase in high sulfur segment

Sep 16, 2020

Platts Bunkerworld .

Bunker sales in Panama climbed for the second consecutive month in August, after a steep fall in June, with high sulfur IFO 380 fuel showing the strongest increase.
ARA gasoil barges at three-month high versus cargoes

Sep 15, 2020

Platts Bunkerworld .

Gasoil barges in the Amsterdam-Rotterdam-Antwerp hub have risen to a three-month high versus cargoes amid a mix of factors on both the supply and demand sides of the market.
LSGO futures net speculative length slips to four-month low amid largest increase in short positions on record

Sep 14, 2020

Platts Bunkerworld .

Speculative net long positions in ICE low sulfur gasoil futures fell 42,389 contracts to 21,114 in the week to Sept. 8, a four-month low, according to Intercontinental Exchange data.
ARA fuel oil stocks up 16.7% on week to 1.233 mil mt: Insights Global

Sep 11, 2020

Bunkerworld

Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp hub, as measured by Insights Global, rose 16.7% to 1.233 million mt in the week to Sept. 9.
Gibraltar Hi-5 bunkers spread at fresh low amid tightness in HSFO

Sep 9, 2020

Platts Bunkerworld .

VLSFO supply remains ample amid demand destruction caused by COVID-19.
European HSFO values near 2019 prices, bucking expectations

Sep 8, 2020

Platts Bunkerworld .

The spread between physical prices for 3.5%S FOB Rotterdam barges in 2019 and 2020 reached as close as $4/mt year on year on Sept. 1, assessed at $257/mt, before the spread widened again.
Q2 container volumes fall 13% on year; recovery likely in Q3: CMA CGM

Sep 8, 2020

Platts

Going ahead, the third quarter results should mark a new improvement, the carrier said.
ARA fuel oil stocks down 4% on week to 1.057 mil mt: Insights Global

Sep 4, 2020

Bunkerworld

Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp hub, as measured by Insights Global, fell 4% to 1.057 million mt in the week Sep 2.